Burke & Herbert Bank plans to open two locations in Fredericksburg, representing the Alexandria-based bank's first physical presence in that market.
The bank announced this week it will open a Fredericksburg market headquarters at 417 Wolfe St. later this month. The office will serve as the base of operations for recently hired Fredericksburg area resident Greg Mellors, senior vice president of commercial banking, who is leading the bank’s commercial expansion efforts. Jeff Rouse and Lee Pugh, both of whom joined Burke & Herbert earlier this year as commercial relationship managers, also will be based at the Wolfe Street office.
In addition, Burke & Herbert plans to add mortgage loan and wealth services specialists to the Fredericksburg market team.
Tentatively in early August, Burke & Herbert will open a branch at 2521 Cowan Blvd. in the Cowan Center on the Mary Washington Hospital Campus. The branch will offer the bank’s full array of financial products and services for local businesses and individual consumers and will include an ATM, night drop and drive-up teller services.
Another local Fredericksburg banker, Jeffrey Davis, has been hired to lead the new branch. Davis has more than 25 years of financial services experience, most recently serving as a financial sales manager for First Citizens Bank.
“We’re thrilled to open our new market headquarters office in Old Town Fredericksburg – a market that shares many characteristics with our hometown of Alexandria – and delighted with the convenient Cowan Center location for our new branch,” said David P. Boyle, Burke & Herbert's president and chief executive officer.
Burke & Herbert announced its entry into the greater Fredericksburg market earlier this year as part of its plan for growing with emphasis on building additional commercial banking and borrowing relationships. The bank currently has a $1.8 billion loan portfolio, comprised primarily of commercial loans. Total deposits stood at $2.9 billion at the end of the first quarter of 2021.