This is exactly what it looks like.

I had this exact situation happen to the fascia boards on my previous house. Carpenter bees bored into the wood and were living in it. Then a woodpecker came along and got them.

The damage in your picture looks exactly how my fascia boards looked after the woodpecker got his meal. You can also see the tunnels that go into the wood. I never even knew the bees were in the fascia, but somehow the woodpecker did…