Burke & Herbert Bank & Trust Company

Overview / Commentary
100 South Fairfax Street
Alexandria, VA 22314

Burke & Herbert Bank & Trust Company is headquartered in ALEXANDRIA and is the 8th largest bank in the state of Virginia. It is also the 349th largest bank in the nation. It was established in 1852 and as of December of 2023, it had grown to 400 employees at 23 locations. Burke & Herbert Bank & Trust Company's money market rates are 6X the national average, and it has a B+ health rating.

Excellent Security Procedures

Posted by: |

They do a great job securing my accounts from Bozo scammers.

Free Checking and ATM's!

It's a no wonder this bank has been around since 1852. Loyal customers can expect free checking and ATM reimbursements and well as discounts from local merchants. Online and mobile banking is simple yet secure. But, their shining star is their exemplary customer service. While out of town, I discovered my debit card was breached and my checking account drained. Not being able to make it to a branch, the restoration of funds was handled swiftly over the phone and with a quick fax of an affidavit. I was assisted by extremely polite and competent personnel.

Oldest bank in Virginia

This bank is a local bank that has been serving people for many generations in the Northern Virginia area as it is Virginia's oldest bank. Its really unique and quite cool as it is owned and operated by members of the Burke and Herbert families since the 1800's. They offer superb customer service and an old fashioned approach to banking without omitting the convenience of modern technology and all that it has to offer. Using this bank makes me feel like a part of a family that I can trust.


Posted by: |

I was Charged $35 twice per day and against your 12 hours depositing the funds back policy for a overdraft fee to be assessed....and your customer service telling me it should be done before 5pm....simply shameful!



Health Grade Components

FDIC Certificate #11578
Year Established1852
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD9.85%
Annual Interest Income$147.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$3.62B$3.56B
LoansQ4 2023vs Q4 2022$2.06B$1.87B
DepositsQ4 2023vs Q4 2022$3B$2.92B
Equity CapitalQ4 2023vs Q4 2022$313.4MM$271.8MM
Loan Loss AllowanceQ4 2023vs Q4 2022$25.3MM$21MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$3.7MM$5.5MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Burke & Herbert Bank & Trust Company Savings Account Rates

0.05%--Statement Savings Account
0.05%--Kid's Savings Account
0.05%--Business Savings Account

Burke & Herbert Bank & Trust Company Money Market Rates

4.50%--Private Banking Super Money Market
2.80%*$1m*-Super Money Market
OTHER TIERS: 0.01% Up to $25k | 0.10% $25k - $100k | 1.79% $100k - $250k | 2.05% $250k - $500k | 2.30% $500k - $1m
2.80%*$1m*-Business Super Money Market
OTHER TIERS: 0.01% Up to $25k | 0.10% $25k - $100k | 1.79% $100k - $250k | 2.05% $250k - $500k | 2.30% $500k - $1m
0.05%*$100k*-Regular Money Market Account
OTHER TIERS: 0.01% Up to $25k | 0.03% $25k - $100k
0.05%*$100k*-Business Money Market Account
OTHER TIERS: 0.01% Up to $25k | 0.03% $25k - $100k

Burke & Herbert Bank & Trust Company Checking Account Rates

0.30%--Interest on Lawyer Trust Account (IOLTA)
0.10%--Private Banking Interest Checking
0.05%$25k-Non-Profit Interest Checking
0.03%*$1.5k*-Convenient Checking with Interest
OTHER TIERS: 0.01% Up to $1.5k

Burke & Herbert Bank & Trust Company CD Rates

5.00%--10 Month Featured CD
0.20%$500-60 Month CD
0.20%$500-36 Month CD
0.20%$500-48 Month CD
0.15%$500-24 Month CD
0.15%$500-30 Month CD
0.10%$500-12 Month CD
0.10%$500-18 Month CD
0.05%$500-6 Month CD
0.03%$500-30 Day CD
0.03%$500-60 Day CD
0.03%$500-90 Day CD

Burke & Herbert Bank & Trust Company IRA Rates

1.00%$100-18 Month Variable IRA
1.00%$100-25 Month Fixed IRA
1.00%$100-36 Month Fixed IRA
1.00%$100-60 Month Fixed IRA


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