Burke & Herbert Financial Services in Alexandria, Va., plans to list its shares on the Nasdaq.
The $3.5 billion-asset company said in a press release that it should join the exchange in the next six months. Its shares currently trade on the over-the-counter pink sheets.
“We believe listing our shares on Nasdaq will broaden the company’s access to capital and provide better liquidity for our shareholders,” David P. Boyle, Burke & Herbert’s president and CEO, said in the release.
“In addition, by positioning our stock for inclusion in certain stock market indices, we expect greater interest in our stock that may lead to increased value for our shareholders,” Boyle added.
Burke & Herbert Bank, the oldest bank in the Washington area, in recent months has formed a holding company and completed a 40-for-1 stock split.