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Eagle Bancorp (NASDAQ: EGBN) secures 1-year DOJ non-prosecution deal

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Eagle Bancorp, Inc. reported that its subsidiary EagleBank has settled a previously disclosed investigation by the U.S. Attorney’s Office for the Middle District of Pennsylvania. The investigation involved, among other things, the bank’s anti-money laundering controls and its relationship with a former customer who pleaded guilty to bank fraud in 2020.

The company and the bank have agreed to a one-year non-prosecution agreement with the U.S. Department of Justice’s Criminal Division and the U.S. Attorney’s Office. Under this agreement, the Offices will not bring criminal or civil cases for the conduct described in the statement of facts, provided the company and bank comply with the agreement’s terms. EagleBank will pay approximately $9.8 million, an amount that was already fully accrued in Eagle Bancorp’s audited financial statements for the year ended December 31, 2025.

Positive

  • None.

Negative

  • Eagle Bancorp and EagleBank entered a one-year non-prosecution agreement with DOJ and the U.S. Attorney’s Office after an investigation into anti-money laundering controls, including a fully accrued $9.8 million payment, highlighting past compliance issues and a meaningful regulatory resolution.

Insights

Settlement ends a key DOJ probe with a $9.8M cost already reserved.

Eagle Bancorp and EagleBank have reached a one-year non-prosecution agreement with the U.S. Department of Justice and the U.S. Attorney’s Office for the Middle District of Pennsylvania. This follows an investigation into anti-money laundering controls and the bank’s relationship with a former customer who pleaded guilty to bank fraud in 2020.

The agreement means the authorities will not pursue criminal or civil cases for the conduct described in the attached statement of facts, so long as the company and bank meet all terms for one year. The bank will pay about $9.8 million, which was fully accrued in audited financial statements for the year ended December 31, 2025, limiting new financial impact.

This development removes uncertainty around a significant regulatory matter but underscores prior compliance weaknesses and associated costs. Investors may focus on how the bank maintains compliance with the agreement’s conditions over its one-year term and on any future disclosures about enhancements to anti-money laundering controls.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Non-prosecution agreement term 1 year Agreement with DOJ and U.S. Attorney’s Office
Settlement payment $9.8 million Fully accrued in audited financials for year ended December 31, 2025
non-prosecution agreement regulatory
"have agreed to enter into a one-year non-prosecution agreement with the United States Department of Justice"
anti-money laundering controls regulatory
"investigation ... into, among other things, the Bank’s anti-money laundering controls"
statement of facts regulatory
"conduct described in the statement of facts attached to the agreement"
audited financial statements financial
"fully accrued in the Company’s audited financial statements for the year ended December 31, 2025"
Audited financial statements are a company's financial reports—like its income, expenses, assets and debts—that have been examined and verified by an independent accountant to confirm they are accurate and complete. For investors, an audit is like having a trusted mechanic inspect a used car: it increases confidence that the financial picture is reliable, reduces the risk of hidden problems, and supports better decisions about valuing or trusting the company.
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Understanding 8-K Material Events →
0001050441☐00010504412026-06-302026-06-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2026
 
EAGLE BANCORP, INC.
(Exact name of registrant as specified in its charter)
 
Maryland0-2592352-2061461
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
7500 Old Georgetown Road, 15th Floor
Bethesda, Maryland 20814
(Address of Principal Executive Offices) (Zip Code)
(301) 986-1800
(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueEGBNThe Nasdaq Stock Market LLC
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 8.01. Other Events.
On June 30, 2026, Eagle Bancorp, Inc. (the “Company”) announced that its wholly owned subsidiary EagleBank (the “Bank”) has reached a settlement of the previously disclosed investigation by the U.S. Attorney’s Office for the Middle District of Pennsylvania into, among other things, the Bank’s anti-money laundering controls and the Bank’s relationship with a former customer who pleaded guilty to a charge of bank fraud in 2020.
The Company and the Bank have agreed to enter into a one-year non-prosecution agreement with the United States Department of Justice, Criminal Division, Money Laundering, Narcotics and Forfeiture Section and the U.S. Attorney’s Office for the Middle District of Pennsylvania (the “Offices”), pursuant to which the Offices will not bring any criminal or civil case against the Company or the Bank for any conduct described in the statement of facts attached to the agreement, subject to the Company’s and the Bank’s compliance with the terms of the agreement. The Bank will pay approximately $9.8 million, which was fully accrued in the Company’s audited financial statements for the year ended December 31, 2025.

Item 9.01. Exhibits.
(d) Exhibits. 
Exhibit Number Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 EAGLE BANCORP INC.
   
  
Date: June 30, 2026By:/s/ Eric R. Newell       
  Eric R. Newell
  Executive Vice President, Chief Financial Officer

Source: View Original Filing on SEC EDGAR

FAQ

What did Eagle Bancorp (EGBN) announce regarding the DOJ investigation?

Eagle Bancorp announced that EagleBank has settled a previously disclosed investigation and agreed to a one-year non-prosecution agreement with the U.S. Department of Justice and the U.S. Attorney’s Office for the Middle District of Pennsylvania, resolving potential criminal and civil actions for specified conduct.

How much will EagleBank pay in the Eagle Bancorp (EGBN) settlement?

EagleBank will pay approximately $9.8 million as part of the settlement. This entire amount was already fully accrued in Eagle Bancorp’s audited financial statements for the year ended December 31, 2025, so it does not create an additional unexpected charge for that period.

What is the one-year non-prosecution agreement involving Eagle Bancorp (EGBN)?

The one-year non-prosecution agreement provides that the DOJ Criminal Division and the U.S. Attorney’s Office will not bring criminal or civil cases against Eagle Bancorp or EagleBank for the conduct described in the statement of facts, provided they comply with all terms during the one-year period.

What issues were examined in the Eagle Bancorp (EGBN) investigation?

The investigation by the U.S. Attorney’s Office for the Middle District of Pennsylvania focused on EagleBank’s anti-money laundering controls and its relationship with a former customer who pleaded guilty to bank fraud in 2020. These matters formed the basis of the settlement and non-prosecution agreement.

Does the Eagle Bancorp (EGBN) settlement mean new charges are being brought?

No. Under the settlement, the DOJ Criminal Division and the U.S. Attorney’s Office agreed they will not bring criminal or civil cases against Eagle Bancorp or EagleBank for the conduct described, as long as the institutions comply with the non-prosecution agreement’s terms over its one-year duration.

Filing Exhibits & Attachments

3 documents

Other Documents