Quarterly ResultSep 18, 2026, 08:49 AM
Burke & Herbert Q2 Net Income $9.3M; Merger Impact Detailed
AI Summary
Burke & Herbert Financial Services Corp. has filed an 8-K report detailing its Q2 2026 financial results and providing an investor presentation. The company reported net income applicable to common shares of $9.3 million, or $0.50 per diluted share, with adjusted diluted EPS at $2.03. The merger with LNKB, which closed on May 1, 2026, significantly increased total assets to $11.0 billion and gross loans to $8.0 billion. The presentation also covers the company's financial performance, loan portfolio, funding, liquidity, and capital position, highlighting strong capital ratios despite merger-related expenses.
Key Highlights
- Burke & Herbert Financial Services Corp. reported Q2 2026 net income applicable to common shares of $9.3 million, or $0.50 per diluted share.
- Adjusted diluted EPS for Q2 2026 was $2.03, compared to $1.87 in Q1 2026.
- Total assets reached $11.0 billion as of June 30, 2026, up from $7.9 billion at the end of 2025.
- Gross loans HFI increased to $8.0 billion in Q2 2026 from $5.4 billion in Q1 2026.
- Total deposits grew to $9.0 billion in Q2 2026 from $6.3 billion in Q1 2026.
- The company's merger with LNKB closed on May 1, 2026, creating an approximately $11 billion Mid-Atlantic community bank.
- Reported non-interest expense was $93.5 million, including $32.4 million in merger-related expenses; adjusted non-interest expense was $61.1 million.
- The company's capital ratios remain strong, with Total Capital Ratio at 14.42% and Common Equity Tier 1 Ratio at 11.8% as of June 30, 2026.
Price Impact
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