Holders Of Summit Common Stock To Have Right To Receive 0.5043 Shares Of Burke & Herbert Common Stock
Portfolio Pulse from Benzinga Newsdesk
Summit Financial Group (SMMF) shareholders will receive 0.5043 shares of Burke & Herbert Bank (BHRB) common stock as part of a merger. The merged entity will operate under the name 'Burke & Herbert Financial Services Corp.' and will trade under the BHRB ticker symbol on the Nasdaq Capital Market.
August 24, 2023 | 8:48 pm
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The merged entity of Summit Financial Group and Burke & Herbert Bank will operate under the name 'Burke & Herbert Financial Services Corp.' and will trade under the BHRB ticker symbol on the Nasdaq Capital Market.
The merger will result in the new entity trading under the BHRB ticker symbol. This could potentially impact the stock price of BHRB, but the direction is uncertain without additional information.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Summit Financial Group shareholders will receive 0.5043 shares of Burke & Herbert Bank common stock as part of the merger.
The merger will result in Summit Financial Group shareholders receiving shares of Burke & Herbert Bank. This could potentially impact the stock price of SMMF, but the direction is uncertain without additional information.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100