AP NEWS

Summit Financial: 4Q Earnings Snapshot

January 24, 2020 GMT

MOOREFIELD, W.Va. (AP) _ Summit Financial Group Inc. (SMMF) on Friday reported fourth-quarter profit of $8.1 million.

The Moorefield, West Virginia-based bank said it had earnings of 65 cents per share.

The financial holding company posted revenue of $31.5 million in the period. Its revenue net of interest expense was $24.2 million, which topped Street forecasts.

For the year, the company reported profit of $31.9 million, or $2.53 per share. Revenue was reported as $96.3 million.

Summit Financial shares have decreased almost 9% since the beginning of the year. The stock has increased 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMMF at https://www.zacks.com/ap/SMMF