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New Deal


Announced

Completed

Burke & Herbert Financial Services completed the merger with Summit Financial in a $371m deal.

Financials

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Transaction Value£292m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

community banking

Banks

Acquisition

Merger

Domestic

Majority

Friendly

Public

Completed

Single Bidder

Synopsis

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Burke & Herbert Financial Services, the bank holding company for Burke & Herbert Bank & Trust, completed the merger with Summit Financial, the financial holding company for Summit Community Bank, in a $371m deal. "The consummation of this partnership brings together two organizations committed to being the quintessential community bank in our markets, where we care about the people who live and work among us. We look forward to delivering increased value for our constituencies with an experienced and respected board, a seasoned management group, and a team of people dedicated to exceptional service," David P. Boyle, Burke & Herbert Chair, President and CEO.

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