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| Burke & Herbert Bank & Trust Company |
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History:
In 1852 Burke & Herbert Bank opened its doors as a banking and exchange office on the corner of Prince and Lee Streets. The founding partners were John Woolfolk Burke and Arthur Herbert.
Mr. Burke was the son of John Muse Burke and Sophia Frances Woolfolk Burke. He was born on January 21, 1825 in Ivy Mount, Caroline, Virginia. Mr. Burke came to Alexandria in 1848 at the age of twenty-three.
Mr. Herbert was born on July 27, 1829 in Alexandria. He was the last person to be born in the historic Carlyle House (built in 1752) and a fourth generation Alexandrian. During the American Civil War, he became a Colonel in the Confederate Army.
When Mr. Burke and Mr. Herbert started their banking business, financial conditions were good in Alexandria. There were three banks in the city at that time: the Alexandria branch of the Farmers Bank of Virginia; the Alexandria branch of the Exchange Bank of Virginia; and the Bank of the Old Dominion.
During these early years, the Bank's services ranged from the sale of stocks and real estate, on commission, to the purchase of land warrants for tracts in the West. The Bank's activities included the purchase and sale of Exchange, Foreign and Domestic, of Bank Notes and coin, the collection of sight and time Bills, the negotiation of Loans, Bonds, and the buying and selling, on commission, of stocks and other public securities. The Bank had accounts and real-estate listings five days after it opened its doors.
Prior to its incorporation in 1933, Burke & Herbert was operated for 81 years as a private partnership with no government regulation or supervision. Now the oldest bank in Virginia, this financial house was built upon the foundations of foresight, good judgement, and integrity laid by Mr. Burke and Mr. Herbert.
Today Burke & Herbert Bank & Trust Company has approximately 1.9 billion dollars in assets and 20 branches throughout Northern Virginia and Prince William County. It offers a range of products from personal accounts and online banking, to business accounts, loans and trust services. Bank management, stock holders, and customers take great pride in belonging to, and sharing in, the history of our community.
Burke & Herbert's walls have provided a safe place for parents and grandparents to open accounts for their children and grandchildren, who in turn, have done the same for their own progeny. While outside, the competition has failed, merged, acquired, and been acquired, customers have come to this institution to forge life-long relationships. With the bank's help, generations have fulfilled their dreams to build new homes and businesses to secure a life for future generations. Burke & Herbert Bank is living history in the heart of Alexandria - an institution that has maintained the financial beat of the city since 1852. |
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