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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · Virginia, the state note

Burke & Herbert Bank & Trust Co.

Alexandria, Virginia · $10.98B in assets · beside the 5 other Virginia banks over $10B

The filing

54.4%
CRE / loans
6th of 6
0.94%
ROA
6th of 6
69.0%
Efficiency
6th of 6

Burke & Herbert Bank & Trust Co. is the smallest of the 6 Virginia banks over $10B, with $10.98B in assets at 30 June 2026. Loans are 88.9% of deposits, 3rd of 6 against a median of 89.1%, and equity is 12.1% of assets, 5th of 6. Loans grew +43.1% in the year, the fastest in the cohort, and deposits grew 40.7%; the cohort's median loan growth is +4.4%.

Noncurrent loans are 1.19% of the book, 4th of 6 against a median of 0.85%; 0.97% is 30 to 89 days past due, and the allowance covers them 1.0 times. Commercial real estate is 54.4% of loans, the highest in the cohort against a median of 41.1%, and 335% of capital, above the 300% screen, with construction at 35% against the 100% screen. CRE has grown +236.9% over 36 months, past the guidance's 50% prong.

Return on assets is 0.94%, the lowest in the cohort against a median of 1.58%, on an efficiency ratio of 69.0%, the highest in the cohort. Five years ago it was 1.05%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 14.4% of loans).

Commercial real estate, share of loansVA banks over $10B · 30 June 2026 · lower is stronger, listed first
median 41.1% HB HSBC Bank USA National Association 2.6% CO Capital One National Association 5.0% AU Atlantic Union Bank 40.4% T Townebank 41.8% UB United Bank 48.1% BH Burke & Herbert Bank & Trust Co. 54.4%
Loans, year over yearVA banks over $10B · 30 June 2026 · no better direction, largest first
median +4.4% BH Burke & Herbert Bank & Trust Co. +43.1% T Townebank +22.9% AU Atlantic Union Bank +4.9% UB United Bank +3.9% CO Capital One National Association +2.2% HB HSBC Bank USA National Association -4.5%

SBA 7(a), FY2008 to FY2026

Burke & Herbert Bank & Trust Co. is the 78th largest 7(a) lender into Pennsylvania of 374, with $22M across 16 loans, 0.2% of everything approved in the state (The Huntington National Bank leads with $747M). 17 of its 30 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Pennsylvania, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Lancaster, PA$6M24th of 1041.1%-1.9 pts
Lebanon, PA$5M7th of 406.0%quiet FY2022
Schuylkill, PA$3M8th of 393.8%quiet FY2022
Fairfax, VA$3M74th of 1690.2%thin
Loudoun, VA$3M53rd of 1340.4%thin
Dauphin, PA$2M30th of 710.8%quiet FY2022
Chester, PA$2M60th of 1210.2%quiet FY2022
Spotsylvania, VA$2M17th of 581.4%-2.6 pts
Montgomery, PA$2M85th of 1600.1%thin
Fredericksburg City, VA$2M16th of 502.2%quiet FY2020
Cumberland, PA$1M41st of 660.5%-1.4 pts
Stafford, VA$974K36th of 670.7%quiet FY2020
Union, PA$875K7th of 213.5%thin
17 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Wholesale trade9$7M19.8%0.03%350th of 1,651
Construction12$5M14.3%0.02%538th of 2,063
Accommodation & food services15$5M12.5%0.01%840th of 2,596
Health care & social assistance9$5M12.0%0.01%588th of 2,172
Professional & technical services8$4M10.8%0.01%504th of 1,955
7(a) lenders into Pennsylvania, share of approvals since FY2008374 lenders on record; the ten largest and Burke &
TH The Huntington National Bank 6.0% $747M · 3,723 loans WS Wilmington Savings Fund Society F… 5.3% $655M · 959 loans LO Live Oak Banking Company 4.9% $615M · 509 loans FB Fulton Bank, National Association 4.3% $533M · 636 loans BB Beacon Bank and Trust 4.2% $526M · 572 loans FC First Commonwealth Bank 4.0% $498M · 978 loans Ma Manufacturers and Traders Trust C… 3.6% $451M · 3,808 loans MB Meridian Bank 3.0% $373M · 416 loans TB TD Bank, National Association 2.8% $349M · 2,613 loans PB PNC Bank, National Association 2.6% $318M · 1,532 loans BH Burke & Herbert Bank & Trust Comp… 0.2% $22M · 16 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Burke &RankCohort median
Total CRE against capital, the 300% screen335%6th of 6257%
Construction against capital, the 100% screen35%3rd of 639%
Construction and land development, share of loans5.7%3rd of 66.1%
Non-owner-occupied nonfarm nonresidential, share of loans38.9%6th of 625.2%
Total CRE, the guidance definition, share of loans54.4%6th of 641.1%
CRE growth over 36 months, the third prong+236.9%6th of 6+30.7%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Capital One National Association$662.16B1.6%53.7%1.49%3.27%5.0%89.2%14.9%
HSBC Bank USA National Association$173.10B1.0%55.4%1.45%0.16%0.6%39.2%9.6%
Atlantic Union Bank$38.02B1.6%50.4%0.50%0.02%1.0%93.8%15.2%
United Bank$33.64B1.5%46.3%0.44%0.09%1.2%91.6%16.7%
Townebank$22.62B2.1%57.8%0.22%0.10%1.3%82.2%13.2%
Burke & Herbert Bank & Trust Co.$10.98B0.9%69.0%1.19%0.03%1.2%88.9%12.1%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Burke &Cohort median
20212026Change20212026Change
Loans$1.79B$8.00B+348%$15.60B$26.86B+72%
Deposits$2.91B$9.00B+210%$19.25B$28.96B+50%
NPA / loans1.55%1.19%-0.35 pts0.62%0.85%+0.23 pts
Efficiency63.5%69.0%+5.5 pts64.8%54.5%-10.3 pts
ROA1.05%0.94%-0.10 pts1.49%1.58%+0.09 pts

This read was prepared for Burke & Herbert Bank & Trust Co.'s board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Burke & Herbert Bank & Trust Co. is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort VA banks over $10B
Institution www.burkeandherbertbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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