$400K Summit National Bank Settlement Resolves Data Breach Litigation Over May 2024 Incident

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Summit National Bank has agreed to a $400,000 settlement to end a class action lawsuit that alleged the financial institution failed to properly safeguard sensitive consumer information from a targeted cyberattack in May 2024.

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The Summit National Bank class action settlement received preliminary approval from the court on October 20, 2025 and covers approximately 10,912 United States residents who received a notice from Summit about the May 2024 data breach.

The court-approved website for the Summit National Bank settlement can be found at https://www.SNBDataSettlement.com/.

According to the website, Summit National Bank settlement class members who submit a valid, timely claim form have multiple options for reimbursement. Those who submit with their claim form documented proof of out-of-pocket losses stemming from the data breach are eligible to receive a one-time cash payment of up to $5,000. Per the settlement agreement, reimbursable expenses must have been incurred as a result of the May 2024 data breach, and include costs related to identity theft, fraud, attorney’s fees, credit repair services, and fees to freeze credit.

All class members may also submit a claim for a one-time, pro-rated cash payment of approximately $175, with no proof needed. The settlement website notes that the total payout amount each class member may receive may change based on the total number of valid claims filed. Importantly, the site also says that class members who elect to receive both the documented loss payment and pro-rated cash payment will receive a total payment amount that is subject to the $5,000 cap outlined under the documented loss payment.

Summit National Bank settlement class members may elect to receive their cash payout via check or electronic payment, and all checks must be cashed within 180 days after issuance before expiration.

In addition to monetary reimbursement, all Summit National Bank class members are eligible to enroll in three free years of three-bureau credit monitoring services.

To submit a Summit National Bank settlement claim form online, class members can head to this page and enter the unique class member ID, found on their copy of the settlement notice, along with their last name. Consumers who believe they may be a settlement class member but did not receive a notice should contact the settlement administrator to confirm their identity and receive their login ID.

Alternatively, class members may download a PDF of the claim form from the settlement website to print, fill out and return by mail to the address listed online.

All Summit National Bank settlement claim forms must be submitted online or by mail by February 17, 2026.

The court will determine whether to grant final approval to the Summit National Bank data breach settlement at a hearing on April 21, 2026. Compensation will begin to be distributed to class members only after final approval is granted and any appeals are resolved.

The Summit National Bank class action lawsuit claimed that the financial institution, which has branches in Idaho, Montana, and Wyoming, failed to implement proper security measures to protect consumers’ private information, leading to a data breach on or around May 13, 2024. Per court documents, the sensitive consumer information potentially compromised as a result of the data breach included, but is not limited to, names, addresses, Social Security numbers, and financial account numbers.

Did you know that some class action settlements require no proof to submit a claim? Check out the latest class action settlements.