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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 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.

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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.

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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%.

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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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Eagle Bancorp, Inc. (NASDAQ: EGBN) announced a cash dividend of $0.35 per share for the second quarter of 2021, marking a $0.10 increase from the previous quarter's $0.25. This dividend will be payable on August 2, 2021, to shareholders on record by July 22, 2021. The company continues to focus on building relationships within its marketplace while operating 19 branches across Suburban Maryland, Washington, D.C., and Northern Virginia.

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Felice Development Group and Fields-Grade Development have acquired 2.9 acres along the Anacostia Riverfront in Washington, D.C., with plans to create a mixed-use project of 900 multifamily units and 45,000 square feet of retail space. The project is set to enhance the Capitol Riverfront area, featuring outdoor amenities and green space. EagleBank provides acquisition financing, reflecting its commitment to local growth. Construction is expected to commence in Q4 2022, promising a vibrant addition to the neighborhood.

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EagleBank has granted $81.2 million in fixed-rate acquisition financing for an affordable housing project in downtown Bethesda, MD, managed by Bradley Crossing LLC and the Housing Opportunities Commission of Montgomery County (HOC). The loan supports the acquisition and renovation of approximately 401 multifamily units across five land parcels. HOC aims to convert 30% of these units to 80% local area median income (AMI) and an additional 20% to 50% AMI over the next two to three years. This initiative is vital amid the current housing affordability crisis.

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FAQ

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

The current stock price of Eagle Bancorp (EGBN) is $26.71 as of December 20, 2024.

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

The market cap of Eagle Bancorp (EGBN) is approximately 811.2M.

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

811.21M
29.18M
3.33%
77.25%
5.81%
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