- Burke & Herbert Financial Services Corp. (BHRB, Financial) reports strong Q1 2025 financial results with $27.0 million in net income, up from $19.6 million in Q4 2024.
- The company declared a $0.55 per share dividend, payable on June 2, 2025, and authorized a $50 million share repurchase program.
- BHRB's loan-to-deposit ratio was 86.3%, with total gross loans of $5.6 billion and deposits of $6.5 billion.
Burke & Herbert Financial Services Corp. (BHRB) has announced robust financial results for the first quarter of 2025. The company reported a net income of $27.0 million, which reflects a notable increase from the $19.6 million recorded in the fourth quarter of 2024. The diluted earnings per share (EPS) rose from $1.30 in Q4 2024 to $1.80 in Q1 2025.
The company has declared a $0.55 per share regular cash dividend, scheduled for payment on June 2, 2025, to shareholders of record as of May 15, 2025. Additionally, the board of directors has authorized a $50 million share repurchase program, offering flexibility in the timing and amount of shares repurchased based on market conditions and other factors.
Key metrics for the bank include total gross loans of $5.6 billion and total deposits of $6.5 billion, leading to a loan-to-deposit ratio of 86.3%. The net interest margin improved to 4.18% from 3.91% in the previous quarter, showcasing enhanced profitability.
The company's balance sheet remains robust with total liquidity at $4.2 billion and strong regulatory capital ratios, including a Common Equity Tier 1 ratio of 11.7% and a leverage ratio of 10.1%, well above regulatory requirements. Asset quality continues to be stable, with adequate reserves and a $67.8 million allowance for credit losses, representing 1.2% of total loans.
