11:16 AM EDT, 05/03/2024 (MT Newswires) -- Burke & Herbert Financial Services (BHRB) said Friday it has completed its merger of equals with Summit Financial Group ( SMMF ) .

Under the terms of the transaction, Summit Financial ( SMMF ) has merged with and into Burke & Herbert while Summit Community Bank has merged with and into Burke & Herbert Bank & Trust ( BHRB ), according to Burke & Herbert.

Shares of Burke & Herbert jumped more than 10% in recent Friday trading.

Price: 57.00, Change: +5.33, Percent Change: +10.32