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Last $11.46 USD
Change Today +0.25 / 2.23%
Volume 3.2K
SMMF On Other Exchanges
As of 10:37 AM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

summit financial group inc (SMMF) Snapshot

Previous Close
Day High
Day Low
52 Week High
04/27/15 - $13.09
52 Week Low
08/6/14 - $9.17
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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summit financial group inc (SMMF) Details

Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank that provides community banking and other financial services to individuals and businesses primarily in the Eastern Panhandle and South Central regions of West Virginia, and the Northern region of Virginia. Its community banking services include demand, savings, and time deposits; commercial, commercial real estate, construction and development, residential real estate, and consumer loans; letters of credit; and cash management services. The company also operates as an insurance agency that provides commercial and personal lines of insurance products comprising group health, life, and disability benefit plans. As of April 30, 2014, it operated 15 banking offices. Summit Financial Group, Inc. was founded in 1987 and is headquartered in Moorefield, West Virginia.

222 Employees
Last Reported Date: 03/2/15
Founded in 1987

summit financial group inc (SMMF) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Presi...
Total Annual Compensation: $437.5K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $227.5K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $227.5K
Compensation as of Fiscal Year 2014.

summit financial group inc (SMMF) Key Developments

Summit Financial Group, Inc. Declares Second Quarter of 2015 Dividend Payable on June 30, 2015

Summit Financial Group Inc. announced that its Board of Directors recently declared second quarter of 2015 dividend of $0.08 per share payable on June 30, 2015 to common shareholders of record as of the close of business on June 15, 2015.

Summit Financial Group Appoints Jim Deason as Vice President of Sales of Property and Casualty of Summit First Insurance

Summit Financial Group has named Jim Deason as vice president of sales of property and casualty of Summit First Insurance. Deason has 30 years of property and casualty experience.

Summit Financial Group Inc. Reports Earnings Results for the First Quarter Ended March 31, 2015; Records Net Loan Charge Offs

Summit Financial Group Inc. reported earnings results for the first quarter ended March 31, 2015. Total revenue for first quarter 2015, consisting of net interest income and noninterest income, grew 14.3% to $14.7 million compared to $12.8 million for the first quarter 2014. Total core revenue (excluding nonrecurring items) was $14.2 million for first quarter 2015 compared to $12.8 million for the same prior year quarter, an increase of 10.4%. For the first quarter of 2015, net interest income was $11.5 million, an increase of 14.8% from the $10.0 million reported in the prior-year first quarter and increased $569,000 compared to the linked quarter. The company reported first quarter 2015 net income applicable to common shares of $4.29 million, or $0.41 per diluted share, compared to $2.20 million, or $0.25 per diluted share, for the first quarter of 2014, representing an increase of 95.1%, or 64.0% per diluted share. First quarter 2015 earnings compared to first quarter of 2014 were positively impacted by a $1.48 million increase in net interest income and a $750,000 decline in provision for loan losses. Book value per common share increased to $12.84 at March 31, 2015 compared to $12.60 at December 31, 2014. Income before income taxes was $6,205,000 against $3,323,000 a year ago. Return on average equity was $12.79% against 8.46% a year ago. Return on average assets was 1.18% against 0.69% a year ago. First quarter 2015 net loan charge offs were $590,000, or 0.23% of average loans on an annualized basis.


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Industry Analysis


Industry Average

Valuation SMMF Industry Range
Price/Earnings 8.8x
Price/Sales 1.8x
Price/Book 0.9x
Price/Cash Flow 9.0x
TEV/Sales NM Not Meaningful

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