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Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in the United States. The company offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts; and certificates of deposit. It also provides loans comprising commercial real estate, single family residential, owner-occupied commercial real estate, commercial and industrial, residential mortgage, and consumer non-real estate and other loans, as well as acquisition, construction, and development loans. In addition, it offers cash management services; online and mobile banking; and wealth and trust services. Further, the company provides business solutions, including small business and commercial checking and savings options; investment services; and treasury management solutions consist of a suite of digital banking, payables, receivables, and risk management, as well as automated cash flow comprising enhanced reporting, automated clearing house, wires, remote deposit capture, bill pay, lockbox, credit and debit cards, merchant services, fraud protection, and deposit and loan sweeps. Burke & Herbert Financial Services Corp. was founded in 1852 and is headquartered in Alexandria, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $337M | - | $117M | $96M | 13.9% | 31.5% | 228.5% |
| 2024 | $257M | - | $36M | $81M | 5.0% | 135.1% | 57.4% |
| 2023 | $109M | - | $23M | $28M | 7.2% | -7.9% | -48.4% |
| 2022 | $119M | - | $44M | $38M | 16.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 118.54 | 109.14 | 256.55 | 337.27 |
| Operating Revenue | - | 118.54 | 109.14 | 256.55 | 337.27 |
| Operating Expense | 74.68 | 79.88 | 85.62 | - | - |
| Selling General And Administration | - | 51.36 | 52.98 | 101.49 | 109.40 |
| Interest Income | - | 112.63 | 147.54 | 367.06 | 444.99 |
| Interest Expense | - | 8.94 | 53.14 | 140.38 | 149.08 |
| Net Interest Income | - | 103.69 | 94.40 | 226.69 | 295.91 |
| Pretax Income | - | 52.30 | 25.06 | 39.90 | 144.94 |
| Tax Provision | - | 8.29 | 2.37 | 4.19 | 27.63 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.72 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income From Continuing And Discontinued Operation | - | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income From Continuing Operation Net Minority Interest | - | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income | - | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income Common Stockholders | - | 44.01 | 22.69 | 35.03 | 116.41 |
| Net Income Including Noncontrolling Interests | - | 44.01 | 22.69 | 35.71 | 117.31 |
| Normalized Income | - | 40.20 | 22.69 | 35.71 | 117.31 |
| Diluted NI Availto Com Stockholders | - | 44.01 | 22.69 | 35.03 | 116.41 |
| Basic Average Shares | - | 7.43 | 7.43 | 14.97 | 15.03 |
| Diluted Average Shares | - | 7.47 | 7.43 | 14.97 | 15.03 |
| Reconciled Depreciation | - | 3.05 | 2.87 | 17.41 | 22.72 |
| Total Unusual Items | 1.06 | 4.53 | -0.04 | -2.18 | - |
| Total Unusual Items Excluding Goodwill | 1.06 | 4.53 | -0.04 | -2.18 | - |
| Preferred Stock Dividends | - | - | - | 0.68 | 0.90 |
| Special Income Charges | 1.06 | 4.53 | -0.04 | -2.18 | - |
| Other Special Charges | -1.06 | -4.53 | 0.04 | 2.18 | - |
| Gain On Sale Of Security | - | -0.45 | -0.11 | 1.36 | 0.15 |
| Depreciation Amortization Depletion Income Statement | - | 0 | 0 | 11.46 | 15.55 |
| Depreciation And Amortization In Income Statement | - | 0 | 0 | 11.46 | 15.55 |
| General And Administrative Expense | - | 50.33 | 52.52 | 99.60 | 107.49 |
| Salaries And Wages | - | 49.08 | 50.57 | 96.27 | 103.58 |
| Insurance And Claims | - | 1.25 | 1.96 | 3.33 | 3.90 |
| Rent Expense Supplemental | 5.48 | 5.77 | 5.77 | - | - |
| Other Operating Expenses | 12.81 | 13.76 | 14.17 | - | - |
| Selling And Marketing Expense | - | 1.03 | 0.46 | 1.89 | 1.91 |
| Rent And Landing Fees | 11.92 | 11.39 | 11.80 | - | - |
| Amortization | - | 0 | 0 | 11.46 | 15.55 |
| Amortization Of Intangibles Income Statement | - | 0 | 0 | 11.46 | 15.55 |
| Occupancy And Equipment | - | 11.39 | 11.80 | 34.75 | 30.27 |
| Depreciation Income Statement | 5.48 | 5.77 | - | - | - |
| Professional Expense And Contract Services Expense | - | 3.40 | 6.45 | 12.55 | 7.50 |
| Other Non Interest Expense | - | 12.08 | 12.63 | 32.19 | 28.10 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Burke & Herbert Financial Services Corp.this co. | BHRB | $1.3B | 10.93 | 1.52 | 13.9% | - |
| Westamerica Bancorporation | WABC | $1.3B | 11.39 | 1.42 | 12.4% | - |
| Goosehead Insurance, Inc. | GSHD | $1.3B | 32.20 | - | -41.5% | - |
| ProAssurance Corporation | PRA | $1.3B | 24.86 | 0.94 | 3.8% | - |
| Amalgamated Financial Corp. |
| 2021 | - | - | - | - | - | - | - |
| AMAL |
| $1.3B |
| 12.12 |
| 1.59 |
| 13.1% |
| - |
| Peoples Bancorp Inc. | PEBO | $1.3B | 11.90 | 1.04 | 8.8% | - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.74 | 1.33 | 17.2% | - |
| Atlanticus Holdings Corporation | ATLC | $1.2B | 10.17 | 2.04 | 20.1% | - |
| Community Trust Bancorp, Inc. | CTBI | $1.2B | 12.51 | 1.43 | 11.5% | - |
| Peer Median | - | 12.01 | 1.42 | 11.9% | - | |