| Business Summary | | Summit
Financial
Corporation
is
the
holding
company
of
Summit
National
Bank,
a
national
bank;
Freedom
Finance,
Inc.,
a
consumer
finance
company;
and
Summit
Investment
Services,
Inc.,
an
investment
and
financial
planning
company.
The
Company
conducts
business
through
four
banking
offices
and
11
consumer
finance
offices
throughout
South
Carolina.
Summit
National
Bank
provides
a
full
range
of
deposit
services
including
checking
accounts,
NOW
accounts,
individual
retirement
accounts,
savings
and
other
time
deposits
of
various
types
ranging
from
daily
money
market
accounts
to
longer-term
certificates
of
deposit.
Summit
Investment
Services
provides
a
full
range
of
nondeposit
investment
products
including
annuities
and
mutual
funds,
full
and
discount
brokerage
services,
and
financial
management
services.
Freedom
Finance
makes
and
services
installment
loans
to
individuals
with
loan
principal
amounts
generally
not
exceeding
$2,000
and
with
maturities
ranging
from
three
to
18
months. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SUMM,
a
bank
holding
company
for
Summit
National
Bank
and
Freedom
Finance,
operates
from
two
banking
and
twelve
consumer
finance
offices
in
SC.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
19%
to
$10.5
million.
Net
interest
income
after
loan
loss
prov.
rose
4%
to
$4.8
million.
Net
income
rose
1%
to
$1.3
million.
Results
reflect
a
higher
level
of
average
loans,
partially
offset
by
higher
interest
on
deposits
and
higher
salaries
and
benefits
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| C. Vincent Brown, 61 Chaieman
of the Board | -- | -- | J. Randolph Potter, 54 Pres,
CEO | $391K | $488K | John Kuhne, 56 Vice
Chairman | -- | -- | Blaise Bettendorf, 38 CFO,
Sr. VP, Assistant Sec., Treasurer | 198K | 244K | James Bagnal, III, 56 Regional
Pres of Summit National Bank, Director | 100K | -- | 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.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|