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American City Business Journals

Burke & Herbert Bank to form holding company to help speed up growth

Burke & Herbert Bank will soon form a holding company — a move that could make it easier for the Alexandria bank to raise capital and make acquisitions if it wishes to do so. Burke & Herbert Financial Services Corp., the new bank holding company, would become the parent company of the $3.6 billion-asset bank founded in 1852. Pending regulatory approval, the holding company structure could be in place within 90 to 120 days and potentially accelerate the bank’s ambitious growth plans, said President and CEO David Boyle.