With ongoing climate change, episodes of severe flooding are predicted to become more frequent despite a general trend towards increasing summer drought. We investigated how wood growth of adult trees of two species characteristic of floodplain forests in Central Germany (Fraxinus excelsior L., Quercus robur L.) and two less-typical species (Acer pseudoplatanus L., Carpinus betulus L.) responded to both maximum stream water level and climate, with a special focus on the effects of the extraordinary flood of the Saale River in June 2013 and the extreme drought in summer 1976. Tree-ring widths were measured on wood cores, and standardized ARSTAN tree-ring chronologies were produced. Using variance partitioning as well as linear mixed-effects models, we compared the effects of monthly values for maximum water level, temperature and precipitation sum on tree-ring width. Further, we calculated resistance, resilience and recovery of the tree species to the extreme events of flooding in 2013 and drought in 1976. Wood growth of all species studied, and particularly of F. excelsior, responded positively to the extraordinary flooding in June 2013. However, in the best models for the characteristic floodplain forest species (F. excelsior and Q. robur), mainly precipitation (F. excelsior) or a combination of precipitation and wood growth of the previous year (Q. robur) acted as drivers of wood growth of the current year. In contrast, growth of the less habitat-specific species (A. pseudoplatanus) mainly showed a significant response to the combination of temperature and wood growth of the previous year. C. betulus was the only species studied that benefited from the extreme drought in 1976. However, two years afterwards, only the wood growth of A. pseudoplatanus was still reduced, while F. excelsior and Q. robur fully recovered. In comparison to other regions in Central Europe, the moderate flood regime of the Saale River seems to have the potential to mitigate effects of summer drought in this region, which is one of the driest in Germany. Thus, increased flooding frequency might, to some degree, reduce drought effects brought about by climate change as well.