MOOREFIELD

Summit Financial Group, Inc. Announces Q1 2024 Common Dividend of $0.22 Per Share

Retrieved on: 
Friday, February 23, 2024

MOOREFIELD, W.Va., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a first quarter 2024 dividend of $0.22 per share payable on March 29, 2024 to common shareholders of record as of the close of business on March 15, 2024.

Key Points: 
  • MOOREFIELD, W.Va., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a first quarter 2024 dividend of $0.22 per share payable on March 29, 2024 to common shareholders of record as of the close of business on March 15, 2024.
  • Summit Financial Group, Inc. is the $4.6 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware.
  • Residential and consumer lending, trust and wealth management, and other retail financial services are offered through convenient digital and mobile banking platforms, including MySummitBank.com and 54 full-service branch locations.
  • More information on Summit Financial Group, Inc. (NASDAQ: SMMF), headquartered in West Virginia’s Eastern Panhandle in Moorefield, is available at SummitFGI.com .

Summit Financial Group Reports Earnings of $1.11 Per Share for Fourth Quarter 2023

Retrieved on: 
Thursday, January 25, 2024

The Company’s provision for credit losses totaled $1.50 million in the fourth quarter of 2023 compared to $1.25 million in the linked quarter.

Key Points: 
  • The Company’s provision for credit losses totaled $1.50 million in the fourth quarter of 2023 compared to $1.25 million in the linked quarter.
  • Net interest income totaled $40.8 million in the fourth quarter of 2023, marking an increase of 18.7 percent from the prior-year fourth quarter and down 1.2 percent from the linked quarter.
  • Summit recorded a $1.50 million provision for credit losses in the fourth quarter of 2023 compared to $1.25 million for the linked quarter and $1.50 million in the fourth quarter of 2022.
  • The Company recognized net gains on equity investments of $365,000 in the fourth quarter 2023 compared to $180,000 in the linked quarter.

Summit Financial Group, Inc. Announces Q4 Common Dividend of $0.22 Per Share

Retrieved on: 
Tuesday, November 28, 2023

MOOREFIELD, W.Va., Nov. 28, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a fourth quarter 2023 dividend of $0.22 per share payable on December 29, 2023 to common shareholders of record as of the close of business on December 15, 2023.

Key Points: 
  • MOOREFIELD, W.Va., Nov. 28, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a fourth quarter 2023 dividend of $0.22 per share payable on December 29, 2023 to common shareholders of record as of the close of business on December 15, 2023.
  • Summit Financial Group, Inc. is the $4.6 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware.
  • Residential and consumer lending, trust and wealth management, and other retail financial services are offered through convenient digital and mobile banking platforms, including MySummitBank.com and 54 full-service branch locations.
  • More information on Summit Financial Group, Inc. (NASDAQ: SMMF), headquartered in West Virginia’s Eastern Panhandle in Moorefield, is available at SummitFGI.com .

Summit Financial Group Reports Earnings of $1.09 Per Share for Third Quarter 2023

Retrieved on: 
Thursday, October 26, 2023

MOOREFIELD, W.Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company” or “Summit”) (NASDAQ: SMMF) today reported financial results for the third quarter of 2023, highlighting robust core operating performance marked by continued notable strength in its net interest margin.

Key Points: 
  • MOOREFIELD, W.Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company” or “Summit”) (NASDAQ: SMMF) today reported financial results for the third quarter of 2023, highlighting robust core operating performance marked by continued notable strength in its net interest margin.
  • The Company’s provision for credit losses totaled $1.25 million in the third quarter of 2023 compared to $8.00 million in the linked quarter.
  • In addition, the Company recognized net gains on equity investments of $180,000 in the third quarter 2023 compared to $150,000 in the linked quarter.
  • Summit paid a quarterly common dividend of $0.22 per share in the third quarter of 2023.

Summit Financial Group, Inc. Increases Quarterly Common Dividend 10 Percent to $0.22 Per Share

Retrieved on: 
Friday, August 25, 2023

Summit Financial Group, Inc. is the $4.6 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware.

Key Points: 
  • Summit Financial Group, Inc. is the $4.6 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware.
  • Summit’s focus on in-market commercial lending and providing other business banking services in dynamic markets is designed to leverage its highly efficient operations and core deposits in strong legacy locations.
  • Residential and consumer lending, trust and wealth management, and other retail financial services are offered through convenient digital and mobile banking platforms, including MySummitBank.com and 54 full-service branch locations.
  • More information on Summit Financial Group, Inc. (NASDAQ: SMMF), headquartered in West Virginia’s Eastern Panhandle in Moorefield, is available at SummitFGI.com .

Summit Financial Group Reports Strong Revenue Growth, Improved Net Interest Margin, Strategic Balance Sheet Expansion, and Earnings of $0.54 Per Share for Second Quarter 2023

Retrieved on: 
Thursday, July 27, 2023

"We are pleased to report strong core performance in second quarter of 2023, characterized by significant revenue growth, an improved net interest margin and strategic balance sheet expansion," noted H. Charles Maddy III, President, and Chief Executive Officer of Summit Financial Group.

Key Points: 
  • "We are pleased to report strong core performance in second quarter of 2023, characterized by significant revenue growth, an improved net interest margin and strategic balance sheet expansion," noted H. Charles Maddy III, President, and Chief Executive Officer of Summit Financial Group.
  • Net interest margin (“NIM”) increased 6 basis points to 3.89 percent from the linked quarter and by 23 basis points from the prior-year quarter.
  • The Company’s provision for credit losses totaled $8.00 million in the second quarter of 2023 compared to $1.5 million in the linked quarter.
  • Net interest income totaled $40.3 million in the second quarter of 2023, marking an increase of 30.2 percent from the prior-year second quarter and 17.9 percent from the linked quarter.

Summit Financial Group, Inc. Announces Q2 Common Dividend of $0.20 Per Share

Retrieved on: 
Thursday, May 25, 2023

MOOREFIELD, W.Va., May 25, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a second quarter 2023 dividend of $0.20 per share payable on June 30, 2023 to common shareholders of record as of the close of business on June 15, 2023.

Key Points: 
  • MOOREFIELD, W.Va., May 25, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces its Board of Directors recently declared a second quarter 2023 dividend of $0.20 per share payable on June 30, 2023 to common shareholders of record as of the close of business on June 15, 2023.
  • Summit Financial Group, Inc. is the $4.5 billion financial holding company for Summit Community Bank, Inc. Its talented bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware.
  • Residential and consumer lending, trust and wealth management, and other retail financial services are offered through convenient digital and mobile banking platforms, including MySummitBank.com and 53 full-service branch locations.
  • More information on Summit Financial Group, Inc. (NASDAQ: SMMF), headquartered in West Virginia’s Eastern Panhandle in Moorefield, is available at SummitFGI.com .

Summit to Participate in the D.A. Davidson 25th Annual Financial Institutions Conference

Retrieved on: 
Friday, May 12, 2023

MOOREFIELD, W.V., May 12, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company”) (NASDAQ: SMMF) today announced that H. Charles Maddy, III, President and Chief Executive Officer and Robert S. Tissue, Executive Vice President and Chief Financial Officer are scheduled to participate in the D.A.

Key Points: 
  • MOOREFIELD, W.V., May 12, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company”) (NASDAQ: SMMF) today announced that H. Charles Maddy, III, President and Chief Executive Officer and Robert S. Tissue, Executive Vice President and Chief Financial Officer are scheduled to participate in the D.A.
  • Davidson 25th Annual Financial Institutions Conference in Colorado Springs, CO May 15-17, 2023.

Summit Financial Group Reports First Quarter 2023 Earnings of $1.08 Per Share, Fueled by Continued Loan and Deposit Growth, and Improved Net Interest Margin

Retrieved on: 
Thursday, April 27, 2023

"We had a strong start to the year with impressive loan and deposit growth in the first quarter of 2023, increased tangible book value per common share, and improved net interest margin.

Key Points: 
  • "We had a strong start to the year with impressive loan and deposit growth in the first quarter of 2023, increased tangible book value per common share, and improved net interest margin.
  • NIM for the first quarter 2023 was 3.83 percent compared to 3.80 percent for the linked quarter and 3.61 percent for the prior-year quarter.
  • In addition, the Company recognized net gains on equity investments of $45,000 in the first quarter 2023 compared to $280,000 in the linked quarter.
  • The Company recorded net loan recoveries of $63,000 during first quarter 2023 compared to net loan charge-offs (“NCOs”) of $1,000 in the fourth quarter of 2022.

Taylor Hospitality Expands West Virginia Presence with South Branch Inn Hotels

Retrieved on: 
Thursday, April 20, 2023

Starting April 17, 2023, Taylor Hospitality will take over professional management of the two South Branch Inn hotels located in Moorefield and Romney.

Key Points: 
  • Starting April 17, 2023, Taylor Hospitality will take over professional management of the two South Branch Inn hotels located in Moorefield and Romney.
  • “The South Branch Inn Hotels are embarking on major renovations and we are thrilled that the ownership group reached out to us to help with the renovations and overall operations.
  • The two hotels are an integral part of the Moorfield and Romney communities and we are honored to be welcomed into another West Virginia community.” said Sean Taylor, CEO of Taylor Hospitality.
  • The South Branch Inn Hotels will be going under an extensive multimillion-dollar interior renovation to embrace the West Virginia Scottish Highlands Heritage.