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Summit Financial Group, Inc. - $SMMF STOCK NEWS

Welcome to our dedicated page for Summit Financial Group news (Ticker: $SMMF), a resource for investors and traders seeking the latest updates and insights on Summit Financial Group stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Summit Financial Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Summit Financial Group's position in the market.

Rhea-AI Summary
Summit Financial Group, Inc. reports strong Q3 2023 financial results, with net income of $16.1 million. The company highlights robust core operating performance and a marked growth in core deposits. They also announce a merger with Burke & Herbert Financial Services Corp., positioning them for substantial opportunities in 2024 and beyond.
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Rhea-AI Summary
Burke & Herbert Financial Services Corp. and Summit Financial Group submit regulatory filings for their merger agreement, expected to close in Q1 2024.
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Rhea-AI Summary
Summit Financial Group, Inc. declares a Q3 2023 dividend of $0.22 per share, a 10% increase from Q2 2023.
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Rhea-AI Summary
Burke & Herbert Financial Services Corp. and Summit Financial Group, Inc. have entered into a definitive agreement for an all-stock merger of equals valued at approximately $371.5 million or $25.20 per share of Summit common stock. The merger will create a bank holding company with more than $8 billion in assets and a combined market capitalization of nearly $750 million. The transaction is expected to result in a combined earnings per share of approximately $7.90 in the first full year of combined operations. The combined company will have more than 75 branches across multiple states and establish a $5 million community foundation. The merger is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
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Summit Financial Group, Inc.

Nasdaq:SMMF

SMMF Rankings

SMMF Stock Data

377.45M
12.72M
11.87%
42.08%
0.42%
Commercial Banking
Finance and Insurance
Link
United States of America
MOOREFIELD

About SMMF

summit financial group, inc. is a financial holding company which provides community banking and insurance services . summit’s community banking operations consist of 15 banking offices located in the eastern panhandle and south central regions of west virginia and in the shenandoah valley and northern regions of virginia. summit financial group inc.’s affiliate entities are: summit community bank, a state chartered community bank , and summit insurance services, llc, a full lines insurance agency.