Summit Financial (SMMF) 8-K Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review

 Exhibit 99.1

SUMMIT FINANCIAL GROUP, INC. AND SUBSIDIARIES
Summary of Financial Results as Originally Reported and as Restated (Unaudited)
(dollars in thousands, except per share amounts)
	For the Years Ended December 31,
	2006						2005						2004						2003
	As						As						As						As
	Previously						Previously						Previously						Previously
	Reported			Restated			Reported			Restated			Reported			Restated			Reported			Restated
Income Statement
Net interest income	$	35,296		$	35,365		$	30,147		$	30,331		$	27,081		$	27,156		$	23,624		$	23,453
Provision for loan losses		1,845			1,845			1,295			1,295			1,050			1,050			915			915
Noninterest income		4,253			4,167			2,503			1,424			3,165			2,485			3,272			3,149
Noninterest expense		21,610			21,610			19,264			19,264			16,919			16,919			14,218			14,218
Income from continuing operations
before income taxes		16,094			16,077			12,091			11,196			12,277			11,672			11,763			11,469
Applicable income taxes		5,024			5,018			3,373			3,033			3,578			3,348			3,526			3,414
Income from continuing operations		11,070			11,059			8,718			8,163			8,699			8,324			8,237			8,055
Loss from discontinued operations,
net of income taxes		(2,803	)		(2,803	)		2,524			2,524			1,909			1,909			(29	)		(29	)
Net Income	$	8,267		$	8,256		$	11,242		$	10,687		$	10,608		$	10,233		$	8,208		$	8,026
Diluted Earnings Per Share
Net income	$	1.15		$	1.15		$	1.56		$	1.48		$	1.49		$	1.44		$	1.16		$	1.13
Income from continuing operations	$	1.54		$	1.54		$	1.21		$	1.13		$	1.22		$	1.17		$	1.16		$	1.14
Average diluted shares outstanding		7,183,281			7,183,281			7,206,838			7,206,838			7,121,761			7,121,761			7,073,287			7,073,287
Net Interest Margin (1)
Net interest income -
(taxable equivalent)	$	37,267		$	37,336		$	32,076		$	32,260		$	29,096		$	29,171		$	24,812		$	24,641
Average earning assets	$	1,121,089		$	1,121,089		$	914,682		$	914,682		$	794,611		$	794,611		$	684,185		$	684,185
Net interest margin -
(taxable equivalent)		3.32	%		3.33	%		3.51	%		3.53	%		3.66	%		3.67	%		3.63	%		3.60	%
(1) This ratio changed primarily due to the reclassification of net cash settlement of the affected swap derivatives from net interest income (taxable equivalent) to noninterest income.

SUMMIT FINANCIAL GROUP, INC. AND SUBSIDIARIES
Summary of Financial Results as Originally Reported and as Restated (Unaudited)
(dollars in thousands, except per share amounts)
	Three Months Ended June 30,												Six Months Ended June 30,
	2007						2006						2007						2006
	As						As						As						As
	Previously						Previously						Previously						Previously
	Reported			Restated			Reported			Restated			Reported			Restated			Reported			Restated
Income Statement
Net interest income	$	9,347		$	9,349		$	8,653		$	8,689		$	18,371		$	18,368		$	17,032		$	17,077
Provision for loan losses		390			390			330			330			780			780			655			655
Noninterest income		1,153			875			1,109			860			2,165			2,115			2,112			1,383
Noninterest expense		5,718			5,718			5,672			5,672			11,368			11,368			11,033			11,033
Income from continuing operations
before income taxes		4,392			4,116			3,760			3,547			8,388			8,335			7,456			6,772
Applicable income taxes		1,240			1,135			1,167			1,086			2,441			2,421			2,275			2,015
Income from continuing operations		3,152			2,981			2,593			2,461			5,947			5,914			5,181			4,757
Loss from discontinued operations,
net of income taxes		(118	)		(118	)		41			41			(313	)		(313	)		424			424
Net Income	$	3,034		$	2,863		$	2,634		$	2,502		$	5,634		$	5,601		$	5,605		$	5,181
Diluted Earnings Per Share
Net income	$	0.42		$	0.40		$	0.37		$	0.35		$	0.79		$	0.78		$	0.78		$	0.72
Income from continuing operations	$	0.44		$	0.42		$	0.36		$	0.34		$	0.83		$	0.83		$	0.72		$	0.66
Average diluted shares outstanding		7,148,241			7,148,241			7,189,644			7,189,644			7,147,884			7,147,884			7,193,199			7,193,199
Net Interest Margin (1)
Net interest income -
(taxable equivalent)	$	9,692		$	9,694		$	9,148		$	9,184		$	19,108		$	19,105		$	18,084		$	18,129
Average earning assets	$	1,209,010		$	1,209,010		$	1,103,975		$	1,103,975		$	1,201,516		$	1,201,516		$	1,087,366		$	1,087,366
Net interest margin -
(taxable equivalent)		3.22	%		3.22	%		3.32	%		3.34	%		3.21	%		3.21	%		3.35	%		3.36	%
(1) This ratio changed primarily due to the reclassification of net cash settlement of the affected swap derivatives from net interest income (taxable equivalent) to noninterest income.

SUMMIT FINANCIAL GROUP, INC. AND SUBSIDIARIES
Summary of Financial Results as Originally Reported and as Restated (Unaudited)
(dollars in thousands, except per share amounts)
	Three Months Ended March 31,
	2007						2006
	As						As
	Previously						Previously
Income Statement	Reported			Restated			Reported			Restated
Net interest income	$	9,024		$	9,019		$	8,379		$	8,386
Provision for loan losses		390			390			325			325
Noninterest income		1,012			1,240			1,003			525
Noninterest expense		5,649			5,649			5,361			5,361
Income from continuing operations
before income taxes		3,997			4,220			3,696			3,225
Applicable income taxes		1,201			1,286			1,108			929
Income from continuing operations		2,796			2,934			2,588			2,296
Loss from discontinued operations,
net of income taxes		(195	)		(195	)		383			383
Net Income	$	2,601		$	2,739		$	2,971		$	2,679
Diluted Earnings Per Share
Net income	$	0.36		$	0.38		$	0.41		$	0.37
Income from continuing operations	$	0.39		$	0.41		$	0.36		$	0.32
Average diluted shares outstanding		7,147,170			7,147,170			7,189,063			7,189,063
Net Interest Margin (1)
Net interest income (taxable equivalent)	$	9,416		$	9,411		$	8,936		$	8,943
Average earning assets	$	1,193,946		$	1,193,946		$	1,070,582		$	1,070,582
Net interest margin (taxable equivalent)		3.20	%		3.20	%		3.39	%		3.39	%
(1) This ratio changed primarily due to the reclassification of net cash settlement of the affected swap derivatives from net interest income (taxable equivalent) to noninterest income.