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Summit Financial Group, Inc. Completes Its Acquisition of Highland County Bankshares, Inc. and Subsidiary, First and Citizens Bank

MOOREFIELD, W.Va., Oct. 03, 2016 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Summit”) (NASDAQ:SMMF) announces completion, effective October 1, 2016, of the acquisition by its subsidiary Summit Community Bank, Inc. of Highland County Bankshares, Inc. and its subsidiary, First and Citizens Bank, headquartered in Monterey, Virginia.

The former First and Citizens offices will continue to operate under that name until close of business on Friday, December 2, 2016, and will commence operating under the name Summit Community Bank on Monday, December 5, 2016.

As a result of the acquisition, Kyle E. Almond will join the Board of Directors of each of Summit and Summit Community Bank.

About the Company

Summit Financial Group, Inc. is a $1.7 billion financial holding company headquartered in Moorefield, West Virginia. Summit provides community banking services primarily in the Eastern Panhandle and South Central regions of West Virginia and the Northern and Shenandoah Valley regions of Virginia, through its bank subsidiary, Summit Community Bank, Inc., which now operates eighteen banking locations. Summit also operates Summit Insurance Services, LLC in Moorefield, West Virginia and Leesburg, Virginia.

Contact: Robert S. Tissue, Sr. Vice President & CFO Telephone: (304) 530-0552 Email: rtissue@summitfgi.com

Source:Summit Financial Group, Inc.