M&A Deal Summary

Burke & Herbert Financial Services Acquires Summit Financial Group

On May 3, 2024, Burke & Herbert Financial Services acquired financial services company Summit Financial Group

Acquisition Highlights
  • This is Burke & Herbert Financial Services’ 1st transaction in the Financial Services sector.
  • This is Burke & Herbert Financial Services’ 1st transaction in the United States.
  • This is Burke & Herbert Financial Services’ 1st transaction in West Virginia.

M&A Deal Summary
Date 2024-05-03
Target Summit Financial Group
Sector Financial Services
Buyer(s) Burke & Herbert Financial Services
Deal Type Merger

Target

Summit Financial Group

Moorefield, West Virginia, United States
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.

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Buyer(S) 1

Buyer

Burke & Herbert Financial Services

Alexandria, Virginia, United States
Category Company
Founded 1852
Sector Financial Services
Employees381
Revenue 111M USD (2023)
DESCRIPTION

Burke & Herbert Financial Services operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit. Burke & Herbert Financial Services was founded in 1852 and is based in Alexandria, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
State (West Virginia) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Mergr

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