Item 1. Business
Overview
Summit Bank Corporation was organized as a Georgia corporation on October 15, 1986, primarily to become a bank holding company by acquiring all the common stock of The Summit National Bank (the "Bank") upon its formation. The Bank commenced business on March 10, 1988, and the Company's primary activity since then has been the ownership and operation of the Bank.
The Bank is a banking association organized under the laws of the United States. The Bank engages in commercial banking from its main office and six branch offices, three of which are located in its primary service area of northern metropolitan Atlanta, Georgia. A fourth office, opened in 2004, is a limited service branch office located in the south Atlanta area. Two additional branch offices are located in San Jose and Fremont, California. These offices are in ethnic communities that are very similar to part of the Bank's Atlanta primary service area. In the first quarter of 2005, the Bank opened a seventh full-service branch office in northern metropolitan Atlanta. The Bank seeks to serve four principal markets:
• individuals, professionals, and small to medium-sized businesses in the Bank's primary service areas;
• ethnic communities, principally Asian-Americans, European-Americans and Latin Americans, located in the primary service areas, including businesses operated by members of such communities;
• individuals, professionals, and businesses in the primary service areas requiring the international financial transaction services offered by the Bank; and
• foreign corporations and individuals requiring specialized banking services (international private banking) in the Atlanta and San Jose metropolitan areas.
Management believes the identified markets continue to provide significant growth opportunities for the Bank. The Bank offers these markets a variety of traditional and specialized banking services, and emphasizes personal service, cultural sensitivity and accessibility of management.
Banking Services
The Bank offers the full range of deposit services typically offered by most banks and other financial institutions, including checking accounts, NOW accounts, savings accounts and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposits. The Bank tailors its transaction accounts and time certificates to the principal market areas at rates competitive to those offered in the area. In addition, retirement accounts such as Individual Retirement Accounts ("IRAs") are available. The Bank solicits accounts from individuals, businesses, associations, and government entities. All depositors are insured by the Federal Deposit Insurance Corporation (the "FDIC") up to the maximum amount ($100,000 per depositor).
There are certain risks in making all loans. A principal economic risk in making loans is the creditworthiness of the borrower. Other risks in making loans include the period of time over which loans may be repaid, changes in economic and industry conditions, circumstances unique to individual borrowers, and uncertainties about the future value of any collateral. The Bank's management maintains an allowance for loan losses based on, among other things, an evaluation of economic conditions and other lending risks, and its regular reviews of delinquencies and loan portfolio quality.
The Bank offers a full range of short to medium-term commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital (including inventory and receivables), business expansion (including acquisition of real estate and improvements), and purchase of equipment and machinery. The Bank offers government guaranteed loans under the Small Business Administration ("SBA") loan program. After originating a guaranteed loan, the Bank may sell the guaranteed portion (approximately 75%) resulting in a gain on the sale of the portion of the loan sold. In addition, the Bank retains the servicing rights to these loans, which generate servicing income on the portion sold. Personal (or consumer) loans include secured and unsecured loans for financing automobiles, home improvements, education, and personal investments.
In addition to deposit and loan services, the Bank's other domestic services include 24-hour multi-lingual telephone banking, Internet banking, cash management services, investment sweep accounts, safe deposit boxes, travelers checks, direct deposit of payroll and social security checks, as well as automatic drafts for various accounts. The Bank is a member of the STAR, CIRRUS and EXCHANGE ATM networks. These ATM networks are used by Bank customers in major cities throughout Georgia and California and in various other cities in the United States and worldwide. The ATM located at the Asian Banking Center branch location also offers multi-lingual screens for Asian-speaking patrons. The Bank offers both VISA and MasterCard credit cards to its customers through a third party vendor.
The Bank's international banking services include inbound and outbound international funds transfers, foreign collections, and import and export letters of credit. The Bank also issues bankers acceptances. The Bank issues drafts or bills of exchange to facilitate international trade and funds are available only after the Bank completes a diligent credit review process. In addition, the Bank offers private banking services to qualified foreign individuals and corporations establishing business operations in Atlanta. These specialized private banking services include bill paying, statement and mail holding, currency exchange, international funds transfers and personal lines of credit (including credit card services).
In addition, the Bank's private banking group assists executives living in the United States with personal banking services that support international business objectives. These services include introductions to correspondent financial services as well as to the Company's general business contacts in international trade markets. The Bank does not offer personal or corporate trust services (other than retirement custodial services for IRAs and similar plans).
Locations and Service Areas
One of the Bank's two primary service areas covers a section of North Metropolitan Atlanta, Georgia including portions of DeKalb, Fulton, Cobb, and Gwinnett Counties. This area includes the city of Chamblee, portions of the cities of Doraville and Norcross, the DeKalb-Peachtree Airport, the Northlake and Perimeter Malls in DeKalb County, Cumberland and Town Center Malls in Cobb County, the Perimeter Business Park and the Peachtree Corners area including Technology Park, and portions of the city of Duluth, Gwinnett County. This area is crossed by major thoroughfares such as Interstate 85 to the East, Georgia 400 to the West, Georgia Highway 140 to the North and Clairmont Road to the South. The Bank also has a deposit processing center located near the Hartsfield-Jackson International Airport for the purpose of serving the needs of its customers located near the airport. A second primary service area covers portions of San Jose and Fremont, California. These markets are located in the south San Francisco bay area and are crossed by the major thoroughfares of Highway 101 and Interstates 880, 680, and 280. See "Item 2
Item 2. Properties
Main Office
The Bank's main office is at 4360 Chamblee-Dunwoody Road, Atlanta, DeKalb County, Georgia, on the ground floor of a five-story, 100,000 square foot, office building near the intersection of Interstate 285 and Chamblee-Dunwoody Road. The Bank has a lease for 8,941 square feet on the main floor of the building and an additional 14,534 square feet on the third floor. The lease for the first floor premises, which began on January 1, 2001, provides base rental of $17.50 per square foot per year. The lease provides for escalations through its expiration on December 31, 2010. The third floor lease provides base rental of $17.50 per square foot per year on 10,462 square feet and $19.00-$25.00 per square foot per year on the remaining square feet. The lease for the third floor premises expires on December 31, 2007. The first floor space, which includes the main branch, has six teller stations, two customer service stations, the small business lending department, the loan operations department, offices for loan officers, and the main conference room. The Bank has an ATM attached to the building. The third floor space houses the international department, the operations and check processing departments, as well as other bank administration offices.
Asian Banking Center
The Bank owns an office building containing 18,000 square feet of space located on 2.77 acres of land in Atlanta's Asian-American business district on Shallowford Road near Buford Highway. The address is 3490 Shallowford Road, Atlanta, Georgia. The Bank currently utilizes 6,000 square feet of first floor space in the building for a branch office. Additionally a Bank lending group occupies 1,838 square feet on the second floor. The Bank has leased approximately 9,000 square feet, including common areas, to other tenants which leases provide base rental rates from $15.75 to $17.67 per square foot per annum. The branch office has six teller stations, five customer service stations, and five offices for lending officers and management. In addition, the Bank has installed a drive-through ATM and drive-through teller window.
Vinings
The Bank's branch office in the Vinings area of Cobb County is located at One Paces West, Suite 150, 2727 Paces Ferry Road, N.W., Atlanta, Georgia. The office building has 246,515 square feet of leasable space near the intersection of Interstate 285 and Paces Ferry Road. The Vinings branch office contains 5,266 square feet of space, which the Bank has leased at a base rate of $21.25 per square foot per annum. This space consists of four teller stations, two drive-in windows, four customer service stations, six offices for management and lending officers and a conference room. The Bank also has an ATM at this location. The initial term of the lease expires in June 2007.
Peachtree Corners
The Bank also leases approximately 2,500 square feet of a two-story 7,700 square foot building, as a branch location in the Peachtree Corners area of north Atlanta. The building sits on 1.3 acres at 3280 Holcomb Bridge Road, Norcross, Georgia. This branch office has four teller stations, one drive-up window, one drive-in lane, two offices for a lending officer and branch management, as well as a drive-through ATM. The term of the lease, beginning in 2000, is five years at a base rent of $10.00 per square foot per year and includes three options to extend the lease for five years each at the same base rate.
Phoenix Boulevard Deposit Processing Center
The Bank leases 2,706 square feet of a five-story, 87,384 square foot building, as a deposit processing center to serve the Southern area of Atlanta. The limited access office has three teller stations, two offices for customer relations personnel and a conference room. The lease term began in July 2004 at a base rate of $16.75 per square foot per year for a period of 65 months.
Park Village Office
The Bank leases a 4,800 square foot branch office located at 2540 Pleasant Hill Road, Duluth, Georgia. The office includes five teller stations, one drive-in lane, and office for a lending officer, two offices for branch management and a conference room. The office also has a walk-up ATM. The lease term is for a period of ten years with three options to extend for five-year periods each. The initial lease began in March 2005 and provides for a base rate of $25.00 per square foot per year.
San Jose Office
The Bank's San Jose branch office is in leased office space at 1648-A Tully Road, San Jose, California. The branch occupies 3,570 square feet of a building containing 5,796 total square feet. This branch has four teller stations, including a merchant booth for large commercial transactions, and a walk-up ATM machine. The base rent for this office is $33.00 per square foot per year, and the lease expires in July 2019.
San Jose Operations Office
The Bank's loan and deposit operations are housed in leased office space at 1694 Tully Road, San Jose, California. This office originally included the branch facility which was moved to 1648-A Tully Road in November 2004. The Operations Office consists of 8,142 square feet at a base rate of $24.23 per square foot per year and expires in March 2006.
Fremont Office
The Bank also leases space for a branch location at 46615 Mission Boulevard, Fremont, California. The Bank leases approximately 5,092 square feet for this office under a primary lease agreement for 2,770 square feet and a sublease agreement on 2,322 adjoining square feet. The primary lease has a base rent of $43.80 per square foot per year, and expires in May of 2008. The sublease has a base rent of $31.20 and also expires in March 2008. Both lease agreements provide for two options of five (5) years each to extend the term. The branch has four teller windows, a merchant booth for processing large commercial deposits, six offices for a lending officer and branch management and a walk-up ATM.
Item 3.
Item 3. Legal Proceedings
There are no material legal proceedings, other than ordinary routine litigation incidental to their business, pending against or involving assets of the Company or the Bank.
Item 4.
Item 4. Submission of Matters to a Vote of Security-Holders
No matter was submitted during the fourth quarter of the fiscal year covered by this report to a vote of security-holders, through the solicitation of proxies or otherwise.
PART II.
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Company's shares are listed on the Nasdaq National Market under the symbol "SBGA". As of March 1, 2005, the quoted purchase price for the Company's shares was $15.44 per share. There were approximately 340 holders of record of the Company's Common Stock at March 1, 2005. Additionally, there are an estimated 1,270 shareholders who hold shares in various brokerage and investment accounts.
The Company began paying quarterly cash dividends in 1995 and paid a total of $.08 per share in that year. The Company paid a total of $.40 and $.35 per share in cash dividends in 2004 and 2003, respectively. These amounts have been restated for the stock dividend awarded in 2004. Although the Company currently plans to continue paying cash dividends on a quarterly basis, Summit's dividend policy may change in the future. The declaration and payment of dividends will depend upon business conditions, operating results, capital and reserve requirements, and the Board of Directors' consideration of other relevant factors. In addition, our ability to pay dividends in the future will depend, in part, on the earnings of the Bank and its ability to pay dividends to the Company. See "Business -- Supervision and Regulation -- Payment of Dividends."
For additional information concerning the Company's quarterly stock prices and quarterly cash dividends see the Company's 2004 Annual Report to Shareholders which is incorporated by reference herein.
The Company did not repurchase any of its securities during the fourth quarter of 2004.
Item 6.
Item 6. Selected Financial Data
The selected consolidated financial data presented below as of and for each of the five years ended December 31, 2004 is unaudited and has been derived from the Consolidated Financial Statements of the Company and its subsidiaries, and from records of the Company. The information presented below should be read in conjunction with the Consolidated Financial Statements, the Notes to Consolidated Financial Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Averages are derived from daily balances. Share and per share amounts for all years are adjusted for all relevant stock splits and stock dividends during the period.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
Incorporated by reference to the 2004 Annual Shareholders' Report -- See Cross Reference Index on page 2 and Exhibit 13.1.
Item 7a.
Item 7a. Quantitative and Qualitative Disclosures About Market Risk Incorporated by reference to the 2004 Annual Shareholders' Report -- See Cross Reference Index on page 2 and Exhibit 13.1.
Item 8.
Item 8. Financial Statements and Supplementary Data
Incorporated by reference to the 2004 Annual Shareholders' Report -- See Cross Reference Index on page 2 and Exhibit 13.1.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None
Item 9A.
Item 9A. Controls and Procedures
As of the end of the period covered by this report, the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, reviewed and evaluated the effectiveness of the design and operation of the Company's disclosure controls and procedures pursuant to Exchange Act Rule 13a-15. Based upon that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures are effective in timely alerting them to material information relating to the Company (including its consolidated subsidiaries) that is required to be included in the Company's periodic filings with the Securities and Exchange Commission. There have been no significant changes in the Company's internal controls or, to management's knowledge, in other factors that could significantly affect those internal controls subsequent to the date management carried out its evaluation, and there have been no corrective actions with respect to significant deficiencies or material weaknesses.
Item 9B.
Item 9B. Other Information
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
The Company has a Code of Conduct that applies to all of the Company's employees (including its principal executive, financial and accounting officers) and directors. A copy of the Code of Conduct is posted on the Company's website at summitbk.com under "Investor Relations/Officers and Directors." Additional information regarding the Company's directors and executive officers is incorporated by reference to the Definitive Proxy Statement for the 2005 Annual Shareholders' Meeting -- See Cross Reference Index on page 2.
Item 11.
Item 11. Executive Compensation
Incorporated by reference to the Definitive Proxy Statement for the 2005 Annual Shareholders' Meeting -- See Cross Reference Index on page 2.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
The following table provides information regarding compensation plans under which equity securities of the Company are authorized for issuance. All data is presented as of December 31, 2004, adjusted for the February 17, 2004 three-for-two stock split.
Additional disclosure is incorporated by reference to the Definitive Proxy Statement for the 2005 Annual Shareholders' Meeting --See Cross Reference Index on page 2.
Item 13.
Item 13. Certain Relationships and Related Transactions
Incorporated by reference to the Definitive Proxy Statement for the 2005 Annual Shareholders' Meeting --
See Cross Reference Index on page 2.
Item 14.
Item 14. Principal Accounting Fees and Services
Incorporated by reference to the Definitive Proxy Statement for the 2005 Annual Shareholders' Meeting ---
See Cross Reference Index on page 2.
PART IV
Item 15.
Item 15. Exhibits and Financial Statement Schedules
(a) The following documents are filed as part of this report:
1.
Financial Statements - The consolidated financial statements, notes to consolidated financial statements, and report of independent registered public accounting firm thereon, appear in the 2004 Annual Shareholders' Report -- See Cross Reference Index on page 2 and Exhibit 13.1.
2.
Financial Statement Schedules - These are omitted as they are not required or are not applicable.
3.
Exhibits (numbered in accordance with Item 601 of Regulation S-K.) The Company's SEC file number for exhibits incorporated by reference is 0-21267.
Exhibit
Number
Exhibit
3.1
Amended and Restated Articles of Incorporation of Summit Bank Corporation (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002)
3.2
Bylaws of Summit Bank Corporation, as amended (incorporated by reference to Exhibit 3.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002)
4.1
The rights of security holders are defined in (I) Articles Five, Six, Nine, Ten, Eleven, Thirteen, Fourteen, and Sixteen of the Amended and Restated Articles of Incorporation of Summit Bank Corporation and (ii) Articles Two, Three, Eight, Ten, and Eleven of the amended Bylaws of Summit Bank Corporation, (see Exhibits 3.1 and 3.2, respectively)
4.2
Indenture dated September 30, 2003 between Summit Bank Corporation and The Bank of New York relating to Trust Preferred Securities issued by the Company (incorporated by reference to Exhibit 4.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003)
10.1*
Summit Bank Corporation 1998 Stock Incentive Plan, dated as of February 23, 1998 (incorporated by reference to Appendix A to the Company's Proxy Statement filed on March 18, 1998)
10.1a*
Form of option agreement pursuant to the Summit Bank Corporation 1998 Stock Incentive Plan for employees.
10.1b*
Form of option agreement pursuant to the Summit Bank Corporation 1998 Stock Incentive Plan for non-employees.
10.2
Lease Agreement dated December 3, 1993, between Baker Dennard Co., Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.4 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1993) (Main office)
10.2a
Fifth Amendment to Lease Agreement (referenced in Exhibit 10.2 and incorporating amendments One through Four), dated March 13, 2000, between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co., Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2a to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000) (Main office)
10.2b
Sixth Amendment to Lease Agreement. (referenced in Exhibit 10.2), dated January 4, 2001 between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co, Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2b to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000) (Main office)
10.2c
Seventh Amendment to Lease Agreement (referenced in Exhibit 10.2), dated March 29, 2002 between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co, Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2c to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002) (Main office)
10.3*
Change in Control Agreement dated August 25, 1995 by and between Pin Pin Chau, President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.7 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.4*
Change in Control Agreement dated August 25, 1995 by and between David Yu, Chairman of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.8 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.5*
Change in Control Agreement dated August 25, 1995 by and between Alec Dudley, Executive Vice President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.6*
Change in Control Agreement dated August 25, 1995 by and between Gary McClung, Executive Vice President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.7*
Post Retirement Compensation Agreement dated December 20, 2004 by and between Pin Pin Chau, CEO of the Company, and the Company
11.1
Statement Regarding Computation of Net Income per Share
13.1
Annual Report to Shareholders
14.1
Code of Ethics (incorporated by reference to Exhibit 14.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003)
21.1
Subsidiaries of Summit Bank Corporation (incorporated by reference to Exhibit 21.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1999)
23.1
Consent of Independent Registered Public Accounting Firm
31.1
Certification of Chief Executive Officer and Acting Chief Financial Officer
32.1
Certification of Chief Executive Officer and Acting Chief Financial Officer
* Denotes a management contract, compensatory plan or arrangement
23-25
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
27-28
Index to Exhibits
Exhibit
Number
Description
3.1
Amended and Restated Articles of Incorporation of Summit Bank Corporation (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002)
3.2
Bylaws of Summit Bank Corporation, as amended (incorporated by reference to Exhibit 3.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002)
4.1
The rights of security holders are defined in (i) Articles Five, Six, Nine, Ten, Eleven, Thirteen, Fourteen, and Sixteen of the Amended and Restated Articles of Incorporation of Summit Bank Corporation and (ii) Articles Two, Three, Eight, Ten, and Eleven of the amended Bylaws of Summit Bank Corporation, as provided in Exhibits 3.1 and 3.2 respectively.
4.2
Indenture dated September 30, 2003 between Summit Bank Corporation and The Bank of New York relating to Trust Preferred Securities issued by the Company (incorporated by reference to Exhibit 4.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003)
10.1
Summit Bank Corporation 1998 Stock Incentive Plan, as of February 23, 1998 (incorporated by reference to Appendix A to the Company's Proxy Statement filed on March 18, 1998)
10.1a
Form of option agreement pursuant to the Summit Bank Corporation 1998 Stock Incentive Plan for employees.
10.1b
Form of option agreement pursuant to the Summit Bank Corporation 1998 Stock Incentive Plan for non-employees.
10.2
Lease Agreement dated December 3, 1993, between Baker Dennard Co., Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.4 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1993) (Main office)
10.2a
Fifth Amendment to Lease Agreement (referenced in Exhibit 10.2 and incorporating amendments One through Four), dated March 13, 2000, between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co., Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2a to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000) (Main office)
10.2b
Sixth Amendment to Lease Agreement (referenced in Exhibit 10.2), dated January 4, 2001 between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co, Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2b to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2000) (Main office)
10.2c
Seventh Amendment to Lease Agreement (referenced in Exhibit 10.2), dated March 29, 2002 between The Realty Associates Fund IV, L.P., successor in interest to Baker Dennard Co, Lessor, and Summit National Bank, Lessee (incorporated by reference to Exhibit 10.2c to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002) (Main office)
10.3
Change in Control Agreement dated August 25, 1995 by and between Pin Pin Chau, President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.7 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.4
Change in Control Agreement dated August 25, 1995 by and between David Yu, Chairman of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.8 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.5
Change in Control Agreement dated August 25, 1995 by and between Alec Dudley, Executive Vice President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.6
Change in Control Agreement dated August 25, 1995 by and between Gary McClung, Executive Vice President of the Summit National Bank, and the Summit National Bank (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1995)
10.7
Post Retirement Compensation Agreement dated December 20, 2004 by and between Pin Pin Chau, CEO of the Company, and the Company
11.1
Statement Regarding Computation of Net Income per Share
13.1
2004 Annual Report to Shareholders
14.1
Code of Ethics (incorporated by reference to Exhibit 14.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003)
21.1
Subsidiaries of Summit Bank Corporation (incorporated by reference to Exhibit 21.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1999)
23.1
Consent of Independent Registered Public Accounting Firm
31.1
Certification of Chief Executive Officer and Acting Chief Financial Officer
32.1
Certification of Chief Executive Officer and Acting Chief Financial Officer
29-30