LinkBancorp Merges with Burke & Herbert, Shares Delisted from Nasdaq

Context LinkBancorp (ticker: LNKB) operated as an emerging growth company listed on the Nasdaq Capital Market. The merger had been announced in December 2025 and required regulatory filings, including a Form 8‑K with the SEC, to disclose the transaction and its impact on shareholders.

Key Facts - Effective May 1, 2026, LinkBancorp merged into Burke & Herbert, with the latter surviving as the combined entity. - The exchange ratio was set at 0.1350 Burke & Herbert common shares for each LinkBancorp share, meaning a holder of 100 LinkBancorp shares received 13.5 Burke & Herbert shares. Fractional shares were paid in cash. - All outstanding LinkBancorp equity awards—restricted shares, restricted stock units, and stock options—were automatically converted into the same 0.1350 share ratio, subject to tax withholding. - Immediately after the merger, LinkBancorp filed a suspension request and a delisting notification with Nasdaq, resulting in the removal of LNKB from the Nasdaq Capital Market. No trading of LNKB shares occurred after the suspension. - Burke & Herbert’s market cap post‑merger stands at roughly $1.2 billion, while the combined entity inherits LinkBancorp’s $4.2 billion loan portfolio.

What It Means Investors holding LNKB now own a smaller number of Burke & Herbert shares, diluting their position but gaining exposure to a larger, diversified financial services platform. The delisting eliminates LNKB’s public market visibility, potentially reducing liquidity for former shareholders until they trade the new Burke & Herbert shares on the NYSE under ticker BHF. The merger also consolidates banking operations: LinkBancorp’s subsidiary, LINKBANK, merged into Burke & Herbert Bank & Trust, creating a single bank with a broader geographic footprint.

Looking Ahead Watch for Burke & Herbert’s integration progress, especially the performance of the combined loan portfolio and any regulatory reviews that could affect the new entity’s capital ratios. The next earnings release will reveal whether the merger delivers the anticipated cost synergies and revenue growth.