Welcome to our dedicated page for Eagle Bancorp Md news (Ticker: EGBN), a resource for investors and traders seeking the latest updates and insights on Eagle Bancorp Md stock.
Eagle Bancorp, Inc. reports news as the holding company for EagleBank, a Bethesda, Maryland-based community bank serving businesses, professionals and individuals in the Washington, D.C. area. Recurring updates cover quarterly operating results, cash dividends, net interest income, provision expense, credit costs, capital levels and asset quality trends within the loan portfolio.
Company announcements also address EagleBank’s commercial banking activity, including commercial real estate, construction, working capital, equipment, government contract, asset-based and consumer lending. Governance and corporate updates include board nominations, director appointments, leadership succession and community initiatives through the EagleBank Foundation.
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Eagle Bancorp (NASDAQ: EGBN) announced a cash dividend of $0.40 per share for the fourth quarter of 2021. This dividend will be payable on January 31, 2022, to shareholders of record as of January 19, 2022. The bank, headquartered in Bethesda, Maryland, operates eighteen branches across Suburban Maryland, Washington, D.C., and Northern Virginia, focusing on fostering relationships with businesses and individuals.
EagleBank Foundation announced a successful 17th Annual Fight Against Breast Cancer Golf Classic, raising over $420,000 for local cancer research and outreach programs. Since its inception, the event has amassed nearly $5.0 million. The funds support various organizations, including Holy Cross Hospital Foundation and Washington Hospital Center Cancer Institute. The tournament, which sold out quickly, emphasizes community engagement and ongoing commitment to breast cancer initiatives. CEO Susan G. Riel expressed pride in the foundation's efforts and community resilience.
Eagle Bancorp reported a net income of $43.6 million for Q3 2021, a 5.5% increase from $41.3 million in Q3 2020. Earnings per share rose to $1.36 from $1.28. The increase was largely driven by a $7.5 million reversal of reserves for credit losses, despite lower mortgage fee income. For the first nine months of 2021, net income was $135.1 million, a 45% increase year-over-year. Total assets reached $11.6 billion, with a 2.73% net interest margin. The board increased the cash dividend to $0.40 per share, up 14% from the prior quarter.
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Eagle Bancorp, Inc. (NASDAQ: EGBN) has declared a cash dividend of $0.40 per share for Q3 2021, marking a 14% increase from Q2 2021. This dividend will be payable on November 1, 2021, to shareholders on record by October 21, 2021. Comparison shows a substantial increase of 82% from the $0.22 dividend per share in Q3 2020. The Company operates eighteen branches in Maryland, D.C., and Virginia, focusing on building relationships within its community.
EagleBank has announced financing for a luxury apartment complex in Northwest Washington, D.C., providing support for the construction of 158 unique multifamily units. The project, led by Perseus TDC and Allstate Insurance Company, includes a five-story building with an underground parking garage. The strategic location near metro stations and amenities targets young professionals. The complex will feature a variety of layouts and high-end amenities, including a rooftop pool and fitness center.
Eagle Bancorp, Inc. (NASDAQ: EGBN) reported record net income of $48.0 million for Q2 2021, a 66% increase from Q2 2020's $28.9 million. Key factors included $4.7 million from accelerated interest income due to the sale of PPP loans and a $4.6 million reversal of credit loss allowance. Total revenue reached $95.2 million, up 2.2% year-over-year. The company also increased dividends to $0.35 per share, a 40% hike. Asset quality improved with nonperforming assets at 0.50% of total assets. Total risk-based capital ratio stood strong at 17.98%.
EagleBank announces the promotion of Joseph Clarke to Executive Vice President and Chief Operating Officer. With over 27 years in banking, including significant contributions at EagleBank since 2008, Clarke aims to enhance client's experiences and drive growth across various sectors including Digital Banking and Residential Lending. His appointment reflects a commitment to strengthen relationships within the community. Clarke also represents EagleBank on the Maryland Bankers Association Board and is active in local initiatives.
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