Summit Financial Group (SMMF) Revenue & Revenue Breakdown
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
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $263.33M | 82.60% |
| 2022-12-31 | $144.21M | 13.13% |
| 2021-12-31 | $127.47M | 12.47% |
| 2020-12-31 | $113.34M | 19.98% |
| 2019-12-31 | $94.47M | 10.17% |
| 2018-12-31 | $85.74M | 6.21% |
| 2017-12-31 | $80.73M | 31.22% |
| 2016-12-31 | $61.52M | 6.25% |
| 2015-12-31 | $57.90M | 9.70% |
| 2014-12-31 | $52.78M | 6.64% |
| 2013-12-31 | $49.49M | -4.86% |
| 2012-12-31 | $52.02M | 8.29% |
| 2011-12-31 | $48.04M | -0.66% |
| 2010-12-31 | $48.36M | -1.99% |
| 2009-12-31 | $49.34M | -8.96% |
| 2008-12-31 | $54.20M | 16.75% |
| 2007-12-31 | $46.42M | 17.38% |
| 2006-12-31 | $39.55M | -33.73% |
| 2005-12-31 | $59.68M | 8.45% |
| 2004-12-31 | $55.03M | 86.43% |
| 2003-12-31 | $29.52M | 24.07% |
| 2002-12-31 | $23.79M | 23.33% |
| 2001-12-31 | $19.29M | 26.78% |
| 2000-12-31 | $15.22M | 11.05% |
| 1999-12-31 | $13.70M | 1458.58% |
| 1998-12-31 | $879.09K | 29.37% |
| 1997-12-31 | $679.52K | 23.19% |
| 1996-12-31 | $551.59K | 27.10% |
| 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
| Date | Revenue | Change |
|---|---|---|
| 2024-03-31 | $70.59M | -2.37% |
| 2023-12-31 | $72.30M | 58.67% |
| 2023-09-30 | $45.57M | 1.74% |
| 2023-06-30 | $44.78M | 18.23% |
| 2023-03-31 | $37.88M | -1.71% |
| 2022-12-31 | $38.54M | 0.69% |
| 2022-09-30 | $38.27M | 12.53% |
| 2022-06-30 | $34.01M | 1.88% |
| 2022-03-31 | $33.38M | -2.05% |
| 2021-12-31 | $34.08M | 6.84% |
| 2021-09-30 | $31.90M | 3.43% |
| 2021-06-30 | $30.84M | 0.61% |
| 2021-03-31 | $30.65M | -2.41% |
| 2020-12-31 | $31.41M | 3.38% |
| 2020-09-30 | $30.38M | 16.40% |
| 2020-06-30 | $26.10M | 2.60% |
| 2020-03-31 | $25.44M | 7.00% |
| 2019-12-31 | $23.78M | 4.64% |
| 2019-09-30 | $22.72M | -11.23% |
| 2019-06-30 | $25.60M | 14.47% |
| 2019-03-31 | $22.36M | 2.38% |
| 2018-12-31 | $21.84M | 3.82% |
| 2018-09-30 | $21.04M | -0.10% |
| 2018-06-30 | $21.06M | -5.11% |
| 2018-03-31 | $22.20M | 3.65% |
| 2017-12-31 | $21.41M | 0.72% |
| 2017-09-30 | $21.26M | -1.98% |
| 2017-06-30 | $21.69M | 32.55% |
| 2017-03-31 | $16.36M | -3.28% |
| 2016-12-31 | $16.92M | 13.14% |
| 2016-09-30 | $14.96M | -0.66% |
| 2016-06-30 | $15.05M | 3.18% |
| 2016-03-31 | $14.59M | -2.18% |
| 2015-12-31 | $14.92M | 4.58% |
| 2015-09-30 | $14.26M | 0.34% |
| 2015-06-30 | $14.21M | -2.03% |
| 2015-03-31 | $14.51M | 10.39% |
| 2014-12-31 | $13.14M | -5.58% |
| 2014-09-30 | $13.92M | 7.31% |
| 2014-06-30 | $12.97M | 1.77% |
| 2014-03-31 | $12.75M | -1.38% |
| 2013-12-31 | $12.93M | 4.08% |
| 2013-09-30 | $12.42M | 6.28% |
| 2013-06-30 | $11.68M | -6.27% |
| 2013-03-31 | $12.47M | -32.20% |
| 2012-12-31 | $18.39M | 70.56% |
| 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 | $14.44M | 34.73% |
| 2011-03-31 | $10.72M | -10.86% |
| 2010-12-31 | $12.02M | 0.68% |
| 2010-09-30 | $11.94M | 2.81% |
| 2010-06-30 | $11.62M | -9.08% |
| 2010-03-31 | $12.78M | -30.71% |
| 2009-12-31 | $18.44M | 34.32% |
| 2009-09-30 | $13.73M | 56.62% |
| 2009-06-30 | $8.77M | -36.37% |
| 2009-03-31 | $13.78M | 2.09% |
| 2008-12-31 | $13.49M | 6.22% |
| 2008-09-30 | $12.70M | 1.61% |
| 2008-06-30 | $12.50M | -9.31% |
| 2008-03-31 | $13.79M | 5.74% |
| 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/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| Deposit Account | $6.98M | $6.15M | $5.03M | $4.59M | $5.09M |
| Credit and Debit Card | $7.30M | $6.26M | $5.90M | $4.49M | $3.54M |
| Product and Service, Other | $552.00K | $516.00K | - | - | - |
| Fiduciary and Trust | $3.44M | $2.98M | $2.89M | $2.50M | $2.56M |
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/Service | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Product and Service, Other | $97.00K | $179.00K | $151.00K | $100.00K | $122.00K | $168.00K | $165.00K | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 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 |
| 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 |
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
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| RBCAA | Republic Bancorp | $427.52M | $116.05M |
| GABC | German American Bancorp | $316.92M | $71.58M |
| SMBC | Southern Missouri Bancorp | $273.07M | $69.55M |
| SMMF | Summit Financial Group | $263.33M | $70.59M |
| SHBI | Shore Bancshares | $238.42M | $81.55M |
| CBAN | Colony Bankcorp | $160.55M | $42.83M |
| ISTR | Investar | $141.13M | $38.54M |
| CFBK | CF Bankshares | $112.31M | $29.99M |
| WNEB | Western New England Bancorp | $101.12M | $30.63M |
| FFNW | First Financial Northwest | $80.93M | $20.02M |
| TCFC | Community Financial | $79.92M | $20.52M |
| CWBC | Community West Bancshares | $61.39M | $27.26M |
| FCAP | First Capital | $51.24M | $14.24M |
| IROQ | IF Bancorp | $45.37M | $11.94M |
| HMNF | HMN Financial | $43.48M | $14.79M |
| BSBK | Bogota Financial | $38.42M | $10.78M |
| LSBK | Lake Shore Bancorp | $36.39M | $9.49M |
| HFBL | Home Federal Bancorp, Inc. of Louisiana | $33.45M | $8.40M |
| MGYR | Magyar 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 Deposit Account, Credit and Debit Card, Product and Service, Other, and Fiduciary and Trust. Deposit Account generated $6.98M in revenue, accounting 38.20% of the company's total revenue, up 13.45% 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. Product and Service, Other generated $552K in revenue, accounting 3.02% of the company's total revenue, up 6.98% year-over-year. Fiduciary and Trust generated $3.44M in revenue, accounting 18.81% of the company's total revenue, up 15.38% 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.