2022 Annual Report
2022 was an exciting year of growth and change at Burke & Herbert Bank.
Key Highlights:
- The Bank’s net income for 2022 was $44 million, the highest in our history. Driving this result, revenue grew by 6% over the prior year, while expenses grew by 2%. Pre-tax Pre-Provision Earnings totaled $44.8 million, an increase of 14% from the prior year.
- Burke & Herbert Financial Services Corp. was formed, which is now the bank holding company for Burke & Herbert Bank.
- The Bank announced a 40-for-1 stock split, and our intent to list our shares on the Nasdaq stock exchange.
- Our commercial banking team expanded into Richmond, Virginia and Bethesda, Maryland. Work was begun to open our first Richmond branch in 2023, with more to follow.
To learn more, access the 2022 Annual Report.
