BHRB · Burke & Herbert Financial Services Corp.

Burke & Herbert Financial Services Corp. has successfully closed its merger with LINKBANCORP, Inc., a transformative transaction that expands its footprint, particularly in Pennsylvania through the integration of LINKBANK into Burke & Herbert Bank & Trust Company. The deal involved issuing approximately 5.1 million shares at a fixed 0.1350 exchange ratio, providing LNKB shareholders with equity in the surviving Virginia-based entity while handling fractional shares in cash. This completion marks a key milestone following the Merger Agreement signed on December 18, 2025, and registered via Form S-4 declared effective January 30, 2026. Governance changes align with merger terms, adding two independent LNKB directors (Poillon and Snyder) to a now-flexible 17-member board after bylaw amendments removed director count ranges. Executive appointments strengthen leadership: Carl Lundblad, ex-LNKB President, steps in as EVP and COO with competitive pay including a $494k base, 60% target incentive, $1.146M signing payment, and $617k RSU grant vesting over two years, plus robust severance and restrictive covenants. Andrew Samuel and Brent Smith join in advisory and market leadership roles, respectively. Looking ahead, Kirtan Parikh's CFO appointment from July 1 supports a smooth transition amid H. Charles Maddy III's retirement and Roy Halyama's ascension to President post-annual meeting. These moves signal strategic continuity and integration focus for investors.