SUMMIT FINANCIAL GROUP, INC.SMMF
| Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
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Net income | 4 | 6 | 8 | 11 | 16 | 17 | 12 | 28 | 32 | 31 | 46 | 53 |
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Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 4 | 4 |
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Provision for credit losses | 10 | 9 | 5 | 2 | 1 | 1 | 1 | 2 | 2 | 15 | 4 | 7 |
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us-gaap_ShareBasedCompensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
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Deferred income tax expense (benefit) | -3 | -1 | 2 | 1 | 0 | -0 | 4 | -0 | 0 | -4 | 0 | 0 |
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Loans originated for sale | 9 | 8 | 9 | 3 | 5 | 11 | 16 | 16 | 23 | 98 | 107 | 19 |
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Proceeds from sale of loans | 10 | 8 | 9 | 2 | 5 | 11 | 17 | 16 | 22 | 99 | 111 | 20 |
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Gains on loans held for sale | - | - | - | - | - | - | 0 | 0 | 0 | 2 | 2 | 0 |
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Realized losses (gains) on debt securities, net | - | - | - | - | - | - | - | - | - | - | 0 | -1 |
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Gains on equity investments | - | - | - | - | - | - | - | - | - | - | 0 | 0 |
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(Gain) loss on disposal of assets | - | - | - | - | - | - | - | - | - | -0 | 0 | 0 |
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Write-downs of foreclosed properties | 7 | 7 | 4 | 4 | 2 | 1 | 1 | 1 | 2 | 2 | 1 | 0 |
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Amortization of securities premiums, net | -2 | -5 | -6 | -5 | -5 | -4 | -4 | -3 | -2 | -3 | -4 | -5 |
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Accretion related to acquisition adjustments, net | - | - | - | - | - | - | - | - | - | - | - | 1 |
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Amortization of intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 1 |
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Earnings on bank owned life insurance and annuities | -1 | - | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
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(Increase) decrease in accrued interest receivable | -0 | -0 | 0 | 0 | -0 | 0 | 1 | 0 | -1 | 2 | -2 | 5 |
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Decrease in other assets | 2 | 2 | -2 | 0 | 1 | 1 | -1 | 0 | -0 | -0 | -0 | -0 |
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Increase in other liabilities | 1 | -1 | 1 | 2 | 1 | 3 | 1 | 3 | 4 | 2 | 0 | 3 |
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Net cash provided by operating activities | 18 | 22 | 28 | 26 | 24 | 23 | 24 | 39 | 41 | 45 | 62 | 68 |
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Proceeds from maturities and calls of debt securities available for sale | - | - | 3 | 4 | 2 | 3 | 3 | 1 | 2 | 4 | 8 | 2 |
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Proceeds from maturities and calls of debt securities held to maturity | - | - | - | - | - | - | - | - | - | 1 | - | - |
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Proceeds from sales of debt securities available for sale | - | - | - | - | - | - | - | 108 | 142 | 125 | 65 | 69 |
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Principal payments received on debt securities available for sale | 58 | 66 | 62 | 34 | 39 | 36 | 32 | 25 | 23 | 25 | 30 | 38 |
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Purchases of debt securities available for sale | - | - | - | - | - | - | - | 106 | 90 | 65 | 226 | 169 |
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Purchases of debt securities held to maturity | - | - | - | - | - | - | - | - | - | 102 | - | - |
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Purchase of equity investments | - | - | - | - | - | - | - | - | - | - | 20 | 9 |
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Purchases of other investments | 2 | - | - | - | - | - | - | - | - | - | 1 | 25 |
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Proceeds from redemptions of other investments | -4 | -5 | -7 | -6 | -7 | -14 | -16 | -12 | -21 | -16 | -3 | -18 |
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Net loan originations | -7 | -12 | 16 | 88 | 63 | 171 | 61 | 92 | 182 | 302 | 297 | 323 |
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Purchases of premises and equipment | 0 | 0 | 1 | 1 | 3 | 2 | 6 | 6 | 9 | 9 | 5 | 1 |
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Proceeds from disposal of premises and equipment | - | - | 0 | 0 | - | 0 | - | 0 | 1 | 0 | 1 | 0 |
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Improvements to property held for sale | - | - | - | - | - | - | - | - | - | - | - | 0 |
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Proceeds from sale of repossessed assets and property held for sale | 13 | 9 | 11 | 15 | 13 | 5 | 6 | 2 | 5 | 4 | 5 | 5 |
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Cash and cash equivalents from acquisitions, net of cash consideration paid - 2021 - $9,807; 2020 - $48,920 | - | - | - | - | - | 31 | 39 | - | 21 | 175 | 96 | - |
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Purchases of life insurance contracts and annuities | 15 | - | 5 | - | - | - | - | - | 0 | 9 | 0 | 10 |
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Net cash used in investing activities | 16 | 29 | -26 | -64 | -59 | -129 | 14 | -72 | -78 | -152 | -342 | -405 |
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Net increase in demand deposit, NOW and savings accounts | 54 | 13 | 4 | 100 | 28 | 78 | 0 | 43 | 205 | 377 | 280 | 399 |
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Net decrease in time deposits | -74 | -3 | -27 | -43 | -23 | 44 | -45 | -9 | -38 | -160 | -95 | -172 |
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Net increase (decrease) in short-term borrowings | 14 | -12 | 59 | 61 | 48 | 53 | 19 | 59 | -110 | -62 | - | 86 |
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Repayment of long-term borrowings | 35 | 67 | 43 | 86 | 2 | 29 | 1 | 45 | 0 | 21 | 0 | 0 |
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Proceeds from subordinated debt | - | - | - | - | - | - | - | - | - | 30 | 75 | - |
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Purchase of interest rate caps | - | - | - | - | - | - | - | - | - | 7 | - | - |
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Proceeds from issuance of common stock, net of issuance costs | - | - | - | 8 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
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Proceeds from issuance of preferred stock, net of issuance costs | - | - | - | - | - | - | - | - | - | - | 15 | - |
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Purchase and retirement of common stock | - | - | - | - | 1 | - | - | 2 | 10 | 1 | 7 | - |
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Exercise of stock options | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | - |
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Dividends paid on common stock | - | - | - | - | 3 | 4 | 5 | 7 | 7 | 9 | 9 | 10 |
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Dividends paid on preferred stock | 0 | 1 | 1 | 1 | 0 | - | - | - | - | - | 1 | 1 |
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Net cash provided by financing activities | -34 | -69 | -5 | 39 | 32 | 142 | -32 | 40 | 39 | 146 | 259 | 303 |
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(Decrease) increase in cash and cash equivalents | - | - | - | - | - | - | - | - | - | 38 | -21 | -34 |
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Interest | - | - | - | - | - | - | - | - | 30 | 20 | 12 | 27 |
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Income taxes | 3 | 3 | 1 | 3 | 7 | 8 | 6 | 8 | 8 | 11 | 10 | 13 |
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Real property and other assets acquired in settlement of loans | 13 | 8 | 12 | 3 | 3 | 2 | 0 | 2 | 5 | 1 | 1 | 0 |
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Right of use assets obtained in exchange for lease obligations | - | - | - | - | - | - | - | - | - | - | - | 0 |
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Assets acquired | - | - | - | - | - | 71 | - | - | 100 | 302 | 58 | - |
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Liabilities assumed | - | - | - | - | - | 107 | - | - | 114 | 495 | 164 | - |
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