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

          EXCHANGE ACT OF 1934

          For the quarterly period ended June 30, 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 accelerated filer (as defined in Rule 12b-2 of the Exchange Act).

APPLICABLE ONLY TO CORPORATE ISSUERS:

The Exhibit Index Appears on Page 19

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

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

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

See Accompanying Notes to Condensed Consolidated Financial Statements.

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 risks that unanticipated changes in the interest rate environment could reduce our margins, that competition or general economic conditions could be worse than we expect, or that 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 r eason, even 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 ranging from borrower specific problems, to industry issues, to the impact of the economic environment. The identification of these factors that lead 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 June 30, 2003, the Bank's largest concentrations are retail trade loans: convenience stores, restaurants, food stores, and liquor stores, which totaled approximate ly $111 million, or 306%, of capital; commercial real estate loans which totaled approximately $84 million, or 232%, of capital; and loans to service providers: financial, health, hotel and dry cleaners, which totaled approximately $44 million, or 122%, 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 "Allowance and Provision for Loan Losses."

The Company reported record net income of $1,203,000 for the second quarter of 2003, compared to $1,017,000 for the second quarter of 2002, an increase of 18%. The improvement in earnings was due primarily to an increase in loan interest income resulting from higher loan volume, as well as a decrease in the cost of funds. Interest expense on deposits has declined as higher rate time deposits have renewed at lower rates compared to last year. Net earnings per share for the second quarter of 2003 were $.32 (basic and diluted) compared to $.27 (basic and diluted) for second quarter 2002, adjusted for the November 2002 stock split. The net interest margin has improved slightly to 4.1% from 4.0% at year-end 2002. Interest income increased $195,000, while interest expense declined $232,000, comparing the second quarters of 2003 and 2002. While loan yields remained historically low due to current market conditions, Management entered into an additional interest rate swap agreement in March of this year to hedge against further rate declines, essentially fixing a primarily floating rate loan portfolio with a fixed spread to prime rate. Noninterest income was $209,000 lower for the quarter compared to the same period last year. Second quarter 2002 earnings included $218,000 in gains on sales of investment securities, while gains for investment security sales in the current period were only $3,000. Noninterest expenses were only 3% higher this quarter compared to second quarter 2002, largely due to increased personnel costs.

For the six-month periods ended June 30, 2003 and 2002, the Company reported net earnings of $2,233,000 and $1,866,000, respectively, an increase of 20%. This improvement was also attributable to stronger loan interest income and lower funding costs, which offset lower noninterest income. Interest income increased $460,000, while interest expense declined $477,000, comparing the first six months of 2003 to the same period in 2002. Net earnings per share (diluted) for the comparable six-month periods were $.59 and $.49 at June 30, 2003 and 2002, respectively.

The annualized return on average stockholders' equity for the 2003 six-month period was 14.2% versus 13.8% for the 2002 six-month period, and the return on average assets was 1.08% in the 2003 period compared to 1.04% in the 2002 period. Book value per share was $8.76 at June 30, 2003 compared to $8.27 at December 31, 2002 and $7.54 at June 30, 2002. In the second 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 $421 million at June 30, 2003, reflecting little change from March 31, 2003, however, approximately $7 million was redeployed from the investment securities portfolio into higher yielding loans in the second quarter. Since year-end 2002, total assets have grown $18 million, or 4.4%, primarily due to loan growth. Total loans have also grown $18 million, or 7%, since December 31, 2002, primarily in commercial loans, funded mainly with new deposit growth. Total loans were $277 million at June 30, 2003, up $36 million, or 15%, from total loans at June 30, 2002. The investment portfolio decreased to $105 million in the second quarter 2003 from $113 million at March 31, 2003 as funds received from principal collections and US agency security calls were used for loan growth. The investment portfolio was also $113 million at December 31, 2002.

The loan to deposit ratio at June 30, 2003 decreased to 78% from the December 31, 2002 ratio of 80%, as deposit growth exceeded loan growth in the first six months of the year. Total deposits grew $15 million, or 4%, during the second quarter to $350 million, largely composed of time deposit volume. Deposit growth also represented a 10% increase since December 31, 2002. Noninterest-bearing demand deposits grew 3% during the quarter, maintaining a ratio of 23% of total deposits at the end of the quarter. Total time deposits at June 30, 2003 were $185 million compared to $167 million at December 31, 2002. Time deposits have grown $16 million, or 9% since June 30, 2002.

Net interest income increased 12%, or $427,000, in second quarter 2003, compared to second quarter 2002. As mentioned previously, the increase was primarily due to both growth in the loan portfolio and a reduction in funding costs. Interest expense on time deposits decreased $152,000 comparing second quarter 2003 to second quarter 2002, despite the volume increase, due to the continued decline in interest rates and time deposit renewals at lower interest rates over the past year. This has been a strong factor in the lower cost of funds. For the six-month period ended June 30, 2003, net interest income increased $937,000 over the comparable 2002 period for the same reasons given for the quarterly increase, improvement in loan interest income and lower funding costs.

Quarterly noninterest income was lower this year by $209,000 principally because last year's second quarter income included $218,000 in gains on sales of investment securities. For the year to date, noninterest income was down compared to the same period last year also due to the 2002 recording of $296,000 in unrealized gains on appreciation of the value of an interest rate swap. The total decline in noninterest income was $470,000 for the year compared to last year through June. International fee income increased $24,000 to $300,000, or 9%, this quarter compared to the same period last year, and $75,000 to $597,000, or 14%, this year to date compared to last year through June, due to an increase in new and existing customer export business. Other noninterest income components were relatively flat compared to second quarter and the first six months of last year.

Comparing the current quarter and six-month period to the same quarter and six-month period in 2002, the only noninterest expense line item that changed notably was an increase in salaries and employee benefits which were up 6.3% for the quarter and 5.5% for the year to date as a result of additional positions and merit increases. There were 115 full-time equivalent employees at June 30, 2003, an increase of seven in the past year. Equipment and occupancy costs were flat this quarter compared to second quarter last year and up only 6.3% and 7.4%, respectively, for the comparable six-month periods. Increases for the year were due to additional equipment purchases to improve workstation technology and customer service efficiency, as well as normal rent escalations. Other noninterest expenses were 2% lower this quarter than second quarter last year, primarily due to lower loan-related legal fees and other losses. Stronger loan quality has resulted in less need for external collection efforts compared to previous years. Lower legal fees and other losses were also the reasons for lower other operating expenses for the year to date 2003 compared to the prior year. For the first six months of this year, the Company's efficiency ratio improved to 62% from 64% for the same period last year, primarily due to higher interest income this year.

Non-performing assets were $1,424,000 at June 30, 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 June 30, 2003 amount included two commercial loans secured by business assets totaling $436,000 and three SBA loans fully guaranteed by the SBA totaling $391,000, as well as a $597,000 commercial loan secured by real estate that was foreclosed upon subsequent to March 31, 2003 and classified as other real estate owned. This OREO property was recorded originally at $697,000 and, based on a contractual price less selling costs, at June 30, 2003, was written down $100,000. The contract was subsequently canceled, and the property remains on the market. Non-performing assets represented .51% of total loans and other real estate owned as of June 30, 2003 compared to .39% at December 31, 2002. There were no loans past du e 90 days or more as to principal or interest payments and still accruing at June 30, 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.

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 June 30, 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 June 30, 2003 from $3.4 million at year-end 2002, an increase of 6%. The increase was due to the growth in the loan portfolio during 2003 and relatively low net charge-offs this year. Combined criticized and classified assets at June 30, 2003 declined to $2.7 million from $4.4 million at December 31, 2002, a decline of 38%, indicating an improvement in quality despite the continued growth of the portfolio. Gross charged off loans for the year to date through June 2003 totaled $173,000, while recoveries for the period totaled $50,000, for an annualized net charge-off rate of .09% of average total loans. The net charge-off rate for the first six months of 2002 was .44%. The provision for loan losses was $108,000 in second quarter of 2003 compared to $212,000 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 June 30, 2003, despite a temp orary increase in non-performing assets.

The allowance for loan losses represented 1.31% and 1.33% of total loans outstanding at June 30, 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.

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 six months ending June 30, 2003 and 2002.

Based on an analysis performed by management at June 30, 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 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 June 30, 2003, the fair value of this interest rate swap was a gain of $876,000. This swap matures on October 31, 2004.

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 June 30, 2003, the fair value of this interest rate swap was a gain of $190,000. This swap matures on March 14, 2007.

Liquidity has been stable during the second quarter of 2003 as solid deposit growth has provided adequate funding for loan expansion. At June 30, 2003, the Company's net loan to deposit ratio was 78%, down slightly from the 80% ratio at December 31, 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 $1.4 million during second quarter 2003, to $32.3 million as a result of total net income net of dividends paid to shareholders, as well as a $730,000 increase in accumulated other comprehensive income.

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 6.7% at June 30, 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 June 30, 2003, the Bank had a risk-weighted total capital ratio of 11.2% and a Tier 1 risk-weighted capital ratio of 9.9%, 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 June 30, 2003 was approximately $31 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 cus tomers fully drawing on all these lines at the same time is remote.

The following table is a summary of the Company's commitments to extend credit and 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 June 30, 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.

As of the end of the period covered by 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-15. 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 ev aluation, and there have been no corrective actions with respect to significant deficiencies or material weaknesses.

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.

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

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

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 June 30, 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 13^th day of August, 2003.