News

Summit Financial Group, Inc. Completes Its Acquisition of Cornerstone Financial Services, Inc. and Subsidiary, Cornerstone Bank, Inc.

  • Posted: 01/2/2020
  • Castle Creek
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MOOREFIELD, W.Va.–(GLOBE NEWSWIRE)–Summit Financial Group, Inc. (“Summit”) (NASDAQ: SMMF) announces completion, effective January 1, 2020, of the acquisition by its subsidiary Summit Community Bank, Inc. of Cornerstone Financial Services, Inc. and its subsidiary, Cornerstone Bank, Inc., headquartered in West Union, West Virginia. The former Cornerstone Bank, Inc. offices will continue to operate under that name until close of business on CONTINUE READING >>

Bank of Southern California Completes Capital Offering and Plans to Form Holding Company

  • Posted: 12/16/2019
  • Castle Creek
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SAN DIEGO, Calif.–(PRNewswire)–Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the successful completion of a capital raise of approximately $12 million through the issuance of common stock in a private placement to institutional and accredited individual investors at a price of $12.00 per share. The Bank also announced its plans CONTINUE READING >>

The Bancorp Freed from Fed Order Tied to Capital Management

  • Posted: 12/11/2019
  • Castle Creek
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Copyright © 2019, American Banker by Paul Davis The Bancorp in Wilmington, Del., received some positive news heading into the new year. The $4.9 billion-asset company disclosed in a regulatory filing Wednesday that a May 2015 supervisory letter from the Federal Reserve had been terminated. The letter had required the company to obtain Fed approval before paying dividends on common CONTINUE READING >>

MVB Bank to Sell Four WV Eastern Panhandle Banking Centers to Summit Community Bank

  • Posted: 11/22/2019
  • Castle Creek
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FAIRMONT, W.Va.–(GLOBE NEWSWIRE)–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 three MVB Bank locations in Berkeley County (651 Foxcroft Ave., Martinsburg; 231 Aikens Center, Martinsburg; and 5091 CONTINUE READING >>