On December 22, 2016, George W. Pace notified Summit Financial Group, Inc. that he intended to retire from the Company’s Board and would not stand for re-election as a director of the Company at the end of his term in May, 2017. Mr. Pace serves as the Chair of the Company’s Audit and Compliance Committee and serves as a member the Compensation and Nominating Committee and the Asset/Liability and Funds Management Committee. On December 22, 2016, the Company’s Board of Directors increased the size of the Board to 17 members and appointed John B. Gianola to serve on the Board to fill the vacancy created by that action. Mr. Gianola was also appointed to serve on the Board of Directors of Summit Community Bank, Inc., the Company’s wholly owned subsidiary bank. The appointment was effective immediately. Mr. Gianola retired in 2013 as a managing partner of the Charleston, West Virginia office of Ernst & Young LLP. Mr. Gianola will serve on the Company’s Audit and Compliance Committee, Compensation and Nominating Committee and the Asset/Liability and Funds Management Committee.