Two months after hiring its first team of Richmond-area bankers, Burke & Herbert Bank now has a place in town to hang its flag.
The longtime Northern Virginia-based bank recently leased an office in Henrico’s West End to serve as the local home for its commercial banking operations.
A team of four led by Seth Feibelman will soon move into a 3,500-square-foot space at 1802 Bayberry Court.
The local group officially began working for the $3.6 billion Alexandria-based bank earlier this year while still searching for a home base.
Feibelman said they’ve since been hustling to get the word out about Burke & Herbert’s arrival in the region.
“The market has been very receptive to the Burke & Herbert story,” Feibelman said. “We’ve been very active over the last few months.”
The bank’s move into Richmond is part of a continued expansion beyond its home market up north, where it has been focused since its founding in 1852.
It’s starting in Richmond with an initial focus on commercial banking. In addition to Feibelman, who previously spent 10 years at Wells Fargo, the group includes Ray Cilimberg, a 30-year industry veteran who’s had stints at First Capital Bank, South State Bank and First Citizens Bank, and Arnold Blackmon, another veteran of the market who joined Burke & Herbert in 2020 but had been commuting to Northern Virginia.
Feibelman said they expect to move into the new space in the next two weeks. No renovations were required, and the bank also bought the previous tenant’s furniture.
With the commercial group’s office in hand, Feibelman said the bank’s next step is to secure property for its first local retail branches.
“They’re making some headway there,” Feibelman said, adding that it is in negotiations for a couple of properties, with an eye mainly on the West End and Midlothian to start.
It eventually hopes to have four to six branches across the Richmond market.
Colliers International brokers Chris Wallace, Andrew Ferguson and Eric Williford represented the landlord in Burke & Herbert’s lease.
Burke & Herbert’s arrival comes at a busy time for bank expansion in the region.
Chase Bank continues to add sites as part of its initial retail push in the market, while Virginia Credit Union is in growth mode in the city, with spots in Carytown and Scott’s Addition in the works.
And TowneBank has its first Short Pump branch in the works.