Burke & Herbert Bank nails down site for Short Pump branch with $2M deal

Burke & Herbert was established in 1852 and expanded into Richmond in 2022.

Burke & Herbert Bank has officially snagged its spot in Short Pump.

The Northern Virginia-based bank, which is three years into its Richmond-area expansion, last month purchased a 1.2-acre parcel at the southwestern corner of the intersection of Broad Street Road and Wilkes Ridge Parkway.

The site will eventually house the bank’s first branch in the Short Pump market, adding to its other local branch at 2065 Huguenot Road in Chesterfield.

Burke & Herbert paid $2.15 million for the Broad-Wilkes Ridge property. It sits in Goochland County just west of Short Pump Town Center and is part of the Notch at West Creek, a mixed-use section at the northern end of West Creek that currently includes a hotel, apartments and medical offices.

The deal closed June 13. Thalhimer’s Jim Ashby and Richard Thalhimer represented the seller, an entity tied to Pruitt Associates and Riverstone Properties, which controls much of the land in West Creek. Thalhimer’s Alex Wotring, Brian Berkey and Karla Knight represented Burke & Herbert in the deal.

The bank declined to comment on its exact plans for the Short Pump branch, other than to say it is finalizing the details. The property doesn’t yet have a formal street address.

Burke & Herbert purchased the site at the top right corner of the highlighted assemblage at The Notch at West Creek. (Courtesy Thalhimer)

Founded in Northern Virginia in 1852, Burke & Herbert is billed as the oldest bank in Virginia and oldest continuously operating bank in the Washington, D.C., area. Its push into Richmond in 2022 marked the first time the bank had expanded beyond its home territory.

Its growth took a major step last year when it merged with West Virginia’s Summit Community Bank, doubling its size and bringing it to a total of about 75 branches across Delaware, Kentucky, Maryland, Virginia and West Virginia.

The bank had $7.8 billion in total assets at the end of the first quarter.

Burke & Herbert’s Richmond operations are led by Seth Feibelman.

The bank has said its plan is to open three to six branches in the area over time. It also has a commercial loan office in the Glen Forest Office Park at 1802 Bayberry Court in Henrico.

The post Burke & Herbert Bank nails down site for Short Pump branch with $2M deal appeared first on Richmond BizSense.