Burke & Herbert Bank

What Burke & Herbert Bank does

Burke & Herbert Bank, operated through its publicly traded holding company Burke & Herbert Financial Services Corp. (NASDAQ: BHRB), is a regional community bank headquartered in Alexandria, Virginia. Founded in 1852, it is one of the oldest banks in the United States and serves retail consumers, small and mid-sized businesses, and select corporate clients across the mid-Atlantic and Appalachian regions through a network of nearly 100 branches spanning Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia. The bank provides traditional banking services including deposit accounts, consumer and commercial lending, mortgage products, commercial real estate financing, cash management, and wealth management, distributed primarily through relationship-based field sales at branch locations rather than digital-first channels.

The bank executes growth through a serial M&A strategy, having completed the merger with Summit Financial Group in May 2024 and the all-stock acquisition of LINKBANCORP, Inc. (valued at approximately $354.2 million) on May 1, 2026, which together created a combined institution with pro forma assets of approximately $11.0 billion. Revenue is generated primarily through net interest income from lending activities, supported by fee-based income from banking services and quarterly dividend distributions to shareholders. Reported quarterly revenue was $84.70 million in Q1 2026 and $86.6 million in Q4 2025, with Q3 2025 net income of $29.7 million, a Q1 2026 adjusted EPS of $1.87 representing a 3.9% year-over-year increase, and a net margin of 23.89%. The bank distributes a quarterly dividend of $0.55 per share, a roughly 3.4% yield at recent trading levels.

The institution operates on a traditional banking technology platform supporting loan origination, deposit services, and branch banking infrastructure, with no disclosed proprietary digital-first platform or AI/ML capabilities in available sources. Its go-to-market is relationship-based field sales targeting customers seeking traditional banking services in markets underserved by larger national banks. Institutional ownership includes Goldman Sachs, Bridgeway Capital Management, Endeavour Capital Advisors, Dimensional Fund Advisors, and Empowered Funds. Leadership transitioned on July 1, 2026, with Roy E. Halyama appointed president succeeding H. Charles Maddy III, following the departure of regional president Phillip M. Quintana to Tompkins Community Bank.

Name

Burke & Herbert Bank

Legal name

Burke & Herbert Financial Services Corp.

Website

https://burkeandherbertbank.com

Company type

Public

Founded year

1852

Operating status

Operating

Headcount range

251–500 employees

Short description

Burke & Herbert Bank is a 1852-founded regional community bank operating nearly 100 branches across the mid-Atlantic and Appalachian regions, serving retail consumers, small and mid-sized businesses, and commercial clients with deposits, lending, and wealth management services.

Ownership category

akta.pro rank

Product category

Regional Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

SBA/Government-Backed & Development Finance Loans (FSAKAGAI), Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

• Retail banking services
• Commercial lending
• Consumer deposit accounts
• Commercial real estate financing
• Wealth management

Headquarters

HQ city

Alexandria

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income generated from the loan portfolio (commercial and retail lending) offset by interest paid on deposits. This is the primary revenue driver for the bank. Strong loan origination and increased deposits were noted in Q3 2025 results.
2. Non-Interest Income / Fees: Fee income from banking services including account maintenance, transaction fees, and other service charges. Revenue of $84.70 million was reported for a recent quarter.
3. Dividend Distributions: The company pays quarterly dividends to shareholders. A quarterly dividend of $0.55 per share was announced, representing a 3.4% yield at a stock price of approximately $65.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Burke & Herbert Bank is a regional community bank that provides deposit accounts (checking and savings), consumer and commercial lending (including commercial real estate financing and mortgages), cash management, and wealth management services to individual consumers, small and mid-sized businesses, and select corporate clients. Operating through nearly 100 branches across six mid-Atlantic and Appalachian states, the bank generates revenue primarily from net interest income on its loan portfolio with supplementary fee income from banking services.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking and Savings Accounts Personal deposit accounts (checking and savings) offered to individual consumers for everyday banking, fund safekeeping, and transactions through branch and digital channels.
• Consumer Loans and Mortgages Personal lending products including consumer loans and residential mortgages provided to individual consumers for personal financing and home purchase or refinance needs.
• Commercial Lending and Credit Facilities Credit facilities extended to small and mid-sized businesses and commercial enterprises to support working capital, expansion, and operational financing needs.
• Commercial Real Estate Financing Loans secured by commercial real estate, including a $17.82 million loan to Linden Property Group to refinance The Grove, a 240-unit apartment community in Newport News, Virginia. Designed for commercial real estate operators and investors.
• Business Deposit and Cash Management Services Business deposit accounts, treasury management, and cash management solutions provided to commercial clients for operational banking and liquidity management.
• Wealth Management Services Advisory and wealth management services supporting personal and business wealth planning for individuals and businesses in the bank's regional markets.
• Corporate Lending and M&A Financing Support Corporate lending, treasury management, and M&A financing support provided to larger corporate and institutional clients, including parties involved in the LINKBANCORP and Summit Financial Group merger transactions.

Quantifiable outcome

• Nearly 100 combined branches across six states post-merger
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• LINKBANCORP, Inc. (LINKBANK)coreStrategic or Co-development Partner · 18 December 2025Burke & Herbert Financial Services Corp. announced an agreement to acquire LINKBANCORP, Inc. in an all-stock merger valued at approximately $354.2 million. The merger expanded Burke & Herbert's footprint into Pennsylvania and increased its branch network and assets. The transaction was completed on May 1, 2026, with LINKBANK merging into Burke & Herbert Bank & Trust Company, creating a combined institution with nearly 100 branches across Delaware, Kentucky, Maryland, Pennsylvania, Virginia, and West Virginia. LINKBANCORP contributed 24 branches spanning Pennsylvania, Maryland, Delaware, and Virginia to the combined entity.
• Summit Financial Group, Inc.coreStrategic or Co-development Partner · 3 May 2024Burke & Herbert Financial Services completed its merger with Summit Financial Group, Inc., with Summit Community Bank, Inc. merging into Burke & Herbert Bank & Trust Company on May 3, 2024. This prior merger combined additional banking operations across multiple U.S. regions. Following the merger, an amendment was made to the Summit Community Bank Supplemental Executive Retirement Plan (SERP), triggering full vesting of benefits.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• LINKBANCORP: Pennsylvania-based community bank (~24 branches) recently merged into Burke & Herbert in May 2026. Pre-merger LINKBANCORP is a useful peer benchmark for the type of mid-sized community bank that Burke & Herbert has been consolidating, representing the deal archetype for future tuck-in M&A.

Direct peers

• Fulton Financial: Pennsylvania-headquartered regional bank (~$25B assets) operating in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia—directly overlapping with Burke & Herbert's LINKBANCORP-expanded footprint. Comparable full-service community banking business model.
• Atlantic Union Bankshares: Virginia-headquartered regional bank holding company with a similar mid-Atlantic branch footprint, commercial and retail banking focus, and comparable asset size (~$10B range). The most direct competitor in Burke & Herbert's core Virginia market, with overlapping product sets and target customers.
• TowneBank: Virginia and North Carolina-headquartered community bank (~$17B assets) operating a branch-based, relationship-banking model with comparable commercial real estate and SMB lending focus. Direct competitor in Hampton Roads/Tidewater Virginia markets where Burke & Herbert also operates.
• Sandy Spring Bancorp: Maryland-based regional bank with similar asset size (~$13B), operating in adjacent mid-Atlantic markets. Comparable business mix of commercial lending, retail banking, and wealth management serving similar SMB and consumer segments.
• Eagle Bancorp: Maryland-based community bank (~$11B assets) serving the greater Washington D.C./Baltimore metro region. Comparable size and focus on commercial banking, CRE lending, and relationship-based SMB services directly competing in markets where Burke & Herbert operates.
• HomeTrust Bancshares: North Carolina-headquartered community bank with operations across the Southeast and mid-Atlantic. Similar asset size and branch-based community banking model with comparable SMB and consumer lending focus.
• WesBanco: West Virginia-based regional bank (~$15B assets) with strong presence in West Virginia, Pennsylvania, and Ohio—overlapping significantly with Burke & Herbert's post-merger footprint in WV, KY, and PA. Similar community banking model with comparable commercial and consumer lending focus.

Broad incumbents

• Capital One Financial: Major diversified financial institution headquartered in McLean, Virginia with significant commercial banking operations. While much larger and more diversified, Capital One is a major competitor for talent, deposits, and commercial clients in Burke & Herbert's core Northern Virginia market.
• M&T Bank: Large regional bank holding company (~$200B+ assets) with significant presence across the mid-Atlantic and Northeast, including Maryland and Virginia. A much larger incumbent competing for the same commercial and retail customers in overlapping mid-Atlantic markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/burkeandherbert
• Facebookfacebook.com/burkeherbertbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Burke & Herbert Bank