LINKBANCORP Inc (LNKB) News & EventsLNKBNews & EventsLINKBANCORP Inc

Burke & Herbert and LinkBancorp Merger Approved by Shareholders

Burke & Herbert (BHRB) and LinkBancorp (LNKB) announced that at special meetings of their respective shareholders held on March 25, Burke & Herbert and Link shareholders approved the merger of Link with and into Burke & Herbert, with Burke & Herbert as the continuing corporation pursuant to the agreement and plan of merger, dated as of December 18, 2025, by and between Burke & Herbert and Link. The closing of the proposed merger remains subject to regulatory approvals and certain other customary closing conditions.

LinkBancor Q4 Earnings Affected by Credit Provision

Earnings for the fourth quarter of 2025 were adversely affected by increased provision expense primarily related to a specific reserve established for a single commercial credit with total exposure of $5M, requiring a full impairment, with an after-tax effect of $4M. The determination of this reserve resulted from concerns with the Commercial Relationship raised during the fourth quarter of 2025, leading to the identification of purported fraudulent activity in January 2026. "Overall, we were pleased with the core performance reflected in our quarterly and annual results, despite the impact of the required provision for a single commercial lending relationship," said Andrew Samuel, CEO of LinkBancor. "Annual net income reached an all-time high on strong growth in net interest income, continued progress in fee income and continued discipline in operating expenses. Looking ahead to 2026, we are excited to build on our strong organic growth, deliver exceptional service to our clients, and prepare for a successful merger with Burke & Herbert to create value for our shareholders."

DA Davidson Downgrades LinkBancorp to Neutral, Price Target Unchanged at $10

DA Davidson analyst Peter Winter downgraded LinkBancorp to Neutral from Buy with an unchanged price target of $10 after the company entered a merger agreement pursuant to which Burke & Herbert will acquire LinkBancorp in an all-stock transaction valued at $354.2M or $9.38 per share.