Summit Financial Group, Inc. to Acquire WinFirst Financial Corp. and Subsidiary, WinFirst Bank - Seite 2

Piper Sandler & Co. served as financial advisor to WinFirst, and Frost Brown Todd LLC served as its legal counsel. Bowles Rice LLP provided legal counsel to Summit.

About Summit
Summit Financial Group, Inc. is a $2.86 billion financial holding company headquartered in Moorefield, West Virginia. Summit provides community banking services primarily in the Eastern Panhandle, Southern and North Central regions of West Virginia and the Northern, Shenandoah Valley and Southwestern regions of Virginia, through its bank subsidiary, Summit Community Bank, Inc., which operates 41 banking locations.

About WinFirst
WinFirst, a savings and loan holding company reported approximately $152 million in assets as of June 30, 2020 and operates two community banking offices in Winchester, Kentucky through its subsidiary, WinFirst Bank. Originally known as Winchester Federal Savings and Loan Association, WinFirst Bank was founded in 1934 to promote savings and home ownership. This community bank has grown into a strong and stable full-service community bank that has stayed true to its local roots. Three generations of the McCready family have been instrumental in the management and ownership of the bank.

Contacts

With respect to WinFirst

Kari R. Gough, President and CEO, WinFirst Bank
Phone: [phone]
Email: [e-mail]

With respect to Summit

Robert S. Tissue, Executive Vice President & CFO
Phone: [phone]
Email: [e-mail]

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) the benefits of a merger between WinFirst Financial Corp. (“WinFirst”) and Summit Financial Group, Inc. (“Summit”), including future financial and operating results, cost savings enhancements to revenue and accretion to reported earnings that may be realized from the merger; (ii) Summit’s and WinFirst’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (iii) other statements identified by words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective managements of Summit and WinFirst and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of WinFirst and Summit. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.