Management Change/Compensation - Form 8-K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 3, 2024, the Federal Home Loan Bank of Pittsburgh ("Bank") determined that Mr. H. Charles Maddy, III is no longer eligible to serve as a director on the Bank's Board of Directors as a result of the merger of bank holding company Summit Financial Group, Inc. with bank holding company Burke & Herbert Financial Services Corp. Immediately following the merger, Summit Community Bank, Inc., a West Virginia banking corporation and a wholly-owned direct subsidiary of Summit Financial Group, Inc., will merge with and into Burke & Herbert Bank & Trust Company ("B&H Bank"), a Virginia banking corporation and a wholly-owned direct subsidiary of Burke & Herbert Financial Services Corp, with B&H Bank as the continuing institution. Mr. Maddy previously was elected as a West Virginia Member Director. Based on applicable law and regulation, as Mr. Maddy is no longer an officer or director of a West Virginia member institution, he is ineligible to continue to serve as a West Virginia Member Director for the remainder of his term expiring on December 31, 2026. In accordance with the Federal Home Loan Bank Act, the Bank's Board of Directors will elect an officer or a director of a West Virginia member institution to fill the vacancy for this directorship.

Description

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)