Summit Community Bank
- Company typePrivate
- Founded1883
- HeadquartersMoorefield, United States
- Headcount251–500
- GTM typeB2C
- OfferingServices
Summit Community Bank firmographics
Firmographics- Name
- Summit Community Bank
- Legal name
- Summit Community Bank, Inc.
- Website
- https://mysummit.bank
- Company type
- Private
- Founded year
- 1883
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Summit Community Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)
Keywords
Where Summit Community Bank is headquartered
LocationHeadquarters
- HQ city
- Moorefield
- HQ country
- United States
- HQ region
- North America
Markets served
Summit Community Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Distribution channels1 record
Summit Community Bank product offering
Product offeringCore offering
Summit Community Bank was a regional community bank that provided traditional banking products to individuals and small businesses, including deposit accounts (checking, savings) and consumer and commercial loan products. Services were delivered primarily through a physical branch network in West Virginia and, following the 2022 PSB Holding Corp transaction, in Maryland.
Differentiator
Problem solved
Functional benefit
Products and services
- Community Banking Services (Deposit Accounts and Loans)
Companies that use Summit Community Bank
Customer profileSegments2 records
Ideal customer profiles2 records
Summit Community Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Summit Community Bank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Burke & Herbert Bank & Trust CompanycoreSummit Community Bank, Inc. merged into Burke & Herbert Bank & Trust Company on May 3, 2024. Following the merger, Burke & Herbert Financial Services Corp. amended the Summit Community Bank Supplemental Executive Retirement Plan (SERP) and agreed to terminate the related executive retirement trust.
- PSB Holding CorpcoreSummit Financial Group, Inc. announced a definitive merger agreement with PSB Holding Corp. PSB shareholders will receive shares of Summit stock, valuing the deal at approximately $53.9 million. The merger integrates PSB's bank subsidiary, Provident State Bank, Inc., into Summit's operations, expanding regional reach.
Scale indicators2 records
Recent moves4 records
Expansion highlights4 records
Summit Community Bank competitors and assessment
Company assessmentDirect peers
- First United Corporation: Oakland, MD-based community bank holding company with branches across Maryland and West Virginia. Directly comparable given overlapping WV/MD geographic footprint and similar community banking customer segments.
- CNB Bank Inc. Pennsylvania-based community bank with West Virginia and Maryland operations. Comparable multi-state community bank offering retail and commercial banking products to small businesses and consumers.
- WesBanco Inc. West Virginia-headquartered multi-state bank holding company operating community banking branches across WV, OH, and PA. Closely comparable to Summit in geographic focus, community banking model, and small-business/consumer customer base.
- City National Bank of West Virginia: WV-based community bank providing retail and commercial banking across southern West Virginia. Comparable community banking model and West Virginia deposit base.
- Clear Mountain Bank: West Virginia-based community bank serving north-central WV with retail and commercial banking services. Comparable small community bank with traditional relationship-banking model and overlapping regional customer base.
- United Bank: Parkersburg, WV-based community bank operating across WV, VA, MD, and DC. Comparable regional community bank with similar branch-based distribution and small-business/consumer lending model.
- MVB Bank Corp. Fairmont, WV-based community bank with commercial, mortgage, and digital banking lines serving the Mid-Atlantic. Directly comparable community banking footprint and small-business target customer.
Regional players
- Premier Bank Inc. West Virginia-headquartered community bank focused on southern WV and adjacent Kentucky markets. Comparable community banking franchise with similar SMB/consumer customer orientation.
Others
- Summit Financial Group Inc. Former publicly traded parent entity of Summit Community Bank (separate from Burke & Herbert acquisition). Related party that pursued the PSB Holding acquisition in 2022; comparable as a West Virginia community banking holding company with similar institutional structure.
Broad incumbents
- Burke & Herbert Bank & Trust Company: Acquirer of Summit Community Bank in May 2024; a Virginia-based regional community bank offering commercial, retail, and treasury banking. Directly comparable as a community bank operating in the same regional Mid-Atlantic footprint with overlapping deposit and lending services.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
Summit Community Bank social profiles
Digital presenceSummit Community Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Summit Community Bank leadership team
Management profileNumber of profiles
Summit Community Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Summit Community Bank M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Summit Community Bank
What does Summit Community Bank do?
Summit Community Bank was a regional community bank that provided traditional banking products to individuals and small businesses, including deposit accounts (checking, savings) and consumer and commercial loan products. Services were delivered primarily through a physical branch network in West Virginia and, following the 2022 PSB Holding Corp transaction, in Maryland.
Is Summit Community Bank a public or private company?
Summit Community Bank is a private company. It is classified as corporate owned and is currently acquired.
When was Summit Community Bank founded?
Summit Community Bank was founded in 1883. It employs 251 to 500 people.
Where is Summit Community Bank based?
Summit Community Bank is headquartered in Moorefield, United States, in the North America region.
Who are Summit Community Bank's main competitors?
Direct peers on record are First United Corporation, CNB Bank Inc., WesBanco Inc., City National Bank of West Virginia, Clear Mountain Bank, United Bank and MVB Bank Corp.. Premier Bank Inc. is listed as a regional player. Summit Financial Group Inc. is listed as an others. Burke & Herbert Bank & Trust Company is listed as a broad incumbent.
Does Summit Community Bank have an API?
No public API is recorded for Summit Community Bank.
What industry is Summit Community Bank in?
Summit Community Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAEAF, Cooperative Banks (Member-Owned Commercial/Retail). Its NAICS code is 52211 and its SIC code is 6022.