AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Summit Facing GSE Impairment.
Moorefield, WV -- Summit Financial Group here plans to recognize $1.5 million of impairment in the fourth quarter relating to its $5.7 million investment in certain preferred stock of Fannie Mae and Freddie Mac.
Summit is the latest in a long line of banks that have taken "other than temporary" impairment charges related to their investment in the GSEs' preferred stock. Summit said the impairment equals $940,000 on an after-tax basis, or $0.13 per diluted share.
Summit continues to own the securities and said it made the decision to recognize impairment "primarily due to the difficulty in accurately ...
- Corinthian Mortgage Corporation Claims Damages by Units of Summit Financial...
- Press release article from: Business Wire January 6, 2004 700+ words
...National Bank, subsidiaries of Summit Financial Group, Inc. (OTCBB: SMMF...for January 22, 2004. Summit Financial Group, Inc. will continue to...vigorously defend against them. Summit Financial Group, Inc. believes that the...
- Summit Financial Group, Inc. Acquires The Sager Insurance Agency.
- Press release article from: Business Wire March 1, 2004 700+ words
...H. Charles Maddy, III, President and CEO of Summit Financial Group, Inc.(OTCBB: SMMF) is pleased to announce that Sager Insurance Agency will become part of the Summit Financial Group, Inc. family effective March 1, 2004. The new...
- Summit Financial Group Announces Q1 2004 Earnings; Diluted EPS Increases 30.2%...
- Press release article from: Business Wire April 15, 2004 700+ words
...WIRE)--April 15, 2004 SUMMIT FINANCIAL GROUP, INC. (OTCBB:SMMF...the remainder of 2004." Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB:SMMF...
- Summit Financial Group Announces Both Record Quarterly and Annual Earnings; Q4...
- Press release article from: Business Wire January 23, 2004 700+ words
...WIRE)--Jan. 23, 2004 Summit Financial Group, Inc. (OTCBB: SMMF...s earnings in 2004." Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB: SMMF...
- Summit Financial Group Announces Q3 2003 Earnings & New Mortgage Origination...
- Press release article from: Business Wire October 22, 2003 700+ words
...WIRE)--Oct. 22, 2003 Summit Financial Group, Inc. (OTCBB: SMMF...in first quarter 2004. Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB: SMMF...
- Summit Financial Group's Announces Record Quarterly and Year End Earnings; 4th...
- Press release article from: Business Wire January 31, 2003 700+ words
...WIRE)--Jan. 31, 2003 Summit Financial Group, Inc. (OTCBB: SMMF...respective marketplaces." Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB: SMMF...
- Summit Financial Group Announces Q2 2003 Earnings; Q2 GAAP EPS Grows 23.9%;...
- Press release article from: Business Wire July 29, 2003 700+ words
...WIRE)--July 29, 2003 Summit Financial Group, Inc. (OTCBB: SMMF...Chief Executive Officer. Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB: SMMF...
- Summit Financial Group's 3rd Quarter 2002 Earnings Grow 32.9%.
- Press release article from: Business Wire October 17, 2002 700+ words
...WIRE)--Oct. 17, 2002 Summit Financial Group, Inc. (OTCBB:SMMF...solid asset quality." Summit Financial Group, Inc. is a financial holding...of this press release. SUMMIT FINANCIAL GROUP, INC. (OTCBB:SMMF...