Burke & Herbert Financial Services Corp. BHRB
Burke & Herbert Financial Services Corp. was organized as a Virginia corporation in 2022 to serve as the holding company for Burke & Herbert Bank & Trust Company. The Company became a bank holding company when it commenced operations on October 1, 2022, following a reorganization transaction in which it acquired control of the Bank under the Bank Holding Company Act of 1956 ("BHCA"). This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. The Company has no material operations other than owning the Bank. In September 2023, the Company elected to become a financial holding company under the BHCA. As a financial holding company of a Virginia state bank, the Company is subject to regulation, supervision, and examination by the Board of Governors of the Federal Reserve System (the "Federal Reserve") and the Bureau of Financial Institutions of the Virginia State Corporation Commission (the "Virginia BFI"). The Bank is a Virginia chartered commercial bank that commenced operations in 1852. The Bank became a member of the Federal Reserve System on December 31, 2024. The Bank is subject to regulation, supervision, and examination by the Federal Reserve (through the Federal Reserve Bank of Richmond) and the Virginia BFI.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Interest expense | $295.9M | $226.7M | $94.4M | $103.7M | $4.2M | — |
| Pre-tax income | $144.9M | $39.9M | $25.1M | $52.3M | $40.4M | — |
| Income tax | $27.6M | $4.2M | $2.4M | $8.3M | $4.3M | — |
| Net income | $117.3M | $35.7M | $22.7M | $44.0M | $36.2M | — |
| EPS, basic | 7.76 | 2.83 | 3.05 | 5.93 | 4.87 | — |
| EPS, diluted | 7.72 | 2.82 | 3.02 | 5.89 | 4.87 | — |
| Shares, diluted (wtd. avg.) | 15.1M | 12.4M | 7.5M | 7.5M | 7.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $289.1M | $135.3M | $44.5M | $50.3M | $77.4M | $228.7M |
| Property, plant and equipment | $136.8M | $132.3M | $61.1M | $53.2M | — | — |
| Goodwill | $34.1M | $32.8M | $0 | $0 | $0 | — |
| Other intangibles | $41.7M | $57.3M | $0 | — | — | — |
| Total assets | $7.92B | $7.81B | $3.62B | $3.56B | — | — |
| Short-term debt | $450.0M | $365.0M | $272.0M | — | — | — |
| Total liabilities | $7.07B | $7.08B | $3.30B | $3.29B | — | — |
| Retained earnings | $517.1M | $434.1M | $427.3M | $424.4M | — | — |
| Total equity | $854.6M | $730.2M | $314.8M | $273.5M | $389.6M | $384.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $107.9M | $85.8M | $42.5M | $61.1M | $55.0M | — |
| Depreciation and amortisation | $6.9M | $5.9M | $2.9M | $3.1M | $3.2M | — |
| Stock-based compensation | $4.8M | $2.9M | $2.5M | $2.0M | $283.0K | — |
| Capital expenditure | $11.7M | $4.6M | $14.2M | $23.1M | $1.1M | — |
| Investing cash flow | $136.7M | $123.6M | -$43.2M | -$127.4M | -$384.1M | — |
| Financing cash flow | -$90.8M | -$118.5M | -$5.1M | $39.3M | $177.8M | — |
| Dividends paid | $33.9M | $28.6M | $15.7M | $15.7M | $14.9M | — |
| Buybacks | — | — | — | — | $4.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001964333-26-000052.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Net income | — | $36.2M | $44.0M | $22.7M | $35.7M | $117.3M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event Item 8.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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