Summit State Bank : Form 8-K~Current Report

FEDERAL DEPOSIT INSURANCE CORPORATION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 12 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 27, 2023

Summit State Bank

(Exact Name of Registrant as Specified in Charter)

California	32203	94-2878925
(State of Other Jurisdiction	(FDIC	(I.R. S. Employer
Of Incorporation)	Certificate Number)	Identification No.)
500 Bicentennial Way		95403
Santa Rosa, CA		(Zip Code)

(Address of Principal Executive Offices)

Registrant's Telephone Number, Including Area Code 707-568-6000

___________________________________________________

(Former Name or Former Address, if Changes Since Last Report)

Check the Appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

• Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
• Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
• Pre-commencementcommunication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
• Pre-commencementcommunication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13d-4 (c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging Growth Company ☐

If an emerging growth company, indicate my check mark if the registrant has elected not to use the extended transition period for complying with any ne or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which
		registered
Common Stock	SSBI	NASDAQ Global Market

Item 7.01. Regulation FD Disclosure

On July 27, 2023, Summit State Bank (the "Bank") issued a press release concerning Big Poppy Holdings, Inc.'s application to acquire up to 24.9% of the Bank's common stock A copy of the news release is attached to this report as Exhibit 99.1.

The information furnished under Item 7.01 and Item 9.01 of this report, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any other filings of the Bank except as shall be set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits:

The exhibit list called for by this item is incorporated by reference to the Exhibit Index filed as part of this report.

Exhibit	Description
Number

99.1 Press release issued on July 27, 2023

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: July 27, 2023

	SUMMIT STATE BANK
By:	/s/__Camille Kazarian____
	Camille Kazarian
	Executive Vice President
	and Chief Financial Officer
	(Duly Authorized Officer)

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Exhibit 99.1

Summit State Bank Press Release dated July 25, 2023

News Release

For Immediate Release

Contact: Brian Reed, President and CEO, Summit State Bank [phone]

Summit State Bank Comments on Big Poppy Bancorp, Inc.'s

Federal Reserve Application

SANTA ROSA, CA - (July 27, 2023) - Summit State Bank (Nasdaq: SSBI) ("Summit") announced today that it is aware that Big Poppy Holdings, Inc. ("Poppy") has published a notice stating that it holds 332,464 shares of the Summit's common stock, which is approximately 4.9% of the outstanding shares, and that it intends to file an application with the Federal Reserve Board to acquire up to 24.99% of Summit's common stock. Poppy is the holding company for Poppy Bank, which is headquartered in Santa Rosa, California.

Summit State Bank's Board of Directors will review Poppy's application and may comment on or respond to the application in due course.

About Summit State Bank

Founded in 1982 and headquartered in Sonoma County, Summit State Bank (Nasdaq: SSBI), is an award-winning community bank servicing the North Bay. Summit serves small businesses, nonprofits, and the community, with total assets of $1,161 million and total equity of $94 million at June 30, 2023. Summit has built its reputation over the past 40 years by specializing in providing exceptional customer service and customized financial solutions to aid in the success of its customers.

Summit State Bank is dedicated to investing in and celebrating the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. Summit has been consistently recognized for its achievements and has been awarded Best Places to Work in the North Bay, Top Community Bank Loan Producer, Raymond James Bankers Cup, Super Premier Performing Bank, the Piper Sandler SM-ALL Star Award, and the Independent Community Bankers of America's Best-Performing Community Banks. For more information, visit www.summitstatebank.com.

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