Dear Our Valued Customers,
For more than 170 years, Burke & Herbert Bank has been dedicated to serving our local communities. The relationships we have built with our customers are at the heart of our success. We’re grateful for the opportunity to continue serving you.
We’re excited to announce that on Monday, November 11, 2024, Burke & Herbert Bank and Summit Community Bank will unite. Our merger of equals will create a stronger, more resilient institution that’s better equipped to service our customers and communities. Together, we’ll offer an expanded range of products and services, enhanced digital capabilities and an expanded branch and ATM network of more than 75 locations across Kentucky, West Virginia, Virginia, Maryland, and Delaware.
Our community-focused culture is essential to who we are, and we are fortunate that we found a partner that feels as strongly as we do about community, culture, and service. Summit Community Bank is a high performing, well-managed institution with strong leadership, a complementary culture, and a footprint that strengthens the combined organization. We look forward to working side by side with them to continue our history of superior service.
We are confident that together we are creating a diversified multi-state community bank that will provide exceptional performance, scale, and solutions to our collective communities, customers, and shareholders for many years to come.
On behalf of the entire Burke & Herbert Bank team, we’re excited about the future and look forward to serving you for many years to come.
David P. Boyle
CEO, Burke & Herbert Bank
H. Charles Maddy
President, Burke & Herbert Bank
Attention Summit Community Bank Clients: Discover everything you need to know about the conversion to Burke & Herbert Bank.
Frequently Asked Questions
On August 24, 2023, we announced that Burke & Herbert Financial Services Corp. and Summit Financial Group signed a merger agreement to become a combined company. Please refer to the press release at ir.burkeandherbertbank.com. The combined organization will have a footprint of more than 75 branches across Kentucky, West Virginia, Virginia, Maryland, and Delaware.
Both Burke & Herbert Bank and Summit Community Bank have a rich history in our respective states. We believe through this combination we are creating a diversified Mid-Atlantic & Southeast community bank that will provide exceptional performance and scale to our collective customers, communities, employees, and shareholders. As a combined organization, we believe our shared beliefs and company missions will result in a strong cultural alignment that will strengthen our ties to our combined communities. It also allows us to create a community foundation dedicated to supporting our combined footprint.
The combined organization will operate under the Burke & Herbert Bank name and brand, and will remain headquartered in Alexandria, Virginia. Additionally, we will have a significant operational presence in Moorefield, West Virginia.
The system conversion date is the weekend of November 9th, 2024. All Summit Community Bank branches will open as Burke & Herbert Bank branches and operate on the new banking platform on Monday, November 11th, 2024.
The combined branch footprint of our organization has no overlap in the communities we serve and will allow us to limit the disruption to our collective customers and their communities.
Click here for the latest news and updates regarding our merger of equals.
As a result of the Bank Merger, Burke & Herbert Bank and Summit Community Bank became a single depository institution on May 3, 2024 (the “Effective Time“) for purposes of deposit insurance coverage pursuant to the rules and regulations of the Federal Deposit Insurance Corporation (the “FDIC”). To provide a grace period for depositors, the FDIC permits separate insurance coverage for six months following the Effective Time of the Bank Merger. After that time, customers holding separate deposits accounts at Burke & Herbert Bank and Summit Community Bank will not be separately insured, but will have the funds in their separate deposit accounts be combined to determine whether the depositor has exceeded the $250,000 federal deposit insurance limit set by the FDIC. If a customer has separate deposit accounts at both Burke & Herbert Bank and Summit Community Bank that, when combined on the six-month anniversary of the Effective Time, will exceed the federal deposit insurance limit, Burke & Herbert Bank strongly advises the customer to call 1-855-571-5824 to speak with a bank representative or visit FDIC.gov and select ‘Deposit Insurance’ for more information about deposit insurance coverage.
