Alexandria, VA – Burke & Herbert Bank announced today that it has opened a commercial lending office in Bethesda, Maryland. This marks the first time the 170-year old financial institution, headquartered in Alexandria, has operated outside of Virginia. The office is another step in the Bank’s strategic growth plan which includes offices opened earlier this year in Loudoun County and Richmond, Virginia, and a loan office and branch opened in Fredericksburg in 2021.
The Bethesda commercial lending office, at 7272 Wisconsin Avenue, will be led by Senior Vice President and Relationship Manager Michael Solomon. Solomon, local to the Montgomery County area, brings over a decade of financial experience to this role. He will be joined later this month by additional relationship managers and support staff. Long term plans include the possible addition of wealth services, mortgage and retail to meet the needs of the Maryland market.
“Several factors drove the decision to set up shop in Bethesda,” stated President and CEO David Boyle. “Our strategic vision is to grow the bank and the Bethesda market is rich with dealmakers and real estate companies. This office gives us the opportunity to be closer to them as well as to existing commercial customers based in Maryland. We also are looking to hire more lenders – our formula is to get lenders that live in and know the markets where we operate. Having an office in Bethesda makes it easier to attract this local talent.”
Burke & Herbert Bank is the oldest continuously operating bank under its original name headquartered in the greater Washington DC Metro area. The Bank offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Burke & Herbert Bank has over 20 branches throughout the Northern Virginia region and commercial loan offices in Fredericksburg, Loudoun County, Richmond, and in Bethesda, Maryland.
Member FDIC; Equal Housing Lender