BHRB

Burke & Herbert Financial Services (BHRB) came out with quarterly earnings of $2.03 per share, missing the Zacks Consensus Estimate of $2.1 per share. This compares to earnings of $1.97 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.33%. A quarter ago, it was expected that this bank holding company would post earnings of $1.87 per share when it actually produced earnings of $1.87, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Burke & Herbert, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $106.9 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 4.04%. This compares to year-ago revenues of $87.11 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Burke & Herbert shares have added about 14% since the beginning of the year versus the S&P 500's gain of 9.6%. While Burke & Herbert has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Burke & Herbert was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.17 on $122.4 million in revenues for the coming quarter and $8.25 on $442.8 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Ponce Financial (PDLB), has yet to report results for the quarter ended June 2026. This holding company of Ponce Bank is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +48%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Ponce Financial's revenues are expected to be $30.9 million, up 16.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Burke & Herbert Financial Services Corp. (BHRB) : Free Stock Analysis Report Ponce Financial Group, Inc. (PDLB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ALEXANDRIA, Va., July 23, 2026 (GLOBE NEWSWIRE) -- Burke & Herbert Financial Services Corp. (the “Company” or “Burke & Herbert”) (Nasdaq: BHRB) reported financial results for the quarter ended June 30, 2026. In addition, at its meeting on July 23, 2026, the board of directors declared a $0.55 per share regular cash dividend to be paid on September 1, 2026, to shareholders of record as of the close of business on August 14, 2026. From David P. Boyle, Company Chair and Chief Executive Officer “The successful integration of LINKBANCORP brings together two organizations with a shared commitment to being the quintessential community bank in our markets – one that is deeply invested in the people and businesses we serve every day. Our operating results for the second quarter reflect the strength of that combination, demonstrating both the financial benefits of the acquisition and the power of our disciplined execution. As we move forward, we remain firmly committed to delivering top‑quartile financial performance, just as we achieved following the Summit merger, and to creating sustained value for our shareholders, customers, employees, and the communities we call home.” Q2 2026 Highlights On May 1, 2026, the Company announced the completion of the merger of LINKBANCORP, Inc. (“LNKB”) with and into Burke & Herbert and the merger of LINKBANK with and into Burke & Herbert Bank & Trust Company, effective May 1, 2026. The merger created a financial holding company with approximately $11.0 billion in assets and over 100 branches across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia. Related to the merger, the total aggregate consideration paid was approximately $329.7 million and resulted in approximately $82.1 million of preliminary goodwill subject to adjustment in accordance with ASC 805, Business Combinations. The Company reported net income applicable to common shares of $9.3 million for the quarter and diluted earnings per common share (“EPS”) of $0.50; reflective of merger and other related items, adjusted (non-GAAP1) operating net income applicable to common shares was $37.5 million for the quarter and adjusted (non-GAAP1) diluted EPS was $2.03. For the quarter, the annualized return on average assets (“ROA”) was 0.37%, the annualized return on average common equity (“ROCE”) was 3.53%, and the annualized return on average tangible common equity (“ROATCE”) (non-GAAP1) was 4.07%. On an adjusted basis (non-GAAP1), ROA was 1.50%, ROCE was 14.27%, and ROATCE was 16.45%. Total shareholders’ equity was $1.2 billion and tangible common equity to tangible assets (non-GAAP1) was 9.21%, reflecting the Company’s strong capital position. Ending total gross loans were $8.0 billion and ending total deposits were $9.0 billion; ending loan-to-deposit ratio was 89.2%. The net interest margin (non-GAAP1) was 4.15% for the three months ended June 30, 2026. The balance sheet remains strong with ample liquidity. Total liquidity, including all available borrowing capacity with cash and cash equivalents, totaled $6.1 billion at the end of the second quarter. Asset quality metrics remain within the Company’s moderate risk profile with adequate reserve coverage. The Company continues to be well-capitalized, ending the quarter with 11.79%2 Common Equity Tier 1 capital to risk-weighted assets, 14.48%2 Total risk-based capital to risk-weighted assets, and a leverage ratio of 11.08%.2 Results of Operations reflecting the May 1, 2026 merger with LNKB and system & operational integration activities successfully completed in June 2026 Second Quarter 2026 compared to First Quarter 2026 The Company reported second quarter 2026 net income applicable to common shares of $9.3 million, or $0.50 per diluted common share, compared to first quarter 2026 net income applicable to common shares of $27.1 million, or $1.79 per diluted common share. Period-end total gross loans were $8.0 billion at June 30, 2026, an increase of $2.6 billion from March 31, 2026, mostly due to the merger. Additionally, the Company originated $333.0 million of new, relationship-based loan commitments during the quarter. During the month of April 2026, LNKB originated $78.2 million of new, relationship-based loan commitments. Period-end total deposits were $9.0 billion at June 30, 2026, an increase of $2.6 billion from March 31, 2026, mostly due to the merger. During the quarter, brokered deposits increased by $117.2 million and totaled $120.7 million at June 30, 2026, representing only 1.35% of total deposits. Net interest income for the quarter was $93.0 million compared to $71.8 million in the prior quarter due to an increase in interest income of $31.5 million, offset by an increase in interest expense of $10.3 million, primarily driven by the acquisition of LNKB. Net interest margin on a fully taxable equivalent basis (non-GAAP1) increased to 4.15% versus 4.09% in the first quarter of 2026, driven by growth in average interest-earning assets from the LNKB acquisition and higher securities yields, partially offset by lower loan yields and higher funding costs. Accretion income on loans during the quarter was $9.3 million, and the amortization expense impact on interest expense was $1.5 million, or 34.0 bps of net interest margin on an annualized basis in the second quarter of 2026. In the prior quarter, accretion income on loans during the quarter was $6.8 million, and the amortization expense impact on interest expense was $1.4 million, or 30.5 bps of net interest margin on an annualized basis. The cost of total deposits, including non-interest bearing deposits, was 1.75% in the second quarter of 2026, compared to 1.71% in the first quarter of 2026. The increase in the cost of deposits was mostly due to an increase in the rate paid on interest-bearing deposits and an increase in volume of interest-bearing deposits compared to the first quarter of 2026. The Company recorded credit provision expense in the second quarter of 2026 of $30.0 thousand on loans and a credit provision expense of $1.3 million on unfunded commitments. The Company’s allowance for credit losses as of June 30, 2026, was $94.5 million, or 1.2% of total loans. The credit provision expense increase in the unfunded commitment was primarily driven by a Day 2 impact of the LNKB acquisition. Total non-interest income increased $1.0 million to $13.8 million in the second quarter of 2026, compared to $12.9 million in the first quarter of 2026 driven by favorable contributions from company-owned life insurance income, debit card-related revenue, and other non-interest income categories. These increases were partially offset by lower income from the sale of LNKB-acquired securities compared to the prior quarter. Non-interest expense for the second quarter of 2026 was $93.5 million compared to $51.4 million in the first quarter of 2026; the increase was primarily driven by the LNKB acquisition. The increase in expense included conversion and integration costs, professional fees, contract termination costs, and employee-related expenses. Regulatory capital ratios2 The Company continues to be well-capitalized with capital ratios that are above regulatory requirements. As of June 30, 2026, our Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 11.8%2 and 14.5%2, respectively, and significantly above the well-capitalized requirements of 6.5% and 10%, respectively. The leverage ratio was 11.1%2 compared to a 5% level to be considered well-capitalized. Burke & Herbert Bank & Trust Company (the “Bank”), the Company’s wholly-owned bank subsidiary, also continues to be well-capitalized with capital ratios that are above regulatory requirements. As of June 30, 2026, the Bank’s Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 13.3%2 and 14.3%,2 respectively, and significantly above the well-capitalized requirements. In addition, the Bank’s leverage ratio of 12.3%2 is considered to be well-capitalized. For more information about the Company’s financial condition, including additional disclosures pertinent to recent events in the banking industry, please see our financial statements and supplemental information attached to this release. About Burke & Herbert Burke & Herbert Financial Services Corp. is the financial holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 100 branches across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia, Burke & Herbert Bank & Trust Company offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at investor.burkeandherbertbank.com. Cautionary Note Regarding Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to (or based on) the beliefs, goals, intentions, and expectations of Burke & Herbert regarding our: merger with LINKBANCORP, Inc., effective as of May 1, 2026, and the expected cost savings, synergies, returns, and other anticipated benefits from the integration of LNKB; revenues, earnings, earnings per share, loan production, asset quality, and capital levels, among other matters; estimates of the future costs and benefits of the actions we may take; assessments of expected losses on loans; assessments of interest rate and other market risks; ability to achieve financial and other strategic goals; and other statements that are not historical facts. Forward–looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “will,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward–looking statements speak only as of the date they are made; Burke & Herbert does not assume any duty, and does not undertake, to update such forward–looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Furthermore, because forward–looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in or implied by such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Burke & Herbert. Such statements are based upon the current beliefs and expectations of the management of Burke & Herbert and are subject to significant risks and uncertainties outside of its control. Caution should be exercised against placing undue reliance on forward-looking statements. The factors that could cause actual results to differ materially include the following: the possibility that the anticipated benefits of the merger will not be realized when expected or at all, including as a result of the impact of, or problems arising from (if any), the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and LNKB do business; costs or difficulties associated with newly developed or acquired operations; diversion of management’s attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate LNKB’s operations and those of Burke & Herbert; that the integration of LNKB may be more difficult, time-consuming or costly than expected; revenues following the merger may be lower than expected; Burke & Herbert’s success in executing its business plans and strategies and managing the risks involved in the foregoing; and risks related to the potential impact of global macroeconomic conditions and changes in general economic, political and market factors on the merger or our operations, generally (either nationally or locally in the areas in which we conduct, or will conduct, business), including inflation, changes in interest rates, market volatility and monetary fluctuations, and changes in federal government policies and practices, including the impact with respect to spending on industries concentrated in our market area, as well as the impact from tariffs on the markets we serve; increased competition; changes in consumer confidence and demand for financial services, including changes in consumer borrowing, repayment, investment, and deposit practices; changes in asset quality and credit risk; our ability to control costs and expenses; adverse developments in borrower industries or declines in real estate values; changes in and compliance with federal and state laws and regulations that pertain to our business and capital levels; our ability to raise capital as needed; the impact, extent and timing of technological changes; emerging external focus among regulators and other officials related to risks in connection with the development and use of artificial intelligence; the effects of any cybersecurity breaches or events; the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts and tensions, or public health events (such as pandemics), and of governmental and societal responses thereto; and the other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Burke & Herbert’s Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and other reports Burke & Herbert files with the SEC. Operating net income is a non-GAAP measure that is derived from net income adjusted for significant items. The Company believes that operating net income is useful in periods with certain significant items such as merger-related expenses. The operating net income is more reflective of management’s ability to grow the business and manage expenses. Adjusted non-interest expense also removes these significant items, such as merger-related expenses. Management believes it represents a more normalized non-interest expense total for periods with identified significant items. Total revenue is a non-GAAP measure and is derived from total interest income less total interest expense plus total non-interest income. We believe that total revenue is a useful tool to determine how the Company is managing its business and demonstrates how stable our revenue sources are from period to period. Pretax, pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and to exclude provision for (recapture of) credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for (recapture of) credit losses, which can vary significantly between periods. In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength because they eliminate intangible assets from shareholders' equity and retain the effect of accumulated other comprehensive income/(loss) in shareholders' equity. In management’s view, tangible common assets measures complement tangible common equity measures and may be meaningful to the Company, as well as analysts and investors, in assessing balance sheet composition and leverage and in facilitating comparisons with peers. These non‑GAAP measures enhance transparency by eliminating intangible assets from total assets, thereby providing additional insight into the relationship between the Company’s tangible asset base and its tangible common equity. In management’s view, adjusted return on average common equity, return on average tangible common equity, adjusted return on average tangible common equity, and adjusted return on average assets are performance metrics that may be meaningful to the Company, as well as analysts and investors, in evaluating the Company’s profitability and efficiency in deploying capital and assets and in facilitating comparisons with peers. These non‑GAAP measures provide additional insight into the Company’s underlying operating performance by focusing on returns generated from common equity, tangible common equity, and total assets, as applicable. The adjusted measures exclude the after‑tax effect of one‑time merger‑related expenses, which management believes enhances period‑to‑period comparability and provides a more representative view of the Company’s ongoing earnings performance. Return on average tangible common equity measures further isolate performance attributable to tangible capital by excluding the impact of intangible assets, while return on average assets reflects the Company’s effectiveness in generating earnings from its overall asset base. Management believes these measures, when considered together and alongside GAAP results, provide useful supplemental information for assessing profitability, capital efficiency, and operating trends. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use net interest income on a fully taxable-equivalent (FTE) basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. FTE net interest income is calculated by adding the tax benefit on certain financial interest earning assets, whose interest is tax-exempt, to total interest income then subtracting total interest expense. Management believes FTE net interest income is a standard practice in the banking industry, and when net interest income is adjusted on an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income and this adjustment is not permitted under GAAP. FTE net interest income is only used for calculating FTE net interest margin, which is calculated by annualizing FTE net interest income and then dividing by the average earning assets. The tax rate used for this adjustment is 21%. Net interest income shown elsewhere in this presentation is GAAP net interest income. (1) Non-GAAP financial measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors’ ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation tables in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measurements.(2) Ratios as of June 30, 2026, are estimated.(3) Includes Federal Home Loan Bank, Borrower-in-Custody (BIC), and correspondent bank availability.(4) Total delinquencies represent accruing loans 30 days or more past due.(5) Includes non-accrual loans and loans 90 days past due and still accruing. Media Contact:Investor [email protected]

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Burke & Herbert Financial Services (BHRB) filed a US$4.6 million shelf registration for an ESOP related common stock offering, alongside first quarter results that kept net interest income and net income close to last year and an affirmed cash dividend. See our latest analysis for Burke & Herbert Financial Services. At a share price of US$63.02, Burke & Herbert Financial Services has seen a 2.02% year to date share price return, while its 16.12% one year total shareholder return contrasts with a weaker 10.64% three year total shareholder return. This suggests momentum has picked up more recently as investors weigh the steady first quarter earnings, dividend affirmation and ESOP related shelf registration. If this kind of steady banking story has your attention, it can be useful to widen your watchlist and look at 19 top founder-led companies With a 16.1% one year total shareholder return, steady recent earnings and a price that sits below the cited analyst target, the key question is whether BHRB is still undervalued or if the market already reflects future growth. BHRB trades on a P/E of 8.1x, and based on several valuation checks, that level points to a stock that screens as good value against its banking peers. The P/E ratio compares the share price to earnings per share and is a common way investors gauge how much they are paying for a bank's current profits. For a lender like Burke & Herbert Financial Services, it gives a quick read on how the market is pricing its earnings profile relative to similar companies in the US Banks industry. Here, BHRB's P/E of 8.1x sits well below the US Banks industry average of 11.3x and also below the peer average of 12x. It is also under an estimated fair P/E of 14.5x. That level is one reference point investors may use when comparing current pricing with earnings expectations and sentiment. That gap, combined with statements that the stock is trading at good value compared to both peers and industry, highlights how earnings growth expectations and recent profit trends are not being valued at the same multiple as many comparable banks. For investors, the question is whether this lower multiple reflects caution that persists or an opportunity if growth and profitability remain aligned with current projections. Explore the SWS fair ratio for Burke & Herbert Financial Services Result: Price-to-earnings of 8.1x (UNDERVALUED) However, there are still risks, including the 10.6% three year total shareholder return and an intrinsic value premium that could limit the way investors reassess the stock. Find out about the key risks to this Burke & Herbert Financial Services narrative. While the P/E of 8.1x makes BHRB look inexpensive next to peers and an estimated fair ratio of 14.5x, the SWS DCF model tells a different story. On that measure, the stock trades at a premium to an estimated future cash flow value of $29.33 per share, which frames the lower multiple as possible valuation risk rather than clear upside. Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Burke & Herbert Financial Services for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 51 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Mixed signals on value and risk so far? Take a moment to review the full picture for yourself, including the 5 key rewards and 1 important warning sign. If BHRB has you thinking more carefully about value and risk, now is the time to widen your search and line up a couple of fresh contenders. Spot potential bargains early by scanning screener containing 25 high quality undiscovered gems that pair solid fundamentals with less crowded ownership. Prioritize resilience by checking 72 resilient stocks with low risk scores built around companies with relatively lower risk scores. Strengthen your income shortlist with 13 dividend fortresses focused on stocks offering yields of at least 5% alongside stability. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BHRB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

ALEXANDRIA, Va., April 23, 2026 (GLOBE NEWSWIRE) -- Burke & Herbert Financial Services Corp. (the “Company” or “Burke & Herbert”) (Nasdaq: BHRB) reported financial results for the quarter ended March 31, 2026. In addition, at its meeting on April 23, 2026, the board of directors declared a $0.55 per share regular cash dividend to be paid on June 1, 2026, to shareholders of record as of the close of business on May 15, 2026. From David P. Boyle, Company Chair and Chief Executive Officer "I’m pleased with our first quarter 2026 results which have put us on a good trajectory for the year. Our new loan originations were strong and we grew our loan portfolio while maintaining a solid core deposit base. Our balance sheet is well-positioned, asset quality metrics are in line with our moderate risk profile, and we delivered top quartile returns compared to our peers. We’re looking forward to our upcoming merger with LINKBANK and the benefits it will provide for our combined customers, employees, communities, and shareholders." Q1 2026 Highlights For the quarter, net income applicable to common shares totaled $27.1 million; adjusted (non-GAAP1) operating net income applicable to common shares was $28.2 million. Diluted earnings per common share (“EPS”) was $1.79; adjusted (non-GAAP1) diluted EPS of $1.87. For the quarter, the annualized return on average assets (“ROA”) was 1.39%, the annualized return on average equity (“ROE”) was 12.62%, and the annualized return on average tangible common equity (“ROATCE”) (non-GAAP1) was 13.87%. On an adjusted basis (non-GAAP1), ROA was 1.45%, ROE was 13.30%, and ROATCE was 14.44%. Tangible common equity to tangible assets (non-GAAP1) was 9.93%. Ending total gross loans were $5.4 billion and ending total deposits were $6.3 billion; ending loan-to-deposit ratio was 85.4%. The net interest margin (non-GAAP1) was 4.09% for the three months ended March 31, 2026. The balance sheet remains strong with ample liquidity. Total liquidity, including all available borrowing capacity with cash and cash equivalents, totaled $4.8 billion at the end of the first quarter. Asset quality metrics remain within the Company’s moderate risk profile with adequate reserve coverage. The Company continues to be well-capitalized, ending the quarter with 13.8%2 Common Equity Tier 1 capital to risk-weighted assets, 16.5%2 Total risk-based capital to risk-weighted assets, and a leverage ratio of 11.3%.2 On April 13, 2026, the Company and LINKBANCORP, Inc. (“LINK”) (Nasdaq: LNKB) announced receipt of regulatory approval required to complete the previously announced merger pursuant to which Burke & Herbert will acquire LINK. The merger is expected to close on May 1, 2026, pending satisfaction of customary closing conditions. Results of Operations First Quarter 2026 compared to Fourth Quarter 2025 The Company reported first quarter 2026 net income applicable to common shares of $27.1 million, or $1.79 per diluted common share, compared to fourth quarter 2025 net income applicable to common shares of $30.0 million, or $1.98 per diluted common share. Period-end total gross loans were $5.4 billion at March 31, 2026, an increase of $17.0 million from December 31, 2025, as the Company originated $132.0 million of new, relationship-based loan commitments. Period-end total deposits were $6.3 billion at March 31, 2026, a decrease of $71.7 million from December 31, 2025. Excluding a $61.0 million decrease in brokered deposits, core deposits decreased $10.7 million. Net interest income for the quarter was $71.8 million compared to $74.9 million in the prior quarter due to a decrease in interest income of $5.7 million, partially offset by a decrease in interest expense of $2.6 million. The decrease in total interest expense was primarily driven by lower deposit costs from a decrease in the balance of brokered time deposits and lower rates on certain deposit products. Net interest margin on a fully taxable equivalent basis (non-GAAP1) decreased to 4.09% versus 4.11% in the fourth quarter of 2025, mainly attributable to a decrease in average volume and average rate on loans and an increase in average volume on short-term borrowings compared to the fourth quarter of 2025. Accretion income on loans during the quarter was $6.8 million, and the amortization expense impact on interest expense was $1.4 million, or 30.5 bps of net interest margin on an annualized basis in the first quarter of 2026. In the prior quarter, accretion income on loans during the quarter was $8.7 million, and the amortization expense impact on interest expense was $1.4 million, or 39.3 bps of net interest margin on an annualized basis. The cost of total deposits, including non-interest bearing deposits, was 1.71% in the first quarter of 2026, compared to 1.80% in the fourth quarter of 2025. The decrease in the cost of deposits was mostly due to a decrease in the rate paid on interest-bearing deposits compared to the fourth quarter of 2025. The Company recorded credit provision expense in the first quarter of 2026 of $213.0 thousand on loans and a recapture of $201.0 thousand on unfunded commitments and the Company’s allowance for credit losses at March 31, 2026, was $68.0 million, or 1.3% of total loans. Total non-interest income for the first quarter of 2026 was $12.9 million compared to $11.6 million in the prior quarter, primarily due to an increase in gains on securities of $1.9 million and a $821.0 thousand increase in other non-interest income, which was partially offset by a decrease of $1.3 million in income from company-owned life insurance in the first quarter of 2026 compared to the fourth quarter of 2025. In the prior quarter, collection of death proceeds from company-owned life insurance increased non-interest income by $1.7 million. Non-interest expense for the first quarter of 2026 was $51.4 million compared to $48.5 million in the fourth quarter of 2025, primarily due to an increase in salaries, wages and employee benefits of $1.6 million, an increase in occupancy costs of $631.0 thousand and an increase in equipment rentals, depreciation and maintenance of $455.0 thousand. Regulatory capital ratios2 The Company continues to be well-capitalized with capital ratios that are above regulatory requirements. As of March 31, 2026, our Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 13.8%2 and 16.5%2, respectively, and significantly above the well-capitalized requirements of 6.5% and 10%, respectively. The leverage ratio was 11.3%2 compared to a 5% level to be considered well-capitalized. Burke & Herbert Bank & Trust Company (“the Bank”), the Company’s wholly-owned bank subsidiary, also continues to be well-capitalized with capital ratios that are above regulatory requirements. As of March 31, 2026, the Bank’s Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 15.2%2 and 16.3%,2 respectively, and significantly above the well-capitalized requirements. In addition, the Bank’s leverage ratio of 12.0%2 is considered to be well-capitalized. For more information about the Company’s financial condition, including additional disclosures pertinent to recent events in the banking industry, please see our financial statements and supplemental information attached to this release. About Burke & Herbert Burke & Herbert Financial Services Corp. is the financial holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 75 branches across Delaware, Kentucky, Maryland, Virginia, and West Virginia, Burke & Herbert Bank & Trust Company offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at investor.burkeandherbertbank.com. Cautionary Note Regarding Forward-Looking Statements This communication includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to (or based on) the beliefs, goals, intentions, and expectations of Burke & Herbert regarding its merger with LINKBANCORP, Inc. (the “proposed transaction”), revenues, earnings, earnings per share, loan production, asset quality, and capital levels, among other matters; our estimates of future costs and benefits of the actions we may take; our assessments of expected losses on loans; our assessments of interest rate and other market risks; our ability to achieve our financial and other strategic goals; the expected timing of completion of the proposed transaction; the expected cost savings, synergies, returns and other anticipated benefits from the proposed transaction; and other statements that are not historical facts. Forward–looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “will,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Forward-looking statements include, without limitation, those relating to the terms, timing and closing of the proposed transaction. Additionally, forward–looking statements speak only as of the date they are made; Burke & Herbert does not assume any duty, and does not undertake, to update such forward–looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Furthermore, because forward–looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in or implied by such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Burke & Herbert. Such statements are based upon the current beliefs and expectations of the management of Burke & Herbert and are subject to significant risks and uncertainties outside of its control. Caution should be exercised against placing undue reliance on forward-looking statements. The factors that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Burke & Herbert and LINK; the outcome of any legal proceedings that may be instituted against Burke & Herbert or LINK; the possibility that the proposed transaction will not close due to a failure to meet customary conditions to the closing; the ability of Burke & Herbert and LINK to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that the anticipated benefits of the proposed transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and LINK do business; certain restrictions during the pendency of the proposed transaction that may impact the parties’ ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate LINK’s operations and those of Burke & Herbert; such integration may be more difficult, time-consuming or costly than expected; revenues following the proposed transaction may be lower than expected; Burke & Herbert’s success in executing its business plans and strategies and managing the risks involved in the foregoing; the dilution caused by Burke & Herbert’s issuance of additional shares of its capital stock in connection with the proposed transaction; effects of the announcement, pendency or completion of the proposed transaction on the ability of Burke & Herbert and LINK to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of global macroeconomic conditions and changes in general economic, political and market factors on the proposed transaction or our operations generally (either nationally or locally in the areas in which we conduct, or will conduct, business), including inflation, changes in interest rates, market volatility and monetary fluctuations, and changes in federal government policies and practices, including the impact with respect to spending on industries concentrated in our market area, as well as the impact from tariffs on the markets we serve; increased competition; changes in consumer confidence and demand for financial services, including changes in consumer borrowing, repayment, investment, and deposit practices; changes in asset quality and credit risk; our ability to control costs and expenses; adverse developments in borrower industries or declines in real estate values; changes in and compliance with federal and state laws and regulations that pertain to our business and capital levels; our ability to raise capital as needed; the impact, extent and timing of technological changes; emerging external focus among regulators and other officials related to risks in connection with the development and use of artificial intelligence; the effects of any cybersecurity breaches or events; the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts and tensions, or public health events (such as pandemics), and of governmental and societal responses thereto; and the other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Burke & Herbert’s Annual Report on Form 10-K for the year ended December 31, 2025, and other reports Burke & Herbert files with the SEC. Operating net income is a non-GAAP measure that is derived from net income adjusted for significant items. The Company believes that operating net income is useful in periods with certain significant items such as merger-related expenses. The operating net income is more reflective of management’s ability to grow the business and manage expenses. Adjusted non-interest expense also removes these significant items, such as merger-related expenses. Management believes it represents a more normalized non-interest expense total for periods with identified significant items. Total revenue is a non-GAAP measure and is derived from total interest income less total interest expense plus total non-interest income. We believe that total revenue is a useful tool to determine how the Company is managing its business and demonstrates how stable our revenue sources are from period to period. Pretax, pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and to exclude provision for (recapture of) credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for (recapture of) credit losses, which can vary significantly between periods. In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength because they eliminate intangible assets from shareholders' equity and retain the effect of accumulated other comprehensive income/(loss) in shareholders' equity. In management’s view, tangible common assets measures complement tangible common equity measures and may be meaningful to the Company, as well as analysts and investors, in assessing balance sheet composition and leverage and in facilitating comparisons with peers. These non‑GAAP measures enhance transparency by eliminating intangible assets from total assets, thereby providing additional insight into the relationship between the Company’s tangible asset base and its tangible common equity. In management’s view, adjusted return on average common equity, return on average tangible common equity, adjusted return on average tangible common equity, and adjusted return on average assets are performance metrics that may be meaningful to the Company, as well as analysts and investors, in evaluating the Company’s profitability and efficiency in deploying capital and assets and in facilitating comparisons with peers. These non‑GAAP measures provide additional insight into the Company’s underlying operating performance by focusing on returns generated from common equity, tangible common equity, and total assets, as applicable. The adjusted measures exclude the after‑tax effect of one‑time merger‑related expenses, which management believes enhances period‑to‑period comparability and provides a more representative view of the Company’s ongoing earnings performance. Return on average tangible common equity measures further isolate performance attributable to tangible capital by excluding the impact of intangible assets, while return on average assets reflects the Company’s effectiveness in generating earnings from its overall asset base. Management believes these measures, when considered together and alongside GAAP results, provide useful supplemental information for assessing profitability, capital efficiency, and operating trends. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use net interest income on a fully taxable-equivalent (FTE) basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. FTE net interest income is calculated by adding the tax benefit on certain financial interest earning assets, whose interest is tax-exempt, to total interest income then subtracting total interest expense. Management believes FTE net interest income is a standard practice in the banking industry, and when net interest income is adjusted on an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income and this adjustment is not permitted under GAAP. FTE net interest income is only used for calculating FTE net interest margin, which is calculated by annualizing FTE net interest income and then dividing by the average earning assets. The tax rate used for this adjustment is 21%. Net interest income shown elsewhere in this presentation is GAAP net interest income. (1) Non-GAAP financial measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors’ ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation tables in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measurements. (2) Ratios as of March 31, 2026, are estimated. (3) Includes Federal Home Loan Bank, Borrower-in-Custody (BIC), and correspondent bank availability. (4) Total delinquencies represent accruing loans 30 days or more past due. (5) Includes non-accrual loans and loans 90 days past due and still accruing. Media Contact: Investor Relations 703-666-3555 [email protected]

Burke & Herbert Financial Services (BHRB) came out with quarterly earnings of $1.87 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $1.8 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +0.27%. A quarter ago, it was expected that this bank holding company would post earnings of $1.91 per share when it actually produced earnings of $1.98, delivering a surprise of +3.66%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Burke & Herbert, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $84.7 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.65%. This compares to year-ago revenues of $83.01 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Burke & Herbert shares have added about 3.4% since the beginning of the year versus the S&P 500's gain of 4.3%. While Burke & Herbert has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Burke & Herbert was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.67 on $111.8 million in revenues for the coming quarter and $8.15 on $446.1 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Orion Digital Corp. (ORIO), another stock in the same industry, has yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -75%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Orion Digital Corp.'s revenues are expected to be $12.43 million, up 3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Burke & Herbert Financial Services Corp. (BHRB) : Free Stock Analysis Report Orion Digital Corp. (ORIO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HARRISBURG, Pa., Jan. 26, 2026 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank"), reported net income of $2.9 million, or $0.08 per diluted share, for the quarter ended December 31, 2025, compared to net income of $7.8 million, or $0.21 per diluted share, for the quarter ended September 30, 2025. Excluding expenses associated with the pending merger with Burke & Herbert Financial Services Corp. ("Burke & Herbert") and other non-core expenses, adjusted pre-tax, pre-provision net income was $11.7 million1 for the quarter ended December 31, 2025, compared to $11.0 million1 for the quarter ended September 30, 2025. Net income for the year ended December 31, 2025 was $33.5 million, or $0.90 per diluted share, compared to $26.2 million, or $0.71 for the year ended December 31, 2024. 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 (the "Commercial Relationship") with total exposure of $5.0 million, requiring a full impairment, with an after-tax effect of $4.0 million. 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. Additionally, the Company announced that the Board of Directors declared a quarterly cash dividend of $0.075 per share of common stock which is expected to be paid on March 16, 2026 to shareholders of record on February 27, 2026. FULL YEAR 2025 HIGHLIGHTS: Annual Earnings Grow 26.8% over Prior Year. Earnings for the year ended December 31, 2025 were $33.5 million, or $0.90 per diluted share compared to $26.2 million, or $0.71 per diluted share for the year ended December 31, 2024, an increase of 26.8%. Adjusted pre-tax, pre-provision net income grew 20% year over year from $34.8 million1 for the year ended December 31, 2024 to $41.8 million1 for the year ended December 31, 2025. 15.7% Year over Year Increase in Tangible Book Value. Book value per share increased to $8.18 at December 31, 2025 compared to $8.16 at September 30, 2025 and $7.50 at December 31, 2024. Tangible book value per share increased to $6.201 at December 31, 2025 compared to $6.151 at September 30, 2025 and $5.361 at December 31, 2024. Expanding Deposit Franchise with 10.9% Annual Growth. Total deposits at December 31, 2025 were $2.55 billion compared to $2.67 billion at September 30, 2025 and $2.45 billion at December 31, 2024, representing an annual increase of $256.3 million2, or 10.9%, adjusting for the impact of the sale of banking operations and branches in New Jersey, including related loans and deposits (the "Branch Sale") and changes in brokered deposits. Robust Commercial Loan Growth. Total loans at December 31, 2025 were $2.56 billion, compared to $2.46 billion at September 30, 2025 and $2.35 billion at December 31, 2024, representing an annualized increase of $307.1 million2 or 13.1% annualized excluding the impact of the Branch Sale. Strategic Merger with Burke & Herbert. On December 18, 2025, the Company entered into a definitive agreement with Burke & Herbert, the parent company of Burke & Herbert Bank, under which the companies will combine in an all-stock combination, valued at approximately $354.2 million or $9.38 per share of Company common stock, based on the closing price for Burke & Herbert's common stock of $69.45 as of December 17, 2025, the day prior to the merger announcement. When the transaction is complete, the combined organization will be a leading Mid-Atlantic community banking franchise with approximately $11.0 billion in assets. Completion of the proposed transaction is subject to receiving the requisite approvals of each party's shareholders, receipt of all required regulatory approvals, and fulfillment of other customary closing conditions. "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, Chief Executive Officer of LINKBANCORP. "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." Income Statement Net interest income before the provision for credit losses for the fourth quarter of 2025 was $27.1 million compared to $26.4 million in the third quarter of 2025 and $25.5 million for the fourth quarter of 2024. The increase was primarily driven by the significant growth in average earnings assets. Net interest margin was 3.74% for the fourth quarter of 2025 compared to 3.75% for the third quarter of 2025, and 3.85% for the fourth quarter of 2024. The spread on interest rates was stable quarter over quarter as the average loan yield decreased from 6.26% for the third quarter of 2025 to 6.22% for the fourth quarter of 2025, while the cost of funds decreased from 2.34% for the third quarter of 2025 to 2.32% for the fourth quarter of 2025. Interest income from purchase accounting accretion during the fourth quarter of 2025 was approximately $150 thousand less than that recognized in the third quarter of 2025 and $813 thousand less than the fourth quarter of 2024. Noninterest income increased slightly quarter-over-quarter to $2.9 million for the fourth quarter of 2025 compared to $2.8 million for the third quarter of 2025. Year-over-year, noninterest income increased $326 thousand from $2.6 million for the fourth quarter of 2024. Noninterest expense for the fourth quarter of 2025 was $19.5 million compared to $18.2 million for the third quarter of 2025 and $18.3 million for the fourth quarter of 2024. The increase resulted primarily from an increased incentive compensation accrual, which was driven by achievement of organic growth goals, as well as a $500 thousand impairment on assets included in other expense. Income tax expense was $1.0 million for the fourth quarter of 2025, reflecting an effective tax rate of 26.1% compared to $2.2 million for the third quarter of 2025, reflecting an effective tax rate of 21.7% and $2.1 million for the fourth quarter of 2024, reflecting an effective tax rate of 21.9%. Balance Sheet Total assets were $3.07 billion at December 31, 2025 compared to $3.12 billion at September 30, 2025 and $2.88 billion at December 31, 2024. Deposits and net loans as of December 31, 2025 totaled $2.55 billion and $2.53 billion, respectively, compared to deposits and net loans of $2.67 billion and $2.43 billion, respectively at September 30, 2025 and $2.36 billion and $2.23 billion, respectively, at December 31, 2024. Deposits and net loans exclude recorded balances held for sale in the Branch Sale of $93.6 million and $91.8 million, respectively, at December 31, 2024, which are reflected within liabilities held for sale and assets held for sale. Total loans at December 31, 2025 were $2.56 billion, compared to $2.46 billion at September 30, 2025, representing an increase of $99.8 million, with the majority of the growth in commercial loans. For the full year, total loans have increased $307.1 million2 from December 31, 2024, excluding the impact of the Branch Sale, or 13.1% annualized. Total commercial loan commitments originated in the fourth quarter of 2025 were $199.4 million with funded balances of $132.7 million. The average commercial loan commitment originated during the fourth quarter of 2025 totaled approximately $1.1 million with an average outstanding funded balance of $750 thousand. Total deposits at December 31, 2025 were $2.55 billion compared to $2.67 billion at September 30, 2025, representing a decrease of $113.3 million or -4.3% annualized driven by seasonal outflows related primarily to professional services and commercial clients. For the full year, total deposits have increased $256.3 million2 from December 31, 2024, or 10.9%, adjusting for the impact of the Branch Sale and changes in brokered deposits. Noninterest bearing deposits totaled $603.7 million at December 31, 2025, down from $640.1 million at September 30, 2025. Brokered deposits decreased $40.0 million to $35.0 million at December 31, 2025. Average deposits increased $57.4 million, or 2.3%, to $2.56 billion for the quarter ended December 31, 2025, compared to $2.50 billion for the quarter ended September 30, 2025. This continued growth reflects our focus on developing deep relationships with our retail, professional services, and commercial clients to build a strong deposit franchise. The Company continues to maintain strong on-balance sheet liquidity, as total cash, cash equivalents, and securities available for sale were $314.9 million at December 31, 2025 compared to $462.1 million at September 30, 2025 and $311.7 million at December 31, 2024. Available sources of liquidity remain stable, with total availability of sources of liquidity of $1.31 billion at December 31, 2025. Shareholders' equity increased to $306.4 million at December 31, 2025 from $305.5 million at September 30, 2025. Book value per share increased to $8.18 at December 31, 2025 compared to $8.16 at September 30, 2025. Tangible book value per share increased to $6.201 at December 31, 2025 compared to $6.151 at September 30, 2025 and $5.361 at December 31, 2024, representing 15.7% growth year over year. Asset Quality The Company recorded a $6.6 million provision for credit losses during the fourth quarter of 2025, $5.0 million of which related to a specific reserve for the Commercial Relationship referenced above. As noted above, the impairment 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. The Company is pursuing all available sources of recovery. Based on the Company's review of the circumstances of the purported fraudulent activity involving this borrower, the Company believes this incident is an isolated occurrence and not indicative of a broader increase in exposure to fraud-related losses in connection with its lending businesses. The remaining $1.6 million in provision recorded was driven by the strong loan growth experienced in the fourth quarter. As of December 31, 2025, the Company's non-performing assets decreased to $24.4 million, representing 0.79% of total assets, compared to $24.6 million, representing 0.79% of total assets at September 30, 2025, resulting from the successful sale of multiple properties from one credit relationship, offset by the addition of the Commercial Relationship. Loans 30-89 days past due at December 31, 2025 were $8.22 million, representing 0.32% of total loans compared to $4.73 million or 0.19% of total loans at September 30, 2025 and $2.89 million or 0.13% of total loans at December 31, 2024. The increase was driven entirely by the inclusion of the Commercial Relationship, without which loans 30-89 days past due at December 31, 2025 would have decreased to $3.24 million. The allowance for credit losses for loans was $31.7 million, or 1.24% of total loans held for investment at December 31, 2025, compared to $25.3 million, or 1.03% of total loans held for investment at September 30, 2025. The ratio of the allowance for credit losses for loans to nonperforming assets was 129.85% at December 31, 2025, compared to 102.90% at September 30, 2025. The increase in the allowance for credit losses was primarily due to the $5.0 million specific reserve for the Commercial Relationship. The Company recorded $57 thousand in net recoveries during the fourth quarter of 2025 compared to $300 thousand in net charge-offs for the third quarter of 2025. Capital The Bank's regulatory capital ratios were well in excess of regulatory minimums to be considered "well capitalized" as of December 31, 2025. The Bank's Total Capital Ratio and Tier 1 Capital Ratio were 12.07% and 10.94% respectively, at December 31, 2025, compared to 12.31% and 11.39%, respectively, at September 30, 2025 and 11.55% and 10.74%, respectively, at December 31, 2024. The Company's ratio of Tangible Common Equity to Tangible Assets was 7.75%1 at December 31, 2025 compared to 7.56%1 at September 30, 2025 and 7.16%1 at December 31, 2024. ABOUT LINKBANCORP, Inc. LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Pennsylvania, Maryland, Delaware and Virginia, through 24 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.com. Forward Looking Statements This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; changes in general economic trends, including inflation, tariffs and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of any cybersecurity breaches. In addition, factors from the proposed merger with Burke & Herbert that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Burke & Herbert and the Company; the outcome of any legal proceedings that may be instituted against Burke & Herbert or the Company; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated (and the risk that required regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction); the ability of Burke & Herbert and the Company to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; the possibility that the anticipated benefits of the proposed transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and the Company do business; certain restrictions during the pendency of the proposed transaction that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate the Company's operations and those of Burke & Herbert; such integration may be more difficult, time- consuming or costly than expected; revenues following the proposed transaction may be lower than expected; Burke & Herbert's and the Company's success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by Burke & Herbert's issuance of additional shares of its capital stock in connection with the proposed transaction; effects of the announcement, pendency or completion of the proposed transaction on the ability of Burke & Herbert and the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction and other factors that may affect future results of Burke & Herbert and the Company; and the other factors discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of each of Burke & Herbert's and the Company's Quarterly Report on Form 10–Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, and other reports Burke & Herbert and the Company file with the Securities and Exchange Commission (the "SEC"). The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements. Additional Information and Where to Find It In connection with the proposed transaction, Burke & Herbert will file a registration statement on Form S-4 with the SEC to register the shares of Burke & Herbert common stock to be issued in connection with the proposed transaction. The registration statement will include a joint proxy statement of Burke & Herbert and the Company, which also constitutes a prospectus of Burke & Herbert, that will be sent to shareholders of Burke & Herbert and shareholders of the Company seeking certain approvals related to the proposed transaction. Each of Burke & Herbert and the Company may file with the SEC other relevant documents concerning the proposed transaction. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. INVESTORS AND SHAREHOLDERS OF THE COMPANY AND THEIR RESPECTIVE AFFILIATES ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS TO BE INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BURKE & HERBERT, THE COMPANY AND THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about Burke & Herbert and the Company, without charge, at the SEC's website www.sec.gov. Copies of documents filed with the SEC by Burke & Herbert will be made available free of charge in the "Investor Relations" section of Burke & Herbert's website, www.burkeandherbertbank.com, under the heading "Financials." Copies of documents filed with the SEC by the Company will be made available free of charge in the "Investor Relations" section of the Company's website, www.linkbank.com, under the heading "Financials." The information on Burke & Herbert's or the Company's respective websites is not, and shall not be deemed to be, a part of this press release or incorporated into other filings either company makes with the SEC. Participants in Solicitation Burke & Herbert, the Company, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from shareholders of Burke & Herbert and shareholders of the Company in respect of the proposed transaction under the rules of the SEC. Information regarding Burke & Herbert's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 31, 2025, and certain other documents filed by Burke & Herbert with the SEC. Information regarding the Company's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 17, 2025, and certain other documents filed by the Company with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph. LB-E LB-D 0.90 0.71 Adjusted Earnings per Share, Basic (2) 0.10 0.21 0.21 0.71 0.73 Earnings per Share, Diluted 0.08 0.21 0.20 0.90 0.71 Adjusted Earnings per Share, Diluted (2) 0.10 0.21 0.21 0.71 0.73 Selected Operating Ratios Net Interest Margin 3.74 % 3.75 % 3.85 % 3.81 % 3.88 % Annualized Return on Assets ("ROA") 0.38 % 1.04 % 1.06 % 1.14 % 0.94 % Adjusted ROA2 0.50 % 1.04 % 1.07 % 0.90 % 0.97 % Annualized Return on Equity ("ROE") 3.78 % 10.33 % 10.82 % 11.28 % 9.62 % Adjusted ROE2 4.93 % 10.33 % 10.88 % 8.92 % 9.89 % Efficiency Ratio 65.03 % 62.25 % 65.04 % 59.77 % 68.87 % Adjusted Efficiency Ratio3 61.21 % 62.25 % 64.84 % 63.72 % 68.04 % Noninterest Income to Avg. Assets 0.38 % 0.37 % 0.36 % 0.75 % 0.32 % Noninterest Expense to Avg. Assets 2.52 % 2.42 % 2.56 % 2.57 % 2.70 % 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 Financial Condition Data Total Assets $ 3,069,992 $ 3,122,371 $ 2,886,554 $ 2,861,489 $ 2,878,778 Loans Receivable, Net 2,525,055 2,431,635 2,331,958 2,247,322 2,229,314 Noninterest-bearing Deposits 603,728 640,100 646,654 646,002 658,646 Interest-bearing Deposits 1,951,024 2,027,999 1,809,755 1,787,692 1,701,936 Total Deposits $ 2,554,752 $ 2,668,099 $ 2,456,409 $ 2,433,694 $ 2,360,582 Selected Balance Sheet Ratios Total Capital Ratio1 12.07 % 12.31 % 12.43 % 12.61 % 11.55 % Tier 1 Capital Ratio1 10.94 % 11.39 % 11.51 % 11.71 % 10.74 % Common Equity Tier 1 Capital Ratio1 10.94 % 11.39 % 11.51 % 11.71 % 10.74 % Leverage Ratio1 9.69 % 9.95 % 10.34 % 10.02 % 9.49 % Tangible Common Equity to Tangible Assets4 7.75 % 7.56 % 7.89 % 7.78 % 7.16 % Tangible Book Value per Share5 $ 6.20 $ 6.15 $ 5.92 $ 5.80 $ 5.36 Asset Quality Data Non-performing Assets $ 24,393 $ 24,627 $ 21,877 $ 26,041 $ 17,173 Non-performing Assets to Total Assets 0.79 % 0.79 % 0.76 % 0.91 % 0.60 % Non-performing Loans to Total Loans 0.95 % 1.00 % 0.93 % 1.15 % 0.76 % Allowance for Credit Losses - Loans ("ACLL") $ 31,674 $ 25,342 $ 24,651 $ 26,619 $ 26,435 ACLL to Total Loans 1.24 % 1.03 % 1.05 % 1.17 % 1.17 % ACLL to Nonperforming Assets 129.85 % 102.90 % 112.68 % 102.22 % 153.93 % Net chargeoffs (recoveries)(6) $ (57) $ 300 $ 40 $ 81 $ 252 Appendix A – Reconciliation to Non-GAAP Financial Measures This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures. Contact: Nick West Director, Corporate Development 717.678.7935 [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/linkbancorp-inc-announces-fourth-quarter-2025-and-full-year-2025-financial-results-and-declares-dividend-302670363.html

Burke & Herbert Financial Services (BHRB) came out with quarterly earnings of $1.98 per share, beating the Zacks Consensus Estimate of $1.91 per share. This compares to earnings of $1.77 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.67%. A quarter ago, it was expected that this bank holding company would post earnings of $1.88 per share when it actually produced earnings of $1.97, delivering a surprise of +4.79%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Burke & Herbert, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $86.56 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.07%. This compares to year-ago revenues of $82.5 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Burke & Herbert shares have added about 5.9% since the beginning of the year versus the S&P 500's gain of 0.4%. While Burke & Herbert has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Burke & Herbert was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.89 on $86.5 million in revenues for the coming quarter and $7.79 on $439.5 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Blue Owl Capital Corporation (OBDC), has yet to report results for the quarter ended December 2025. The results are expected to be released on February 18. This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of -25.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Blue Owl Capital Corporation's revenues are expected to be $446.15 million, up 13.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Burke & Herbert Financial Services Corp. (BHRB) : Free Stock Analysis Report Blue Owl Capital Corporation (OBDC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ALEXANDRIA, Va., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Burke & Herbert Financial Services Corp. (the “Company” or “Burke & Herbert”) (Nasdaq: BHRB) reported financial results for the quarter and the year ended December 31, 2025. In addition, at its meeting on January 22, 2026, the board of directors declared a $0.55 per share regular cash dividend to be paid on March 2, 2026, to shareholders of record as of the close of business on February 13, 2026. From David P. Boyle, Company Chair and Chief Executive Officer “Our fourth quarter 2025 results are a fitting cap to a year marked by disciplined execution. Our balance sheet remains strong and well-positioned, asset quality metrics improved, and we once again delivered top quartile returns compared to our peers. At the beginning of the year, we set goals to achieve a more granular, diverse and relationship-based loan portfolio, to grow our core deposits and non-interest income by delivering our full suite of products and services, and to continue our expansion into new and existing markets. We accomplished those goals and I am incredibly proud of the teamwork demonstrated across the Company to deliver what we said we would. By staying true to our core values of serving & leading, delivering more, elevating everyone, and always being invested in the long-term success of those around us, the foundation as we enter 2026 is solid. I’m grateful for the support of our shareholders and look forward to delivering increased value for them, our customers, our employees, and our communities.” Q4 2025 Highlights For the quarter, net income applicable to common shares totaled $30.0 million, and diluted earnings per common share (“EPS”) was $1.98. For the quarter, the annualized return on average assets was 1.49% and the annualized return on average equity was 14.14%. For the twelve months ended December 31, 2025, net income applicable to common shares totaled $116.4 million, and diluted earnings per common share was $7.72. For the twelve months ended December 31, 2025, the return on average assets was 1.48% and the return on average equity was 14.76%. Ending total gross loans were $5.4 billion and ending total deposits were $6.4 billion; ending loan-to-deposit ratio was 84.1%. The net interest margin (non-GAAP1) was 4.11% for the three months ended December 31, 2025 and 4.14% for the twelve months ended December 31, 2025. The balance sheet remains strong with ample liquidity. Total liquidity, including all available borrowing capacity with cash and cash equivalents, totaled $4.8 billion at the end of the fourth quarter. Asset quality metrics remain within the Company’s moderate risk profile with adequate reserve coverage. The Company continues to be well-capitalized, ending the quarter with 13.2%2 Common Equity Tier 1 capital to risk-weighted assets, 15.9%2 Total risk-based capital to risk-weighted assets, and a leverage ratio of 10.9%.2 Donations made by the Burke & Herbert Bank Foundation in support of communities across our footprint surpassed $1 million. On December 18, 2025, the Company and LINKBANCORP, Inc. (“LINK”) (Nasdaq: LNKB) announced the signing of a definitive merger agreement under which LINK will merge with and into the Company in an all-stock transaction (the “transaction”). When and if the proposed transaction is completed, the combined organization will create a financial holding company with approximately $11 billion in assets and more than 100 locations across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia, with more than 1,000 employees serving our communities. Completion of the proposed transaction is subject to receiving the requisite approvals of the Company's and LINK's shareholders, receipt of all required regulatory approvals, and fulfillment of other customary closing conditions. Results of Operations Fourth Quarter 2025 compared to Third Quarter 2025 The Company reported fourth quarter 2025 net income applicable to common shares of $30.0 million, or $1.98 per diluted common share, compared to third quarter 2025 net income applicable to common shares of $29.7 million, or $1.97 per diluted common share. Period-end total gross loans were $5.4 billion at December 31, 2025, a decrease of $171.8 million from September 30, 2025, as the Company exited approximately $201.5 million of non-strategic loans while originating $383.3 million of new, relationship-based loan commitments. Period-end total deposits were $6.4 billion at December 31, 2025, a decrease of $8.1 million from September 30, 2025. Excluding a $60.0 million decrease in brokered deposits, core deposits increased $51.9 million. Net interest income for the quarter was $74.9 million compared to $73.8 million in the prior quarter due to a decrease in interest expense of $1.2 million. The decrease in total interest expense was primarily driven by lower deposit costs from a decrease in the balance of brokered time deposits and lower rates on certain deposit products. Net interest margin on a fully taxable equivalent basis (non-GAAP1) increased to 4.11% versus 4.08% in the third quarter of 2025, mainly attributable to a decrease in yield on interest-bearing liabilities compared to the third quarter of 2025. Accretion income on loans during the quarter was $8.7 million, and the amortization expense impact on interest expense was $1.4 million, or 39.3 bps of net interest margin on an annualized basis in the fourth quarter of 2025. In the prior quarter, accretion income on loans during the quarter was $8.2 million, and the amortization expense impact on interest expense was $1.4 million, or 36.7 bps of net interest margin on an annualized basis. The cost of total deposits, including non-interest bearing deposits, was 1.80% in the fourth quarter of 2025, compared to 1.87% in the third quarter of 2025. The decrease in the cost of deposits was mostly due to a decrease in the rate paid on interest-bearing deposits compared to the third quarter of 2025. The Company recorded credit provision expense in the fourth quarter of 2025 of $136 thousand and the Company’s allowance for credit losses at December 31, 2025, was $67.8 million, or 1.3% of total loans. Total non-interest income for the fourth quarter of 2025 was $11.6 million compared to $11.6 million in the prior quarter. While collection of death proceeds from company-owned life insurance increased non-interest income by $1.7 million in the fourth quarter, this increase was offset by decreases in other categories of non-interest income including service charges and fees, net gains (losses) on securities and other non-interest income in the fourth quarter of 2025 compared to the third quarter of 2025. Non-interest expense for the fourth quarter of 2025 was $48.5 million compared to $48.1 million in the third quarter of 2025, with all categories remaining relatively flat quarter over quarter. Regulatory capital ratios2 The Company continues to be well-capitalized with capital ratios that are above regulatory requirements. As of December 31, 2025, our Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 13.2%2 and 15.9%2, respectively, and significantly above the well-capitalized requirements of 6.5% and 10%, respectively. The leverage ratio was 10.9%2 compared to a 5% level to be considered well-capitalized. Burke & Herbert Bank & Trust Company (“the Bank”), the Company’s wholly-owned bank subsidiary, also continues to be well-capitalized with capital ratios that are above regulatory requirements. As of December 31, 2025, the Bank’s Common Equity Tier 1 capital to risk-weighted asset and Total risk-based capital to risk-weighted asset ratios were 14.8%2 and 15.9%,2 respectively, and significantly above the well-capitalized requirements. In addition, the Bank’s leverage ratio of 11.6%2 is considered to be well-capitalized. For more information about the Company’s financial condition, including additional disclosures pertinent to recent events in the banking industry, please see our financial statements and supplemental information attached to this release. About Burke & Herbert Burke & Herbert Financial Services Corp. is the financial holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 75 branches across Delaware, Kentucky, Maryland, Virginia, and West Virginia, Burke & Herbert Bank & Trust Company offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at investor.burkeandherbertbank.com. Cautionary Note Regarding Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to (or based on) the beliefs, goals, intentions, and expectations of Burke & Herbert and LINK regarding the proposed transaction, revenues, earnings, earnings per share, loan production, asset quality, and capital levels, among other matters; our estimates of future costs and benefits of the actions we may take; our assessments of expected losses on loans; our assessments of interest rate and other market risks; our ability to achieve our financial and other strategic goals; the expected timing of completion of the proposed transaction; the expected cost savings, synergies, returns and other anticipated benefits from the proposed transaction; and other statements that are not historical facts. Forward–looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “will,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Forward-looking statements include, without limitation, those relating to the terms, timing and closing of the proposed transaction. Additionally, forward–looking statements speak only as of the date they are made; Burke & Herbert and LINK do not assume any duty, and do not undertake, to update such forward–looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Furthermore, because forward–looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in or implied by such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Burke & Herbert and LINK. Such statements are based upon the current beliefs and expectations of the management of Burke & Herbert and LINK and are subject to significant risks and uncertainties outside of the control of the parties. Caution should be exercised against placing undue reliance on forward-looking statements. The factors that could cause actual results to differ materially include the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Burke & Herbert and LINK; the outcome of any legal proceedings that may be instituted against Burke & Herbert or LINK; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated (and the risk that required regulatory approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction); the ability of Burke & Herbert and LINK to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; the possibility that the anticipated benefits of the proposed transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Burke & Herbert and LINK do business; certain restrictions during the pendency of the proposed transaction that may impact the parties’ ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate LINK’s operations and those of Burke & Herbert; such integration may be more difficult, time-consuming or costly than expected; revenues following the proposed transaction may be lower than expected; Burke & Herbert’s and LINK’s success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by Burke & Herbert’s issuance of additional shares of its capital stock in connection with the proposed transaction; effects of the announcement, pendency or completion of the proposed transaction on the ability of Burke & Herbert and LINK to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction and other factors that may affect future results of Burke & Herbert and LINK; and the other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of each of Burke & Herbert’s and LINK’s Quarterly Report on Form 10–Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, and other reports Burke & Herbert and LINK file with the SEC. Additional Information and Where to Find It In connection with the proposed transaction, Burke & Herbert will file a registration statement on Form S-4 with the SEC to register the shares of Burke & Herbert common stock to be issued in connection with the proposed transaction. The registration statement will include a joint proxy statement of Burke & Herbert and LINK, which also constitutes a prospectus of Burke & Herbert, that will be sent to shareholders of Burke & Herbert and shareholders of LINK seeking certain approvals related to the proposed transaction. Each of Burke & Herbert and LINK may file with the SEC other relevant documents concerning the proposed transaction. This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. INVESTORS AND SHAREHOLDERS OF BURKE & HERBERT AND LINK AND THEIR RESPECTIVE AFFILIATES ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS TO BE INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BURKE & HERBERT, LINK AND THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about Burke & Herbert and LINK, without charge, at the SEC’s website www.sec.gov. Copies of documents filed with the SEC by Burke & Herbert will be made available free of charge in the “Investor Relations” section of Burke & Herbert’s website, www.burkeandherbertbank.com, under the heading “Financials.” Copies of documents filed with the SEC by LINK will be made available free of charge in the “Investor Relations” section of LINK’s website, www.linkbank.com, under the heading “Financials.” The information on Burke & Herbert’s or LINK’s respective websites is not, and shall not be deemed to be, a part of this presentation or incorporated into other filings either company makes with the SEC. Participants in Solicitation Burke & Herbert, LINK, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from shareholders of Burke & Herbert and shareholders of LINK in respect of the proposed transaction under the rules of the SEC. Information regarding Burke & Herbert’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 31, 2025, and certain other documents filed by Burke & Herbert with the SEC. Information regarding LINK’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 17, 2025, and certain other documents filed by LINK with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph. Operating net income is a non-GAAP measure that is derived from net income adjusted for significant items. The Company believes that operating net income is useful in periods with certain significant items such as merger-related expenses. The operating net income is more reflective of management’s ability to grow the business and manage expenses. Adjusted non-interest expense also removes these significant items, such as merger-related expenses. Management believes it represents a more normalized non-interest expense total for periods with identified significant items. Total revenue is a non-GAAP measure and is derived from total interest income less total interest expense plus total non-interest income. We believe that total revenue is a useful tool to determine how the Company is managing its business and demonstrates how stable our revenue sources are from period to period. Pretax, pre-provision earnings is a non-GAAP measure and is based on adjusting income before income taxes and to exclude provision for (recapture of) credit losses. We believe that pretax, pre-provision earnings is a useful tool to help evaluate the ability to provide for credit costs through operations and provides an additional basis to compare results between periods by isolating the impact of provision for (recapture of) credit losses, which can vary significantly between periods. In management's view, tangible common equity measures are capital adequacy metrics that may be meaningful to the Company, as well as analysts and investors, in assessing the Company's use of equity and in facilitating comparisons with peers. These non-GAAP measures are valuable indicators of a financial institution's capital strength because they eliminate intangible assets from shareholders' equity and retain the effect of accumulated other comprehensive income/(loss) in shareholders' equity. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of net interest income, we use net interest income on a fully taxable-equivalent (FTE) basis by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. FTE net interest income is calculated by adding the tax benefit on certain financial interest earning assets, whose interest is tax-exempt, to total interest income then subtracting total interest expense. Management believes FTE net interest income is a standard practice in the banking industry, and when net interest income is adjusted on an FTE basis, yields on taxable, nontaxable, and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income and this adjustment is not permitted under GAAP. FTE net interest income is only used for calculating FTE net interest margin, which is calculated by annualizing FTE net interest income and then dividing by the average earning assets. The tax rate used for this adjustment is 21%. Net interest income shown elsewhere in this presentation is GAAP net interest income. (1) Non-GAAP financial measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors’ ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation tables in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measurements. (2) Ratios as of December 31, 2025, are estimated. (3) Includes Federal Home Loan Bank, Borrower-in-Custody (BIC), and correspondent bank availability. (4) Total delinquencies represent accruing loans 30 days or more past due. (5) Includes non-accrual loans and loans 90 days past due and still accruing. Media Contact: Investor Relations 703-666-3555 [email protected]

If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) share price is up 49% in the last five years, that's less than the market return. However, if you include the dividends then the return is market beating. Unfortunately the share price is down 9.7% in the last year. The past week has proven to be lucrative for Burke & Herbert Financial Services investors, so let's see if fundamentals drove the company's five-year performance. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. During five years of share price growth, Burke & Herbert Financial Services achieved compound earnings per share (EPS) growth of 27% per year. This EPS growth is higher than the 8% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock. This cautious sentiment is reflected in its (fairly low) P/E ratio of 8.98. You can see how EPS has changed over time in the image below (click on the chart to see the exact values). It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. This free interactive report on Burke & Herbert Financial Services' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Burke & Herbert Financial Services' TSR for the last 5 years was 79%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! Investors in Burke & Herbert Financial Services had a tough year, with a total loss of 6.3% (including dividends), against a market gain of about 10%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 12%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. It is all well and good that insiders have been buying shares, but we suggest you check here to see what price insiders were buying at. Burke & Herbert Financial Services is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.