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New signage outside of Summit Community Bank located along 10th Street in 2021 in downtown Huntington.

MOOREFIELD, W.Va. — Summit Financial Group has signed a definitive agreement to buy PSB Holding and its subsidiary Provident State Bank in a deal valued at $53.9 million.

Under the terms of the all-stock transaction, PSB shareholders will be entitled to receive 1.2347 shares of Summit common stock for each outstanding share of PSB common stock.

Fred has been in the newspaper industry for 30+ years. He continues to be excited to bring readers news that only comes thru local journalism. “Being able to share the passion felt by entrepreneurs in our community with readers is exciting,” he said.

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