0001964333-25-000180 | 10-Q | XBRL Viewer | Burke Herbert Financial Services Corp

Fair Value Measurements

Determination of Fair Value

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 – Significant unobservable inputs that reflect our own assumptions that market participants would use in pricing an asset or liability.

In instances in which multiple levels of inputs are used to measure fair value, hierarchy classification is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

The Company used the following methods and significant assumptions to estimate fair value:

Investment securities

The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2), using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on securities’ relationship to other benchmark quoted securities (Level 2 inputs). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3).

Equity Investments

Equity investments are recorded at fair value on a recurring basis, with changes in fair value reported in net income. Through the Merger, at March 31, 2025, we acquired an investment in an S&P 500 index mutual fund that is traded on an exchange, and we classify it as Level 2.

Through the Merger, we acquired perpetual preferred stock of a bank holding company issued in October 2022 in a private offering. The perpetual preferred stock does not trade on an exchange or in an active over-the-counter market; therefore, we estimate its fair value using the present value of its future cash flows using observed discount rates of similar publicly-traded securities, adjusted for a liquidity premium. We classify the perpetual preferred stock as Level 2.

Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment. Such equity securities are included in other assets on the accompanying Consolidated Balance Sheets.

Derivatives

The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). The Company has contracted with a third-party vendor to provide valuations for interest rate swaps using standard swap valuation techniques. The Company has considered counterparty credit risk in the valuation of its interest rate swap assets and has considered its own credit risk in the valuation of its interest rate swap liabilities. The Company recognizes interest rate lock commitments at fair value. Fair value of interest rate lock commitments is based on the price of underlying loans obtained from an investor for loans that will be delivered on a best effort basis (Level 2).

Loans held-for-sale, at fair value

The fair value of loans held-for-sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan (Level 2). These loans currently consist of one-to-four family residential loans originated for sale in the secondary market.

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at March 31, 2025, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies	$	151,793	$	—	$	—	$	151,793
Obligations of states and municipalities	—		716,545		—		716,545
Residential mortgage backed - agency	—		53,893		—		53,893
Residential mortgage backed - non-agency	—		246,032		—		246,032
Commercial mortgage backed - agency	—		40,811		—		40,811
Commercial mortgage backed - non-agency	—		135,010		—		135,010
Asset-backed	—		60,786		—		60,786
Other	—		31,999		—		31,999
Total investment securities available-for-sale	$	151,793	$	1,285,076	$	—	$	1,436,869

Loans held-for-sale, at fair value	$	—	$	1,302	$	—	$	1,302

Equity investments	$	—	$	12,258	$	—	$	12,258

Derivatives	$	—	$	2,105	$	—	$	2,105

Financial liabilities
Derivatives	$	—	$	1,810	$	—	$	1,810


	Fair Value Measurements at December 31, 2024, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies	$	149,127	$	—	$	—	$	149,127
Obligations of states and municipalities	—		698,724		—		698,724
Residential mortgage backed - agency	—		53,186		—		53,186
Residential mortgage backed - non-agency	—		247,876		—		247,876
Commercial mortgage backed - agency	—		33,071		—		33,071
Commercial mortgage backed - non-agency	—		154,511		—		154,511
Asset-backed	—		64,056		—		64,056
Other	—		31,820		—		31,820
Total investment securities available-for-sale	$	149,127	$	1,283,244	$	—	$	1,432,371

Loans held-for-sale, at fair value	$	—	$	2,331	$	—	$	2,331

Equity investments	$	—	$	12,407	$	—	$	12,407

Derivatives	$	—	$	3,191	$	—	$	3,191

Financial liabilities
Derivatives	$	—	$	1,988	$	—	$	1,988

The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a non-recurring basis in the financial statements:

Collateral dependent loans

Loans for which the borrower is experiencing financial difficulty and repayment is dependent upon the operation or sale of collateral, are considered collateral-dependent. For collateral-dependent loans, the fair value is measured based on the value of the collateral securing the loans, less estimated costs of disposal. Collateral may be in the form of real estate or business assets, including equipment, inventory, and accounts receivable. The vast majority of the collateral underlying collateral-dependent loans is real estate, the fair value of which is measured through an appraisal. The appraisals of the collateral supporting collateral-dependent loans may utilize a single valuation approach or a combination of approaches, including comparable sales and the income approach. Any fair value adjustments are recorded in the period incurred as provision for (recapture of) credit losses on the Consolidated Statements of Income. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business.

Other real estate owned

Assets acquired through foreclosure or other proceedings are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The fair value of foreclosed properties is determined on a nonrecurring basis generally utilizing current appraisals performed by an independent, licensed appraiser applying an income or market value approach using observable market data. Updated appraisals of foreclosed properties are generally obtained if the existing appraisal is more than 18 months old or more frequently if there is a known deterioration in value. However, if a current appraisal is not available, the original appraised value is discounted, as appropriate, to compensate for the estimated depreciation in the value of the real estate since the date of its original appraisal. Such discounts are generally estimated based upon management’s knowledge of sales of similar property within the applicable market area and its knowledge of other real estate market-related data as well as general economic trends. Upon foreclosure, any fair value adjustment is charged against the allowance for credit losses on loans. Subsequent fair value adjustments are recorded in the period incurred and included in other noninterest expense in the Consolidated Statements of Income.

Assets that were measured at fair value on a non-recurring basis during the period are summarized below (in thousands):


	Fair Value Measurements at March 31, 2025, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent loans
Commercial real estate	$	—	$	—	$	1,186	$	1,186
Owner-occupied commercial real estate	—		—		—		—
Acquisition, construction & development	—		—		232		232
Commercial & industrial	—		—		—		—
Single family residential	—		—		—		—
Consumer non-real estate and other	—		—		—		—
Other real estate owned	—		—		2,625		2,625


	Fair Value Measurements at December 31, 2024, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent loans
Commercial real estate	$	—	$	—	$	2,668	$	2,668
Owner-occupied commercial real estate	—		—		—		—
Acquisition, construction & development	—		—		232		232
Commercial & industrial	—		—		249		249
Single family residential	—		—		872		872
Consumer non-real estate and other	—		—		—		—
Other real estate owned	—		—		2,783		2,783

The following table presents quantitative information about Level 3 Fair Value Measurements for assets measured at fair value on a non-recurring basis at March 31, 2025, and December 31, 2024 (in thousands except for percentages):

Description

Fair Value

Valuation Techniques

Unobservable Inputs

Range

March 31, 2025

Collateral dependent loans

1,418

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,625

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

December 31, 2024

Collateral dependent loans

4,021

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,783

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Fair value of financial instruments

The carrying amounts and estimated fair values of financial instruments not carried at fair value, at March 31, 2025, and December 31, 2024, were as follows (in thousands):


			Fair Value Measurements at March 31, 2025, Using:
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets
Cash and due from banks	$	63,294	$	63,294	$	—	$	—	$	63,294
Interest-earning deposits with banks	85,552		85,552		—		—		85,552
Loans, net	5,579,754		—		—		5,448,804		5,448,804
Accrued interest	34,481		—		34,481		—		34,481

Financial Liabilities
Non-interest-bearing deposits	$	1,382,427	$	—	$	1,382,427	$	—	$	1,382,427
Interest-bearing deposits	5,159,444		—		5,151,550		—		5,151,550
Short-term borrowings	300,000		—		299,696		—		299,696
Subordinated debentures, net	96,212		—		94,334		—		94,334
Subordinated debentures owed to unconsolidated subsidiary trusts	17,077		—		16,321		—		16,321
Accrued interest	6,075		—		6,075		—		6,075


			Fair Value Measurements at December 31, 2024, Using:
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets
Cash and due from banks	$	35,554	$	35,554	$	—	$	—	$	35,554
Interest-bearing deposits with banks	99,760		99,760		—		—		99,760
Loans, net	5,604,196		—		—		5,465,722		5,465,722
Accrued interest	34,454		—		34,454		—		34,454

Financial Liabilities
Non-interest-bearing deposits	$	1,379,940	$	—	$	1,379,940	$	—	$	1,379,940
Interest-bearing deposits	5,135,299		—		5,126,423		—		5,126,423
Short-term borrowings	365,000		—		364,985		—		364,985
Subordinated debentures, net	94,872		—		91,760		—		91,760
Subordinated debentures owed to unconsolidated subsidiary trusts	17,013		—		14,587		—		14,587
Accrued interest	6,157		—		6,157		—		6,157

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Accumulated Other Comprehensive Income (Loss)

Leased Property - Schedule of Lease, Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Finance lease cost
Right-of-use asset amortization	$ 71	$ 71
Interest expense	27	28
Operating lease cost	834	634
Total lease cost	$ 932	$ 733

Leased Property

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leased Property

Lessor Arrangements

The Company enters into operating leases with customers to lease vacant space in certain owned premises that is not being used by the Company. These operating leases are typically payable in monthly installments with terms ranging from around one year to around ten years and may contain renewal options. The components of lease income, which were included in non-interest expense on the Consolidated Statements of Income, were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Operating lease income	$	693	$	575
Total lease income	$	693	$	575

The remaining maturities of operating lease receivables as of March 31, 2025, are as follows (in thousands):


	Operating Leases
Remaining nine months ending, December 31, 2025	$	2,009
2026	2,371
2027	2,124
2028	2,061
2029	2,015
Thereafter	2,833
Total lease receivables	$	13,413

Lessee Arrangements

The Company has entered into leases for branches and office space. The leases are evaluated for whether the lease will be classified as either a finance or operating lease. Certain leases offer the option to extend the lease term, and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. Including renewal options, the terms of the Company’s leases range from less than one year to around thirteen years. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations.

Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. These cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. The right-of-use asset and lease liability are included in other assets and other liabilities, respectively, in the Consolidated Balance Sheets.

Right-of-use assets and liabilities by lease type, and the associated balance sheet classifications are as follows (in thousands):


	Balance Sheet Classification	March 31, 2025		December 31, 2024
Right-of-use assets:
Operating leases	Other assets	$	12,520	$	13,203
Finance leases	Other assets	3,241		3,312
Total right-of-use assets		$	15,761	$	16,515
Lease liabilities:
Operating leases	Other liabilities	$	12,960	$	13,586
Finance leases	Other liabilities	3,563		3,620
Total lease liabilities		$	16,523	$	17,206

The components of total lease cost were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Finance lease cost
Right-of-use asset amortization	$	71	$	71
Interest expense	27		28
Operating lease cost	834		634
Total lease cost	$	932	$	733

The Company’s future undiscounted lease payments for finance and operating leases with initial terms of one year or more as of March 31, 2025, are as follows (in thousands):


	Operating Leases		Finance Leases
Remaining nine months ending, December 31, 2025	$	2,352	$	251
2026	2,659		340
2027	2,237		347
2028	1,897		354
2029	1,748		361
Thereafter	4,772		2,628
Total undiscounted lease payments	15,665		4,281
Less: discount	(2,705)		(718)

Net lease liabilities	$	12,960	$	3,563

The following table presents additional information about the Company’s leases as of March 31, 2025, and December 31, 2024.


Supplemental lease information (dollars in thousands)	March 31, 2025			December 31, 2024
Finance lease weighted average remaining lease term (years)	11.50			11.75
Finance lease weighted average discount rate	3.07		%	3.06		%
Operating lease weighted average remaining lease term (years)	6.74			6.84
Operating lease weighted average discount rate	4.66		%	4.65		%

	Three Months Ended March 31,
Cash paid for amounts included in the measurement of lease liabilities	2025			2024
Operating cash flows from operating leases	$	778		$	644
Operating cash flows from finance leases	27			28
Financing cash flows from finance leases	56			53
Right-of-use assets obtained in exchange for new finance lease liabilities	—			—
Right-of-use assets obtained in exchange for new operating lease liabilities	—			—

Leased Property

Lessor Arrangements


	Three Months Ended March 31,
	2025		2024
Operating lease income	$	693	$	575
Total lease income	$	693	$	575

The remaining maturities of operating lease receivables as of March 31, 2025, are as follows (in thousands):


	Operating Leases
Remaining nine months ending, December 31, 2025	$	2,009
2026	2,371
2027	2,124
2028	2,061
2029	2,015
Thereafter	2,833
Total lease receivables	$	13,413

Lessee Arrangements

Right-of-use assets and liabilities by lease type, and the associated balance sheet classifications are as follows (in thousands):


	Balance Sheet Classification	March 31, 2025		December 31, 2024
Right-of-use assets:
Operating leases	Other assets	$	12,520	$	13,203
Finance leases	Other assets	3,241		3,312
Total right-of-use assets		$	15,761	$	16,515
Lease liabilities:
Operating leases	Other liabilities	$	12,960	$	13,586
Finance leases	Other liabilities	3,563		3,620
Total lease liabilities		$	16,523	$	17,206

The components of total lease cost were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Finance lease cost
Right-of-use asset amortization	$	71	$	71
Interest expense	27		28
Operating lease cost	834		634
Total lease cost	$	932	$	733

The Company’s future undiscounted lease payments for finance and operating leases with initial terms of one year or more as of March 31, 2025, are as follows (in thousands):


	Operating Leases		Finance Leases
Remaining nine months ending, December 31, 2025	$	2,352	$	251
2026	2,659		340
2027	2,237		347
2028	1,897		354
2029	1,748		361
Thereafter	4,772		2,628
Total undiscounted lease payments	15,665		4,281
Less: discount	(2,705)		(718)

Net lease liabilities	$	12,960	$	3,563

The following table presents additional information about the Company’s leases as of March 31, 2025, and December 31, 2024.


Supplemental lease information (dollars in thousands)	March 31, 2025			December 31, 2024
Finance lease weighted average remaining lease term (years)	11.50			11.75
Finance lease weighted average discount rate	3.07		%	3.06		%
Operating lease weighted average remaining lease term (years)	6.74			6.84
Operating lease weighted average discount rate	4.66		%	4.65		%

	Three Months Ended March 31,
Cash paid for amounts included in the measurement of lease liabilities	2025			2024
Operating cash flows from operating leases	$	778		$	644
Operating cash flows from finance leases	27			28
Financing cash flows from finance leases	56			53
Right-of-use assets obtained in exchange for new finance lease liabilities	—			—
Right-of-use assets obtained in exchange for new operating lease liabilities	—			—

Leased Property

Lessor Arrangements


	Three Months Ended March 31,
	2025		2024
Operating lease income	$	693	$	575
Total lease income	$	693	$	575

The remaining maturities of operating lease receivables as of March 31, 2025, are as follows (in thousands):


	Operating Leases
Remaining nine months ending, December 31, 2025	$	2,009
2026	2,371
2027	2,124
2028	2,061
2029	2,015
Thereafter	2,833
Total lease receivables	$	13,413

Lessee Arrangements

Right-of-use assets and liabilities by lease type, and the associated balance sheet classifications are as follows (in thousands):


	Balance Sheet Classification	March 31, 2025		December 31, 2024
Right-of-use assets:
Operating leases	Other assets	$	12,520	$	13,203
Finance leases	Other assets	3,241		3,312
Total right-of-use assets		$	15,761	$	16,515
Lease liabilities:
Operating leases	Other liabilities	$	12,960	$	13,586
Finance leases	Other liabilities	3,563		3,620
Total lease liabilities		$	16,523	$	17,206

The components of total lease cost were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Finance lease cost
Right-of-use asset amortization	$	71	$	71
Interest expense	27		28
Operating lease cost	834		634
Total lease cost	$	932	$	733

The Company’s future undiscounted lease payments for finance and operating leases with initial terms of one year or more as of March 31, 2025, are as follows (in thousands):


	Operating Leases		Finance Leases
Remaining nine months ending, December 31, 2025	$	2,352	$	251
2026	2,659		340
2027	2,237		347
2028	1,897		354
2029	1,748		361
Thereafter	4,772		2,628
Total undiscounted lease payments	15,665		4,281
Less: discount	(2,705)		(718)

Net lease liabilities	$	12,960	$	3,563

The following table presents additional information about the Company’s leases as of March 31, 2025, and December 31, 2024.


Supplemental lease information (dollars in thousands)	March 31, 2025			December 31, 2024
Finance lease weighted average remaining lease term (years)	11.50			11.75
Finance lease weighted average discount rate	3.07		%	3.06		%
Operating lease weighted average remaining lease term (years)	6.74			6.84
Operating lease weighted average discount rate	4.66		%	4.65		%

	Three Months Ended March 31,
Cash paid for amounts included in the measurement of lease liabilities	2025			2024
Operating cash flows from operating leases	$	778		$	644
Operating cash flows from finance leases	27			28
Financing cash flows from finance leases	56			53
Right-of-use assets obtained in exchange for new finance lease liabilities	—			—
Right-of-use assets obtained in exchange for new operating lease liabilities	—			—

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

The following table presents changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended March 31, 2025, and March 31, 2024 (in thousands):


	Three months ended March 31, 2025
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	911	$	(92,055)	$	(4,576)	$	(95,720)
Net unrealized gains (losses)	370		7,688		—		8,058
Less: net realized (gains) losses reclassified to earnings	(330)		(32)		—		(362)
Net change in pension plan benefits	—		—		—		—
Ending Balance	$	951	$	(84,399)	$	(4,576)	$	(88,024)

	Three months ended March 31, 2024
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	(490)	$	(97,259)	$	(5,745)	$	(103,494)
Net unrealized gains (losses)	2,660		(441)		—		2,219
Less: net realized (gains) losses reclassified to earnings	353		(32)		—		321
Net change in pension plan benefits	—		—		—		—
Ending Balance	$	2,523	$	(97,732)	$	(5,745)	$	(100,954)

The following table presents amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2025, and March 31, 2024 (in thousands).


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Income
	Three months ended
	March 31, 2025		March 31, 2024
Cash flow hedges:
Interest rate contracts	$	—	$	(447)	Interest income
Interest rate contracts	428		—		Interest expense
Tax effect	(98)		94		Income tax expense (benefit)
Net of tax	$	330	$	(353)

Available-for-sale securities:
Realized gains (losses) on securities	$	1	$	—	Net gains/(losses) on securities
Realized gains (losses) on basis adjustment for fair value hedges	40		40		Interest income
Tax effect	(9)		(8)		Income tax expense (benefit)
Net of tax	$	32	$	32

Total reclassifications, net of tax	$	362	$	(321)	Net income

Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	$ 5,647,507	$ 5,672,236
Allowance for credit losses	(67,753)	(68,040)	$ (24,606)	$ (25,301)
Loans, net	5,579,754	5,604,196
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	2,809,573	2,637,802
Allowance for credit losses	(34,746)	(30,444)	(18,977)	(20,633)
Owner-occupied commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	589,889	614,362
Allowance for credit losses	(3,273)	(3,261)	(782)	(783)
Acquisition, construction & development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	322,963	465,537
Allowance for credit losses	(11,474)	(17,386)	(674)	(368)
Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	613,219	613,085
Allowance for credit losses	(8,272)	(6,633)	(824)	(645)
Single family residential (1-4 units)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,161,406	1,173,749
Allowance for credit losses	(9,554)	(9,763)	(3,272)	(2,797)
Consumer non-real estate and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	150,457	167,701
Allowance for credit losses	$ (434)	$ (553)	$ (77)	$ (75)

Leased Property - Schedule of Lessor, Operating Lease, Payment to be Received, Maturity (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Operating Leases
Remaining nine months ending, December 31, 2025	$ 2,009
2026	2,371
2027	2,124
2028	2,061
2029	2,015
Thereafter	2,833
Total lease receivables	$ 13,413

Deposits (Tables)

3 Months Ended

Mar. 31, 2025

Financial Services, Banking and Thrift [Abstract]

Schedule of Time Deposit Maturities

The remaining maturities of time deposits as of March 31, 2025 are as follows (in thousands):


As of March 31, 2025
Remaining nine months ending, December 31, 2025	$	987,610
2026	215,992
2027	41,828
2028	8,744
2029	6,057
Thereafter	6,922
Total	$	1,267,153

Borrowed Funds -Schedule of Short-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
Due in 2025	$ 300,000
Short-term borrowings	$ 300,000	$ 365,000

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following is a summary of all the Company’s RSU awards issued under both the 2019 SIP and 2023 SIP:


Non-vested Shares	Shares	Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2024	134,202	$	57.67
Granted	77,441	58.49
Vested	(9,360)	54.78
Forfeited	—	—
Non-vested at March 31, 2025	202,283	$	58.12

Schedule of Employee Stock Purchase Plan

The following table presents information for the 2023 ESPP for the three months ended March 31, 2025:


	March 31, 2025
Shares purchased	7,020
Weighted average price of shares purchased	$	53.01
Compensation expense recognized (in 000's)	$	43.9

Schedule of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions

Upon completion of the Merger, the Company determined the fair value per SAR using the following assumptions:


	2019 SAR			2021 SAR			2023 SAR
# of years to full vesting	7 years			7 years			7 years
Fair value	$	14.89		$	16.92		$	14.56
Risk-free interest rate	4.51		%	4.32		%	4.14		%
Expected dividend yield	3.95		%	3.95		%	3.95		%
Expected common stock volatility	32.56		%	32.56		%	32.56		%
Expected contractual life (in years)	4.77			7.20			8.77

Schedule of Stock Appreciation Rights and Option Activity

A summary of SAR and option activity during the three months ended March 31, 2025, is as follows:


				Weighted Average
Dollars in thousands, expect per share information	SARs	Aggregate Intrinsic Value		Remaining Contractual Term (Yrs.)	Exercise Price
Outstanding, December 31, 2024	223,873	$	2,057	5.44	$	46.87
Granted (or acquired)	—	—		—	—
Exercised	260	9		—	23.82
Forfeited	—	—		—	—
Expired	—	—		—	—
Outstanding, March 31, 2025	223,613	$	2,048	5.20	$	46.90

Exercisable SARs:
At March 31, 2025	188,244	$	1,798	4.86	$	46.56

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 730,157	$ 314,750
Net unrealized gains (losses)	8,058	2,219
Less: net realized (gains) losses reclassified to earnings	(362)	321
Net change in pension plan benefits	0	0
Ending Balance	758,000	319,308
Gains and Losses on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	911	(490)
Net unrealized gains (losses)	370	2,660
Less: net realized (gains) losses reclassified to earnings	(330)	353
Net change in pension plan benefits	0	0
Ending Balance	951	2,523
Unrealized Gains and Losses on Available-for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(92,055)	(97,259)
Net unrealized gains (losses)	7,688	(441)
Less: net realized (gains) losses reclassified to earnings	(32)	(32)
Net change in pension plan benefits	0	0
Ending Balance	(84,399)	(97,732)
Defined Benefit Pension Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(4,576)	(5,745)
Net unrealized gains (losses)	0	0
Less: net realized (gains) losses reclassified to earnings	0	0
Net change in pension plan benefits	0	0
Ending Balance	(4,576)	(5,745)
Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(95,720)	(103,494)
Ending Balance	$ (88,024)	$ (100,954)

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Segment Information	3 Months Ended
Segment Information	Mar. 31, 2025
Segment Reporting [Abstract]
Segment Information	Segment Information Segment performance is evaluated using consolidated net income. The Company operates in one segment – Community Banking and the financial performance of this one segment is used to make resource allocations and performance decisions. The Company’s Chief Executive Officer is in charge of allocating the Company’s resources and assessing performance, and has been identified as the chief operating decision maker. While the chief decision-maker monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Individual operating results are not reviewed by senior management to make resource allocation or performance decisions. Therefore, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Schedule of Earnings Per Share, Basic and Diluted

Loans

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Loans

The Company’s loan portfolio segments, as reported in the tables below, include (i) commercial real estate, (ii) owner-occupied commercial real estate, (iii) acquisition, construction & development, (iv) commercial & industrial, (v) single family residential (1-4 units), and (vi) consumer non-real estate and other. The risks associated with lending activities differ among the various loan segments and are subject to the impact of changes in interest rates, market conditions of collateral securing the loans, and general economic conditions.

•Commercial real estate loans carry risk associated with either the net operating income generated from the lease of the real estate collateral or income generated from the sale of the collateral. Other risk factors include the credit-worthiness of the sponsor and the value of the collateral.

•Owner-occupied commercial real estate loans carry risk associated with the operations of the business that occupies the property and the value of the collateral.

•Acquisition, construction & development loans carry risk associated with the credit-worthiness of the borrower, project completion within budget, sale after completion, and the value of the collateral.

•Commercial & industrial loans carry the risk associated with the operations of the business and the value of the collateral, if any.

•Single family residential (1-4 units) loans for consumer purposes carry risk associated with the continued credit-worthiness of the borrower and the value of the collateral. Single family residential (1-4 units) loans for investment purpose carry risk associated with the continued credit-worthiness of the borrower, the value of the collateral, and either the net operating income generated from the lease of the real estate collateral or income generated from the sale of the collateral.

•Consumer non-real estate and other loans, which includes overdrafts, carry risk associated with the credit-worthiness of the borrower and the value of the collateral, if any.

Loan balances as of March 31, 2025, and December 31, 2024, by portfolio segment were as follows (in thousands):


	March 31, 2025		December 31, 2024
Commercial real estate	$	2,809,573	$	2,637,802
Owner-occupied commercial real estate	589,889		614,362
Acquisition, construction & development	322,963		465,537
Commercial & industrial	613,219		613,085
Single family residential (1-4 units)	1,161,406		1,173,749
Consumer non-real estate and other	150,457		167,701
Loans, gross	5,647,507		5,672,236
Allowance for credit losses	(67,753)		(68,040)
Loans, net	$	5,579,754	$	5,604,196

Net deferred loan fees included in the above loan categories totaled $4.2 million and $4.4 million at March 31, 2025, and December 31, 2024, respectively.

Borrowed Funds - Narrative (Details) - USD ($)		3 Months Ended		12 Months Ended
Borrowed Funds - Narrative (Details) - USD ($)	May 03, 2024	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Short-Term Debt [Line Items]
Short-term borrowings		$ 300,000,000		$ 365,000,000
Interest rate for short-term debt		4.42%
Outstanding amount for short-term debt		$ 332,600,000		422,500,000
Unused funds for short-term debt		4,100,000,000
Securities and loans pledged		3,100,000,000		3,100,000,000
Issuance of common stock		103,000	$ 819,000
Subordinated debentures owed to unconsolidated subsidiary trusts		17,077,000		$ 17,013,000
SFG Capital Trust I
Short-Term Debt [Line Items]
Subordinated debentures owed to unconsolidated subsidiary trusts	$ 3,610,000
SFG Capital Trust II
Short-Term Debt [Line Items]
Subordinated debentures owed to unconsolidated subsidiary trusts	7,730,000
SFG Capital Trust III
Short-Term Debt [Line Items]
Subordinated debentures owed to unconsolidated subsidiary trusts	8,250,000
SFG Capital Trust I
Short-Term Debt [Line Items]
SFG capital trust issued	3,500,000
Issuance of common stock	109,000
SFG Capital Trust II
Short-Term Debt [Line Items]
SFG capital trust issued	7,500,000
Issuance of common stock	232,000
SFG Capital Trust III
Short-Term Debt [Line Items]
SFG capital trust issued	8,000,000.0
Issuance of common stock	$ 248,000
Subordinated debentures
Short-Term Debt [Line Items]
Subordinated debentures, net		105,000,000
Subordinated debentures owed to unconsolidated subsidiary trusts
Short-Term Debt [Line Items]
Subordinated debentures, net		19,589,000
Subordinated debentures owed to unconsolidated subsidiary trusts \| SFG Capital Trust I
Short-Term Debt [Line Items]
Basis points	3.45%
Subordinated debentures owed to unconsolidated subsidiary trusts \| SFG Capital Trust II
Short-Term Debt [Line Items]
Basis points	2.80%
Subordinated debentures owed to unconsolidated subsidiary trusts \| SFG Capital Trust III
Short-Term Debt [Line Items]
Basis points	1.45%
Subordinated Debentures, Issued In Fourth Quarter Of 2021 \| Subordinated debentures
Short-Term Debt [Line Items]
Debt instrument, face amount	$ 75,000,000.0
Debt instrument, fair value	61,500,000
Amortization of debt discount (premium)	$ 13,500,000
Subordinated debentures, net		66,300,000
Number of maturity (in years)	5 years
Tier 2 capital reduction (as a percent)	20.00%
Subordinated borrowing bears interest (as a percent)	3.25%
Basis points	2.30%
Debt instrument, term (in years)	10 years
Number of years not pre payable issuance	5 years
Subordinated Debentures, Issued In Third Quarter Of 2020 \| Subordinated debentures
Short-Term Debt [Line Items]
Debt instrument, face amount	$ 30,000,000
Debt instrument, fair value	29,800,000
Amortization of debt discount (premium)	$ 200,000
Subordinated debentures, net		$ 29,900,000
Number of maturity (in years)	5 years
Tier 2 capital reduction (as a percent)	20.00%
Subordinated borrowing bears interest (as a percent)	5.00%
Basis points	4.87%
Debt instrument, term (in years)	10 years
Number of years not pre payable issuance	5 years
SFG Capital Trust I
Short-Term Debt [Line Items]
Subsidiary, ownership percentage, parent (as a percent)	100.00%
SFG Capital Trust II
Short-Term Debt [Line Items]
Subsidiary, ownership percentage, parent (as a percent)	100.00%
SFG Capital Trust III
Short-Term Debt [Line Items]
Subsidiary, ownership percentage, parent (as a percent)	100.00%
Minimum
Short-Term Debt [Line Items]
Interest rate for short-term debt				4.43%
Maximum
Short-Term Debt [Line Items]
Interest rate for short-term debt				4.57%

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

The following shows the weighted average number of shares used in computing earnings per share and the effect of weighted average number of shares dilutive potential common stock. Dilutive potential common stock has no effect on income available to common shareholders.


	Three Months Ended March 31,
	2025		2024
Net income applicable to common shares (in thousands)	$	26,976	$	5,212

Weighted average number of shares	14,976,483		7,433,481
Options effect of dilutive shares	49,893		94,008
Weighted average dilutive shares	15,026,376		7,527,489

Basic earnings per common share	$	1.80	$	0.70
Diluted earnings per common share	1.80		0.69

Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The contractual maturities of these borrowings, which all occur within one year of the reporting date, are as follows as of March 31, 2025, (in thousands):


Due in 2025	$	300,000
Total	$	300,000

Schedule of Maturities of Long-Term Debt

The remaining maturities of subordinated debentures as of March 31, 2025, are as follows (in thousands):


	Subordinated debentures		Subordinated debentures owed to unconsolidated subsidiary trusts
Remaining nine months ending, December 31, 2025	$	—	$	—
2026	—		—
2027	—		—
2028	—		—
2029	—		—
Thereafter	105,000		19,589
Total	$	105,000	$	19,589

Deposits - Schedule of Time Deposit Maturities (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Financial Services, Banking and Thrift [Abstract]
Remaining nine months ending, December 31, 2025	$ 987,610
2026	215,992
2027	41,828
2028	8,744
2029	6,057
Thereafter	6,922
Total	$ 1,267,153

Share-Based Compensation - Narrative (Details)		3 Months Ended
Share-Based Compensation - Narrative (Details)	Mar. 30, 2023 shares	Mar. 31, 2025 USD ($) shares	Mar. 31, 2024 USD ($) shares	May 03, 2024 shares	Dec. 31, 2019 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost for awards granted \| $		$ 1,300,000	$ 590,500
Total income tax benefit \| $		$ 264,700	$ 124,000.0
Summit Financial Group, Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock portion, number of Burke & Herbert stock for each share of Summit common stock converted (in shares)				0.5043
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issued during period (in shares)		77,441	0
Unrecognized compensation costs \| $		$ 8,400,000
Average period for cost to be recognized		1 year 6 months 25 days
Restricted Stock Units (RSUs) \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	3 years	3 years
Restricted Stock Units (RSUs) \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	5 years	5 years
Restricted Stock Units (RSUs) \| 2019 Stock Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized to be issued (in shares)					240,000
Right to receive common share					1
Restricted Stock Units (RSUs) \| 2023 Stock Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized to be issued (in shares)	250,000	324,887
Performance-based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage (as a percent)		100.00%
Employee Stock \| 2023 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares reserved for issuance (in shares)	250,000
Number of shares available for grant (in shares)		305,210
Purchase price of common stock (as a percent)	85.00%
Eligible employees, subscription rate (as a percent)	15.00%
Stock Appreciation Rights (SARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period		7 years
Unrecognized compensation costs \| $		$ 508,100
Average period for cost to be recognized		2 years 4 months 17 days
Exercisable during period (as a period)		14.30%
Award expiration period		10 years
Total fair value exercised \| $		$ 7,500
Vested (in shares)		78,000

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities, Nonrecurring (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 2,625	$ 2,783	$ 0
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	2,625	2,783
Nonrecurring \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,186	2,668
Nonrecurring \| Owner-occupied commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Nonrecurring \| Acquisition, construction & development
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	232	232
Nonrecurring \| Commercial & industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	249
Nonrecurring \| Single family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	872
Nonrecurring \| Consumer non-real estate and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
(Level 1) \| Nonrecurring \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring \| Owner-occupied commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring \| Acquisition, construction & development
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring \| Commercial & industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring \| Single family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 1) \| Nonrecurring \| Consumer non-real estate and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	0	0
(Level 2) \| Nonrecurring \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring \| Owner-occupied commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring \| Acquisition, construction & development
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring \| Commercial & industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring \| Single family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 2) \| Nonrecurring \| Consumer non-real estate and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 3) \| Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	2,625	2,783
(Level 3) \| Nonrecurring \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,186	2,668
(Level 3) \| Nonrecurring \| Owner-occupied commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
(Level 3) \| Nonrecurring \| Acquisition, construction & development
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	232	232
(Level 3) \| Nonrecurring \| Commercial & industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	249
(Level 3) \| Nonrecurring \| Single family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	872
(Level 3) \| Nonrecurring \| Consumer non-real estate and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

Commitments and Contingencies - Schedule of Fair Value, off-Balance-Sheet Risks (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Commitments to extend credit
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instrument contractual amount	$ 1,021,447	$ 969,317
Commercial letters of credit
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Financial instrument contractual amount	$ 30,303	$ 13,333

Loans (Tables)

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loan balances as of March 31, 2025, and December 31, 2024, by portfolio segment were as follows (in thousands):


	March 31, 2025		December 31, 2024
Commercial real estate	$	2,809,573	$	2,637,802
Owner-occupied commercial real estate	589,889		614,362
Acquisition, construction & development	322,963		465,537
Commercial & industrial	613,219		613,085
Single family residential (1-4 units)	1,161,406		1,173,749
Consumer non-real estate and other	150,457		167,701
Loans, gross	5,647,507		5,672,236
Allowance for credit losses	(67,753)		(68,040)
Loans, net	$	5,579,754	$	5,604,196

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2025	May 06, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Transition Report	false
Entity File Number	001-41633
Entity Registrant Name	Burke & Herbert Financial Services Corp.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	92-0289417
Entity Address, Address Line One	100 S. Fairfax Street
Entity Address, City or Town	Alexandria
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22314
City Area Code	703
Local Phone Number	666-3555
Title of 12(b) Security	Common Stock, par value $0.50 per share
Trading Symbol	BHRB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,005,419
Entity Central Index Key	0001964333
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income	$ 110,786	$ 38,745
Interest expense	37,799	16,614
Income tax expense (benefit)	(5,644)	(678)
Net income	27,201	5,212
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	362	(321)
Reclassification out of Accumulated Other Comprehensive Income \| Gains and Losses on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income	0	(447)
Interest expense	428	0
Income tax expense (benefit)	(98)	94
Net income	330	(353)
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains and Losses on Available-for-Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income	40	40
Net gains/(losses) on securities	1	0
Income tax expense (benefit)	(9)	(8)
Net income	$ 32	$ 32

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Regulatory Capital Requirements under Banking Regulations [Abstract]

Regulatory Capital Matters (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

The following table presents the actual and required capital amounts and ratios for the Company and the Bank at March 31, 2025, and December 31, 2024 (in thousands except for ratios):


	Actual				Minimum Required Capital - Basel III			Minimum Required to be Well Capitalized
	Amount		Ratio		Amount		Ratio	Amount		Ratio
As of March 31, 2025
Total Capital to risk weighted assets
Consolidated	$	954,979	14.79	%	$	677,758	≥ 10.5%	$	645,483	N/A
Burke & Herbert Bank & Trust	942,524		14.62		676,805		≥ 10.5	644,576		≥ 10.0
Tier 1 (Core) Capital to risk weighted assets
Consolidated	787,414		12.20		548,661		≥ 8.5	516,387		N/A
Burke & Herbert Bank & Trust	871,171		13.52		547,890		≥ 8.5	515,661		≥ 8.0
Common Tier 1 (CET 1) to risk-weighted assets
Consolidated	759,924		11.77		451,838		≥ 7.0	419,564		N/A
Burke & Herbert Bank & Trust	871,171		13.52		451,203		≥ 7.0	418,974		≥ 6.5
Tier 1 (Core) Capital to average assets (leverage ratio)
Consolidated	787,414		10.12		311,095		≥ 4.0	388,869		N/A
Burke & Herbert Bank & Trust	871,171		11.22		310,691		≥ 4.0	388,364		≥ 5.0

As of December 31, 2024
Total Capital to risk weighted assets
Consolidated	$	930,753	14.57	%	$	670,590	≥ 10.5%	$	638,658	N/A
Burke & Herbert Bank & Trust	919,843		14.41		670,028		≥ 10.5	638,122		≥ 10.0
Tier 1 (Core) Capital to risk weighted assets
Consolidated	763,842		11.96		542,859		≥ 8.5	510,926		N/A
Burke & Herbert Bank & Trust	847,804		13.29		542,404		≥ 8.5	510,498		≥ 8.0
Common Tier 1 (CET 1) to risk-weighted assets
Consolidated	736,416		11.53		447,060		≥ 7.0	415,127		N/A
Burke & Herbert Bank & Trust	847,804		13.29		446,686		≥ 7.0	414,779		≥ 6.5
Tier 1 (Core) Capital to average assets (leverage ratio)
Consolidated	736,416		9.80		311,904		≥ 4.0	389,880		N/A
Burke & Herbert Bank & Trust	847,804		10.88		311,616		≥ 4.0	389,520		≥ 5.0

Nature of Business Activities and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Nature of Business Activities and Significant Accounting Policies	Nature of Business Activities and Significant Accounting Policies Nature of operations The consolidated financial statements include Burke & Herbert Financial Services Corp. (“Burke & Herbert”) and its wholly-owned subsidiary Burke & Herbert Bank & Trust Company (“the Bank”), together referred to as “the Company” for purposes of the Notes to the Financial Statements. Burke & Herbert Financial Services Corp. was organized as a Virginia corporation in 2022 to serve as the holding company for the Bank. Burke & Herbert became a bank holding company when it commenced operations on October 1, 2022, following a reorganization transaction in which it acquired control of the Bank under the Bank Holding Company Act of 1956 (“BHCA”). This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. The Company has no material operations other than owning the Bank. In September 2023, the Company elected to become a financial holding company under the BHCA. As a financial holding company of a Virginia state bank, the Company is subject to regulation, supervision, and examination by the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and the Bureau of Financial Institutions of the Virginia State Corporation Commission (the “Virginia BFI”). The Bank is a Virginia chartered commercial bank that commenced operations in 1852. The Bank became a member of the Federal Reserve System on December 31, 2024. The Bank is subject to regulation, supervision, and examination by the Federal Reserve (through the Federal Reserve Bank of Richmond) and the Virginia BFI. The Bank’s primary market area includes northern Virginia and West Virginia, and it has over 77 branches and commercial loan offices across Delaware, Kentucky, Maryland, Virginia, and West Virginia. The Company’s branch locations accept business and consumer deposits from a diverse customer base. The Company’s deposit products include checking, savings, and term certificate accounts. The Company’s loan portfolio includes commercial and consumer loans, a substantial portion of which are secured by real estate. Merger with Summit Financial Group, Inc. Effective on May 3, 2024 (the “Closing Date”), the Company completed its merger (the “Merger”) with Summit Financial Group, Inc., a West Virginia corporation (“Summit”), pursuant to the Agreement and Plan of Reorganization and accompanying Plan of Merger dated August 24, 2023 between the Company and Summit (the “Merger Agreement”). Pursuant to the Merger Agreement, on the Closing Date, (i) Summit merged with and into the Company with the Company as the surviving entity, and (ii) immediately following the Merger, Summit Community Bank, Inc., a West Virginia chartered bank and wholly-owned subsidiary of Summit (“SCB”) merged with and into the Bank, with the Bank as the surviving bank. In the Merger, holders of Summit common stock outstanding at the effective time of the Merger received 0.5043 shares of the Company’s Common Stock for each share of Summit common stock they owned, subject to the payment of cash in lieu of fractional shares. The total aggregate consideration payable in the Merger was approximately 7,405,772 shares of the Company’s Common Stock. Additionally, each share of the 6.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series 2021 of Summit (the “Summit Series 2021 Preferred Stock”) issued and outstanding was converted into the right to receive a share of a newly created series of preferred stock of the Company, the Burke & Herbert Series 2021 Preferred Stock (the “Burke & Herbert Series 2021 Preferred Stock”). Summit’s results of operations are included from the Closing Date forward. Basis of Presentation The accompanying consolidated financial statements include Burke & Herbert Financial Services Corp. and its wholly owned subsidiary Burke & Herbert Bank & Trust Company and have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and with applicable quarterly reporting regulations of the U.S. Securities and Exchange Commission (“SEC”). The accounting and reporting policies of the Company conform to GAAP and reflect practices of the banking industry. They do not include all of the information and notes required by GAAP for complete financial statements. As such, these unaudited financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ending December 31, 2024, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025. The consolidated financial statements include the accounts of the Company and the Bank (as its wholly-owned subsidiary). All significant intercompany accounts and transactions between the Company and the Bank have been eliminated. In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the results of operations in these financial statements, have been made. The results of operations for the three months ended March 31, 2025, are not necessarily indicative of the results to be expected for any other interim period or for the full year. All December 31, 2024, amounts and disclosures included in this quarterly report were derived from the Company’s audited consolidated financial statements. Certain items in the prior period have been reclassified to conform to the current presentation. These reclassifications had no effect on prior year net income or on shareholders’ equity. Newly issued not yet adopted accounting standards In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income—Expense Disaggregation Disclosures. This ASU seeks to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU is not expected to have a material impact our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU incorporates certain amendments to SEC disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of the related disclosure requirement becomes effective. For all other entities, the effective date will be two years after the date of such removal. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. We do not expect the adoption of ASU 2023-06 to have a material impact on our consolidated financial statements.

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities, Recurring (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Financial assets
Fair Value	$ 1,436,869	$ 1,432,371
Recurring
Financial assets
Fair Value	1,436,869	1,432,371
Loans held-for-sale, at fair value	1,302	2,331
Equity investments	12,258	12,407
Derivatives	2,105	3,191
Financial liabilities
Derivatives	1,810	1,988
(Level 1) \| Recurring
Financial assets
Fair Value	151,793	149,127
Loans held-for-sale, at fair value	0	0
Equity investments	0	0
Derivatives	0	0
Financial liabilities
Derivatives	0	0
(Level 2) \| Recurring
Financial assets
Fair Value	1,285,076	1,283,244
Loans held-for-sale, at fair value	1,302	2,331
Equity investments	12,258	12,407
Derivatives	2,105	3,191
Financial liabilities
Derivatives	1,810	1,988
(Level 3) \| Recurring
Financial assets
Fair Value	0	0
Loans held-for-sale, at fair value	0	0
Equity investments	0	0
Derivatives	0	0
Financial liabilities
Derivatives	0	0
U.S. Treasuries and government agencies
Financial assets
Fair Value	151,793	149,127
U.S. Treasuries and government agencies \| Recurring
Financial assets
Fair Value	151,793	149,127
U.S. Treasuries and government agencies \| (Level 1) \| Recurring
Financial assets
Fair Value	151,793	149,127
U.S. Treasuries and government agencies \| (Level 2) \| Recurring
Financial assets
Fair Value	0	0
U.S. Treasuries and government agencies \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Obligations of states and municipalities
Financial assets
Fair Value	716,545	698,724
Obligations of states and municipalities \| Recurring
Financial assets
Fair Value	716,545	698,724
Obligations of states and municipalities \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Obligations of states and municipalities \| (Level 2) \| Recurring
Financial assets
Fair Value	716,545	698,724
Obligations of states and municipalities \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Residential mortgage backed - agency
Financial assets
Fair Value	53,893	53,186
Residential mortgage backed - agency \| Recurring
Financial assets
Fair Value	53,893	53,186
Residential mortgage backed - agency \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Residential mortgage backed - agency \| (Level 2) \| Recurring
Financial assets
Fair Value	53,893	53,186
Residential mortgage backed - agency \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Residential mortgage backed - non-agency
Financial assets
Fair Value	246,032	247,876
Residential mortgage backed - non-agency \| Recurring
Financial assets
Fair Value	246,032	247,876
Residential mortgage backed - non-agency \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Residential mortgage backed - non-agency \| (Level 2) \| Recurring
Financial assets
Fair Value	246,032	247,876
Residential mortgage backed - non-agency \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Commercial mortgage backed - agency
Financial assets
Fair Value	40,811	33,071
Commercial mortgage backed - agency \| Recurring
Financial assets
Fair Value	40,811	33,071
Commercial mortgage backed - agency \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Commercial mortgage backed - agency \| (Level 2) \| Recurring
Financial assets
Fair Value	40,811	33,071
Commercial mortgage backed - agency \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Commercial mortgage backed - non-agency
Financial assets
Fair Value	135,010	154,511
Commercial mortgage backed - non-agency \| Recurring
Financial assets
Fair Value	135,010	154,511
Commercial mortgage backed - non-agency \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Commercial mortgage backed - non-agency \| (Level 2) \| Recurring
Financial assets
Fair Value	135,010	154,511
Commercial mortgage backed - non-agency \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Asset-backed
Financial assets
Fair Value	60,786	64,056
Asset-backed \| Recurring
Financial assets
Fair Value	60,786	64,056
Asset-backed \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Asset-backed \| (Level 2) \| Recurring
Financial assets
Fair Value	60,786	64,056
Asset-backed \| (Level 3) \| Recurring
Financial assets
Fair Value	0	0
Other
Financial assets
Fair Value	31,999	31,820
Other \| Recurring
Financial assets
Fair Value	31,999	31,820
Other \| (Level 1) \| Recurring
Financial assets
Fair Value	0	0
Other \| (Level 2) \| Recurring
Financial assets
Fair Value	31,999	31,820
Other \| (Level 3) \| Recurring
Financial assets
Fair Value	$ 0	$ 0

Business Combination (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisition, Total Consideration Paid

The following table summarizes adjustments to goodwill subsequent to December 31, 2024 (in thousands):


	Goodwill
Balance at December 31, 2024	$	32,783
Adjustment to goodwill acquired in conjunction with the acquisition of Summit	59
Balance at March 31, 2025	$	32,842

The following table details the total consideration paid for Summit on May 3, 2024, the fair values of the assets acquired and liabilities assumed and the resulting goodwill at the acquisition date.


($ in thousands, except share information)
Consideration	May 3, 2024
Common stock of Summit Financial Group, Inc.	14,686,738
Exchange ratio	0.5043
Expected Burke & Herbert common stock to be issued	7,406,522
Actual Burke & Herbert common stock issued	7,405,772
Fractional common stock to be paid in cash	750

Actual Burke & Herbert common stock issued	7,405,772
Price per share of Burke & Herbert common stock issued	$	51.67
Purchase price consideration for common stock issued	382,656

Fractional common stock to be paid in cash	750
Average 10 day closing price used to pay fractional common stock	$	53.66
Cash paid for fractional shares	40
Implied value of stock appreciation rights ("SARs") and restricted stock units	4,336
Fair value of preferred stock issued by Burke & Herbert	10,413
Fully diluted transaction value	$	397,445

Goodwill	$	32,842

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


	As Recorded	Estimated	Estimated
	by Summit	Fair Value	Fair Value
($ in thousands)	May 3, 2024	Adjustments	May 3, 2024
Total purchase price consideration			$	397,445
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and equivalents	53,357	—	53,357
Securities, available-for-sale, at fair value	491,608	—	491,608
Securities, held-to-maturity, at amortized cost	93,573	(7,430)	86,143
Equity and other investments	36,085	—	36,085
Loans, gross	3,707,940	(153,306)	3,554,634
Allowance for credit losses	(49,471)	25,991	(23,480)
Loans, net of allowance	3,658,469	(127,315)	3,531,154
Premises and equipment, net	62,255	13,276	75,531
Accrued interest receivable	19,610	—	19,610
Company-owned life insurance	86,363	—	86,363
Goodwill and intangibles	73,144	(4,384)	68,760
Other assets	43,169	11,263	54,432
Total identifiable assets acquired	4,617,633	(114,590)	4,503,043
Deposits	3,704,072	(7,136)	3,696,936
Borrowings	283,398	—	283,398
Subordinated debentures and trust preferred securities	123,533	(16,466)	107,067
Unfunded reserve liability	6,692	(3,190)	3,502
Accrued interest and other liabilities	47,537	—	47,537
Total liabilities	4,165,232	(26,792)	4,138,440
Total identifiable net assets	452,401	(87,798)	364,603
Goodwill			$	32,842

Commitments and Contingencies - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Derivatives, Fair Value [Line Items]
Off-balance-sheet, credit total	$ 3,600,000		$ 4,000,000.0
Unfunded Loan Commitment
Derivatives, Fair Value [Line Items]
Recapture of credit losses on unfunded commitments	$ 398,800	$ 0

Allowance for Credit Losses - Collateral Dependent Loans Individually Evaluated (Details) - Collateral Pledged - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
With Allowance
Amortized Cost	$ 7,649	$ 9,875
Related Allowance	6,231	5,854
Amortized Cost, With No Related Allowance	26,305	18,397
Total amortized cost	33,954	28,272
Commercial real estate
With Allowance
Amortized Cost	6,220	7,459
Related Allowance	5,034	4,791
Amortized Cost, With No Related Allowance	18,873	12,439
Total amortized cost	25,093	19,898
Owner-occupied commercial real estate
With Allowance
Amortized Cost	0	0
Related Allowance	0	0
Amortized Cost, With No Related Allowance	2,067	1,833
Total amortized cost	2,067	1,833
Acquisition, construction & development
With Allowance
Amortized Cost	446	535
Related Allowance	214	303
Amortized Cost, With No Related Allowance	615	369
Total amortized cost	1,061	904
Commercial & industrial
With Allowance
Amortized Cost	983	983
Related Allowance	983	734
Amortized Cost, With No Related Allowance	807	348
Total amortized cost	1,790	1,331
Single family residential (1-4 units)
With Allowance
Amortized Cost	0	898
Related Allowance	0	26
Amortized Cost, With No Related Allowance	3,943	3,408
Total amortized cost	3,943	4,306
Consumer non-real estate and other
With Allowance
Amortized Cost	0	0
Related Allowance	0	0
Amortized Cost, With No Related Allowance	0	0
Total amortized cost	$ 0	$ 0

Deposits - Narrative (Details) - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Financial Services, Banking and Thrift [Abstract]
Time deposits, at or above FDIC insurance limit	$ 292,300,000	$ 284,400,000
Brokered time deposits	246,900,000	244,800,000
Interest bearing deposit, certificates of deposits	32,200,000	35,700,000
Time deposits, individual retirement account	118,500,000	118,900,000
Deposit liabilities reclassified as loans receivable	$ 899,000	$ 1,600,000

Nature of Business Activities and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Nature of Operations and Consolidation	The consolidated financial statements include Burke & Herbert Financial Services Corp. (“Burke & Herbert”) and its wholly-owned subsidiary Burke & Herbert Bank & Trust Company (“the Bank”), together referred to as “the Company” for purposes of the Notes to the Financial Statements. The consolidated financial statements include the accounts of the Company and the Bank (as its wholly-owned subsidiary). All significant intercompany accounts and transactions between the Company and the Bank have been eliminated.
Basis of Presentation	The accompanying consolidated financial statements include Burke & Herbert Financial Services Corp. and its wholly owned subsidiary Burke & Herbert Bank & Trust Company and have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and with applicable quarterly reporting regulations of the U.S. Securities and Exchange Commission (“SEC”). The accounting and reporting policies of the Company conform to GAAP and reflect practices of the banking industry. They do not include all of the information and notes required by GAAP for complete financial statements. As such, these unaudited financial statements should be read in conjunction with the consolidated financial statements and notes thereto as of and for the year ending December 31, 2024, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.
Newly issued not yet adopted accounting standards	Newly issued not yet adopted accounting standards In November 2024, the FASB issued ASU 2024-03, Income Statement (Subtopic 220-40): Reporting Comprehensive Income—Expense Disaggregation Disclosures. This ASU seeks to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. This ASU is not expected to have a material impact our consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. This ASU incorporates certain amendments to SEC disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of the related disclosure requirement becomes effective. For all other entities, the effective date will be two years after the date of such removal. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. We do not expect the adoption of ASU 2023-06 to have a material impact on our consolidated financial statements.
Fair Value Measurements	Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect our own assumptions that market participants would use in pricing an asset or liability. In instances in which multiple levels of inputs are used to measure fair value, hierarchy classification is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company used the following methods and significant assumptions to estimate fair value: Investment securities The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2), using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on securities’ relationship to other benchmark quoted securities (Level 2 inputs). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Equity Investments Equity investments are recorded at fair value on a recurring basis, with changes in fair value reported in net income. Through the Merger, at March 31, 2025, we acquired an investment in an S&P 500 index mutual fund that is traded on an exchange, and we classify it as Level 2. Through the Merger, we acquired perpetual preferred stock of a bank holding company issued in October 2022 in a private offering. The perpetual preferred stock does not trade on an exchange or in an active over-the-counter market; therefore, we estimate its fair value using the present value of its future cash flows using observed discount rates of similar publicly-traded securities, adjusted for a liquidity premium. We classify the perpetual preferred stock as Level 2. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment. Such equity securities are included in other assets on the accompanying Consolidated Balance Sheets. Derivatives The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). The Company has contracted with a third-party vendor to provide valuations for interest rate swaps using standard swap valuation techniques. The Company has considered counterparty credit risk in the valuation of its interest rate swap assets and has considered its own credit risk in the valuation of its interest rate swap liabilities. The Company recognizes interest rate lock commitments at fair value. Fair value of interest rate lock commitments is based on the price of underlying loans obtained from an investor for loans that will be delivered on a best effort basis (Level 2). Loans held-for-sale, at fair value The fair value of loans held-for-sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan (Level 2). These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Collateral dependent loans Loans for which the borrower is experiencing financial difficulty and repayment is dependent upon the operation or sale of collateral, are considered collateral-dependent. For collateral-dependent loans, the fair value is measured based on the value of the collateral securing the loans, less estimated costs of disposal. Collateral may be in the form of real estate or business assets, including equipment, inventory, and accounts receivable. The vast majority of the collateral underlying collateral-dependent loans is real estate, the fair value of which is measured through an appraisal. The appraisals of the collateral supporting collateral-dependent loans may utilize a single valuation approach or a combination of approaches, including comparable sales and the income approach. Any fair value adjustments are recorded in the period incurred as provision for (recapture of) credit losses on the Consolidated Statements of Income. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business. Other real estate owned Assets acquired through foreclosure or other proceedings are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The fair value of foreclosed properties is determined on a nonrecurring basis generally utilizing current appraisals performed by an independent, licensed appraiser applying an income or market value approach using observable market data. Updated appraisals of foreclosed properties are generally obtained if the existing appraisal is more than 18 months old or more frequently if there is a known deterioration in value. However, if a current appraisal is not available, the original appraised value is discounted, as appropriate, to compensate for the estimated depreciation in the value of the real estate since the date of its original appraisal. Such discounts are generally estimated based upon management’s knowledge of sales of similar property within the applicable market area and its knowledge of other real estate market-related data as well as general economic trends. Upon foreclosure, any fair value adjustment is charged against the allowance for credit losses on loans. Subsequent fair value adjustments are recorded in the period incurred and included in other noninterest expense in the Consolidated Statements of Income.

Regulatory Capital Matters - Narrative (Details) $ in Millions	Mar. 31, 2025 USD ($)
Regulatory Capital Requirements under Banking Regulations [Abstract]
Retained earnings available to be declared as dividend	$ 265.7

Leased Property (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Lessor, Lease Income

The components of lease income, which were included in non-interest expense on the Consolidated Statements of Income, were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Operating lease income	$	693	$	575
Total lease income	$	693	$	575

Schedule of Lessor, Operating Lease, Payment to be Received, Maturity

The remaining maturities of operating lease receivables as of March 31, 2025, are as follows (in thousands):


	Operating Leases
Remaining nine months ending, December 31, 2025	$	2,009
2026	2,371
2027	2,124
2028	2,061
2029	2,015
Thereafter	2,833
Total lease receivables	$	13,413

Schedule of Assets and Liabilities, Lessee

Right-of-use assets and liabilities by lease type, and the associated balance sheet classifications are as follows (in thousands):


	Balance Sheet Classification	March 31, 2025		December 31, 2024
Right-of-use assets:
Operating leases	Other assets	$	12,520	$	13,203
Finance leases	Other assets	3,241		3,312
Total right-of-use assets		$	15,761	$	16,515
Lease liabilities:
Operating leases	Other liabilities	$	12,960	$	13,586
Finance leases	Other liabilities	3,563		3,620
Total lease liabilities		$	16,523	$	17,206

Schedule of Lease, Cost

The components of total lease cost were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Finance lease cost
Right-of-use asset amortization	$	71	$	71
Interest expense	27		28
Operating lease cost	834		634
Total lease cost	$	932	$	733

The following table presents additional information about the Company’s leases as of March 31, 2025, and December 31, 2024.


Supplemental lease information (dollars in thousands)	March 31, 2025			December 31, 2024
Finance lease weighted average remaining lease term (years)	11.50			11.75
Finance lease weighted average discount rate	3.07		%	3.06		%
Operating lease weighted average remaining lease term (years)	6.74			6.84
Operating lease weighted average discount rate	4.66		%	4.65		%

	Three Months Ended March 31,
Cash paid for amounts included in the measurement of lease liabilities	2025			2024
Operating cash flows from operating leases	$	778		$	644
Operating cash flows from finance leases	27			28
Financing cash flows from finance leases	56			53
Right-of-use assets obtained in exchange for new finance lease liabilities	—			—
Right-of-use assets obtained in exchange for new operating lease liabilities	—			—

Schedule of Lessee, Operating Lease, Liability, Maturity

The Company’s future undiscounted lease payments for finance and operating leases with initial terms of one year or more as of March 31, 2025, are as follows (in thousands):


	Operating Leases		Finance Leases
Remaining nine months ending, December 31, 2025	$	2,352	$	251
2026	2,659		340
2027	2,237		347
2028	1,897		354
2029	1,748		361
Thereafter	4,772		2,628
Total undiscounted lease payments	15,665		4,281
Less: discount	(2,705)		(718)

Net lease liabilities	$	12,960	$	3,563

Schedule of Finance Lease, Liability, to be Paid, Maturity

The Company’s future undiscounted lease payments for finance and operating leases with initial terms of one year or more as of March 31, 2025, are as follows (in thousands):


	Operating Leases		Finance Leases
Remaining nine months ending, December 31, 2025	$	2,352	$	251
2026	2,659		340
2027	2,237		347
2028	1,897		354
2029	1,748		361
Thereafter	4,772		2,628
Total undiscounted lease payments	15,665		4,281
Less: discount	(2,705)		(718)

Net lease liabilities	$	12,960	$	3,563

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Fair Value, off-Balance-Sheet Risks

A summary of the contractual amounts of the Company’s financial instruments outstanding at March 31, 2025, and December 31, 2024, is as follows (in thousands):


	March 31, 2025		December 31, 2024
Commitments to extend credit	$	1,021,447	$	969,317
Commercial letters of credit	30,303		13,333

Securities (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Debt Securities, Available-for-Sale

The carrying amount of available-for-sale (“AFS”) securities and their approximate fair values at March 31, 2025, and December 31, 2024, are summarized as follows (in thousands):


	March 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	165,241	$	—	$	13,448	$	151,793
Obligations of states and municipalities	795,589		232		79,276		716,545
Residential mortgage backed - agency	57,304		301		3,712		53,893
Residential mortgage backed - non-agency	254,510		283		8,761		246,032
Commercial mortgage backed - agency	41,602		28		819		40,811
Commercial mortgage backed - non-agency	137,791		68		2,849		135,010
Asset-backed	61,396		210		820		60,786
Other	32,928		370		1,299		31,999
Total	$	1,546,361	$	1,492	$	110,984	$	1,436,869


	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	165,619	$	—	$	16,492	$	149,127
Obligations of states and municipalities	777,181		846		79,303		698,724
Residential mortgage backed - agency	57,244		121		4,179		53,186
Residential mortgage backed - non-agency	259,964		44		12,132		247,876
Commercial mortgage backed - agency	33,791		27		747		33,071
Commercial mortgage backed - non-agency	158,621		2		4,112		154,511
Asset-backed	64,308		316		568		64,056
Other	32,861		302		1,343		31,820
Total	$	1,549,589	$	1,658	$	118,876	$	1,432,371

The maturities of AFS securities at March 31, 2025, were as follows (in thousands): (Expected maturities of securities not due at a single maturity date are based on average life at estimated prepayment speed. Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay some obligations with or without call or prepayment penalties).


	March 31, 2025
	Amortized Cost
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	5,083	$	160,158	$	—	$	—	$	165,241
Obligations of states and municipalities	2,000		167,205		304,160		322,224		795,589
Residential mortgage backed - agency	17		23,290		23,622		10,375		57,304
Residential mortgage backed - non-agency	10,479		72,758		140,964		30,309		254,510
Commercial mortgage backed - agency	—		23,859		17,743		—		41,602
Commercial mortgage backed - non-agency	75,360		30,083		32,348		—		137,791
Asset-backed	1,778		35,336		24,282		—		61,396
Other	—		2,763		15,719		14,446		32,928
Total	$	94,717	$	515,452	$	558,838	$	377,354	$	1,546,361


	March 31, 2025
	Fair Value
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	4,944	$	146,849	$	—	$	—	$	151,793
Obligations of states and municipalities	2,002		159,789		270,561		284,193		716,545
Residential mortgage backed - agency	17		22,931		20,281		10,664		53,893
Residential mortgage backed - non-agency	10,357		69,198		136,413		30,064		246,032
Commercial mortgage backed - agency	—		23,405		17,406		—		40,811
Commercial mortgage backed - non-agency	74,476		28,936		31,598		—		135,010
Asset-backed	1,780		34,953		24,053		—		60,786
Other	—		2,885		14,761		14,353		31,999
Total	$	93,576	$	488,946	$	515,073	$	339,274	$	1,436,869

Schedule of Realized Gain (Loss)

The proceeds from sales, calls, and maturities of debt securities available-for-sale, including principal payments received, and the related gross gains and losses realized, for the three months ended March 31, 2025, and March 31, 2024, were as follows (in thousands):


	Proceeds from						Gross realized
Three Months Ended March 31,	Sales		Calls and maturities		Principal Payments		Gains		Losses
2025	$	—	$	10,867	$	39,506	$	1	$	—
2024	1,281		—		35,010		—		—

Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

AFS securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):


	March 31, 2025
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	—	$	151,793	$	13,448	$	13,448
Obligations of states and municipalities	257,175		7,601		434,508		71,675		79,276
Residential mortgage backed - agency	—		1		42,809		3,711		3,712
Residential mortgage backed - non-agency	73,450		541		125,113		8,220		8,761
Commercial mortgage backed - agency	11,124		89		29,000		730		819
Commercial mortgage backed - non-agency	6,274		—		98,720		2,849		2,849
Asset-backed	12,548		171		28,319		649		820
Other	9,675		74		12,973		1,225		1,299
Total	$	370,246	$	8,477	$	923,235	$	102,507	$	110,984


	December 31, 2024
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	—	$	149,127	$	16,492	$	16,492
Obligations of states and municipalities	181,027		5,338		433,488		73,965		79,303
Residential mortgage backed - agency	203		2		42,233		4,177		4,179
Residential mortgage backed - non-agency	110,191		1,911		134,727		10,221		12,132
Commercial mortgage backed - agency	3,412		29		28,885		718		747
Commercial mortgage backed - non-agency	30,064		523		108,761		3,589		4,112
Asset-backed	4,140		4		29,243		564		568
Other	15,123		138		8,295		1,205		1,343
Total	$	344,160	$	7,945	$	934,759	$	110,931	$	118,876

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Allowance for Credit Losses

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining nine months ending, December 31, 2025	$ 11,255
2026	13,097
2027	10,641
2028	8,186
2029	5,730
Thereafter	4,093
Total core deposit intangible	$ 53,002

Fair Value Measurements - Schedule of Fair Value Disclosure of Asset and Liability Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Financial assets
Cash and due from banks	$ 63,294	$ 35,554
Financial liabilities
Subordinated debentures, net	96,212	94,872
Subordinated debentures owed to unconsolidated subsidiary trusts	17,077	17,013
Carrying Amount
Financial assets
Cash and due from banks	63,294	35,554
Loans, net	5,579,754	5,604,196
Accrued interest	34,481	34,454
Financial liabilities
Short-term borrowings	300,000	365,000
Subordinated debentures, net	96,212	94,872
Subordinated debentures owed to unconsolidated subsidiary trusts	17,077	17,013
Accrued interest	6,075	6,157
Carrying Amount \| Non-interest-bearing deposits
Financial liabilities
Deposit liabilities	1,382,427	1,379,940
Carrying Amount \| Interest-bearing deposits
Financial liabilities
Deposit liabilities	5,159,444	5,135,299
Carrying Amount \| Interest-earning deposits with banks
Financial assets
Interest-earning deposits with banks	85,552	99,760
Fair Value Amount
Financial assets
Cash and due from banks	63,294	35,554
Loans, net	5,448,804	5,465,722
Accrued interest	34,481	34,454
Financial liabilities
Short-term borrowings	299,696	364,985
Subordinated debentures, net	94,334	91,760
Subordinated debentures owed to unconsolidated subsidiary trusts	16,321	14,587
Accrued interest	6,075	6,157
Fair Value Amount \| Non-interest-bearing deposits
Financial liabilities
Deposit liabilities	1,382,427	1,379,940
Fair Value Amount \| Interest-bearing deposits
Financial liabilities
Deposit liabilities	5,151,550	5,126,423
Fair Value Amount \| Interest-earning deposits with banks
Financial assets
Interest-earning deposits with banks	85,552	99,760
(Level 1) \| Fair Value Amount
Financial assets
Cash and due from banks	63,294	35,554
Loans, net	0	0
Accrued interest	0	0
Financial liabilities
Short-term borrowings	0	0
Subordinated debentures, net	0	0
Subordinated debentures owed to unconsolidated subsidiary trusts	0	0
Accrued interest	0	0
(Level 1) \| Fair Value Amount \| Non-interest-bearing deposits
Financial liabilities
Deposit liabilities	0	0
(Level 1) \| Fair Value Amount \| Interest-bearing deposits
Financial liabilities
Deposit liabilities	0	0
(Level 1) \| Fair Value Amount \| Interest-earning deposits with banks
Financial assets
Interest-earning deposits with banks	85,552	99,760
(Level 2) \| Fair Value Amount
Financial assets
Cash and due from banks	0	0
Loans, net	0	0
Accrued interest	34,481	34,454
Financial liabilities
Short-term borrowings	299,696	364,985
Subordinated debentures, net	94,334	91,760
Subordinated debentures owed to unconsolidated subsidiary trusts	16,321	14,587
Accrued interest	6,075	6,157
(Level 2) \| Fair Value Amount \| Non-interest-bearing deposits
Financial liabilities
Deposit liabilities	1,382,427	1,379,940
(Level 2) \| Fair Value Amount \| Interest-bearing deposits
Financial liabilities
Deposit liabilities	5,151,550	5,126,423
(Level 2) \| Fair Value Amount \| Interest-earning deposits with banks
Financial assets
Interest-earning deposits with banks	0	0
(Level 3) \| Fair Value Amount
Financial assets
Cash and due from banks	0	0
Loans, net	5,448,804	5,465,722
Accrued interest	0	0
Financial liabilities
Short-term borrowings	0	0
Subordinated debentures, net	0	0
Subordinated debentures owed to unconsolidated subsidiary trusts	0	0
Accrued interest	0	0
(Level 3) \| Fair Value Amount \| Non-interest-bearing deposits
Financial liabilities
Deposit liabilities	0	0
(Level 3) \| Fair Value Amount \| Interest-bearing deposits
Financial liabilities
Deposit liabilities	0	0
(Level 3) \| Fair Value Amount \| Interest-earning deposits with banks
Financial assets
Interest-earning deposits with banks	$ 0	$ 0

Derivatives - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Other liabilities \| Derivatives designated as hedges: \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,000	$ 50,000
Derivative liability, fair value	219	165
Other liabilities \| Derivatives not designated as hedges:
Derivatives, Fair Value [Line Items]
Notional Amount	99,699	99,899
Derivative liability, fair value	1,591	1,823
Other assets \| Derivatives designated as hedges: \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	250,000	250,000
Derivative asset, fair value	514	1,368
Other assets \| Derivatives not designated as hedges:
Derivatives, Fair Value [Line Items]
Notional Amount	99,699	99,899
Derivative asset, fair value	$ 1,591	$ 1,823

Share-Based Compensation - Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions (Details) - Stock Appreciation Rights (SARs) - $ / shares		3 Months Ended
	May 03, 2024	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
# of years to full vesting		7 years
2019 SAR
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
# of years to full vesting	7 years
Fair value (in dollars per share)	$ 14.89
Risk-free interest rate	4.51%
Expected dividend yield	3.95%
Expected common stock volatility	32.56%
Expected contractual life (in years)	4 years 9 months 7 days
2021 SAR
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
# of years to full vesting	7 years
Fair value (in dollars per share)	$ 16.92
Risk-free interest rate	4.32%
Expected dividend yield	3.95%
Expected common stock volatility	32.56%
Expected contractual life (in years)	7 years 2 months 12 days
2023 SAR
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
# of years to full vesting	7 years
Fair value (in dollars per share)	$ 14.56
Risk-free interest rate	4.14%
Expected dividend yield	3.95%
Expected common stock volatility	32.56%
Expected contractual life (in years)	8 years 9 months 7 days

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value per share (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, authorized (in shares)	2,000,000	2,000,000
Preferred stock, issued (in shares)	1,500	1,500
Preferred stock, outstanding (in shares)	1,500	1,500
Common stock, par value per share (in dollars per share)	$ 0.50	$ 0.50
Common stock, authorized (in shares)	40,000,000	40,000,000
Common stock, issued (in shares)	15,554,097	15,540,394
Common stock, outstanding (in shares)	14,982,807	14,969,104
Treasury stock, shares (in shares)	571,290	571,290

Loans - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Unamortized loan fee	$ 4.2	$ 4.4

Business Combination - Narrative (Details)	May 03, 2024 USD ($) shares	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Preliminary goodwill		$ 32,842,000	$ 32,783,000	$ 0	$ 0
Summit Financial Group, Inc
Business Acquisition [Line Items]
Common stock portion, number of Burke & Herbert stock for each share of Summit common stock converted (in shares) \| shares	0.5043
Consideration payable (in shares) \| shares	7,405,772
Preferred stock, fixed rate (as a percent)	6.00%
Preliminary goodwill	$ 32,842,000	$ 32,842,000	$ 32,783,000
Goodwill, expected tax deductible amount	$ 0
Estimated weighted average life	7 years
Goodwill and intangibles	$ 68,760,000
Summit Financial Group, Inc \| Financial Asset Acquired with Credit Deterioration
Business Acquisition [Line Items]
Business combination, acquired receivable, fair value	380,800,000
Business combination, acquired receivable, gross contractual amount	$ 442,300,000

Allowance for Credit Losses

3 Months Ended

Mar. 31, 2025

Credit Loss [Abstract]

On January 1, 2023, the Company adopted the CECL methodology as required under Accounting Standards Codification (“ASC”) 326. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. All information presented as of March 31, 2025, is in accordance with ASC 326.

The Company’s ACL is calculated quarterly, with any adjustment recorded to the provision for credit losses in the Consolidated Statement of Income. Management calculates the quantitative portion of collectively evaluated loans for all loan categories using the weighted average remaining maturity (“WARM”) method. For purposes of estimating the Company’s ACL, management generally evaluates collectively evaluated loans by federal call code in order to group loans with similar risk characteristics.

Loans that do not share similar risk characteristics are evaluated on an individual loan basis and are excluded from the collective evaluation for the ACL. Loans identified to be individually evaluated under CECL include loans on non-accrual status and may include accruing loans that do not share similar risk characteristics to other accruing loans that are collectively evaluated on a loan pool basis. A specific reserve analysis may be applied to the individually evaluated loans, which considers collateral value, an observable market price, or the present value of the expected future cash flows. A specific reserve is assigned if the measured value of the loan using one of the before mentioned methods is less than the carrying value of the loan.

Based on management’s analysis, adjustments may be applied for additional factors impacting the risk of loss in the loan portfolio beyond the information that is used to calculate a reasonable and supportable forecast and a reversion period forecast on collectively evaluated loans. Management may consider an additional or reduced reserve as warranted through qualitative risk factors based on the current and expected conditions as measured in supplemental information relative to the macroeconomic variable loss drivers used to calculate a reasonable and supportable forecast and a reversion period

forecast. These qualitative risk factors considered by management are largely comparable to legacy factors prior to the adoption of CECL.

The following tables present the activity in the ACL three months ended March 31, 2025, and the three months ended March 31, 2024, (in thousands).


	Commercial real estate		Owner-occupied commercial real estate		Acquisition, construction & development		Commercial & industrial		Single family residential (1-4 units)		Consumer non-real estate and other		Total
Three months ended
March 31, 2025
Balance, beginning of period	$	30,444	$	3,261	$	17,386	$	6,633	$	9,763	$	553	$	68,040
Provision for (recapture of) credit losses	4,296		699		(5,912)		1,728		(308)		397		900
Charge-offs	—		(687)		—		(93)		(33)		(611)		(1,424)
Recoveries	6		—		—		4		132		95		237
Balance, end of period	$	34,746	$	3,273	$	11,474	$	8,272	$	9,554	$	434	$	67,753

March 31, 2024
Balance, beginning of period	$	20,633	$	783	$	368	$	645	$	2,797	$	75	$	25,301
Provision for (recapture of) credit losses	(1,659)		(1)		306		179		474		31		(670)
Charge-offs	—		—		—		—		—		(30)		(30)
Recoveries	3		—		—		—		1		1		5
Balance, end of period	$	18,977	$	782	$	674	$	824	$	3,272	$	77	$	24,606

The recorded investment in loans excludes accrued interest receivable due to immateriality. The following table presents the aging of the recorded investment in past due loans as of March 31, 2025, and December 31, 2024, by portfolio segment (in thousands):


	March 31, 2025
	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due		Total Past Due		Current Loans		Total Loans		90 Days Past Due & Still Accruing		Non-accrual loans
Commercial real estate	$	18,875	$	18,621	$	31,024	$	68,520	$	2,741,053	$	2,809,573	$	12,585	$	24,269
Owner-occupied commercial real estate	6,335		277		5,448		12,060		577,829		589,889		183		5,856
Acquisition, construction & development	2,525		3,897		7,408		13,830		309,133		322,963		6,560		1,057
Commercial & industrial	3,559		629		4,431		8,619		604,600		613,219		1,826		2,755
Single family residential (1-4 units)	13,412		1,733		3,099		18,244		1,143,162		1,161,406		2,167		7,165
Consumer non-real estate and other	416		178		265		859		149,598		150,457		4		329
Total	$	45,122	$	25,335	$	51,675	$	122,132	$	5,525,375	$	5,647,507	$	23,325	$	41,431

	December 31, 2024
	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due		Total Past Due		Current Loans		Total Loans		90 Days Past Due & Still Accruing		Non-accrual loans
Commercial real estate	$	10,974	$	—	$	8,440	$	19,414	$	2,618,388	$	2,637,802	$	—	$	19,183
Owner-occupied commercial real estate	1,160		1,636		5,240		8,036		606,326		614,362		307		5,760
Acquisition, construction & development	5,210		38		1,243		6,491		459,046		465,537		812		1,098
Commercial & industrial	1,654		1,594		1,469		4,717		608,368		613,085		350		1,757
Single family residential (1-4 units)	20,724		4,379		3,420		28,523		1,145,226		1,173,749		1,012		7,857
Consumer non-real estate and other	637		300		195		1,132		166,569		167,701		16		216
Total	$	40,359	$	7,947	$	20,007	$	68,313	$	5,603,923	$	5,672,236	$	2,497	$	35,871

Credit Quality Indicators

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, current economic information, and other factors. The Company analyzes loans individually by classifying the loans by

credit risk. The Company internally grades all commercial loans at the time of origination. In addition, the Company performs an annual review on at least 50% of the Bank’s commercial credit exposure to each borrower. The Company uses the following definitions for credit risk classifications:

Pass: These include satisfactory loans that have acceptable levels of risk.

Special Mention: Loans classified as special mention have a potential credit weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard: Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the orderly liquidation of debt. Loans classified as substandard are inadequately protected by sound net worth, payment capacity of the borrower, or of the collateral pledged. If weaknesses go uncorrected, there is potential for partial loss of principal and/or interest.

Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and unlikely.

Loss: Loans classified as a loss are considered to be uncollectible and cannot be justified to continue as viable assets. While there may be the possibility of some recovery in the future, it is not practical or desirable to defer writing off these loans at the present time.

The Company has a portfolio of smaller homogenous loans that are not individually risk rated that are included within the single family residential and consumer non-real estate and other loan classes. Generally, these loan classes are rated as “Pass” unless these loans are on non-accrual and are then classified as substandard.

The following table presents the amortized cost basis of the loan portfolio, by year of origination, loan class, and credit quality, as of March 31, 2025, and December 31, 2024 (in thousands):


	March 31, 2025
	Term Loans
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Total
Commercial real estate
Pass	$	53,721	$	250,191	$	418,646	$	492,172	$	397,562	$	723,022	$	106,222	$	2,441,536
Special Mention	—		—		6,768		61,488		70,976		58,404		14,327		211,963
Substandard	—		—		16,333		18,433		20,812		60,808		37,838		154,224
Doubtful	—		—		—		—		—		1,850		—		1,850
Loss	—		—		—		—		—		—		—		—
Total	$	53,721	$	250,191	$	441,747	$	572,093	$	489,350	$	844,084	$	158,387	$	2,809,573

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Owner-occupied commercial real estate
Pass	$	6,784	$	59,155	$	69,389	$	91,995	$	124,891	$	197,017	$	27,794	$	577,025
Special Mention	—		—		—		—		240		1,249		—		1,489
Substandard	—		—		—		5,124		1,495		4,677		79		11,375
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total	$	6,784	$	59,155	$	69,389	$	97,119	$	126,626	$	202,943	$	27,873	$	589,889

Year to date gross charge-offs	$	—	$	—	$	—	$	227	$	6	$	394	$	60	$	687

Acquisition, construction & development
Pass	$	4,454	$	28,785	$	94,849	$	62,950	$	85,567	$	18,278	$	14,606	$	309,489
Special Mention	—		—		—		—		247		140		—		387
Substandard	—		—		85		4,247		3,488		5,058		—		12,878
Doubtful	—		—		—		—		—		—		209		209


Loss	—		—		—		—		—		—		—		—
Total	$	4,454	$	28,785	$	94,934	$	67,197	$	89,302	$	23,476	$	14,815	$	322,963

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial & industrial
Pass	$	46,948	$	104,224	$	47,683	$	42,757	$	22,680	$	40,291	$	227,248	$	531,831
Special Mention	124		342		—		33,973		10,472		1,489		20,462		66,862
Substandard	—		37		281		2,655		514		1,170		9,824		14,481
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		37		8		45
Total	$	47,072	$	104,603	$	47,964	$	79,385	$	33,666	$	42,987	$	257,542	$	613,219

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	93	$	93

Single family residential (1-4 units)
Pass	$	10,525	$	88,310	$	150,857	$	197,118	$	140,896	$	397,277	$	168,957	$	1,153,940
Special Mention	—		—		—		—		—		202		—		202
Substandard	—		—		1,542		904		577		3,725		417		7,165
Doubtful	—		—		—		—		—		98		—		98
Loss	—		—		—		—		—		1		—		1
Total	$	10,525	$	88,310	$	152,399	$	198,022	$	141,473	$	401,303	$	169,374	$	1,161,406

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	19	$	14	$	33

Consumer non-real estate and other
Pass	$	2,709	$	17,556	$	9,314	$	5,034	$	1,459	$	3,409	$	110,774	$	150,255
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		67		72		6		—		17		—		162
Doubtful	—		—		—		—		3		2		—		5
Loss	—		—		2		—		—		—		33		35
Total	$	2,709	$	17,623	$	9,388	$	5,040	$	1,462	$	3,428	$	110,807	$	150,457

Year to date gross charge-offs	$	485	$	54	$	54	$	16	$	—	$	—	$	2	$	611

Totals	$	125,265	$	548,667	$	815,821	$	1,018,856	$	881,879	$	1,518,221	$	738,798	$	5,647,507


	December 31, 2024
	Term Loans
	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total
Commercial real estate
Pass	$	248,023	$	378,322	$	482,195	$	337,136	$	153,187	$	588,490	$	96,914	$	2,284,267
Special Mention	—		7,148		30,018		52,885		7,154		57,255		28,211		182,671
Substandard	—		2,232		49,752		39,636		2,999		52,740		23,505		170,864
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total	$	248,023	$	387,702	$	561,965	$	429,657	$	163,340	$	698,485	$	148,630	$	2,637,802

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	382	$	—	$	382

Owner-occupied commercial real estate
Pass	$	61,433	$	72,571	$	93,941	$	126,700	$	36,197	$	170,809	$	32,452	$	594,103
Special Mention	—		—		—		243		2,729		1,275		—		4,247
Substandard	—		—		5,192		1,496		5,499		3,594		82		15,863
Doubtful	—		—		—		—		—		149		—		149
Loss	—		—		—		—		—		—		—		—
Total	$	61,433	$	72,571	$	99,133	$	128,439	$	44,425	$	175,827	$	32,534	$	614,362


Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Acquisition, construction & development
Pass	$	25,461	$	109,751	$	90,652	$	147,702	$	3,564	$	16,312	$	15,107	$	408,549
Special Mention	—		—		—		2,641		142		—		—		2,783
Substandard	—		13,115		4,467		3,326		21,372		63		11,564		53,907
Doubtful	—		—		—		—		—		—		298		298
Loss	—		—		—		—		—		—		—		—
Total	$	25,461	$	122,866	$	95,119	$	153,669	$	25,078	$	16,375	$	26,969	$	465,537

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial & industrial
Pass	$	108,206	$	57,280	$	47,828	$	35,189	$	15,109	$	28,019	$	237,852	$	529,483
Special Mention	365		—		35,237		10,898		1,505		—		16,856		64,861
Substandard	37		285		4,482		618		523		1,029		11,765		18,739
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		2		—		2
Total	$	108,608	$	57,565	$	87,547	$	46,705	$	17,137	$	29,050	$	266,473	$	613,085

Year to date gross charge-offs	$	—	$	10	$	195	$	87	$	—	$	9	$	—	$	301

Single family residential (1-4 units)
Pass	$	88,857	$	152,438	$	201,410	$	142,719	$	77,783	$	332,025	$	170,077	$	1,165,309
Special Mention	—		—		—		—		—		214		174		388
Substandard	—		1,494		800		586		605		3,935		437		7,857
Doubtful	—		—		—		—		—		—		—		—
Loss	93		—		—		—		—		1		101		195
Total	$	88,950	$	153,932	$	202,210	$	143,305	$	78,388	$	336,175	$	170,789	$	1,173,749

Year to date gross charge-offs	$	—	$	39	$	28	$	—	$	—	$	123	$	—	$	190

Consumer non-real estate and other
Pass	$	21,095	$	10,796	$	6,122	$	1,836	$	1,096	$	2,797	$	123,148	$	166,890
Special Mention	15		—		—		—		—		—		—		15
Substandard	363		90		17		—		—		17		—		487
Doubtful	—		—		—		5		3		—		—		8
Loss	289		12		—		—		—		—		—		301
Total	$	21,762	$	10,898	$	6,139	$	1,841	$	1,099	$	2,814	$	123,148	$	167,701

Year to date gross charge-offs	$	468	$	71	$	17	$	1	$	—	$	20	$	357	$	934

Totals	$	554,237	$	805,534	$	1,052,113	$	903,616	$	329,467	$	1,258,726	$	768,543	$	5,672,236

The following tables present information about collateral-dependent loans that were individually evaluated for purposes of determining the ACL as of March 31, 2025, and December 31, 2024 (in thousands):


	March 31, 2025
	With Allowance				With No Related Allowance		Total
	Amortized Cost		Related Allowance		Amortized Cost		Amortized Cost		Related Allowance
March 31, 2025
Commercial real estate	$	6,220	$	5,034	$	18,873	$	25,093	$	5,034
Owner-occupied commercial real estate	—		—		2,067		2,067		—
Acquisition, construction & development	446		214		615		1,061		214
Commercial & industrial	983		983		807		1,790		983
Single family residential (1-4 units)	—		—		3,943		3,943		—
Consumer non-real estate and other	—		—		—		—		—
Total	$	7,649	$	6,231	$	26,305	$	33,954	$	6,231


	December 31, 2024
	With Allowance				With No Related Allowance		Total
	Amortized Cost		Related Allowance		Amortized Cost		Amortized Cost		Related Allowance
December 31, 2024
Commercial real estate	$	7,459	$	4,791	$	12,439	$	19,898	$	4,791
Owner-occupied commercial real estate	—		—		1,833		1,833		—
Acquisition, construction & development	535		303		369		904		303
Commercial & industrial	983		734		348		1,331		734
Single family residential (1-4 units)	898		26		3,408		4,306		26
Consumer non-real estate and other	—		—		—		—		—
Total	$	9,875	$	5,854	$	18,397	$	28,272	$	5,854

Purchased Credit Deteriorated Loans

The Company has purchased loans for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans, at acquisition, is as follows (in thousands):


	Amounts
Purchase price of loans at acquisition	$	380,795
Allowance for credit losses at acquisition	23,910
Non-credit discount/(premium) at acquisition	37,640

Par value of acquired loans at acquisition	$	442,345

Loan Modifications

On January 1, 2023, the Company adopted ASU 2022-02 on a modified retrospective basis. ASU 2022-02 eliminates the troubled debt restructuring (“TDR”) accounting model and requires that the Company evaluate, based on the accounting for loan modifications, whether the borrower is experiencing financial difficulty, and the modification results in a more-than-insignificant direct change in the contractual cash flows and represents a new loan or a continuation of an existing loan. This change required all loan modifications to be accounted for under the general loan modification guidance in ASC 310-20, Receivables — Nonrefundable Fees and Other Costs, and subjects entities to new disclosure requirements on loan modifications to borrowers experiencing financial difficulty.

The Company may modify loans to borrowers experiencing financial difficulty by providing principal forgiveness, term extension, interest rate reduction, or an other-than-insignificant payment delay. When principal forgiveness is provided, the amount of forgiveness is charged off against the ACL. The Company may also provide multiple types of modifications on

an individual loan. For the three months ended March 31, 2025, and for the year ended, December 31, 2024, the Company did not extend any modifications to borrowers experiencing financial difficulty that had a more-than-insignificant direct change in the contractual cash flows of the loan.

Other Real Estate Owned

Real estate owned activity was as follows for the three months ended March 31, 2025, and for the year ended, December 31, 2024 (in thousands):


	March 31, 2025		December 31, 2024
Beginning balance	$	2,783	$	—
Loans acquired/transferred to real estate owned	—		3,541
Capital expenditures	—		—
Direct write-downs	—		—
Sales of real estate owned	(158)		(758)

End of period balance	$	2,625	$	2,783

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the change in goodwill for the three months ended March 31, 2025, and March 31, 2024, (in thousands):


	Three Months Ended March 31,
	2025		2024
Beginning of period	$	32,783	$	—
Acquired goodwill	—		—
Goodwill adjustment	59		—
Impairment	—		—

End of period	$	32,842	$	—

Schedule of Finite-Lived Intangible Assets

The gross carrying amounts and accumulated amortization of other intangible assets for the three months ended March 31, 2025, and March 31, 2024, were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Beginning of period	$	57,300	$	—
Core deposit intangible acquired	—		—
Amortization	(4,298)		—
Impairment	—		—

Total core deposit intangible	$	53,002	$	—

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for future years is as follows (in thousands):


	Estimated Amortization
Remaining nine months ending, December 31, 2025	$	11,255
2026	13,097
2027	10,641
2028	8,186
2029	5,730
Thereafter	4,093
Total	$	53,002

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Goodwill [Roll Forward]
Beginning of period	$ 32,783	$ 0	$ 0
Acquired goodwill	0	0
Goodwill adjustment	59	0
Impairment	0	0
End of period	$ 32,842	$ 0	$ 32,783

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Share-Based Payment Arrangement [Abstract]

Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 428	$ (447)
Interest Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded.	40	(443)
Interest Income \| Interest Rate Products
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedging items	40	40
Derivatives designated as hedging instruments	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	(483)
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring	0	0
Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded.	428	36
Interest Expense \| Interest Rate Products
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedging items	0	0
Derivatives designated as hedging instruments	0	0
Amount of gain or (loss) reclassified from AOCI into income	428	36
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring	$ 0	$ 0

Securities - Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Fair Value
Less Than Twelve Months	$ 370,246	$ 344,160
More Than Twelve Months	923,235	934,759
Gross Unrealized Losses
Less Than Twelve Months	8,477	7,945
More Than Twelve Months	102,507	110,931
Total Unrealized Losses	110,984	118,876
U.S. Treasuries and government agencies
Fair Value
Less Than Twelve Months	0	0
More Than Twelve Months	151,793	149,127
Gross Unrealized Losses
Less Than Twelve Months	0	0
More Than Twelve Months	13,448	16,492
Total Unrealized Losses	13,448	16,492
Obligations of states and municipalities
Fair Value
Less Than Twelve Months	257,175	181,027
More Than Twelve Months	434,508	433,488
Gross Unrealized Losses
Less Than Twelve Months	7,601	5,338
More Than Twelve Months	71,675	73,965
Total Unrealized Losses	79,276	79,303
Residential mortgage backed - agency
Fair Value
Less Than Twelve Months	0	203
More Than Twelve Months	42,809	42,233
Gross Unrealized Losses
Less Than Twelve Months	1	2
More Than Twelve Months	3,711	4,177
Total Unrealized Losses	3,712	4,179
Residential mortgage backed - non-agency
Fair Value
Less Than Twelve Months	73,450	110,191
More Than Twelve Months	125,113	134,727
Gross Unrealized Losses
Less Than Twelve Months	541	1,911
More Than Twelve Months	8,220	10,221
Total Unrealized Losses	8,761	12,132
Commercial mortgage backed - agency
Fair Value
Less Than Twelve Months	11,124	3,412
More Than Twelve Months	29,000	28,885
Gross Unrealized Losses
Less Than Twelve Months	89	29
More Than Twelve Months	730	718
Total Unrealized Losses	819	747
Commercial mortgage backed - non-agency
Fair Value
Less Than Twelve Months	6,274	30,064
More Than Twelve Months	98,720	108,761
Gross Unrealized Losses
Less Than Twelve Months	0	523
More Than Twelve Months	2,849	3,589
Total Unrealized Losses	2,849	4,112
Asset-backed
Fair Value
Less Than Twelve Months	12,548	4,140
More Than Twelve Months	28,319	29,243
Gross Unrealized Losses
Less Than Twelve Months	171	4
More Than Twelve Months	649	564
Total Unrealized Losses	820	568
Other
Fair Value
Less Than Twelve Months	9,675	15,123
More Than Twelve Months	12,973	8,295
Gross Unrealized Losses
Less Than Twelve Months	74	138
More Than Twelve Months	1,225	1,205
Total Unrealized Losses	$ 1,299	$ 1,343

Derivatives - Narrative (Details) - USD ($)	3 Months Ended
Derivatives - Narrative (Details) - USD ($)	Mar. 31, 2025	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Reduction to interest expense	$ 360,000.0
Fair value of interest rate swaps	0
Fair value of liabilities	$ 200,000	$ 500,000

Share-Based Compensation

3 Months Ended

Mar. 31, 2025

Share-Based Compensation

The Company has a share-based incentive plan described below that allows it to offer a variety of equity compensation awards subject to approval. Total compensation cost that has been charged against income for the share-based awards

granted was $1.3 million and $590.5 thousand for the three months ended March 31, 2025, and March 31, 2024, respectively. The total income tax benefit was $264.7 thousand and $124.0 thousand for the three months ended March 31, 2025, and March 31, 2024, respectively.

2019 Stock Incentive Plan

In 2019, the Company’s Stock Incentive Plan (“2019 SIP”) was approved by the Bank’s Board of Directors (the “Bank Board). The 2019 SIP provides for the issuance of share-based awards to directors and employees of the Company. The 2019 SIP authorized 240,000 units to be issued, and the Company’s practice is using authorized unissued shares to satisfy these share-based awards. Each unit represents a contingent right to receive one common share or an equivalent amount of cash, or a combination of the two, at the discretion of the Company. Currently, we have a sufficient number of authorized unissued shares to satisfy all outstanding equity awards.

Under the 2019 SIP, the Company has issued restricted stock unit (“RSU”) awards that are both time-based and performance-based. Each RSU award will indicate the number of shares, the conditions (e.g., service, performance, and/or a combination), and the grant date. Compensation expense is recognized over the vesting period of the awards based on the fair value of the award at grant date.

2023 Stock Incentive Plan

In 2023, a new stock incentive plan (“2023 SIP”) was approved by the Company’s Board of Directors (the “Board”) and shareholders. Upon the plan’s shareholder approval date of March 30, 2023, no further share-based awards will be issued under the 2019 SIP. The 2023 SIP provides for the issuance of share-based awards to directors and employees of the Company. The 2023 SIP authorized the issuance of 250,000 shares, subject to an annual increase in available shares and shares and shares recycled from the 2019 SIP that were cancelled. Based on our shares outstanding as of March 31, 2025, and awards that were recycled from the 2019 SIP, the total shares authorized for issuance under the plan as of March 31, 2025 was 324,887.

A total of 77,441 and zero shares were issued during the three months ended March 31, 2025, and March 31, 2024, respectively.

For time-based RSUs, the fair value was determined by using the closing stock price on the date prior to the grant date. These RSUs vest over three to five years.

The Board, from time to time, approves performance-based RSU awards that may be earned between a three to five year performance period. Whether or not units are earned at the end of the performance period will be determined based on the achievement of performance and/or market targets (e.g., market capitalization target) over the performance period. If the conditions are achieved, the grant recipient will receive 100% of the units granted as these awards do not provide for a multiplier effect. The performance/market targets are determined by the Board.

The fair value for performance-based RSU awards was determined by using a Monte Carlo simulation analysis to estimate the achievement of the market capitalization target determined by the Board. The Monte Carlo simulation analysis required the following inputs: (1) expected term, (2) expected volatility, (3) risk-free rate, and (4) dividend yield. The expected term was based on the stated performance period. Management used the expected volatility from a peer group. The risk-free interest rate is based on the U.S. Treasury yield curve over the performance period. The dividend yield assumption was based on historical and anticipated dividend payouts.

The following is a summary of all the Company’s RSU awards issued under both the 2019 SIP and 2023 SIP:


Non-vested Shares	Shares	Weighted-Average Grant-Date Fair Value
Non-vested at December 31, 2024	134,202	$	57.67
Granted	77,441	58.49
Vested	(9,360)	54.78
Forfeited	—	—
Non-vested at March 31, 2025	202,283	$	58.12

As of March 31, 2025, there was $8.4 million of total unrecognized compensation costs related to non-vested shares granted under both the 2019 SIP and 2023 SIP. The cost is expected to be recognized over a weighted average period of 1.57 years.

2023 Employee Stock Purchase Plan

In 2023, an employee stock purchase plan (“2023 ESPP”) was approved by the Board and shareholders. Upon the 2023 ESPP’s shareholder approval date of March 30, 2023, the 2023 ESPP reserved 250,000 shares of common stock for issuance to employees, subject to an annual increase in reserved shares. At March 31, 2025, 305,210 shares were available to be issued. Whole shares are sold to participants in the 2023 ESPP at 85% of the lower of the stock price at the beginning or end of each semi-annual offering period. The first semi-annual offering period began on September 1, 2023, and the current semi-annual offering period began on March 1, 2025. Eligible employees may purchase shares in an amount that does not exceed the lesser of the IRS limit of $25,000 or 15% of their annual salary.

The following table presents information for the 2023 ESPP for the three months ended March 31, 2025:


	March 31, 2025
Shares purchased	7,020
Weighted average price of shares purchased	$	53.01
Compensation expense recognized (in 000's)	$	43.9

Stock Appreciation Rights (“SARs”)

Upon completion of the Merger and as a part of the Merger Agreement, Burke & Herbert assumed SAR awards that had been issued to existing employees that would continue with the same terms and conditions adjusted for the exchange ratio of 0.5043. As part of the Merger, a significant portion of SAR awards accelerated their vesting and thus did not require any future service component. Management used the Black-Scholes option-pricing model to fair value these accelerated SAR awards and included this value as part of the purchase price consideration discussed in Note 16 - Business Combination.

The Company also used the Black-Scholes option-pricing model to fair value the non-accelerated SAR awards that were not fully vested. The SAR awards that have been assumed by the Company, were issued in 2019, 2021, and 2023, and these SAR awards become exercisable ratably over seven years (14.3% per year) and contractually expire ten years after the grant date.

Upon completion of the Merger, the Company determined the fair value per SAR using the following assumptions:


	2019 SAR			2021 SAR			2023 SAR
# of years to full vesting	7 years			7 years			7 years
Fair value	$	14.89		$	16.92		$	14.56
Risk-free interest rate	4.51		%	4.32		%	4.14		%
Expected dividend yield	3.95		%	3.95		%	3.95		%
Expected common stock volatility	32.56		%	32.56		%	32.56		%
Expected contractual life (in years)	4.77			7.20			8.77

A summary of SAR and option activity during the three months ended March 31, 2025, is as follows:


				Weighted Average
Dollars in thousands, expect per share information	SARs	Aggregate Intrinsic Value		Remaining Contractual Term (Yrs.)	Exercise Price
Outstanding, December 31, 2024	223,873	$	2,057	5.44	$	46.87
Granted (or acquired)	—	—		—	—
Exercised	260	9		—	23.82
Forfeited	—	—		—	—
Expired	—	—		—	—
Outstanding, March 31, 2025	223,613	$	2,048	5.20	$	46.90

Exercisable SARs:
At March 31, 2025	188,244	$	1,798	4.86	$	46.56

The total fair value of SARs exercised was $7.5 thousand during the three months ended March 31, 2025. The total fair value of SARs vested was $78.0 thousand during the three months ended March 31, 2025. As of March 31, 2025, there was $508.1 thousand of total unrecognized compensation costs related to non-vested SARs acquired through the Merger. The cost is expected to be recognized over a weighted average period of 2.38 years.

Borrowed Funds - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Subordinated debentures
Debt Instrument [Line Items]
Remaining nine months ending, December 31, 2025	$ 0
2026	0
2027	0
2028	0
2029	0
Thereafter	105,000
Total	105,000
Subordinated debentures owed to unconsolidated subsidiary trusts
Debt Instrument [Line Items]
Remaining nine months ending, December 31, 2025	0
2026	0
2027	0
2028	0
2029	0
Thereafter	19,589
Total	$ 19,589

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 27,201	$ 5,212
Unrealized gains (losses) on securities:
Unrealized gain (loss) arising during period, net of tax of ($2,296) and $117 for the three months ended March 31, 2025, and March 31, 2024, respectively	7,688	(441)
Reclassification adjustment for loss (gain) on securities, net of tax of $0 and $0 for the three months ended March 31, 2025, and March 31, 2024, respectively	(1)	0
Reclassification adjustment for loss (gain) on fair value hedge, net of tax of $9 and $9 for the three months ended March 31, 2025, and March 31, 2024, respectively	(31)	(32)
Unrealized gain (loss) on cash flow hedge:
Unrealized holding gain (loss) on cash flow hedge, net of tax of ($111) and ($707) for the three months ended March 31, 2025, and March 31, 2024, respectively	370	2,660
Reclassification adjustment for losses (gains) included in net income, net of tax $99 and ($94) for the three months ended March 31, 2025, and March 31, 2024, respectively	(330)	353
Total other comprehensive income (loss)	7,696	2,540
Comprehensive income (loss)	$ 34,897	$ 7,752

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended March 31, 2025, and March 31, 2024 (in thousands):


	Three months ended March 31, 2025
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	911	$	(92,055)	$	(4,576)	$	(95,720)
Net unrealized gains (losses)	370		7,688		—		8,058
Less: net realized (gains) losses reclassified to earnings	(330)		(32)		—		(362)
Net change in pension plan benefits	—		—		—		—
Ending Balance	$	951	$	(84,399)	$	(4,576)	$	(88,024)

	Three months ended March 31, 2024
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	(490)	$	(97,259)	$	(5,745)	$	(103,494)
Net unrealized gains (losses)	2,660		(441)		—		2,219
Less: net realized (gains) losses reclassified to earnings	353		(32)		—		321
Net change in pension plan benefits	—		—		—		—
Ending Balance	$	2,523	$	(97,732)	$	(5,745)	$	(100,954)

Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2025, and March 31, 2024 (in thousands).


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Income
	Three months ended
	March 31, 2025		March 31, 2024
Cash flow hedges:
Interest rate contracts	$	—	$	(447)	Interest income
Interest rate contracts	428		—		Interest expense
Tax effect	(98)		94		Income tax expense (benefit)
Net of tax	$	330	$	(353)

Available-for-sale securities:
Realized gains (losses) on securities	$	1	$	—	Net gains/(losses) on securities
Realized gains (losses) on basis adjustment for fair value hedges	40		40		Interest income
Tax effect	(9)		(8)		Income tax expense (benefit)
Net of tax	$	32	$	32

Total reclassifications, net of tax	$	362	$	(321)	Net income

Business Combination

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combination

Effective on May 3, 2024, Burke & Herbert completed the Merger with Summit, pursuant to the Merger Agreement.

In the Merger, holders of Summit common stock outstanding at the effective time of the Merger received 0.5043 shares of Burke & Herbert common stock for each share of Summit common stock they owned, subject to the payment of cash in lieu of fractional shares. The total aggregate consideration payable in the Merger was approximately 7,405,772 shares of Burke & Herbert common stock. Additionally, each share of Summit’s 6.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series 2021 issued and outstanding was converted into the right to receive a share of Burke & Herbert Series 2021 Preferred Stock.

We accounted for the Merger using the acquisition method of accounting in accordance with ASC 805, Business Combinations, and accordingly, the assets and liabilities of Summit were recorded at their respective fair values on the date of completion of the Merger. We recognized goodwill of $32.8 million in connection with the acquisition, which is not amortized for financial reporting purposes, but is subject to annual impairment testing. The goodwill arising from the transaction is not deductible for tax purposes and consisted largely of synergies and the cost savings resulting from the combining of the operations of the companies. The fair values of assets and liabilities are subject to refinement for up to one year after the acquisition date if any additional information relative to the acquisition date fair values becomes available. The following table summarizes adjustments to goodwill subsequent to December 31, 2024 (in thousands):


	Goodwill
Balance at December 31, 2024	$	32,783
Adjustment to goodwill acquired in conjunction with the acquisition of Summit	59
Balance at March 31, 2025	$	32,842

The adjustment to goodwill resulted in additional review of deferred tax asset estimates that were established during the Merger.

The core deposit intangible represents the value of long-term deposit relationships acquired in this transaction and will be amortized over an estimated weighted average life of 7 years using an accelerated method which approximates the estimated run-off of the acquired deposits. The fair value of intangible assets related to core deposits was $68.8 million on the date of acquisition.

The fair value of purchased financial assets with credit deterioration was $380.8 million on the date of the acquisition. The gross contractual amounts receivable relating to the purchased financial assets with credit deterioration was $442.3 million. After the Merger, all of the securities, held-to-maturity, were reclassified as available-for-sale.

The following table details the total consideration paid for Summit on May 3, 2024, the fair values of the assets acquired and liabilities assumed and the resulting goodwill at the acquisition date.


($ in thousands, except share information)
Consideration	May 3, 2024
Common stock of Summit Financial Group, Inc.	14,686,738
Exchange ratio	0.5043
Expected Burke & Herbert common stock to be issued	7,406,522
Actual Burke & Herbert common stock issued	7,405,772
Fractional common stock to be paid in cash	750

Actual Burke & Herbert common stock issued	7,405,772
Price per share of Burke & Herbert common stock issued	$	51.67
Purchase price consideration for common stock issued	382,656

Fractional common stock to be paid in cash	750
Average 10 day closing price used to pay fractional common stock	$	53.66
Cash paid for fractional shares	40
Implied value of stock appreciation rights ("SARs") and restricted stock units	4,336
Fair value of preferred stock issued by Burke & Herbert	10,413
Fully diluted transaction value	$	397,445

Goodwill	$	32,842


	As Recorded	Estimated	Estimated
	by Summit	Fair Value	Fair Value
($ in thousands)	May 3, 2024	Adjustments	May 3, 2024
Total purchase price consideration			$	397,445
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and equivalents	53,357	—	53,357
Securities, available-for-sale, at fair value	491,608	—	491,608
Securities, held-to-maturity, at amortized cost	93,573	(7,430)	86,143
Equity and other investments	36,085	—	36,085
Loans, gross	3,707,940	(153,306)	3,554,634
Allowance for credit losses	(49,471)	25,991	(23,480)
Loans, net of allowance	3,658,469	(127,315)	3,531,154
Premises and equipment, net	62,255	13,276	75,531
Accrued interest receivable	19,610	—	19,610
Company-owned life insurance	86,363	—	86,363
Goodwill and intangibles	73,144	(4,384)	68,760
Other assets	43,169	11,263	54,432
Total identifiable assets acquired	4,617,633	(114,590)	4,503,043
Deposits	3,704,072	(7,136)	3,696,936
Borrowings	283,398	—	283,398
Subordinated debentures and trust preferred securities	123,533	(16,466)	107,067
Unfunded reserve liability	6,692	(3,190)	3,502
Accrued interest and other liabilities	47,537	—	47,537
Total liabilities	4,165,232	(26,792)	4,138,440
Total identifiable net assets	452,401	(87,798)	364,603
Goodwill			$	32,842

Allowance for Credit Losses - Schedule of Purchased Credit Deteriorated Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
Credit Loss [Abstract]
Purchase price of loans at acquisition	$ 380,795
Allowance for credit losses at acquisition	23,910
Non-credit discount/(premium) at acquisition	37,640
Par value of acquired loans at acquisition	$ 442,345

Allowance for Credit Losses - Activity in the Allowance for Loan Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 68,040	$ 25,301	$ 25,301
Provision for (recapture of) credit losses	900	(670)
Charge-offs	(1,424)	(30)
Recoveries	237	5
Balance, end of period	67,753	24,606	68,040
Commercial real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	30,444	20,633	20,633
Provision for (recapture of) credit losses	4,296	(1,659)
Charge-offs	0	0	(382)
Recoveries	6	3
Balance, end of period	34,746	18,977	30,444
Owner-occupied commercial real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	3,261	783	783
Provision for (recapture of) credit losses	699	(1)
Charge-offs	(687)	0	0
Recoveries	0	0
Balance, end of period	3,273	782	3,261
Acquisition, construction & development
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	17,386	368	368
Provision for (recapture of) credit losses	(5,912)	306
Charge-offs	0	0	0
Recoveries	0	0
Balance, end of period	11,474	674	17,386
Commercial & industrial
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	6,633	645	645
Provision for (recapture of) credit losses	1,728	179
Charge-offs	(93)	0	(301)
Recoveries	4	0
Balance, end of period	8,272	824	6,633
Single family residential (1-4 units)
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	9,763	2,797	2,797
Provision for (recapture of) credit losses	(308)	474
Charge-offs	(33)	0	(190)
Recoveries	132	1
Balance, end of period	9,554	3,272	9,763
Consumer non-real estate and other
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	553	75	75
Provision for (recapture of) credit losses	397	31
Charge-offs	(611)	(30)	(934)
Recoveries	95	1
Balance, end of period	$ 434	$ 77	$ 553

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
Earnings Per Share - Narrative (Details) - shares	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Stock awards antidilutive (in shares)	41,553	0

Securities

3 Months Ended

Mar. 31, 2025

Securities

The carrying amount of available-for-sale (“AFS”) securities and their approximate fair values at March 31, 2025, and December 31, 2024, are summarized as follows (in thousands):


	March 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	165,241	$	—	$	13,448	$	151,793
Obligations of states and municipalities	795,589		232		79,276		716,545
Residential mortgage backed - agency	57,304		301		3,712		53,893
Residential mortgage backed - non-agency	254,510		283		8,761		246,032
Commercial mortgage backed - agency	41,602		28		819		40,811
Commercial mortgage backed - non-agency	137,791		68		2,849		135,010
Asset-backed	61,396		210		820		60,786
Other	32,928		370		1,299		31,999
Total	$	1,546,361	$	1,492	$	110,984	$	1,436,869


	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	165,619	$	—	$	16,492	$	149,127
Obligations of states and municipalities	777,181		846		79,303		698,724
Residential mortgage backed - agency	57,244		121		4,179		53,186
Residential mortgage backed - non-agency	259,964		44		12,132		247,876
Commercial mortgage backed - agency	33,791		27		747		33,071
Commercial mortgage backed - non-agency	158,621		2		4,112		154,511
Asset-backed	64,308		316		568		64,056
Other	32,861		302		1,343		31,820
Total	$	1,549,589	$	1,658	$	118,876	$	1,432,371

At March 31, 2025, and December 31, 2024, AFS securities with amortized costs of $1.2 billion and $1.2 billion, respectively, and with estimated fair values of $1.1 billion and $1.1 billion, respectively, were pledged to serve as collateral for secured borrowings, derivative exposures, or to secure public deposits as required or permitted by law.


	Proceeds from						Gross realized
Three Months Ended March 31,	Sales		Calls and maturities		Principal Payments		Gains		Losses
2025	$	—	$	10,867	$	39,506	$	1	$	—
2024	1,281		—		35,010		—		—

The tax benefit (provision) related to these net realized gains and losses for March 31, 2025, and March 31, 2024, was ($0.2) thousand, and zero, respectively.


	March 31, 2025
	Amortized Cost
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	5,083	$	160,158	$	—	$	—	$	165,241
Obligations of states and municipalities	2,000		167,205		304,160		322,224		795,589
Residential mortgage backed - agency	17		23,290		23,622		10,375		57,304
Residential mortgage backed - non-agency	10,479		72,758		140,964		30,309		254,510
Commercial mortgage backed - agency	—		23,859		17,743		—		41,602
Commercial mortgage backed - non-agency	75,360		30,083		32,348		—		137,791
Asset-backed	1,778		35,336		24,282		—		61,396
Other	—		2,763		15,719		14,446		32,928
Total	$	94,717	$	515,452	$	558,838	$	377,354	$	1,546,361


	March 31, 2025
	Fair Value
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	4,944	$	146,849	$	—	$	—	$	151,793
Obligations of states and municipalities	2,002		159,789		270,561		284,193		716,545
Residential mortgage backed - agency	17		22,931		20,281		10,664		53,893
Residential mortgage backed - non-agency	10,357		69,198		136,413		30,064		246,032
Commercial mortgage backed - agency	—		23,405		17,406		—		40,811
Commercial mortgage backed - non-agency	74,476		28,936		31,598		—		135,010
Asset-backed	1,780		34,953		24,053		—		60,786
Other	—		2,885		14,761		14,353		31,999
Total	$	93,576	$	488,946	$	515,073	$	339,274	$	1,436,869

At March 31, 2025, and December 31, 2024, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in any amount greater than 10% of shareholders’ equity.

The following table shows the gross unrealized losses and fair value of the Company’s securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2025, and December 31, 2024.

AFS securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):


	March 31, 2025
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	—	$	151,793	$	13,448	$	13,448
Obligations of states and municipalities	257,175		7,601		434,508		71,675		79,276
Residential mortgage backed - agency	—		1		42,809		3,711		3,712
Residential mortgage backed - non-agency	73,450		541		125,113		8,220		8,761
Commercial mortgage backed - agency	11,124		89		29,000		730		819
Commercial mortgage backed - non-agency	6,274		—		98,720		2,849		2,849
Asset-backed	12,548		171		28,319		649		820
Other	9,675		74		12,973		1,225		1,299
Total	$	370,246	$	8,477	$	923,235	$	102,507	$	110,984


	December 31, 2024
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	—	$	149,127	$	16,492	$	16,492
Obligations of states and municipalities	181,027		5,338		433,488		73,965		79,303
Residential mortgage backed - agency	203		2		42,233		4,177		4,179
Residential mortgage backed - non-agency	110,191		1,911		134,727		10,221		12,132
Commercial mortgage backed - agency	3,412		29		28,885		718		747
Commercial mortgage backed - non-agency	30,064		523		108,761		3,589		4,112
Asset-backed	4,140		4		29,243		564		568
Other	15,123		138		8,295		1,205		1,343
Total	$	344,160	$	7,945	$	934,759	$	110,931	$	118,876

The Company is required to conduct an impairment evaluation on AFS securities to determine whether the Company has the intent to sell the security or it is more likely than not that it will be required to sell the security before recovery. If these situations apply, the guidance requires the Company to reduce the security’s amortized cost basis down to its fair value through earnings. The Company also evaluates the unrealized losses on AFS securities to determine if a security’s decline in fair value below its amortized cost basis is due to credit factors. The evaluation is based upon factors such as the creditworthiness of the underlying borrowers, performance of the underlying collateral, if applicable, and the level of credit support in the security structure. Management also evaluates other factors and circumstances that may be indicative of a decline in the fair value of the security due to a credit factor.

This includes, but is not limited to, an evaluation of the type of security, length of time and extent to which the fair value has been less than cost, and near-term prospects of the issuer. If this assessment indicates that a credit loss exists, the present value of the expected cash flows of the security is compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost, an allowance for credit losses (“ACL”) is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis under the current expected credit loss (“CECL”) standard, and declines due to non-credit factors are recorded in accumulated

other comprehensive income (“AOCI”), net of taxes. If a credit loss is recognized in earnings, subsequent improvements to the expectation of collectability will be recognized through the ACL. If the fair value of the security increases above its amortized cost, the unrealized gain will be recorded in accumulated other comprehensive income, net of taxes, in the Consolidated Balance Sheets.

The Company did not record an ACL on the AFS securities as of March 31, 2025, or December 31, 2024. The Company considers the unrealized losses on the AFS securities to be related to fluctuations in market conditions, primarily interest rates, and not reflective of deterioration in credit. The Company had 505 securities in an unrealized loss position as of March 31, 2025. The Company has evaluated AFS securities in an unrealized loss position for credit-related impairment at March 31, 2025, and concluded no impairment existed based on a combination of factors, which included: (1) the securities are of high credit quality, (2) unrealized losses are primarily the result of market volatility and increases in market interest rates, (3) the contractual terms of the investments do not permit the issuer(s) to settle the securities at a price less than the par value of each investment, (4) issuers continue to make timely principal and interest payments, and (5) the Company does not intend to sell any of the investments and the accounting standard of “more likely than not” has not been met for the Company to be required to sell any of the investments before recovery of its amortized cost basis. As such, there was no ACL on AFS securities at March 31, 2025.

Securities of U.S. Treasury and Federal Agencies and Federal Agency Mortgage (Residential and Commercial) Backed Securities

At March 31, 2025, the unrealized losses associated with 11 U.S. Treasuries and Government Agency securities, 14 Residential Mortgage Backed – Agency securities, and 15 Commercial Mortgage Backed – Agency securities were generally driven by changes in interest rates and not due to credit losses given the explicit or implicit guarantees provided by the U.S. government. Therefore, the Company has concluded that the unrealized losses for these securities do not require an ACL at March 31, 2025.

Securities of U.S. States and Municipalities

At March 31, 2025, the unrealized losses associated with 346 State and Municipal securities were primarily caused by changes in interest rates and not the credit quality of the securities. These securities are investment grade and were generally underwritten in accordance with our own investment standards prior to the decision to purchase, without relying on a bond insurer’s guarantee in making the investment decision. These securities will continue to be monitored as part of our ongoing impairment analysis but are expected to perform, even if the rating agencies reduce the credit rating of the bond insurers. As a result, we expect to recover the entire amortized cost basis of these securities. Therefore, the Company has concluded that the unrealized losses for these securities do not require an ACL at March 31, 2025.

Residential & Commercial Mortgage Backed – Non-Agency Securities

At March 31, 2025, the unrealized losses associated with 70 Residential Mortgage Backed – Non-Agency securities and 23 Commercial Mortgage Backed – Non-Agency securities were generally driven by changes in interest rates, credit spreads, and projected collateral losses. We assess for credit impairment by estimating the present value of expected cash flows. The key assumptions for determining expected cash flows include default rates, loss severities, and/or prepayment rates. Based on our assessment of the expected credit losses and the credit enhancement level of the securities, we expect to recover the entire amortized cost of these securities. Therefore, the Company has concluded that the unrealized losses for these securities do not require an ACL at March 31, 2025.

Asset-Backed Securities

At March 31, 2025, the unrealized losses associated with 18 Asset-Backed securities were generally driven by changes in interest rates, credit spreads, and projected collateral losses. We assess for credit impairment by estimating the present value of expected cash flows. The key assumptions for determining expected cash flows include default rates, loss severities, and/or prepayment rates. Based on our assessment of the expected credit losses and the credit enhancement level of the securities, we expect to recover the entire amortized cost of these securities. Therefore, the Company has concluded that the unrealized losses for these securities do not require an ACL at March 31, 2025.

Other Securities

At March 31, 2025, the unrealized losses associated with 8 securities were primarily driven by interest rates and not the credit quality of the securities. These investments were underwritten in accordance with our own investment standards

prior to the decision to purchase, without relying on a bond insurer’s guarantee in making the investment decision. Based on our assessment of the expected credit losses, we expect to recover the entire amortized cost basis of the securities. Therefore, the Company has concluded that the unrealized losses for these securities do not require an ACL at March 31, 2025.

Restricted stock, at cost

The Company’s investment in Federal Home Loan Bank (“FHLB”) stock totaled $19.8 million and $18.2 million at March 31, 2025, and December 31, 2024, respectively. The Company’s investment in Federal Reserve Bank stock totaled $14.8 million and $14.8 million at March 31, 2025, and December 31, 2024, respectively. FHLB and Federal Reserve stock are generally viewed as long-term investments and as restricted investment securities, which are carried at cost, because there is no market for the stocks other than member institutions. Therefore, when evaluating FHLB and Federal Reserve stock for impairment, their values are based on the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The Company does not consider these investments to be impaired at March 31, 2025, and no impairment has been recognized. FHLB stock and Federal Reserve stock are included in a separate line item, restricted stock, at cost on the Consolidated Balance Sheets and are not part of the Company’s AFS securities portfolio.

The Company’s restricted stock line item on the Consolidated Balance Sheets also includes an investment in Community Bankers’ Bank, totaling $111 thousand at March 31, 2025, and $111 thousand at December 31, 2024, which is carried at cost and is not impaired at March 31, 2025. The Company also has other restricted investments including Independent Community Bancorp, Inc. and WV Bankers Title which are included in restricted stock on the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024.

Leased Property - Schedule of Lessor, Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Leases [Abstract]
Operating lease income	$ 693	$ 575
Total lease income	$ 693	$ 575

Share-Based Compensation - Schedule of Employee Stock Purchase Plan (Details) - USD ($)	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense recognized (in 000's)	$ 1,305,000	$ 632,000
Employee Stock \| 2023 Employee Stock Purchase Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares purchased (in shares)	7,020
Weighted average price of shares purchased (in dollars per share)	$ 53.01
Compensation expense recognized (in 000's)	$ 43,900

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Share-Based Compensation - Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Shares
Beginning nonvested (in shares) \| shares	134,202
Granted (in shares) \| shares	77,441
Vested (in shares) \| shares	(9,360)
Forfeited (in shares) \| shares	0
Ending nonvested (in shares) \| shares	202,283
Weighted-Average Grant-Date Fair Value
Beginning nonvested (in dollars per share) \| $ / shares	$ 57.67
Granted (in dollars per share) \| $ / shares	58.49
Vested (in dollars per share) \| $ / shares	54.78
Forfeited (in dollars per share) \| $ / shares	0
Ending nonvested (in dollars per share) \| $ / shares	$ 58.12

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,201	$ 5,212

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Other Intangible Assets

The following table presents the change in goodwill for the three months ended March 31, 2025, and March 31, 2024, (in thousands):


	Three Months Ended March 31,
	2025		2024
Beginning of period	$	32,783	$	—
Acquired goodwill	—		—
Goodwill adjustment	59		—
Impairment	—		—

End of period	$	32,842	$	—

During the year ended December 31, 2024, the Company recorded $32.8 million of goodwill associated with the acquisition of Summit. See Note 16 - Business Combination to the consolidated financial statements for additional detail regarding this transaction.

The Company performs the annual goodwill impairment test on September 30 every year.

Other intangible assets consist of the core deposit intangible which is being amortized on an accelerated basis over its estimated useful life of 7 years. During the year ended December 31, 2024, the Company recorded $68.8 million of core deposit intangibles associated with the acquisition of Summit.

The gross carrying amounts and accumulated amortization of other intangible assets for the three months ended March 31, 2025, and March 31, 2024, were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Beginning of period	$	57,300	$	—
Core deposit intangible acquired	—		—
Amortization	(4,298)		—
Impairment	—		—

Total core deposit intangible	$	53,002	$	—

The Company reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. Total amortization expense associated with intangible assets was $4.3 million for the three months ended March 31, 2025.

Estimated amortization expense for future years is as follows (in thousands):


	Estimated Amortization
Remaining nine months ending, December 31, 2025	$	11,255
2026	13,097
2027	10,641
2028	8,186
2029	5,730
Thereafter	4,093
Total	$	53,002

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Preliminary goodwill	$ 0	$ 0
Amortization of other intangible assets	$ 4,298	0
Summit Financial Group, Inc
Finite-Lived Intangible Assets [Line Items]
Preliminary goodwill			$ 32,800
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	7 years
Core deposit intangible acquired	$ 0	$ 0
Core Deposits \| Summit Financial Group, Inc
Finite-Lived Intangible Assets [Line Items]
Core deposit intangible acquired			$ 68,800

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Leased Property - Schedule of Assets and Liabilities, Lessee (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Right-of-use assets:
Operating leases	$ 12,520	$ 13,203
Finance leases	3,241	3,312
Total right-of-use assets	15,761	16,515
Lease liabilities:
Operating leases	12,960	13,586
Finance leases	3,563	3,620
Total lease liabilities	$ 16,523	$ 17,206

Business Combination - Schedule of Summarizes Adjustments to Goodwill Subsequent (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Business Acquisition [Line Items]
Beginning of period	$ 32,783	$ 0
Adjustment to goodwill acquired in conjunction with the acquisition of Summit	59	0
End of period	32,842	$ 0
Summit Financial Group, Inc
Business Acquisition [Line Items]
Beginning of period	32,783
Adjustment to goodwill acquired in conjunction with the acquisition of Summit	59
End of period	$ 32,842

Financial Services, Banking and Thrift [Abstract]

Deposits

3 Months Ended

Mar. 31, 2025

Deposits

The aggregate amount of time deposits that meet or exceed the FDIC Insurance Limit of $250,000, was approximately $292.3 million and $284.4 million on March 31, 2025, and December 31, 2024, respectively. Brokered time deposits, which are fully insured, totaled $246.9 million and $244.8 million as of March 31, 2025, and December 31, 2024, respectively. Time deposits through the Certificate of Deposit Account Registry Service (“CDARS”) program totaled $32.2 million at March 31, 2025, compared to $35.7 million at December 31, 2024.

The remaining maturities of time deposits as of March 31, 2025 are as follows (in thousands):


As of March 31, 2025
Remaining nine months ending, December 31, 2025	$	987,610
2026	215,992
2027	41,828
2028	8,744
2029	6,057
Thereafter	6,922
Total	$	1,267,153

At March 31, 2025, and December 31, 2024, amounts included in time deposits for individual retirement accounts totaled $118.5 million and $118.9 million, respectively.

Overdrafts of $899.0 thousand and $1.6 million were reclassified to loans as of March 31, 2025, and the year ended December 31, 2024, respectively.

Derivatives - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Recognized in OCI	$ 480	$ 3,368
Amount of Gain or (Loss) Reclassified from AOCI into Income	428	(447)
Amount of Gain or (Loss) Recognized in OCI Excluded Component	0	0
Interest Rate Products \| Interest Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Recognized in OCI	0	(17)
Amount of Gain or (Loss) Reclassified from AOCI into Income	0	(483)
Amount of Gain or (Loss) Recognized in OCI Excluded Component	0	0
Interest Rate Products \| Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Recognized in OCI	480	3,385
Amount of Gain or (Loss) Reclassified from AOCI into Income	428	36
Amount of Gain or (Loss) Recognized in OCI Excluded Component	$ 0	$ 0

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at March 31, 2025, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies	$	151,793	$	—	$	—	$	151,793
Obligations of states and municipalities	—		716,545		—		716,545
Residential mortgage backed - agency	—		53,893		—		53,893
Residential mortgage backed - non-agency	—		246,032		—		246,032
Commercial mortgage backed - agency	—		40,811		—		40,811
Commercial mortgage backed - non-agency	—		135,010		—		135,010
Asset-backed	—		60,786		—		60,786
Other	—		31,999		—		31,999
Total investment securities available-for-sale	$	151,793	$	1,285,076	$	—	$	1,436,869

Loans held-for-sale, at fair value	$	—	$	1,302	$	—	$	1,302

Equity investments	$	—	$	12,258	$	—	$	12,258

Derivatives	$	—	$	2,105	$	—	$	2,105

Financial liabilities
Derivatives	$	—	$	1,810	$	—	$	1,810


	Fair Value Measurements at December 31, 2024, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Financial assets
Investment Securities
U.S. Treasuries and government agencies	$	149,127	$	—	$	—	$	149,127
Obligations of states and municipalities	—		698,724		—		698,724
Residential mortgage backed - agency	—		53,186		—		53,186
Residential mortgage backed - non-agency	—		247,876		—		247,876
Commercial mortgage backed - agency	—		33,071		—		33,071
Commercial mortgage backed - non-agency	—		154,511		—		154,511
Asset-backed	—		64,056		—		64,056
Other	—		31,820		—		31,820
Total investment securities available-for-sale	$	149,127	$	1,283,244	$	—	$	1,432,371

Loans held-for-sale, at fair value	$	—	$	2,331	$	—	$	2,331

Equity investments	$	—	$	12,407	$	—	$	12,407

Derivatives	$	—	$	3,191	$	—	$	3,191

Financial liabilities
Derivatives	$	—	$	1,988	$	—	$	1,988

Schedule of Fair Value Measurements, Nonrecurring

Assets that were measured at fair value on a non-recurring basis during the period are summarized below (in thousands):


	Fair Value Measurements at March 31, 2025, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent loans
Commercial real estate	$	—	$	—	$	1,186	$	1,186
Owner-occupied commercial real estate	—		—		—		—
Acquisition, construction & development	—		—		232		232
Commercial & industrial	—		—		—		—
Single family residential	—		—		—		—
Consumer non-real estate and other	—		—		—		—
Other real estate owned	—		—		2,625		2,625


	Fair Value Measurements at December 31, 2024, Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Collateral dependent loans
Commercial real estate	$	—	$	—	$	2,668	$	2,668
Owner-occupied commercial real estate	—		—		—		—
Acquisition, construction & development	—		—		232		232
Commercial & industrial	—		—		249		249
Single family residential	—		—		872		872
Consumer non-real estate and other	—		—		—		—
Other real estate owned	—		—		2,783		2,783

Schedule of Fair Value Measurement Inputs and Valuation Techniques

Description

Fair Value

Valuation Techniques

Unobservable Inputs

Range

March 31, 2025

Collateral dependent loans

1,418

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,625

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

December 31, 2024

Collateral dependent loans

4,021

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Other real estate owned

2,783

Appraisal of collateral

Management adjustments (e.g., liquidity, selling costs, etc.)

5.0% to 20.0% for liquidity, 6.0% to 8.0% for selling costs

Schedule of Fair Value Disclosure of Asset and Liability Not Measured at Fair Value

The carrying amounts and estimated fair values of financial instruments not carried at fair value, at March 31, 2025, and December 31, 2024, were as follows (in thousands):


			Fair Value Measurements at March 31, 2025, Using:
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets
Cash and due from banks	$	63,294	$	63,294	$	—	$	—	$	63,294
Interest-earning deposits with banks	85,552		85,552		—		—		85,552
Loans, net	5,579,754		—		—		5,448,804		5,448,804
Accrued interest	34,481		—		34,481		—		34,481

Financial Liabilities
Non-interest-bearing deposits	$	1,382,427	$	—	$	1,382,427	$	—	$	1,382,427
Interest-bearing deposits	5,159,444		—		5,151,550		—		5,151,550
Short-term borrowings	300,000		—		299,696		—		299,696
Subordinated debentures, net	96,212		—		94,334		—		94,334
Subordinated debentures owed to unconsolidated subsidiary trusts	17,077		—		16,321		—		16,321
Accrued interest	6,075		—		6,075		—		6,075


			Fair Value Measurements at December 31, 2024, Using:
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets
Cash and due from banks	$	35,554	$	35,554	$	—	$	—	$	35,554
Interest-bearing deposits with banks	99,760		99,760		—		—		99,760
Loans, net	5,604,196		—		—		5,465,722		5,465,722
Accrued interest	34,454		—		34,454		—		34,454

Financial Liabilities
Non-interest-bearing deposits	$	1,379,940	$	—	$	1,379,940	$	—	$	1,379,940
Interest-bearing deposits	5,135,299		—		5,126,423		—		5,126,423
Short-term borrowings	365,000		—		364,985		—		364,985
Subordinated debentures, net	94,872		—		91,760		—		91,760
Subordinated debentures owed to unconsolidated subsidiary trusts	17,013		—		14,587		—		14,587
Accrued interest	6,157		—		6,157		—		6,157

Securities - Expected Maturity for Debt Securities, Available-for-Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Amortized Cost
One Year or Less	$ 94,717
One to Five Years	515,452
Five to Ten Years	558,838
After Ten Years	377,354
Amortized Cost	1,546,361	$ 1,549,589
Fair Value
One Year or Less	93,576
One to Five Years	488,946
Five to Ten Years	515,073
After Ten Years	339,274
Fair Value	1,436,869	1,432,371
U.S. Treasuries and government agencies
Amortized Cost
One Year or Less	5,083
One to Five Years	160,158
Five to Ten Years	0
After Ten Years	0
Amortized Cost	165,241	165,619
Fair Value
One Year or Less	4,944
One to Five Years	146,849
Five to Ten Years	0
After Ten Years	0
Fair Value	151,793	149,127
Obligations of states and municipalities
Amortized Cost
One Year or Less	2,000
One to Five Years	167,205
Five to Ten Years	304,160
After Ten Years	322,224
Amortized Cost	795,589	777,181
Fair Value
One Year or Less	2,002
One to Five Years	159,789
Five to Ten Years	270,561
After Ten Years	284,193
Fair Value	716,545	698,724
Residential mortgage backed - agency
Amortized Cost
One Year or Less	17
One to Five Years	23,290
Five to Ten Years	23,622
After Ten Years	10,375
Amortized Cost	57,304	57,244
Fair Value
One Year or Less	17
One to Five Years	22,931
Five to Ten Years	20,281
After Ten Years	10,664
Fair Value	53,893	53,186
Residential mortgage backed - non-agency
Amortized Cost
One Year or Less	10,479
One to Five Years	72,758
Five to Ten Years	140,964
After Ten Years	30,309
Amortized Cost	254,510	259,964
Fair Value
One Year or Less	10,357
One to Five Years	69,198
Five to Ten Years	136,413
After Ten Years	30,064
Fair Value	246,032	247,876
Commercial mortgage backed - agency
Amortized Cost
One Year or Less	0
One to Five Years	23,859
Five to Ten Years	17,743
After Ten Years	0
Amortized Cost	41,602	33,791
Fair Value
One Year or Less	0
One to Five Years	23,405
Five to Ten Years	17,406
After Ten Years	0
Fair Value	40,811	33,071
Commercial mortgage backed - non-agency
Amortized Cost
One Year or Less	75,360
One to Five Years	30,083
Five to Ten Years	32,348
After Ten Years	0
Amortized Cost	137,791	158,621
Fair Value
One Year or Less	74,476
One to Five Years	28,936
Five to Ten Years	31,598
After Ten Years	0
Fair Value	135,010	154,511
Asset-backed
Amortized Cost
One Year or Less	1,778
One to Five Years	35,336
Five to Ten Years	24,282
After Ten Years	0
Amortized Cost	61,396	64,308
Fair Value
One Year or Less	1,780
One to Five Years	34,953
Five to Ten Years	24,053
After Ten Years	0
Fair Value	60,786	64,056
Other
Amortized Cost
One Year or Less	0
One to Five Years	2,763
Five to Ten Years	15,719
After Ten Years	14,446
Amortized Cost	32,928	32,861
Fair Value
One Year or Less	0
One to Five Years	2,885
Five to Ten Years	14,761
After Ten Years	14,353
Fair Value	$ 31,999	$ 31,820

Business Combination - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		11 Months Ended
	May 03, 2024	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Estimated Fair Value Adjustments
Goodwill		$ 32,842	$ 32,783	$ 0	$ 0
Summit Financial Group, Inc
Business Acquisition [Line Items]
Total purchase price consideration	$ 397,445
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash and equivalents	53,357
Securities, available-for-sale, at fair value	491,608
Securities, held-to-maturity, at amortized cost	86,143
Equity and other investments	36,085
Loans, gross	3,554,634
Allowance for credit losses	(23,480)
Loans, net of allowance	3,531,154
Premises and equipment, net	75,531
Accrued interest receivable	19,610
Company-owned life insurance	86,363
Goodwill and intangibles	68,760
Other assets	54,432
Total identifiable assets acquired	4,503,043
Deposits	3,696,936
Borrowings	283,398
Subordinated debentures and trust preferred securities	107,067
Unfunded reserve liability	3,502
Accrued interest and other liabilities	47,537
Total liabilities	4,138,440
Total identifiable net assets	364,603
Estimated Fair Value Adjustments
Securities, held-to-maturity, at amortized cost		(7,430)
Loans, gross		(153,306)
Allowance for credit losses		25,991
Loans, net of allowance		(127,315)
Premises and equipment, net		13,276
Goodwill and intangibles		(4,384)
Other assets		11,263
Total identifiable assets acquired		(114,590)
Deposits		(7,136)
Subordinated debentures and trust preferred securities		(16,466)
Unfunded reserve liability		(3,190)
Total liabilities		(26,792)
Total identifiable net assets		(87,798)
Goodwill	32,842	$ 32,842	$ 32,783
Summit Financial Group, Inc \| Previously Reported
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash and equivalents	53,357
Securities, available-for-sale, at fair value	491,608
Securities, held-to-maturity, at amortized cost	93,573
Equity and other investments	36,085
Loans, gross	3,707,940
Allowance for credit losses	(49,471)
Loans, net of allowance	3,658,469
Premises and equipment, net	62,255
Accrued interest receivable	19,610
Company-owned life insurance	86,363
Goodwill and intangibles	73,144
Other assets	43,169
Total identifiable assets acquired	4,617,633
Deposits	3,704,072
Borrowings	283,398
Subordinated debentures and trust preferred securities	123,533
Unfunded reserve liability	6,692
Accrued interest and other liabilities	47,537
Total liabilities	4,165,232
Total identifiable net assets	$ 452,401

Other Operating Expense - Schedule of Other Operating Cost and Expense, by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Other Income and Expenses [Abstract]
FDIC & other regulatory assessments	$ 914	$ 516
Historic tax credit amortization	435	632
IT related	417	550
Consultant fees	506	581
ATM, card, & network expense	1,132	551
Directors' fees	443	493
Audit expense	222	343
Legal expense	343	345
Virginia franchise tax	960	675
Marketing expense	387	329
Donation expense	11	0
Core deposit intangible amortization	4,298	0
Other	5,390	1,448
Total	$ 15,458	$ 6,463

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) arising during period, tax	$ (2,296)	$ 117
Reclassification adjustment for loss (gain) on securities, tax	0	0
Reclassification adjustment for loss (gain) on a fair value hedge, tax	9	9
Unrealized holding gain (loss) on cash flow hedge, tax	(111)	(707)
Reclassification adjustment for losses (gains) included in net income, tax	$ 99	$ (94)

Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Credit extension commitments

The Company’s financial statements do not reflect various financial instruments which arise in the normal course of business and which involve elements of credit risk, interest rate risk, and liquidity risk. These financial instruments include commitments to extend credit (e.g., revolving lines of credit) and commercial letters of credit.

Many of our lending relationships contain both funded and unfunded elements. The funded portion is reflected on our balance sheet. The unfunded portion of these commitments is not recorded on our balance sheet until a draw is made under the loan facility. Since many of our commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements.

A summary of the contractual amounts of the Company’s financial instruments outstanding at March 31, 2025, and December 31, 2024, is as follows (in thousands):


	March 31, 2025		December 31, 2024
Commitments to extend credit	$	1,021,447	$	969,317
Commercial letters of credit	30,303		13,333

Commitments to extend credit and commercial letters of credit both include exposure to some credit loss in the event of non-performance of the customer. The Company’s credit policies and procedures for credit commitments and financial guarantees are the same as those for extensions of credit that are recorded on the Consolidated Balance Sheets. Many of these instruments have fixed maturity dates, and many of them will expire without being drawn upon; accordingly, they do not generally present any significant liquidity risk to the Company.

Allowance for credit losses - off-balance-sheet credit exposures

The Company recorded a recapture of credit losses on unfunded commitments of $398.8 thousand and zero provision for credit losses on unfunded commitments for the three months ended March 31, 2025 and March 31, 2024, respectively. The ACL on off-balance-sheet credit totaled $3.6 million and $4.0 million as of March 31, 2025, and December 31, 2024, and is included in accrued interest and other liabilities on the accompanying Consolidated Balance Sheets.

Litigation

The Company is a party to litigation, claims, and proceedings arising in the normal course of business that are ordinary and routine to the nature of the Company’s business and operations. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from any currently pending or threatened litigation, claims, or proceedings will not be material to the Company’s financial position

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Cash and due from banks	$ 63,294	$ 35,554
Interest-earning deposits with banks	85,552	99,760
Cash and cash equivalents	148,846	135,314
Securities available-for-sale, at fair value	1,436,869	1,432,371
Restricted stock, at cost	35,112	33,559
Loans held-for-sale, at fair value	1,302	2,331
Loans	5,647,507	5,672,236
Allowance for credit losses	(67,753)	(68,040)
Net loans	5,579,754	5,604,196
Premises and equipment, net	132,289	132,270
Other real estate owned	2,625	2,783
Accrued interest receivable	34,481	34,454
Intangible assets	53,002	57,300
Goodwill	32,842	32,783
Company-owned life insurance	184,018	182,834
Other assets	196,950	161,990
Total Assets	7,838,090	7,812,185
Liabilities
Non-interest-bearing deposits	1,382,427	1,379,940
Interest-bearing deposits	5,159,444	5,135,299
Total deposits	6,541,871	6,515,239
Short-term borrowings	300,000	365,000
Subordinated debentures, net	96,212	94,872
Subordinated debentures owed to unconsolidated subsidiary trusts	17,077	17,013
Accrued interest and other liabilities	124,930	89,904
Total Liabilities	7,080,090	7,082,028
Commitments and contingent liabilities (see Note 10)
Shareholders’ Equity
Preferred stock and related surplus, $1.00 par value per share; 2,000,000 shares authorized; 1,500 shares issued and outstanding at March 31, 2025; 1,500 shares issued and outstanding at December 31, 2024	10,413	10,413
Common Stock $0.50 par value; 40,000,000 shares authorized, 15,554,097 shares issued and 14,982,807 shares outstanding at March 31, 2025; 40,000,000 shares authorized, 15,540,394 shares issued and 14,969,104 shares outstanding at December 31, 2024	7,777	7,770
Common stock, additional paid-in capital	402,682	401,172
Retained earnings	452,736	434,106
Accumulated other comprehensive income (loss)	(88,024)	(95,720)
Treasury stock 571,290 shares, at cost, at March 31, 2025, and 571,290 shares, at cost, at December 31, 2024	(27,584)	(27,584)
Total Shareholders’ Equity	758,000	730,157
Total Liabilities and Shareholders’ Equity	$ 7,838,090	$ 7,812,185

Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2025

Credit Loss [Abstract]

Schedule of Financing Receivable, Allowance for Credit Loss

The following tables present the activity in the ACL three months ended March 31, 2025, and the three months ended March 31, 2024, (in thousands).


	Commercial real estate		Owner-occupied commercial real estate		Acquisition, construction & development		Commercial & industrial		Single family residential (1-4 units)		Consumer non-real estate and other		Total
Three months ended
March 31, 2025
Balance, beginning of period	$	30,444	$	3,261	$	17,386	$	6,633	$	9,763	$	553	$	68,040
Provision for (recapture of) credit losses	4,296		699		(5,912)		1,728		(308)		397		900
Charge-offs	—		(687)		—		(93)		(33)		(611)		(1,424)
Recoveries	6		—		—		4		132		95		237
Balance, end of period	$	34,746	$	3,273	$	11,474	$	8,272	$	9,554	$	434	$	67,753

March 31, 2024
Balance, beginning of period	$	20,633	$	783	$	368	$	645	$	2,797	$	75	$	25,301
Provision for (recapture of) credit losses	(1,659)		(1)		306		179		474		31		(670)
Charge-offs	—		—		—		—		—		(30)		(30)
Recoveries	3		—		—		—		1		1		5
Balance, end of period	$	18,977	$	782	$	674	$	824	$	3,272	$	77	$	24,606


	March 31, 2025
	With Allowance				With No Related Allowance		Total
	Amortized Cost		Related Allowance		Amortized Cost		Amortized Cost		Related Allowance
March 31, 2025
Commercial real estate	$	6,220	$	5,034	$	18,873	$	25,093	$	5,034
Owner-occupied commercial real estate	—		—		2,067		2,067		—
Acquisition, construction & development	446		214		615		1,061		214
Commercial & industrial	983		983		807		1,790		983
Single family residential (1-4 units)	—		—		3,943		3,943		—
Consumer non-real estate and other	—		—		—		—		—
Total	$	7,649	$	6,231	$	26,305	$	33,954	$	6,231


	December 31, 2024
	With Allowance				With No Related Allowance		Total
	Amortized Cost		Related Allowance		Amortized Cost		Amortized Cost		Related Allowance
December 31, 2024
Commercial real estate	$	7,459	$	4,791	$	12,439	$	19,898	$	4,791
Owner-occupied commercial real estate	—		—		1,833		1,833		—
Acquisition, construction & development	535		303		369		904		303
Commercial & industrial	983		734		348		1,331		734
Single family residential (1-4 units)	898		26		3,408		4,306		26
Consumer non-real estate and other	—		—		—		—		—
Total	$	9,875	$	5,854	$	18,397	$	28,272	$	5,854

Schedule of Financing Receivable, Past Due


	March 31, 2025
	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due		Total Past Due		Current Loans		Total Loans		90 Days Past Due & Still Accruing		Non-accrual loans
Commercial real estate	$	18,875	$	18,621	$	31,024	$	68,520	$	2,741,053	$	2,809,573	$	12,585	$	24,269
Owner-occupied commercial real estate	6,335		277		5,448		12,060		577,829		589,889		183		5,856
Acquisition, construction & development	2,525		3,897		7,408		13,830		309,133		322,963		6,560		1,057
Commercial & industrial	3,559		629		4,431		8,619		604,600		613,219		1,826		2,755
Single family residential (1-4 units)	13,412		1,733		3,099		18,244		1,143,162		1,161,406		2,167		7,165
Consumer non-real estate and other	416		178		265		859		149,598		150,457		4		329
Total	$	45,122	$	25,335	$	51,675	$	122,132	$	5,525,375	$	5,647,507	$	23,325	$	41,431

	December 31, 2024
	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or More Past Due		Total Past Due		Current Loans		Total Loans		90 Days Past Due & Still Accruing		Non-accrual loans
Commercial real estate	$	10,974	$	—	$	8,440	$	19,414	$	2,618,388	$	2,637,802	$	—	$	19,183
Owner-occupied commercial real estate	1,160		1,636		5,240		8,036		606,326		614,362		307		5,760
Acquisition, construction & development	5,210		38		1,243		6,491		459,046		465,537		812		1,098
Commercial & industrial	1,654		1,594		1,469		4,717		608,368		613,085		350		1,757
Single family residential (1-4 units)	20,724		4,379		3,420		28,523		1,145,226		1,173,749		1,012		7,857
Consumer non-real estate and other	637		300		195		1,132		166,569		167,701		16		216
Total	$	40,359	$	7,947	$	20,007	$	68,313	$	5,603,923	$	5,672,236	$	2,497	$	35,871

Schedule of Financing Receivable Credit Quality Indicators

The following table presents the amortized cost basis of the loan portfolio, by year of origination, loan class, and credit quality, as of March 31, 2025, and December 31, 2024 (in thousands):


	March 31, 2025
	Term Loans
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Total
Commercial real estate
Pass	$	53,721	$	250,191	$	418,646	$	492,172	$	397,562	$	723,022	$	106,222	$	2,441,536
Special Mention	—		—		6,768		61,488		70,976		58,404		14,327		211,963
Substandard	—		—		16,333		18,433		20,812		60,808		37,838		154,224
Doubtful	—		—		—		—		—		1,850		—		1,850
Loss	—		—		—		—		—		—		—		—
Total	$	53,721	$	250,191	$	441,747	$	572,093	$	489,350	$	844,084	$	158,387	$	2,809,573

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Owner-occupied commercial real estate
Pass	$	6,784	$	59,155	$	69,389	$	91,995	$	124,891	$	197,017	$	27,794	$	577,025
Special Mention	—		—		—		—		240		1,249		—		1,489
Substandard	—		—		—		5,124		1,495		4,677		79		11,375
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total	$	6,784	$	59,155	$	69,389	$	97,119	$	126,626	$	202,943	$	27,873	$	589,889

Year to date gross charge-offs	$	—	$	—	$	—	$	227	$	6	$	394	$	60	$	687

Acquisition, construction & development
Pass	$	4,454	$	28,785	$	94,849	$	62,950	$	85,567	$	18,278	$	14,606	$	309,489
Special Mention	—		—		—		—		247		140		—		387
Substandard	—		—		85		4,247		3,488		5,058		—		12,878
Doubtful	—		—		—		—		—		—		209		209


Loss	—		—		—		—		—		—		—		—
Total	$	4,454	$	28,785	$	94,934	$	67,197	$	89,302	$	23,476	$	14,815	$	322,963

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial & industrial
Pass	$	46,948	$	104,224	$	47,683	$	42,757	$	22,680	$	40,291	$	227,248	$	531,831
Special Mention	124		342		—		33,973		10,472		1,489		20,462		66,862
Substandard	—		37		281		2,655		514		1,170		9,824		14,481
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		37		8		45
Total	$	47,072	$	104,603	$	47,964	$	79,385	$	33,666	$	42,987	$	257,542	$	613,219

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	93	$	93

Single family residential (1-4 units)
Pass	$	10,525	$	88,310	$	150,857	$	197,118	$	140,896	$	397,277	$	168,957	$	1,153,940
Special Mention	—		—		—		—		—		202		—		202
Substandard	—		—		1,542		904		577		3,725		417		7,165
Doubtful	—		—		—		—		—		98		—		98
Loss	—		—		—		—		—		1		—		1
Total	$	10,525	$	88,310	$	152,399	$	198,022	$	141,473	$	401,303	$	169,374	$	1,161,406

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	19	$	14	$	33

Consumer non-real estate and other
Pass	$	2,709	$	17,556	$	9,314	$	5,034	$	1,459	$	3,409	$	110,774	$	150,255
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		67		72		6		—		17		—		162
Doubtful	—		—		—		—		3		2		—		5
Loss	—		—		2		—		—		—		33		35
Total	$	2,709	$	17,623	$	9,388	$	5,040	$	1,462	$	3,428	$	110,807	$	150,457

Year to date gross charge-offs	$	485	$	54	$	54	$	16	$	—	$	—	$	2	$	611

Totals	$	125,265	$	548,667	$	815,821	$	1,018,856	$	881,879	$	1,518,221	$	738,798	$	5,647,507


	December 31, 2024
	Term Loans
	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total
Commercial real estate
Pass	$	248,023	$	378,322	$	482,195	$	337,136	$	153,187	$	588,490	$	96,914	$	2,284,267
Special Mention	—		7,148		30,018		52,885		7,154		57,255		28,211		182,671
Substandard	—		2,232		49,752		39,636		2,999		52,740		23,505		170,864
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total	$	248,023	$	387,702	$	561,965	$	429,657	$	163,340	$	698,485	$	148,630	$	2,637,802

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	382	$	—	$	382

Owner-occupied commercial real estate
Pass	$	61,433	$	72,571	$	93,941	$	126,700	$	36,197	$	170,809	$	32,452	$	594,103
Special Mention	—		—		—		243		2,729		1,275		—		4,247
Substandard	—		—		5,192		1,496		5,499		3,594		82		15,863
Doubtful	—		—		—		—		—		149		—		149
Loss	—		—		—		—		—		—		—		—
Total	$	61,433	$	72,571	$	99,133	$	128,439	$	44,425	$	175,827	$	32,534	$	614,362


Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Acquisition, construction & development
Pass	$	25,461	$	109,751	$	90,652	$	147,702	$	3,564	$	16,312	$	15,107	$	408,549
Special Mention	—		—		—		2,641		142		—		—		2,783
Substandard	—		13,115		4,467		3,326		21,372		63		11,564		53,907
Doubtful	—		—		—		—		—		—		298		298
Loss	—		—		—		—		—		—		—		—
Total	$	25,461	$	122,866	$	95,119	$	153,669	$	25,078	$	16,375	$	26,969	$	465,537

Year to date gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial & industrial
Pass	$	108,206	$	57,280	$	47,828	$	35,189	$	15,109	$	28,019	$	237,852	$	529,483
Special Mention	365		—		35,237		10,898		1,505		—		16,856		64,861
Substandard	37		285		4,482		618		523		1,029		11,765		18,739
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		2		—		2
Total	$	108,608	$	57,565	$	87,547	$	46,705	$	17,137	$	29,050	$	266,473	$	613,085

Year to date gross charge-offs	$	—	$	10	$	195	$	87	$	—	$	9	$	—	$	301

Single family residential (1-4 units)
Pass	$	88,857	$	152,438	$	201,410	$	142,719	$	77,783	$	332,025	$	170,077	$	1,165,309
Special Mention	—		—		—		—		—		214		174		388
Substandard	—		1,494		800		586		605		3,935		437		7,857
Doubtful	—		—		—		—		—		—		—		—
Loss	93		—		—		—		—		1		101		195
Total	$	88,950	$	153,932	$	202,210	$	143,305	$	78,388	$	336,175	$	170,789	$	1,173,749

Year to date gross charge-offs	$	—	$	39	$	28	$	—	$	—	$	123	$	—	$	190

Consumer non-real estate and other
Pass	$	21,095	$	10,796	$	6,122	$	1,836	$	1,096	$	2,797	$	123,148	$	166,890
Special Mention	15		—		—		—		—		—		—		15
Substandard	363		90		17		—		—		17		—		487
Doubtful	—		—		—		5		3		—		—		8
Loss	289		12		—		—		—		—		—		301
Total	$	21,762	$	10,898	$	6,139	$	1,841	$	1,099	$	2,814	$	123,148	$	167,701

Year to date gross charge-offs	$	468	$	71	$	17	$	1	$	—	$	20	$	357	$	934

Totals	$	554,237	$	805,534	$	1,052,113	$	903,616	$	329,467	$	1,258,726	$	768,543	$	5,672,236

Schedule of Purchased Credit Deteriorated Loans

The carrying amount of those loans, at acquisition, is as follows (in thousands):


	Amounts
Purchase price of loans at acquisition	$	380,795
Allowance for credit losses at acquisition	23,910
Non-credit discount/(premium) at acquisition	37,640

Par value of acquired loans at acquisition	$	442,345

Schedule of Real Estate Owned

Real estate owned activity was as follows for the three months ended March 31, 2025, and for the year ended, December 31, 2024 (in thousands):


	March 31, 2025		December 31, 2024
Beginning balance	$	2,783	$	—
Loans acquired/transferred to real estate owned	—		3,541
Capital expenditures	—		—
Direct write-downs	—		—
Sales of real estate owned	(158)		(758)

End of period balance	$	2,625	$	2,783

Leased Property - Schedule of Additional Information on Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Leases [Abstract]
Finance lease weighted average remaining lease term (years)	11 years 6 months		11 years 9 months
Finance lease weighted average discount rate	3.07%		3.06%
Operating lease weighted average remaining lease term (years)	6 years 8 months 26 days		6 years 10 months 2 days
Operating lease weighted average discount rate	4.66%		4.65%
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 778	$ 644
Operating cash flows from finance leases	27	28
Financing cash flows from finance leases	56	53
Right-of-use assets obtained in exchange for new finance lease liabilities	0	0
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 0

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Mar. 31, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Net income applicable to common shares (in thousands)	$ 26,976	$ 5,212
Weighted average number of shares (in shares)	14,976,483	7,433,481
Options effect of dilutive shares (in shares)	49,893	94,008
Weighted average dilutive shares (in shares)	15,026,376	7,527,489
Basic earnings per common share (in dollars per share)	$ 1.80	$ 0.70
Diluted earnings per common share (in dollars per share)	$ 1.80	$ 0.69

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Securities - Debt Securities, Available-for-Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	$ 1,546,361	$ 1,549,589
Gross Unrealized Gains	1,492	1,658
Gross Unrealized Losses	110,984	118,876
Estimated fair values	1,436,869	1,432,371
U.S. Treasuries and government agencies
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	165,241	165,619
Gross Unrealized Gains	0	0
Gross Unrealized Losses	13,448	16,492
Estimated fair values	151,793	149,127
Obligations of states and municipalities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	795,589	777,181
Gross Unrealized Gains	232	846
Gross Unrealized Losses	79,276	79,303
Estimated fair values	716,545	698,724
Residential mortgage backed - agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	57,304	57,244
Gross Unrealized Gains	301	121
Gross Unrealized Losses	3,712	4,179
Estimated fair values	53,893	53,186
Residential mortgage backed - non-agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	254,510	259,964
Gross Unrealized Gains	283	44
Gross Unrealized Losses	8,761	12,132
Estimated fair values	246,032	247,876
Commercial mortgage backed - agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	41,602	33,791
Gross Unrealized Gains	28	27
Gross Unrealized Losses	819	747
Estimated fair values	40,811	33,071
Commercial mortgage backed - non-agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	137,791	158,621
Gross Unrealized Gains	68	2
Gross Unrealized Losses	2,849	4,112
Estimated fair values	135,010	154,511
Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	61,396	64,308
Gross Unrealized Gains	210	316
Gross Unrealized Losses	820	568
Estimated fair values	60,786	64,056
Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	32,928	32,861
Gross Unrealized Gains	370	302
Gross Unrealized Losses	1,299	1,343
Estimated fair values	$ 31,999	$ 31,820

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Total	Preferred Stock and Surplus	Common Stock	Additional Paid-in Capital	Retained Earnings	Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Dec. 31, 2023	$ 314,750	$ 0	$ 4,000	$ 14,495	$ 427,333	$ (103,494)	$ (27,584)
Beginning Balance (in shares) at Dec. 31, 2023			7,428,710
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,212				5,212
Other comprehensive income (loss)	2,540					2,540
Common stock cash dividends, declared	(3,939)				(3,939)
Share-based compensation expense, net (in shares)			11,315
Share-based compensation expense, net	745		$ 6	813	(74)
Ending Balance at Mar. 31, 2024	319,308	0	$ 4,006	15,308	428,532	(100,954)	(27,584)
Ending Balance (in shares) at Mar. 31, 2024			7,440,025
Beginning Balance at Dec. 31, 2024	$ 730,157	10,413	$ 7,770	401,172	434,106	(95,720)	(27,584)
Beginning Balance (in shares) at Dec. 31, 2024	14,969,104		14,969,104
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 27,201				27,201
Other comprehensive income (loss)	7,696					7,696
Common stock cash dividends, declared	(8,237)				(8,237)
Preferred stock cash dividends, declared	(225)				(225)
Share-based compensation expense, net (in shares)			13,703
Share-based compensation expense, net	1,408		$ 7	1,510	(109)
Ending Balance at Mar. 31, 2025	$ 758,000	$ 10,413	$ 7,777	$ 402,682	$ 452,736	$ (88,024)	$ (27,584)
Ending Balance (in shares) at Mar. 31, 2025	14,982,807		14,982,807

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Securities - Schedule of Realized Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Proceeds from sales	$ 0	$ 1,281
Proceeds from calls and maturities	10,867	0
Proceeds from principal payments	39,506	35,010
Gross realized gains	1	0
Gross realized losses	$ 0	$ 0

Share-Based Compensation - Schedule of Stock Appreciation Rights and Option Activity (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
SARs
Outstanding balance at the beginning (in shares)	223,873
Granted (or acquired) (in shares)	0
Exercised (in shares)	260
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding balance at the end (in shares)	223,613	223,873
Exercisable (in shares)	188,244
Aggregate Intrinsic Value
Outstanding balance at the beginning	$ 2,057
Granted (or acquired)	0
Exercised	9
Forfeited	0
Expired	0
Outstanding balance at the end	2,048	$ 2,057
Exercisable SARs	$ 1,798
Weighted Average Remaining Contractual Terms
Outstanding	5 years 2 months 12 days	5 years 5 months 8 days
Exercisable	4 years 10 months 9 days
Weighted Average Exercise Price
Outstanding (in dollars per share)	$ 46.90	$ 46.87
Granted (in dollars per share)	0
Exercised (in dollars per share)	23.82
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Exercisable (in dollars per share)	$ 46.56

Derivatives (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company’s derivative financial instruments, which includes accrued interest, as well as their classification on the Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024 (in thousands):


	March 31, 2025
	Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedges:
Interest rate swaps related to cash flow hedges	Other assets	$	250,000	$	514
Interest rate swaps related to cash flow hedges	Other liabilities	$	50,000	$	219

Derivatives not designated as hedges:
Interest rate swaps related to customer loans	Other assets	$	99,699	$	1,591
Interest rate swaps related to customer loans	Other liabilities	99,699		1,591


	December 31, 2024
	Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedges:
Interest rate swaps related to cash flow hedges	Other assets	$	250,000	$	1,368

Interest rate swaps related to cash flow hedges	Other liabilities	50,000		165

Derivatives not designated as hedges:
Interest rate swaps related to customer loans	Other assets	$	99,899	$	1,823
Interest rate swaps related to customer loans	Other liabilities	99,899		1,823

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The table below presents the effect of cash flow hedge accounting on AOCI for the three months ended March 31, 2025, and March 31, 2024 (in thousands):


Derivatives in Cash Flow Hedging Relationships	March 31, 2025						Location of Gain or (Loss) Reclassified from AOCI into Income	March 31, 2025
	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Amount of Gain or (Loss) Recognized in OCI Excluded Component			Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest Rate Products	$	—	$	—	$	—	Interest Income	$	—	$	—	$	—
Interest Rate Products	480		480		—		Interest Expense	428		428		—
Total	$	480	$	480	$	—		$	428	$	428	$	—


Derivatives in Cash Flow Hedging Relationships	March 31, 2024						Location of Gain or (Loss) Reclassified from AOCI into Income	March 31, 2024
	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Amount of Gain or (Loss) Recognized in OCI Excluded Component			Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest Rate Products	$	(17)	$	(17)	$	—	Interest Income	$	(483)	$	(483)	$	—
Interest Rate Products	3,385		3,385		—		Interest Expense	36		36		—
Total	$	3,368	$	3,368	$	—		$	(447)	$	(447)	$	—

Schedule of Derivative Instruments

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the three months ended March 31, 2025, and March 31, 2024 (in thousands).


	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
	Three months ended
	March 31, 2025				March 31, 2024
	Interest Income		Interest Expense		Interest Income		Interest Expense
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded.	$	40	$	428	$	(443)	$	36
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items (1)	40		—		40		—
Derivatives designated as hedging instruments	—		—		—		—
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of gain or (loss) reclassified from AOCI into income	—		428		(483)		36
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring	—		—		—		—
Amount of gain or (loss) reclassified from AOCI into income - included component	—		428		(483)		36
Amount of gain or (loss) reclassified from AOCI into income - excluded component	—		—		—		—

(1) The Company voluntarily discontinued a fair value hedging relationship and these amounts include the gain or (loss) and the hedging adjustment on a voluntary discontinued hedging relationship. The Company has allocated the basis adjustment to the remaining individual assets in the closed portfolio and will amortize the basis adjustment over a period consistent with amortization of other discounts or premiums on the assets.

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Other Operating Expense - Narrative (Details) - USD ($)	3 Months Ended
Other Operating Expense - Narrative (Details) - USD ($)	Mar. 31, 2025	Mar. 31, 2024
Other Expense
Business Acquisition [Line Items]
Merger related expenses	$ 0	$ 663,000.0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Derivatives

3 Months Ended

Mar. 31, 2025

Derivatives

The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements.

Cash flow hedges of interest rate risk

The Company’s objective in using interest rate derivatives is to add stability to net interest income and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps, caps, and floors as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of March 31, 2025, such derivatives were

used to hedge the variable cash flows associated with variable-rate liabilities. As of March 31, 2024, such derivatives were used to hedge the variable cash flows associated with variable-rate debt and variable-rate securities.

For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in AOCI and subsequently reclassified into interest expense or interest income in the same period(s) during which the hedged transaction affects earnings. During the next twelve months, the Company estimates that an additional $360.0 thousand will be reclassified as a reduction to interest expense.

Derivatives not designated as hedges

The Company enters into interest rate swaps with its loan customers to facilitate their financing requests. Upon entering into swaps with our loan customers, the Company will enter into corresponding offsetting derivatives with third parties. These derivatives represent economic hedges and do not qualify as hedges for accounting. These back-to-back interest rate swaps are reported at fair value in other assets and accrued interest and other liabilities in the Company’s Consolidated Balance Sheets. Changes in the fair value of interest rate swaps are recorded in other non-interest expense and sum to zero because of offsetting terms of swaps with borrowers and swaps with dealer counterparties.


	March 31, 2025
	Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedges:
Interest rate swaps related to cash flow hedges	Other assets	$	250,000	$	514
Interest rate swaps related to cash flow hedges	Other liabilities	$	50,000	$	219

Derivatives not designated as hedges:
Interest rate swaps related to customer loans	Other assets	$	99,699	$	1,591
Interest rate swaps related to customer loans	Other liabilities	99,699		1,591


	December 31, 2024
	Balance Sheet Location	Notional Amount		Fair Value
Derivatives designated as hedges:
Interest rate swaps related to cash flow hedges	Other assets	$	250,000	$	1,368

Interest rate swaps related to cash flow hedges	Other liabilities	50,000		165

Derivatives not designated as hedges:
Interest rate swaps related to customer loans	Other assets	$	99,899	$	1,823
Interest rate swaps related to customer loans	Other liabilities	99,899		1,823

The table below presents the effect of cash flow hedge accounting on AOCI for the three months ended March 31, 2025, and March 31, 2024 (in thousands):


Derivatives in Cash Flow Hedging Relationships	March 31, 2025						Location of Gain or (Loss) Reclassified from AOCI into Income	March 31, 2025
	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Amount of Gain or (Loss) Recognized in OCI Excluded Component			Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest Rate Products	$	—	$	—	$	—	Interest Income	$	—	$	—	$	—
Interest Rate Products	480		480		—		Interest Expense	428		428		—
Total	$	480	$	480	$	—		$	428	$	428	$	—


Derivatives in Cash Flow Hedging Relationships	March 31, 2024						Location of Gain or (Loss) Reclassified from AOCI into Income	March 31, 2024
	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Amount of Gain or (Loss) Recognized in OCI Excluded Component			Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest Rate Products	$	(17)	$	(17)	$	—	Interest Income	$	(483)	$	(483)	$	—
Interest Rate Products	3,385		3,385		—		Interest Expense	36		36		—
Total	$	3,368	$	3,368	$	—		$	(447)	$	(447)	$	—


	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
	Three months ended
	March 31, 2025				March 31, 2024
	Interest Income		Interest Expense		Interest Income		Interest Expense
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded.	$	40	$	428	$	(443)	$	36
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items (1)	40		—		40		—
Derivatives designated as hedging instruments	—		—		—		—
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of gain or (loss) reclassified from AOCI into income	—		428		(483)		36
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring	—		—		—		—
Amount of gain or (loss) reclassified from AOCI into income - included component	—		428		(483)		36
Amount of gain or (loss) reclassified from AOCI into income - excluded component	—		—		—		—

Credit-risk-related Contingent Features

As of March 31, 2025, the fair value of derivatives in a liability position, which includes accrued interest but excludes any adjustment for non-performance risk related to these agreements, was $0.2 million. As of March 31, 2024, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for non-performance risk related to these agreements, was $0.5 million. As of March 31, 2025 and as of March 31, 2024 , the Company has posted the full amount of collateral related to these agreements.

Regulatory Capital Matters

3 Months Ended

Mar. 31, 2025

Regulatory Capital Requirements under Banking Regulations [Abstract]

Regulatory Capital Matters

Banks and financial holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, “prompt corrective action” regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Under the Basel III Framework, an entity must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. The net unrealized gain or loss on AFS securities is not included in computing regulatory capital. Management believes as of March 31, 2025, the Company and the Bank meet all capital adequacy requirements to which they are subject.

“Prompt corrective action” regulations provide five classifications: “well capitalized”, “adequately capitalized”, “undercapitalized”, “significantly undercapitalized”, and “critically undercapitalized”, although these terms are not used to represent overall financial condition. If “adequately capitalized”, regulatory approval is required to accept brokered deposits. If “undercapitalized”, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. As of March 31, 2025, and December 31, 2024, the most recent notification from the FDIC categorized the Bank as “well capitalized” under the regulatory framework for “prompt corrective action.”

The following table presents the actual and required capital amounts and ratios for the Company and the Bank at March 31, 2025, and December 31, 2024 (in thousands except for ratios):


	Actual				Minimum Required Capital - Basel III			Minimum Required to be Well Capitalized
	Amount		Ratio		Amount		Ratio	Amount		Ratio
As of March 31, 2025
Total Capital to risk weighted assets
Consolidated	$	954,979	14.79	%	$	677,758	≥ 10.5%	$	645,483	N/A
Burke & Herbert Bank & Trust	942,524		14.62		676,805		≥ 10.5	644,576		≥ 10.0
Tier 1 (Core) Capital to risk weighted assets
Consolidated	787,414		12.20		548,661		≥ 8.5	516,387		N/A
Burke & Herbert Bank & Trust	871,171		13.52		547,890		≥ 8.5	515,661		≥ 8.0
Common Tier 1 (CET 1) to risk-weighted assets
Consolidated	759,924		11.77		451,838		≥ 7.0	419,564		N/A
Burke & Herbert Bank & Trust	871,171		13.52		451,203		≥ 7.0	418,974		≥ 6.5
Tier 1 (Core) Capital to average assets (leverage ratio)
Consolidated	787,414		10.12		311,095		≥ 4.0	388,869		N/A
Burke & Herbert Bank & Trust	871,171		11.22		310,691		≥ 4.0	388,364		≥ 5.0

As of December 31, 2024
Total Capital to risk weighted assets
Consolidated	$	930,753	14.57	%	$	670,590	≥ 10.5%	$	638,658	N/A
Burke & Herbert Bank & Trust	919,843		14.41		670,028		≥ 10.5	638,122		≥ 10.0
Tier 1 (Core) Capital to risk weighted assets
Consolidated	763,842		11.96		542,859		≥ 8.5	510,926		N/A
Burke & Herbert Bank & Trust	847,804		13.29		542,404		≥ 8.5	510,498		≥ 8.0
Common Tier 1 (CET 1) to risk-weighted assets
Consolidated	736,416		11.53		447,060		≥ 7.0	415,127		N/A
Burke & Herbert Bank & Trust	847,804		13.29		446,686		≥ 7.0	414,779		≥ 6.5
Tier 1 (Core) Capital to average assets (leverage ratio)
Consolidated	736,416		9.80		311,904		≥ 4.0	389,880		N/A
Burke & Herbert Bank & Trust	847,804		10.88		311,616		≥ 4.0	389,520		≥ 5.0

The Company’s principal source of funds for dividend payments is dividends received from the Bank. Banking regulations limit the amount of dividends that may be paid without prior approval of regulatory agencies. As of March 31, 2025, approximately $265.7 million of retained earnings was available for dividend declaration consistent with the Company’s capital plan.

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Interest income
Taxable loans, including fees	$ 97,031	$ 28,045
Tax-exempt loans, including fees	46	0
Taxable securities	9,487	8,943
Tax-exempt securities	3,267	1,361
Other interest income	955	396
Total interest income	110,786	38,745
Interest expense
Deposits	31,851	12,931
Short-term borrowings	3,192	3,655
Subordinated debt	2,729	0
Other interest expense	27	28
Total interest expense	37,799	16,614
Net interest income	72,987	22,131
Credit loss expense (recapture) - loans and available-for-sale securities	900	(670)
Credit loss (recapture) - off-balance sheet credit exposures	(399)	0
Total provision (recapture) for credit losses	501	(670)
Net interest income after credit loss expense	72,486	22,801
Non-interest income
Net gains on securities	1	0
Income from company-owned life insurance	1,193	547
Bank debit and other card revenue	2,884	1,132
Other non-interest income	1,413	501
Total non-interest income	10,023	4,254
Non-interest expense
Salaries and wages	20,941	9,518
Pensions and other employee benefits	5,136	2,365
Occupancy	4,045	1,538
Equipment rentals, depreciation and maintenance	4,084	1,281
Other operating	15,458	6,463
Total non-interest expense	49,664	21,165
Income before income taxes	32,845	5,890
Income tax expense	5,644	678
Net income	27,201	5,212
Preferred stock dividends	225	0
Net income applicable to common shares	$ 26,976	$ 5,212
Earnings per common share:
Basic (in dollars per share)	$ 1.80	$ 0.70
Diluted (in dollars per share)	$ 1.80	$ 0.69
Fiduciary and wealth management
Non-interest income
Revenue from contract with customer	$ 2,443	$ 1,419
Service charges and fees
Non-interest income
Revenue from contract with customer	$ 2,089	$ 655

Nature of Business Activities and Significant Accounting Policies (Details)	May 03, 2024 shares	Mar. 31, 2025 branch
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of branches, more than \| branch		77
Summit Financial Group, Inc
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock portion, number of Burke & Herbert stock for each share of Summit common stock converted (in shares)	0.5043
Consideration payable (in shares)	7,405,772
Preferred stock, fixed rate (as a percent)	6.00%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
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-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-6

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
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Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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-Subparagraph (b)(1)
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

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-Subparagraph (b)(2)
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Reference 92: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (c)
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Reference 93: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 94: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 95: http://www.xbrl.org/2003/role/disclosureRef
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Reference 97: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 98: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480424/946-10-50-3

Reference 99: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 100: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Leased Property - Schedule of Lessee, Operating Lease and Financing Lease, Payment to be Received, Fiscal Year Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Operating Leases
Remaining nine months ending, December 31, 2025	$ 2,352
2026	2,659
2027	2,237
2028	1,897
2029	1,748
Thereafter	4,772
Total undiscounted lease payments	15,665
Less: discount	(2,705)
Net lease liabilities	12,960	$ 13,586
Finance Leases
Remaining nine months ending, December 31, 2025	251
2026	340
2027	347
2028	354
2029	361
Thereafter	2,628
Total undiscounted lease payments	4,281
Less: discount	(718)
Net lease liabilities	$ 3,563	$ 3,620

Allowance for Credit Losses - Aging and Non-Accrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 5,647,507	$ 5,672,236
90 Days Past Due & Still Accruing	23,325	2,497
Non-accrual loans	41,431	35,871
Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	122,132	68,313
30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	45,122	40,359
60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	25,335	7,947
90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	51,675	20,007
Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	5,525,375	5,603,923
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,809,573	2,637,802
90 Days Past Due & Still Accruing	12,585	0
Non-accrual loans	24,269	19,183
Commercial real estate \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	68,520	19,414
Commercial real estate \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	18,875	10,974
Commercial real estate \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	18,621	0
Commercial real estate \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	31,024	8,440
Commercial real estate \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,741,053	2,618,388
Owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	589,889	614,362
90 Days Past Due & Still Accruing	183	307
Non-accrual loans	5,856	5,760
Owner-occupied commercial real estate \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	12,060	8,036
Owner-occupied commercial real estate \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	6,335	1,160
Owner-occupied commercial real estate \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	277	1,636
Owner-occupied commercial real estate \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	5,448	5,240
Owner-occupied commercial real estate \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	577,829	606,326
Acquisition, construction & development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	322,963	465,537
90 Days Past Due & Still Accruing	6,560	812
Non-accrual loans	1,057	1,098
Acquisition, construction & development \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	13,830	6,491
Acquisition, construction & development \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	2,525	5,210
Acquisition, construction & development \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,897	38
Acquisition, construction & development \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	7,408	1,243
Acquisition, construction & development \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	309,133	459,046
Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	613,219	613,085
90 Days Past Due & Still Accruing	1,826	350
Non-accrual loans	2,755	1,757
Commercial & industrial \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	8,619	4,717
Commercial & industrial \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,559	1,654
Commercial & industrial \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	629	1,594
Commercial & industrial \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,431	1,469
Commercial & industrial \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	604,600	608,368
Single family residential (1-4 units)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,161,406	1,173,749
90 Days Past Due & Still Accruing	2,167	1,012
Non-accrual loans	7,165	7,857
Single family residential (1-4 units) \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	18,244	28,523
Single family residential (1-4 units) \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	13,412	20,724
Single family residential (1-4 units) \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,733	4,379
Single family residential (1-4 units) \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	3,099	3,420
Single family residential (1-4 units) \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1,143,162	1,145,226
Consumer non-real estate and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	150,457	167,701
90 Days Past Due & Still Accruing	4	16
Non-accrual loans	329	216
Consumer non-real estate and other \| Total Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	859	1,132
Consumer non-real estate and other \| 30 - 59 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	416	637
Consumer non-real estate and other \| 60 - 89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	178	300
Consumer non-real estate and other \| 90 Days or More Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	265	195
Consumer non-real estate and other \| Current Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 149,598	$ 166,569

Allowance for Credit Losses - Schedule of Real Estate Owned (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Real Estate Owned [Abstract]
Beginning balance	$ 2,783	$ 0
Loans acquired/transferred to real estate owned	0	3,541
Capital expenditures	0	0
Direct write-downs	0	0
Sales of real estate owned	(158)	(758)
End of period balance	$ 2,625	$ 2,783

Allowance for Credit Losses - Loans by Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	$ 125,265		$ 554,237
Year Two	548,667		805,534
Year Three	815,821		1,052,113
Year Four	1,018,856		903,616
Year Five	881,879		329,467
Prior	1,518,221		1,258,726
Revolving Loans	738,798		768,543
Total	5,647,507		5,672,236
Year to date gross charge-offs
Total	1,424	$ 30
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	53,721		248,023
Year Two	250,191		387,702
Year Three	441,747		561,965
Year Four	572,093		429,657
Year Five	489,350		163,340
Prior	844,084		698,485
Revolving Loans	158,387		148,630
Total	2,809,573		2,637,802
Year to date gross charge-offs
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		382
Revolving Loans	0		0
Total	0	0	382
Commercial real estate \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	53,721		248,023
Year Two	250,191		378,322
Year Three	418,646		482,195
Year Four	492,172		337,136
Year Five	397,562		153,187
Prior	723,022		588,490
Revolving Loans	106,222		96,914
Total	2,441,536		2,284,267
Commercial real estate \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		7,148
Year Three	6,768		30,018
Year Four	61,488		52,885
Year Five	70,976		7,154
Prior	58,404		57,255
Revolving Loans	14,327		28,211
Total	211,963		182,671
Commercial real estate \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		2,232
Year Three	16,333		49,752
Year Four	18,433		39,636
Year Five	20,812		2,999
Prior	60,808		52,740
Revolving Loans	37,838		23,505
Total	154,224		170,864
Commercial real estate \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	1,850		0
Revolving Loans	0		0
Total	1,850		0
Commercial real estate \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0		0
Owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	6,784		61,433
Year Two	59,155		72,571
Year Three	69,389		99,133
Year Four	97,119		128,439
Year Five	126,626		44,425
Prior	202,943		175,827
Revolving Loans	27,873		32,534
Total	589,889		614,362
Year to date gross charge-offs
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	227		0
Year Five	6		0
Prior	394		0
Revolving Loans	60		0
Total	687	0	0
Owner-occupied commercial real estate \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	6,784		61,433
Year Two	59,155		72,571
Year Three	69,389		93,941
Year Four	91,995		126,700
Year Five	124,891		36,197
Prior	197,017		170,809
Revolving Loans	27,794		32,452
Total	577,025		594,103
Owner-occupied commercial real estate \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		243
Year Five	240		2,729
Prior	1,249		1,275
Revolving Loans	0		0
Total	1,489		4,247
Owner-occupied commercial real estate \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		5,192
Year Four	5,124		1,496
Year Five	1,495		5,499
Prior	4,677		3,594
Revolving Loans	79		82
Total	11,375		15,863
Owner-occupied commercial real estate \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		149
Revolving Loans	0		0
Total	0		149
Owner-occupied commercial real estate \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0		0
Acquisition, construction & development
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	4,454		25,461
Year Two	28,785		122,866
Year Three	94,934		95,119
Year Four	67,197		153,669
Year Five	89,302		25,078
Prior	23,476		16,375
Revolving Loans	14,815		26,969
Total	322,963		465,537
Year to date gross charge-offs
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0	0	0
Acquisition, construction & development \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	4,454		25,461
Year Two	28,785		109,751
Year Three	94,849		90,652
Year Four	62,950		147,702
Year Five	85,567		3,564
Prior	18,278		16,312
Revolving Loans	14,606		15,107
Total	309,489		408,549
Acquisition, construction & development \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		2,641
Year Five	247		142
Prior	140		0
Revolving Loans	0		0
Total	387		2,783
Acquisition, construction & development \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		13,115
Year Three	85		4,467
Year Four	4,247		3,326
Year Five	3,488		21,372
Prior	5,058		63
Revolving Loans	0		11,564
Total	12,878		53,907
Acquisition, construction & development \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	209		298
Total	209		298
Acquisition, construction & development \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0		0
Commercial & industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	47,072		108,608
Year Two	104,603		57,565
Year Three	47,964		87,547
Year Four	79,385		46,705
Year Five	33,666		17,137
Prior	42,987		29,050
Revolving Loans	257,542		266,473
Total	613,219		613,085
Year to date gross charge-offs
Year One	0		0
Year Two	0		10
Year Three	0		195
Year Four	0		87
Year Five	0		0
Prior	0		9
Revolving Loans	93		0
Total	93	0	301
Commercial & industrial \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	46,948		108,206
Year Two	104,224		57,280
Year Three	47,683		47,828
Year Four	42,757		35,189
Year Five	22,680		15,109
Prior	40,291		28,019
Revolving Loans	227,248		237,852
Total	531,831		529,483
Commercial & industrial \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	124		365
Year Two	342		0
Year Three	0		35,237
Year Four	33,973		10,898
Year Five	10,472		1,505
Prior	1,489		0
Revolving Loans	20,462		16,856
Total	66,862		64,861
Commercial & industrial \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		37
Year Two	37		285
Year Three	281		4,482
Year Four	2,655		618
Year Five	514		523
Prior	1,170		1,029
Revolving Loans	9,824		11,765
Total	14,481		18,739
Commercial & industrial \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0		0
Commercial & industrial \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	37		2
Revolving Loans	8		0
Total	45		2
Single family residential (1-4 units)
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	10,525		88,950
Year Two	88,310		153,932
Year Three	152,399		202,210
Year Four	198,022		143,305
Year Five	141,473		78,388
Prior	401,303		336,175
Revolving Loans	169,374		170,789
Total	1,161,406		1,173,749
Year to date gross charge-offs
Year One	0		0
Year Two	0		39
Year Three	0		28
Year Four	0		0
Year Five	0		0
Prior	19		123
Revolving Loans	14		0
Total	33	0	190
Single family residential (1-4 units) \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	10,525		88,857
Year Two	88,310		152,438
Year Three	150,857		201,410
Year Four	197,118		142,719
Year Five	140,896		77,783
Prior	397,277		332,025
Revolving Loans	168,957		170,077
Total	1,153,940		1,165,309
Single family residential (1-4 units) \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	202		214
Revolving Loans	0		174
Total	202		388
Single family residential (1-4 units) \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		1,494
Year Three	1,542		800
Year Four	904		586
Year Five	577		605
Prior	3,725		3,935
Revolving Loans	417		437
Total	7,165		7,857
Single family residential (1-4 units) \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	98		0
Revolving Loans	0		0
Total	98		0
Single family residential (1-4 units) \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		93
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	1		1
Revolving Loans	0		101
Total	1		195
Consumer non-real estate and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	2,709		21,762
Year Two	17,623		10,898
Year Three	9,388		6,139
Year Four	5,040		1,841
Year Five	1,462		1,099
Prior	3,428		2,814
Revolving Loans	110,807		123,148
Total	150,457		167,701
Year to date gross charge-offs
Year One	485		468
Year Two	54		71
Year Three	54		17
Year Four	16		1
Year Five	0		0
Prior	0		20
Revolving Loans	2		357
Total	611	$ 30	934
Consumer non-real estate and other \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	2,709		21,095
Year Two	17,556		10,796
Year Three	9,314		6,122
Year Four	5,034		1,836
Year Five	1,459		1,096
Prior	3,409		2,797
Revolving Loans	110,774		123,148
Total	150,255		166,890
Consumer non-real estate and other \| Special Mention
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		15
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Total	0		15
Consumer non-real estate and other \| Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		363
Year Two	67		90
Year Three	72		17
Year Four	6		0
Year Five	0		0
Prior	17		17
Revolving Loans	0		0
Total	162		487
Consumer non-real estate and other \| Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		5
Year Five	3		3
Prior	2		0
Revolving Loans	0		0
Total	5		8
Consumer non-real estate and other \| Loss
Financing Receivable, Allowance for Credit Loss [Line Items]
Year One	0		289
Year Two	0		12
Year Three	2		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	33		0
Total	$ 35		$ 301

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total core deposit intangible	$ 53,002
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Beginning of period			$ 57,300	$ 0
Core deposit intangible acquired	0	$ 0
Amortization	(4,298)	0
Impairment	0	0
Total core deposit intangible	$ 53,002	$ 0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Leased Property - Narrative (Details)	3 Months Ended
Leased Property - Narrative (Details)	Mar. 31, 2025
Minimum
Lessor, Lease, Description [Line Items]
Operating lease term	1 year
Lease term of contract	1 year
Maximum
Lessor, Lease, Description [Line Items]
Operating lease term	10 years
Lease term of contract	13 years

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Cash Flows from Operating Activities
Net income	$ 27,201	$ 5,212
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets	1,671	820
Amortization of other intangible assets	4,328	0
Amortization on assumed liabilities	2,221	0
Accretion income related to acquired loans	(11,447)	0
Amortization of housing tax credits	1,859	1,372
Realized (gain) on sales of available-for-sale securities	(1)	0
Realized loss on sales of OREO property	2	0
Provision for (recapture of) credit losses	501	(670)
Income from company-owned life insurance	(1,193)	(547)
Deferred tax expense (benefit)	(1,495)	741
Loss on disposal of fixed assets	88	235
Accretion of securities	(1,003)	(442)
Amortization of securities	2,400	2,228
Share-based compensation expense	1,305	632
Repayment of operating lease liabilities	(626)	(598)
(Gain) on loans held-for-sale	(78)	(67)
Proceeds from sale of loans held-for-sale	6,647	5,457
Change in fair value of loans held-for-sale	0	26
Originations of loans held-for-sale	(5,540)	(6,340)
(Increase) in accrued interest receivable	(27)	(433)
(Increase) decrease in other assets	(24,845)	1,006
Increase (decrease) in accrued interest payable and other liabilities	35,679	(1,543)
Net cash flows provided by operating activities	37,647	7,089
Cash Flows from Investing Activities
Proceeds from maturities, prepayments, and calls of securities available-for-sale, net	50,373	35,010
Proceeds from sale of securities available-for-sale, net	0	1,281
Purchases of securities available-for-sale, net	(48,542)	(65,718)
Cash (paid) from merger, net	0	0
Sales of restricted stock	29,068	2,304
Purchases of restricted stock	(30,621)	(12,696)
Purchases of property and equipment, net of disposals	(1,778)	(1,503)
Proceeds from company-owned life insurance	0	1,130
Proceeds from sale of OREO property	161	0
(Increase) decrease in loans made to customers, net	23,944	(30,425)
Net cash flows provided by (used in) investing activities	22,605	(70,617)
Cash Flows from Financing Activities
Net increase (decrease) in non-interest-bearing accounts	2,487	(7,553)
Net increase (decrease) in interest-bearing accounts	24,145	(4,215)
Net increase (decrease) in other short-term borrowings	(65,000)	88,000
Repayment of finance lease liabilities	(56)	(53)
Cash dividends paid	(8,462)	(3,939)
Proceeds from employee stock purchase program	63	48
Issuance of common stock	103	819
Sale of treasury stock	0	0
Net cash flows provided by (used in) financing activities	(46,720)	73,107
Increase in cash and cash equivalents	13,532	9,579
Cash and cash equivalents
Beginning of period	135,314	44,498
End of period	148,846	54,077
Cash payments for:
Interest paid to depositors	32,672	14,978
Interest paid on short-term borrowings	3,732	785
Interest paid on subordinated debt and trust preferred securities	1,326	0
Interest paid on finance leases	27	28
Income taxes	3,595	625
Change in unrealized gains on available-for-sale securities	7,726	(559)
Lease liability arising from obtaining right-of-use assets	0	0
Common stock issued for merger, net	0	0
Preferred stock issued for merger, net	$ 0	$ 0

Earnings Per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing net income applicable to common shares by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential impact of contingently issuable shares. The Company uses the treasury stock method as described by ASC 260 - Earnings Per Share for each dilutive instrument when computing diluted earnings per share.


	Three Months Ended March 31,
	2025		2024
Net income applicable to common shares (in thousands)	$	26,976	$	5,212

Weighted average number of shares	14,976,483		7,433,481
Options effect of dilutive shares	49,893		94,008
Weighted average dilutive shares	15,026,376		7,527,489

Basic earnings per common share	$	1.80	$	0.70
Diluted earnings per common share	1.80		0.69

Stock awards equivalent to 41,553 and zero shares of common stock were not considered in computing diluted earnings per common share for the three months ended March 31, 2025, and March 31, 2024, respectively, because they are antidilutive.

Fair Value Measurements - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned	$ 2,625	$ 2,783	$ 0
Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned	2,625	2,783
(Level 3) \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other real estate owned	2,625	2,783
(Level 3) \| Nonrecurring \| Appraisal of collateral
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	1,418	4,021
Other real estate owned	$ 2,625	$ 2,783
(Level 3) \| Nonrecurring \| Minimum \| Valuation Technique, Appraisal Of Collateral For Liquidity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent loans, measurement input	0.050	0.050
Other real estate owned, measurement input	0.050	0.050
(Level 3) \| Nonrecurring \| Minimum \| Valuation Technique, Appraisal Of Collateral For Selling Costs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent loans, measurement input	0.060	0.060
Other real estate owned, measurement input	0.060	0.060
(Level 3) \| Nonrecurring \| Maximum \| Valuation Technique, Appraisal Of Collateral For Liquidity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent loans, measurement input	0.200	0.200
Other real estate owned, measurement input	0.200	0.200
(Level 3) \| Nonrecurring \| Maximum \| Valuation Technique, Appraisal Of Collateral For Selling Costs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral dependent loans, measurement input	0.080	0.080
Other real estate owned, measurement input	0.080	0.080

Borrowed Funds

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Borrowed Funds

Short-term borrowings

The Company had borrowings of $300.0 million and $365.0 million at March 31, 2025, and December 31, 2024, respectively. At March 31, 2025, the interest rate on this debt was 4.42%. At December 31, 2024, the interest rate on this debt ranged from 4.43% to 4.57%. The average balance outstanding during the three months ending March 31, 2025, and the year ending December 31, 2024, was $332.6 million and $422.5 million, respectively. The Company has a finance lease liability that is not included in these balances - see Note 7 - Leased Property for a discussion of this liability that is included in the accrued interest and other liabilities line in the Consolidated Balance Sheets.

The Company has available secured lines of credit with the Federal Reserve Bank of Richmond, such as the Borrower-In-Custody program, the FHLB of Atlanta, and unsecured federal funds lines of credit from correspondent banking relationships. Through these sources, the Company has unused capacity of $4.1 billion in remaining borrowing capacity as

of March 31, 2025. The advances on credit lines are secured by both securities and loans. The lendable collateral value of securities and loans pledged against available lines of credit as of March 31, 2025, and December 31, 2024, was $3.1 billion and $3.1 billion, respectively. As of March 31, 2025, all of the Company’s borrowings will mature within one calendar year.

The contractual maturities of these borrowings, which all occur within one year of the reporting date, are as follows as of March 31, 2025, (in thousands):


Due in 2025	$	300,000
Total	$	300,000

Long-term borrowings

Subordinated Debentures

As part of the Merger, Burke & Herbert assumed $75.0 million of subordinated debentures, that were fair valued at $61.5 million with a $13.5 million discount being amortized into interest expense over the stated maturity. As of March 31, 2025, the net balance was $66.3 million. The subordinated debt qualifies as Tier 2 capital under Federal Reserve Board guidelines, until the debt is within 5 years of its maturity; thereafter, the amount qualifying as Tier 2 capital is reduced 20% each year until maturity. The subordinated debentures were issued in the fourth quarter of 2021. This subordinated debt bears interest at a fixed rate of 3.25% per year, from acquisition date to, but excluding, December 1, 2026, payable semi-annually in arrears. From and including, December 1, 2026 to, but excluding, the maturity date or earlier redemption date, the interest rate will reset quarterly at a variable rate equal to the then current three-month term Secured Overnight Financing Rate (“SOFR”), as published by the Federal Reserve Bank of New York, plus 230 basis points, payable quarterly in arrears. This debt has a 10-year term, and generally, is not prepayable by us within the first 5 years from issuance, which was fourth quarter 2021.

Through the Merger, Burke & Herbert also assumed $30 million of subordinated debentures that were fair valued at $29.8 million with a $0.2 million discount being amortized into interest expense over the stated maturity. As of March 31, 2025, the net balance was $29.9 million. The subordinated debt qualifies as Tier 2 capital under Federal Reserve Board guidelines, until the debt is within 5 years of its maturity; thereafter, the amount qualifying as Tier 2 capital is reduced by 20% each year until its maturity. The subordinated debentures were issued in the third quarter of 2020. This subordinated debt bears interest at a fixed rate of 5.00% per year from the date of assumption to, but excluding, September 30, 2025, payable quarterly in arrears. From and including September 30, 2025, to, but excluding, the maturity date or earlier redemption date, the interest rate will reset quarterly at a variable rate equal to the then current three-month term SOFR plus 487 basis points, payable quarterly in arrears. This debt has a 10-year term, and generally, is not prepayable by us within the first 5 years from issuance, which was third quarter 2020.

Subordinated Debentures Owed to Unconsolidated Subsidiary Trusts

As part of the Merger, Burke & Herbert became the sponsor for SFG Capital Trust I, SFG Capital Trust II, and SFG Capital Trust III. For each of these trusts, 100% of the common equity is owned by us. SFG Capital Trust I issued $3.5 million in capital securities and $109 thousand in common securities and invested the proceeds in $3.61 million of debentures, which were assumed by Burke & Herbert in the Merger. SFG Capital Trust II issued $7.5 million in capital securities and $232 thousand in common securities and invested the proceeds in $7.73 million of debentures, which were assumed by Burke & Herbert in the Merger. SFG Capital Trust III issued $8.0 million in capital securities and $248 thousand in common securities and invested the proceeds in $8.25 million of debentures, which were assumed by Burke & Herbert in the Merger. Distributions on the capital securities issued by the trusts are payable quarterly at a variable rate equal to 3 month LIBOR plus 345 basis points for SFG Capital Trust I, 3 months of LIBOR plus 280 basis points for SFG Capital Trust II, and 3 month LIBOR plus 145 basis points for SFG Capital Trust III, and equals the interest rate earned on the debentures held by the trusts and is recorded as interest expense by us. The capital securities are subject to mandatory redemption in whole, or in part, upon repayment of the debentures. We have entered into agreements which, taken collectively, fully and unconditionally guarantee the capital securities subject to the terms of the guarantee. The debentures of each Capital Trust are redeemable by us quarterly.

The capital securities issued by SFG Capital Trust I, SFG Capital Trust II, and SFG Capital Trust III qualify as Tier 1 capital under the Federal Reserve guidelines. In accordance with these Guidelines, trust preferred securities are limited to

25% of Tier 1 capital elements, net of goodwill. The amount of trust preferred securities and certain other elements in excess of the limit can be included in Tier 2 capital.

The remaining maturities of subordinated debentures as of March 31, 2025, are as follows (in thousands):


	Subordinated debentures		Subordinated debentures owed to unconsolidated subsidiary trusts
Remaining nine months ending, December 31, 2025	$	—	$	—
2026	—		—
2027	—		—
2028	—		—
2029	—		—
Thereafter	105,000		19,589
Total	$	105,000	$	19,589

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I