Burke & Herbert Financial Services (BHRB) investor relations material

Executive summary

• Announced receipt of all regulatory approvals for merger with LINKBANCORP/LINKBANK, expected to close May 1, 2026, creating an $11B asset financial holding company with over 100 locations and 1,000+ employees across six states.

• Net income for 1Q26 was $27.3M; net income applicable to common shares was $27.1M; adjusted operating net income was $28.2M.

• Diluted EPS was $1.79; adjusted diluted EPS was $1.87.

• Board declared a $0.55 per share regular cash dividend, payable June 1, 2026.

• Focused on relationship-driven community banking, top-quartile returns, and long-term value creation.

Financial highlights

• Net interest income for Q1 2026 was $71.8M; total revenue (non-GAAP) was $84.7M.

• Non-interest income rose to $12.9M, driven by higher securities gains.

• Non-interest expense increased to $51.4M, mainly due to higher salaries, benefits, and occupancy costs.

• Total assets at $7.9B, gross loans $5.4B, and total deposits $6.3B as of March 31, 2026.

• Tangible book value per share grew 23.2% from 4Q24 to $51.83.

Outlook and guidance

• Strategic focus on expanding markets, growing fee revenue, and maintaining a moderate risk profile through the economic cycle.

• Expectation of realizing cost savings, synergies, and enhanced returns from the LINKBANCORP/LINKBANK merger.

• Management expects continued strong loan production, asset quality, and capital levels, but cautions about risks related to the merger and macroeconomic factors.