Summit Financial: 4Q Earnings Snapshot
MOOREFIELD, W.Va. (AP) _ Summit Financial Group Inc. (SMMF) on Tuesday reported fourth-quarter net income of $7.5 million.
The Moorefield, West Virginia-based bank said it had earnings of 60 cents per share.
The financial holding company posted revenue of $29.5 million in the period. Its revenue net of interest expense was $22.2 million, topping Street forecasts.
For the year, the company reported profit of $28.1 million, or $2.26 per share. Revenue was reported as $87.2 million.
Summit Financial shares have increased 14 percent since the beginning of the year. The stock has dropped 15 percent in the last 12 months.