Summit Financial Group (SMMF) Reports Q2 EPS of $0.38
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Summit Financial Group Reports Second Quarter and First Half 2015 Results
July 27, 2015 6:00 AM EDTMOOREFIELD, W. Va., July 27, 2015 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (Company or Summit) (NASDAQ: SMMF) today reported second quarter 2015 net income applicable to common shares of $4.01 million, or $0.38 per diluted share, compared to $2.24 million, or $0.25 per diluted share, for the second quarter of 2014, representing an increase of 79.1 percent, or 52.0 percent per diluted share. Q2 2015 earnings compared to Q2 2014 were positively impacted by an $802,000 decline in write-downs of foreclosed properties, a $500,000 decrease in provision for loan losses, and a $1.14 million increase in net interest income.
Excluding from second quarter 2015 (on a pre-tax basis)... More
