Burke & Herbert Financial Services Corp. - Common Stock (BHRB)

Competitors to Burke & Herbert Financial Services Corp. - Common Stock (BHRB)

Cardinal Financial Corporation

Cardinal Financial Corporation competes with Burke & Herbert by promoting a robust portfolio of loan and deposit products alongside enhanced digital banking capabilities. They have been focusing on expanding their market share through innovative technology solutions and customer service improvements, which have appealed to modern customers seeking convenience. While both companies emphasize community engagement, Cardinal's stronger investment in technology gives it a slight competitive edge.

EagleBank 

EagleBank competes with Burke & Herbert Financial Services by offering a wide range of financial products, including commercial and residential loans, and local banking services. Both institutions focus on community involvement and personal customer relationships; however, EagleBank has been more aggressive in expanding its branch network and leveraging technology to improve customer services. This allows EagleBank to attract a tech-savvy clientele and better serve them digitally.

Hampton Roads Bankshares, Inc.

Hampton Roads Bankshares offers competitive financial products and services primarily in the Virginia region, directly competing with Burke & Herbert Financial Services. Although they share a similar market focus and community banking ethos, Hampton Roads has been focusing on enhancing digital banking services and community outreach programs, which attract younger demographics. Their investment in technology might provide them an edge in customer experience.

United Bankshares, Inc. 

United Bankshares, Inc. competes with Burke & Herbert by operating a larger branch network across a broader geographic area, thereby offering its services to a wider market. UBSI benefits from economies of scale, which allows them to provide lower fees and competitive interest rates. Additionally, their diversified service offerings appeal to both retail and commercial clients, whereas Burke & Herbert has a more localized market focus and traditional banking approach.

Washington Trust Bancorp, Inc. 

Washington Trust Bancorp, Inc. competes by providing both traditional banking services and specialized financial services, including wealth management and investment services. Their strong brand recognition and larger asset base allow them to invest more in marketing and technology, potentially giving them a competitive advantage over Burke & Herbert. However, Burke & Herbert maintains its appeal through a strong community presence and personalized banking services.