Summit Financial Group, Inc. (SMMF) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10062605347913
Cash and cash equivalents10062605347913
Disposal group, including discontinued operation     11
Total current assets:100626053471013
Noncurrent Assets
Operating lease, right-of-use asset6 
Property, plant and equipment53443834242220
Intangible assets, net (including goodwill), including:552326281478
Goodwill451315151166
Intangible assets, net (excluding goodwill)10101112344
Other undisclosed intangible assets, net (including goodwill) 0   (2)(2)
Total noncurrent assets:113676362372928
Other undisclosed assets2,8932,2742,0782,0201,6751,4531,403
TOTAL ASSETS:3,1062,4032,2012,1341,7591,4921,444
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt140199309250224171124
Total current liabilities:140199309250224171124
Noncurrent Liabilities
Long-term debt and lease obligation    135
Long-term debt, excluding current maturities    135
Total noncurrent liabilities:    135
Other undisclosed liabilities2,6851,9561,6721,6821,3781,1751,184
Total liabilities:2,8252,1561,9811,9331,6031,3491,312
Stockholders' equity
Stockholders' equity attributable to parent, including:282248220202155144132
Common stock95808081474633
Accumulated other comprehensive income (loss)53(1)2(3)(0)2
Retained earnings18216614112011310088
Unearned esop shares(0)(1)(1)(1)(2)2 
Other undisclosed stockholders' equity attributable to parent     (4)9
Total stockholders' equity:282248220202155144132
TOTAL LIABILITIES AND EQUITY:3,1062,4032,2012,1341,7591,4921,444

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1151089987656058
Net investment income1141069575575250
Cost of revenue(13)(2)(2)(1)(1)(1)(2)
Provision for loan, lease, and other losses(13)(2)(2)
Financial services costs(1)(1)(1)(2)
Gross profit:1021079786655956
Operating expenses(9)(6)(8)(34)(25)(24)(24)
Other operating income, net
(Noninterest Income, Other Operating Income)
0111111
Operating income:931029053403633
Nonoperating income2111221
Investment income, nonoperating   (0)110
Bank owned life insurance income2111111
Interest and debt expense(20)(30)(26)(18)(15)(13)(15)
Other undisclosed loss from continuing operations before equity method investments, income taxes(36)(33)(30)(14)(2)(2)(3)
Income from continuing operations before income taxes:39403522252316
Income tax expense(7)(8)(7)(10)(8)(7)(5)
Net income attributable to parent:31322812171611
Preferred stock dividends and other adjustments      (1)
Net income available to common stockholders, basic:31322812171611
Other undisclosed net income available to common stockholders, diluted      1
Net income available to common stockholders, diluted:31322812171611

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:31322812171611
Other comprehensive income (loss)34(3)5(3)(3)2
Comprehensive income, net of tax, attributable to parent:34352517141413

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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