← Burke & Herbert Financial Services Corp.
| Annual Trend | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Income | $36.2m | $44.0m | $22.7m | $35.7m | $117.3m | |
| Depreciation and amortization of fixed assets | $3.2m | $3.1m | $2.9m | $5.9m | $6.9m | |
| Amortization of other intangible assets | — | $0 | $0 | $11.5m | $15.8m | |
| Amortization on assumed liabilities | — | $0 | $0 | $10.2m | $6.7m | |
| Amortization of housing tax credits | $6.8m | $6.1m | $5.6m | $5.4m | $7.0m | |
| Amortization of securities | $9.9m | $11.1m | $9.2m | $9.5m | $9.8m | |
| Deferred tax expense (benefit) | ($1.7m) | $1.4m | ($1.5m) | ($1.5m) | $13.3m | |
| Share-based compensation expense | $283k | $2.0m | $2.5m | $2.9m | $4.8m | |
| Realized (gain) on sales of OREO property | — | $0 | $0 | ($172k) | $2k | |
| Repayment of operating lease liabilities | ($2.1m) | ($2.3m) | ($3.1m) | ($2.7m) | ($2.5m) | |
| Accretion income related to acquired loans | — | $0 | $0 | ($40.9m) | ($39.8m) | |
| Realized (gain) loss on sales of available-for-sale securities | $4k | $454k | $112k | ($1.4m) | ($147k) | |
| Write-down on OREO property | — | — | $0 | $0 | $195k | |
| Provision for (recapture of) credit losses | ($1.0m) | ($7.5m) | $214k | $24.2m | $1.5m | |
| Income from company-owned life insurance | ($2.3m) | ($2.7m) | ($2.8m) | ($4.7m) | ($8.1m) | |
| (Gain) loss on disposal of fixed assets | ($1.1m) | ($4.5m) | $37k | $2.2m | $225k | |
| Accretion of securities | ($1.4m) | ($1.6m) | ($1.6m) | ($3.7m) | ($4.6m) | |
| (Gain) on loans held-for-sale | ($194k) | ($58k) | ($138k) | ($484k) | ($297k) | |
| Proceeds from sales of loans held-for-sale | $50.2m | $9.6m | $14.2m | $37.1m | $23.0m | |
| Change in fair value of loans held-for-sale | ($23k) | $23k | ($28k) | $28k | $0 | |
| Originations of loans held-for-sale | ($43.0m) | ($2.3m) | ($15.5m) | ($37.5m) | ($20.7m) | |
| (Increase) decrease in accrued interest receivable | ($1.5m) | ($228k) | ($414k) | $3.0m | ($988k) | |
| (Increase) decrease in other assets | $2.6m | $501k | $3.9m | ($32.5m) | ($58.0m) | |
| Increase in accrued interest payable and other liabilities | $32k | $4.0m | $6.5m | $63.7m | $36.7m | |
| Proceeds from maturities, prepayments, and calls of securities available-for-sale, net | $194.6m | $213.6m | $112.0m | $257.9m | $209.6m | |
| Proceeds from sales of securities available-for-sale, net | $700k | $195.9m | $77.8m | $372.4m | $22.1m | |
| Purchases of securities available-for-sale, net | ($670.0m) | ($367.6m) | ($33.2m) | ($622.8m) | ($374.9m) | |
| Net cash from merger | — | $0 | $0 | $52.6m | $0 | |
| Sales of restricted stock | $2.0m | $22.7m | $29.9m | $40.6m | $29.1m | |
| Purchases of restricted stock | ($1.9m) | ($27.1m) | ($19.4m) | ($67.7m) | ($37.7m) | |
| Proceeds from sales of OREO properties | — | $0 | $0 | $758k | $156k | |
| Proceeds from sales of property and equipment | $2.6m | $8.3m | $3.4m | $0 | $0 | |
| Purchases of property and equipment, net of disposals | ($1.1m) | ($23.1m) | ($14.2m) | ($4.6m) | ($11.7m) | |
| (Purchases) proceeds from company-owned life insurance | $240k | $1.2m | $1.2m | $2.2m | ($22.2m) | |
| (Increase) decrease in loans made to customers, net | $88.7m | ($151.4m) | ($200.5m) | $92.2m | $322.4m | |
| Net increase (decrease) in non-interest-bearing accounts | $78.8m | $29.8m | ($130.4m) | ($27.5m) | ($43.6m) | |
| Net increase (decrease) in interest-bearing accounts | $65.1m | ($42.9m) | $211.9m | ($158.7m) | ($68.8m) | |
| Increase (decrease) in other short-term borrowings | $50.0m | $68.1m | ($71.1m) | $93.0m | $85.0m | |
| Repayment of finance lease liabilities | ($152k) | ($152k) | ($119k) | ($216k) | ($236k) | |
| Proceeds from employee stock purchase program | $0 | $0 | $206k | $259k | $679k | |
| Treasury stock transactions | ($1.1m) | $97k | $141k | $0 | $0 | |
| Beginning of year | $77.4m | $50.3m | $44.5m | $135.3m | $289.1m | |
| Federal | — | — | $1.2m | $1.9m | $6.0m | |
| State | — | — | $325k | $335k | $4.0m | |
| Change in unrealized gains on available-for-sale securities | ($20.2m) | ($182.1m) | $41.4m | $8.3m | $45.4m | |
| Change in pension plan benefits | $386k | ($1.3m) | $1.6m | $1.5m | $696k | |
| Transfers to OREO | — | — | $0 | $0 | $259k | |
| Lease liability arising from obtaining right-of-use assets | $2.2m | $1.6m | $1.2m | $12.3m | $775k | |
| Preferred stock issued for merger, net | — | $0 | $0 | $10.4m | $0 | |
| Fair value of assets purchased in merger | — | $0 | $0 | $4.5b | $0 | |
| Fair value of liabilities assumed in merger | — | $0 | $0 | $4.1b | $0 | |
| Net cash flows provided by operating activities | $55.0m | $61.1m | $42.5m | $85.8m | $107.9m | |
| Net cash flows provided by (used in) investing activities | ($384.1m) | ($127.4m) | ($43.2m) | $123.6m | $136.7m | |
| Repayment of subordinated debt | — | — | $0 | $0 | ($30.0m) | |
| Issuance of common stock | — | $0 | $0 | $3.2m | $30k | |
| Common stock issued for merger, net | — | $0 | $0 | $387.0m | $0 | |
| Cash dividends paid | ($14.9m) | ($15.7m) | ($15.7m) | ($28.6m) | ($33.9m) | |
| Net cash flows provided by (used in) financing activities | $177.8m | $39.3m | ($5.1m) | ($118.5m) | ($90.8m) | |
| (Decrease) increase in cash and cash equivalents | ($151.3m) | ($27.1m) | ($5.8m) | $90.8m | $153.8m | |
| Interest paid to depositors | $2.9m | $3.4m | $37.6m | $114.7m | $123.9m | |
| Interest paid on short-term borrowings | $39k | $4.3m | $8.0m | $17.0m | $18.7m | |
| Interest paid on subordinated debt and trust preferred securities | $39k | $0 | $0 | $7.4m | $4.9m | |
| Interest paid on finance lease | $39k | $63k | $86k | $110k | $107k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.