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Cornerstone Bank
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Summary
location iconWest Union, West Virginia
company sizeCompany size: 201-500

Summit Financial Group, Inc. acquired Cornerstone Bank. Summit Financial Group, Inc. is a $2.1 billion financial holding company headquartered in Moorefield, West Virginia. Summit provides community banking services primarily in the Eastern Panhandle and Southern regions of West Virginia and the Northern, Shenandoah Valley and Southwestern regions of Virginia, through its bank subsidiary, Summit Community Bank, Inc., which now operates thirty banking locations. Deeply rooted in the communities it serves, Summit is committed to providing exceptional financial services and customer care while maintaining the traditional values that are important to the clients.

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Commercial Banks
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Cornerstone Bank - Recent News & Articles

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May 4, 2024
Private equity firms step up plans to edge banks out of low-risk lending

Private equity firms including Apollo Global, KKR, Blackstone and Brookfield are accelerating efforts to make low-risk loans, encroaching on territory...

Apr 27, 2024
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Republic First is seized, assets sold to Fulton Bank

The first bank failure of 2024 punctuates the discord that has brewed at Republic First for more than two years. Fulton, meanwhile, will double its Ph...

Source: BankingDive
Apr 27, 2024
Fed courts nonbanks for FedNow growth

The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow. The...

Apr 12, 2024
How FedNow is Shaping Payments Since its Groundbreaking Launch

In the six months following its groundbreaking launch in July 2023, FedNow has emerged as a transformative force in real-time payments, marking a sign...

Source: Finextra
Apr 5, 2024
Bank deposits are back above pre-SVB levels. Regional lenders still have problems.

Banks have now regained all deposits they lost following the collapse of Silicon Valley Bank. But that doesn't solve many of the problems still faced ...

Source: Yahoo
Mar 13, 2024
Visualizing Major U.S. Banks by Commercial Real Estate Exposure

The six largest U.S. banks saw delinquent commercial property loans nearly triple to $9.3 billion in 2023 amid high vacancy rates and increasing borro...

Mar 13, 2024
Goldman Sachs Aims for $300 Billion Private Credit Portfolio

Goldman Sachs Asset Management is reportedly planning a major expansion of its private credit portfolio. The Wall Street giant aims to grow that portf...

Source: PYMNTS
Mar 11, 2024
Powell warns commercial real estate woes will lead to bank failures: ‘This is a problem that we’ll be working on for years’

Federal Reserve Chair Jerome Powell joined a chorus of US officials who have argued that mounting bad commercial real estate loans will likely cause s...

Source: Fortune
Mar 7, 2024
Why private equity has been involved in every recent bank deal

The $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a...

Source: CNBC
Feb 16, 2024
Hindenburg’s latest short target Temenos rejects allegations as share price tumbles

Temenos shares were down over 6% on Friday after closing over 28% lower on Thursday. The Swiss software company said its board of directors “fundament...

Source: CNBC