Eagle Bancorp Inc - EGBN STOCK NEWS

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.

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.

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.

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.

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%.

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.

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.

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.

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.