Annual REPORT
2013
Delivering FOR CUSTOMERS
Our Brand PROMISE At Burke & Herbert Bank, our customers are the focal point of our work. We know we must work hard to earn both their banking business and their loyalty. That’s why we strive to deliver high-quality products and services designed to meet customers’ banking, borrowing, and investing needs — products and services that help our customers to achieve their objectives and realize their dreams. It is why we are focused on exceeding customer expectations, making banking easy, convenient, and rewarding — for both consumers and businesses. And, it is why we will continue to provide friendly and attentive personal service, our signature for generations. When we say that we are “At Your Service,” we mean it.
TOM AND JUDY HARVEY Personal and business customers since 1996
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SABINA RAHMAN
Personal customer since 2011
Our Brand
MISSION
We believe that delivering on this promise of putting customers and their needs first will enable us to become the bank of choice for consumers and businesses throughout northern Virginia, and at the same time, deliver strong financial results and value to our shareholders.
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Table of
CONTENTS Our Brand Promise & Mission 2 Message to Our Shareholders, 4 Customers & Friends Banking 8 Borrowing 12 Investing 14 Financial Statements
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Directors and Bank Officers
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On the COVER (left to right, top to bottom): Fernando Guzman
Personal and business customer since 2002
Luvinia Walker
Personal and business customer since 1992
Phil Manno
Business customer since 1991
Robin Arnold
Personal customer since 1992
Scott Grant
Personal and business customer since 1997
Mary Gallagher
Personal customer since 1998
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Letter to
SHAREHOLDERS, CUSTOMERS & FRIENDS As we reflect on 2013, we are proud of our sustained progress in growing the Bank and following through on our commitment to continue investing in our infrastructure, technology, people, and new products and services, in order to accomplish Burke & Herbert Bank’s mission of becoming the Bank of Choice in northern Virginia. Having completed the third full year since undertaking the Strategic Plan we adopted in 2010, we decided to turn to the best judges of the Bank’s performance – our customers – to gain feedback on how we are doing. To our delight, we heard from many enthusiastic customers who wanted to go on record with their comments about why they have chosen Burke & Herbert Bank. Many of these customers are featured in this year’s Annual Report with comments about how we deliver for them. We believe the storyline emerging from these comments, coupled with growing awareness of the Bank throughout our market, and our continued, healthy
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WE BELIEVE THE STORYLINE EMERGING FROM THESE COMMENTS... PROVIDES VALIDATION THAT BURKE & HERBERT BANK’S UNWAVERING COMMITMENT TO MODERN BANKING, OLD FASHIONED VALUES IS WORKING.
growth in creating new customer relationships, combine to provide validation that Burke & Herbert Bank’s unwavering commitment to Modern Banking, Old Fashioned Values is working. We are delighted that in 2013 the Bank posted strong earnings of $34.6 million or $179.96 per share. Not surprisingly, this year’s net income declined from the record earnings achieved in 2012. Nevertheless, 2013 resulted in the third-highest earnings in the history of the Bank. As was the case across the community banking industry, we continued to experience ever-increasing pressure on our net interest margin as the result of the persistent low-rate environment. When compared to last year, net income decreased $2.0 million (-5.6%). The decrease was driven primarily by the reduction in interest income of $102.2 million, lower than 2012 by $8.8 million (-7.9%). Partially offsetting this decline, interest expense decreased by $2.8 million (-22.5%), as the pervasive low interest rates permitted us to reduce our cost of funds. The Bank’s total assets at year-end stood at $2.56 billion, a decrease of 2.3% from 2012. This decline resulted from the retirement of other borrowed funds, our most costly source of funding, and from attrition in time and savings deposits – primarily in Certificates of Deposits and Money Market Account balances resulting from the low interest rate environment and improving economy. At the same time, we are pleased to report that after declining for several
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quarters, the Bank’s total loans – the primary driver of interest income – increased modestly by 1.25% and reached $1.21 billion at year-end. In 2013, we generated $332 million in new loans and lines of credit, representing the highest level of new loan
production in the past four years and $107 million or 47.6% ahead of 2012. At the same time, the quality of our loan portfolio remained stellar. Loan delinquency rates remain strong and continue to improve. The average delinquency rate for loans dropped to 1.75%
in 2013, down from 2.56% in 2012 and 2.63% the year prior. Non-accrual loans represent only 0.95% of the total loan portfolio, and Other Real Estate Owned declined to $1.6 million at yearend, representing only 0.06% of total assets. Our investment portfolio, another key driver of income for the Bank, also increased slightly, standing at $1.13 billion at year-end. While the mix of our investments varied throughout 2013, the total investment level held relatively steady, increasing by 1.1% over the previous year. Investment income declined by 7.8% from 2012, but nevertheless totaled $36.2 million, providing over 35% of the Bank’s total interest income. Compared to the Bank’s peer group (i.e., banks with assets from $1 billion to $3 billion) Burke & Herbert Bank ranked in the 95th percentile for yield on investments. In dollar terms, this superior performance meant that the Bank earned approximately $12.7 million dollars more in pre-tax investment income than a bank with an average yield on investments. We continued the expansion of our Commercial Lending team undertaken in 2012, adding new loan officers and other team members to help us deliver highcaliber borrowing experiences for our customers. The most notable addition to our team is William W. Newell, who joined us as Executive Vice President and Chief Lending Officer. Bill succeeds Taylor Burke, III who departed in August 2013 LEFT: E. Hunt Burke, Chairman & Chief Executive Officer
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RIGHT: W. Scott McSween, President & Chief Operating Officer
A CENTERPIECE OF OUR WORK OVER THE LAST SEVERAL YEARS IS GROWING THE BANK’S PRIMARY CUSTOMER RELATIONSHIPS WITH CHECKING ACCOUNTS AS THE FOUNDATION. after having enjoyed a long and successful career at the Bank to pursue other personal goals. Bill brings more than 20 years of Commercial Banking experience to his new role, and will leverage his expertise to lead the alreadybegun initiative to rejuvenate and expand the Bank’s commercial lending business. We are delighted to welcome Bill aboard to lead this important work. A centerpiece of our work over the last several years is growing the Bank’s primary customer relationships with checking accounts as the foundation. In 2013, we continued our efforts to attract new core checking relationships to the Bank, promoting our highly-competitive and popular Convenient Checking Accounts with “Free ATMs anywhere in America” and introducing new features
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such as Mobile Banking Deposit. This strategy continues to prove successful, with personal checking account sales for the year reaching nearly 8,000, 5.6% ahead of sales in 2013. We ended 2013 with over 41,000 personal checking accounts on file, an increase of 12.0% over 2012. This healthy gain in our portfolio followed increases of 13.7% last year and 17.2% in 2011. These results demonstrate that our brand of modern banking convenience complemented by friendly, personal service right in your neighborhood is resonating
well with consumers throughout northern Virginia. At year-end, the Bank’s total deposits stood at $2.16 billion, a slight decrease (-1.4%) from the previous year. Not surprisingly, the extended low-rate environment has dampened deposit growth (not only for us but our industry overall). Balances were down most notably in certificates of deposit, attributable directly to today’s low rates. Personal checking account balance growth, however, remained strong (+6.0%). Healthy
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growth in checking balances provides further evidence that our checking account customers are making Convenient Checking the primary account for their everyday banking and bill payment requirements, which in turn leads to making Burke & Herbert Bank the primary Bank for all of their financial needs. Our Wealth Services businesses, comprised of Burke & Herbert Wealth Management and Burke & Herbert Trust Services, also grew in 2013, with income of $2.7 million, an increase of 13.7% over 2012. Launched in 2012 as a key component of the Strategic Plan, we began promoting Burke & Herbert Wealth Management actively in 2013 and hired additional team members to generate and support increased activity. The response from customers to the comprehensive range of investment and financial planning services we now offer through the Wealth Advisors at Burke & Herbert Wealth Management has been terrific. Worthy of note is the fact that all of our Wealth Advisors have achieved the coveted designation of Certified Financial Planner™ (commonly referred to as CFP®). We look forward to continued strong growth in this important business line in 2014 and beyond. Other non-interest income grew in 2013, as service charges and fee income increased 8.1% over the previous year, driven by debit card interchange income that has expanded in line with our growing portfolio of checking accounts – both personal and business.
WHETHER OR NOT YOU ALREADY ARE A CUSTOMER OF BURKE & HERBERT BANK, WE INVITE YOU TO READ THIS ANNUAL REPORT AND HOPE YOU WILL STOP BY ONE OF OUR BRANCHES OR VISIT US ONLINE TO LEARN MORE ABOUT THE MANY WAYS BURKE & HERBERT BANK IS ‘DELIVERING FOR CUSTOMERS.’ These income gains offset a 9.8% decline in Other Fees on Loans, most of which was attributed to reduced revenue from Servicing Released Premiums, as the pace of new mortgage originations slowed during the latter part of 2013. Overall, non-interest income grew 5.3% to $12.6 million in 2013. At $56.3 million, non-interest expenses increased by a modest 1.1% over the previous year, reflecting the steady level of investment in our brand, people and facilities. While we are
continuing to make necessary investments in modernization and upgrades for the long term, we are pleased to have maintained a healthy overhead efficiency ratio of 54.7% for 2013. The year 2013 indeed was another busy and rewarding one at Burke & Herbert Bank, and we are proud to share the Bank’s accomplishments and story for 2013 – our 161st year in business. We are confident about the bright future ahead for our Bank, and look forward to bringing additional banking value and convenience to individuals and businesses throughout northern Virginia in 2014 and beyond. Whether or not you already are a customer of Burke & Herbert Bank, we invite you to read this Annual Report and hope you will stop by one of our branches or visit us online to learn more about the many ways Burke & Herbert Bank is “Delivering for Customers.” On behalf of everyone at Burke & Herbert Bank, thank you for your business and continued support.
E. Hunt Burke Chairman & Chief Executive Officer
W. Scott McSween President & Chief Operating Officer
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BANKING Some of the most visible ways Burke & Herbert Bank delivers on our commitment to innovate and provide “Modern Banking, Old Fashioned Values” can be found in our consumer banking business. We strive to be a leader in offering competitive, new consumer banking services, and believe we must continue to do so in order to remain strong and viable in today’s fast-evolving world of banking.
DARYL MACKEY
Personal and business customer since 2002
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A good example of this in 2013 was our introduction of Mobile Banking Deposit. The ubiquity of mobile phones is changing the way consumers everywhere are accessing financial services. Today, 87% of the U.S. adult population has a mobile phone, and 52% of those are smartphones. And, over 50% of smartphone owners nationwide have used mobile banking within a recent month. In June 2013 the Bank introduced our Mobile Banking Deposit service via a quiet launch that included an announcement on the Bank’s website and a communication sent via email to all Mobile Banking users alerting them to this new feature.
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MOBILE BANKING DEPOSITS
Bill Pay service. The preference for eStatements also has increased notably as customers become increasingly comfortable managing their accounts and account information online. Burke & Herbert Bank customers also are enjoying the convenience that comes with a Burke & Herbert Bank Visa® Debit Card. Overall, 87% of new personal checking account customers are using Debit Cards for convenient access to their accounts. And, increasingly, customers are using their Burke & Herbert Bank Visa® Debit Cards to make purchases. Total debit card purchases in 2013 increased by nearly 13%. Growth of our
The first mobile banking deposit was made within seconds when the service went live, and usage of the service increased three-fold in the second half of 2013, with no signs of slowing.
Becoming the BANK OF CHOICE In addition to using Mobile Banking, our customers continue to increase their use of Burke & Herbert Bank’s full range of convenient and free banking services, reflecting national trends. In 2013, customer enrollment in Online Banking increased significantly with more than 85% of our new personal checking customers opting to enroll in this convenient and time-saving service and an ever-increasing number of customers are paying bills online, utilizing our convenient Online
IN 2013, MORE CUSTOMERS THAN EVER BEFORE MADE BURKE & HERBERT BANK THEIR BANK OF CHOICE.... active cardholder base means our customers are experiencing more purchasing convenience and the Bank benefits in the form of increased non-interest income. In 2013, more customers than ever before made Burke & Herbert Bank their bank of choice: nearly 8,000 new personal checking accounts were opened, an increase of 5.6% over 2012. In August, the Bank passed an important
milestone when our portfolio of personal checking accounts exceeded 40,000.
Appealing to NEW CUSTOMERS While we are keenly aware that attracting and engaging new customers requires us to provide a banking experience that is second to none, we also know that consumers have many choices when selecting their primary bank. Being competitive in our region’s marketplace also requires an ongoing focus on building name recognition and brand awareness for Burke & Herbert Bank. We strive to achieve this by creating distinctive marketing activities and promotional campaigns that reach our target audience with the right message. Chairman and CEO Hunt Burke continues to be Burke & Herbert Bank’s featured spokesman in media advertising and at special events: a distinctive, personal, engaging and compelling symbol of our Brand Promise for all customers. In the spring, the Bank’s “Reality Check” campaign invited consumers to compare their current banking relationships to Burke & Herbert Bank’s offerings, and brought home to many new customers the multiple reasons it is worth switching. In the summer, our “Refer-aFriend” campaign was a success once again. Working on the premise that there is no better advertisement than word-of-mouth referrals from loyal and satisfied
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customers, the campaign awarded $50 Great American Restaurants gift cards both to new checking account customers and to the customers who successfully referred them to the Bank. This popular promotion brought over 1,000 new checking account customers to Burke & Herbert Bank.
You’ll save on fees. Take our
REALITY CHECK & compare your checking to ours. burkeandherbertbank.com • 703-684-1655 Or visit your neighborhood branch today!
©2013 Burke & Herbert Bank
BHB139_BS_0220.indd 1
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2/25/13 12:52 PM
In the fall, the “Burke Delivers” campaign again featured CEO Hunt Burke “delivering” convenient and valuable banking services to customers. After its low-key introduction to customers a few months earlier, Mobile Banking Deposit was prominently featured in the campaign as one of the many valuable banking services delivered by Burke & Herbert Bank.
In all of the Bank’s advertising, our signature offer of “No ATM Fees” continues to be an effective lead message gaining immediate attention. We then have the opportunity to communicate the many ways in which Burke & Herbert Bank is indeed different from, and better than other banking choices. In contrast, similar claims from other banks come with many strings attached. Throughout the year, Burke & Herbert Bank participates enthusiastically in dozens of community events throughout northern Virginia. Our familiar blue tent, gold-shirted “event team” of Bank staff, and of course the Bank’s mascot, Runyon the Parrot,
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LEFT (left to right): Senior Leadership Team: Gerald McQuaid, Technology, Operations & Administrative Services; Shannon Rowan, Trust & Wealth Management; Emily Debeniotis, Human Resources; Donna Udvari, Branch Banking; Terry Cole, Products, Marketing & Sales
PAUL COOKSEY
Personal customer since 1991
all are on hand to greet visitors and make friends at town festivals, parades, road races, baseball games, charitable collections and more. In 2013, we enhanced and expanded the community marketing and events program. With fun new activities for all age groups, and formalized training to prepare our team members to engage event-goers and have conversations, the Bank’s event team was able to make the most of the many opportunities to reach out and form new relationships at dozens of local venues.
the Bank’s market, we leveraged social media, complementing traditional advertising and brand building strategies. With social media sites such as Facebook and Twitter becoming primary online communities in which consumers we seek choose to spend time, in 2013 the Bank implemented a number of social media promotions designed to interest and engage new audiences. “Likes” of the Bank’s Facebook page grew exponentially by year-end, while our Twitter following also began to expand.
MAHENDRA CHUDASAMA Personal and business customer since 2008
To help achieve the objectives of building awareness of Burke & Herbert Bank and reaching out to potential customers throughout
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BORROWING As Burke & Herbert Bank has continued to transform its consumer banking business, in 2013 we embarked on a significant initiative to modernize our lending program. While remaining true to our heritage of local decision-making, we are remodeling our internal processes for underwriting, booking and servicing commercial loans, with a goal of developing scalable processes and providing a consistent, reliable experience, making it easier, more convenient and faster to do business with us. Ultimately, the Bank will be even better positioned to accommodate
increased volume of new loans effectively and efficiently. Importantly, our customers will enjoy a better borrowing experience as a result. In 2013, loan and line of credit production reached $332 million, 47.6% ahead of 2012. The lending program enhancements now underway can be expected to drive significant growth in the latter part of 2014 and beyond.
Move in to a new home loan! Often working with Burke & Herbert Bank’s Commercial Lending Team, our Business Banking Officers play a key role in establishing new business account relationships, for both deposit and lending services. Operating in partnership with our branch managers, and assigned to specific territories within the Bank’s market area, the Business Banking Officers work with all types of business owners and managers, serving as the focal point for providing business customers with the banking products and services they require to manage and grow their businesses. Enhancements to our suite of business banking products and services, slated for introduction in 2014, will support additional growth in this area. Serving the home financing needs of our customers, the Bank’s Consumer Mortgage business helped hundreds of customers obtain new financing for their homes in 2013. Income from Servicing Released Premiums was brisk through the first three quarters of 2013 as we originated and sold fixed-rate mortgage loans to the investor market, but
ABOVE (left to right): Business Banking Team: Khalil Abu-Ghannam, Victoria Hatfield, Donna Udvari, H.B. Swoope, Dan Convery. Not pictured: Walter Clarke
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declined in the fourth quarter as mortgage interest rates rose and mortgage originations slowed dramatically. Despite the year-end slowdown, the mortgage business generated more than $1.8 million in non-interest income for the Bank in 2013. In early spring, we launched our first ever (continued on page 14)
ANTONIO FLORES
Personal and business customer since 1991
MEET WILLIAM W. (BILL) NEWELL
William W. Newell joined the Bank in January 2014 as Executive Vice President and Chief Lending Officer. With over 30 years of experience and a proven track record of success in commercial banking and leadership, Bill will play a key role in developing and executing strategies to grow and diversify Burke & Herbert Bank’s commercial loan portfolio.
TOP (left to right): Commercial Lending Team: Leonard Clark, Jr., Charles Hulfish, Tiffany Craddock, William W. Newell, Betty Crump, Robert Peterbark, Terri Wyzkoski, Arlene Sullivan, Betty Ellis, Tristan Wright, Anthony B. Riolo
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(continued from page 13) branchwide mortgage campaign, “Move in to a new home loan,” which invited customers to “Borrow where you bank,” and promoted our mortgage team’s extensive knowledge of the local real estate markets, their ability to help our customers make confident home financing choices, and complete the process from application to closing quickly and conveniently.
The program served us well in building awareness of our mortgage capabilities and in boosting customer referrals from our branches to our Mortgage Officers. Also in 2013, the Bank implemented a number of new policies and procedures required by new mortgage regulations issued for all mortgage lenders nationwide by the new Consumer
Financial Protection Bureau. The Bank adopted all the required changes on schedule and was in full compliance with the new rules when they began to take effect in January 2014. The consumer mortgage business remains a key area of focus for Burke & Herbert Bank and we are well positioned to continue assisting customers with one of their most important financial decisions.
INVESTING To deliver on Burke & Herbert Bank’s promise of providing our customers with high-quality products and services to meet their savings and investment needs, we worked to expand both the reach and breadth of our Wealth Services offerings in 2013. In May, we launched a new initiative to introduce our customers to the range of Wealth Services we offer, utilizing signage and informational brochures in all of our branches about both Burke & Herbert Trust Services and Burke & Herbert Wealth Management. We expanded our team of Wealth Advisors to include three Advisors, all of whom have earned the prestigious Certified Financial Planner™ (CFP®)
designation. We refined the process for our branch teams to refer interested customers to a Wealth Advisor for complete information and a personal consultation. These efforts helped us produce strong growth both in Wealth Services assets and customer relationships. At year end, assets under management for our combined Trust Services and Wealth Management business
ABOVE: Jeffrey L. Stryker, Senior Executive Vice President & Cashier
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WILLIAM ARMSTRONG Personal and business customer since 1999
RIGHT (left to right): Burke & Herbert Wealth Management Team: Mauricio Perea, Christopher Talbert, William Cole, Travis Clarke, Shannon Rowan
reached $432 million, 24% ahead of the end of 2012. Our Trust Services business is attracting and retaining more significant, highquality trust accounts with the size of new relationships increasing from an average of $819,000 in 2012 to $1.4 million in 2013. And, our newer Wealth Management business is developing into a wellbalanced and profitable business line with a combination of investments and managed accounts that generate commissions and produce an ongoing stream of revenue. We remain focused on building awareness of our sophisticated wealth services offerings and expect continued significant growth in the number of wealth services customers, assets, and the associated revenue. Wealth Management and Trust services are not deposits, are not insured by the FDIC or any other government agency, are not guaranteed by the Bank and may lose value.
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Income STATEMENT
December 31, Twelve Months Ended (in thousands)
2013
INTEREST INCOME Interest on Investments Interest & Fees on Loans TOTAL INTEREST INCOME
$
36,230 65,984 102,214
2012 $
39,308 71,690 110,998
INTEREST EXPENSE Interest on Deposits Interest on Repurchase Agreements Interest on Other Borrowed Funds TOTAL INTEREST EXPENSE
7,639 131 1,885 9,655
9,672 131 2,659 12,462
92,559 726 91,833
98,536 2,869 95,667
2,747 2,285 5,989 1,599 12,620
2,417 2,533 5,543 1,489 11,982
Salaries & Benefits Occupancy Expense Other Operating Expenses TOTAL NON-INTEREST EXPENSE
32,288 4,747 19,227 56,262
32,047 4,750 18,880 55,677
Realized Gain/(Loss) on Securities Realized Gain/(Loss) on Foreclosed Property
(1,457) (287)
(1,358) (30)
46,447 11,877
50,584 13,968
NET INTEREST INCOME BEFORE PROVISION Provision for Loan Losses NET INTEREST INCOME
NON-INTEREST INCOME Fiduciary & Wealth Management Income Other Fees on Loans Service Charges, Commissions & Fees Income on Bank Owned Life Insurance TOTAL NON-INTEREST INCOME
NON-INTEREST EXPENSE
NET INCOME BEFORE TAX Income Tax Expense
NET INCOME
Financial Highlights
Earnings Per Share YTD Number Of Shares Outstanding Dividend Per Share Book Value Per Share Return On Average Assets Return On Average Equity Overhead Efficiency Ratio Gross Loans To Deposits
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$
34,570
$
36,616
$
179.96 191,939 74.00 1,485.92 1.33% 12.27% 54.74% 56.13%
$
190.48 192,209 76.00 1,452.72 1.45% 13.97% 50.38% 54.66%
$ $
$ $
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Balance SHEET
December 31, (in thousands)
ASSETS
2013 2012
Cash & Due from Banks
$
110,666
$
197,317
Obligations of Federal Agencies 93,650 114,843 Collateralized Mortgage Obligations & Mortgage Backed Securities 751,151 759,643 Obligations of States & Political Subdivisions 277,511 233,359 Other Investments 4,320 6,218 Total Investments 1,126,638 1,114,063
Loans, Total 1,211,149 1,196,244 Reserve for Loan Losses (17,795) (17,030) Loans, Net 1,193,354 1,179,214
Premises & Equipment 47,389 47,334 Other Real Estate 1,566 2,641 Other Assets 79,354 79,776 TOTAL ASSETS $ 2,558,967 $ 2,620,345
LIABILITIES
Demand Deposits $ 459,748 $ 484,740 NOW Deposits 343,689 315,483 Time & Savings Deposits 1,354,348 1,388,470 Total Deposits 2,157,785 2,188,693
Repurchase Agreements Other Borrowed Funds
Other Liabilities 10,834 19,854 TOTAL LIABILITIES 2,273,761 2,341,119
80,142 25,000
77,572 55,000
STOCKHOLDERS’ EQUITY Common Stock 3,839 3,844 Surplus 10,000 10,000 Retained Earnings 245,399 222,991 Net Income Year to Date 34,570 36,616 Accumulated Other Comprehensive Income 3,560 17,383 Common Stock Repurchased (12,162) (11,608) TOTAL STOCKHOLDERS’ EQUITY 285,206 279,226
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
$ 2,558,967
$ 2,620,345
The Bank’s transfer agent is: IST Shareholder Services, 433 S Carlton Avenue, Wheaton, IL 60187-9904 Telephone: 800-757-5755, Fax: 630-480-0641 To request a copy of Burke & Herbert Bank’s audited financial statements, please call us at 703.684.1655.
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DIRECTORS & Bank Officers Directors
E. Hunt Burke Chairman Burke & Herbert Bank Hugh R. Heishman Vice Chairman Retired Automobile Dealer Julian F. Barnwell, Jr. Design & Production, Inc. Tyrone B. Bradley Bradley/Parker & Associates, P.C. Suzanne S. Brock Beacon Communications Nicholas Carosi, III Arban & Carosi, Inc. S. Laing Hinson S.L. Hinson Associates, LLLP Michael D. Lubeley Walsh Colucci Lubeley Emrich & Walsh, PC Shawn P. McLaughlin McLaughlin Ryder Investments, Inc. W. Scott McSween Burke & Herbert Bank Marsha H. Murphy Murphy & Associates
Executive Officers E. Hunt Burke Chairman & Chief Executive Officer
W. Scott McSween President & Chief Operating Officer Jeffrey L. Stryker Senior Executive Vice President & Cashier Gerald F. McQuaid Executive Vice President & Chief Technology and Administrative Officer
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William W. Newell Executive Vice President & Chief Lending Officer
Senior
Vice Presidents
Terry Cole Products, Marketing & Sales Emily S. Debeniotis Human Resources Nicholas Greksouk Finance Shannon B. Rowan Trust & Wealth Management Donna M. Udvari Branch Banking
Principal
Vice Presidents Lester J. Bain Corporate Security
M. Patricia Barron Trust Araba A. Brobbey Branch Banking Joseph F. Collum Branch Banking Elizabeth V. Ellis Commercial Lending Nicholas J. Fitzgerald Process and Risk Management Deborah L. Holley Operations Christopher S. Reddick Consumer Mortgage Kathy J. Younger Accounting
VICE PRESIDENTS
Khalil Y. Abu-Ghannam Nancy E. Adcock Daniel A. Andryszak Penelope M. Barnett Elizabeth M. Berkner Gaile S. Binder Leonard Clark, Jr. Walter C. Clarke William F. Cole Tiffany N. Craddock Barbara A. Cupp Teresa M. DeMarco Carl A. Ford Sharondi Foster John M. Gallo Donald W. Galloway Yvette M. Golladay Victoria A. Hatfield Marcy J. Haynie Theresa J. Hoyt Charles S. Hulfish Sherrill D. Hurd Daniel S. Kendle Robert G. Korman, Jr. Jeffrey I. Larrabee Brian T. Lawrence Sheila P. McCree Anne-Marie McPhillips Mary Ann Michniak Debra L. Mills Ramon Parada Vickey C. Pasquariello Mauricio D. Perea Charles A. Persico Anthony B. Riolo Noble W. Rubenstein Catherine E. Slepitza Howard E. Spratt Arlene M. Sullivan Henry B. Swoope, V Christopher J. Talbert Christopher A. Tomasino Sandra N. Vasquez David F. Wallace Tristan W. Wright Terri B. Wyzkoski
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BRANCHES Alexandria City
100 South Fairfax Street (Main Office) 1705 Fern Street (Fairlington) 1775 Jamieson Avenue (Carlyle) 621 King Street 306 East Monroe Avenue 155 North Paxton Street (Landmark)
KATHY EGGLESTON Personal and business customer since 1995
Arlington
500 23rd Street South (Crystal City) 3020 Clarendon Boulevard
Fairfax County
8738 Cooper Road, Alexandria 5519 Franconia Road, Alexandria 6210 Interparcel Road, Alexandria (Kingstowne) 2604 Sherwood Hall Lane, Alexandria 5733 Telegraph Road, Alexandria 4235 Annandale Road, Annandale 9516 Old Keene Mill Road, Burke 14122 Lee Highway, Centreville 5705 Seminary Road, Falls Church (Skyline) 6705 Whittier Avenue, McLean 6200 Backlick Road, Springfield 302 Maple Avenue West, Vienna
Falls Church
225 West Broad Street
City of Manassas
9103 Centreville Road, Manassas
Prince William County
17119 Wayside Drive, Dumfries (Southbridge) 4605 Daisy Reid Avenue, Lake Ridge (Reid’s Prospect) 14008 Smoketown Road, Woodbridge
I-495 Rt 7
Rt 267
McLean
Centreville
Centreville
Rt 123
Rt 236 Annandale
Virginia Rt 123
Reid’s Prospect
Skyline
Rt 1
King Street
Landmark
Franconia
Rt 611
Monroe
Carlyle
Kingstowne
I-95
Crystal City Fairlington
I-395
Springfield
Smoketown
Woodbridge Dale City
Clarendon Rt 50
Alexandria
Burke
Springfield
Manassas
Rt 29
Arlington
I-495
Fairfax
Rt 29
Manassas
Falls Church
I-66
Rt 50
WashDC
McLean
Vienna
I-495
Main Office Telegraph
Rt 1
Mt. Vernon
Sherwood
Cooper Road
Maryland
Southbridge
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CARMEN ZARATE
Personal and business customer since 2006
703.684.1655 burkeandherbertbank.com
JAY SPIEGEL
Personal and business customer since 1993
