Summit Financial Group Inc. reported earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net interest income of $9,661,000 against $10,437,000 for the same period a year ago. Income before income taxes was $1,817,000 against $546,000 a year ago. Net income was $1,480,000 against $910,000 a year ago. Net income applicable to common shares was $1,331,000 or $0.16 per diluted share against $836,000 or $0.11 per diluted share a year ago. Return on average equity was 6.40% against 4.17% a year ago. Return on average assets was 0.41% against 0.25% a year ago. Net income applicable to common shares excluding realized securities gains, other-than-temporary impairment of securities and write-downs of foreclosed properties was $1,798,000 or $0.21 per diluted share against $1,914,000 or $0.24 per diluted share a year ago. GAAP total revenue was $11,650,000 against $11,308,000 a year ago. Book value per common share was $10.68 against $11.01 for the same period a year ago. Tangible book value per common share was $9.78 against $9.90 for the same period a year ago. For the full year, the company reported net interest income of $39,844,000 against $40,152,000 for the same period a year ago. Income before income taxes was $5,109,000 against loss before income taxes of $4,930,000 a year ago. Net income was $4,074,000 against net loss of $1,975,000 a year ago. Net income applicable to common shares was $3,703,000 or $0.49 per diluted share against net loss applicable to common shares of $2,272,000 or $0.31 per diluted share a year ago. Return on average equity was 4.55% against negative return on average equity of 2.60% a year ago. Return on average assets was 0.28% against net return on average assets was 0.15% a year ago. Net income applicable to common shares excluding realized securities gains, other-than-temporary impairment of securities and write-downs of foreclosed properties was $7,036,000 or $0.89 per diluted share against net applicable to common shares excluding realized securities gains, other-than-temporary impairment of securities and write-downs of foreclosed properties of $502,000 or $0.02 per diluted share a year ago. GAAP total revenue was $45,394,000 against $47,890,000 a year ago. For the fourth quarter ended December 31, 2011, the company reported write-downs of foreclosed properties of $882,000 against $1,206,000 for the same period a year ago.