Burke and Herbert Bank Does It Again

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Like the Energizer Bunny Burke and Herbert Bank and Trust Company keeps on going by posting a 32-percent increase in earnings through September 2009, according to a November 2 announcement. They reported earnings of $32.9 million for the first nine months of 2009. Earnings per share totaled $124.51, also up 32 percent from last year.

Our strong performance so far in 2009 is especially gratifying given the challenges of the current economic environment. The loyalty of our customers and dedication of our hard-working employees have helped us maintain Burke and Herbert Banks leadership position both regionally and among banks nationwide, said bank Chairman of the Board Charles K. Collum Jr.

Revenue improved 31 percent, from $52.5 million to $68,8 million, according to the bank. Return on average assets for the period rose 12 percent to 1.75 percent, with return on equity improving to 18.56 percent, an increase of 27 percent.

These results are remarkable and provide even more evidence that our long-standing strategy of sound banking, prudent financial management and efficient operation continues to stand the test of time very well, said E. Hunt Burke, the banks CEO.

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