Important notice to customers regarding FDIC insurance
On May 1, 2026 (the “Effective Time”), LINKBANK (“LINKBANK”) , a Pennsylvania chartered bank and a wholly owned subsidiary of LINKBANCORP, Inc., merged into Burke & Herbert Bank & Trust Company (“Burke & Herbert Bank”), a Virginia chartered commercial bank and wholly owned subsidiary of Burke & Herbert Financial Services Corp., with Burke & Herbert Bank surviving the merger as the continuing bank (the “Bank Merger”). At the Effective Time, LINKBANK ceased operations as a separately chartered bank. Beginning at the Effective Time and until further notice, Burke & Herbert Bank will operate LINKBANK as a division of Burke & Herbert Bank under the trade name “LINKBANK, a division of Burke & Herbert Bank & Trust Company.”
As a result of the Bank Merger and by operation of law, Burke & Herbert Bank became the successor in interest to all assets, liabilities, rights, duties, and obligations of LINKBANK, including, but not limited to, all such rights, duties, and obligations of LINKBANK under any consumer or commercial (i) deposit account agreement, (ii) credit card agreement, (iii) treasury or cash management agreement, (iv) loan agreement, line of credit agreement, or credit sale agreement, (v) promissory note, (vi) preauthorized payment agreement, (vii) trust or wealth management agreement, and (viii) any amendment, addendum, modification, service schedule, or supplement to the foregoing agreements (collectively, the “LINKBANK Agreements”). Unless otherwise disclosed in writing by Burke & Herbert Bank, the material terms and conditions and the rights, duties and obligations of the parties to any LINKBANK Agreement (whether executed before or after the Effective Time), including due dates, payment dates, and the timing of notices and statements, will remain unchanged.
Furthermore, as a result of the Bank Merger, Burke & Herbert Bank and LINKBANK became a single depository institution at the Effective Time for purposes of deposit insurance coverage pursuant to the rules and regulations of the Federal Deposit Insurance Corporation (the “FDIC”). To provide a grace period for depositors, the FDIC requires separate insurance coverage for six months following the Effective Time of the Bank Merger. All deposit accounts you hold at LINKBANK will remain separately insured from any deposits you may have at Burke & Herbert Bank for six months following the Effective Time1. After that time, customers holding separate deposits accounts at Burke & Herbert Bank and LINKBANK will not be separately insured, but will have the funds in their separate deposit accounts in each ownership category2 combined to determine whether the depositor has exceeded the $250,000 federal deposit insurance limit set by the FDIC. If a customer has deposit accounts at both Burke & Herbert Bank and LINKBANK that, when combined on the six-month anniversary of the Effective Time, will exceed the federal deposit insurance limit, Burke & Herbert Bank encourages the customer to visit FDIC.gov website and select ‘Deposit Insurance’ for more information about deposit insurance coverage.
1For time deposits maturing after the six months, separate FDIC insurance continues until the first maturity date occurring after November 1, 2026. For time deposits that mature within six months of the Effective Time and are renewed for the same dollar amount and the same term, separate insurance applies until the first maturity date after the six‑month period. If such deposits are renewed on different terms or amounts, or are not renewed and become demand deposits, they are separately insured only through the end of the six‑month period.
2Ownership category is the classification of a deposit account based on the legal ownership and capacity in which the funds are held, which determines how FDIC insurance coverage is calculated and applied.
