Burke & Herbert Financial Services Corp. filed a preliminary prospectus supplement to propose the offering and sale of $100 million in Fixed-to-Floating Rate Subordinated Notes due 2036. The company intends to use the net proceeds, combined with existing cash, to redeem up to $117.6 million in outstanding subordinated debt and up to $15.0 million in aggregate liquidation preference of preferred stock. Keefe, Bruyette & Woods, Inc., a Stifel Company, is serving as the sole manager for this transaction. Burke & Herbert Financial Services Corp. operates as a community bank providing financial services through its subsidiary, Burke & Herbert Bank & Trust.
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