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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) reported Q4 2024 net income of $15.3 million ($0.50 per diluted share), down from $21.8 million ($0.72 per share) in Q3. The company announced a cash dividend of $0.165 per share, payable February 21, 2025.

Key highlights include:

  • Pre-provision net revenue decreased to $30.3 million from $35.2 million
  • Net interest margin declined to 2.29% from 2.37%
  • Nonperforming assets increased to $211.5 million (1.90% of total assets)
  • Total loans were $7.9 billion, down 0.4% from previous quarter
  • Total deposits increased by $590.2 million to $9.1 billion
  • Allowance for credit losses increased to 1.44% of total loans

The company fully repaid $1 billion of Bank Term Funding Program debt and maintains strong capital positions with common equity tier one capital at 14.6%.

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Eagle Bancorp (NASDAQ: EGBN) has announced the final results of its exchange offer for its 10.00% Senior Notes due 2029. The exchange offer, which expired on January 14, 2025, saw approximately 95% participation, with $73.5 million of the total $77.7 million outstanding principal amount being validly tendered.

The exchange will allow holders to receive new notes registered under the Securities Act of 1933, with substantially identical terms to the Original Notes, except for the removal of transfer restrictions and registration rights. The settlement date is expected to be January 16, 2025.

The exchange included $72.5 million (100%) of Rule 144A notes and $1 million (19.4%) of Accredited Investor notes being tendered. Wilmington Trust, National Association served as the Exchange Agent for the transaction.

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Eagle Bancorp (NASDAQ: EGBN) has extended its registered exchange offer for its 10.00% Senior Notes due 2029 until January 14, 2025, at 5:00 p.m. Eastern Time. The exchange offer allows holders to swap unregistered Original Notes for registered Exchange Notes of equal principal amount.

As of January 10, 2025, 100% ($72,500,000) of Rule 144A Original Notes and 19.4% ($1,000,000) of Accredited Investor Original Notes have been validly tendered. The settlement date is expected to be January 16, 2025.

The Exchange Notes will have identical terms to the Original Notes, except for the removal of transfer restrictions and registration rights. The exchange is being conducted under a prospectus filed with the SEC on December 3, 2024, with Wilmington Trust, National Association serving as Exchange Agent.

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EagleBank (NASDAQ: EGBN), a leading community bank in Washington, D.C., has strengthened its Commercial & Industrial (C&I) lending team with three key appointments. Bryan Pynchon joins as C&I Market Executive for Maryland, while Ian Joseph and Andrew Brkic join as Relationship Managers, effective January 6, 2025.

All three executives come from Capital One Bank's Mid-Atlantic Commercial Banking team, bringing significant experience in the DMV (DC, Maryland, Virginia) region. Pynchon served 14 years at Capital One, most recently as Section Manager. Joseph worked there for 8 years as Managing Director, while Brkic spent 11 years as Managing Director, Relationship Manager.

The appointments align with EagleBank's strategic focus on expanding its C&I portfolio, leveraging local decision-making and client-centric approach for growth in 2025.

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Eagle Bancorp (NASDAQ: EGBN) has announced its upcoming earnings call scheduled for January 23, 2025, at 10:00 a.m. (EST). The teleconference will feature CEO Susan Riel and CFO Eric Newell discussing the company's fourth quarter and year-end 2024 financial results.

The financial results will be released after market close on January 22, 2025. Participants must register to receive a dial-in number and unique PIN for call access. The event will also be available via webcast on EagleBankCorp.com, with a replay accessible through February 6, 2025.

Eagle Bancorp, based in Bethesda, Maryland, is the holding company for EagleBank, one of the largest community banks serving the Washington D.C. area.

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Eagle Bancorp (NASDAQ: EGBN) has announced an exchange offer for its outstanding unregistered 10.00% Senior Notes due 2029. The exchange will allow holders to swap their Original Notes for an equal amount of registered Exchange Notes. The Exchange Offer will expire on January 10, 2025, at 5:00 p.m. Eastern time, with settlement expected on January 14, 2025.

The Exchange Notes will have identical terms to the Original Notes, except for the removal of transfer restrictions and registration rights. Wilmington Trust, National Association is serving as the Exchange Agent. The exchange is being conducted through a prospectus filed with the SEC on December 3, 2024.

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Eagle Bancorp (NASDAQ: EGBN) has announced its participation in the upcoming Jefferies Bank Summit on December 9, 2024. The Bethesda-based holding company's President and CEO Susan G. Riel, along with CFO Eric R. Newell, will engage in meetings with institutional investors during the summit. The company has made management discussion materials available on their investor relations website for reference.

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EagleBank announced the relocation of its headquarters to 7500 Old Georgetown Road in downtown Bethesda, Maryland, scheduled for late 2025. The move will consolidate current offices in Bethesda and Rockville, creating a collaborative environment. The relocation aligns with Bethesda's growing office market, which has attracted $819.38 million in venture capital and private equity investments and received over $38B in total investments across all industries since 2019. The bank will maintain its presence in Virginia, DC, and other Maryland locations.

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Eagle Bancorp (NASDAQ: EGBN) has announced its participation in the Piper Sandler East Coast Financial Services Conference scheduled for November 13-15, 2024. President and CEO Susan G. Riel, along with CFO Eric R. Newell, will attend the conference 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 available on their investor relations website.

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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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FAQ

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

The current stock price of Eagle Bancorp (EGBN) is $26.28 as of February 4, 2025.

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

The market cap of Eagle Bancorp (EGBN) is approximately 772.3M.

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

772.27M
29.18M
3.31%
77.29%
5.37%
Banks - Regional
State Commercial Banks
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United States of America
BETHESDA