Summit Financial Group - M&A Summary and Business Overview

Financial ServicesCompany

Summit Financial Group M&A Summary

Summit Financial Group has acquired 7 companies, including 3 in the last 5 years. It has also divested 1 asset.

Summit Financial Group’s largest acquisition to date was in 2022, when it acquired PSB Holding for $54M. Summit Financial Group has acquired in 4 different US states. The Company’s most targeted sectors include financial services (86%) and insurance (15%).

Summit Financial Group Business Overview

Where is Summit Financial Group headquartered?

Summit Financial Group is headquartered in Moorefield, West Virginia.

What is Summit Financial Group’s revenue?

Summit Financial Group disclosed revenue of 144M USD for 2022 and 127M USD for 2021.

How many employees does Summit Financial Group have?

Summit Financial Group has 415 employees.

What sector is Summit Financial Group in?

Summit Financial Group is a financial services company.

When was Summit Financial Group founded?

Summit Financial Group was founded in 1987.

M&A Summary

  • M&A Total Activity8
    • M&A Buy Activity7
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 1
  • M&A Advisors 3

Summit Financial Group

Summit Financial Group, Inc.

300 North Main Street,
Moorefield, West Virginia 26836
United States,
(304) 530-1000
www.summitfgi.com

Summit Financial Group is a financial holding company that provides community banking services. Summit Financial Group was founded in 1987 and is based in Moorefield, West Virginia.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 5 1 - 1 - - 7
vol $119M $54M $173M
Sell (0.0/yr) # 1 - - - - - 1
  8

Most Recent M&A

Company Date Value Type
PSB Holding Corp. 2022-12-12 54M USD Merger
Preston, Maryland · www.providentstatebank.com
WinFirst Financial Corp. 2020-09-28 - Add-on Acquisition
Winchester, Kentucky · www.winfirstbank.com
Cornerstone Bank, Inc. 2019-09-17 29M USD Add-on Acquisition
West Union, West Virginia · www.cornerstonebankwv.com
Summit Insurance Services LLC 2019-05-07 - Divestiture
Leesburg, Virginia · www.summitinsuranceservices.com
Peoples Bankshares, Inc. 2018-07-24 26M USD Add-on Acquisition
Montross, Virginia · www.peoplescommunitybank.biz
First Century Bankshares, Inc. 2016-06-01 43M USD Add-on Acquisition
Bluefield, West Virginia · www.firstcentury.com
Highland County Bankshares, Inc. 2016-02-29 22M USD Merger
Monterey, Virginia
Summit Insurance Services LLC 2004-03-01 - Add-on Acquisition
Leesburg, Virginia · www.summitinsuranceservices.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 6 (86%) 173M (100%) - -
Insurance 1 (14%) - 1 (100%) -
Total 7 $173M 1 -

By Geo

State/Country Buy Value Sell Value
United States 7 173M 1 -
  Virginia 3 47M 1 -
  West Virginia 2 71M - -
  Maryland 1 54M - -
  Kentucky 1 - - -
Total 7 $173M 1 -

Top M&A Advisors

Legal Deals
Bowles Rice
 4
Hunton Andrews Kurth
 1
Hunton & Williams LLP
 1

Deal Values

buy # Total
< $100M 5 $173M
TOTAL $173M
Largest PSB Holding Corp.
$54M (2022-12-12)

M&A Connections

Deals
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Financial Services

Revenue

144   14% 2022
127   13% 2021
113   21% 2020
94   10% 2019
86   7% 2018
81   31% 2017
62   2016
(millions of USD) Show More Show Less

Employees

415

Established

1987

 Subscribe to unlock this and 208,055
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 201K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Related Lists for Summit Financial Group

West Virginia Companies , Financial Services Companies , United States Companies , West Virginia Financial Services Companies , West Virginia Financial Services with Acquisitions , West Virginia Financial Services with Divestitures

Related Lists for West Virginia Companies

Largest West Virginia Companies , Acquisitive West Virginia Companies , Recently Acquired West Virginia Companies , Recently Sold West Virginia Companies , Private West Virginia Companies , Public West Virginia Companies , Acquired West Virginia Companies , PE Backed West Virginia Companies

Related Lists for Financial Services Companies

Largest Financial Services Companies , Acquisitive Financial Services Companies , Recently Acquired Financial Services Companies , Recently Sold Financial Services Companies , Private Financial Services Companies , Public Financial Services Companies , Acquired Financial Services Companies , PE Backed Financial Services Companies

Related Lists for United States Companies

Largest United States Companies , Acquisitive United States Companies , Recently Acquired United States Companies , Recently Sold United States Companies , Private United States Companies , Public United States Companies , Acquired United States Companies , PE Backed United States Companies
Mergr

Product

Company

Legal