secwatch.observer — SEC 8-K summary
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Issuer:     Burke & Herbert Financial Services Corp. (BHRB)
CIK:        0001964333
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001964333-24-000305
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Burke & Herbert reports Q2 GAAP net loss of $17.1M; adjusted EPS $2.04 on $397M merger
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- Net loss of $17.1M ($1.41 diluted loss per share); adjusted operating net income of $25.0M ($2.04 diluted EPS).
- Net interest income $59.8M; net interest margin (FTE) 4.06%. Provision for credit losses $23.9M including $29.5M CECL Day 2 non-PCD provision.
- Completed Summit merger on May 3 for ~$397.4M aggregate consideration; recorded $32.8M preliminary goodwill.
- Total assets >$7.8B; loans $5.6B, deposits $6.6B; loan-to-deposit ratio 84.6%; CET1 ratio 10.9%.
- Board declared $0.53 per share quarterly dividend, payable Sept 3 to holders of record Aug 15.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1964333/000196433324000305/0001964333-24-000305-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1964333/000196433324000305/bhrb-20240726.htm
  HTML page:      https://secwatch.observer/filing/0001964333-24-000305

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