Summit Financial Group Management
Management criteria checks 4/4
Summit Financial Group's CEO is Charlie Maddy, appointed in Jan 1994, he has a tenure of 29.42 years. His total yearly compensation is $1.04M , comprised of 53.3% salary and 46.7% bonuses, including company stock and options. He directly owns 0.87% of the company’s shares, worth $2.26M. The average tenure of the management team and the board of directors is 11.4 years and 14.7 years respectively.
Key information
Charlie Maddy
Chief executive officer
US$1.0m
Total compensation
| CEO salary percentage | 53.3% |
| CEO tenure | 29.4yrs |
| CEO ownership | 0.9% |
| Management average tenure | 11.4yrs |
| Board average tenure | 14.7yrs |
Recent management updates
Recent updates
Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend Will Be Larger Than Last Year's
Aug 29
Summit Financial raises dividend by 11% to $0.20
Aug 25Summit Financial Q2 GAAP EPS, revenue up Y/Y
Jul 28Summit Financial Group (NASDAQ:SMMF) Will Pay A Dividend Of US$0.18
Jun 03Summit Financials: Reasonably Priced With Acquisition Upside
Jan 19Summit Financial Group (NASDAQ:SMMF) Will Pay A Larger Dividend Than Last Year At US$0.18
Nov 23Summit Financial Group's (NASDAQ:SMMF) Shareholders Will Receive A Bigger Dividend Than Last Year
Sep 02Summit Financial declares $0.17 dividend
May 28Some Shareholders May find It Hard To Increase Summit Financial Group, Inc.'s (NASDAQ:SMMF) CEO Compensation This Year
May 14If You Like EPS Growth Then Check Out Summit Financial Group (NASDAQ:SMMF) Before It's Too Late
May 07How Does Summit Financial Group, Inc. (NASDAQ:SMMF) Stand Up To These Simple Dividend Safety Checks?
Apr 02Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend
Mar 07Shareholders Of Summit Financial Group (NASDAQ:SMMF) Must Be Happy With Their 87% Return
Feb 22Summit Financial reports Q4 results
Feb 01Is Summit Financial Group, Inc. (NASDAQ:SMMF) Popular Amongst Insiders?
Jan 26What Can We Conclude About Summit Financial Group's (NASDAQ:SMMF) CEO Pay?
Dec 30
Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend
Dec 09Independent Director Gary Hinkle Just Bought 1.2% More Shares In Summit Financial Group, Inc. (NASDAQ:SMMF)
Dec 06CEO Compensation Analysis
| Date | Total Comp. | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2023 | n/a | n/a | US$55m |
| Dec 31 2022 | US$1m | US$555k | US$52m |
| Sep 30 2022 | n/a | n/a | US$50m |
| Jun 30 2022 | n/a | n/a | US$48m |
| Mar 31 2022 | n/a | n/a | US$46m |
| Dec 31 2021 | US$1m | US$531k | US$45m |
| Sep 30 2021 | n/a | n/a | US$43m |
| Jun 30 2021 | n/a | n/a | US$41m |
| Mar 31 2021 | n/a | n/a | US$37m |
| Dec 31 2020 | US$947k | US$508k | US$31m |
| Sep 30 2020 | n/a | n/a | US$29m |
| Jun 30 2020 | n/a | n/a | US$28m |
| Mar 31 2020 | n/a | n/a | US$29m |
| Dec 31 2019 | US$1m | US$488k | US$32m |
| Sep 30 2019 | n/a | n/a | US$31m |
| Jun 30 2019 | n/a | n/a | US$30m |
| Mar 31 2019 | n/a | n/a | US$28m |
| Dec 31 2018 | US$1m | US$468k | US$28m |
| Sep 30 2018 | n/a | n/a | US$23m |
| Jun 30 2018 | n/a | n/a | US$22m |
| Mar 31 2018 | n/a | n/a | US$21m |
| Dec 31 2017 | US$879k | US$448k | US$12m |
| Sep 30 2017 | n/a | n/a | US$14m |
| Jun 30 2017 | n/a | n/a | US$13m |
| Mar 31 2017 | n/a | n/a | US$12m |
| Dec 31 2016 | US$698k | US$429k | US$17m |
Compensation vs Market: Charlie's total compensation ($USD1.04M) is below average for companies of similar size in the US market ($USD1.74M).
Compensation vs Earnings: Charlie's compensation has been consistent with company performance over the past year.
CEO
Charlie Maddy (60 yo)
29.4yrs
Tenure
US$1,039,986
Compensation
Mr. H. Charles Maddy, III, also known as Charlie, is Director of Federal Home Loan Bank of Pittsburgh from January 1, 2023. He has been the President and Chief Executive Officer of Summit Financial Group,...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman | 29.4yrs | US$1.04m | 0.87% $ 2.3m | |
| Executive VP & CFO | 25.4yrs | US$953.85k | 0.62% $ 1.6m | |
| Executive VP & COO | 22.7yrs | US$602.31k | 0.22% $ 566.8k | |
| Executive VP & Chief of Credit Administration | 19.5yrs | US$1.02m | 0.29% $ 748.8k | |
| Executive VP & President of Summit Community Bank | 11.4yrs | US$622.97k | 0.25% $ 636.2k | |
| Executive VP & Chief Accounting Officer | 1.1yrs | no data | 0.13% $ 346.9k | |
| Company Secretary | no data | no data | no data | |
| Executive VP & Chief Human Resources Officer | 4.1yrs | no data | 0.11% $ 292.6k | |
| Market President | 3.4yrs | no data | no data | |
| Executive VP & Chief Experience Officer | no data | no data | 0.037% $ 95.9k | |
| Executive VP & Chief Banking Officer | no data | no data | 0.0097% $ 25.0k | |
| Executive VP & Chief Risk Officer | less than a year | no data | 0.042% $ 108.0k |
11.4yrs
Average Tenure
57.5yo
Average Age
Experienced Management: SMMF's management team is seasoned and experienced (11.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman | 30.4yrs | US$1.04m | 0.87% $ 2.3m | |
| Independent Chairman of the Board | 36.4yrs | US$79.28k | 0.83% $ 2.2m | |
| Independent Director | 29.4yrs | US$21.15k | 0.21% $ 541.5k | |
| Independent Director | 30.4yrs | US$25.95k | 4% $ 10.4m | |
| Independent Director | 25.4yrs | US$24.75k | 0.36% $ 920.9k | |
| Independent Director | 6.2yrs | US$21.90k | 0.080% $ 206.7k | |
| Independent Director | 16.1yrs | US$24.60k | no data | |
| Independent Director | 13.3yrs | US$23.85k | 2% $ 5.2m | |
| Independent Director | 12.1yrs | US$22.20k | 0.057% $ 148.0k | |
| Independent Director | 3.4yrs | US$20.70k | 0.070% $ 182.3k | |
| Independent Director | 7.1yrs | US$23.10k | no data | |
| Independent Director | 5.4yrs | US$22.65k | 0.18% $ 459.4k |
14.7yrs
Average Tenure
67.5yo
Average Age
Experienced Board: SMMF's board of directors are seasoned and experienced ( 14.7 years average tenure).