UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 20, 2002
Summit Financial Group, Inc.
(Exact name of registrant as specified in its charter)
West Virginia 0-16587 55-0672148
(State or Other (Commission (I.R.S. Employer
Jurisdiction) File Number) Identification)
223 North Main Street, Moorefield, WV, 26836
(Address of principal executive offices) (Zip Code)
(304) 538-1000
(Registrant's telephone number, including area code)
Not Applicable
(Former name, address, and fiscal year, if changed since last report)
Item 5. Other Events
On May 20, 2002, Summit Financial Group, Inc. ("Summit") and Monroe Financial,
Inc. ("Monroe") issued a News Release announcing that they mutually have agreed
to terminate their plan to affiliate announced April 26, 2002, whereby Summit
was to acquire Monroe and its wholly owned subsidiary, Bank of Greenville. The
reason for termination was the receipt by Monroe of an unsolicited competing
offer.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99.1 News Release, dated May 20, 2002 incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SUMMIT FINANCIAL GROUP, INC.
Date: May 30, 2002 By: /s/ Robert S. Tissue
Robert S. Tissue
Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 News Release, dated May 20, 2002 incorporated
herein by reference.
Exhibit 99.1
[SUMMIT LOGO]
FOR IMMEDIATE RELEASE
May 20, 2002
Contacts: Joe L. Ellison - President & CEO, Monroe Financial, Inc. and
Bank of Greenville Phone: (304) 832-6265;
Email: joeellison@bankofgreenville.com
Robert S. Tissue - Sr. Vice President & CFO, Summit Financial
Group, Inc. Phone: (304) 538-7233, Email: rtissue@summitfgi.com
SUMMIT FINANCIAL GROUP, INC. AND MONROE FINANCIAL, INC. AGREE TO TERMINATE PLAN
TO AFFILIATE
SUMMIT FINANCIAL GROUP, INC. (OTCBB: SMMF) and MONROE FINANCIAL, INC. today
announced that they mutually have agreed to terminate their plan to affiliate
announced April 26, 2002 whereby Summit was to acquire Monroe and its wholly
owned subsidiary, Bank of Greenville. The reason for termination was the receipt
by Monroe of an unsolicited competing offer.
Summit Financial Group, Inc. is a financial holding company with total
assets of $603 million. Summit operates eleven banking locations through its
three wholly owned subsidiary banks, Summit Community Bank headquartered in
Moorefield, West Virginia, Capital State Bank, Inc. in Charleston, West
Virginia, and Shenandoah Valley National Bank in Winchester, Virginia.
Monroe Financial, Inc. is a bank holding company with total assets of $30
million, and operates three full service banking offices through its wholly
owned subsidiary, Bank of Greenville headquartered in Greenville, West Virginia.