[X]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

          EXCHANGE ACT OF 1934

          For the quarterly period ended March 31, 2003

OR

[  ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

          EXCHANGE ACT OF 1934

          For the transition period from                          to                                       

                   Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Indicate by check mark whether the registrant is an accelerating filer (as defined in Rule 12b-2 of the Exchange Act).

APPLICABLE ONLY TO CORPORATE ISSUERS:

The Exhibit Index Appears on Page 18

ITEM 1. FINANCIAL STATEMENTS
SUMMIT BANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

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SUMMIT BANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)

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SUMMIT BANK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

See Accompanying Notes to Condensed Consolidated Financial Statements.

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SUMMIT BANK CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

This quarterly report contains forward-looking statements and information relating to our subsidiaries and us. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements reflect management's beliefs and assumptions, and are based on information currently available to management. Because these statements reflect the current views of management concerning future events, they involve risks, uncertainties and assumptions, including the risk that unanticipated changes in the interest rate environment could reduce our margins, competition or general economic conditions could be worse than we expect, and legislative or regulatory changes could adversely affect our business. Actual results may differ significantly from the results discussed in the forward-looking statements. We undertake no obligation to update publicly any forward-looking statement for any reason, eve n if new information becomes available.

In reviewing and understanding financial information for the Company, you are encouraged to read and understand the significant accounting policies which are used in preparing the consolidated financial statements of the Company. These policies are described in Note 1 to the consolidated financial statements which were presented in the Company's 2002 Annual Report on Form 10-K. Of these policies, Management believes that the accounting for the allowance for loan losses is the most critical.

Losses on loans result from a broad range of causes from borrower specific problems, to industry issues, to the impact of the economic environment. The identification of these factors that lend to default or non-performance under a borrower loan agreement and the estimation of loss in these situations are very subjective. In addition, a dramatic change in the performance of one or a small number of borrowers can have a significant impact in the estimate of losses. The depth and duration of any economic recession could impact the credit risk associated with the loan portfolio. Another factor in the analysis is a consideration of concentrations of credit within specific industry sectors. Management monitors loan concentrations in any one industry in relation to the Bank's equity capital and has established limits to mitigate risk. At March 31, 2003, the Bank's largest concentrations are retail trade loans: convenience stores, restaurants, food stores, and liquor stores, which totaled approximately $111 million, or 316%, of capital; commercial real estate loans which totaled approximately $79 million, or 226%, of capital; and loans to service providers: financial, health, hotel and dry cleaners, which totaled approximately $43 million, or 124%, of capital. These concentrations are all within established policy limits. Management has not identified any specific industry weakness that may negatively impact the loan portfolio.

As described further below, management has implemented a process that has been applied consistently to systematically consider the many variables that impact the estimation of the allowance for loan losses. See also "Allowance and Provision for Loan Losses."

The Company reported net income of $1,030,000 for the first quarter of 2003, compared to $849,000 for the first quarter of 2002, an increase of 21%. Moreover, the quality of the earnings improvement was even more significant when considering the special gains recognized in the prior period. The increase in earnings was primarily attributed to an improvement in net interest income resulting from asset growth and lower funding costs. Net earnings per share for the first quarter of 2003 were $.27 (basic and diluted) compared to $.22 (basic and diluted) for first quarter 2002, adjusted for the November 2002 stock split. Loan growth has continued at a strong pace while demand and other low rate deposits also grew over 5% during the current quarter. Other borrowed funds costs declined significantly since the end of last year, while the net interest margin has remained stable at about

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 4%, comparable to the first quarter of 2002. First quarter 2002 earnings of $849,000 included $200,000 (after-tax) in unrealized gains on the valuation of an interest rate swap, while the current period reflected core earnings with no similar gains. Interest income increased $265,000, while interest expense declined $245,000, comparing the first quarters of 2003 and 2002. The increase in interest income was attributed to the growth of the loan portfolio, which was partially offset by lower interest rates. The decline in the cost of funds was attributed largely to the continued repricing of time deposits to much lower rates as well as the maturity of a $5 million Federal Home Loan Bank ("FHLB") advance. This advance was replaced with a $10 million advance at a much lower cost. Total loans were $270 million at March 31, 2003, up $34 million, or 14%, from total loans at March 31, 2002. Noninterest income was $261,000 lower for the quarter compared to first quarter last year, while noninterest e xpenses were fairly flat for the comparable periods. The decrease in noninterest income was attributed to the unrealized gain on the interest rate swap in 2002.

The annualized return on average stockholders' equity for the 2003 three-month period was 13.1% versus 12.3% for the 2002 three-month period, and the return on average assets was 1.01% in the 2003 period compared to .97% in the 2002 period. Book value per share was $8.38 at March 31, 2003 compared to $8.27 at December 31, 2002 and $6.78 at March 31, 2002. In the first quarters of 2003 and 2002, the Company paid a cash dividend of $.13 and $.09 per share, respectively. The prior period amount was restated to reflect the fourth quarter 2002 stock split.

Total assets of the Company were $420 million at March 31, 2003, reflecting a 4.3% growth rate for the quarter. Loan growth was the primary contributor to this increase in assets. Total loans have grown $12 million, or 4.4%, since December 31, 2002, primarily in commercial loans, funded mainly with new deposit growth. The loan to deposit ratio at March 31, 2003 remained stable at 80%, comparable to the ratio at the end of 2002. The investment portfolio increased $2.5 million in the first quarter 2003 as new purchases of mortgage-backed securities more than offset principal collections in the portfolio.

Total deposits increased $17 million, or 5%, during the first quarter to $335 million, with $9 million of the increase comprised of demand deposits. Noninterest-bearing demand deposits grew 6% during the quarter reflecting Summit's continued focus on small business checking. The remainder of the increase was primarily in time deposits. At March 31, 2003, demand deposits represented over 23% of the Bank's total deposit base. Total time deposits at March 31, 2003 were $175 million compared to $167 million at December 31, 2002. Other borrowed funds, in total, remained stable during the quarter, however, the cost of these funds declined significantly when a short-term repurchase agreement and a maturing FHLB advance at a weighted-average rate of 4% were replaced with a FHLB advance bearing a current floating rate of .75%, adjustable quarterly.

Net interest income increased 16%, or $510,000, in first quarter 2003, compared to first quarter 2002. The increase was primarily due to both growth in the loan portfolio and reduction in funding costs. The provision for loan losses was $214,000 in first quarter of 2003 compared to $365,000 during the same period last year. The decrease was a result of an analysis of the allowance for loan losses indicating a decline in total classified assets at March 31, 2003, despite a temporary increase in non-performing assets. Interest expense on time deposits decreased $53,000 comparing first quarter 2003 to first quarter 2002, as existing certificates of deposit have matured and repriced at lower rates over the past year. This has been the primary factor in the lower cost of funds

As a result of the previously mentioned $200,000 after-tax unrealized gain on an interest rate swap in the first quarter of 2002, there was a decrease in noninterest income this year. In the current first quarter period, noninterest income was $916,000, down from $1,177,000 for first quarter last year. International fee income increased $51,000 to $297,000 in first quarter 2003 compared to the same quarter last year due to an increase in various types of transactional volume, particularly export letters of credit. Other noninterest income components were relatively flat compared to first quarter last year.

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There was also minimal change in total noninterest expenses comparing the current quarter to the same quarter in 2002. Salaries and employee benefits increased 4.6% as a result of additional positions and merit increases. There were 115 full-time equivalent employees at March 31, 2003, an increase of three in the past year. Occupancy costs increased $30,000 this quarter over first quarter last year primarily due to normal rent escalations. Additionally, in third quarter 2002, the Bank expanded into 1,800 square feet of office space in the Asian Banking Center branch on Shallowford Road, thus foregoing rental income on this space. Other professional fees decreased $69,000 primarily due to certain consulting fees related to strategic planning that were recorded in first quarter 2002. Accounting fees increased this year approximately $30,000, due to fees related to the Bank's real estate investment trust. Legal fees declined $66,000 to $60,000 this year to date compared to the same period last year as collection efforts on several large loans ended in mid-2002. For the first three months of this year, the Company's efficiency ratio improved to 62% from 65% for the same period last year, primarily due to higher interest income this year.

Non-performing assets were $1,995,000 at March 31, 2003 compared to $1,006,000 at year-end 2002. Non-performing assets at December 31, 2002 consisted of one commercial loan secured by business assets, one commercial loan secured by real estate, and a SBA loan fully guaranteed by the SBA. The March 31, 2003 amount included those same loans, as well as an additional $463,000 commercial loan collateralized with business assets, a $697,000 commercial loan secured by real estate that was foreclosed upon subsequent to March 31, 2003, and one $25,000 SBA loan, which represents the unguaranteed portion of the loan. Non-performing assets also included other real estate owned of $141,000 representing one piece of foreclosed property. Of the $2 million total amount at March 31, 2003, $533,000 represents two properties under contract for sale during second quarter 2003. Non-performing assets represented .74% of total loans and other real estate owned as of March 31, 2003 compared to .39% at December 31, 2002. Th e remaining $1.5 million of non-performing loans, assuming both sales contracts close, included $246,000 that was fully guaranteed by the SBA. There were no loans past due 90 days or more as to principal or interest payments and still accruing at March 31, 2003.

The allowance for loan losses represents a reserve for probable loan losses in the loan portfolio. The adequacy of the allowance for loan losses is evaluated periodically based on a review of all significant loans, with particular emphasis on impaired, non-accruing, past due, and other loans that Management believes require special attention. The determination of the allowance for loan losses is subjective and considered a critical accounting policy of the Company.

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When reviewing the allowance for loan losses, it is important to understand to whom the Company lends. The loan portfolio is primarily comprised of loans to small businesses. In particular, the Company has developed lending niches in a number of industries, the most prevalent of which, include restaurants, convenience stores, and strip shopping centers. The risk to lending to these types of businesses is that they typically are more vulnerable to changes in economic conditions. The Company has mitigated the risk to these types of borrowers in several ways. First a large portion of these loans is supported by government guarantees obtained from the Small Business Association. Secondly, the majority of the Company's loans are well secured with marketable real estate, and thirdly, the Company performs in-depth economic analyses on these industries in order to remain abreast of current trends and conditions.

The allowance for loan losses methodology is based on a loan classification system. For purposes of determining the required allowance for loan losses and resulting periodic provisions, the Company segregates the loan portfolio into broad segments, such as: consumer, commercial and SBA loans. The Company provides for a general allowance for losses inherent in the portfolio for each of the above categories. The general allowance for losses is calculated based on estimates of inherent losses which probably exist as of the evaluation date. Loss percentages used for this portion of the portfolio are generally based on historical loss factors adjusted where necessary for qualitative factors. The general allowance for losses on problem loans in these categories is based on a review and evaluation of these loans, taking into consideration financial condition and strengths of the borrower, related collateral, cash flows available for debt repayment, and known and expected economic trends and conditions. Gen eral loss percentages for the problem loans are determined based upon historical loss experience and regulatory requirements. For loans considered impaired, specific allowances are provided in the event that the specific collateral analysis on each problem loan indicates that the probable loss upon liquidation of collateral would be in excess of the fair value of the collateral if the loan is collateral dependent or if the present value of expected future cash flows are less than the loan balance. In addition to these allocated reserves, the Company has established an unallocated reserve of $293,000 at March 31, 2003. The basis for the unallocated reserves is due to a number of qualitative factors, such as migration trends in the portfolio, trends in volume, the risk identification process, changes in the outlook for local and regional economic conditions and concentrations of credit.

The allowance for loan losses increased to $3.6 million at March 31, 2003 from $3.4 million at year-end 2002, an increase of 6%. The increase was due to the 4.5% growth rate in the loan portfolio during 2003. Combined criticized and classified assets at March 31, 2003 were $3.9 million compared to the $4.4 million at December 31, 2002, a decline of 10%, indicating an improvement in quality despite the continued growth of the portfolio and the increase in non-performing assets. Gross charged off loans for the year to date through March 2003 totaled $50,000, while recoveries for the period totaled $44,000, for an annualized net charge-off rate of .01% of average total loans. The net charge-off rate for the first three months of 2002 was .23%.

The allowance for loan losses represented 1.35% and 1.33% of total loans outstanding at March 31, 2003 and December 31, 2002, respectively. The determination of the allowance for loan losses rests upon Management's judgment about factors affecting loan quality, assumptions about the economy, and other factors; however, Management's judgment is based upon a number of assumptions, which are believed to be reasonable, but which may or may not prove valid. Thus, there can be no assurance that charge-offs in future periods will not exceed the allowance for loan losses or that additional increases in the allowance for loan losses will not be required. In addition, various regulatory agencies, as an integral part of their examination process, periodically, review the Company's allowance for loan losses. Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

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The following table represents an analysis of the Company's allowance for loan losses including the provision for loan losses and net loan charge-offs for the three months ending March 31, 2003 and 2002.

Based on an analysis performed by management at March 31, 2003 the allowance for loan losses is considered to be adequate to cover loan losses in the portfolio as of that date. However, because of the inherent uncertainty of the assumptions we use in our loan analyses, management cannot assure that loan losses in future periods will not exceed the allowance for loan losses or that additional allocations to the allowance will not be required.

Interest rate swap transactions generally involve the exchange of fixed and floating rate interest rate obligations without the exchange of underlying principal amounts. Entering into interest rate contracts involves not only interest rate risk, but also the risk of counterparties' failure to fulfill their legal obligation. Notional principal amounts often are used to express the volume of these transactions, but the amounts potentially subject to credit risk are much smaller.

In fourth quarter 2001, the Company entered into a fixed rate interest rate swap with a notional amount of $25 million to reduce the interest rate risk on certain of variable rate loans. The interest rate swap changed the variable-rate cash flow exposure on a portion of the loan portfolio to fixed rate cash flows. This swap is currently designated as a hedge instrument against those cash flows and, therefore, any fluctuations in fair value of the interest rate swap are recorded as an adjustment to equity and established as an asset or liability. At March 31, 2003, the fair value of the interest rate swap was a gain of $906,000. This swap matures on October 31, 2004.

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In first quarter 2003, the Company entered into a second fixed rate interest rate swap with a notional amount of $25 million to further reduce the interest rate risk on certain of variable rate loans. Except for the fixed rate and the maturity date, the terms of the swap are consistent with the interest rate swap previously mentioned. This swap is also currently designated as a hedge instrument against those cash flows and, therefore, any fluctuations in fair value of the interest rate swap are recorded as an adjustment to stockholders' equity. At March 31, 2003, the fair value of the interest rate swap was a loss of $244,000. This swap matures on March 14, 2007.

Liquidity has been stable during the first quarter of 2003 as solid deposit growth has provided adequate funding for loan expansion. At March 31, 2003, the Company's net loan to deposit ratio was 80%, flat compared to the end of 2002. Management analyzes the level of off-balance sheet assets and liabilities such as unfunded loan commitments and outstanding letters of credit as they relate to the levels of cash, cash equivalents, liquid investments, and available federal funds lines to ensure that a potential shortfall does not arise. Based on this analysis, management believes that the Company has adequate liquidity to meet short-term operational requirements.

Stockholders' equity of the Company increased $385,000 during first quarter 2003, to $32 million as a result of total net income net of dividends paid to shareholders.

The capital level of the Bank exceeds all prescribed regulatory capital guidelines. Regulations require that the most highly rated banks maintain a minimum Tier 1 leverage ratio of 3%, and require other banks to maintain a minimum Tier 1 leverage ratio of 3% plus an additional cushion of at least 1 to 2 percentage points. Tier 1 capital consists of stockholders' equity less certain intangible assets. The Bank's Tier 1 leverage ratio was 6.8% at March 31, 2003 compared to 6.9% at year-end 2002. Regulations require that the Bank maintain a minimum total risk weighted capital ratio of 8% with 50%, or 4%, of this amount made up of Tier 1 capital. Risk-weighted assets consist of balance sheet assets adjusted by risk category and off-balance sheet asset equivalents similarly adjusted. At March 31, 2003, the Bank had a risk-weighted total capital ratio of 11.0% and a Tier 1 risk-weighted capital ratio of 9.8%, slightly below year-end 2002 ratios of 11.3% and 10.2%, respectively.

In addition to the Company's contractual obligations such as deposits, FHLB advances and other borrowed funds, the Company has commitments to its customers under lines of credit. The total of these commitments at March 31, 2003 was approximately $28 million. The lines include conventional revolving lines of credit that consist of commercial working capital lines that renew annually. Commitments also include annually renewing international lines for letters of credit availability. There are commitments under lines of credit which are not revolving that are used by customers for specific purposes, as well as various types of consumer lines of credit. These include lines secured by mortgages on residential real estate and unsecured revolving credit lines. Although Management regularly monitors the balance of outstanding commitments to ensure funding availability should the need arise, historical records indicate that the total of outstanding commitments is a very consistent amount, and the risk of all cu stomers fully drawing on all these lines at the same time is remote.

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The following table is a summary of the Company's commitments to extend credit, commitments under contractual leases, as well as the Company's contractual obligations, consisting of deposits, FHLB advances and borrowed funds, by contractual maturity date.

As of March 31, 2003, there were no substantial changes from the interest rate sensitivity analysis or the market value of portfolio equity for various changes in interest rates calculated as of December 31, 2002. The foregoing disclosures related to the market risk of the Company should be read in conjunction with the Company's audited consolidated financial statements, related notes and management's discussion and analysis of financial condition and results of operations for the year ended December 31, 2002 included in the Company's 2002 Annual report on Form 10-K.

Within 90 days prior to the date of this report, the Company carried out an evaluation, under the supervision and with the participation of the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures pursuant to Exchange Act Rule 13a-14. Based upon that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures are effective in timely alerting them to material information relating to the Company (including its consolidated subsidiaries) that is required to be included in the Company's periodic filings with the Securities and Exchange Commission. There have been no significant changes in the Company's internal controls or, to the Company's knowledge, in other factors that could significantly affect those internal controls subsequent to the date the Company carried out its evalu ation, and there have been no corrective actions with respect to significant deficiencies or material weaknesses.

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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed by the undersigned, thereunto duly authorized.

Each of the undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that this Quarterly Report on Form 10-Q for the quarter ended March 31, 2003 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of the Company.

This 12^th day of May, 2003.

Exhibit 99.1

I, Pin Pin Chau, Chief Executive Officer of Summit Bank Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Summit Bank Corporation;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

1. designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

2. evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and

3. presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

1. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

1. all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and

2. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and

1. The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Date: May 12, 2003

I, Gary K. McClung, Chief Financial Officer of Summit Bank Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Summit Bank Corporation;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

1. designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

2. evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and

3. presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

1. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

1. all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and

2. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and

1. The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Date: May 12, 2003

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Exhibit 11.1

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