Summit Financial Group Inc. reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income of $9,896,000 against $9,661,000 a year ago. Income before income taxes was $1,979,000 against $1,817,000 a year ago. Net income applicable to common shares was $1,911,000 or $0.22 per diluted share against $1,331,000 or $0.22 per diluted share a year ago.

For the full year, the company reported net interest income of $39,820,000 against $39,844,000 a year ago. Income before income taxes was $6,932,000 against $5,109,000 a year ago. Net income applicable to common shares was $4,396,000 or $0.60 per diluted share against $3,703,000 or $0.49 per diluted share a year ago. Book value per common share as at December 31, 2012 was $11.31 against $10.68 as at December 31, 2011. Tangible book value per common share as at December 31, 2012 was $10.44 against $9.78 as at December 31, 2011.

The company recorded net loan charge-offs for the fourth quarter ended December 31, 2012. Fourth quarter 2012 net loan charge-offs were $2.4 million, or 0.99% of average loans annualized compared to $2.2 million reported in the same period last year.