Summit Financial Group, Inc. (SMMF) Financial Statements (2023 and Earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments78100626053479
Cash and cash equivalents78100626053479
Disposal group, including discontinued operation      1
Total current assets:781006260534710
Noncurrent Assets
Operating lease, right-of-use asset66 
Property, plant and equipment56534438342422
Intangible assets, net (including goodwill), including:6455232628147
Goodwill5545131515116
Intangible assets, net (excluding goodwill)81010111234
Other undisclosed intangible assets, net (including goodwill)  0   (2)
Total noncurrent assets:1261136763623729
Other undisclosed assets3,3722,8932,2742,0782,0201,6751,453
TOTAL ASSETS:3,5773,1062,4032,2012,1341,7591,492
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt140140199309250224171
Total current liabilities:140140199309250224171
Noncurrent Liabilities
Long-term debt and lease obligation     13
Long-term debt, excluding current maturities     13
Total noncurrent liabilities:     13
Other undisclosed liabilities3,1092,6851,9561,6721,6821,3781,175
Total liabilities:3,2492,8252,1561,9811,9331,6031,349
Stockholders' equity
Stockholders' equity attributable to parent, including:327282248220202155144
Preferred stock15      
Common stock90958080814746
Accumulated other comprehensive income (loss)553(1)2(3)(0)
Retained earnings218182166141120113100
Unearned esop shares(0)(0)(1)(1)(1)(2)2
Other undisclosed stockholders' equity attributable to parent      (4)
Total stockholders' equity:327282248220202155144
TOTAL LIABILITIES AND EQUITY:3,5773,1062,4032,2012,1341,7591,492

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues12211510899876560
Net investment income12211410695755752
Cost of revenue(1)(13)(2)(2)(1)(1)(1)
Provision for loan, lease, and other losses(1)(13)(2)(2)
Financial services costs(1)(1)(1)
Gross profit:12210210797866559
Operating expenses(10)(9)(6)(8)(34)(25)(24)
Other operating income, net
(Noninterest Income, Other Operating Income)
1011111
Operating income:1129310290534036
Nonoperating income1211122
Investment income, nonoperating    (0)11
Bank owned life insurance income1211111
Interest and debt expense(12)(20)(30)(26)(18)(15)(13)
Other undisclosed loss from continuing operations before equity method investments, income taxes (36)(33)(30)(14)(2)(2)
Income from continuing operations before equity method investments, income taxes:101394035222523
Other undisclosed loss from continuing operations before income taxes(44)      
Income from continuing operations before income taxes:57394035222523
Income tax expense(12)(7)(8)(7)(10)(8)(7)
Net income attributable to parent:46313228121716
Preferred stock dividends and other adjustments(1)      
Net income available to common stockholders, diluted:45313228121716

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:46313228121716
Other comprehensive income (loss)034(3)5(3)(3)
Comprehensive income, net of tax, attributable to parent:46343525171414

Statements Sources

The financial statements are based on the Company's filings with 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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