Financial Performance - Net income for Q4 2025 was $18.4 million, or $1.87 per share, up from $17.5 million, or $1.75 per share in Q4 2024, representing a 5.1% increase [3]. - For the full year 2025, net income totaled $71.5 million, or $7.23 per share, compared to $65.6 million, or $6.50 per share in 2024, marking a 9.0% increase [3]. - Adjusted net income (non-GAAP) for Q4 2025 was $19.6 million, or $2.00 per share, compared to $17.4 million, or $1.74 per share in Q4 2024, reflecting a 12.7% increase [3]. - Earnings per common share for Q4 2025 was $1.87, compared to $1.75 in Q4 2024, reflecting a year-over-year increase of 6.9% [23]. - Adjusted earnings per share (non-GAAP) increased to $2.00, compared to $1.91 in the prior period, reflecting a rise of 4.7% [25]. Assets and Liabilities - Total assets reached $4.51 billion at December 31, 2025, an increase of $85.7 million during Q4 2025, representing 7.8% annualized growth [11]. - Total liabilities increased to $3,787,721 thousand as of December 31, 2025, from $3,588,452 thousand in 2024 [29]. - Total loans were $3.60 billion at December 31, 2025, with a contraction of $25.0 million during Q4 2025 due to exiting substandard relationships [12]. - Total assets increased to $4,506,095 million from $4,420,411 million, reflecting a growth of 1.94% [24]. - Total loans amounted to $3,604,651 million, a slight decrease from $3,629,663 million [24]. Equity and Dividends - Stockholders' equity totaled $643.8 million at December 31, 2025, reflecting an increase of $4.2 million from the end of 2024 [15]. - The quarterly cash dividend was declared at $0.50 per share, an increase of 11.1% over the prior quarter and prior-year fourth quarter [5][16]. - Stockholders' equity reached $643,836 million, compared to $628,125 million, marking a growth of 2.83% [24]. - Shareholders' equity rose to $631,478 thousand in 2025, compared to $619,784 thousand in 2024 [29]. Income and Expenses - Noninterest income for Q4 2025 was $4.8 million, down from $6.0 million in the prior quarter but up from $4.5 million in Q4 2024 [9]. - Noninterest expense totaled $22.0 million in Q4 2025, compared to $21.1 million in the prior quarter, with $0.7 million related to the acquisition of Centre [10]. - Total noninterest expense for Q4 2025 was $22,012,000, an increase from $20,604,000 in Q4 2024, representing an increase of 6.8% [23]. - The company reported an income tax expense of $4,522,000 for Q4 2025, compared to $4,248,000 in Q4 2024, indicating a rise of 6.4% [23]. Interest Income and Margin - Interest income for Q4 2025 was $56,636,000, an increase from $53,754,000 in Q4 2024, representing a year-over-year growth of 5.5% [23]. - Net interest income after provision for credit losses for Q4 2025 was $40,166,000, compared to $36,561,000 in Q4 2024, reflecting a 10.5% increase [23]. - The net interest margin increased to 4.01%, compared to 3.88% in the previous period [24]. - The net interest margin improved to 4.01% for the three months ended December 31, 2025, compared to 3.61% for the same period in 2024 [27]. - The net interest margin for the year ended December 31, 2025, was 3.82%, compared to 3.65% in 2024 [29]. Efficiency Ratios - Return on average assets improved to 1.65%, up from 1.64% [24]. - Return on average common equity was 11.46%, slightly down from 11.51% [24]. - The average equity to average assets ratio was 14.39%, up from 14.29% [24]. - The annualized return of adjusted earnings on average assets (non-GAAP) was 1.76%, an increase from 1.71% in the previous period [25]. - Tangible equity to tangible assets (non-GAAP) ratio was 10.49%, up from 10.30% in the prior period, indicating improved efficiency [26].

https://files.reportify.cc/media/production/BHRB1 Burke & Herbert Financial Services Corp. Announces Fourth Quarter and Full Year 2025 Results and Declares Common Stock Dividend For Immediate Release January 22, 2026 Alexandria, VA – Burke & Herbert Financial Services Corp. (the "Company" or "Burke & Herbert") (Nasdaq: BHRB) reported financial results for the quarter and the year ended December 31, 2025. In addition, at its meeting on January 22, 2026, the board of directors declared a $0.55 per share regul ...

Financial Performance - Business First reported Q4 2025 net income of $21.0 million or $0.71 per diluted common share, a decrease of $0.5 million and $0.02 from the previous quarter[1]. - For the full year 2025, net income available to common stockholders was $82.5 million or $2.79 per diluted common share, an increase of $22.8 million and $0.53 from 2024[2]. - Core net income for Q4 2025 was $23.5 million or $0.79 per diluted common share, an increase of $2.3 million and $0.07 from the linked quarter[1]. - Basic Earnings per Common Share for Q4 2025 was $0.71, compared to $0.52 in Q4 2024, reflecting a year-over-year increase of 36.5%[45]. - Net income available to common shareholders for the twelve months ended December 31, 2025, was $82,460 thousand, reflecting a significant increase of 38.06% from $59,706 thousand in 2024[53]. - Net income available to common shareholders for Q4 2025 was $21,009,000, up from $15,138,000 in Q4 2024, representing a 39.1% increase year-over-year[64]. - Core net income available to common shareholders for the twelve months ended December 31, 2025, was $83,540,000, compared to $65,759,000 for the same period in 2024, reflecting a 27.0% increase[64]. Asset and Loan Growth - Loans held for investment increased by $168.4 million or 2.80% in Q4 2025, with a 11.10% annualized growth rate[7]. - Total Loans Held for Investment (HFI) increased to $6,189,490 thousand as of December 31, 2025, up from $5,981,399 thousand a year earlier, representing a growth of 3.5%[43]. - Total loans increased to $6,023,214 thousand in 2025 from $5,327,466 thousand in 2024, representing a growth of 13.06%[58]. - Total assets increased to $8,214,740 thousand as of December 31, 2025, up from $7,953,862 thousand in the previous quarter, representing a growth of 3.28%[51]. - Total assets reached $7,873,743 thousand in 2025, compared to $6,973,735 thousand in 2024, marking an increase of 12.92%[58]. Deposits and Interest Income - Deposits rose by $191.7 million or 2.95% in Q4 2025, reflecting an 11.69% annualized growth rate[15]. - Net interest income for Q4 2025 totaled $70.9 million, up from $69.3 million in the previous quarter[20]. - Net interest income for the twelve months ended December 31, 2025, was $465,011 thousand, compared to $414,764 thousand in 2024, reflecting a year-over-year increase of 12.09%[60]. - Net interest income for the three months ended December 31, 2025, was $70,862 thousand, an increase of 7.25% compared to $65,729 thousand for the same period in 2024[53]. - Net interest margin for Q4 2025 was stable at 3.71%, compared to 3.68% in the linked quarter[8]. - The net interest margin for the three months ended December 31, 2025, was 3.71%, up from 3.61% in the same period last year, indicating improved efficiency in earning assets[55]. Asset Quality and Risk Management - The ratio of nonperforming loans increased to 1.24% as of Dec. 31, 2025, up 42 basis points from the previous quarter[12]. - Nonperforming Loans to Total Loans (HFI) ratio rose to 1.24% as of December 31, 2025, up from 0.42% a year ago, indicating a deterioration in asset quality[43]. - The Allowance for Loan Losses to Total Loans (HFI) ratio decreased to 0.87% as of December 31, 2025, down from 0.92% a year earlier, suggesting improved loan quality[43]. - Provision for credit losses for the three months ended December 31, 2025, was $3,098 thousand, a decrease from $6,712 thousand in the same quarter of 2024, suggesting improved asset quality[53]. - The allowance for loan losses decreased to $53,959 thousand as of December 31, 2025, compared to $57,062 thousand in the previous quarter, indicating a positive trend in credit risk management[51]. Shareholder Returns and Dividends - Shareholders' equity increased by $18.4 million or 2.10% compared to the linked quarter, with book value per common share rising to $27.95[18]. - The board declared a quarterly common dividend of $0.15 per share based on Q4 financial performance[3]. - Dividends per Common Share increased to $0.15 in Q4 2025, up from $0.14 in both Q4 2024 and Q3 2025, indicating a stable dividend policy[45]. - Total shareholders' equity as of December 31, 2025, was $896,883,000, up from $799,466,000 a year earlier, indicating a 12.2% increase[69]. - Book value per common share increased to $27.95 as of December 31, 2025, from $24.62 a year earlier, reflecting a 13.4% increase[69]. Operational Efficiency - The Efficiency Ratio for Q4 2025 was 63.10%, compared to 63.91% in Q4 2024, showing improved operational efficiency[45]. - The efficiency ratio for Q3 2025 was 63.10%, compared to 60.45% in Q2 2025, indicating a decline in operational efficiency[73]. - Core efficiency ratio improved to 59.74% in Q3 2025 from 60.94% in Q2 2025, showing enhanced cost management[73].

Financial Performance - Fourth quarter 2025 revenue totaled $3.51 billion, a decrease of 1% year-over-year, primarily due to lower merchandise volume and reduced export coal revenue[7] - Operating income for the fourth quarter was $1.11 billion, with an operating margin of 31.6%, compared to 31.3% in the same quarter of 2024[7] - Net earnings for the fourth quarter were $720 million, or $0.39 per share, reflecting a slight increase from $733 million, or $0.38 per share, in the prior year[7] - For the full year 2025, revenue reached $14.09 billion, while operating income was $4.52 billion, resulting in an operating margin of 32.1%[7] - Adjusted operating income for the full year was $4.69 billion, excluding a $164 million goodwill impairment charge[7] - Full year adjusted EPS was $1.61, compared to $1.79 in 2024, indicating a decrease of 14%[7] - Net earnings for the year ended December 31, 2025, were $2,889 million, a decrease from $3,470 million in 2024[19] - Net cash provided by operating activities decreased to $4,613 million in 2025 from $5,247 million in 2024[19] - Free Cash Flow (FCF) for the year ended December 31, 2025, was $1,789 million, a decrease from $2,784 million in 2024, reflecting a decline of approximately 35.8%[74] - Net Cash Provided by Operating Activities for 2025 was $4,613 million, down from $5,247 million in 2024, indicating a decrease of about 12.1%[74] Expenses and Costs - The company incurred approximately $50 million in severance and technology rationalization expenses during the fourth quarter[2] - Goodwill impairment charges amounted to $164 million in 2025, following a $108 million charge in 2024[24] - Labor and fringe expenses increased by $47 million in the fourth quarter of 2025 compared to the same period in 2024[42] - The company incurred $31 million in employee separation costs and $32 million in increased incentive compensation costs primarily due to prior year adjustments[46] Assets and Liabilities - The company reported total assets of $43.68 billion as of December 31, 2025, an increase from $42.76 billion in 2024[17] - Total liabilities increased slightly to $30.52 billion in 2025, compared to $30.26 billion in 2024[17] Operational Metrics - Total merchandise volume decreased by 2% to 2,594 thousand units in 2025, while intermodal volume increased by 4% to 2,995 thousand units[27] - Total coal tonnage for the year ended December 31, 2025, was 81 million tons, a decrease of 2% from 82.7 million tons in 2024[38] - Total gross ton-miles decreased by 2% to 94.6 billion in Q4 2025 compared to 96.1 billion in Q4 2024[50] - Total revenue ton-miles remained stable at 48.4 billion in Q4 2025, slightly up from 48.3 billion in Q4 2024[50] Safety and Efficiency - The personal injury frequency index improved by 39% to 0.66 in Q4 2025, and the FRA train accident rate improved by 47% to 2.04, highlighting the company's commitment to safety[49] - On-time originations improved to 78% in Q4 2025 from 71% in Q4 2024, while on-time arrivals increased to 67% from 61%[50] - The company reported a 7% increase in train velocity to 19.6 miles per hour and a 13% improvement in dwell time to 9.8 hours compared to Q4 2024[48] Future Outlook - CSX aims to improve financial performance in 2026 by focusing on productivity, cost control, and capital discipline[2] Shareholder Returns - The company repurchased 3 million shares in the fourth quarter of 2025 at an average cost of $35.37 per share, totaling $112 million[22] Fuel and Consumption - Fuel surcharge revenue for the fourth quarter of 2025 was $243 million, up from $221 million in the same quarter of 2024[32] - Estimated locomotive fuel consumption decreased to 91.1 million gallons in Q4 2025 from 94.1 million gallons in Q4 2024, while total locomotive fuel expense increased slightly to $226 million from $224 million[45] - The company reported a total fuel expense of $270 million in Q4 2025, slightly up from $266 million in Q4 2024[45] Capital Expenditures - Property Additions for 2025 amounted to $2,902 million, compared to $2,529 million in 2024, representing an increase of approximately 14.7%[74] - Proceeds and Advances from Property Dispositions increased slightly to $78 million in 2025 from $66 million in 2024, marking an increase of about 18.2%[74] Financial Metrics - Economic profit for 2025 was reported at $1,621 million, down from $2,341 million in 2024, indicating a decrease in returns over the cost of capital[68] - The capital charge remained consistent at 8% for both years, calculated based on gross operating assets[70] - The tax percentage rate was maintained at 15% for both periods presented, applied to operating income and other specified items[69] - Non-interest bearing liabilities totaled $75 million in commercial paper outstanding as of June 30, 2025, with no other periods showing outstanding amounts[69] - Gross operating assets reflect an average of the year-to-date quarters reported for each year presented, providing a basis for financial performance evaluation[70] - FCF is considered a supplemental measure for investors, highlighting cash available for dividends, share repurchases, or debt reduction[72] - The company emphasizes that FCF should be viewed in conjunction with cash provided by operating activities, not as a substitute[72]

Financial Performance - Consolidated revenues decreased 10% to $6.9 billion compared to $7.6 billion in the prior year period [115]. - Net income attributable to D.R. Horton decreased 30% to $594.8 million compared to $844.9 million [124]. - Homebuilding revenues for the three months ended December 31, 2025, were $6.53 billion, a decrease of 8.9% compared to $7.17 billion in the prior year period [159]. - The company reported a pre-tax income of $0.2 million for the three months ended December 31, 2025, a significant decline from $11.9 million in the same period last year [182]. - The company's pre-tax income for the three months ended December 31, 2025, was $798.1 million, a decrease from $1.1 billion in the prior year period [201]. - Net income for the three months ended December 31, 2025, was $535.2 million, compared to $3,154.8 million for the year ended September 30, 2025 [251]. Home Sales and Closings - Homes closed decreased 7% to 17,818 homes, with an average closing price of $365,500, down 3% [124]. - Homes closed in Q4 2025 totaled 17,818, generating revenues of $6.51 billion, down from 19,059 homes and $7.15 billion in Q4 2024, representing a 7% decrease in closing volume and a 3% decrease in average selling price [142]. - Net sales orders increased 3% to 18,300 homes, with the value of net sales orders remaining flat at $6.7 billion [124]. - The cancellation rate for sales orders remained stable at 18% for both Q4 2025 and Q4 2024, with total cancelled sales orders valued at $1.50 billion [137]. - Homes in backlog as of December 31, 2025, totaled 11,376, with a total value of $4.31 billion, reflecting a 3% increase in backlog volume compared to 11,003 homes valued at $4.30 billion in 2024 [138]. Margins and Costs - Home sales gross margin decreased to 20.4% from 22.7% in the prior year period [124]. - The gross profit margin from home sales decreased to 20.4% in Q4 2025 from 22.7% in Q4 2024, attributed to increased average costs and decreased average selling prices [146]. - Selling, General and Administrative (SG&A) expenses decreased by 1% to $632.5 million in Q4 2025, but as a percentage of revenues, SG&A increased to 9.7% from 8.9% in the prior year [153]. Regional Performance - The South Central region saw an 8% increase in net homes sold, totaling 4,931 homes in Q4 2025, while the Northwest region experienced a 9% decrease, selling 923 homes [132]. - Homebuilding revenues in the Southwest region decreased by 22% to $894.7 million in Q4 2025, with pre-tax income dropping to $88.6 million from $168.4 million [163]. - The Southeast region saw a 17% decline in homebuilding revenues to $1.46 billion, with pre-tax income falling to $143.4 million from $222.8 million [166]. - The North region experienced a 5% increase in homebuilding revenues to $989.5 million, but pre-tax income decreased to $119.9 million from $129.8 million [168]. Inventory and Land - As of December 31, 2025, total inventory amounted to $20,239.4 million, a slight decrease from $20,316.5 million on September 30, 2025 [171]. - The company controlled 590,500 lots as of December 31, 2025, with 145,500 lots owned and 445,000 lots under purchase contracts [173]. - The total remaining purchase price of lots controlled through land and lot purchase contracts was $26.7 billion as of December 31, 2025, up from $26.0 billion on September 30, 2025 [174]. - The company acquired SK Builders for approximately $80 million in cash, adding 160 homes in inventory and 260 lots, along with a backlog of 110 homes [158]. Cash Flow and Financing - Cash provided by operating activities was $854.0 million for the three months ended December 31, 2025, compared to $646.7 million in the prior year period [237]. - Net cash used in investing activities was $116.2 million for the three months ended December 31, 2025, including $82.1 million related to a business acquisition [239]. - Net cash used in financing activities was $1.2 billion for the three months ended December 31, 2025, primarily for stock repurchases and mortgage repurchase facilities [241]. - The company expects to fund short-term financing needs with existing cash and cash generated from operations, while long-term needs may be funded through the issuance of senior unsecured debt or equity securities [240]. Debt and Equity - Homebuilding debt was $3.2 billion, unchanged from September 30, 2025 [128]. - The ratio of debt to total capital was 18.8% at December 31, 2025, down from 19.8% at September 30, 2025 [207]. - The company has a $2.305 billion senior unsecured homebuilding revolving credit facility, with an option to increase to $3.0 billion, and $2.04 billion matures on December 18, 2029 [211]. - The company repurchased 4.4 million shares at a total cost of $669.7 million during the three months ended December 31, 2025, with $2.6 billion remaining under the stock repurchase authorization [215]. Rental Operations - Rental revenues decreased to $109.5 million for the three months ended December 31, 2025, down from $217.8 million in the prior year period [182]. - The rental property inventory was valued at $2.9 billion as of December 31, 2025, compared to $2.7 billion on September 30, 2025 [183]. - The gross profit margin for rental operations was 15.2% for the three months ended December 31, 2025, down from 16.0% in the prior year [181]. - Single-family rental homes inventory included 1,330 homes as of December 31, 2025, down from 1,420 homes on September 30, 2025 [183]. Future Outlook - The company plans to manage home pricing, sales incentives, and inventory levels based on local market demand, indicating a focus on affordability amid ongoing market challenges [136]. - The company expects to maintain elevated incentive levels throughout fiscal 2026, depending on market conditions and mortgage interest rates [148]. - The company anticipates greater revenues and pre-tax income in the third and fourth quarters of its fiscal year due to seasonal patterns in homebuilding [254].

Revenue and Sales Performance - For the three months ended December 31, 2025, total revenues increased by 9% to $273.0 million compared to $250.4 million in the prior year period[88]. - The company sold 1,944 lots with an average sales price of $121,000, resulting in a 5% decrease in total residential lot sales revenue due to a 17% decrease in lots sold[88]. - The average sales price per lot increased by 15% compared to the prior year period, primarily due to changes in the regional mix of lot sales[88]. Income and Expenses - Pre-tax income for the three months ended December 31, 2025 was $20.8 million, down from $21.9 million in the prior year period, with a pre-tax operating margin of 7.6% compared to 8.7%[88]. - SG&A expense as a percentage of revenues decreased to 13.4% in the three months ended December 31, 2025, down from 14.4% in the prior year period[102]. Financial Position and Liquidity - The company had a total lot position of 101,000 residential lots as of December 31, 2025, with 65,600 owned and 35,400 controlled through purchase contracts[85]. - Liquidity position included $211.7 million in cash and cash equivalents and $607.6 million in available borrowing capacity on the revolving credit facility[107]. - The ratio of debt to total capital was 30.8% at December 31, 2025, a decrease from 31.2% at September 30, 2025[108]. Debt and Credit Facilities - The company has a $665 million senior unsecured revolving credit facility, which can be increased to $1 billion under certain conditions[110]. - As of December 31, 2025, there were no borrowings outstanding under the revolving credit facility, with $57.4 million in letters of credit issued, resulting in an available capacity of $607.6 million[110]. - The company has $300 million principal amount of 5.0% senior notes maturing on March 1, 2028, with an annual effective interest rate of 5.2%[113]. - The company also has $500 million principal amount of 6.5% senior notes maturing on March 15, 2033, with an annual effective interest rate of 6.7%[114]. Cash Flow - In the three months ended December 31, 2025, net cash used in operating activities was $157.0 million, a decrease from $450.0 million in the same period of 2024[120]. - Net cash used in financing activities for the three months ended December 31, 2025, was $10.4 million, primarily due to the repayment of a $9.9 million note payable[122]. Investment and Repurchase Plans - The company plans to remain disciplined in land investments and manage lot sales pace and pricing to optimize returns[91]. - The company has an effective shelf registration statement for $750 million of equity securities, with $300 million reserved for an at-the-market equity offering program[119]. - The company has authorized the repurchase of up to $30 million of its debt securities, with the full amount remaining available as of December 31, 2025[117]. Compliance and Covenants - The company was in compliance with all financial covenants of its revolving credit facility as of December 31, 2025[111]. - The company repaid a $9.9 million principal amount of a note payable in December 2025, which was secured by real estate[118].

Financial Performance - Net income for Q4 2025 was $22.2 million, an increase of 15.6% from $19.2 million in Q3 2025 and 86.1% from $11.9 million in Q4 2024[3] - Diluted earnings per share rose to $0.65 in Q4 2025, compared to $0.55 in Q3 2025 and $0.34 in Q4 2024, marking a 29% year-over-year growth[3] - Net income for the quarter was $22,237,000, representing a 15.5% increase from $19,169,000 in the same quarter of the previous year[40] - Basic earnings per share increased to $0.66 from $0.56 year-over-year, marking a growth of 17.9%[40] - Net income (GAAP) for Q4 2025 was $22,237 million, an increase from $19,169 million in Q3 2025, representing a growth of 10.6%[60] - Tangible net income (non-GAAP) for Q4 2025 reached $22,462 million, up from $19,393 million in Q3 2025, marking an increase of 15.7%[60] - Adjusted tangible net income (non-GAAP) for Q4 2025 was $22,766 million, compared to $19,895 million in Q3 2025, reflecting a growth of 14.7%[60] Interest Income and Margin - Net interest income increased by $1.0 million, or 1.7%, from Q3 2025, with a net interest margin of 3.72%, up 8 basis points from 3.64%[4] - Net interest income rose by $4.6 million, or 8.6%, during the fourth quarter of 2025 compared to the same period in the prior year[23] - Total interest income for the fourth quarter of 2025 was $58.361 million, with a net interest margin of 3.72%[25] - Net interest income for Q4 2025 was $58,361,000, an increase from $57,371,000 in Q3 2025 and $54,983,000 in Q2 2025[46] - The net interest margin improved to 3.58% for the year ended December 31, 2025, compared to 3.31% in the previous year[42] Deposits and Loans - Total deposits grew by $62.7 million, or 1.1%, reaching $5.92 billion at the end of Q4 2025[10] - Loans receivable increased by $14.1 million, or 0.3%, during Q4 2025, with new loans funded totaling $173.1 million[8] - Non-maturity deposits rose by $75.1 million, or 1.5%, primarily due to increased customer balances in interest-bearing demand accounts[10] - Total deposits rose to $5,920,199 thousand, an increase of 1.07% from $5,857,464 thousand in the previous quarter[38] Expenses and Efficiency - Noninterest expense decreased by $132,000, or 0.3%, to $41.5 million in Q4 2025 compared to Q3 2025[29] - The efficiency ratio improved to 62.5% from 63.3% in Q3 2025, indicating better operational efficiency[4] - Total noninterest expense for the quarter was $41,483,000, slightly down from $41,615,000 in the previous year[40] - Adjusted efficiency ratio (non-GAAP) improved to 61.9% in Q4 2025 from 62.4% in Q3 2025, indicating enhanced operational efficiency[63] Tax and Shareholder Returns - Income tax expense increased by $305,000 to $3.4 million in Q4 2025, driven by higher pre-tax income[32] - The effective income tax rate for Q4 2025 was 13.4%, down from 27.0% in Q4 2024[33] - The Company declared a quarterly cash dividend of $0.24 per share, payable on February 11, 2026[34] Asset Quality and Capital - The allowance for credit losses on loans decreased to 1.10% at December 31, 2025, from 1.13% at September 30, 2025, with a $0.9 million reversal of provision for credit losses recorded[14] - Classified loans increased by $22.4 million, raising the percentage of classified loans to 2.4% at December 31, 2025, compared to 2.0% at September 30, 2025[17] - Total stockholders' equity rose by $17.4 million, or 1.9%, to $921.5 million at December 31, 2025, driven by $22.2 million in net income for the quarter[12] - The common equity tier 1 capital ratio improved to 12.7% from 12.4%, indicating stronger capital adequacy[48] Future Outlook - The company received regulatory and shareholder approvals for the acquisition of Olympic Bancorp, expected to close by January 31, 2026[4] - The Company will hold an earnings conference call on January 22, 2026, at 10:00 a.m. Pacific time[35]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-31400 __________________________________ CACI International Inc (Exact name of registrant a ...

Financial Performance - Preliminary earnings for Q4 2025 were $1.45 per diluted common share, up from $1.27 in Q4 2024, with net income increasing to $16.3 million from $14.9 million[2]. - Full-year 2025 net income reached $71.0 million, or $6.19 per diluted common share, compared to $61.8 million, or $5.26 per diluted common share, in 2024[2]. - Net income for the year ended December 31, 2025, was $70,973 thousand, an increase of 14.0% compared to $61,807 thousand in 2024[47]. - Earnings per common share for the year ended December 31, 2025, rose to $6.23, up from $5.28 in 2024, marking an increase of about 18.0%[53]. Asset and Loan Management - Total assets decreased to $5,598,606 thousand as of December 31, 2025, from $5,981,628 thousand in 2024, representing a decline of approximately 6.4%[47]. - Total net loans decreased by $333.5 million (7.1%) from $4.69 billion at December 31, 2024, to $4.36 billion at December 31, 2025[4]. - Loans receivable, net of allowance for credit losses, stood at $4,356,853 thousand as of December 31, 2025, compared to $4,690,393 thousand in December 2024, a decrease of about 7.1%[50]. - Total loans receivable decreased to $4,452,057 thousand with an average yield of 5.90% for the three months ended December 31, 2025, compared to $4,785,690 thousand and 5.93% for the same period in 2024[56]. Non-Performing Assets - Non-performing assets decreased to $8.1 million (0.15% of total assets) at December 31, 2025, down from $9.6 million (0.16% of total assets) at December 31, 2024[4]. - Non-performing assets decreased to $8,130 thousand in 2025 from $9,566 thousand in 2024, indicating a reduction of approximately 15.0%[47]. - Non-performing loans increased by $366,000 compared to September 30, 2025, totaling $2.094 million at December 31, 2025[28]. - Potential problem loans decreased by $8,000 to $1.390 million at December 31, 2025[31]. Income and Expenses - Net interest income for Q4 2025 decreased by $371,000 (0.7%) to $49.2 million, primarily due to the end of income recognition from a previously-terminated interest rate swap[4]. - Non-interest income increased to $29,052 thousand for the year ended December 31, 2025, compared to $30,565 thousand in 2024, reflecting a decrease of approximately 4.9%[47]. - Non-interest expense for Q4 2025 was approximately $36.0 million, consistent with the prior-year quarter and the third quarter of 2025[5]. - Non-interest expense decreased by $947,000 to $36.0 million, with an efficiency ratio of 63.89%, down from 65.43% in the same quarter of 2024[13]. Equity and Dividends - Total stockholders' equity increased by $36.6 million to $636.1 million, with a book value of $57.50 per common share, compared to $51.14 per share at December 31, 2024[15]. - Total stockholders' equity increased to $636,126 thousand as of December 31, 2025, from $599,568 thousand in December 2024, reflecting an increase of approximately 6.1%[50]. - Dividends declared per common share increased to $0.43 for the three months ended December 31, 2025, up from $0.40 in the same period of 2024, representing a growth of 7.5%[53]. Future Outlook and Strategic Initiatives - The Company opened a new banking center in Springfield, Mo., on October 20, 2025, designed as a next-generation facility[37]. - The Company plans to transition its Cottleville banking center to a drive-thru Express Center in Spring 2026, marking its first in the St. Louis market[38]. - The Company will consolidate its Edina, Minn., banking center operations with another location by the end of January 2026[39]. - The Company will host a conference call on January 22, 2026, to discuss fourth quarter 2025 preliminary earnings[40].

Financial Performance - Net income for Q4 2025 was $16.1 million, a decrease of 2.2% from $16.5 million in Q3 2025[8] - Diluted earnings per share (EPS) for Q4 2025 were $0.93, down from $0.95 in Q3 2025[7] - Annualized return on assets (ROA) for Q4 2025 was 1.44%, compared to 1.48% in Q3 2025[7] - Annualized return on equity (ROE) for Q4 2025 was 10.63%, down from 11.10% in Q3 2025[7] - For the full year 2025, net income was $64.4 million, an increase of 17.5% from $54.8 million in 2024[7] - Net income for the year ended December 31, 2025, totaled $64.4 million, or $3.72 per diluted share, representing an increase of $9.6 million, or 17.4%, compared to the previous year[19] - Net income for the year ended December 31, 2025, was $64,364,000, representing a 17.3% increase from $54,805,000 in 2024[48] Income and Expenses - Total interest and dividend income for the year ended December 31, 2025, decreased by $5.5 million, or 2.1%, compared to the previous year, with loan interest income down by $7.2 million, or 2.9%[25] - Total interest expense for the year ended December 31, 2025, decreased by $12.7 million, or 13.8%, primarily due to a $9.8 million decrease in interest expense on deposits[26] - Noninterest income for the three months ended December 31, 2025, increased by $645,000, or 7.4%, compared to the previous quarter, totaling $9.396 million[17] - Loan income and fees increased by $349,000, or 60%, to $926,000 for the three months ended December 31, 2025, primarily due to a rise in interest rate swap fees[17] - Noninterest expense for the three months ended December 31, 2025, increased by $428,000, or 1.4%, totaling $31.694 million[18] - Noninterest income increased by $2.9 million, or 8.6%, to $36.331 million, driven by a $1.415 million increase in gain on sale of loans held for sale[29] - Noninterest expense decreased by $321,000, or 0.3%, to $125.176 million, with a notable decrease in computer services expense by $1.853 million, or 15%[30] Asset and Liability Management - Total assets decreased by $49.8 million to $4.5 billion, while total liabilities decreased by $98.7 million to $3.9 billion[34] - Total loans, net of deferred loan fees and costs, were $3.58 billion as of December 31, 2025, compared to $3.64 billion as of September 30, 2025[46] - Deposits increased to $3.71 billion as of December 31, 2025, from $3.70 billion as of September 30, 2025[46] - Total interest and dividend income for Q4 2025 was $63,467,000, a decrease of 2.8% from $65,395,000 in Q3 2025[48] - Total interest-earning assets decreased by $4.18 million due to a decrease in loans receivable of $7.24 million and a decrease in other interest-earning assets of $1.007 million[27] Credit Quality - Provision for credit losses in Q4 2025 was $2.1 million, slightly up from $2.0 million in Q3 2025[7] - The company reported a $607,000 decrease in the provision for credit losses for the year ended December 31, 2025[19] - Provision for credit losses decreased by $607,000, or 8%, to $6.938 million, with loans provision decreasing by $1.995 million, or 27%[27] - Net loan charge-offs totaled $9.3 million, down from $10.8 million in the prior year, with annualized net charge-offs as a percentage of average loans at 0.24%[38] - Nonperforming assets increased by $15.7 million, or 54.4%, to $44.4 million, representing 0.98% of total assets[40] - Nonperforming loans to total loans ratio increased to 1.22% in Q4 2025 from 0.89% in Q3 2025, indicating a decline in asset quality[53] Equity and Capital Management - Stockholders' equity increased by $48.9 million, or 8.9%, to $600.7 million, supported by $64.4 million in net income[35] - The total stockholders' equity was $600.7 million as of December 31, 2025, compared to $595.8 million as of September 30, 2025[46] - Tangible book value as of December 31, 2025, was $562,846,000, up from $551,758,000 a year earlier[58] - Tangible book value per share increased to $32.56 as of December 31, 2025, compared to $29.24 a year prior[58] - Tangible equity to tangible assets ratio improved to 12.49% as of December 31, 2025, from 11.25% a year earlier[58] Operational Efficiency - The efficiency ratio improved to 59.12% in Q4 2025, compared to 57.75% in Q3 2025, indicating increased operational efficiency[51] - Adjusted efficiency ratio for Q4 2025 was 58.80%, an improvement from 57.28% in Q3 2025, and 60.28% for the full year 2024[58] Strategic Initiatives - HomeTrust Bancshares plans to accelerate loan growth in 2026, supported by a robust capital base and strategic vision[4] - The company has implemented strategies to assist customers in recovery efforts post-Hurricane Helene, including payment deferrals[42] - The company has been recognized as one of Bank Director's "Best U.S. Banks" and one of Forbes' "America's Best Banks"[43]