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 Md (EGBN) is a regional community banking leader providing tailored financial services across Maryland, Northern Virginia, and Washington DC. This dedicated news hub offers investors and stakeholders immediate access to all official corporate communications and market developments.
Key updates include quarterly earnings disclosures, regulatory filings, leadership announcements, and strategic partnership details. Users will find comprehensive coverage of operational milestones, product launches, and community initiatives that shape the bank's market position.
Bookmark this page for timely updates on commercial lending innovations, digital banking enhancements, and financial performance metrics. Our curated news collection serves as your primary resource for understanding EGBN's evolving role in regional economic development and competitive banking solutions.
Eagle Bancorp, Inc. (NASDAQ: EGBN) reported a net income of $24.2 million for Q1 2023, down 42.6% from $42.2 million in Q4 2022 and 47.0% from $45.7 million in Q1 2022. Earnings per share were $0.78, a decrease of 40.9% from the prior quarter. The decline in earnings was mainly due to reduced net interest income and a higher provision for credit losses. Net interest income fell to $75.0 million, reflecting increased interest expense from deposits and a shift in funding mix. Total loans grew to $7.7 billion, while total deposits decreased by 14.3% to $7.5 billion. The company repurchased 400,000 shares and declared a dividend of $0.45 per share.
Eagle Bancorp, Inc. (NASDAQ: EGBN) has announced a cash dividend of $0.45 per share for Q1 2023, payable on April 28, 2023 to shareholders of record as of April 6, 2023. The Company, headquartered in Bethesda, Maryland, operates through 16 branches across Suburban Maryland, Washington, D.C., and Northern Virginia. EagleBank focuses on building relationships with businesses and individuals in its marketplace. The announcement highlights the Company's commitment to returning value to shareholders amidst a backdrop of economic uncertainties and forward-looking statements regarding future operations.
EagleBank (NASDAQ: EGBN) announced a significant financing deal of $94 million to support the construction of Phase 1 of Strathmore Square in North Bethesda, Maryland.
The project, developed with Aimco and Fivesquares Development, will feature two LEED Gold, Class A apartment buildings comprising 220 units, alongside 8,900 square feet of retail space and a 1.2-acre public park.
Located by the Grosvenor-Strathmore Metrorail Station, Strathmore Square aims to create an inclusive, transit-oriented community emphasizing sustainability and the arts, ultimately expanding to over 2,100 housing units.
EagleBank has announced a $25 million construction financing deal for a 142-unit affordable housing project in Washington, D.C., collaborating with The Community Builders and Dantes Partners. The project, located at 610 Park Road NW, is part of a larger redevelopment plan to transform public housing into a mixed-income community. EagleBank is also investing $17.5 million in a Low-Income Housing Tax Credit project. The five-story apartment complex will feature various amenities, including solar panels and a parking garage. This initiative aims to enhance affordable housing options in the area.
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