Brief: Summit Financial Group To Acquire PSB Holding

Summit Financial

12/12/2022 14:06

Dec 12 (Reuters) - Summit Financial Group Inc  SMMF.O :
    * SUMMIT FINANCIAL GROUP, INC. TO ACQUIRE PSB HOLDING CORP.
AND
ITS BANK SUBSIDIARY, PROVIDENT STATE BANK, INC.
    * SUMMIT FINANCIAL GROUP INC- PSB SHAREHOLDERS WILL RECEIVE
1.2347
SHARES OF SUMMIT COMMON STOCK FOR EACH OUTSTANDING SHARE OF PSB
COMMON STOCK
    * SUMMIT FINANCIAL GROUP INC- TRANSACTION VALUE OF ABOUT
$53.9
MILLION
    * SUMMIT FINANCIAL GROUP - AS OF SEPT 30, COMBINED CO WOULD
HAVE
HAD ABOUT TOTAL ASSETS OF $4.5 BILLION, GROSS LOANS OF $3.5
BILLION AND DEPOSITS OF $3.6 BILLION

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Further company coverage:  SMMF.O 
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