Summit Financial Group, Inc.

NasdaqGS:SMMF Stock Report

Mkt Cap: US$258.9m

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 percentage53.3%
CEO tenure29.4yrs
CEO ownership0.9%
Management average tenure11.4yrs
Board average tenure14.7yrs

Recent management updates

Recent updates

Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend Will Be Larger Than Last Year's

Aug 29
Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend Will Be Larger Than Last Year's

Summit Financial raises dividend by 11% to $0.20

Aug 25

Summit Financial Q2 GAAP EPS, revenue up Y/Y

Jul 28

Summit Financial Group (NASDAQ:SMMF) Will Pay A Dividend Of US$0.18

Jun 03
Summit Financial Group (NASDAQ:SMMF) Will Pay A Dividend Of US$0.18

Summit Financials: Reasonably Priced With Acquisition Upside

Jan 19

Summit Financial Group (NASDAQ:SMMF) Will Pay A Larger Dividend Than Last Year At US$0.18

Nov 23
Summit Financial Group (NASDAQ:SMMF) Will Pay A Larger Dividend Than Last Year At US$0.18

Summit Financial Group's (NASDAQ:SMMF) Shareholders Will Receive A Bigger Dividend Than Last Year

Sep 02
Summit Financial Group's (NASDAQ:SMMF) Shareholders Will Receive A Bigger Dividend Than Last Year

Summit Financial declares $0.17 dividend

May 28

Some Shareholders May find It Hard To Increase Summit Financial Group, Inc.'s (NASDAQ:SMMF) CEO Compensation This Year

May 14
Some Shareholders May find It Hard To Increase Summit Financial Group, Inc.'s (NASDAQ:SMMF) CEO Compensation This Year

If You Like EPS Growth Then Check Out Summit Financial Group (NASDAQ:SMMF) Before It's Too Late

May 07
If You Like EPS Growth Then Check Out Summit Financial Group (NASDAQ:SMMF) Before It's Too Late

How Does Summit Financial Group, Inc. (NASDAQ:SMMF) Stand Up To These Simple Dividend Safety Checks?

Apr 02
How Does Summit Financial Group, Inc. (NASDAQ:SMMF) Stand Up To These Simple Dividend Safety Checks?

Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend

Mar 07
Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend

Shareholders Of Summit Financial Group (NASDAQ:SMMF) Must Be Happy With Their 87% Return

Feb 22
Shareholders Of Summit Financial Group (NASDAQ:SMMF) Must Be Happy With Their 87% Return

Summit Financial reports Q4 results

Feb 01

Is Summit Financial Group, Inc. (NASDAQ:SMMF) Popular Amongst Insiders?

Jan 26
Is Summit Financial Group, Inc. (NASDAQ:SMMF) Popular Amongst Insiders?

What Can We Conclude About Summit Financial Group's (NASDAQ:SMMF) CEO Pay?

Dec 30
What Can We Conclude About Summit Financial Group's (NASDAQ:SMMF) CEO Pay?

Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend

Dec 09
Here's What We Like About Summit Financial Group's (NASDAQ:SMMF) Upcoming Dividend

Independent Director Gary Hinkle Just Bought 1.2% More Shares In Summit Financial Group, Inc. (NASDAQ:SMMF)

Dec 06
Independent Director Gary Hinkle Just Bought 1.2% More Shares In Summit Financial Group, Inc. (NASDAQ:SMMF)

CEO Compensation Analysis

How has Charlie Maddy's remuneration changed compared to Summit Financial Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Mar 31 2023n/an/a

US$55m

Dec 31 2022US$1mUS$555k

US$52m

Sep 30 2022n/an/a

US$50m

Jun 30 2022n/an/a

US$48m

Mar 31 2022n/an/a

US$46m

Dec 31 2021US$1mUS$531k

US$45m

Sep 30 2021n/an/a

US$43m

Jun 30 2021n/an/a

US$41m

Mar 31 2021n/an/a

US$37m

Dec 31 2020US$947kUS$508k

US$31m

Sep 30 2020n/an/a

US$29m

Jun 30 2020n/an/a

US$28m

Mar 31 2020n/an/a

US$29m

Dec 31 2019US$1mUS$488k

US$32m

Sep 30 2019n/an/a

US$31m

Jun 30 2019n/an/a

US$30m

Mar 31 2019n/an/a

US$28m

Dec 31 2018US$1mUS$468k

US$28m

Sep 30 2018n/an/a

US$23m

Jun 30 2018n/an/a

US$22m

Mar 31 2018n/an/a

US$21m

Dec 31 2017US$879kUS$448k

US$12m

Sep 30 2017n/an/a

US$14m

Jun 30 2017n/an/a

US$13m

Mar 31 2017n/an/a

US$12m

Dec 31 2016US$698kUS$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

NamePositionTenureCompensationOwnership
H. Maddy
Vice Chairman29.4yrsUS$1.04m0.87%
$ 2.3m
Robert Tissue
Executive VP & CFO25.4yrsUS$953.85k0.62%
$ 1.6m
Scott Jennings
Executive VP & COO22.7yrsUS$602.31k0.22%
$ 566.8k
Patrick Frye
Executive VP & Chief of Credit Administration19.5yrsUS$1.02m0.29%
$ 748.8k
Bradford Ritchie
Executive VP & President of Summit Community Bank11.4yrsUS$622.97k0.25%
$ 636.2k
Julie Markwood
Executive VP & Chief Accounting Officer1.1yrsno data0.13%
$ 346.9k
Teresa Ely
Company Secretaryno datano datano data
Danyl Freeman
Executive VP & Chief Human Resources Officer4.1yrsno data0.11%
$ 292.6k
Lorraine Brisell
Market President3.4yrsno datano data
Angela Zirk
Executive VP & Chief Experience Officerno datano data0.037%
$ 95.9k
Lauren Kimlel
Executive VP & Chief Banking Officerno datano data0.0097%
$ 25.0k
Joseph Hager
Executive VP & Chief Risk Officerless than a yearno data0.042%
$ 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

NamePositionTenureCompensationOwnership
H. Maddy
Vice Chairman30.4yrsUS$1.04m0.87%
$ 2.3m
Oscar Bean
Independent Chairman of the Board36.4yrsUS$79.28k0.83%
$ 2.2m
James Cookman
Independent Director29.4yrsUS$21.15k0.21%
$ 541.5k
Gary Hinkle
Independent Director30.4yrsUS$25.95k4%
$ 10.4m
Charles Piccirillo
Independent Director25.4yrsUS$24.75k0.36%
$ 920.9k
John Shott
Independent Director6.2yrsUS$21.90k0.080%
$ 206.7k
James Geary
Independent Director16.1yrsUS$24.60kno data
Georgette George
Independent Director13.3yrsUS$23.85k2%
$ 5.2m
J. Bridgeforth
Independent Director12.1yrsUS$22.20k0.057%
$ 148.0k
Ronald Bowling
Independent Director3.4yrsUS$20.70k0.070%
$ 182.3k
John Crites
Independent Director7.1yrsUS$23.10kno data
Jason Kitzmiller
Independent Director5.4yrsUS$22.65k0.18%
$ 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).