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 Cash Out Refi and Home Purchase loans. Burke & Herbert Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, California, Easton, and Boston among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Burke & Herbert Bank & Trust Company has an above 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% | 4/18/24 |
| 30 Year Conventional Refi | 5.77% | 4/18/24 |
| 30 Year Cash-out Refi | 5.93% | 4/18/24 |
| 15 Year Conventional Purchase | 5.33% | 4/18/24 |
| 15 Year Conventional Refi | 5.54% | 4/18/24 |
| 15 Year Cash-out Refi | 5.54% | 4/18/24 |
| 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
237Origination Dollar Volume (All Markets)
$116,555,000Employee count
455Top 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) | 215 | $108,705,000 | $505,605 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,785,000 | $595,000 | $0 | 0.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $940,000 | $235,000 | $0 | 0.00% |
| Easton, MD (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $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 | 237 | $116,555,000 | $491,793 | $0 | 0.00% |
For 2019, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 237 originations.
Loan Reason
For 2019, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Cash Out Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 72 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 237 | $116,555,000 | $491,793 | $0 | 0.00% |
For 2019, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 237 originations.
Loan Sizing
2019 saw Burke & Herbert Bank & Trust Company place emphasis on $200k-400k loans with 75 originations, totaling $22,115,000 in origination value.
Applicant Income
Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 64 originations. The second most popular income band? $250k+, with 41 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 237 | $116,555,000 | $491,793 | $0 | 0.00% |
Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 237 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.82%
Burke & Herbert Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination84.39%
Burke & Herbert Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 237 | $116,555,000 | $491,793 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $1,680,000 | $840,000 |
| Single Family (1-4 Units):Site-Built | 235 | $114,875,000 | $488,830 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BERKSHIRE HILLS BANCORP, INC | Conventional home mortgage | Struggling to pay mortgage | 1 | 25.0% |
| BERKSHIRE HILLS BANCORP, INC | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| BERKSHIRE HILLS BANCORP, INC | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 25.0% |
| BERKSHIRE HILLS BANCORP, INC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 25.0% |
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 | $548,991 |
| Burke & Herbert Bank & Trust Company | 14008 Smoketown Road Woodbridge, VA 22192 | Full Service B&M | $53,643 |
| Burke & Herbert Bank & Trust Company | 14122 Lee Highway Fairfax, VA 22031 | Full Service B&M | $42,174 |
| Burke & Herbert Bank & Trust Company | 155 North Paxton Street Alexandria, VA 22304 | Full Service B&M | $89,076 |
| Burke & Herbert Bank & Trust Company | 1705 Fern Street Alexandria, VA 22302 | Full Service B&M | $148,414 |
| Burke & Herbert Bank & Trust Company | 17119 Wayside Drive Dumfries, VA 22026 | Full Service B&M | $16,957 |
| Burke & Herbert Bank & Trust Company | 1775 Jamieson Avenue Alexandria, VA 22314 | Full Service B&M | $67,153 |
| Burke & Herbert Bank & Trust Company | 225 West Broad Street Falls Church, VA 22046 | Full Service B&M | $135,444 |
| Burke & Herbert Bank & Trust Company | 2604 Sherwood Hall Lane Alexandria, VA 22306 | Full Service B&M | $161,095 |
| Burke & Herbert Bank & Trust Company | 302 Maple Ave West Vienna, VA 22180 | Full Service B&M | $57,078 |
| Burke & Herbert Bank & Trust Company | 3030 Clarendon Boulevard Arlington, VA 22201 | Full Service B&M | $55,583 |
| Burke & Herbert Bank & Trust Company | 306 East Monroe Avenue Alexandria, VA 22301 | Full Service B&M | $91,910 |
| Burke & Herbert Bank & Trust Company | 4235 Annandale Road Annandale, VA 22003 | Full Service B&M | $110,659 |
| Burke & Herbert Bank & Trust Company | 4605 Daisy Reid Avenue Woodbridge, VA 22192 | Full Service B&M | $15,690 |
| Burke & Herbert Bank & Trust Company | 500 23rd St S Arlington, VA 22202 | Full Service B&M | $67,542 |
| Burke & Herbert Bank & Trust Company | 5519 Franconia Road Alexandria, VA 22310 | Full Service B&M | $118,606 |
| Burke & Herbert Bank & Trust Company | 5705 Seminary Road Falls Church, VA 22041 | Full Service B&M | $55,398 |
| Burke & Herbert Bank & Trust Company | 5731 Telegraph Road Alexandria, VA 22303 | Full Service B&M | $70,876 |
| Burke & Herbert Bank & Trust Company | 6200 Backlick Road Springfield, VA 22150 | Full Service B&M | $65,594 |
| Burke & Herbert Bank & Trust Company | 621 King Street Alexandria, VA 22314 | Full Service B&M | $84,832 |
| Burke & Herbert Bank & Trust Company | 6210 Interparcel Road Alexandria, VA 22315 | Full Service B&M | $63,872 |
| Burke & Herbert Bank & Trust Company | 6705 Whittier Avenue Mclean, VA 22101 | Full Service B&M | $52,058 |
| Burke & Herbert Bank & Trust Company | 8736-8738 Cooper Road Alexandria, VA 22309 | Full Service B&M | $119,707 |
| Burke & Herbert Bank & Trust Company | 9103 Centreville Road Manassas, VA 20110 | Full Service B&M | $37,789 |
| Burke & Herbert Bank & Trust Company | 9516 Old Keene Mill Road Burke, VA 22015 | Full Service B&M | $67,991 |
For 2019, Burke & Herbert Bank & Trust Company had 25 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $110,685 |
| Net interest income | $89,222 |
| Total noninterest income | $15,031 |
| Gross Fiduciary activities income | $3,003 |
| Service charges on deposit accounts | $5,938 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,090 |
| Pre-tax net operating income | $13,531 |
| Securities gains (or losses, -) | $3,192 |
| Income before extraordinary items | $16,978 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $16,978 |
| Minority interest net income | $0 |
| Net income | $16,978 |
| Sale, conversion, retirement of capital stock, net | $-3,093 |
| Net operating income | $13,786 |
Burke & Herbert Bank & Trust Company's gross interest income from loans was $110,685,000.
Burke & Herbert Bank & Trust Company's net interest income from loans was $89,222,000.
Burke & Herbert Bank & Trust Company's fee based income from loans was $5,938,000.
Burke & Herbert Bank & Trust Company's net income from loans was $16,978,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $21,463 |
| Provision for credit losses | $6,243 |
| Total noninterest expense | $84,479 |
| Salaries and employee benefits | $52,671 |
| Premises and equipment expense | $11,445 |
| Additional noninterest expense | $20,363 |
| Applicable income taxes | $-255 |
| Net charge-offs | $-637 |
| Cash dividends | $14,990 |
Burke & Herbert Bank & Trust Company's interest expense for loans was $21,463,000.
Burke & Herbert Bank & Trust Company's payroll and benefits expense were $52,671,000.
Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $11,445,000.
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 | 1.0% |
| Commercial & industrial loans | 19.0% |
| 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 | $2,395,903 |
| Deposits held in domestic offices | $2,395,903 |
| Deposits by Individuals, partnerships, and corporations | $2,363,336 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $28,763 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,804 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $131,458 |
| Demand deposits | $101,598 |
| Nontransaction accounts | $2,264,445 |
| Money market deposit accounts (MMDAs) | $796,153 |
| Other savings deposits (excluding MMDAs) | $1,057,678 |
| Total time deposits | $410,614 |
| Total time and savings deposits | $2,294,305 |
| Noninterest-bearing deposits | $621,423 |
| Interest-bearing deposits | $1,774,480 |
| Retail deposits | $2,310,101 |
| IRAs and Keogh plan accounts | $45,226 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $2,865,974 |
| Cash & Balances due from depository institutions | $83,747 |
| Interest-bearing balances | $61,936 |
| Total securities | $693,750 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,860,970 |
| Loan and leases loss allowance | $24,201 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $40,637 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $186,870 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $2,865,974 |
| Total Liabilities | $2,512,446 |
| Total deposits | $2,395,903 |
| Interest-bearing deposits | $1,774,480 |
| Deposits held in domestic offices | $2,395,903 |
| % insured (estimated) | $75 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $75,000 |
| Subordinated debt | $0 |
| All other liabilities | $41,543 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,860,970 |
| Loan and leases loss allowance | $24,201 |
| Total loans and leases (domestic) | $1,885,171 |
| All real estate loans | $1,830,377 |
| Real estate loans in domestic offices | $1,830,377 |
| Construction and development loans | $175,705 |
| Residential 1-4 family construction | $5,579 |
| Other construction, all land development and other land | $170,126 |
| Loans secured by nonfarm nonresidential properties | $1,098,226 |
| Nonfarm nonresidential secured by owner-occupied properties | $189,710 |
| Commercial real estate & other non-farm, non-residential | $908,516 |
| Multifamily residential real estate | $75,870 |
| 1-4 family residential loans | $479,734 |
| Farmland loans | $842 |
| Loans held in foreign offices | $0 |
| Farm loans | $16 |
| Commercial and industrial loans | $30,331 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,071 |
| Credit card loans | $0 |
| Related Plans | $1,201 |
| Consumer Auto Loans | $298 |
| Other loans to individuals | $1,572 |
| All other loans & leases | $21,376 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $21,376 |
| 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 | $6,505 |
| Non 1-4 family restructured loans & leases | $2,151 |
| Total loans and leases (foreign) | $0 |
Burke & Herbert Bank & Trust Company had $1,860,970,000 of loans outstanding in 2019. $1,830,377,000 of loans were in real estate loans. $175,705,000 of loans were in development loans. $75,870,000 of loans were in multifamily mortgage loans. $479,734,000 of loans were in 1-4 family mortgage loans. $16,000 of loans were in farm loans. $0 of loans were in credit card loans. $298,000 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 | 238 | $73,049 | $306,929 |
| Nonfarm, nonresidential loans - <$100k | 15 | $654 | $43,600 |
| Nonfarm, nonresidential loans - $100-250k | 69 | $8,412 | $121,913 |
| Nonfarm, nonresidential loans - $250k-1MM | 154 | $63,983 | $415,474 |
| Commercial & Industrial, US addressed loans - <$1MM | 168 | $8,709 | $51,839 |
| Commercial & Industrial, US addressed loans - <$100k | 107 | $2,057 | $19,224 |
| Commercial & Industrial, US addressed loans - $100-250k | 31 | $2,370 | $76,452 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 30 | $4,282 | $142,733 |
| Agriculture operations loans - <$1MM | 1 | $16 | $16,000 |
| Agriculture operations loans - <$100k | 1 | $16 | $16,000 |