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 Refi, 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, Salisbury, Virginia Beach, Baltimore, and California among others. We have data for 16 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% | 4/21/24 |
| 30 Year Conventional Refi | 5.77% | 4/21/24 |
| 30 Year Cash-out Refi | 5.93% | 4/21/24 |
| 15 Year Conventional Purchase | 5.33% | 4/21/24 |
| 15 Year Conventional Refi | 5.54% | 4/21/24 |
| 15 Year Cash-out Refi | 5.54% | 4/21/24 |
| 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
260Origination Dollar Volume (All Markets)
$101,900,000Employee count
409Top 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) | 241 | $96,265,000 | $399,440 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $700,000 | $350,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Newberry, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 260 | $101,900,000 | $391,923 | $0 | 0.00% |
For 2020, Burke & Herbert Bank & Trust Company's most frequently originated type of loan was Conventional, with 260 originations.
Loan Reason
For 2020, Burke & Herbert Bank & Trust Company's most frequently cited loan purpose was Refi, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 260 | $101,900,000 | $391,923 | $0 | 0.00% |
For 2020, Burke & Herbert Bank & Trust Company's most frequently cited loan duration was Other, with 260 originations.
Loan Sizing
2020 saw Burke & Herbert Bank & Trust Company place emphasis on $200k-400k loans with 117 originations, totaling $34,945,000 in origination value.
Applicant Income
Burke & Herbert Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $100k-150k, with 57 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 260 | $101,900,000 | $391,923 | $0 | 0.00% |
Burke & Herbert Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 260 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.32%
Burke & Herbert Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination78.85%
Burke & Herbert Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 260 | $101,900,000 | $391,923 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 260 | $101,900,000 | $391,923 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BERKSHIRE HILLS BANCORP, INC | Conventional home mortgage | Applying for a mortgage or refinancing an existing 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) | Trouble during payment process | 2 | 50.0% |
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 | $556,765 |
| Burke & Herbert Bank & Trust Company | 14008 Smoketown Road Woodbridge, VA 22192 | Full Service B&M | $61,258 |
| Burke & Herbert Bank & Trust Company | 14122 Lee Highway Fairfax, VA 22031 | Full Service B&M | $50,148 |
| Burke & Herbert Bank & Trust Company | 155 North Paxton Street Alexandria, VA 22304 | Full Service B&M | $108,845 |
| Burke & Herbert Bank & Trust Company | 1705 Fern Street Alexandria, VA 22302 | Full Service B&M | $165,550 |
| Burke & Herbert Bank & Trust Company | 17119 Wayside Drive Dumfries, VA 22026 | Full Service B&M | $21,857 |
| Burke & Herbert Bank & Trust Company | 1775 Jamieson Avenue Alexandria, VA 22314 | Full Service B&M | $83,250 |
| Burke & Herbert Bank & Trust Company | 225 West Broad Street Falls Church, VA 22046 | Full Service B&M | $145,003 |
| Burke & Herbert Bank & Trust Company | 2604 Sherwood Hall Lane Alexandria, VA 22306 | Full Service B&M | $177,382 |
| Burke & Herbert Bank & Trust Company | 302 Maple Ave West Vienna, VA 22180 | Full Service B&M | $66,760 |
| Burke & Herbert Bank & Trust Company | 3030 Clarendon Boulevard Arlington, VA 22201 | Full Service B&M | $59,535 |
| Burke & Herbert Bank & Trust Company | 306 East Monroe Avenue Alexandria, VA 22301 | Full Service B&M | $102,078 |
| Burke & Herbert Bank & Trust Company | 4235 Annandale Road Annandale, VA 22003 | Full Service B&M | $133,352 |
| Burke & Herbert Bank & Trust Company | 4605 Daisy Reid Avenue Woodbridge, VA 22192 | Full Service B&M | $23,301 |
| Burke & Herbert Bank & Trust Company | 500 23rd St S Arlington, VA 22202 | Full Service B&M | $73,445 |
| Burke & Herbert Bank & Trust Company | 5519 Franconia Road Alexandria, VA 22310 | Full Service B&M | $136,635 |
| Burke & Herbert Bank & Trust Company | 5705 Seminary Road Falls Church, VA 22041 | Full Service B&M | $62,728 |
| Burke & Herbert Bank & Trust Company | 5731 Telegraph Road Alexandria, VA 22303 | Full Service B&M | $80,290 |
| Burke & Herbert Bank & Trust Company | 6200 Backlick Road Springfield, VA 22150 | Full Service B&M | $76,064 |
| Burke & Herbert Bank & Trust Company | 621 King Street Alexandria, VA 22314 | Full Service B&M | $79,032 |
| Burke & Herbert Bank & Trust Company | 6210 Interparcel Road Alexandria, VA 22315 | Full Service B&M | $78,801 |
| Burke & Herbert Bank & Trust Company | 6705 Whittier Avenue Mclean, VA 22101 | Full Service B&M | $68,590 |
| Burke & Herbert Bank & Trust Company | 8736-8738 Cooper Road Alexandria, VA 22309 | Full Service B&M | $178,081 |
| Burke & Herbert Bank & Trust Company | 9103 Centreville Road Manassas, VA 20110 | Full Service B&M | $48,360 |
| Burke & Herbert Bank & Trust Company | 9516 Old Keene Mill Road Burke, VA 22015 | Full Service B&M | $68,742 |
For 2020, Burke & Herbert Bank & Trust Company had 25 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $101,544 |
| Net interest income | $90,255 |
| Total noninterest income | $16,593 |
| Gross Fiduciary activities income | $3,067 |
| Service charges on deposit accounts | $5,307 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,219 |
| Pre-tax net operating income | $26,495 |
| Securities gains (or losses, -) | $1,944 |
| Income before extraordinary items | $26,499 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $26,499 |
| Minority interest net income | $0 |
| Net income | $26,499 |
| Sale, conversion, retirement of capital stock, net | $-1,398 |
| Net operating income | $24,691 |
Burke & Herbert Bank & Trust Company's gross interest income from loans was $101,544,000.
Burke & Herbert Bank & Trust Company's net interest income from loans was $90,255,000.
Burke & Herbert Bank & Trust Company's fee based income from loans was $5,307,000.
Burke & Herbert Bank & Trust Company's net income from loans was $26,499,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $11,289 |
| Provision for credit losses | $12,648 |
| Total noninterest expense | $67,705 |
| Salaries and employee benefits | $41,236 |
| Premises and equipment expense | $10,643 |
| Additional noninterest expense | $15,826 |
| Applicable income taxes | $1,940 |
| Net charge-offs | $4,152 |
| Cash dividends | $14,906 |
Burke & Herbert Bank & Trust Company's interest expense for loans was $11,289,000.
Burke & Herbert Bank & Trust Company's payroll and benefits expense were $41,236,000.
Burke & Herbert Bank & Trust Company's property, plant and equipment expenses $10,643,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| 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 | $2,789,446 |
| Deposits held in domestic offices | $2,789,446 |
| Deposits by Individuals, partnerships, and corporations | $2,736,371 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $50,034 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,041 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $1,389,991 |
| Demand deposits | $972,412 |
| Nontransaction accounts | $1,399,455 |
| Money market deposit accounts (MMDAs) | $832,064 |
| Other savings deposits (excluding MMDAs) | $220,649 |
| Total time deposits | $346,742 |
| Total time and savings deposits | $1,817,034 |
| Noninterest-bearing deposits | $852,008 |
| Interest-bearing deposits | $1,937,438 |
| Retail deposits | $2,723,137 |
| IRAs and Keogh plan accounts | $43,690 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $3,432,910 |
| Cash & Balances due from depository institutions | $228,704 |
| Interest-bearing balances | $206,771 |
| Total securities | $1,159,701 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,809,289 |
| Loan and leases loss allowance | $32,697 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $50,433 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $184,783 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $3,432,910 |
| Total Liabilities | $3,048,033 |
| Total deposits | $2,789,446 |
| Interest-bearing deposits | $1,937,438 |
| Deposits held in domestic offices | $2,789,446 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $227,059 |
| Subordinated debt | $0 |
| All other liabilities | $31,528 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,809,289 |
| Loan and leases loss allowance | $32,697 |
| Total loans and leases (domestic) | $1,841,986 |
| All real estate loans | $1,684,778 |
| Real estate loans in domestic offices | $1,684,778 |
| Construction and development loans | $154,250 |
| Residential 1-4 family construction | $3,269 |
| Other construction, all land development and other land | $150,981 |
| Loans secured by nonfarm nonresidential properties | $1,016,448 |
| Nonfarm nonresidential secured by owner-occupied properties | $130,558 |
| Commercial real estate & other non-farm, non-residential | $885,890 |
| Multifamily residential real estate | $73,584 |
| 1-4 family residential loans | $439,684 |
| Farmland loans | $812 |
| Loans held in foreign offices | $0 |
| Farm loans | $25 |
| Commercial and industrial loans | $129,921 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,611 |
| Credit card loans | $0 |
| Related Plans | $1,040 |
| Consumer Auto Loans | $302 |
| Other loans to individuals | $1,269 |
| All other loans & leases | $24,651 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $24,651 |
| 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 | $6,205 |
| Non 1-4 family restructured loans & leases | $2,060 |
| Total loans and leases (foreign) | $0 |
Burke & Herbert Bank & Trust Company had $1,809,289,000 of loans outstanding in 2020. $1,684,778,000 of loans were in real estate loans. $154,250,000 of loans were in development loans. $73,584,000 of loans were in multifamily mortgage loans. $439,684,000 of loans were in 1-4 family mortgage loans. $25,000 of loans were in farm loans. $0 of loans were in credit card loans. $302,000 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 | 208 | $63,697 | $306,236 |
| Nonfarm, nonresidential loans - <$100k | 10 | $518 | $51,800 |
| Nonfarm, nonresidential loans - $100-250k | 62 | $7,630 | $123,065 |
| Nonfarm, nonresidential loans - $250k-1MM | 136 | $55,549 | $408,449 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,133 | $93,919 | $82,894 |
| Commercial & Industrial, US addressed loans - <$100k | 809 | $27,179 | $33,596 |
| Commercial & Industrial, US addressed loans - $100-250k | 219 | $30,509 | $139,311 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 105 | $36,231 | $345,057 |
| Agriculture operations loans - <$1MM | 1 | $25 | $25,000 |
| Agriculture operations loans - <$100k | 1 | $25 | $25,000 |