Burke & Herbert Bank Declares Quarterly Dividend
Bank Reports Strong Overall Performance for 2013
Alexandria, VA, Jan. 17, 2014 – Burke & Herbert Bank announced that on Jan. 16, 2014 the Bank’s Board of Directors declared a dividend per share of $17.00 payable on March 3, 2014 to shareholders of record as of the close of business on Feb. 14, 2014. The per-share dividend of $17.00 is equal to the dividend paid in the first quarter of 2013.
"Burke & Herbert Bank achieved another strong year in 2013 as we continued our work to enhance our brand and become the Bank of choice for consumers and businesses throughout Northern Virginia," said E. Hunt Burke, the Bank's Chairman & Chief Executive Officer. "Customers throughout the market are responding positively to our unique combination of modern, convenient banking services coupled with good, old-fashioned, personal customer service, resulting in strong growth of our customer base. We are pleased to be able to deliver value to customers and to our shareholders as well," he added.
Burke & Herbert Bank posted net income for 2013 of $34.6 million, shy of last year's record earnings of $36.6 million. Earnings per share for 2013 were $179.96, a decrease from $190.50 the previous year.
Burke & Herbert Bank, established in 1852, is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington, D.C. area. The Bank offers a full range of personal and business banking products along with trust and wealth management products and services. Burke & Herbert Bank is headquartered in Alexandria and operates 25 branches in Northern Virginia.
Trust and wealth management products and 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.