secwatch.observer — SEC 8-K summary
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Issuer:     SUMMIT FINANCIAL GROUP, INC. (—)
CIK:        0000811808
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001437749-23-009059
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Financial completes PSB Holding acquisition; exchange ratio 1.2347 shares per PSB share
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- Each PSB share converted into 1.2347 Summit common shares; options cashed out using $35 reference price.
- David R. Wilson Sr. appointed to Summit and Summit Community Bank boards effective April 1, 2023.
- Board size increased to 15; Wilson receives same director compensation as other non-employee directors.
- Provident State Bank branches to operate under current name through late-September 2023, then rebrand to Summit Community Bank.
- No material relationships between Summit and PSB (or its affiliates) other than the merger agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811808/000143774923009059/0001437749-23-009059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811808/000143774923009059/smmf20230403_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-009059

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