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Eagle Bancorp Inc - EGBN STOCK NEWS

Welcome to our dedicated page for Eagle Bancorp news (Ticker: EGBN), a resource for investors and traders seeking the latest updates and insights on Eagle Bancorp stock.

Eagle Bancorp Inc. (symbol: EGBN) is a prominent bank holding company that operates through its wholly-owned subsidiary, EagleBank. Positioned in the local community banking sector, EagleBank has established 21 offices across Maryland, Northern Virginia, and Washington, D.C. The bank is known for providing superior customer service and custom financial solutions tailored to meet the unique needs of the local business community.

At its core, EagleBank offers an extensive range of commercial banking services designed for business and professional clients. These services include:

  • Commercial loans for various business purposes such as working capital, equipment purchases, and real estate lines of credit
  • Government contract financing
  • Asset-based lending and accounts receivable financing
  • Construction and commercial real estate loans
  • Business equipment financing

In addition to these, EagleBank provides a plethora of consumer banking services aimed at individuals. These include:

  • Consumer home equity lines of credit
  • Personal lines of credit and term loans
  • Consumer loans and personal credit cards
  • Residential mortgage loans

Eagle Bancorp Inc. has been recognized for its recent achievements, including raising nearly $6.0 million in total funds. The company's commitment to financial stability and growth is evident in its thorough reconciliation of non-GAAP financial measures to the nearest GAAP measures, ensuring transparency and reliability for its stakeholders.

With a focus on fostering local economic growth, EagleBank continues to form strategic partnerships and offer competitive personal banking products and services. The bank's dedication to excellence in customer service and innovative financial solutions makes it a cornerstone of the local business community.

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Eagle Bancorp (NASDAQ: EGBN) has announced its participation in the 2024 Hovde Group Financial Services Conference scheduled for November 7-8, 2024. President and CEO Susan G. Riel and CFO Eric R. Newell will represent the company and conduct meetings with institutional investors. The Bethesda-based holding company of EagleBank, one of the largest community banks in the Washington D.C. area, has made management discussion materials for the conference available on their investor relations website.

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Eagle Bancorp reported Q3 2024 net income of $21.8 million ($0.72 per share), compared to Q2's net loss of $83.8 million which included a $104.2 million goodwill impairment charge. Key highlights include a pre-provision net revenue of $35.2 million, net interest income increase of $490,000 to $71.8 million, and total deposits growth of $273.5 million to $8.5 billion. The company recalibrated its dividend to $0.165 from $0.45 per share, aiming to retain $32 million in capital annually. Asset quality metrics showed an increase in nonperforming assets to $137.1 million (1.22% of total assets), while maintaining strong capital ratios with Common Equity Tier 1 at 14.54%.

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Eagle Bancorp, the holding company for EagleBank, has announced a teleconference call for the financial community on October 24, 2024, at 10:00 a.m. (EDT). The call will discuss earnings for the third quarter 2024, which will be released after market close on October 23, 2024.

CEO Susan Riel and CFO Eric Newell will lead the discussion. Interested parties must register to participate, receiving a dial-in number and unique PIN upon registration. The call will also be available via webcast on the company's website.

A replay of the call will be accessible on the company's website until November 7, 2024. Eagle Bancorp is one of the largest community banks in the Washington D.C. area and is traded on NASDAQ under the symbol EGBN.

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Eagle Bancorp, Inc. (NASDAQ: EGBN), the holding company for EagleBank, has announced two strategic actions to position itself for future growth. The company has closed on a private placement of $77.7 million in five-year senior debt maturing on September 30, 2029, and recalibrated its cash dividend for Q3 2024.

CEO Susan G. Riel emphasized the company's focus on advancing its growth strategy and expanding its deposit and loan portfolio diversity. The successful debt issuance, which included $3.9 million invested by Executive Management and the Board of Directors, demonstrates investor confidence in the company's vision.

EagleBank has also announced a cash dividend of $0.165 per share, payable on October 31, 2024, to shareholders of record October 21, 2024. The company will align future dividend announcements with earnings releases, with the next announcement scheduled for late January 2025.

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EagleBank, a leading community bank in the Washington D.C. area, has appointed Evelyn Lee as the new Chief Lending Officer for Commercial and Industrial (C&I) Lending. Lee, with nearly 25 years of experience in C&I portfolio management, will oversee all lending production and portfolio management activities in this division, which is a key strategic growth area for EagleBank.

Lee's appointment, effective September 19th, brings valuable expertise in business development and client experience. Her extensive background includes executive roles at Truist Financial Corp and SunTrust Bank. Lee's community involvement and board positions in various organizations are expected to contribute significantly to EagleBank's growth and establishment as a regional leader in C&I lending.

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Eagle Bancorp, Inc. (NASDAQ: EGBN), the holding company of EagleBank, has announced significant changes in its leadership team. Janice 'Jan' Williams, the current Chief Credit Officer, will be retiring on June 30, 2025, after 22 years of service. To ensure a smooth transition, Kevin Geoghegan will join EagleBank as the new Chief Credit Officer on September 3, 2024.

Geoghegan brings valuable experience from his previous role as Chief Credit Officer at First Midwest Bank and credit risk leadership positions at PNC Financial Services Group and National City Bank. This transition is part of EagleBank's focus on strategic growth and maintaining its position as a leader in the Washington D.C. area banking market.

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EagleBank (NASDAQ: EGBN), a leading community bank in the Washington, D.C. area, has appointed Hetal Desai as its new Chief Risk Officer (CRO). Desai brings extensive experience in risk management from top-tier multinational financial institutions and is a founding member of Chief's Boston Chapter, a network supporting women in leadership roles.

Desai will play a important role in managing risk for EagleBank as it expands its business lines and navigates current market conditions. Her expertise in risk identification and mitigation aligns with the bank's commitment to innovation and adaptation. EagleBank's President and CEO, Susan Riel, expressed confidence that Desai's addition to the team will help maintain the bank's position as the premier trusted banking partner in the region.

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EagleBank (NASDAQ: EGBN) has appointed Pete Mathews as an independent member of its Board of Directors, effective July 26, 2024. Mathews, a veteran Washington, DC banking executive and Maryland resident, brings four decades of experience in Commercial Real Estate (CRE) asset management to the role. He will serve on the Asset Quality Subcommittee of the Risk Committee, contributing to the bank's strategic growth initiatives.

Mathews is a retired Senior Vice President at M&T Bank, where he oversaw commercial and CRE credit officers during his 43-year tenure. His appointment expands EagleBank's Board to 10 directors, with eight being independent. The move is expected to strengthen EagleBank's position as a leader in the Washington, DC region's CRE industry.

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Eagle Bancorp, Inc. (NASDAQ: EGBN) reported a net loss of $83.8 million or $2.78 per share for Q2 2024, primarily due to a $104.2 million goodwill impairment. However, operating net income, adjusted for the impairment, was $20.4 million or $0.67 per diluted share. The company improved its Tier 1 capital leverage ratio to 10.6% and Common Equity Tier 1 Capital to 13.9%. Key highlights include:

- Allowance for Credit Losses (ACL) increased to 1.33% of total loans
- Net interest margin slightly declined to 2.40%
- Loans grew 0.2% to $8.0 billion
- Deposits decreased 2.8% to $8.3 billion
- Net charge-offs reduced to 0.11% from 1.07% in Q1 2024

The company continues to focus on strategic initiatives, including the addition of Expatriate Banking Services and digital banking channel growth to diversify deposits and reduce wholesale funding reliance.

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Eagle Bancorp (NASDAQ: EGBN), the parent company of EagleBank, announced it will host a teleconference call on July 25, 2024, at 10:00 a.m. (EDT) to discuss its second-quarter 2024 financial results. The results will be released after the close of business on July 24, 2024. The call will be led by CEO Susan Riel and CFO Eric Newell.

To participate, interested parties must register at the provided link. Upon registration, they will receive a dial-in phone number and unique PIN. The call will also be available via a live webcast on the company's website, with a replay accessible until August 8, 2024.

Registration Link: https://register.vevent.com/register/BId373c2f4d3af4a28a271e79bee6e0bca

Webcast Link: https://edge.media-server.com/mmc/p/psn698x6

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FAQ

What is the current stock price of Eagle Bancorp (EGBN)?

The current stock price of Eagle Bancorp (EGBN) is $29.7 as of November 6, 2024.

What is the market cap of Eagle Bancorp (EGBN)?

The market cap of Eagle Bancorp (EGBN) is approximately 898.6M.

What are the primary services offered by EagleBank?

EagleBank offers commercial and consumer banking services including commercial loans, real estate lines of credit, government contract financing, and personal credit products.

How many offices does EagleBank have?

EagleBank has 21 offices located in Maryland, Northern Virginia, and Washington, D.C.

What recent achievements has Eagle Bancorp Inc. made?

Eagle Bancorp Inc. has recently raised nearly $6.0 million in total funds and continues to showcase financial stability and growth.

What types of consumer banking services does EagleBank offer?

EagleBank offers home equity lines of credit, personal lines of credit, consumer loans, personal credit cards, and residential mortgage loans.

What is the focus of EagleBank's commercial banking services?

EagleBank focuses on providing commercial loans for working capital, equipment purchases, real estate lines of credit, government contract financing, asset-based lending, and construction loans.

Is Eagle Bancorp Inc. transparent in its financial reporting?

Yes, Eagle Bancorp Inc. ensures transparency by reconciling non-GAAP financial measures to the nearest GAAP measures, providing clear and reliable financial information.

Does EagleBank offer business equipment financing?

Yes, EagleBank provides business equipment financing as part of its commercial banking services.

What is EagleBank's approach to customer service?

EagleBank prides itself on delivering superior customer service and custom financial solutions to meet the needs of the local business community.

What areas do EagleBank's offices serve?

EagleBank's offices serve the Maryland, Northern Virginia, and Washington, D.C. areas.

Who can you contact for more information about Eagle Bancorp Inc.'s earnings?

For more information about Eagle Bancorp Inc.'s earnings, contact Eric R. Newell at 240.497.1796.

Eagle Bancorp Inc

Nasdaq:EGBN

EGBN Rankings

EGBN Stock Data

898.56M
30.18M
3.24%
77.31%
3.93%
Banks - Regional
State Commercial Banks
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United States of America
BETHESDA