Deal propels Virginia's Burke & Herbert into Pennsylvania
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Burke & Herbert Financial Services Corp., Virginia's oldest bank, announced a $354.2 million stock acquisition of Linkbancorp in Pennsylvania. This strategic move marks Burke & Herbert's entry into Pennsylvania, expanding its footprint and assets to $11 billion. The deal is expected to provide geographic diversification and significant cost savings, with projected earnings-per-share accretion of 18% by 2027. The acquisition continues Burke & Herbert's transformation, following its merger with Summit Financial Group and listing on the NYSE in 2023.
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