Burke & Herbert Financial Services posted Q2 net income applicable to common shares of $9.3 million, or $0.50 a share, down from $27.1 million, or $1.79 a share, in Q1.
Adjusted (non-GAAP) operating net income was $37.5 million, lifting adjusted diluted EPS to $2.03.
Net interest income rose to $93 million from $71.8 million; net interest margin (non-GAAP) widened to 4.15% from 4.09%.
Non-interest expense jumped to $93.5 million from $51.4 million, reflecting the LINKBANCORP acquisition and conversion and integration costs.
The company completed the LINKBANCORP merger effective May 1, creating an about $11 billion-asset franchise; it declared a $0.55 per share cash dividend payable Sept. 1.
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