Brief: Summit Financial Group says announces resolution of litigation

Summit Financial

24/04/2017 21:30

April 24 (Reuters) - Summit Financial Group Inc  SMMF.O  
    * Summit Financial Group Inc announces resolution of 
litigation 
    * Summit Financial Group Inc - reached settlement with 
Residential Funding Company, LLC and Rescap Liquidating Trust 
    * Summit Financial Group Inc - settlement to resolve fully 
all litigation between summit and rescap 
    * Summit Financial Group Inc - Summit agreed to pay Rescap 
$9.9 million which will be recorded as a charge against our q1 
2017 earnings 
    * Summit Financial Group Inc - settlement to result in an 
after-tax reduction in net income of $6.2 million, or $0.58 per 
diluted share 
 
Source text for Eikon:  ID:nGNXNSRMIa  
Further company coverage:  SMMF.O  
 
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