Summit Financial Group (SMMF) Tops Q4 EPS by 7c
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January 24, 2020 6:00 AM EST
MOOREFIELD, W.Va., Jan. 24, 2020 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (Company or Summit) (NASDAQ: SMMF) today reported fourth quarter 2019 net income of $8.15 million, or $0.65 per diluted share. In comparison, earnings for third quarter 2019 were $8.06 million, or $0.65 per diluted share, and for fourth quarter 2018 were $7.45 million, or $0.60 per diluted share. Summit achieved returns on average assets and average tangible equity in fourth quarter 2019 of 1.39 percent and 15.25 percent, respectively, compared to 1.38 percent and 16.41 percent, respectively, in the same period of 2018.
Fourth quarter 2019 earnings compared to the linked quarter were positively impacted by increased net... More
