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10-K
2023 FY
BHRB
Burke & Herbert Bank & Trust Company
22 Mar 24
Annual report
9:06am
Other operating expense from the Statements of Income for years ended December 31, 2023, December 31, 2022, and December 31, 2021, is as follows (in thousands):
2023 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FDIC & other regulatory assessment | $ | 1,957 | $ | 958 | $ | 920 | Historic tax credit amortization | 2,526 | 2,526 | 2,717 | IT related | 2,058 | 1,980 | 1,306 | Consultant fees | 3,082 | 1,708 | 1,548 | Network expense | 1,810 | 1,693 | 1,592 | Directors' fees | 1,918 | 1,941 | 1,093 | Audit expense | 1,124 | 705 | 302 | Legal expense | 2,245 | 986 | 275 | Virginia franchise tax | 2,601 | 2,492 | 2,366 | Marketing expense | 672 | 1,295 | 1,086 | Debit card expenses | 776 | 596 | 795 | (Gain)/loss on sale of buildings | 37 | (4,533) | (1,063) | Other | 5,177 | 5,072 | 4,832 | Total | $ | 25,983 | $ | 17,419 | $ | 17,769 |
10-K
2023 FY
BHRB
Burke & Herbert Bank & Trust Company
22 Mar 24
Annual report
9:06am
Monitoring of the CRE concentration is performed at both the loan level and at the portfolio level. The Credit Risk Management team provides management and the board of directors with periodic reports on the credit portfolio, which include the CRE portfolio (including owner-occupied CRE and acquisition, construction & development loans). These reports provide an assessment of asset quality and risk rating migration and monitor concentrations against the board approved concentration limits (including sub-limits). The tables below present the Bank’s commercial real estate, owner-occupied commercial real estate, and acquisition, construction & development portfolios by collateral type and geographic location (in thousands).
Commercial Real Estate by Collateral Type and Geographic Location | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VA | MD | DC | Other | Total | Percentage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Real Estate | $ | 189,214 | $ | 115,863 | $ | 29,742 | $ | 4,964 | $ | 339,783 | 26.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial/Warehouse | 190,210 | 23,406 | — | — | 213,616 | 16.3 | Multi-Family | 124,415 | 19,462 | 50,597 | 906 | 195,380 | 14.9 | Office Buildings/Condos | 125,978 | 36,297 | 24,725 | — | 187,000 | 14.3 | Hotels/Motels | 36,577 | 40,139 | 53,179 | 13,876 | 143,771 | 11.0 | Self-Storage | 59,685 | — | — | — | 59,685 | 4.6 | Nursing-Assisted Living | 38,375 | — | — | — | 38,375 | 2.9 | Restaurants | 19,066 | 7,545 | 10,738 | 867 | 38,216 | 2.9 | Gas Stations | 7,483 | 1,693 | 14,953 | — | 24,129 | 1.8 | Other | 25,989 | 12,219 | 30,921 | — | 69,129 | 5.3 | Total | $ | 816,992 | $ | 256,624 | $ | 214,855 | $ | 20,613 | $ | 1,309,084 | 100.0 | % |
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