Summit Financial Group, Inc. (SMMF) financial statements (2020 and earlier)

Company profile

Business Address 300 NORTH MAIN ST
MOOREFIELD, WV 26836
State of Incorp. WV
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6260534791312
Cash and cash equivalents6260534791312
Disposal group, including discontinued operation    11 
Total current assets:62605347101312
Noncurrent Assets
Property, plant and equipment44383424222021
Intangible assets, net (including goodwill), including:23262814788
Goodwill13151511666
Intangible assets, net (excluding goodwill)1011123444
Other undisclosed intangible assets, net (including goodwill)0   (2)(2)(2)
Total noncurrent assets:67636237292829
Other undisclosed assets2,2742,0782,0201,6751,4531,4031,346
TOTAL ASSETS:2,4032,2012,1341,7591,4921,4441,386
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt19930925022417112463
Total current liabilities:19930925022417112463
Noncurrent Liabilities
Long-term debt and lease obligation   1359
Long-term debt, excluding current maturities   1359
Total noncurrent liabilities:   1359
Other undisclosed liabilities1,9561,6721,6821,3781,1751,1841,203
Total liabilities:2,1561,9811,9331,6031,3491,3121,275
Stockholders' equity
Stockholders' equity attributable to parent, including:248220202155144132111
Preferred stock      9
Common stock80808147463325
Accumulated other comprehensive income (loss)3(1)2(3)(0)2(0)
Retained earnings1661411201131008877
Unearned esop shares(1)(1)(1)(2)2  
Other undisclosed stockholders' equity attributable to parent    (4)9 
Total stockholders' equity:248220202155144132111
TOTAL LIABILITIES AND EQUITY:2,4032,2012,1341,7591,4921,4441,386

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1089987656058 
Net investment income1069575575250 
Cost of revenue(2)(2)(1)(1)(1)(2)(5)
Provision for loan, lease, and other losses(2)(2)
Financial services costs(1)(1)(1)(2)(5)
Gross profit:1079786655956(5)
Operating expenses(6)(8)(34)(25)(24)(24)(20)
Other operating income, net
(Noninterest Income, Other Operating Income)
1111111
Operating income (loss):1029053403633(23)
Nonoperating income1112211
Investment income, nonoperating  (0)1100
Bank owned life insurance income1111111
Interest and debt expense(30)(26)(18)(15)(13)(15)(18)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(33)(30)(14)(2)(2)(3)51
Income from continuing operations before income taxes:40352225231611
Income tax expense(8)(7)(10)(8)(7)(5)(3)
Net income attributable to parent:3228121716118
Preferred stock dividends and other adjustments     (1)(1)
Net income available to common stockholders, basic:3228121716117
Other undisclosed net income available to common stockholders, diluted     11
Net income available to common stockholders, diluted:3228121716118

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:3228121716118
Other comprehensive income (loss)4(3)5(3)(3)2(5)
Comprehensive income, net of tax, attributable to parent:3525171414133

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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