SBIT Summit Bancshares

FORT WORTH, Texas, Oct. 18 /PRNewswire-FirstCall/ -- Summit Bancshares, Inc. (NASDAQ:SBIT), today announced that its Board of Directors declared a quarterly dividend of $.08 per share of common stock. Annualized, this represents a dividend payout of $.32 per share. The dividend will be paid on November 15, 2006 to shareholders of record on November 1, 2006. Summit Bancshares is a community oriented bank holding company with one banking subsidiary -- Summit Bank, N.A. -- and assets of $1.2 billion. The bank is engaged in full-service commercial and consumer banking in Tarrant County with twelve offices. Summit Bancshares is publicly-traded on the Nasdaq National Market System and listed under the symbol "SBIT". For more information on Summit Bancshares, please visit the Company's website at http://www.summitbank.net/ . Certain statements contained in this press release that are not historical in nature, including statements regarding the Company's and/or management's intentions, strategies, beliefs, expectations, representations, plans, projections, or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Act. We are including this statement for purposes of invoking these safe harbor provisions. Forward-looking statements are based on assumptions involving certain known and unknown risks and uncertainties, many of which are beyond the Company's control, and other important factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties are described from time to time in the Company's filings with the Securities and Exchange Commission, including but not limited to, those set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2005. http://www.newscom.com/cgi-bin/prnh/20041025/DASBANKLOGO http://photoarchive.ap.org/ DATASOURCE: Summit Bancshares, Inc. CONTACT: Bob G. Scott of Summit Bancshares, Inc., +1-817-877-2660 Web site: http://www.summitbank.net/

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