XML 78 R59.htm IDEA: XBRL DOCUMENT
v3.25.1

Parent Company Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheet | The following tables summarize condensed financial statements for Burke & Herbert Financial Services Corp., which commenced operations as a holding company on October 1, 2022, as of and for the years ended December 31, 2024, and December 31, 2023 (in thousands):
Parent Company Only Condensed Balance Sheet |  | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |
Cash and cash equivalents |  | $ | 8,320 |  |  | $ | 284 |
Investment in banking subsidiary |  | 833,630 |  |  | 313,364 |
Other assets |  | 73,392 |  |  | 1,653 |
Total assets |  | $ | 915,342 |  |  | $ | 315,301 |
Liabilities |  |  |  |
Subordinated debentures, net |  | 94,872 |  |  | — |
Subordinated debentures owed to unconsolidated subsidiary trusts |  | 17,013 |  |  | — |
Accrued expenses and other liabilities |  | $ | 5,828 |  |  | $ | 551 |
Total liabilities |  | 117,713 |  |  | 551 |
Total Shareholders’ Equity |  | 797,629 |  |  | 314,750 |
Total Liabilities and Shareholders’ Equity |  | $ | 915,342 |  |  | $ | 315,301 |
Schedule of Condensed Statement of Income |
Parent Company Only Condensed Statement of Income |  | December 31, 2024 |  | December 31, 2023
Income |  |  |  |
Dividends from bank subsidiary |  | $ | 23,869 |  |  | $ | 18,997 |
Total Income |  | 23,869 |  |  | 18,997 |
Expense |  |  |  |
Salaries and employee benefit |  | 6,949 |  |  | 2,052 |
Interest expense |  | 7,412 |  |  | — |
Other operating expenses |  | 7,863 |  |  | 4,826 |
Total Expense |  | 22,224 |  |  | 6,878 |
Income (loss) before income tax benefit and equity in undistributed income of subsidiaries |  | 1,645 |  |  | 12,119 |
Income tax benefit |  | 4,718 |  |  | 1,445 |
Income (loss) before equity in undistributed income of subsidiaries |  | 6,363 |  |  | 13,564 |
Equity in undistributed earnings of subsidiary |  | 29,345 |  |  | 9,128 |
Net Income |  | 35,708 |  |  | 22,692 |
Preferred stock dividends |  | 675 |  |  | — |
Net income applicable to common shares |  | $ | 35,033 |  |  | $ | 22,692 |
Schedule of Condensed Statement of Cash Flows |
Parent Company Only Condensed Statement of Cash Flows |  | December 31, 2024 |  | December 31, 2023
Cash Flows from Operating Activities |  |  |  |
Net income |  | $ | 35,708 |  |  | $ | 22,692 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |
Equity in undistributed income of subsidiaries |  | (29,345) |  |  | (9,128) |
Share-based compensation |  | 2,879 |  |  | 2,464 |
Deferred income taxes |  | (773) |  |  | (539) |
Net change in other assets |  | 24,446 |  |  | (899) |
Net change in other liabilities |  | 3,498 |  |  | (906) |
Net cash flows provided by operating activities |  | $ | 36,413 |  |  | $ | 13,684 |
Cash Flows from Investing Activities |  | — |  |  | — |
Net cash (used in) provided by investing activities |  | $ | — |  |  | $ | — |
Cash Flows from Financing Activities |  |  |  |
Proceeds from employee stock purchase program |  | 259 |  |  | 206 |
Dividends paid |  | (28,636) |  |  | (15,747) |
Treasury stock transactions |  | — |  |  | 141 |
Net cash (used in) financing activities |  | $ | (28,377) |  |  | $ | (15,400) |
Increase in cash and cash equivalents |  | $ | 8,036 |  |  | $ | (1,716) |
Cash and cash equivalents |  |  |  |
Beginning of the year |  | $ | 284 |  |  | $ | 2,000 |
End of the year |  | 8,320 |  |  | 284 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration