Burke & Herbert Bank & Trust Company Mortgage Rates, Fees & Info
Alexandria, VALEI: 549300OS8C7J7ZWMNL70
Tax ID: 54-0155785
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Bank Data
Review & Overview
Burke & Herbert Bank & Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Burke & Herbert Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Winchester, Salisbury, and Virginia Beach among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Burke & Herbert Bank & Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.75% | 12/16/24 |
| 30 Year Conventional Refi | 5.77% | 12/16/24 |
| 30 Year Cash-out Refi | 5.93% | 12/16/24 |
| 15 Year Conventional Purchase | 5.33% | 12/16/24 |
| 15 Year Conventional Refi | 5.54% | 12/16/24 |
| 15 Year Cash-out Refi | 5.54% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Burke & Herbert Bank & Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
169Origination Dollar Volume (All Markets)
$87,685,000Employee count
470Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 158 | $82,770,000 | $523,861 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $640,000 | $320,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Burke & Herbert Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 169 | $87,685,000 | $518,846 | $0 | 0.00% |
For 2018, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 169 originations.
Loan Reason
For 2018, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 169 | $87,685,000 | $518,846 | $0 | 0.00% |
For 2018, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 169 originations.
Loan Sizing
2018 saw Burke & Herbert Bank & Trust Company place emphasis on $400k-600k loans with 45 originations, totaling $22,825,000 in origination value.
Applicant Income
Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $250k+, with 38 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 169 | $87,685,000 | $518,846 | $0 | 0.00% |
Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 169 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.55%
Burke & Herbert Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination73.37%
Burke & Herbert Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 169 | $87,685,000 | $518,846 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 5 | $6,755,000 | $1,351,000 |
| Single Family (1-4 Units):Site-Built | 164 | $80,930,000 | $493,476 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BROKER SOLUTIONS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.6% |
| BROKER SOLUTIONS, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | Conventional home mortgage | Trouble during payment process | 10 | 27.8% |
| BROKER SOLUTIONS, INC. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 11.1% |
| BROKER SOLUTIONS, INC. | FHA mortgage | Closing on a mortgage | 2 | 5.6% |
| BROKER SOLUTIONS, INC. | FHA mortgage | Struggling to pay mortgage | 3 | 8.3% |
| BROKER SOLUTIONS, INC. | FHA mortgage | Trouble during payment process | 5 | 13.9% |
| BROKER SOLUTIONS, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | Reverse mortgage | Closing on a mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | VA mortgage | Closing on a mortgage | 1 | 2.8% |
| BROKER SOLUTIONS, INC. | VA mortgage | Struggling to pay mortgage | 2 | 5.6% |
| BROKER SOLUTIONS, INC. | VA mortgage | Trouble during payment process | 2 | 5.6% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Burke & Herbert Bank & Trust Company | 100 South Fairfax Street Alexandria, VA 22314 | Full Service B&M | $561,034 |
| Burke & Herbert Bank & Trust Company | 14008 Smoketown Road Woodbridge, VA 22192 | Full Service B&M | $56,323 |
| Burke & Herbert Bank & Trust Company | 14122 Lee Highway Fairfax, VA 22031 | Full Service B&M | $36,758 |
| Burke & Herbert Bank & Trust Company | 155 North Paxton Street Alexandria, VA 22304 | Full Service B&M | $88,297 |
| Burke & Herbert Bank & Trust Company | 1705 Fern Street Alexandria, VA 22302 | Full Service B&M | $141,471 |
| Burke & Herbert Bank & Trust Company | 17119 Wayside Drive Dumfries, VA 22026 | Full Service B&M | $15,813 |
| Burke & Herbert Bank & Trust Company | 1775 Jamieson Avenue Alexandria, VA 22314 | Full Service B&M | $61,313 |
| Burke & Herbert Bank & Trust Company | 225 West Broad Street Falls Church, VA 22046 | Full Service B&M | $131,618 |
| Burke & Herbert Bank & Trust Company | 2604 Sherwood Hall Lane Alexandria, VA 22306 | Full Service B&M | $160,105 |
| Burke & Herbert Bank & Trust Company | 302 Maple Ave West Vienna, VA 22180 | Full Service B&M | $46,909 |
| Burke & Herbert Bank & Trust Company | 3030 Clarendon Boulevard Arlington, VA 22201 | Full Service B&M | $62,735 |
| Burke & Herbert Bank & Trust Company | 306 East Monroe Avenue Alexandria, VA 22301 | Full Service B&M | $93,384 |
| Burke & Herbert Bank & Trust Company | 4235 Annandale Road Annandale, VA 22003 | Full Service B&M | $97,939 |
| Burke & Herbert Bank & Trust Company | 4605 Daisy Reid Avenue Woodbridge, VA 22192 | Full Service B&M | $12,906 |
| Burke & Herbert Bank & Trust Company | 500 23rd St S Arlington, VA 22202 | Full Service B&M | $63,900 |
| Burke & Herbert Bank & Trust Company | 5519 Franconia Road Alexandria, VA 22310 | Full Service B&M | $121,396 |
| Burke & Herbert Bank & Trust Company | 5705 Seminary Road Falls Church, VA 22041 | Full Service B&M | $50,843 |
| Burke & Herbert Bank & Trust Company | 5731 Telegraph Road Alexandria, VA 22303 | Full Service B&M | $70,174 |
| Burke & Herbert Bank & Trust Company | 6200 Backlick Road Springfield, VA 22150 | Full Service B&M | $64,603 |
| Burke & Herbert Bank & Trust Company | 621 King Street Alexandria, VA 22314 | Full Service B&M | $87,008 |
| Burke & Herbert Bank & Trust Company | 6210 Interparcel Road Alexandria, VA 22315 | Full Service B&M | $57,581 |
| Burke & Herbert Bank & Trust Company | 6705 Whittier Avenue Mclean, VA 22101 | Full Service B&M | $44,741 |
| Burke & Herbert Bank & Trust Company | 8736-8738 Cooper Road Alexandria, VA 22309 | Full Service B&M | $114,047 |
| Burke & Herbert Bank & Trust Company | 9103 Centreville Road Manassas, VA 20110 | Full Service B&M | $28,043 |
| Burke & Herbert Bank & Trust Company | 9516 Old Keene Mill Road Burke, VA 22015 | Full Service B&M | $60,658 |
For 2018, Burke & Herbert Bank & Trust Company had 25 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $111,599 |
| Net interest income | $96,117 |
| Total noninterest income | $16,869 |
| Gross Fiduciary activities income | $3,016 |
| Service charges on deposit accounts | $5,788 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,065 |
| Pre-tax net operating income | $36,171 |
| Securities gains (or losses, -) | $397 |
| Income before extraordinary items | $34,388 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $34,388 |
| Minority interest net income | $0 |
| Net income | $34,388 |
| Sale, conversion, retirement of capital stock, net | $-7,322 |
| Net operating income | $34,014 |
Burke & Herbert Bank & Trust Company's gross interest income from loans was $111,599,000.
Burke & Herbert Bank & Trust Company's net interest income from loans was $96,117,000.
Burke & Herbert Bank & Trust Company's fee based income from loans was $5,788,000.
Burke & Herbert Bank & Trust Company's net income from loans was $34,388,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $15,482 |
| Provision for credit losses | $1,148 |
| Total noninterest expense | $75,667 |
| Salaries and employee benefits | $46,807 |
| Premises and equipment expense | $10,467 |
| Additional noninterest expense | $18,393 |
| Applicable income taxes | $2,180 |
| Net charge-offs | $66 |
| Cash dividends | $15,144 |
Burke & Herbert Bank & Trust Company's interest expense for loans was $15,482,000.
Burke & Herbert Bank & Trust Company's payroll and benefits expense were $46,807,000.
Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $10,467,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $2,308,733 |
| Deposits held in domestic offices | $2,308,733 |
| Deposits by Individuals, partnerships, and corporations | $2,276,806 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $28,667 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,260 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $176,478 |
| Demand deposits | $145,210 |
| Nontransaction accounts | $2,132,255 |
| Money market deposit accounts (MMDAs) | $732,683 |
| Other savings deposits (excluding MMDAs) | $1,063,429 |
| Total time deposits | $336,143 |
| Total time and savings deposits | $2,163,523 |
| Noninterest-bearing deposits | $618,527 |
| Interest-bearing deposits | $1,690,206 |
| Retail deposits | $2,250,358 |
| IRAs and Keogh plan accounts | $46,773 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $3,006,721 |
| Cash & Balances due from depository institutions | $101,880 |
| Interest-bearing balances | $79,038 |
| Total securities | $847,776 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,835,546 |
| Loan and leases loss allowance | $17,321 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $42,240 |
| Other real estate owned | $338 |
| Goodwill and other intangibles | $0 |
| All other assets | $178,941 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $3,006,721 |
| Total Liabilities | $2,660,858 |
| Total deposits | $2,308,733 |
| Interest-bearing deposits | $1,690,206 |
| Deposits held in domestic offices | $2,308,733 |
| % insured (estimated) | $75 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $320,000 |
| Subordinated debt | $0 |
| All other liabilities | $32,125 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,835,546 |
| Loan and leases loss allowance | $17,321 |
| Total loans and leases (domestic) | $1,852,867 |
| All real estate loans | $1,791,676 |
| Real estate loans in domestic offices | $1,791,676 |
| Construction and development loans | $157,377 |
| Residential 1-4 family construction | $10,191 |
| Other construction, all land development and other land | $147,186 |
| Loans secured by nonfarm nonresidential properties | $1,091,812 |
| Nonfarm nonresidential secured by owner-occupied properties | $259,144 |
| Commercial real estate & other non-farm, non-residential | $832,668 |
| Multifamily residential real estate | $80,257 |
| 1-4 family residential loans | $460,045 |
| Farmland loans | $2,185 |
| Loans held in foreign offices | $0 |
| Farm loans | $15 |
| Commercial and industrial loans | $37,888 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,943 |
| Credit card loans | $0 |
| Related Plans | $1,084 |
| Consumer Auto Loans | $101 |
| Other loans to individuals | $758 |
| All other loans & leases | $21,345 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $21,345 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $9,765 |
| Non 1-4 family restructured loans & leases | $5,192 |
| Total loans and leases (foreign) | $0 |
Burke & Herbert Bank & Trust Company had $1,835,546,000 of loans outstanding in 2018. $1,791,676,000 of loans were in real estate loans. $157,377,000 of loans were in development loans. $80,257,000 of loans were in multifamily mortgage loans. $460,045,000 of loans were in 1-4 family mortgage loans. $15,000 of loans were in farm loans. $0 of loans were in credit card loans. $101,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 276 | $87,804 | $318,130 |
| Nonfarm, nonresidential loans - <$100k | 19 | $850 | $44,737 |
| Nonfarm, nonresidential loans - $100-250k | 79 | $9,903 | $125,354 |
| Nonfarm, nonresidential loans - $250k-1MM | 178 | $77,051 | $432,871 |
| Commercial & Industrial, US addressed loans - <$1MM | 196 | $10,402 | $53,071 |
| Commercial & Industrial, US addressed loans - <$100k | 124 | $2,459 | $19,831 |
| Commercial & Industrial, US addressed loans - $100-250k | 33 | $1,908 | $57,818 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 39 | $6,035 | $154,744 |
| Agriculture operations loans - <$1MM | 1 | $15 | $15,000 |
| Agriculture operations loans - <$100k | 1 | $15 | $15,000 |