"Welcome to Washington. You've got us all here."

This parting observation from Frida Burling, wife of Washington attorney Edward B. Burling Jr., wasn't too far off the mark, allowing for a bit of exaggeration. She made it to to Kevin G. Woelflein, the guest of honor last night at a reception to introduce him as the new president of American Security Bank.

Nearly 400 of Washington's key business, social and community leaders came to the 1925 F Street Club for the reception, given by W. Jarvis Moody, the bank's chairman, and his wife, Barbara.

But it was a relative newcomer to the community who drew the most attention. Supreme Court Justice Sandra Day O'Connor, accompanied by her husband, John, and still getting her baptism on the Washington party circuit, said she had come for a chance to catch up with old friends.

Former mayor Walter E. Washington, who was robbed on Sunday while watching the Redskins football game on his basement TV, and then went upstairs and discovered the burglar leaving with a loaded suitcase, was philosphical about the culprit's escape.

"I came out tackling just like the Redskins -- missing," said the rueful Washington.

The guest list last night drew on the leaders in the business and community life of Washington. There wasn't the usual predominant representation from the Hill and the diplomatic corps.

Asked if any big business deals were being made at the reception, Woelflein, the new American Security Bank president, replied:

"That's not for this occasion. It's important for a banker to meet a bank's customers and friends. It's very personal when someone trusts his bank with his money."