Summit Community Bank, Inc in Moorefield, West Virginia (WV), VA
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Summit Community Bank, Inc in Moorefield, West Virginia (WV), VA
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Summit Community Bank, Inc - Overview

  • General
  • FDIC Certificate #: 34102
    Status: Active
    Federal Reserve ID: 2372774
    Bank Holding Company (Regulatory Top Holder): Summit Financial Group, Inc. (RSSDID: 1247679, Location: Moorefield, WV)
    Date Established: December 11, 1995
    WWW: http://www.mysummit.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 17 (Domestic: 17, Interstate: Yes)
    OTS Docket #: 15864
    FDIC's unique #: 56243
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 11, 1995
    Last Structure Change Effective Date: June 16, 2007
    Last Structure Change Process Date: June 26, 2007
    Last Data Update: June 26, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 310 North Main Street, Moorefield, WV 26836
    County: Hardy
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Scott Depot
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $1,442.6 mil
    Equity capital: $134.7 mil
    Deposits held in domestic offices: $1,025.3 mil
    Return on assets (ROA): 0.32% ($4.6 mil)
    Quarterly return on assets: 0.50% ($7.2 mil)
    Return on Equity (ROE): 3.63% ($4.9 mil)
    Quarterly return on equity: 5.38% ($7.3 mil)
    Net income: $4.7 mil
    Quarterly Net income: $1.8 mil
    Pretax return on assets: 0.41% ($5,914.5 mil)
    Quarterly Pretax return on assets: 0.65% ($9,376.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 193Total employees (full-time equivalent)
  • $1,442,550Total assets
  • $32,685Cash and due from depository institutions
  • $28,293Interest-bearing balances
  • $286,507Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $965,517Net loans & leases
  • $17,712Loan loss allowance
  • $0Trading account assets
  • $22,343Bank premises and fixed assets
  • $63,938Other real estate owned
  • $1,841Goodwill and other intangibles
  • $1,442,550Life insurance assets
  • $69,719All other assets
  • $1,307,837Total liabilities and capital
  • $1,025,254Total liabilities
  • $927,845Total deposits
  • $1,025,254Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 100956.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $175,325Trading liabilities
  • $0Other borrowed funds
  • $6,302Subordinated debt
  • $134,713All other liabilities
  • $134,713Total equity capital
  • $134,713Total bank equity capital
  • $0Perpetual preferred stock
  • $7,752Common stock
  • $59,306Surplus
  • $67,655Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $52,415Income earned, not collected on loans
  • $0Earning assets
  • $5,782Long-term assets (5+ years)
  • $1,280,317Average Assets, year-to-date
  • $658,139Average Assets, quarterly
  • $1,460,827Volatile liabilities
  • $1,449,744Insider loans
  • $1,045,049FHLB advances
  • $1,449,868Loans and leases held for sale
  • $29,240Unused loan commitments
  • $12,351Tier 1 (core) risk-based capital
  • $129,058Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $16,889Total unused commitments
  • $90,692Restructured Loans and leases
  • $19,517Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $71,028Total interest income
  • $29,370Total interest expense
  • $41,658Net interest income
  • $10,000Provision for loan and lease losses
  • $423Total noninterest income
  • $0Fiduciary activities
  • $2,816Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$2,393Additional noninterest income
  • $26,310Total noninterest expense
  • $11,415Salaries and employee benefits
  • $3,889Premises and equipment expense
  • $11,006Additional noninterest expense
  • $5,771Pre-tax net operating income
  • $248Securities gains (losses)
  • $1,304Applicable income taxes
  • $4,715Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,715Net income attributable to bank
  • $0Net charge-offs
  • $4,715Cash dividends
  • $9,512Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.46%Yield on earning assets
  • 2.26%Cost of funding earning assets
  • 3.20%Net interest margin
  • 0.03%Noninterest income to earning assets
  • 2.02%Noninterest expense to earning assets
  • 0.31%Net operating income to assets
  • 0.32%Return on assets (ROA)
  • 0.41%Pretax return on assets
  • 3.63%Return on equity (ROE)
  • 3.63%Retained earnings to average equity (YTD only)
  • 0.96%Net charge-offs to loans
  • 105.13%Credit loss provision to net charge-offs
  • 1.66%Efficiency ratio
  • 62,163Assets per employee
  • 7.47%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.80%Loss allowance to noncurrent loans
  • 33.79%Noncurrent assets plus other real estate owned to assets
  • 8.07%Noncurrent loans to loans
  • 5.33%Net loans and leases to deposits
  • 94.17%Net loans and leases to core deposits
  • 118.47%Equity capital to assets
  • 9.34%Core capital (leverage) ratio
  • 8.90%Tier 1 risk-based capital ratio
  • 12.35%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $1,460,827Average earning assets
  • $129,719Average equity
  • $1,299,905Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $34Managed Assets
  • 1Number of Accounts
  • $34Personal trust and agency accounts
  • $34Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 2Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 6 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    874896Shenandoah Valley Natl Bank Branch100 West Jubal Early Drive, Winchester, VA 22601May 17, 1999Full Service Brick and Mortar
    9356782Wal-Mart Superstore Branch2350 South Pleasant Valley Road, Winchester, VA 22601June 12, 2000Full Service Retail
    10363744Loudoun Leesburg Branch204 Catoctin Circle Se, Leesburg, VA 20175May 10, 2002Full Service Brick and Mortar
    11419173Neff Avenue Branch182 Neff Avenue, Harrisonburg, VA 22801May 15, 2003Full Service Brick and Mortar
    12442397South Main Street Branch224 South Main Street, Harrisonburg, VA 22801November 01, 2004Full Service Brick and Mortar
    13445564Village Center Branch251 West Lee Highway, Suite 730, Warrenton, VA 20186July 05, 2005Full Service Brick and Mortar
  • 11 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    056243Summit Community Bank, Inc310 North Main Street, Moorefield, WV 26836December 11, 1995Full Service Brick and Mortar
    1358178Virginia Street East Branch620 Virginia Street East, Charleston, WV 25301May 01, 2000Full Service Brick and Mortar
    2252390Rupert Branch910 Clay Street, Rupert, WV 25984December 30, 1985Full Service Brick and Mortar
    3358468Rainelle Branch28 Main Street, Rainelle, WV 25962April 26, 1999Full Service Brick and Mortar
    4530Southridge Branch2402 Mountaineer Boulevard, Charleston, WV 25309August 19, 1920Full Service Brick and Mortar
    54557Petersburg Branch90 South Grove Street, Petersburg, WV 26847January 01, 1883Full Service Brick and Mortar
    6212176Mathias Branch59 Upper Cove Rd., Mathias, WV 26812December 28, 1984Full Service Brick and Mortar
    7212177Franklin Branch626 Main St., Franklin, WV 26807January 02, 1987Full Service Brick and Mortar
    14452205Old Courthouse Square Branch1321 Edwin Miller Blvd., Martinsburg, WV 25401June 01, 2006Full Service Brick and Mortar
    15493146Sfgi Direct Branch300 North Main Street, Moorefield, WV 26836May 01, 2009Full Service Cyber
    16521518Treasury Branch300 North Main Street, Moorefield, WV 26836July 01, 2010Full Service Cyber

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