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West Virginia-based Summit Financial Group issues additional preferred shares

  • Posted 05/3/2021
  • Jennifer Lian
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Moorefield, W.Va.-based Summit Financial Group Inc. sold in a private placement an additional $5.3 million, or 530 shares, of its 6.0% fixed-rate series 2021 noncumulative perpetual preferred stock. The company initially issued 970 shares of the new series of preferred stock on April 15 and extended the offering period until April 30. Due to higher demand for the preferred shares, the company CONTINUE READING >>

MVB Bank to Sell Four Banking Centers to Summit Community Bank

  • Posted 04/23/2021
  • Jennifer Lian
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FAIRMONT, W.Va.–(BUSINESS WIRE)–MVB Bank, Inc., a wholly-owned subsidiary of MVB Financial Corp. (“MVB” “MVB Financial”) (NASDAQ: MVBF), announced today the signing of a definitive agreement under which Summit Community Bank, Inc., a subsidiary of Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF), will acquire substantially all of MVB Bank’s Southern West Virginia community banking operations, including its full service banking centers CONTINUE READING >>

Colony Bankcorp and SouthCrest Financial Group to Combine in Transformational Merger

  • Posted 04/22/2021
  • Jennifer Lian
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FITZGERALD, Ga & ATLANTA–(BUSINESS WIRE)–Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or “the Company”), the holding company for Colony Bank, and SouthCrest Financial Group, Inc. (PK: SCSG) (“SouthCrest”), the holding company for SouthCrest Bank, N.A., today jointly announced the signing of an Agreement and Plan of Merger under which Colony has agreed to acquire 100% of the common stock of SouthCrest CONTINUE READING >>

West Virginia-based Summit Financial Group issues preferred shares

  • Posted 04/16/2021
  • Jennifer Lian
  • No comments

Moorefield, W.Va.-based Summit Financial Group Inc. sold in a private placement $9.7 million of its 6.0% fixed-rate series 2021 noncumulative perpetual preferred stock. Pursuant to the terms of the private placement, Summit Financial Group issued 970 shares of the new series of preferred stock on April 15. The company extended the offering period until April 30 and may sell the remaining 230 CONTINUE READING >>