NASDAQ : BHRB
Burke & Herbert Financial Services Corp. — Financial statements
Financials · Banks - Regional · United States
Last price 70.48 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.42B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 432.94M | 382.97M | 311.42M | 101.80M | 73.64M | 73.17M |
| Interest Income on Investments | 75.36M | 62.02M | 55.64M | 45.74M | 38.99M | 27.65M |
| Total Interest Income | 508.31M | 444.99M | 367.06M | 147.54M | 112.63M | 100.82M |
| Interest Paid on Deposits | 132.41M | 121.97M | 118.66M | 39.20M | 3.74M | 2.75M |
| Interest Paid on Borrowings | 31.07M | 27.11M | 21.71M | 13.94M | 5.20M | 1.47M |
| Total Interest Expense | 163.48M | 149.08M | 140.38M | 53.14M | 8.94M | 4.22M |
| Net Interest Income | 344.82M | 295.91M | 226.69M | 94.40M | 103.69M | 96.60M |
| Trust Income | 12.60M | 10.46M | 8.41M | 5.35M | 5.31M | 5.16M |
| Gain (Loss) on Sale of Assets | -225.00K | -225.00K | -2.18M | -37.00K | 4.53M | 1.06M |
| Gain (Loss) on Sale of Investments | -1.82M | -1.59M | -1.17M | -2.64M | -2.98M | -2.72M |
| Other Non-Interest Income | 40.54M | 35.51M | 25.50M | 12.07M | 12.23M | 12.09M |
| Total Non-Interest Income | 51.08M | 44.14M | 30.56M | 14.75M | 19.09M | 15.60M |
| Revenues Before Loan Losses | 395.91M | 340.06M | 257.25M | 109.15M | 122.79M | 112.20M |
| Provision for Loan Losses | 2.23M | 1.52M | 24.22M | 214.00K | -7.47M | -1.00M |
| Revenue | 393.68M | 338.53M | 233.03M | 108.93M | 130.25M | 113.20M |
| Salaries and Employee Benefits | 133.44M | 97.19M | 91.40M | 46.18M | 45.14M | 44.44M |
| Federal Deposit Insurance | 4.84M | 3.90M | 3.33M | 1.96M | ||
| Amortization of Goodwill & Intangibles | 19.25M | 15.55M | 11.46M | |||
| Selling, General & Administrative | 45.94M | 36.95M | 39.52M | 14.73M | 14.42M | 13.29M |
| Other Non-Interest Expense | 61.43M | 39.00M | 30.42M | 21.00M | 18.39M | 15.03M |
| Total Non-Interest Expense | 264.90M | 192.59M | 176.13M | 83.87M | 77.95M | 72.76M |
| EBT Excluding Unusual Items | 128.78M | 145.94M | 56.90M | 25.06M | 52.30M | 40.44M |
| Pretax Income | 127.78M | 144.94M | 39.90M | 25.06M | 52.30M | 40.44M |
| Income Tax Expense | 24.32M | 27.63M | 4.19M | 2.37M | 8.29M | 4.28M |
| Net Income | 103.46M | 117.31M | 35.71M | 22.69M | 44.01M | 36.16M |
| Preferred Dividends & Other Adjustments | 900.00K | 900.00K | 675.00K | |||
| Net Income to Common | 102.56M | 116.41M | 35.03M | 22.69M | 44.01M | 36.16M |
| Basic Shares Outstanding | 17.19M | 15.01M | 12.39M | 7.43M | 7.43M | 7.42M |
| Diluted Shares Outstanding | 17.29M | 15.07M | 12.44M | 7.51M | 7.47M | 7.43M |
| EPS (Basic) | 5.97 | 7.76 | 2.83 | 3.05 | 5.93 | 4.87 |
| EPS (Diluted) | 5.93 | 7.72 | 2.82 | 3.02 | 5.89 | 4.87 |
| Dividend Per Share | 2.20 | 2.20 | 2.16 | 2.12 | 2.12 | 2.03 |
| Effective Tax Rate | 19.03% | 19.06% | 10.50% | 9.45% | 15.84% | 10.58% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 144.40M | 289.13M | 135.31M | 44.50M | 50.30M | 77.36M |
| Investment Securities | 1.94B | 1.19B | 966.93M | 746.22M | 759.67M | 1.08B |
| Trading Asset Securities | 2.60M | 3.19M | 1.06M | 1.31M | 1.63M | |
| Mortgage-Backed Securities | 458.48M | 488.64M | 520.22M | 635.59M | 558.18M | |
| Total Investments | 1.94B | 1.65B | 1.46B | 1.27B | 1.40B | 1.64B |
| Gross Loans | 8.06B | 5.39B | 5.68B | 2.09B | 1.89B | 1.75B |
| Allowance for Loan Losses | -92.47M | -67.82M | -68.04M | -25.30M | -21.04M | -31.71M |
| Other Adjustments to Gross Loans | -6.20M | -4.40M | -3.50M | -3.30M | -4.40M | |
| Net Loans | 7.97B | 5.32B | 5.60B | 2.06B | 1.87B | 1.71B |
| Property, Plant & Equipment | 148.37M | 154.70M | 148.78M | 69.83M | 63.05M | 47.57M |
| Goodwill | 118.34M | 34.15M | 32.78M | |||
| Other Intangible Assets | 74.40M | 41.75M | 57.30M | |||
| Loans Held for Sale | 2.20M | 365.00K | 2.33M | 1.50M | 1.25M | |
| Accrued Interest Receivable | 48.73M | 35.44M | 34.45M | 15.89M | 15.48M | 15.25M |
| Other Real Estate Owned & Foreclosed | 2.87M | 2.69M | 2.78M | |||
| Other Long-Term Assets | 582.44M | 352.42M | 302.03M | 149.99M | 154.93M | 117.91M |
| Total Assets | 11.03B | 7.92B | 7.81B | 3.62B | 3.56B | 3.62B |
| Interest Bearing Deposits | 6.94B | 4.77B | 4.85B | 2.08B | 1.93B | 1.95B |
| Institutional Deposits | 295.40M | 284.40M | 92.30M | 32.60M | 52.40M | |
| Non-Interest Bearing Deposits | 2.02B | 1.34B | 1.38B | 830.32M | 960.69M | 930.85M |
| Total Deposits | 8.96B | 6.40B | 6.52B | 3.00B | 2.92B | 2.93B |
| Short-Term Borrowings | 2.67M | 1.99M | 2.04M | 3.56M | 1.63M | |
| Current Portion of Long-Term Debt | 525.00M | 450.00M | 365.00M | 272.00M | ||
| Current Portion of Leases | 3.78M | |||||
| Accrued Interest Payable | 148.62M | 103.00M | 70.71M | 8.95M | 1.45M | 309.00K |
| Long-Term Debt | 251.39M | 87.49M | 111.89M | |||
| Federal Home Loan Bank Debt, Long-Term | 343.10M | 275.00M | ||||
| Long-Term Leases | 15.09M | 17.21M | 9.17M | 10.34M | 11.16M | |
| Other Long-Term Liabilities | 8.78M | 10.59M | 10.60M | |||
| Total Liabilities | 9.88B | 7.07B | 7.08B | 3.30B | 3.29B | 3.23B |
| Preferred Stock, Non-Redeemable | 10.41M | 10.41M | 10.41M | |||
| Total Preferred Equity | 10.41M | 10.41M | 10.41M | |||
| Common Stock | 10.38M | 7.80M | 7.77M | 4.00M | 4.00M | 4.00M |
| Additional Paid-In Capital | 736.23M | 405.92M | 401.17M | 14.49M | 12.28M | 10.37M |
| Retained Earnings | 558.79M | 517.06M | 434.11M | 427.33M | 424.39M | 396.12M |
| Treasury Stock | -27.58M | -27.58M | -27.58M | -27.58M | -27.73M | -27.82M |
| Comprehensive Income & Other | -134.49M | -58.96M | -95.72M | -103.49M | -139.50M | 6.96M |
| Total Common Equity | 1.14B | 844.24M | 719.74M | 314.75M | 273.45M | 389.63M |
| Shareholders' Equity | 1.15B | 854.65M | 730.16M | 314.75M | 273.45M | 389.63M |
| Total Liabilities & Equity | 11.03B | 7.92B | 7.81B | 3.62B | 3.56B | 3.62B |
| Total Debt | 776.39M | 559.04M | 496.08M | 283.21M | 357.00M | 287.80M |
| Net Cash (Debt) | -632.00M | -267.31M | -357.57M | -237.65M | -305.40M | -208.80M |
| Net Cash Per Share | -36.56 | -17.73 | -28.74 | -31.66 | -40.90 | -28.10 |
| Filing Date Shares Outstanding | 20.19M | 15.04M | 14.98M | 7.44M | 7.43M | 7.42M |
| Total Common Shares Outstanding | 20.19M | 15.03M | 14.97M | 7.43M | 7.43M | 7.42M |
| Book Value Per Share | 56.62 | 56.18 | 48.08 | 42.37 | 36.82 | 52.48 |
| Tangible Book Value | 950.58M | 768.34M | 629.66M | 314.75M | 273.45M | 389.63M |
| Tangible Book Value Per Share | 47.07 | 51.13 | 42.06 | 42.37 | 36.82 | 52.48 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 117.31M | 35.71M | 22.69M | 44.01M | 36.16M | |
| Depreciation & Amortization | 22.72M | 17.41M | 2.87M | 3.05M | 3.21M | |
| Gain (Loss) on Sale of Assets | 227.00K | 2.00M | 37.00K | -4.53M | -1.06M | |
| Gain (Loss) on Sale of Investments | 5.02M | 4.39M | 7.66M | 9.95M | 8.49M | |
| Total Asset Writedown | 195.00K | |||||
| Provision for Credit Losses | 1.52M | 24.22M | 214.00K | -7.47M | -1.00M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 2.26M | -378.00K | -1.33M | 7.29M | 7.22M | |
| Accrued Interest Receivable | -988.00K | 3.03M | -414.00K | -228.00K | -1.47M | |
| Change in Other Net Operating Assets | -58.02M | -32.50M | 3.85M | 501.00K | 2.58M | |
| Other Operating Activities | -23.53M | -34.17M | -1.84M | 2.56M | 718.00K | |
| Operating Cash Flow | 107.93M | 85.80M | 42.51M | 61.06M | 54.95M | |
| Capital Expenditures | -11.71M | -4.57M | -14.25M | -23.07M | -1.08M | |
| Sale of Property, Plant and Equipment | 3.38M | 8.26M | 2.56M | |||
| Cash Acquisitions | 52.61M | |||||
| Investment in Securities | -143.25M | 7.49M | 156.58M | 41.89M | -474.67M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 322.38M | 92.17M | -200.53M | -151.35M | 88.72M | |
| Other Investing Activities | -30.71M | -24.14M | 11.65M | -3.13M | 353.00K | |
| Investing Cash Flow | 136.72M | 123.56M | -43.17M | -127.41M | -384.13M | |
| Short-Term Debt Issued | 85.00M | 93.00M | 68.10M | 50.00M | ||
| Total Debt Issued | 85.00M | 93.00M | 68.10M | 50.00M | ||
| Short-Term Debt Repaid | -71.10M | |||||
| Long-Term Debt Repaid | -30.24M | -216.00K | -119.00K | -152.00K | -152.00K | |
| Total Debt Repaid | -30.24M | -216.00K | -71.22M | -152.00K | -152.00K | |
| Net Debt Issued (Repaid) | 54.76M | 92.78M | -71.22M | 67.95M | 49.85M | |
| Issuance of Common Stock | 709.00K | 3.50M | 347.00K | 97.00K | ||
| Repurchase of Common Stock | -1.11M | |||||
| Common Dividends Paid | -33.02M | -28.64M | -15.75M | -15.74M | -14.87M | |
| Preferred Dividends Paid | -900.00K | |||||
| Total Dividends Paid | -33.92M | -28.64M | -15.75M | -15.74M | -14.87M | |
| Other Financing Activities | -112.39M | -186.19M | 81.48M | -13.02M | 143.97M | |
| Financing Cash Flow | -90.84M | -118.54M | -5.14M | 39.29M | 177.83M | |
| Net Cash Flow | 153.81M | 90.82M | -5.80M | -27.07M | -151.34M | |
| Free Cash Flow | 96.23M | 81.23M | 28.26M | 37.98M | 53.87M | |
| Free Cash Flow Margin | 28.43% | 34.86% | 25.94% | 29.16% | 47.59% | |
| Free Cash Flow Per Share | 6.38 | 6.53 | 3.77 | 5.09 | 7.25 | |
| Cash Interest Paid | 147.60M | 139.31M | 45.63M | 7.80M | 4.33M | |
| Cash Income Tax Paid | 10.03M | 2.23M | 1.57M | 950.00K | 1.35M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.42B | 936.43M | 933.39M | 467.27M | 525.00M | 408.21M |
| Last Close Price | 70.48 | 60.80 | 58.68 | 57.02 | 61.83 | 46.37 |
| PE Ratio | 11.88 | 8.04 | 26.64 | 20.59 | 11.93 | 11.29 |
| PS Ratio | 3.62 | 2.77 | 4.00 | 4.29 | 4.03 | 3.61 |
| PB Ratio | 1.24 | 1.10 | 1.28 | 1.49 | 1.92 | 1.05 |
| P/FCF Ratio | 16.45 | 9.73 | 11.49 | 16.54 | 13.82 | 7.58 |
| P/OCF Ratio | 14.66 | 8.68 | 10.88 | 10.99 | 8.60 | 7.43 |
| Debt / Equity Ratio | 0.67 | 0.65 | 0.68 | 0.90 | 1.31 | 0.74 |
| Debt / FCF Ratio | 5.81 | 6.11 | 10.02 | 9.40 | 5.34 | |
| Net Debt / Equity Ratio | 0.55 | 0.31 | 0.49 | 0.76 | 1.12 | 0.54 |
| Net Debt / FCF Ratio | 2.78 | 4.40 | 8.41 | 8.04 | 3.88 | |
| Return on Equity (ROE) | 10.47% | 14.80% | 6.83% | 7.72% | 13.28% | 9.34% |
| Return on Assets (ROA) | 1.09% | 1.49% | 0.62% | 0.63% | 1.23% | 1.03% |
| Earnings Yield | 8.41% | 12.53% | 3.83% | 4.86% | 8.38% | 8.86% |
| FCF Yield | 6.08% | 10.28% | 8.70% | 6.05% | 7.23% | 13.20% |
| Dividend Yield | 3.12% | 3.53% | 3.46% | 3.37% | 3.00% | 3.69% |
| Payout Ratio | 37.09% | 28.91% | 80.20% | 69.39% | 35.77% | 41.12% |
| Buyback Yield / Dilution | -14.96% | -21.15% | -65.74% | -0.52% | -0.51% | 0.33% |
| Total Shareholder Return | -11.84% | -17.62% | -62.28% | 2.85% | 2.49% | 4.02% |