Overview / Commentary
703-684-1655
100 South Fairfax Street
Alexandria, VA 22314

Burke & Herbert Bank & Trust Company is headquartered in Alexandria and is the 11th largest bank in the state of Virginia. It is also the 320th largest bank in the nation. It was established in 1852 and as of December of 2018, it had grown to 470 employees at 25 locations. Burke & Herbert Bank & Trust Company's money market rates are 5X the national average, and it boasts an A+ health rating.

Reviews (8)

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.

The best little bank in town

Burke and Herbert is just the best little bank around- anywhere. The sincere customer service is this banks shining star. I have been a customer for the past twenty years, and can't imagine going anywhere else. While remaining small, this banks has grown to accommodate internet banking. The website is easily navigated and ALL ATMS are FREE! Last year, my bank card was compromised while I was in Florida. I know I sounded absolutely distraught on the phone, but I was easily calmed by customer service who helped me through the process. My account, down to the penny was up and running the very next day! Most anyone in the Northern Virginia area would recognize this bank's mascot, the parrot. Burke and Herbert participated in numerous community projects and truly gives back directly to the community. I can't imagine ever banking anywhere else!

Great Bank

My father was with this bank for over 50 years . He constantly begged me to open an account . I finally had a horrific experience with [email protected] , then decided it was time to go elsewhere. I have been with Burke and Herbert for around 8 years . I love the people . They are personable and they know me by my first name at my branch. I have had so many bad experiences with many other banks this is the only one as of yet that I have never had a problem with. Fees are still lower than other banks as well and 100% free atm use anywhere makes this bank even more desirable !!

Wow! You Don't See This Everyday.

Posted by: Denton | Sep 11, 2014

The response from the Chairman and CEO of the bank himself speaks volumes. This is MY kind of bank!

Third Party Check - Reply

Posted by: HuntBurke | Sep 11, 2014

Thank you for being a Burke and Herbert Bank Customer. This is my first time on this site, and I noted with concern the comment (dsanders) about our requiring the identity of an endorser and the consistency of the application of our policies.

Every transaction is unique, but our decisions are based on the identity and resources of the individuals involved. We needed to identify the original endorser (who did not necessarily need to be a bank customer) and the customer would have needed to keep sufficient funds on deposit to cover the check if there were a problem. We always have management - including me - who can look at an individual situation. That is the beauty of banking locally.

Yours very truly,

Hunt Burke

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.

Deposit Issue

I tried depositing a check into my brother in law's account like I have done multiple times before at a different location. Today however, I was questioned my two different employees about who I was, what relation to the person on the account etc.I was trying to deposit money not take out money..Not sure why the special treatment. When all was said and done the explanation I got was, " well, we wanted to make sure it was going to the proper account".I even told the workers exactly whose names were on the account.. what a hassle to put a check in to an account.I am glad I am not a Burke and Herbert member.

Third Party Check

Posted by: dsanders | Aug 31, 2012

I went to the drive thru window on August 31, 2012 to deposit a third party check in the amount of $1,500 and was told the person who is signing the check over to me must have a signature on file with Burke and Herbert.  I’ve deposited two $4,000 and 1 $1,500 checks in the past and wasn’t turned away.  This bank isn’t consistent with the way they do business.



Health
A+

Health Grade Components

Overall
FDIC Certificate #11578
Year Established1852
Employees470
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.13%
Return on Equity - YTD10.08%
Annual Interest Income$111.6MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$3.01B$3.09B
LoansQ4 2018vs Q4 2017$1.84B$1.84B
DepositsQ4 2018vs Q4 2017$2.31B$2.30B
Equity CapitalQ4 2018vs Q4 2017$345.9MM$343.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$17.3MM$16.2MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$14.0MM$11.8MM
Real Estate OwnedQ4 2018vs Q4 2017$338.00K$411.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Burke & Herbert Bank & Trust Company; we are a rate comparison website and cannot provide official rates or promotions.

* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$50-Statement Savings Account
0.05%$10-Kid's Savings Account
0.05%$50-Business Savings Account

Burke & Herbert Bank & Trust Company Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.17%*$1m*-Super Money Market
OTHER TIERS: 1.13% Up to $25k | 1.58% $25k - $100k | 2.08% $100k - $1m
2.17%*$1m*-Business Super Money Market
OTHER TIERS: 1.13% Up to $25k | 1.58% $25k - $100k | 2.08% $100k - $1m
2.15%--Business Super Money Market - Introductory Rate
2.15%--Super Money Market - Introductory Rate
0.45%*$500k*-Premium Money Market Account
OTHER TIERS: 0.10% $1k - $25k | 0.15% $25k - $100k | 0.30% $100k - $250k | 0.40% $250k - $500k
0.45%*$500k*-Business Premium Money Market Account
OTHER TIERS: 0.10% $1k - $25k | 0.15% $25k - $100k | 0.30% $100k - $250k | 0.40% $250k - $500k
0.25%*$100k*-Regular Money Market Account
OTHER TIERS: 0.05% $1k - $2.5k | 0.10% $2.5k - $25k | 0.15% $25k - $100k
0.25%*$100k*-Business Money Market Account
OTHER TIERS: 0.05% $1k - $2.5k | 0.10% $2.5k - $25k | 0.15% $25k - $100k

Burke & Herbert Bank & Trust Company Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$100-Interest on Lawyer Trust Account (IOLTA)
0.15%$25k-Non-Profit Interest Checking
0.05%$100-Interest Checking Account

Burke & Herbert Bank & Trust Company CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$1k-19 Month Bump Up Featured CD
2.50%$1k-9 Month Bump Up Featured CD
1.10%$10k-60 Month CD
1.10%$100k-60 Month Jumbo CD
1.00%*$25k*-30 Month Stepped Featured CD
OTHER TIERS: 0.40% $500 - $10k | 0.75% $10k - $25k
0.90%$100k-48 Month Jumbo CD
0.90%$500-48 Month CD
0.80%$500-36 Month CD
0.80%$100k-36 Month Jumbo CD
0.80%$500-35 Month Bump Up Featured CD
0.60%$500-24 Month CD
0.60%$500-30 Month CD
0.60%$500-25 Month Bump Up Featured CD
0.60%$100k-30 Month Jumbo CD
0.60%$100k-24 Month Jumbo CD
0.55%$500-18 Month CD
0.55%$100k-18 Month Jumbo CD
0.50%$500-12 Month CD
0.50%$100k-12 Month Jumbo CD
0.35%$500-6 Month CD
0.35%$100k-6 Month Jumbo CD
0.25%$500-30 Day CD
0.25%$500-60 Day CD
0.25%$500-90 Day CD
0.25%$100k-30 Day Jumbo CD
0.25%$100k-60 Day Jumbo CD
0.25%$100k-90 Day Jumbo CD

Burke & Herbert Bank & Trust Company IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$100-19 Month Bump Up Featured IRA
2.75%$100-36 Month Fixed IRA
2.75%$100-36 Month Featured IRA
1.10%$100-60 Month Fixed IRA
0.60%$100-25 Month Fixed IRA
0.55%$100-18 Month Variable IRA
Locations

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