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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 | 13.7% | 31.5% | 228.5% |
| 2024 | $257M | - | $36M | $81M | 4.9% | 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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 118.53 | 109.14 | 256.55 | 337.27 |
| Operating Expense | 79.88 | 85.62 | 0 | 0 |
| Pretax Income | 52.30 | 25.06 | 39.90 | 144.94 |
| Tax Provision | 8.29 | 2.37 | 4.19 | 27.63 |
| Net Income | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income Common Stockholders | 44.01 | 22.69 | 35.03 | 116.41 |
| Interest Expense | 8.94 | 53.14 | 140.38 | 149.08 |
| Interest Income | 112.63 | 147.54 | 367.06 | 444.99 |
| Selling General And Administration | 51.36 | 52.98 | 101.49 | 109.40 |
| Normalized Income | 40.20 | 22.69 | 35.71 | 117.31 |
| Basic EPS | 5.93 | 3.05 | 2.34 | 0 |
| Diluted EPS | 5.89 | 3.05 | 2.34 | 0 |
| Tax Effect Of Unusual Items | 0.72 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.16 | 0.10 | 0.10 | 0.19 |
| Total Unusual Items | 4.53 | -0.04 | -2.18 | 0 |
| Total Unusual Items Excluding Goodwill | 4.53 | -0.04 | -2.18 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 44.01 | 22.69 | 35.71 | 117.31 |
| Reconciled Depreciation | 3.05 | 2.87 | 17.41 | 22.72 |
| Net Interest Income | 103.69 | 94.40 | 226.69 | 295.91 |
| Net Income From Continuing And Discontinued Operation | 44.01 | 22.69 | 35.71 | 117.31 |
| Rent Expense Supplemental | 5.77 | 5.77 | 0 | 0 |
| Diluted Average Shares | 7.47 | 7.43 | 14.97 | 0 |
| Basic Average Shares | 7.43 | 7.43 | 14.97 | 0 |
| Diluted NI Availto Com Stockholders | 44.01 | 22.69 | 35.03 | 116.41 |
| Preferred Stock Dividends | 0 | 0 | 0.68 | 0.90 |
| Net Income Including Noncontrolling Interests | 44.01 | 22.69 | 35.71 | 117.31 |
| Net Income Continuous Operations | 44.01 | 22.69 | 35.71 | 117.31 |
| Special Income Charges | 4.53 | -0.04 | -2.18 | 0 |
| Other Special Charges | -4.53 | 0.04 | 2.18 | 0 |
| Gain On Sale Of Security | -0.45 | -0.11 | 1.36 | 0.15 |
| Other Operating Expenses | 13.76 | 14.17 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 0 | 0 | 11.46 | 15.55 |
| Depreciation And Amortization In Income Statement | 0 | 0 | 11.46 | 15.55 |
| Amortization | 0 | 0 | 11.46 | 15.55 |
| Amortization Of Intangibles Income Statement | 0 | 0 | 11.46 | 15.55 |
| Depreciation Income Statement | 5.77 | 0 | 0 | 0 |
| Selling And Marketing Expense | 1.03 | 0.46 | 1.89 | 1.91 |
| General And Administrative Expense | 50.33 | 52.52 | 99.59 | 107.49 |
| Insurance And Claims | 1.25 | 1.96 | 3.33 | 3.90 |
| Rent And Landing Fees | 11.39 | 11.80 | 0 | 0 |
| Salaries And Wages | 49.08 | 50.57 | 96.27 | 103.58 |
| Operating Revenue | 118.53 | 109.14 | 256.55 | 337.27 |
| Occupancy And Equipment | 11.39 | 11.80 | 34.75 | 30.27 |
| 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 | $957M | 8.25↓ discount | 1.12 | 13.7% | - |
| Capitol Federal Financial, Inc. | CFFN | $997M | 14.39 | 0.93 | 6.5% | - |
| Employers Holdings, Inc. | EIG | $983M | 75.51 | 0.85 | 1.1% | - |
| loanDepot, Inc. | LDI | $978M | - | 1.46 | -16.2% | - |
| Virtus Investment Partners, Inc. |
| VRTS |
| $977M |
| 6.93 |
| 1.03 |
| 14.8% |
| 8.04 |
| Amerant Bancorp Inc. | AMTB | $960M | 16.11 | 1.01 | 5.6% | - |
| Equity Bancshares, Inc. | EQBK | $941M | 38.39 | 1.15 | 3.1% | - |
| MetroCity Bankshares, Inc. | MCBS | $916M | 11.50 | 1.69 | 12.6% | - |
| Horizon Bancorp, Inc. | HBNC | $914M | - | 1.31 | -21.9% | - |
| Peer Median | - | 15.25 | 1.09 | 4.3% | 8.04 | |