We will accept applications in the Fall.
Summit Bank is a customer-focused community bank with locations throughout central and south-central Arkansas. One of the fastest growing banks in Arkansas, Summit has expanded from one location with $50 million in total assets in early 2000, to 19 locations with $910 million in total assets. With such strong growth, Summit is searching for intelligent, highly-motivated, personable individuals who would like to work in the financial services industry. Our aim is to train several such individuals in every aspect of the Bank with the hope that they will ultimately join our management team. If you are interested in this program apply online by clicking “Apply Now” and you will be directed through the process of applying for this great opportunity. Or, contact our Human Resources Department at 870-246-5440 to request an Executive Banker Program packet.
MORE ABOUT SUMMIT BANK
Ross Whipple Chairman |
Summit has grown from one location in 2000, to 18 retail banking locations in Arkadelphia, Benton, Hope, Hot Springs, Hot Springs Village, Little Rock, Magnolia, and Malvern. Arkadelphia serves as the Bank’s corporate headquarters, with the offices of the Chief Executive Officer, the Corporate President, the Chief Financial Officer, the Senior Lender, the Human Resources Department, the Loan Operations Department, and the Security and Purchasing Department all located there. The Bank’s deposit operations, information technology systems and training functions are coordinated in Malvern. Other regions also host some corporate offices, with the Audit and Compliance Department located in Hot Springs and the Loan Review and Credit Analysis Departments housed in Benton. |
At mid-year 2007, the Bank reported total deposits of $687 million and total loans of $666 million. The Bank earned $8.461 million in 2006, which equated to a 1.11% return on assets and a 13.26% return on equity. The Bank is a state-chartered bank, and is, therefore, regulated by the Arkansas State Bank Department and the Federal Deposit Insurance Corporation. The Bank’s Holding Company, Summit Bancorp, is regulated by the Federal Reserve Bank. The Bank plans to continue to aggressively grow the Bank’s Balance Sheet and Income Statement. With a strong capital position, we are poised to expand our franchise to other markets if accretive opportunities present themselves. Summit Bank’s mission is to enhance shareholder value by providing value to our customers by offering superior products and services through professional bankers. Everyone at Summit works together to achieve that goal. We aim to provide superior and attentive customer service with a friendly, community oriented flair. With products ranging from residential home mortgages and high interest-bearing savings accounts to commercial lines of credit and high volume business checking accounts, our focus is primarily on individuals and small-to medium- sized businesses. Whether serving a multi-million dollar business with several accounts or an individual with one checking account, Summit employees care deeply about their customers. This devotion cannot be matched by our competition. |
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From an employee’s perspective, Summit Bank is a friendly, dynamic, and exciting place to work. “The Summit” prides itself on providing an encouraging and interactive working environment in which every employee is a valuable member of our financial team. Summit provides competitive benefits, innovative technology and products, as well as opportunities for advancement within the Bank. One extremely attractive component of Summit’s benefits package is its 401(k) retirement plan, which allows all employees to defer a portion of their wages, with a generous employer match on a portion of their deferral. Each employee allocates his or her retirement funds within the nine investment choices offered by our plan. In order to build upon and continue our success, the Bank must rely on capable, determined employees committed to Summit’s vision. We hope you are interested in joining the Summit team, and we encourage you to apply for admission to this program. ABOUT THE PROGRAM |
The Executive Banker Program provides, over the course of two years, an opportunity to gain a comprehensive working knowledge of every area of the Bank, to learn how each department and market work together, and to specialize in a particular area of the Bank if you so desire. Part I of the program (approximately 12 months) will be spent rotating between each Bank department and shadowing nearly every position within the Bank. A more detailed description of the curriculum for Part I is attached. Following Part I, participants may be offered participation in Part II of the program. Each participant will meet with the Human Resources Manager and Senior Management to discuss the participant’s performance, his or her areas of interest within the Bank, and the department in which the participant wishes to concentrate during the second year. The availability of positions in each department, the participant’s desired location, and other factors will be considered in this decision. Following this discussion, the participant will spend approximately nine months in more intensive training in the chosen department. A curriculum will be designed to prepare the participant to work in their chosen area of the Bank. This curriculum may include external training in areas appropriate to the participant’s focus. Following Completion of the Program |
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APPLICATION
A college degree is required. Applicants must complete and/or forward ALL of the following information to be considered:- Application for employment (“Apply Now”)
- Submit an essay (500 words or less) discussing what you hope
to accomplish by completing this program and why you wish to
pursue a career in banking and financial services. Also, describe
an experience or experiences you had in your life when answering
this question (may be submitted as an attachment online with
the Application for Employment).
- Complete and submit Predictive Index Organization Survey
Checklist (completed online with Application for Employment).
- Forward two Letters of Recommendation, with at least one
being from a professor or administrator at the applicant’s most
recent school.
- Forward a transcript from any college, university or graduate
school attended.
- Sign and forward a Credit Report/Background Authorization
Form (may be printed from Application for Employment site).
Following the application period, the Bank will select those applicants it wishes to interview. Interviews will be conducted with the Human Resource Manager and at least one member of Senior Management.
Compensation
The minimum salary for a participant in the first year
of the program is $30,000, paid bi-weekly, and subject
to all applicable payroll taxes. Upon commencement
of employment, a signing bonus of $1,000 will be paid.
Education or experience beyond that required for
admission to the program may result in a higher
starting salary. Each participant will receive insurance
and other benefits under the same terms as all other
full-time employees. Following successful completion
of the first year, each participant offered participation
in the second year of the program may receive a salary
increase to be effective for the entire second year. Each
such participant may also receive a bonus, which may
take the form of cash, stock appreciation rights, or
some other form of compensation.
Location
Spending time working in each department of the
Bank will involve travel to the seven regions in which
Summit Bank conducts business. The majority of the
program will be held in Arkadelphia, Malvern, and Hot
Springs, where our corporate and support operations
are housed. Each participant must be willing and able
to travel to all departments and regions of the Bank.
However, each applicant’s place of residence is flexible.
Preference may be given to candidates interested in
settling in a region where Summit Bank has a branch.
Employees will be reimbursed on a per-mile basis for
travel between the regions, consistent with the Bank’s
reimbursement policy.
Coordination
A representative of the Human Resources Department
will coordinate the program. This representative will
facilitate the participant’s placement in each area within
the Bank and will be available to address questions and
concerns. During each rotation, the Department Head
in the department in which the participant is working
will serve as the participant’s immediate supervisor. The
participant will report to the immediate supervisor and
will be responsible for assigned duties, attendance, team
participation, and any special projects assigned while
working in that department. Each participant should
endeavor to learn all they can from supervisors and
other personnel in each department. Following each
rotation, each participant will be evaluated by his or her
immediate supervisor during that rotation. The Human
Resources Manager will review each evaluation.
Each participant will also be paired with a Mentor within the Bank. Mentors will also be available to counsel and guide participants as they learn various aspects of the banking business. The Human Resources Manager and Mentor will meet with each participant quarterly to discuss their progress and thoughts on the departments in which they worked during the previous quarter.
Each participant must keep a journal throughout the program. As participants work in various areas of the Bank, they should note their observations in this journal. New ideas and thoughts on how the Bank may improve are encouraged. A participant’s ideas may be discussed with Senior Management and reviewed for possible implementation. Participants will submit their journals on a quarterly basis. Journal entries will be discussed during quarterly reviews.
Thank You for your interest in Summit Bank and the Executive Banker Program. Once again, we hope you are interested in joining the Summit Team. If you have any questions, please call our Human Resources Department at (870) 246-5440 or visit our website SummitBankDirect.com. to apply for this exciting opportunity.
CURRICULUM
I. DEPOSITS
Deposit Operations
Deposit Operations forms the backbone of all deposit activities in Summit’s branch network. This department
ensures the accuracy of numerous transactions every day. While working in Deposit Ops, you will become
familiar with the processing and clearing of checks, including insufficient funds items, overdrawn accounts,
signature cards, official checks, new and closed accounts, stop payments, checking and savings account
statements and statement preparation, certificate of deposit and individual retirement account interest
calculation and remittance, and automated teller machine and debit card transactions.
Information Technology
The IT Department coordinates all aspects of the Bank’s processing and communications systems. During
your time in this department, you will gain a general understanding of the Bank’s computer system, including
the Bank’s “core” system and other software used by the Bank. You will become familiar with the Federal
Reserve’s check clearing system and Summit’s participation in that system, including the production of the
Bank’s daily cash letter. While working as an item capture specialist, you will witness how Summit’s item
capture system ensures accuracy of customer transactions. You will also discuss and consider the increased
use of Automated Clearing House transactions and electronic, truncated items.
Retail-Deposit Functions
The vast majority of our customers’ interaction with the Bank occurs in front of a teller window or at a customer
service representative’s desk. You will spend several weeks focusing on this area of the Bank. While working
as a teller, you will learn how to handle a wide range of transactions while making a customer feel comfortable
and confident with Summit. Once you master your job as a teller, you will learn how to market and open new
accounts. Emphasis will be placed on your ability to relate to the customer, to competently handle all customer
requests, and to accurately describe and market Summit’s deposit products. You will also gain a working
knowledge of Federal Reserve Bank Regulations that retail bankers encounter every day.
II. LOANS
Loan Operations
The Loan Operations Department performs back-office support for the Bank’s entire lending function. The
department is responsible for the processing, tracking and servicing of loans. You will learn how to prepare
and identify loan documents for each type of loan, including commercial loans, residential mortgage loans,
and installment loans. You will also learn how the Bank tracks financial and collateral exceptions to ensure
loan quality, learn to operate the Bank’s loan filing and scanning system, and learn other aspects of
maintaining the numerous loans in the Bank’s loan portfolio.
Loan Assistant Training
During Loan Assistant training, you will learn the “nuts and bolts” of preparing loan packages for approval by
appropriate committees, monitoring financial and collateral information, assembling complete and proper loan
files, and ensuring regulatory compliance of loans. Emphasis will be on learning the components of loan
packages and files, Summit’s credit approval process, underwriting guidelines, and proper documentation.
Credit Analysis
The Credit Analysis Department assists loan officers and loan review by preparing cash flow worksheets,
balance sheets, income statements, and key business performance ratios from tax returns and other information
provided by commercial customers. In this department, you will help the Bank’s analysts review and evaluate
customers’ financial information. You learn to prepare worksheets and spreadsheets on your own and to use
them to make credit decisions.
Loan Review
Loan Review is responsible for reviewing consumer and commercial files for adherence to the Bank’s loan policy,
proper documentation and quality of credit underwriting. The Bank’s loan review team functions as an internal
examiner of the Bank’s credit decisions. You will participate in an evaluation of a region’s loan portfolio by
examining credit files and rating loans under the Bank’s classification system. In so doing, you will learn to
spot common omissions in loan files and strengths and weaknesses in credit.
Lending
Loans comprise approximately 70% of the Bank’s asset base and are the Bank’s most important earning asset.
Loans are sought and initially underwritten by loan officers in the Bank’s seven regions. You will shadow loan
officers in several regions to learn how they seek out and maintain loans. You will observe the practices of
different loan officers as they make various types of loans, including automobile, residential mortgage, home
equity, commercial real estate, commercial line of credit, and small business loans. Interaction with loan
customers and making good credit decisions will be emphasized.
Credit Administration / Loan Policy
The Bank’s Senior Lender oversees all aspects of credit within the Bank. You will help to monitor the Bank’s loan
portfolio and in so doing, you will learn the basics of credit analysis, underwriting, regulatory compliance, and
overall decision-making. You will help to organize and sit in on Large Loan Committee meetings. You will
also gain a working knowledge of the Bank’s loan policy. The loan policy is the handbook relied upon by lenders
and compliance staff to ensure the soundness of the Bank’s credit decisions. You will become familiar with the
Bank’s policy, consider the rationale behind various rules, and gain an appreciation of the policy’s usefulness in
the Bank’s lending function.
III. CORPORATE AND SUPPORT
Wire Transfer / Cash Management / Accounts Payable / Fixed Assets
The Wire Transfer Department handles all incoming and outgoing wires for the Bank. You will learn to process
wires through the FedLine system and in and out of customer accounts. Cash Management/Accounts Payable
is responsible for paying and managing Bank expenses and ensuring compliance with applicable IRS regulations
and internal Bank policies.
Purchasing / Security
During your time in this department, you will focus on the security of Summit Bank’s branches and locations.
You will learn basic theft and disaster response procedures and evaluate the Bank’s preparedness for fraud,
robbery, or other potential threats. You will also become familiar with the processes and procedures for
maintaining and supplying Summit’s branches and support locations.
Audit/Compliance
Banks are highly regulated entities. Working under the Bank’s Audit and Compliance Manager will allow you
to learn the basics of bank regulation. You will also help to ensure that the Bank remains in compliance with all
state and federal regulations. Finally, you will apply your knowledge of these regulations by assessing a region or
department’s compliance.
Corporate Senior Management / Asset / Liability Management / Regulatory Reporting
While working with Corporate staff, you will learn the roles of the Bank’s Chief Financial Officer, President,
and Chief Executive Officer, as well as their respective support staffs. You will participate in various discussions
regarding management of the Bank, including the formulation and monitoring of the Bank’s budget, the
preparation and analysis of the myriad of Bank performance reports, and strategic planning for the Bank.
While sitting in on portions of a Board of Directors’ meeting, a Board committee meeting and other Bank
planning meetings, you will learn how all departments of the Bank work together and observe how Senior
Bank Staff guides and manages the Bank.
Human Resources Department
The Human Resources Department oversees the administrative aspects of the Bank’s employment of over 225
employees. You will become familiar with regulatory guidelines for hiring and maintaining employee information.
While helping to administer the benefits the Bank provides to its employees, you will become familiar with each
benefit program as well as the cost and regulatory constraints of them. Finally, you will help to coordinate and
will participate in the Bank’s efforts to train each employee in a variety of aspects of the business.