Summit Financial Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 01:25 pm EDT
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Summit Financial Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 41.27 million compared to USD 34.11 million a year ago. Net income was USD 16.33 million compared to USD 14.42 million a year ago. Basic earnings per share from continuing operations was USD 1.1 compared to USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 1.09 compared to USD 1.11 a year ago.
For the nine months, net interest income was USD 115.78 million compared to USD 94.63 million a year ago. Net income was USD 38.64 million compared to USD 38.13 million a year ago. Basic earnings per share from continuing operations was USD 2.7 compared to USD 2.94 a year ago. Diluted earnings per share from continuing operations was USD 2.69 compared to USD 2.92 a year ago.
Summit Financial Group, Inc. is the financial holding company for Summit Community Bank, Inc (the Bank). The Company provides a range of banking and other financial services to individuals and businesses. It has a trust and wealth management division offering trust services and other non-bank financial products within its community bank's market area. It provides a range of community banking services, including demand, savings and time deposits; commercial, real estate and consumer loans; trust and wealth management services, and cash management services. Under its commercial banking, it is focused on offering a broad line of financial products and services to small and medium-sized businesses through full service banking offices. Its bankers serve commercial and individual clients throughout West Virginia, the Washington, D.C. metropolitan area, Virginia, Kentucky, Eastern Shore of Maryland and Delaware. The Bank operates approximately 54 banking offices.
SUMMIT FINANCIAL GROUP, INC. 
