4/23/21
MVB Bank, Inc., a wholly-owned
subsidiary of MVB Financial Corp. (NASDAQ: MVBF), announced today the signing of a definitive agreement under which
Summit Community Bank, Inc., a subsidiary of
Summit Financial Group, Inc. (NASDAQ: SMMF), will acquire substantially all of MVB Bank’s Southern West Virginia community banking operations, including its full service banking centers located at: 400 Washington Street East, Charleston; 3754 Teays Valley Road, Hurricane; 660 Central Avenue, Barboursville; and 999 4th Avenue, Huntington. In addition, Summit will acquire MVB Bank’s drive-up banking locations at 6441 Farmdale Road, Barboursville, and 940 5th Avenue, Huntington. In conjunction with the transaction, Summit will assume certain deposits and loans whose balances currently approximate $193 million and $57 million, respectively.
MVB Bank to Sell Four Banking Centers to Summit Community Bank
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MVB Bank to Sell Four Banking Centers to Summit Community Bank
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