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Summit Financial Group (SMMF) Revenue & Revenue Breakdown

OverviewOwnershipFinancialsChart

Summit Financial Group Revenue Highlights

Latest Revenue (Y)

$263.33M

Latest Revenue (Q)

$70.59M

Main Segment (Y)

Credit and Debit Card

Summit Financial Group Revenue by Period

Summit Financial Group Revenue by Year

DateRevenueChange
2023-12-31$263.33M82.60%
2022-12-31$144.21M13.13%
2021-12-31$127.47M12.47%
2020-12-31$113.34M19.98%
2019-12-31$94.47M10.17%
2018-12-31$85.74M6.21%
2017-12-31$80.73M31.22%
2016-12-31$61.52M6.25%
2015-12-31$57.90M9.70%
2014-12-31$52.78M6.64%
2013-12-31$49.49M-4.86%
2012-12-31$52.02M8.29%
2011-12-31$48.04M-0.66%
2010-12-31$48.36M-1.99%
2009-12-31$49.34M-8.96%
2008-12-31$54.20M16.75%
2007-12-31$46.42M17.38%
2006-12-31$39.55M-33.73%
2005-12-31$59.68M8.45%
2004-12-31$55.03M86.43%
2003-12-31$29.52M24.07%
2002-12-31$23.79M23.33%
2001-12-31$19.29M26.78%
2000-12-31$15.22M11.05%
1999-12-31$13.70M1458.58%
1998-12-31$879.09K29.37%
1997-12-31$679.52K23.19%
1996-12-31$551.59K27.10%
1995-12-31$434.00K-

Summit Financial Group generated $263.33M in revenue during NA 2023, up 82.60% compared to the previous quarter, and up 307.12% compared to the same period a year ago.

Summit Financial Group Revenue by Quarter

DateRevenueChange
2024-03-31$70.59M-2.37%
2023-12-31$72.30M58.67%
2023-09-30$45.57M1.74%
2023-06-30$44.78M18.23%
2023-03-31$37.88M-1.71%
2022-12-31$38.54M0.69%
2022-09-30$38.27M12.53%
2022-06-30$34.01M1.88%
2022-03-31$33.38M-2.05%
2021-12-31$34.08M6.84%
2021-09-30$31.90M3.43%
2021-06-30$30.84M0.61%
2021-03-31$30.65M-2.41%
2020-12-31$31.41M3.38%
2020-09-30$30.38M16.40%
2020-06-30$26.10M2.60%
2020-03-31$25.44M7.00%
2019-12-31$23.78M4.64%
2019-09-30$22.72M-11.23%
2019-06-30$25.60M14.47%
2019-03-31$22.36M2.38%
2018-12-31$21.84M3.82%
2018-09-30$21.04M-0.10%
2018-06-30$21.06M-5.11%
2018-03-31$22.20M3.65%
2017-12-31$21.41M0.72%
2017-09-30$21.26M-1.98%
2017-06-30$21.69M32.55%
2017-03-31$16.36M-3.28%
2016-12-31$16.92M13.14%
2016-09-30$14.96M-0.66%
2016-06-30$15.05M3.18%
2016-03-31$14.59M-2.18%
2015-12-31$14.92M4.58%
2015-09-30$14.26M0.34%
2015-06-30$14.21M-2.03%
2015-03-31$14.51M10.39%
2014-12-31$13.14M-5.58%
2014-09-30$13.92M7.31%
2014-06-30$12.97M1.77%
2014-03-31$12.75M-1.38%
2013-12-31$12.93M4.08%
2013-09-30$12.42M6.28%
2013-06-30$11.68M-6.27%
2013-03-31$12.47M-32.20%
2012-12-31$18.39M70.56%
2012-09-30$10.78M-0.18%
2012-06-30$10.80M-9.63%
2012-03-31$11.95M-0.84%
2011-12-31$12.05M-4.30%
2011-09-30$12.59M-12.80%
2011-06-30$14.44M34.73%
2011-03-31$10.72M-10.86%
2010-12-31$12.02M0.68%
2010-09-30$11.94M2.81%
2010-06-30$11.62M-9.08%
2010-03-31$12.78M-30.71%
2009-12-31$18.44M34.32%
2009-09-30$13.73M56.62%
2009-06-30$8.77M-36.37%
2009-03-31$13.78M2.09%
2008-12-31$13.49M6.22%
2008-09-30$12.70M1.61%
2008-06-30$12.50M-9.31%
2008-03-31$13.79M5.74%
2007-12-31$13.04M-

Summit Financial Group generated $70.59M in revenue during Q1 2024, up -2.37% compared to the previous quarter, and up 183.16% compared to the same period a year ago.

Summit Financial Group Revenue Breakdown

Summit Financial Group Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21Dec 20Dec 19
Fiduciary and Trust$3.44M$2.98M$2.89M$2.50M$2.56M
Product and Service, Other$552.00K$516.00K---
Credit and Debit Card$7.30M$6.26M$5.90M$4.49M$3.54M
Deposit Account$6.98M$6.15M$5.03M$4.59M$5.09M

Summit Financial Group's latest annual revenue breakdown by segment (product or service), as of Dec 23: Credit and Debit Card (39.96%), Deposit Account (38.20%), Fiduciary and Trust (18.81%), and Product and Service, Other (3.02%).

Quarterly Revenue by Product

Product/ServiceMar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19
Deposit Account$1.72M$1.87M$1.77M$1.94M$1.39M$1.52M$1.55M$1.67M$1.40M$1.50M$1.34M$1.09M$1.10M$1.30M$1.14M$882.00K$1.26M$1.38M$1.31M$1.22M
Fiduciary and Trust$847.00K$952.00K$819.00K$854.00K$811.00K$750.00K$725.00K$745.00K$757.00K$847.00K$718.00K$683.00K$638.00K$625.00K$622.00K$582.00K$665.00K$734.00K$632.00K$612.00K
Product and Service, Other$97.00K$179.00K$151.00K$100.00K$122.00K$168.00K$165.00K-------------
Credit and Debit Card$1.83M$1.84M$1.91M$1.99M$1.57M$1.51M$1.64M$1.62M$1.49M$1.53M$1.51M$1.52M$1.34M$1.24M$1.24M$1.09M$933.00K$905.00K$924.00K$893.00K

Summit Financial Group's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Credit and Debit Card (40.73%), Deposit Account (38.29%), Fiduciary and Trust (18.82%), and Product and Service, Other (2.16%).

Summit Financial Group Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
RBCAARepublic Bancorp$427.52M$118.36M
GABCGerman American Bancorp$316.92M$88.45M
SMBCSouthern Missouri Bancorp$273.07M$74.54M
SHBIShore Bancshares$238.42M$81.55M
CBANColony Bankcorp$160.55M$44.69M
ISTRInvestar$141.13M$39.10M
CFBKCF Bankshares$112.31M$30.00M
WNEBWestern New England Bancorp$101.12M$27.84M
FFNWFirst Financial Northwest$80.93M$20.09M
CWBCCommunity West Bancshares$61.39M$27.26M
FCAPFirst Capital$51.24M$15.02M
IROQIF Bancorp$45.37M$12.32M
BSBKBogota Financial$38.42M$10.78M
LSBKLake Shore Bancorp$36.39M$9.64M
HFBLHome Federal Bancorp, Inc. of Louisiana$33.45M$8.04M
MGYRMagyar Bancorp$30.42M$12.74M

SMMF Revenue FAQ

What is Summit Financial Group’s yearly revenue?

Summit Financial Group's yearly revenue for 2023 was $263.33M, representing an increase of 82.60% compared to 2022. The company's yearly revenue for 2022 was $144.21M, representing an increase of 13.13% compared to 2021. SMMF's yearly revenue for 2021 was $127.47M, representing an increase of 12.47% compared to 2020.

What is Summit Financial Group’s quarterly revenue?

Summit Financial Group's quarterly revenue for Q1 2024 was $70.59M, a -2.37% decrease from the previous quarter (Q4 2023), and a 86.35% increase year-over-year (Q1 2023). The company's quarterly revenue for Q4 2023 was $72.3M, a 58.67% increase from the previous quarter (Q3 2023), and a 87.60% increase year-over-year (Q4 2022). SMMF's quarterly revenue for Q3 2023 was $45.57M, a 1.74% increase from the previous quarter (Q2 2023), and a 19.05% increase year-over-year (Q3 2022).

What is Summit Financial Group’s revenue growth rate?

Summit Financial Group's revenue growth rate for the last 3 years (2021-2023) was 106.58%, and for the last 5 years (2019-2023) was 178.76%.

What are Summit Financial Group’s revenue streams?

Summit Financial Group's revenue streams in c 23 are Fiduciary and Trust, Product and Service, Other, Credit and Debit Card, and Deposit Account. Fiduciary and Trust generated $3.44M in revenue, accounting 18.81% of the company's total revenue, up 15.38% year-over-year. Product and Service, Other generated $552K in revenue, accounting 3.02% of the company's total revenue, up 6.98% year-over-year. Credit and Debit Card generated $7.3M in revenue, accounting 39.96% of the company's total revenue, up 16.58% year-over-year. Deposit Account generated $6.98M in revenue, accounting 38.20% of the company's total revenue, up 13.45% year-over-year.

What is Summit Financial Group’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Summit Financial Group was Credit and Debit Card. This segment made a revenue of $7.3M, representing 39.96% of the company's total revenue.