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May 1, 2020
Summit Bank
Eugene, Oregon-based Summit Bank is offering $5 million in stock at $10 per share. The offering is open for 30 days to new and existing shareholders, with a minimum investment of $25,000 and maximum of $1 million. The bank says the new capital is needed to strengthen its balance sheet in relation to significant growth in Paycheck Protection Program loans associated with the coronavirus pandemic, as well as projected growth in conventional loans. Summit specializes in loans to professionals and medium-sized businesses. It has offices in Eugene, Portland and central Oregon.