---
schema_version: "secwatch.filing_event.v1"
accession: "0001964333-23-000170"
form_type: "8-K"
ticker: "BHRB"
cik: "0001964333"
company_name: "Burke & Herbert Financial Services Corp."
filed_at: "2023-08-25T23:59:59+00:00"
generated_at: "2026-06-11T03:43:27.693908+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BHRB to acquire SMMF in all-stock merger; exchange ratio 0.5043

## Summary
- Each SMMF share converts into 0.5043 BHRB shares; fractional shares paid in cash.
- Combined board of 16 directors, 8 from each company; David P. Boyle CEO, Charles Maddy President.
- Termination fee of $14.86 million payable by either party under certain circumstances.
- Transaction requires shareholder and regulatory approvals (Fed, FDIC, state agencies).

## SEC filing metadata
- accession: 0001964333-23-000170
- form_type: 8-K
- ticker: BHRB
- cik: 0001964333
- company_name: Burke & Herbert Financial Services Corp.
- filed_at: 2023-08-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1964333/000196433323000170/0001964333-23-000170-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1964333/000196433323000170/bhrb-20230824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001964333-23-000170
- JSON: https://secwatch.observer/filing/0001964333-23-000170.json
- Plain text: https://secwatch.observer/filing/0001964333-23-000170.txt

## Key facts
- Material Agreements
  Burke & Herbert Financial Services Corp. entered into Agreement and Plan of Merger with Summit Financial Group, Inc. (effective 2023-08-24).
  - Action: entry
  - Agreement: merger
  - Counterparty: Summit Financial Group, Inc.
  - Effective: 2023-08-24
  source text: On August 24, 2023, Burke & Herbert Financial Services Corp., a Virginia corporation (“BHRB”), and Summit Financial Group, Inc., a West Virginia corporation (“SMMF”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1964333/000196433323000170/0001964333-23-000170-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.