Burke & Herbert Financial Services Business Summary

Burke & Herbert Financial Services Corp. (BHRB) is a bank holding company that generates revenue primarily through net interest income derived from a diversified portfolio of loans and interest-bearing securities. The company’s primary business segments include Commercial Real Estate (CRE), Commercial and Industrial (C&I) lending, Acquisition, Construction and Development (AC&D), and Single-Family Residential banking, supported by fee-based income from wealth management, trust services, and treasury management. Following its 2024 merger with Summit Financial Group and the pending 2026 acquisition of LINKBANCORP, BHRB has evolved into a regional powerhouse with approximately $11 billion in pro forma assets and a footprint spanning six states. It competes directly with regional and national peers such as Capital One Financial, U.S. Bancorp, C&F Financial, and Texas Capital Bank, positioning itself as a relationship-driven alternative that combines the personalized service of a community bank with the operational scale of a mid-tier regional player. Founded in 1852 by John Woolfolk Burke and Arthur Herbert, the company is currently led by Chairman and CEO David P. Boyle, a veteran executive with prior leadership roles at PNC Financial and Orrstown Financial. The core executive team includes President H. Charles Maddy III, who is scheduled to retire in June 2026, and Executive Vice President and CFO Roy E. Halyama, who is the designated successor for the presidency following the 2026 annual meeting. Operational oversight is managed by EVP and COO Joseph W. Hager, a CPA with extensive risk and audit experience from Summit Financial and PwC, while Douglas Horton serves as Chief Information Officer. The board of directors features notable figures such as Vice Chairman Oscar Bean and former Chairman E. Hunt Burke, ensuring a balance of legacy continuity and modern governance as the firm integrates its recent transformative acquisitions.