Prnewswire·2025-12-18 21:05Core Viewpoint - Burke & Herbert Financial Services Corp. has signed a definitive merger agreement to acquire LINKBANCORP, Inc. in an all-stock transaction valued at approximately $354.2 million, equating to $9.38 per share of LINK common stock based on Burke & Herbert's closing price of $69.45 as of December 17, 2025 [1]. Transaction Highlights - The merger will allow LINK shareholders to receive 0.1350 shares of Burke & Herbert common stock for each share of LINK common stock [5]. - Existing Burke & Herbert shareholders are expected to own approximately 75% of the combined company, while LINK shareholders will own about 25% [5]. - The transaction is projected to create a bank holding company with pro forma total assets of approximately $11.0 billion and total deposits of approximately $9.1 billion [9]. Strategic Importance - The acquisition marks a transformative milestone for Burke & Herbert, enhancing its presence in Pennsylvania and key Mid-Atlantic markets, thereby reinforcing its commitment to community banking [3]. - Both companies share a vision of investing in community development and demonstrating the viability of community banking for economic and social growth [4]. Management and Governance - Two members of the LINK board will join Burke & Herbert's board upon closing, with LINK's CEO Andrew Samuel serving as a Senior Advisor [6]. - LINK executives will integrate into Burke & Herbert's management team, enhancing leadership and operational capabilities [6]. Financial Advisors - Keefe, Bruyette & Woods acted as the exclusive financial advisor to Burke & Herbert, while Stephens Inc. served as financial advisor to LINK [7]. Timeline and Approvals - The transaction is expected to close in the second quarter of 2026, pending regulatory approvals and shareholder votes from both companies [10].