Summit financial group, inc. (SMMF)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Payments to Acquire Businesses, Gross

-

-

-

21,826

-

-

-

-

-

-

-

Cash Flows from Operating Activities
Net income

31,866

28,072

11,915

17,297

16,102

11,356

8,068

5,713

4,074

-1,975

-

Adjustments to reconcile net income to net cash provided by operating activities:
Net income

-

-

-

-

-

-

-

-

-

-

-716

Depreciation

2,614

2,168

1,890

1,224

1,076

1,074

1,161

1,286

1,393

1,566

1,600

Provision for credit losses

1,550

2,250

1,250

500

1,250

2,250

4,500

8,500

10,000

21,350

20,325

Share-based compensation expense

590

391

385

200

151

1

2

2

10

-

0

Deferred income tax benefit

103

-349

4,076

-357

190

1,004

1,786

-502

-3,383

-3,994

1,272

Loans originated for sale

22,518

15,939

16,248

10,593

4,762

2,663

8,754

8,258

9,427

9,778

16,498

Proceeds from sale of loans

22,004

15,834

16,747

11,425

4,606

2,457

8,660

8,032

9,770

9,437

17,508

Gain (Loss) on Sales of Loans, Net

405

295

323

229

96

-

-

-

-

-

-

Realized securities (gains) losses, net

1,938

622

-14

1,127

1,444

213

240

2,348

4,006

2,051

-

(Gain) on loans sold

-

-

-

-

-

-

-

-

-

-

34

Securities (gains)

-

-

-

-

-

-

-

-

-

-

1,497

Other-than-temporary impairment of securities

-

-

-

-

-

-

118

451

2,646

988

5,366

Loss on disposal of assets

236

-74

133

946

24

-815

-501

-677

295

-

-

Gain (Loss) on Disposition of Business

1,906

0

0

-

-

-

-

-

-

-

-

Loss on disposal of assets

-

-

-

-

-

-

-

-

-

142

-112

Write-downs of foreclosed properties

2,075

776

885

668

2,415

3,771

3,722

6,862

6,651

3,401

-

Amortization of securities premiums, net

-2,263

-3,412

-4,190

-4,325

-5,131

-5,279

-6,032

-4,622

-2,155

620

2,561

Amortization (accretion) related to acquisitions, net

998

580

1,051

44

-12

-12

-

-

-

-

-

Amortization of intangibles

1,701

1,671

1,410

247

200

250

-

-

-

-

-

Earnings on cash surrender value of bank owned life insurance

1,148

1,028

707

1,059

1,032

1,088

1,058

269

825

-

-547

Amortization of goodwill and purchase accounting adjustments, net

-

-

-

-

-

-

363

363

363

363

363

Tax benefit of exercise of stock options

-

-

-

-

-

-

-

0

-

-

-

Tax benefit of exercise of stock options

-

-

-

-

-

-

-

-

0

-

-

Decrease in accrued interest receivable

-699

378

1,102

254

-293

169

48

-163

-94

-444

-894

(Increase) in cash surrender value of bank owned life insurance

-

-

-

-

-

-

-

-

-

541

-

(Increase) decrease in other assets

-133

320

-668

894

1,077

55

-2,494

2,289

1,552

-2,028

5,620

(Decrease) increase in other liabilities

4,478

3,384

510

2,827

657

1,521

860

-1,259

564

623

348

Net cash provided by operating activities

40,927

38,521

24,373

23,210

23,648

25,602

28,167

21,746

18,232

21,099

20,315

Cash Flows from Investing Activities
Proceeds from maturities and calls of securities available for sale

1,871

1,145

2,700

3,235

2,043

4,051

2,669

4,618

8,049

-

-

Proceeds from Sale of Debt Securities, Available-for-sale

142,423

107,559

152,882

72,453

-

-

-

-

-

-

-

Proceeds from (purchase of) interest bearing deposits with other banks

-

-

-

-

-

-

-

-

-

-

-34,139

Proceeds from maturities and calls of securities available for sale

-

-

-

-

-

-

-

-

-

60,972

21,365

Proceeds from sales of securities available for sale

-

-

-

-

69,632

80,914

54,340

72,056

131,950

50,893

45,543

Principal payments received on securities available for sale

22,870

24,814

31,902

35,881

38,502

34,390

62,179

66,377

57,670

57,444

73,631

Payments to Acquire Debt Securities, Available-for-sale

90,341

105,789

148,174

99,497

-

-

-

-

-

-

-

Purchases of securities available for sale

-

-

-

-

113,677

111,438

137,755

141,297

214,130

165,390

84,166

Purchases of other investments

18,228

14,550

18,604

18,273

9,997

3,899

2,960

0

2,000

-

-

Purchases of other investments

-

-

-

-

-

-

-

-

-

2,998

3,982

Proceeds from redemptions of other investments

-21,412

-11,717

-15,932

-14,066

-7,231

-5,532

-6,531

-4,763

-3,796

-1,065

-

Proceeds from maturities and calls of other investments

-

-

-

-

-

-

-

2,000

7,999

-

-

Proceeds from maturities and calls of other investments

-

-

-

-

-

-

-

-

-

3,000

3,000

Net decrease in federal funds sold

-

-

-

-

-

-

-

-

-

-

2

Net loan originations

181,615

92,189

61,104

170,716

63,359

87,983

16,225

-11,906

-7,238

-71,571

777

Purchases of premises and equipment

9,218

5,545

6,185

1,857

2,588

511

677

343

384

426

3,409

Proceeds from Sale of Property, Plant, and Equipment

860

42

0

43

0

9

37

0

0

-

-

Improvements to property held for sale

-512

-1,304

-316

-463

-

-

-

-

-

-

-

Proceeds from sales of repossessed assets & property held for sale

5,271

2,365

5,883

5,168

13,224

14,602

10,654

9,373

13,334

18,295

3,411

Proceeds from Divestiture of Businesses

7,117

0

0

-

-

-

-

-

-

-

-

Cash Acquired from Acquisition

20,589

0

39,053

31,409

0

0

-

-

-

-

-

Payment to Acquire Life Insurance Policy, Investing Activities

69

0

0

-

-

-

5,000

0

15,000

-

2,100

Net cash provided by investing activities

-77,570

-71,735

13,969

-128,551

-58,989

-64,333

-26,207

29,453

-1,478

94,426

18,379

Cash Flows from Financing Activities
Net increase in demand deposit, NOW and savings accounts

204,757

43,282

48

78,462

28,487

100,174

3,524

13,390

53,999

-9,176

122,638

Net (decrease) increase in time deposits

-38,409

-8,853

-45,261

43,575

-23,125

-42,672

-26,837

-2,764

-74,438

28,777

-71,151

Net decrease in short-term borrowings

-109,739

58,585

18,729

53,068

47,761

60,865

58,810

-11,998

14,373

-48,157

-103,360

Proceeds from long-term borrowings

-

-

-

-

-

-

3,454

0

843

-

-

Proceeds from long-term borrowings

-

-

-

-

-

-

-

-

-

-

82,656

Repayment of long-term borrowings

18

45,016

918

28,911

1,909

86,027

43,251

66,986

34,697

77,384

83,911

Repayments of Subordinated Debt

-

-

-

-

16,800

0

0

-

-

-

-

Proceeds from issuance of common stock, net of issuance costs

159

237

10

101

4,772

7,822

0

0

-

-

-

Payments for Repurchase of Common Stock

10,405

1,689

0

0

1,080

0

0

-

-

-

-

Origination of Loans to Employee Stock Ownership Plans

-

-

-

-

2,250

0

-

-

-

-

-

Proceeds from issuance of subordinated debentures

-

-

-

-

-

-

-

-

-

-

6,762

Net proceeds from issuance of preferred stock

-

-

-

-

-

-

-

-

5,807

-

-

Exercise of stock options

7

122

303

447

51

71

96

0

0

-

-

Dividends paid on common stock

7,361

6,545

5,238

4,272

3,398

0

0

-

-

-

-

Net proceeds from issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

3,519

Exercise of stock options

-

-

-

-

-

-

-

-

-

-

43

Dividends paid

-

-

-

-

-

-

-

-

-

-

445

Dividends paid on preferred stock

-

-

-

-

191

774

776

731

297

297

-

Reinvested dividends

-

-

-

-

-

-

-

-

-

-

12

Net cash used in financing activities

38,991

40,123

-32,327

142,470

32,318

39,459

-4,980

-69,089

-34,410

-106,237

-43,237

Increase in cash and cash equivalents

2,348

6,909

6,015

37,129

-3,023

728

-3,020

-17,890

-17,656

9,288

-4,543

Supplemental Disclosures of Cash Flow Information
Cash payments for:
Interest Paid, Excluding Capitalized Interest, Operating Activities

29,855

25,426

18,201

-

-

-

-

-

-

-

-

Interest

-

-

-

15,175

12,854

15,862

18,920

24,745

31,775

40,537

46,645

Income taxes

7,850

7,539

5,996

8,022

7,440

2,843

1,118

2,642

3,250

275

1,395

Supplemental Disclosures of Noncash Investing and Financing Activities
Real property and other assets acquired in settlement of loans

4,600

1,822

430

2,394

2,622

2,961

11,823

8,363

12,564

49,095

35,273

Noncash or Part Noncash Acquisition, Value of Assets Acquired

100,377

0

350,894

70,894

-

0

-

-

-

-

-

Noncash or Part Noncash Acquisition, Value of Liabilities Assumed

114,151

0

361,045

107,094

-

0

-

-

-

-

-