Burke & Herbert Bank & Trust Company ( (BHRB) ) has released its Q4 earnings. Here is a breakdown of the information Burke & Herbert Bank & Trust Company presented to its investors.
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Burke & Herbert Financial Services Corp., the oldest continuously operating bank under its original name in the greater Washington, D.C. area, provides a wide array of financial services across multiple states. The company recently released its fourth quarter and full-year 2024 earnings report, highlighting significant financial metrics and strategic achievements.
In the fourth quarter of 2024, Burke & Herbert reported a net income applicable to common shares of $19.6 million, with an earnings per diluted share of $1.30. The company also completed a merger with Summit Financial Group, enhancing its operational scale and capabilities. Additionally, Burke & Herbert declared a $0.55 per share cash dividend payable in March 2025.
Key financial metrics included a strong balance sheet, with total liquidity of $4.2 billion and total deposits of $6.5 billion. The company’s net interest margin slightly decreased to 3.91%, and the loan-to-deposit ratio ended at 87.1%. Despite merger-related expenses, Burke & Herbert maintained a well-capitalized position with robust capital ratios.
Looking forward, Burke & Herbert remains optimistic about its growth prospects, focusing on delivering increased value to its stakeholders. The management anticipates leveraging the benefits of the recent merger and its substantial liquidity position to capitalize on emerging opportunities in the financial sector.
