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Business Combination (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisition, Total Consideration Paid The following table summarizes adjustments to goodwill subsequent to December 31, 2024 (in thousands):
Goodwill
Balance at December 31, 2024$32,783 
Adjustment to goodwill acquired in conjunction with the acquisition of Summit1,366 
Balance at June 30, 2025$34,149 
The following table details the total consideration paid for Summit on May 3, 2024, the fair values of the assets acquired and liabilities assumed and the resulting goodwill at the acquisition date.
($ in thousands, except share information)
ConsiderationMay 3, 2024
Common stock of Summit Financial Group, Inc.14,686,738
Exchange ratio0.5043
Expected Burke & Herbert common stock to be issued7,406,522 
Actual Burke & Herbert common stock issued7,405,772 
Fractional common stock to be paid in cash750 
Actual Burke & Herbert common stock issued7,405,772 
Price per share of Burke & Herbert common stock issued$51.67 
Purchase price consideration for common stock issued382,656 
Fractional common stock to be paid in cash750 
Average 10 day closing price used to pay fractional common stock$53.66 
Cash paid for fractional shares40 
Implied value of stock appreciation rights ("SARs") and restricted stock units4,336 
Fair value of preferred stock issued by Burke & Herbert10,413 
Fully diluted transaction value$397,445 
Goodwill$34,149 
Business Combination, Recognized Asset Acquired and Liability Assumed
As RecordedEstimatedEstimated
by SummitFair ValueFair Value
($ in thousands)May 3, 2024AdjustmentsMay 3, 2024
Total purchase price consideration$397,445 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and equivalents53,357 — 53,357 
Securities, available-for-sale, at fair value491,608 — 491,608 
Securities, held-to-maturity, at amortized cost93,573 (7,430)86,143 
Equity and other investments36,085 — 36,085 
Loans, gross3,707,940 (153,306)3,554,634 
Allowance for credit losses(49,471)25,991 (23,480)
Loans, net of allowance3,658,469 (127,315)3,531,154 
Premises and equipment, net62,255 13,276 75,531 
Accrued interest receivable19,610 — 19,610 
Company-owned life insurance86,363 — 86,363 
Goodwill and intangibles73,144 (4,384)68,760 
Other assets43,169 11,263 54,432 
Total identifiable assets acquired4,617,633 (114,590)4,503,043 
Deposits3,704,072 (7,136)3,696,936 
Borrowings283,398 — 283,398 
Subordinated debentures and trust preferred securities123,533 (16,466)107,067 
Unfunded reserve liability6,692 (3,190)3,502 
Accrued interest and other liabilities47,537 1,307 48,844 
Total liabilities4,165,232 (25,485)4,139,747 
Total identifiable net assets452,401 (89,105)363,296 
Goodwill$34,149