John Marshall Bancorp, Inc. (JMSB) Balance Sheet
JMSB balance sheet, 2025
December 31, 2025 · U.S. dollars$2.33B assets = $2.07B liabilities + $265.6M equity
Both columns are drawn to the same scale: what JMSB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
JMSB financial health
Descriptive bands, not a rating. Fiscal 2025.
JMSB balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.08B2016 | $2.33B2025 | +9.0%/yr | |
| Total liabilities | $956.6M2016 | $2.07B2025 | +8.9%/yr | |
| Shareholders’ equity | $118.8M2016 | $265.6M2025 | +9.4%/yr | |
| Cash & short-term investments | $102.9M2016 | $147.3M2025 | +4.1%/yr | |
| Total debt | $118.2M2016 | $85.7M2025 | −3.5%/yr | |
| Net cash (debt) | −$15.3M2016 | $61.6M2025 | +$76.8M | |
| Working capital | −$741.6M2016 | −$1.82B2025 | −$1.1B | |
| Book value per share | $9.262016 | $18.712025 | +8.1%/yr | |
| Debt / equity | 1.002016 | 0.322025 | −0.67 | |
| Shares outstanding | 12.8M2016 | 14.2M2025 | +1.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
JMSB assets
JMSB liabilities and equity
JMSB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
JMSB balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $147.3M | $143.3M | $269.0M | $419.2M | $345.1M | $290.4M | $217.2M | $162.6M | $92.8M | $102.9M |
| Cash & equivalents | $130.0M | $122.5M | $99.0M | $61.6M | $105.8M | $138.5M | $94.5M | $101.6M | $38.1M | $54.6M |
| Short-term investments | $17.3M | $20.8M | $170.0M | $357.6M | $239.3M | $151.9M | $122.7M | $61.1M | $54.7M | $48.3M |
| Receivables | $5.9M | $6.0M | $6.1M | $5.5M | $4.9M | $5.3M | $4.0M | $3.6M | $3.3M | $3.0M |
| Inventory | $0 | $0 | $1.3M | −$67.1M | −$110.7M | −$143.8M | −$98.5M | −$105.7M | −$41.8M | −$57.7M |
| Other current assets | $0 | $0 | $0 | $67.1M | $110.7M | $143.8M | $98.5M | $105.7M | $41.8M | $57.7M |
| Total current assets | $153.1M | $149.3M | $275.1M | $424.7M | $350.0M | $295.7M | $221.2M | $166.2M | $96.1M | $105.9M |
| Property, plant & equipment (net) | $5.9M | $6.3M | $5.5M | $5.8M | $6.5M | $8.4M | $9.6M | $2.9M | $2.5M | $2.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $215.1M | $225.1M | $268.3M | $459.1M | $346.7M | $152.9M | $123.2M | $97.4M | $96.3M | $92.4M |
| Other non-current assets | $1.96B | $1.85B | $1.69B | $1.46B | $1.45B | $1.43B | $1.23B | $1.13B | $980.2M | $874.6M |
| Total assets | $2.33B | $2.23B | $2.24B | $2.35B | $2.15B | $1.89B | $1.58B | $1.39B | $1.18B | $1.08B |
| Liabilities | ||||||||||
| Accounts payable | $2.1M | $2.4M | $4.6M | $1.0M | $843,000 | $877,000 | $1.1M | $1.2M | $996,000 | $220,000 |
| Short-term debt | $4.8M | $5.4M | $10.0M | $26.8M | $1.5M | $5.5M | $12.0M | $15.0M | $10.0M | $14.2M |
| Deferred revenue | — | — | −$4.6M | −$25.8M | −$648,000 | −$4.6M | −$60.3M | −$69.3M | −$80.5M | −$53.0M |
| Total current liabilities | $1.97B | $1.89B | $1.92B | $1.0M | $1.88B | $1.64B | $1.32B | $1.15B | $907.9M | $847.5M |
| Long-term debt | $80.9M | $80.8M | $24.7M | $24.6M | $42.7M | $46.7M | $86.6M | $0 | $0 | $0 |
| Lease obligations | $4.8M | $5.4M | $4.4M | $4.9M | $5.2M | $6.2M | $7.5M | $0 | $0 | $0 |
| Other long-term liabilities | $11.6M | $12.7M | $66.8M | $0 | $15.7M | $11.7M | $11.5M | $98.0M | $138.2M | $109.1M |
| Total liabilities | $2.07B | $1.99B | $2.01B | $2.14B | $1.94B | $1.70B | $1.42B | $1.25B | $1.05B | $956.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $141,000 | $142,000 | $141,000 | $141,000 | $137,000 | $135,000 | $131,000 | $128,000 | $127,000 | $50.7M |
| Retained earnings (deficit) | $176.9M | $160.0M | $146.4M | $146.6M | $117.6M | $92.2M | $73.6M | $57.7M | $45.5M | $36.5M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$7.1M | −$10.7M | −$12.3M | −$28.7M | −$400,000 | $3.8M | $777,000 | −$955,000 | −$671,000 | −$457,000 |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $265.6M | $246.6M | $229.9M | $212.8M | $208.5M | $186.1M | $162.0M | $142.0M | $128.9M | $118.8M |
| Key figures | ||||||||||
| Total debt | $85.7M | $86.2M | $39.2M | $51.5M | $47.9M | $52.9M | $106.1M | $108.1M | $143.0M | $118.2M |
| Net cash (debt) | $61.6M | $57.1M | $229.8M | $367.7M | $297.2M | $237.5M | $111.1M | $54.5M | −$50.2M | −$15.3M |
| Working capital | −$1.82B | −$1.75B | −$1.65B | $423.7M | −$1.53B | −$1.35B | −$1.10B | −$988.4M | −$811.8M | −$741.6M |
| Tangible book value | $265.6M | $246.6M | $229.9M | $212.8M | $208.5M | $186.1M | $162.0M | $142.0M | $128.9M | $118.8M |
| Book value per share | $18.71 | $17.34 | $16.25 | $15.11 | $15.02 | $13.62 | $11.93 | $10.49 | $9.56 | $9.26 |
| Shares outstanding | 14.2M | 14.2M | 14.1M | 14.1M | 13.9M | 13.7M | 13.6M | 13.5M | 13.5M | 12.8M |
| Current ratio | 0.08 | 0.08 | 0.14 | 410.34 | 0.19 | 0.18 | 0.17 | 0.14 | 0.11 | 0.12 |
| Quick ratio | 0.08 | 0.08 | 0.14 | 410.34 | 0.19 | 0.18 | 0.17 | 0.14 | 0.11 | 0.12 |
| Debt / equity | 0.32 | 0.35 | 0.17 | 0.24 | 0.23 | 0.28 | 0.66 | 0.76 | 1.11 | 1.00 |
| Equity / assets | 11.4% | 11.0% | 10.3% | 9.1% | 9.7% | 9.9% | 10.2% | 10.2% | 11.0% | 11.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $6.5M | $223.6M | $147.3M | $229.6M | $190.5M | $244.3M | $252.7M | $321.9M | $330.4M | $311.8M | $269.0M | $361.7M |
| Cash & equivalents | $6.5M | $150.2M | $130.0M | $163.6M | $116.9M | $169.1M | $122.5M | $177.2M | $182.6M | $153.0M | $99.0M | $192.7M |
| Short-term investments | $216.8M | $73.4M | $17.3M | $66.0M | $73.6M | $75.3M | $130.3M | $144.6M | $147.8M | $158.8M | $170.0M | $169.1M |
| Receivables | $6.0M | $6.1M | $5.9M | $5.8M | $5.8M | $5.9M | $6.0M | $5.7M | $6.2M | $6.4M | $6.1M | $5.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$188.8M | −$159.4M | −$132.7M | −$204.1M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $188.8M | $159.4M | $132.7M | $204.1M |
| Total current assets | $12.5M | $229.6M | $153.1M | $235.4M | $196.4M | $250.2M | $258.7M | $327.5M | $336.6M | $318.2M | $275.1M | $367.4M |
| Property, plant & equipment (net) | $5.1M | $5.5M | $5.9M | $6.0M | $6.0M | $6.2M | $6.3M | $5.0M | $5.3M | $5.1M | $5.5M | $5.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $67.0M | $97,000 | $97,000 | $0 | $104,000 | $82,000 | $47,000 | $0 | $0 |
| Long-term investments | $82.6M | $111.2M | $215.1M | $112.0M | $121.3M | $124.1M | $225.1M | $240.2M | $244.6M | $256.4M | $268.3M | $267.9M |
| Other non-current assets | $2.30B | $2.01B | $1.96B | $1.90B | $1.94B | $1.89B | $1.74B | $1.70B | $1.68B | $1.67B | $1.69B | $1.66B |
| Total assets | $2.40B | $2.35B | $2.33B | $2.32B | $2.27B | $2.27B | $2.23B | $2.27B | $2.27B | $2.25B | $2.24B | $2.30B |
| Liabilities | ||||||||||||
| Accounts payable | $2.1M | $2.0M | $2.1M | $1.9M | $2.3M | $2.1M | $2.4M | $2.3M | $4.0M | $2.9M | $4.6M | $2.6M |
| Short-term debt | $40.0M | $4.5M | $1.3M | $4.9M | $16.5M | $5.1M | $1.3M | $4.1M | $77.0M | $77.0M | $10.0M | $4.4M |
| Deferred revenue | — | — | — | $5.0M | — | — | — | — | −$4.0M | −$2.9M | −$4.6M | −$1.8M |
| Total current liabilities | $40.0M | $1.99B | $1.97B | $1.97B | $1.92B | $1.92B | $1.89B | $1.94B | $1.92B | $1.90B | $1.92B | $1.98B |
| Long-term debt | $80.9M | $80.9M | $80.9M | $80.9M | $80.8M | $80.8M | $80.8M | $24.8M | $24.7M | $24.7M | $24.7M | $24.7M |
| Lease obligations | $4.3M | $4.5M | $4.8M | $4.9M | $4.8M | $5.1M | $5.4M | $4.1M | $4.4M | $4.1M | $4.4M | $4.4M |
| Other long-term liabilities | $2.01B | $13.6M | $11.6M | $13.3M | $17.7M | $14.4M | $12.7M | $68.0M | $92.8M | $88.6M | $66.8M | $68.7M |
| Total liabilities | $2.13B | $2.08B | $2.07B | $2.06B | $2.01B | $2.02B | $1.99B | $2.03B | $2.03B | $2.02B | $2.01B | $2.08B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $140,000 | $140,000 | $141,000 | $142,000 | $142,000 | $142,000 | $142,000 | $142,000 | $142,000 | $142,000 | $141,000 | $141,000 |
| Retained earnings (deficit) | $187.5M | $181.7M | $176.9M | $171.0M | $165.6M | $164.8M | $160.0M | $155.2M | $150.9M | $150.6M | $146.4M | $141.9M |
| Accumulated other comprehensive income | −$7.8M | −$7.5M | −$7.1M | −$7.8M | −$8.5M | −$9.3M | −$10.7M | −$9.2M | −$12.6M | −$12.7M | −$12.3M | −$17.0M |
| Total shareholders' equity | $273.6M | $268.1M | $265.6M | $259.7M | $253.7M | $253.0M | $246.6M | $243.1M | $235.3M | $234.6M | $229.9M | $220.6M |
| Key figures | ||||||||||||
| Total debt | $125.2M | $85.4M | $85.7M | $85.8M | $102.1M | $85.9M | $86.2M | $84.9M | $106.1M | $105.9M | $39.2M | $29.1M |
| Net cash (debt) | −$118.7M | $138.1M | $61.6M | $143.8M | $88.4M | $158.4M | $166.6M | $237.0M | $224.2M | $205.9M | $229.8M | $332.6M |
| Working capital | −$27.5M | −$1.76B | −$1.82B | −$1.74B | −$1.72B | −$1.67B | −$1.64B | −$1.61B | −$1.58B | −$1.59B | −$1.65B | −$1.62B |
| Tangible book value | $273.6M | $268.1M | $265.6M | $192.7M | $253.6M | $252.9M | $246.6M | $243.0M | $235.3M | $234.5M | $229.9M | $220.6M |
| Book value per share | $19.37 | $18.98 | $18.78 | $18.26 | $17.84 | $17.76 | $17.34 | $17.10 | $16.57 | $16.54 | $16.25 | $15.67 |
| Shares outstanding | 14.1M | 14.1M | 14.1M | 14.2M | 14.2M | 14.2M | 14.2M | 14.2M | 14.2M | 14.2M | 14.1M | 14.1M |
| Current ratio | 0.31 | 0.12 | 0.08 | 0.12 | 0.10 | 0.13 | 0.14 | 0.17 | 0.18 | 0.17 | 0.14 | 0.19 |
| Quick ratio | 0.31 | 0.12 | 0.08 | 0.12 | 0.10 | 0.13 | 0.14 | 0.17 | 0.18 | 0.17 | 0.14 | 0.19 |
| Debt / equity | 0.46 | 0.32 | 0.32 | 0.33 | 0.40 | 0.34 | 0.35 | 0.35 | 0.45 | 0.45 | 0.17 | 0.13 |
| Equity / assets | 11.4% | 11.4% | 11.4% | 11.2% | 11.2% | 11.1% | 11.0% | 10.7% | 10.4% | 10.4% | 10.3% | 9.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
JMSB financial position
At the end of fiscal 2025 (December 31, 2025), John Marshall Bancorp had total assets of $2.3 billion (up 4.4% from a year earlier), total liabilities of $2.1 billion and shareholders' equity of $265.6 million. It held $147.3 million in cash and short-term investments against $85.7 million of debt, a net cash position of $61.6 million. Its current ratio was 0.08. In the latest quarter (ended June 30, 2026) total assets were $2.4 billion and equity $273.6 million.
Related: JMSB income statement, JMSB cash flow statement, JMSB key metrics. See the JMSB stock overview for the latest quote and news.
JMSB balance sheet FAQ
What are John Marshall Bancorp's total assets?
John Marshall Bancorp reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.2 billion a year earlier.
How much debt does John Marshall Bancorp have?
John Marshall Bancorp had $85.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.32.
How much cash does John Marshall Bancorp have?
John Marshall Bancorp held $147.3 million in cash and short-term investments at the end of fiscal 2025; with $85.7 million of debt that is net cash of $61.6 million.
What is John Marshall Bancorp's book value?
John Marshall Bancorp's shareholders' equity (book value) was $265.6 million at the end of fiscal 2025, or $18.71 per share.
What is John Marshall Bancorp's current ratio?
John Marshall Bancorp had current assets of $153.1 million and current liabilities of $2.0 billion, a current ratio of 0.08 (current liabilities exceed current assets).