Business
Burke & Herbert Financial Services Corp. and LINKBANCORP, Inc. Announce Agreement to Merge
ALEXANDRIA, Va. and CAMP HILL, Pa., Dec. 18, 2025 /PRNewswire/ -- Burke & Herbert Financial Services Corp. (the "Company" or "Burke & Herbert") (Nasdaq: BHRB)
About this update from Burke & Herbert Financial Services Corp.
[{"type":"text","content":"ALEXANDRIA, Va. and CAMP HILL, Pa., Dec. 18, 2025 /PRNewswire/ -- Burke & Herbert Financial Services Corp. (the \"Company\" or \"Burke & Herbert\") (Nasdaq: BHRB) and LINKBANCORP, Inc. (\"LINK\") (Nasdaq: LNKB), the parent company of LINKBANK, today announced the signing of a definitive merger agreement pursuant to which Burke & Herbert will acquire LINK in an all-stock transaction valued at approximately $354.2 million or $9.38 per share of LINK common stock, based on a closing price for Burke & Herbert's common stock of $69.45 as of December 17, 2025. \n \n \n \n \n \n \n \nHighlights of the Transaction:Expands Burke & Herbert into Pennsylvania and significantly enhances the Company's existing footprint resulting in more than 100 locations across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West VirginiaCreates a bank holding company with pro forma total assets of approximately $11.0 billion and pro forma total deposits of approximately $9.1 billionThe transaction is expected to result in a combined earnings per share of approximately $9.18 in the first full year of combined operations (assuming fully realized cost savings)Closely aligned cultures dedicated to the success of our customers, communities, employees and shareholdersFrom David P. Boyle, Burke & Herbert Chair and Chief Executive Officer\"This strategic acquisition marks another transformative milestone in Burke & Herbert's long history. By uniting the strengths of Burke & Herbert and LINK, we are positioning ourselves to deliver unparalleled value to our customers, employees, communities and shareholders. Our entry into Pennsylvania and the expanded presence across key Mid-Atlantic markets underscores our unwavering commitment to community banking and reinforces our reputation as a trusted financial partner wherever we operate.\"From Andrew Samuel, LINK Chief Executive Officer\"Our organizations share a vision to invest in the development of strong future leaders for the industry and our communities, to contribute to economically and socially flourishing communities, and to seek to demonstrate the continued viability of and integral role of community banking for our economic and social development. Burke & Herbert's dedication to its core values of serving & leading, delivering more, elevating everyone, and always being invested are demonstrated in its ...