| Business Summary | | Summit
Financial
Group,
Inc.
is
a
financial
holding
company.
Summit's
business
activities
are
conducted
principally
through
its
four
bank
subsidiaries:
South
Branch,
Capital
State,
Shenandoah
and
Potomac
(collectively,
the
Bank
Subsidiaries).
The
Bank
Subsidiaries
account
for
substantially
all
of
the
consolidated
assets,
revenues
and
earnings
of
Summit.
Each
subsidiary
is
a
full-service,
FDIC-insured
institution
engaged
in
commercial
and
retail
banking.
The
Company
offers
a
wide
variety
of
banking
services
to
its
customers.
Summit
accepts
deposits
and
has
night
depositories
and
automated
teller
machines.
The
Company
offers
its
customers
various
deposit
arrangements
with
a
variety
of
maturities
and
yields,
including
non-interest-bearing
and
interest-bearing
demand
deposits,
savings
deposits,
time
certificates
of
deposit,
club
accounts
and
IRAs.
South
Branch,
which
serves
as
a
trustee,
invests
the
trust
assets
and
makes
disbursements
according
to
state
and
Federal
law. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Summit
Financial
Groups
is
a
bank
holding
company.
The
Company
operates
through
four
subsidiaries:
South
Branch
Valley
Bank,
Capital
State,
Shenandoah
Valley
National
Bank
and
Potomac
Valley
Bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
23%
to
$18.5
million.
Net
interest
income
after
loan
loss
prov.
rose
14%
to
$7.7
million.
Net
income
rose
19%
to
$2.2
million.
Results
reflect
greater
interest-earning
assets,
higher
interest
expense
and
security
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Oscar Bean, 50 Chairman | -- | H. Charles Maddy III, 38 Pres,
CEO of the Company & South Branch Valley National Bank | $246K | George Ours Vice
Chairman | -- | Robert Tissue, 37 CFO,
VP | -- | Scott Jennings, 39 VP
of Technology & Loan Admin. | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|