This is next to the chimney outside. I just noticed the fairly large hole and not sure what to do. It looks like a repair was made previously as the entire panel looks smooth/different from the one next to it. We have had squirrels in the attic before and pest control sealed the house. You can see a small patch in the middle of the hole with caulk. Inside I don’t see any insects like termites but it looks like the wood is either rotted or gnawed on. Let me know if you have any advice. Thanks! #home