M&A Deal Summary

Summit Financial Group Acquires WinFirst Financial

On September 28, 2020, Summit Financial Group acquired financial services company WinFirst Financial

Acquisition Highlights
  • This is Summit Financial Group’s 5th transaction in the Financial Services sector.
  • This is Summit Financial Group’s 6th transaction in the United States.
  • This is Summit Financial Group’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2020-09-28
Target WinFirst Financial
Sector Financial Services
Buyer(s) Summit Financial Group
Deal Type Add-on Acquisition
Advisor(s) Piper Sandler & Co. (Financial)
Frost Brown Todd (Legal)

Target

WinFirst Financial

Winchester, Kentucky, United States
WinFirst Financial Corp. is a savings and loan holding company that operates two community banking offices in Winchester, Kentucky through its subsidiary, WinFirst Bank. Originally known as Winchester Federal Savings and Loan Association, WinFirst Bank was founded in 1934 to promote savings and homeownership.

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Buyer(S) 1

Buyer

Summit Financial Group

Moorefield, West Virginia, United States
Category Company
Founded 1987
Sector Financial Services
Employees415
Revenue 144M USD (2022)
DESCRIPTION

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.

DEAL STATS #
Overall 6 of 7
Sector (Financial Services) 5 of 6
Type (Add-on Acquisition) 5 of 5
State (Kentucky) 1 of 1
Country (United States) 6 of 7
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-17 Cornerstone Bank

West Union, West Virginia, United States

Cornerstone Bank, Inc. is a banking service provider. Cornerstone Bank, Inc. was founded in 1902 and is based in West Union, West Virginia.

Buy $29M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Provident State Bank

Preston, Maryland, United States

Provident State Bank is a full-service bank serving the eastern shore of Maryland that has ten branch locations in Preston, Federalsburg, Ridgely, Denton, Easton-Elliot Road, Easton-Harrison Street, Secretary, Cambridge, Salisbury, and Lewes (Delaware). Provident State Bank was founded in 1904 and is based in Preston, Maryland.

Buy $54M
Mergr

Product

Company

Legal