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Phone:
703-549-6600 Fax: 703-548-5759
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Virginia’s Oldest
Bank
Step through the oversized doors to the main office and feel the
19th Century warmth of old wood and old-fashioned service. In 1852,
John W. Burke and Arthur Herbert combined their talents and resources in
partnership to serve the financial needs of the City of Alexandria. What is now
Virginia’s oldest bank, successfully operated on a handshake for nearly a
century until it’s incorporation in 1933.
One hundred and forty-eight years (5 generations in the Burke family) later,
Burke & Herbert Bank & Trust Co. has 13 offices, $700,000,000 in assets,
is one of the safest banks in the country and is known in Northern Virginia as
the bank that gives superior service. The bank combines a dedicated staff of
human beings with current behind-the-scenes technology to meet the financial
needs of area residents and businesses. Says E. Hunt Burke, Sr. Executive Vice
President, "We are not trying to be a regional power house; we simply want to
provide good, traditional banking services for folks in our area." What area is
that? Burke & Herbert has offices in Alexandria, Fairfax County, Arlington,
and most recently, Falls Church.
When asked to define "traditional" bank services Burke says he offers
commercial, consumer and real estate loans; a range of deposit accounts from
checking, money market and certificates of deposit, to savings, NOW and trust
accounts. Although the bank seems to have an endless list of financial services,
Charley Lanman and Patricia Barron in the Trust Department handle most
investment accounts. "As a bank, we don’t sell insurance, and we’re not trying
to be your stock broker." Burke quotes his father who, tongue in cheek, used to
say, "We can not afford to be everything to everyone. We lose enough money as it
is just trying to run a bank."
Actually, Burke and Herbert does quite well in comparison with its peers.
Management keeps expenses low. Unlike most banks today that are ever ready to
increase fees on account holders and borrowers, the Burkes find that minimal
fees and maximal personal service are a constant draw for new customers. The
bank prides itself on being associated with the people and businesses that make
up the local community.
The bank, until recently, did not boast of any cutting edge technologies. As
late as 1978, The Wall Street Journal ran a front-page article on the
quaint little bank that did not have a computer. Some customers still recall a
pre-computer letter in their bank statements that read, "You will notice some
numbers printed on the bottom of your checks. Do not be alarmed. They do not
mean any thing to you and they do not mean anything to us, but the people at
Safeway will not cash your checks without them." That was the advent of account
numbers at the bank.
Today the bank takes technology very seriously and has recently built a great
interactive website which you can visit at http://www.burkeandherbertbank.com/.
You will find information concerning services, locations, and much more. Be sure
to keep checking back for On-Line Banking slated for Fall 2000.
