Moorefield, W.Va.-based Summit Financial Group Inc. sold in a private placement $9.7 million of its 6.0% fixed-rate series 2021 noncumulative perpetual preferred stock.
Pursuant to the terms of the private placement, Summit Financial Group issued 970 shares of the new series of preferred stock on April 15. The company extended the offering period until April 30 and may sell the remaining 230 unsold preferred shares in a subsequent closing to take place no later than April 30.
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