FORM  10-Q

           SECURITIES  AND  EXCHANGE  COMMISSION
                  Washington,  D.C.  20549

     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)
         OF  THE  SECURITIES  EXCHANGE  ACT  OF  1934

     For  The  Quarterly  Period  Ended  March  31,  2000

            Commission  File  Number  000-19235

               SUMMIT  FINANCIAL  CORPORATION
     (Exact  name  of  registrant  as  specified  in  its  charter)


SOUTH  CAROLINA                                               57-0892056
(State  or  other  jurisdiction                         (I.R.S.  Employer
of  incorporation  or                                 Identification  No.)
organization)

                   Post  Office  Box  1087
               937  North  Pleasantburg  Drive
              Greenville,  South  Carolina  29602
     (Address,  including  zip  code,  of  principal  executive  offices)

                      (864)  242-2265
     (Registrant's  telephone  number,  including  area  code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.    YES  [X]  NO  [  ]

Indicate  the  number  of  shares outstanding of each of the issuer's classes of
common  stock,  as  of  the  latest  practicable  date.

As  of  April  28,  2000,  3,394,626 shares of $1.00 par value common stock were
outstanding.


<PAGE>

<TABLE>
<CAPTION>

                  SUMMIT FINANCIAL CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                             (Dollars in Thousands)
                                   (Unaudited)


                                                    March 31,    December 31,
                                                      2000           1999
                                                   -----------  --------------
<S>                                                <C>          <C>
ASSETS
Cash and due from banks                            $    6,384   $       3,952
Interest-bearing bank balances                          2,463           4,399
Federal funds sold                                      6,040           1,470
Investments available for sale                         26,105          26,466
Loans, net of unearned income and net of
 allowance for loan losses of $2,210 and $2,163       148,810         146,007
Premises and equipment, net                             2,799           2,890
Accrued interest receivable                             1,193           1,337
Other assets                                            4,901           4,708
                                                   -----------  --------------
                                                   $  198,695   $     191,229
                                                   ===========  ==============
  LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
 Noninterest-bearing demand                        $   22,480   $      23,823
 Interest-bearing demand                               13,175          14,073
 Savings and money market                              55,827          50,845
 Time deposits, $100,000 and over                      33,051          28,459
 Other time deposits                                   39,511          40,796
                                                   -----------  --------------
                                                      164,044         157,996
Federal funds purchased                                     -           4,000
Other short-term borrowings                               500             500
FHLB advances                                          13,000           9,000
Accrued interest payable                                1,211           1,132
Other liabilities                                       1,376           1,010
                                                   -----------  --------------
                                                      180,131         173,638
                                                   -----------  --------------
Shareholders' equity:
 Common stock, $1.00 par value; 20,000,000
  shares authorized; issued and
  outstanding 3,393,700 and 3,243,739 shares            3,394           3,244
 Additional paid-in capital                            15,092          14,730
 Retained earnings                                      1,135             483
 Accumulated other comprehensive loss, net of tax        (629)           (563)
 Nonvested resticted stock                               (428)           (303)
                                                   -----------  --------------
     Total shareholders' equity                        18,564          17,591
                                                   -----------  --------------
                                                   $  198,695   $     191,229
                                                   ===========  ==============
<FN>

SEE  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                  SUMMIT FINANCIAL CORPORATION AND SUBSIDIARIES
                        CONSOLIDATED STATEMENTS OF INCOME
                 (Dollars, except per share data, in Thousands)
                                   (Unaudited)

                                            For the Three Months Ended
                                                          March 31,
                                                    ------------------
                                                      2000        1999
                                                      ----        ----
<S>                                            <C>          <C>
Interest Income:
 Loans                                         $    3,826   $    3,182
 Taxable investment securities                        251          237
 Nontaxable investment securities                     135          122
 Federal funds sold                                    33            2
 Other                                                 36           22
                                               -----------  -----------
                                                    4,281        3,565
                                               -----------  -----------
Interest Expense:
 Deposits                                           1,709        1,396
 Other                                                168          124
                                               -----------  -----------
                                                    1,877        1,520
                                               -----------  -----------
     Net interest income                            2,404        2,045
Provision for loan losses                             (93)         (81)
                                               -----------  -----------
     Net interest income after
      provision for loan losses                     2,311        1,964
                                               -----------  -----------
Noninterest Income:
 Service charges and fees on deposit accounts          94           48
 Credit card service fees and income                   89           77
 Insurance commission fee income                       76           60
 Gain on sale of securities                             -           22
 Other income                                         143          187
                                               -----------  -----------
                                                      402          394
                                               -----------  -----------
Noninterest Expenses:
 Salaries, wages and benefits                         973          843
 Occupancy                                            142          145
 Furniture, fixtures and equipment                    167          154
 Other operating expenses                             471          421
                                               -----------  -----------
                                                    1,753        1,563
                                               -----------  -----------
Income before income taxes                            960          795
Income taxes                                         (308)        (228)
                                               -----------  -----------
Net income                                     $      652   $      567
                                               ===========  ===========

Net income per share:
   Basic                                       $      .20   $      .18
   Diluted                                     $      .18   $      .15
Average shares outstanding:
   Basic                                        3,317,000    3,154,000
   Diluted                                      3,704,000    3,771,000

<FN>

SEE  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                                          SUMMIT FINANCIAL CORPORATION AND SUBSIDIARIES
                            CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND COMPREHENSIVE INCOME
                                       FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
                                                     (Dollars in Thousands)
                                                           (Unaudited)


                                                                                     Accumulated
                                                           Additional               other compre-    Nonvested        Total
                                                  Common     paid-in    Retained    hensive (loss)   restricted    shareholders'
                                                  stock      capital    earnings     income, net       stock         equity
                                               ------------  --------  ----------  ---------------  -----------  ---------------
<S>                                            <C>           <C>       <C>         <C>              <C>          <C>
Balance at December 31, 1998                   $      3,039  $ 12,726           -  $          313        ($404)  $       15,674
Net income for the three months
 ended March 31, 1999                                     -         -         567               -            -              567
Other comprehensive income:
Unrealized gain on securities:
 Unrealized holding losses arising during
  the period, net of tax of ($116)                        -         -           -            (174)           -                -
 Less: reclassification adjustment for gains
  included in net income, net of tax of ($6)              -         -           -             (16)           -                -
                                                                                   ---------------
 Other comprehensive loss                                 -         -           -            (190)           -             (190)
                                                                                   ---------------               ---------------
Comprehensive income                                    377
                                               ------------
Employee stock options exercised                          9        23           -               -            -               32
Amortization of deferred
 compensation on restricted stock                         -         -           -               -           25               25
                                               ------------  --------  ----------  ---------------  -----------  ---------------
Balance at March 31, 1999                      $      3,048  $ 12,749  $      567  $          123        ($379)  $       16,108
                                               ============  ========  ==========  ===============  ===========  ===============

Balance at December 31, 1999                   $      3,244  $ 14,730  $      483           ($563)       ($303)  $       17,591
Net income for the three months
 ended March 31, 2000                                     -         -         652               -            -              652
Other comprehensive income:
 Unrealized holding losses arising during
  the period, net of tax of ($40)                         -         -           -             (66)           -              (66)
                                                                                                                 ---------------
Comprehensive income                                    586
                                               ------------
Employee stock options exercised                        136       220           -               -            -              356
Issuance of common stock pursuant
 to restricted stock plan                                14       142           -               -         (156)               -
Amortization of deferred
 compensation on restricted stock                         -         -           -               -           31               31
                                               ------------  --------  ----------  ---------------  -----------  ---------------
Balance at March 31, 2000                      $      3,394  $ 15,092  $    1,135           ($629)       ($428)  $       18,564
                                               ============  ========  ==========  ===============  ===========  ===============

<FN>

SEE  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                           SUMMIT FINANCIAL CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (Dollars in Thousands)
                                   (Unaudited)

                                                   For  the  Three  Months  Ended
                                                                    March 31,
                                                               ------------------
                                                                 2000      1999
                                                               --------  --------
<S>                                                            <C>       <C>
Cash flows from operating activities:
 Net income                                                    $   652   $   567
Adjustments to reconcile net income to net cash
 provided by operating activities:
    Provision for loan losses                                       93        81
    Depreciation and amortization                                  121       122
    Gain on sale of equipment and vehicles                           -       (26)
    Gain on sale of investments available for sale                   -       (22)
    Net amortization of net premium on investments                  10        23
    Amortization of deferred compensation on restricted stock       31        25
    Decrease in other assets                                       127       145
    Increase (decrease) in other liabilities                       446      (138)
    Deferred income taxes                                          (36)        -
                                                               --------  --------
Net cash provided by operating activities                        1,444       777
                                                               --------  --------
Cash flows from investing activities:
  Purchases of securities available for sale                         -    (2,389)
  Proceeds from maturities of securities
   available for sale                                              245     1,884
  Proceeds from sales of securities available for sale               -     1,021
  Purchases of investments in FHLB and other stock                (100)      (35)
  Net increase in loans                                         (2,896)   (1,132)
  Purchases of premises and equipment                              (31)      (85)
  Proceeds from sale of equipment and vehicles                       -        49
                                                               --------  --------
Net cash used in investing activities                           (2,782)     (687)
                                                               --------  --------
Cash flows from financing activities:
  Net increase in deposit accounts                               6,048     2,560
  Net decrease in federal funds purchased                       (4,000)   (3,357)
  Repayment of other short-term borrowings                           -      (320)
  Proceeds from FHLB advances                                    6,000     9,550
  Repayments of FHLB advances                                   (2,000)   (9,850)
  Proceeds from employee stock options exercised                   356        32
                                                               --------  --------
Net cash provided by (used in) financing activities              6,404    (1,385)
                                                               --------  --------
Net increase (decrease) in cash and cash equivalents             5,066    (1,295)
Cash and cash equivalents, beginning of period                   9,821     6,400
                                                               --------  --------
Cash and cash equivalents, end of period                       $14,887   $ 5,105
                                                               ========  ========

SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest                       $ 1,798   $ 1,645
Cash paid during the period for income taxes                   $    32   $    25
Change in market value of investment securities
 available for sale, net of income taxes                          ($66)    ($190)

<FN>

SEE  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
</TABLE>

<PAGE>

                          SUMMIT FINANCIAL CORPORATION
     CONDENSED  NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
                                 MARCH 31, 2000

NOTE  1  -  BASIS  OF  PRESENTATION:
     Summit  Financial  Corporation (the Company), a South Carolina corporation,
is  the parent holding company for Summit National Bank (the Bank), a nationally
chartered  bank,  and  Freedom  Finance,  Inc. (the Finance Company), a consumer
finance  company.

     Through  its  bank subsidiary, which commenced operations in July 1990, the
Company  provides  a  full  range  of  banking services, including the taking of
demand  and  time deposits and the making of commercial and consumer loans.  The
Bank  currently  has  three  full  service branch locations in Greenville, South
Carolina.  In  1997, the Bank incorporated Summit Investment Services, Inc. as a
wholly-owned  subsidiary  to  offer nondeposit products and financial management
services.  The  Finance  Company commenced operations in November 1994 and makes
and  services  small  installment  loans  to individuals from its eleven offices
throughout  South  Carolina.

     The  accompanying consolidated financial statements include the accounts of
the  Company  and  its  subsidiaries.  All significant intercompany accounts and
transactions  have been eliminated in consolidation.  The unaudited consolidated
financial  statements  of  the Company at March 31, 2000 and for the three month
period  ended  March  31,  2000  and  1999  were prepared in accordance with the
instructions  for  Form  10-Q.  In  the  opinion  of management, all adjustments
(consisting  only  of  items  of a normal recurring nature) necessary for a fair
presentation  of  the  financial  position at March 31, 2000, and the results of
operations  and  cash  flows  for the periods ended March 31, 2000 and 1999 have
been  included.  The results for the three month period ended March 31, 2000 are
not necessarily indicative of the results that may be expected for the full year
or  any  other  interim  period.

     The  consolidated  financial  statements  are  prepared  in conformity with
generally  accepted  accounting principles ("GAAP") which requires management to
make  estimates  and  assumptions.  These  estimates  and assumptions affect the
reported  amounts  of  assets  and  liabilities and the disclosure of contingent
assets  and  liabilities  at the date of the financial statements.  In addition,
the  estimates  affect  the  reported  income  and  expense during the reporting
period.  Actual  results  could  differ  from  these  estimates and assumptions.

     These  consolidated  financial  statements  do  not include all disclosures
required  by  generally  accepted  accounting  principles  and should be read in
conjunction  with  the  Company's  audited consolidated financial statements and
related  notes  for  the  year ended December 31, 1999 included in the Company's
1999  Annual  Report  on  Form  10-K.

NOTE  2  -  CASH  FLOW  INFORMATION:
          For  the  purposes of reporting cash flows, cash includes currency and
coin,  cash items in process of collection and due from banks.  Included in cash
and  cash  equivalents  are  federal  funds sold and overnight investments.  The
Company  considers  the  amounts included in the balance sheet line items, "Cash
and  due  from banks", "Interest-bearing bank balances" and "Federal funds sold"
to  be  cash  and  cash  equivalents.  These  accounts  totaled  $14,887,000 and
$5,105,000  at  March  31,  2000  and  1999,  respectively.


<PAGE>
NOTE  3  -  PER  SHARE  INFORMATION:
     The  following  is  a  reconciliation  of the denominators of the basic and
diluted  per  share computations for net income for the three months ended March
31,  2000  and  1999.  There is no required reconciliation of the numerator from
the  net  income  reported on the accompanying statements of income. All average
share  and  per share data have been restated to reflect all stock distributions
and  the  1998  two-for-one  stock  split  as  of the earliest period presented.

<TABLE>
<CAPTION>

                                           Three Months Ended March 31,
                                      2000        2000        1999        1999
                                   ----------  ----------  ----------  ----------
                                       BASIC     DILUTED      BASIC      DILUTED
                                  -----------  ----------  ----------  ----------
<S>                                <C>         <C>         <C>         <C>
Net Income                         $  652,000  $  652,000  $  567,000  $  567,000
                                   ----------  ----------  ----------  ----------

Average shares outstanding          3,316,980   3,316,980   3,153,786   3,153,786
Effective of Dilutive Securities:
    Stock options                           -     339,731           -     574,760
    Unvested restricted stock               -      47,340           -      42,336
                                   ----------  ----------  ----------  ----------
                                    3,316,980   3,704,051   3,153,786   3,770,882
                                   ----------  ----------  ----------  ----------

Per-share amount                   $     0.20  $     0.18  $     0.18  $     0.15
                                   ==========  ==========  ==========  ==========
</TABLE>

<PAGE>

NOTE  4  -  SEGMENT  INFORMATION:
     The  Company reports information about its operating segments in accordance
with  SFAS  131,  "Disclosures  about  Segments  of  an  Enterprise  and Related
Information".  Summit  Financial  Corporation  is the parent holding company for
Summit National Bank ("Bank"), a nationally chartered bank, and Freedom Finance,
Inc.  ("Finance"),  a  consumer finance company.  The Company considers the Bank
and  the  Finance  Company  separate  business  segments.

     Financial performance for each segment is detailed in the following tables.
Included  in the "Corporate" column are amounts for general corporate activities
and  eliminations  of  intersegment  transactions.

<TABLE>
<CAPTION>

At  and  for  the  three  months  ended  March  31,  2000

                             Bank      Finance    Corporate     Total
                           ---------  ---------  -----------  ---------
<S>                        <C>        <C>        <C>          <C>
Interest income            $  3,839   $    464         ($22)  $  4,281
Interest expense             (1,868)       (77)          68     (1,877)
                           ---------  ---------  -----------  ---------
Net interest income           1,971        387           46      2,404
Provision for loan losses       (65)       (28)           -        (93)
Other income                    321         93          (12)       402
Other expenses               (1,361)      (389)          (3)    (1,753)
                           ---------  ---------  -----------  ---------
Income before taxes             866         63           31        960
Income taxes                   (273)       (24)         (11)      (308)
                           ---------  ---------  -----------  ---------
Net income                 $    593   $     39   $       20   $    652
                           =========  =========  ===========  =========
Net loans                  $147,003   $  2,742        ($935)  $148,810
                           =========  =========  ===========  =========
Total assets               $196,157   $  3,529        ($991)  $198,695
                           =========  =========  ===========  =========
</TABLE>



<TABLE>
<CAPTION>

At  and  for  the  three  months  ended  March  31,  1999

                             Bank      Finance    Corporate     Total
                           ---------  ---------  -----------  ---------
<S>                        <C>        <C>        <C>          <C>
Interest income            $  3,140   $    447         ($22)  $  3,565
Interest expense             (1,511)       (68)          59     (1,520)
                           ---------  ---------  -----------  ---------
Net interest income           1,629        379           37      2,045
Provision for loan losses       (40)       (41)           -        (81)
Other income                    318         88          (12)       394
Other expenses               (1,193)      (367)          (3)    (1,563)
                           ---------  ---------  -----------  ---------
Income before taxes             714         59           22        795
Income taxes                   (199)       (23)          (6)      (228)
                           ---------  ---------  -----------  ---------
Net income                 $    515   $     36   $       16   $    567
                           =========  =========  ===========  =========
Net loans                  $128,515   $  2,428      ($1,050)  $129,893
                           =========  =========  ===========  =========
Total assets               $167,041   $  3,350      ($1,142)  $169,249
                           =========  =========  ===========  =========
</TABLE>

<PAGE>

                          SUMMIT FINANCIAL CORPORATION

     PART  I.  FINANCIAL  INFORMATION

     ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS
     OF  FINANCIAL  CONDITION  AND  RESULTS  OF  OPERATIONS


     The  following  discussion  and analysis should be read in conjunction with
the consolidated financial statements and related notes and with the statistical
information  and  financial  data appearing in this report as well as the Annual
Report  of Summit Financial Corporation (the "Company") on Form 10K for the year
ended December 31, 1999.  Results of operations for the three month period ended
March  31, 2000 are not necessarily indicative of results to be attained for any
other  period.

FORWARD-LOOKING  STATEMENTS
     This  report  may  contain certain "forward-looking statements", within the
meaning of  Section 27A of the Securities Exchange Act of l934, as amended, that
represent  the Company's expectations or beliefs concerning future events.  Such
forward-looking  statements  are  about  matters  that are inherently subject to
certain risks, uncertainties, and assumptions.  Factors that could influence the
matters  discussed  in  certain  forward-looking statements include the relative
levels of market interest rates, loan prepayments and deposit decline rates, the
timing  and  amount  of  revenues  that  may  be  recognized  by  the  Company,
continuation  of  current  revenue,  expense  and  charge-off  trends, legal and
regulatory  changes,  and general changes in the economy.  Should one or more of
these risks or uncertainties materialize, or should underlying assumptions prove
incorrect,  actual results may vary materially from those expected or projected.
These forward-looking statements speak only as of the date of the document.  The
Company assumes no obligation to update any forward-looking statements.  Because
of  the  risks and uncertainties inherent in forward-looking statements, readers
are  cautioned  not  to  place  undue  reliance  on  them.

OVERVIEW
     Summit  Financial  Corporation  (the  "Company") is a financial institution
holding company headquartered in Greenville, South Carolina.  The Company offers
a  broad range of financial services through its wholly-owned subsidiary, Summit
National  Bank  (the  "Bank,"  or "Summit").  The Bank is a nationally chartered
commercial  bank  which  operates  principally in the Upstate of South Carolina.
The  Bank  received its charter and commenced operations in July 1990.  In 1997,
the  Bank  incorporated  Summit  Investment  Services,  Inc.  as  a wholly-owned
subsidiary  to  provide  a  wider  range  of  investment  products and financial
planning  services.  The  Bank  currently  has  three  full  service  offices in
Greenville, South Carolina.  Summit provides a full range of banking services to
individuals  and  businesses,  including the taking of time and demand deposits,
making  loans, and offering nondeposit investment services.  The Bank emphasizes
close  personal contact with its customers and strives to provide a consistently
high  level  of  service  to  both  individual  and  corporate  customers.

     Freedom  Finance,  Inc.  (the  "Finance  Company"  or  "Freedom,")  is  a
wholly-owned subsidiary of the Company  which is operating as a consumer finance
company  headquartered  in  Greenville,  South  Carolina.  The  Finance  Company
primarily  makes  and  services  installment  loans  to  individuals  with  loan
principal  amounts  generally  not  exceeding $2,000 and with maturities ranging
from  three  to  eighteen  months.  Freedom  operates eleven branches throughout
South  Carolina.

     During  the  quarter ended March 31, 2000, the Company's net income totaled
$652,000  or $.18 per diluted share.  This is compared to net income of $567,000
or  $.15  per diluted share for the same quarterly period of 1999 or an increase
of  15.0%.

BALANCE  SHEET  ACTIVITY
     Total assets increased $7.5 million or 3.9% from December 31, 1999 to March
31,  2000.  Deposits  increased  approximately  $6.0  million or 3.8% during the
period.  A  majority  of the increase in deposits was in the jumbo (greater than
$100,000)  certificates  of deposit category which accounted for $4.6 million of
the  increase  and  the  money  market deposit category which accounted for $4.9
million  of  the  increase.

     The  increase  in deposits funded gross loan growth of $2.9 million (1.9%),
and  the  $4.6  million  (311%)  increase  in federal funds sold during the same
period.

ALLOWANCE  FOR  LOAN  LOSSES
     The  amount  charged  to  the provision for loan losses by the Bank and the
Finance  Company is based on management's judgment as to the amounts required to
maintain  an  allowance  adequate to provide for probable losses inherent in the
loan  portfolio.  The  level  of  this allowance is dependent upon growth in the
loan  portfolios; the total amount of past due loans; nonperforming loans; known
loan deteriorations and/or concentrations of credit; trends in portfolio volume,
maturity  and  composition;  estimated  collateral  values;  general  economic
conditions;  and  management's assessment of inherent losses based upon internal
credit  grading of the loans and periodic reviews and assessments of credit risk
associated  with  particular  loans.

     At  March  31,  2000,  the  consolidated allowance for loan losses was $2.2
million  or  1.46%  of  total loans net of unearned income.  This compares to an
allowance  of  $1.9  million  or  1.47% of total loans net of unearned income at
March  31,  1999.  For  the  quarter  ended March 31, 2000, the Company reported
consolidated  net  charge-offs  of  $46,000  or  0.03%  of  average  loans on an
annualized  basis.  This is compared to consolidated net recoveries of ($35,000)
or  0.11%  (annualized)  of  average  loans  for the comparable quarter of 2000.
There  were  no  loans  on  nonaccrual  status  at  March  31, 1999 and loans on
nonaccrual  for  the  2000 quarter end totaled $267,000 or 0.18% of total loans.
Loans  past  due  90 days and greater totaled $83,000 or 0.05% of gross loans at
March 31, 2000 and $75,000 or 0.06% of gross loans at March 31, 1999.  Generally
loans  of  the  Bank are placed on nonaccrual status at the earlier of when they
are 90 days past due or when the collection of interest becomes doubtful.  Loans
of  the  Finance  Company  are not classified as nonaccrual, but are charged-off
when  they  become  150  days  contractually  past due or earlier if the loan is
deemed  uncollectible.  The  allowance  for  loan  losses  at  March  31,  2000
represents  management's  estimate  of  probable  losses  inherent  in  the loan
portfolio  at  that  date.


EARNINGS  REVIEW  FOR  THE  THREE  MONTHS  ENDED  MARCH  31,  2000  AND  1999

GENERAL
     The  Company  reported  consolidated  net income for the three months ended
March  31,  2000  of  $652,000, compared to net income of $567,000 for the three
months  ended  March  31,  1999,  or  an improvement of approximately $85,000 or
15.0%.  The  increase  in consolidated earnings for the 2000 period is primarily
attributable  to  the  $359,000  or 17.6% increase in the Company's net interest
income.  The  higher net interest income is directly related to the higher level
of average earning assets which increased 13.6% in 2000 as compared to the prior
year,  combined  with  the  higher  net interest margin for the first quarter of
2000. Somewhat offsetting these items is the increase in noninterest expenses of
approximately  12.2%  and  the  higher  provision  for loan losses of $12,000 or
14.8%.

NET  INTEREST  INCOME
     Net  interest  income,  the  difference  between  the  interest  earned and
interest paid, is the largest component of the Company's earnings and changes in
it  have the greatest impact on net income.  Variations in the volume and mix of
assets and liabilities and their relative sensitivity to interest rate movements
determine  changes  in net interest income.  During the three months ended March
31, 2000, the Company recorded consolidated net interest income of $2.4 million,
a  17.6%  increase  from  the  net interest income of $2.0 million for the three
months ended March 31, 1999.  The increase in this amount is directly related to
the  increase in the average earning asset and interest-bearing liability volume
of the Company of 13.6% and 13.8% respectively, combined with the 14 basis point
increase  in  the  net  interest  margin  for  the  Company.

     For  the  three  months  ended  March  31,  2000  and  1999,  the Company's
consolidated  net  interest  margin  was 5.55% and 5.41%, respectively.  The net
interest  margin  is  calculated  as  annualized  net interest income divided by
year-to-date  average  earning assets. The increase in consolidated net interest
margin  is  related primarily to the increasing interest rate environment in the
latter  half  of 1999 and into 2000.  During this period, the average prime rate
increased  125  basis points resulting in an average prime rate of 8.69% for the
first  quarter  of  2000  compared to 7.75% for the prior year.  The increase in
average  yield  on  assets  was  partially offset by the related increase in the
average  cost  of  liabilities.

INTEREST  INCOME
     For  the  three  months  ended March 31, 2000, the Company's earning assets
averaged  $179.4  million  and  had an average yield of 9.75%.  This compares to
average  earning  assets  of  $157.9 million for the first three months of 1999,
yielding  approximately  9.31%.  Thus,  the  13.6% increase in volume of average
earning  assets,  combined  with  the  44 basis point increase in average yield,
accounts  for  the $716,000 (20.1%) increase in interest income between 1999 and
2000.

     Consolidated  loans  comprised  approximately  83% of the Company's average
earning  assets for the first three months of 2000 compared to 82% for the prior
year.  The  majority  of  the  Company's  loans  are  tied  to  the  prime  rate
(approximately  62%  of  the  Bank's portfolio is at floating rates at March 31,
2000),  which averaged 8.69% and 7.75% for the three months ended March 31, 2000
and  1999,  respectively.  During  the  first three months of 2000, consolidated
loans averaged $148.8 million, yielding an average of 10.34%, compared to $130.1
million, yielding an average of 9.92% for the first three months of 1999. The 42
basis  point  increase in the average yield on loans is primarily related to the
higher  prime  lending rate.  The higher level of average loans (which increased
14.4%),  combined  with the increase in average rate, resulted in an increase in
consolidated  interest  income  on  loans  of  $644,000  or  20.2%.

     Investment  securities  averaged  $26.2 million or 14.6% of average earning
assets and yielded 7.00% (tax equivalent basis) during the first three months of
2000,  compared  to  average  securities  of  $26.5  million yielding 6.44% (tax
equivalent  basis)  for  the three months ended March 31, 1999.  The increase in
the  average  yield  of the investment portfolio is related to the portfolio mix
and  the  timing  of  security maturities which were reinvested in higher market
rate  instruments.  This  increase,  offset  by  the  1.5%  reduction in average
securities,  resulted  in  the  increase  of  interest  income  on securities of
$27,000.

INTEREST  EXPENSE
     The  Company's  interest  expense for the three months ended March 31, 2000
was  $1.9  million.  The  increase  of 23.5% from the comparable three months in
1999  of $1.5 million was directly related to the 36 basis point increase in the
average  rate  on  liabilities,  combined  with  the  13.8%  increase in volume.
Interest-bearing  liabilities averaged $150.4 million for the first three months
of  2000  with  an  average  rate  of  5.02%.  This  is  compared  to  average
interest-bearing liabilities of $132.1 million with an average rate of 4.66% for
the  three  months  ended  March  31,  1999.  The  increase  in  average rate on
liabilities  is directly related to the increasing interest rate environment and
the  resulting  higher  cost  of  deposits.

PROVISION  FOR  LOAN  LOSSES
     The allowance for loan losses is established through charges in the form of
a provision for loan losses.  Loan losses and recoveries are charged or credited
directly  to the allowance.  The amount charged to the provision for loan losses
by  the Bank and the Finance Company is based on management's judgment as to the
amounts required to maintain an adequate allowance.  The level of this allowance
is  dependent  upon  growth in the loan portfolios; the total amount of past due
loans;  nonperforming loans; and known loan deteriorations and/or concentrations
of  credit.  Other  factors  affecting  the  allowance  are  trends in portfolio
volume,  maturity  and  composition;  collateral  values;  and  general economic
conditions.  Finally,  management's  assessment  of  probable  losses based upon
internal  credit  grading  of  the loans and periodic reviews and assessments of
credit  risk  associated with particular loans is considered in establishing the
allowance  amount.

     Management  maintains  an  allowance  for  loan  losses  which  it believes
adequate  to cover inherent losses in the loan portfolio.  However, management's
judgment  is  based  upon  a  number  of  assumptions  which  are believed to be
reasonable,  but  which  may  or may not prove valid.  There are risks of future
losses which cannot be quantified precisely or attributed to particular loans or
classes  of  loans.  Management  uses  the  best  information  available to make
evaluations,  however,  future  adjustments to the allowance may be necessary if
economic  conditions  differ  substantially  from the assumptions used in making
evaluations.  The  Company  is  also  subject  to  regulatory  examinations  and
determinations  as to the adequacy of the allowance, which may take into account
such  factors as the methodology used to calculate the allowance for loan losses
and  the  size  of  the  allowance  in  comparison  to a group of peer companies
identified  by  the  regulatory  agencies.

     Included  in  the net income for the three months ended March 31, 2000 is a
provision  for loan losses of $93,000 compared to a provision of $81,000 for the
first  three  months  of  1999.  The  higher net loan originations for the first
three  months  of  2000, which totaled $2.9 million compared to $1.1 million for
1999,  led to the increase in the provision for loan losses in the current year.


NONINTEREST  INCOME  AND  EXPENSES
     Noninterest  income,  which  is  primarily  related  to  service charges on
customers'  deposit  accounts;  credit  card interchange fees; merchant discount
fees;  commissions  on nondeposit investment product sales and insurance product
sales;  and  mortgage  origination fees, was $402,000 for the three months ended
March  31,  2000  compared to $394,000 for the first three months of 2000, or an
increase  of 2.0%.  Increases in service charges and insurance commission income
was  offset  by  decreases  in  other  income items related to gains on sales of
available  for  sale  investment securities and company vehicles.  The increases
are  primarily  related  to the higher level of activity and transactions of the
Bank  generating  other  income  in  the  normal  course  of  business.

     For  the  three months ended March 31, 2000, noninterest expenses were $1.8
million  which  is  an  increase of 12.2% over the amount incurred for the three
months ended March 31, 2000 of $1.6 million.  The most significant item included
in other expenses is salaries, wages and benefits which amounted to $973,000 for
the  three  months  ended  March  31, 2000 as compared to $843,000 for the three
months  ended  March 31, 1999.  The increase of $130,000 or 15.4% is a result of
normal  annual  raises, replacement of staff due to turnover at higher salaries,
and  higher  incentive bonus accruals related to new bonus plans put in place in
2000.

     Occupancy  and furniture, fixtures, and equipment ("FFE") expenses remained
fairly constant between the first three months of 1999 and 2000 as there were no
significant  changes  in  the  Company  facilities  between  the  two  periods.

     Included  in  the  line  item  "other  operating expenses", which increased
$50,000  or  12.0%  from  the  comparable  period  of  1999, are charges for OCC
assessments; property and bond insurance; ATM switch fees; credit card expenses;
professional services; education and seminars; advertising and public relations;
and  other  branch  and  customer  related  expenses.  The increase is primarily
related  to  higher  levels  of  legal  fees related to loan collection efforts,
security  expense  related  to  Y2K staffing in January, and increases in credit
card/merchant  and other deposit related expenses due to general business volume
increases.

INCOME  TAXES
     For the three months ended March 31, 2000, the Company reported $308,000 in
income  tax  expense,  or  an  effective tax rate of 32.1%.  This is compared to
income  tax  expense  of  $228,000  for the same period of the prior year, or an
effective  tax  rate  of  28.8%. The increase in the effective rate is primarily
related  to  the  full  utilization of state net operating loss carryforwards in
early  2000  and  adjustments  to  the  TEFRA  interest disallowance on tax-free
municipal  investments.


LIQUIDITY
     Liquidity  management  involves  meeting  the cash flow requirements of the
Company  both at the holding company level as well as the subsidiary level.  The
Company's  bank subsidiary must maintain an adequate liquidity position in order
to  respond  to  the  short-term demand for funds caused by the withdrawals from
deposit  accounts, maturities of short-term borrowings, extensions of credit and
for  the  payment  of  operating  expenses.  Maintaining  an  adequate  level of
liquidity  is  accomplished  through a combination of liquid assets (those which
can  easily  be  converted into cash) and access to additional sources of funds.
The  Company's  primary liquid assets are cash and due from banks, federal funds
sold,  unpledged  investment  securities  available  for  sale, other short-term
investments  and  maturing loans.  These primary liquidity sources accounted for
13%  and  11%  of average assets for the three month period ended March 31, 2000
and 1999, respectively.  In management's opinion, the Company maintains adequate
levels  of  liquidity  by retaining liquid assets and assets which can easily be
converted  into cash and by maintaining access to various sources of funds.  The
primary  sources  of  funds available through the Bank include advances from the
Federal  Home  Loan  Bank,  purchasing  federal  funds  from  other  financial
institutions,  lines  of credit through the Federal Reserve Bank, and increasing
deposits  by  raising  rates  paid.  At  March  31,  2000,  the  Company  had
approximately  $30  million in available credit under its FHLB and correspondent
bank  borrowing  facilities.

     Summit  Financial  Corporation  ("Summit  Financial"),  the  parent holding
company,  has  limited  liquidity needs.  Summit Financial requires liquidity to
pay  limited  operating expenses, to service its debt, and to provide funding to
its  consumer  finance  subsidiary,  Freedom  Finance.  Summit  Financial  has
approximately  $2.5  million  in  available liquidity remaining from its initial
public  offering  and  the  retention  of  earnings.  Substantially  all of this
liquidity was advanced to the Finance Company to fund its operations as of March
31,  2000.  In  addition,  Summit  Financial  has  an  available  line of credit
totaling  $2.5  million with an unaffiliated financial institution, all of which
was  available  at  March  31, 2000.  Additional sources of liquidity for Summit
Financial include unsecured borrowings from individuals, and management fees and
debt  service  which  are  paid  by  its  subsidiaries.

     Liquidity  needs  of  Freedom  Finance,  primarily  for the funding of loan
originations,  acquisitions,  and  operating  expenses,  have  been  met to date
through  the  initial  capital  investment of $500,000 made by Summit Financial,
borrowings  from  an  unrelated  private investor, and line of credit facilities
provided  by  Summit  Financial  and  Summit  National Bank, its sister company.

     The  Company's  management  believes  its liquidity sources are adequate to
meet  its  operating  needs  and  does  not  know  of  any  trends,  events  or
uncertainties  that  may result in a significant adverse affect on the Company's
liquidity  position.


CAPITAL  RESOURCES
     Total  shareholders'  equity at March 31, 2000 was $18.6 million or 9.3% of
total  assets.  This  is  compared  to  $16.1 million or 9.5% of total assets at
March  31,  1999.  The  $2.5  million  increase  in  total  shareholders' equity
resulted principally from the retention of earnings and stock issued pursuant to
the  Company's  incentive  stock  option plan, offset by increases in unrealized
loss  on  investments  available  for  sale.

     Book  value  per  share  at  March  31,  2000 and 1999 was $5.47 and $5.03,
respectively.  Tangible  book  value  per  share  at March 31, 2000 and 1999 was
$5.34  and  $4.84,  respectively.  Tangible book value was below book value as a
result  of  the purchase premiums associated with branch acquisitions of Freedom
Finance  which  were  accounted  for  as  purchases.

     To  date,  the  capital  needs  of  the  Company  have been met through the
retention  of net income and from the proceeds of its initial offering of common
stock.  The  Company  has  no commitments or immediate plans for any significant
capital  expenditures  outside  the  normal  course  of business.  The Company's
management  does not know of any trends, events or uncertainties that may result
in  the  Company's  capital  resources  materially  increasing  or  decreasing.

     The  Company  and  the  Bank  are  subject  to  various  regulatory capital
requirements  administered  by  the  federal  banking agencies.  Failure to meet
minimum  capital  requirements  can  initiate  certain  mandatory  and  possibly
additional discretionary actions by regulators that, if undertaken, could have a
material  effect on the financial statements.  Under capital adequacy guidelines
and  the  regulatory framework for prompt corrective action, the Company and the
Bank must meet specific capital guidelines that involve quantitative measures of
the  Company's  and the Bank's assets, liabilities and certain off-balance sheet
items  as  calculated  under regulatory accounting practices.  The Company's and
the  Bank's  capital  amounts and classification are also subject to qualitative
judgments  by  the  regulators  about  components,  risk  weightings,  and other
factors.

     The  Company  and  the  Bank  are  required to maintain minimum amounts and
ratios  of total risk-based capital, Tier 1 capital, and Tier 1 leverage capital
as set forth in the table following.  Management believes, as of March 31, 2000,
that  the  Company  and the Bank meet all capital adequacy requirements to which
they are subject.  At March 31, 2000 and 1999, the Bank was categorized as "well
capitalized" under the regulatory framework for prompt corrective action.  There
are  no  current  conditions or events that management believes would change the
Company's  or  the  Bank's  category.

     The  following  table  presents the Company's and the Bank's actual capital
amounts  (dollars in thousands) and ratios at March 31, 2000 and 1999 as well as
the  minimum  calculated  amounts  for  each  regulatory  defined  category.

<TABLE>
<CAPTION>

                              RISK-BASED CAPITAL CALCULATION

                                                          FOR CAPITAL
                                                            ADEQUACY     TO BE CATEGORIZED
                                             ACTUAL         PURPOSES    "WELL-CAPITALIZED"
                                       ----------------  --------------   ----------------
                                        AMOUNT   RATIO   AMOUNT   RATIO   AMOUNT   RATIO
                                        -------  ------  -------  ------  -------  ------
<S>                                     <C>      <C>     <C>      <C>     <C>      <C>
AS OF MARCH 31, 2000
THE COMPANY
Total capital to risk-weighted assets   $21,186  13.09%  $12,946   8.00%  N.A.
Tier 1 capital to risk-weighted assets  $19,163  11.84%  $ 6,473   4.00%  N.A.
Tier 1 capital to average assets        $19,163  10.04%  $ 7,634   4.00%  N.A.

THE BANK
Total capital to risk-weighted assets   $18,570  11.67%  $12,730   8.00%  $15,913  10.00%
Tier 1 capital to risk-weighted assets  $16,588  10.42%  $ 6,365   4.00%  $ 9,548   6.00%
Tier 1 capital to average assets        $16,588   8.81%  $ 7,534   4.00%  $ 9,417   5.00%

AS OF MARCH 31, 1999
THE COMPANY
Total capital to risk-weighted assets   $18,718  13.45%  $11,134   8.00%  N.A.
Tier 1 capital to risk-weighted assets  $16,978  12.20%  $ 5,567   4.00%  N.A.
Tier 1 capital to average assets        $16,978  10.09%  $ 6,733   4.00%  N.A.

THE BANK
Total capital to risk-weighted assets   $15,926  11.64%  $10,943   8.00%  $13,679  10.00%
Tier 1 capital to risk-weighted assets  $14,218  10.39%  $ 5,472   4.00%  $ 8,207   6.00%
Tier 1 capital to average assets        $14,218   8.56%  $ 6,643   4.00%  $ 8,304   5.00%

</TABLE>

ACCOUNTING,  REPORTING  AND  REGULATORY  MATTERS
     In  June  1998,  the  Financial  Accounting Standards Board ("FASB") issued
Statement  of  Financial  Accounting  Standards  ("SFAS")  133,  "Accounting for
Derivative  Instruments  and Hedging Activities."  SFAS 133 changes the previous
accounting definition of a derivative and discusses the appropriateness of hedge
accounting  for  various  forms of hedging activities.  Under this standard, all
derivatives  are  measured  at  fair  value  and  recognized in the statement of
financial  position as assets or liabilities.  This standard, as amended by SFAS
137,  is  effective  for  all  fiscal quarters of years beginning after June 15,
2000,  with  earlier  adoption  permitted.  Management does not expect that this
standard  will  have  a  significant  effect  on  the  Company.




<PAGE>
EFFECT  OF  INFLATION  AND  CHANGING  PRICES
     The consolidated financial statements have been prepared in accordance with
generally  accepted  accounting  principles  which  require  the  measurement of
financial  position  and  results  of operations in terms of historical dollars,
without  consideration of changes in the relative purchasing power over time due
to  inflation.

     The  yield  on  a  majority  of  the  Company's  earning  assets  adjusts
simultaneously  with  changes in the general level of interest rates.  Given the
Company's  asset-sensitive  balance  sheet  position, assets reprice faster than
liabilities,  which generally results in increases in net interest income during
periods  of rising interest rates, as experienced in the latter half of 1999 and
into  2000.  This  may  cause  an  increase in the net interest margin until the
fixed rate deposits mature and are repriced at higher current market rates, thus
narrowing  the  difference between what the Company earns on its assets and what
it  pays  on  its  liabilities.  The opposite effect (that is, a decrease in net
interest  income)  is  generally  realized in a declining rate environment.  The
degree  of interest rate sensitivity of the Company's assets and liabilities and
the  differences  in  timing  of  repricing  assets  and liabilities provides an
indication  of  the  extent  to  which  the Company's net interest income may be
affected  by  interest  rate  movements.

INTEREST  RATE  SENSITIVITY
     Achieving  consistent  growth  in net interest income, which is affected by
fluctuations  in  interest  rates,  is  the  primary  goal  of  the  Company's
asset/liability  function.  The  Company  attempts  to  control  the  mix  and
maturities  of  assets  and liabilities to maintain a reasonable balance between
exposure  to  interest  rate fluctuations and earnings and to achieve consistent
growth in net interest income, while maintaining adequate liquidity and capital.
A  sudden  and  substantial  increase in interest rates may adversely impact the
Company's  earnings  to  the  extent that the interest rates on interest-earning
assets  and interest-bearing liabilities do not change at the same speed, to the
same  extent  or  on  the  same  basis.  The  Company's  asset/liability  mix is
sufficiently  balanced  so  that  the  effect of interest rates moving in either
direction  is  not  expected  to  be  significant  over  time.

     The  Company's  Asset/Liability Committee ("ALCO") uses a simulation model,
among other techniques, to assist in achieving consistent growth in net interest
income  while managing interest rate risk.  The model takes into account, over a
12 month period or longer if necessary, interest rate changes as well as changes
in  the  mix  and  volume  of  assets  and liabilities.  The model simulates the
Company's  balance  sheet  and  income  statement  under  several different rate
scenarios  and  rate  shocks.  The  model's  inputs  (such as interest rates and
levels  of  loans  and deposits) are updated as necessary throughout the year in
order  to  maintain  a current forecast as assumptions change.  According to the
model,  the  Company  is  presently  positioned so that net interest income will
increase  slightly  if  interest  rates  rise in the near term and will decrease
slightly  if  interest  rates  decline  in  the  near  term.

     The Company also uses interest rate sensitivity gap analysis to monitor the
relationship  between  the maturity and repricing of its interest-earning assets
and  interest-bearing  liabilities.  Interest rate sensitivity gap is defined as
the  difference  between  the  amount  of  interest-earning  assets  maturing or
repricing  within  a  specific  time  period  and the amount of interest-bearing
liabilities  maturing  or  repricing  within  the  same time period.  The static
interest  sensitivity  gap  position,  while  not a complete measure of interest
sensitivity, is also reviewed periodically to provide insights related to static
repricing  structure  of  assets  and  liabilities.  At  March  31,  2000,  on a
cumulative  basis  through  12  months,  rate-sensitive  liabilities  exceed
rate-sensitive  assets,  resulting  in  a  12  month  period liability sensitive
position  of  $21.7  million.  When  the  effective change ratio (the historical
relative  movement  of  each  asset's and liability's rates in relation to a 100
basis  point  change in the prime rate) is applied to the interest gap position,
the  Company  is  actually in an asset sensitive position over a 12 month period
and the entire repricing lives of the assets and liabilities.  This is primarily
due  to  the  fact  that  over  60% of the loan portfolio moves immediately on a
one-to-one  ratio with a change in the prime rate, while the deposit accounts do
not  increase  or  decrease  as  much  relative  to  a  prime  rate  movement.

     The  Company's  asset  sensitive  position means that assets reprice faster
than  the  liabilities, which generally results in increases in the net interest
income  during periods of rising rates and decreases in net interest income when
market  rates  decline.  The Company's net interest margin increased between the
first  quarter  of  1999  and  2000 primarily as a result of the general rise in
interest  rates  during  the  period.


       ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Market  risk  is the risk of loss from adverse changes in market prices and
rates.  The  Company's  market  risk  arises principally from interest rate risk
inherent  in its lending, deposit and borrowing activities.  Management actively
monitors  and  manages  its  interest  rate risk exposure.  Although the Company
manages  other  risks,  as  in  credit quality and liquidity risk, in the normal
course  of  business,  management  considers  interest  rate risk to be its most
significant  market  risk  and  it  could  potentially have the largest material
effect  on  the  Company's financial condition and results of operations.  Other
types of market risks, such as foreign currency exchange rate risk and commodity
price  risk,  do  not  arise  in  the  normal  course  of the Company's business
activities.

     The  Bank's  ALCO  monitors  and considers methods of managing the rate and
sensitivity repricing characteristics of the balance sheet components consistent
with maintaining acceptable levels of changes in net portfolio value ("NPV") and
net  interest  income.  Net  portfolio  value  represents  the  market  value of
portfolio  equity  and  is  equal to the market value of assets minus the market
value  of  liabilities, with adjustments made for off-balance sheet items over a
range  of  assumed  changes  in market interest rates.  A primary purpose of the
Company's  asset  and  liability  management  is to manage interest rate risk to
effectively  invest  the  Company's capital and to preserve the value created by
its  core business operations.  As such, certain management monitoring processes
are  designed to minimize the impact of sudden and sustained changes in interest
rates  on  NPV  and  net  interest  income.

     The  Company's  exposure  to  interest  rate risk is reviewed on a periodic
basis  by  the  Board  of  Directors  and  the  ALCO  which  is charged with the
responsibility  to maintain the level of sensitivity of the Bank's net portfolio
value  within  Board  approved  limits.  Interest rate risk exposure is measured
using  interest  rate sensitivity analysis by computing estimated changes in NPV
of  its  cash flows from assets, liabilities, and off-balance sheet items in the
event  of  a  range  of assumed changes in market interest rates.  This analysis
assesses the risk of loss in market risk sensitive instruments in the event of a
sudden  and  sustained 100 - 300 basis points increase or decrease in the market
interest rates.  The Board of Directors has adopted an interest rate risk policy
which  establishes  maximum  allowable decreases in NPV in the event of a sudden
and  sustained  increase  or  decrease  in  market  interest  rates.

     As  of  March  31,  2000, there was no substantial change from the interest
rate  sensitivity  analysis  or the market value of portfolio equity for various
changes  in  interest  rates  calculated as of December 31, 1999.  The foregoing
disclosures  related  to  the  market  risk  of  the  Company  should be read in
conjunction  with  the  Company's  audited  consolidated  financial  statements,
related  notes  and  management's discussion and analysis of financial condition
and  results  of operations for the year ended December 31, 1999 included in the
Company's  1999  Annual  Report  on  Form  10-K.




<PAGE>

        SUMMIT FINANCIAL CORPORATION

     PART  II.  OTHER  INFORMATION



Item  1.     Legal  Proceedings.

The  Corporation  and  its  subsidiaries  from  time  to time may be involved as
plaintiff or defendant in various legal actions incident to its business.  There
are  no  material  actions  currently  pending.

Item  2.     Changes  in  Securities.

     None.

Item  3.     Defaults  Upon  Senior  Securities.

     None.

Item  4.     Submission  of  Matters  to  a  Vote  of  Security  Holders.

No  matters were submitted to the shareholders for a vote at any time during the
quarter.

Item  5.     Other  Information.

     None.

Item  6.     Exhibits  and  Reports  on  Form  8-K.

(a)     Exhibits:

     27.1  Financial  Data  Schedule

     (b)     Reports  on  Form  8-K:

None.

SUMMIT  FINANCIAL  CORPORATION

     SIGNATURES



Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.

SUMMIT  FINANCIAL  CORPORATION


Dated:  May  4,  2000

/s/  J.  Randolph  Potter
-------------------------
J.  Randolph  Potter,  President
and  Chief  Executive  Officer


Dated:  May  4,  2000

/s/  Blaise  B.  Bettendorf
---------------------------
Blaise  B.  Bettendorf,  Senior  Vice  President
and  Chief  Financial  Officer