Craig Wanichek, president and CEO of Summit Bank, has announced the Summit Bank Business Confidence Index that will be provided to the local business communities the bank serves on a quarterly basis.
(Graph | Courtesy of Summit Bank)
The Summit Bank Business Confidence Index (SBCI) is comprised of nine variables that look back across the prior 25 years to form a base from which to discuss, for the benefit of local business leaders and owners, the current climate for small- to medium-size businesses and the confidence with which those entities are engaged in their market places. The index is comprised of information that speaks to the confidence at the national, regional and local level, with a particular focus on the markets served by Summit Bank and the types of factors that might impact decisions around growth and financing.
“A core value of the bank is our belief and personal responsibility to serve the communities in which we do business. We are constantly seeking to identify ways that we can be a resource and tool for information and decision-making for the local businesses we serve,” said Wanichek. “We believe the creation of Summit Bank Business Confidence Index is another demonstration of that commitment, and will be an excellent complement to our annual economic summit and the expertise and financial acumen that our Business Client Advisors provide.”
“The SBCI saw a softening in the latter half of 2018 and early part of 2019, but recent positive trends in construction permitting, small business performance and stability within the market has seen a strengthening in business confidence,” said Wanichek. “We believe uncertainty surrounding the economy and the potential impact of such headwinds as a trade dispute have eased, which has reassured businesses heading into 2020 that the economy remains at least stable around a moderate level of strength.”
With offices in Eugene, Central Oregon and downtown Portland, Summit Bank is a business bank that specializes in providing high-level service to professionals and medium-sized businesses and their owners. Summit Bank is quoted on the NASDAQ Over-the-Counter Bulletin Board as SBKO. Summit Bank was recognized earlier this year as one of the top 200 Community Banks in America (number 34) by the American Bankers Association. The bank was also honored as one of the Top 100 Green Companies in Oregon, according to Oregon Business Magazine.
