Eagle Bancorp, Inc. Increases Loans by $100 Million in 4th Quarter of 2008 and Declares Dividend on US Treasury Preferred Stock
03 Februar 2009 - 11:15PM
PR Newswire (US)
BETHESDA, Md., Feb. 3 /PRNewswire-FirstCall/ -- Eagle Bancorp, Inc.
(the "Company") (NASDAQ:EGBN), the parent company of EagleBank,
today announced that is has declared a dividend of $371,279 on the
Preferred Stock issued to the US Treasury. The Treasury had
purchased $38.2 Million of Preferred Stock in December of 2008, as
part of the TARP Capital Purchase Program. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO ) The
Company also announced that it has effectively used the proceeds of
the preferred stock offering, as EagleBank has increased its
lending to businesses and consumers in the Washington metropolitan
area. The Bank accomplished a net increase in its loan portfolio of
$100 Million in the 4th Quarter of 2008, and has experienced
continued loan growth in 2009. Ronald D. Paul, Chairman, stated,
"Despite some recent, incorrect media reporting about EagleBank, we
have continued to deliver on our responsibility as a community
bank." Martha Foulon-Tonat, Chief Lending Officer said, "We are
very proud of the strong organic loan growth achieved by the bank
in 2008, particularly during the 4th Quarter, which was the one of
the strongest loan growth periods in our history. EagleBank will
continue extending loans to credit worthy customers in our markets,
and will continue to seek out and develop full banking
relationships during these stressful economic times." The Company
is the holding company for EagleBank which commenced operations in
1998. The Bank is headquartered in Bethesda, Maryland, and conducts
full service commercial banking services through thirteen offices,
located in Montgomery County, Maryland, Washington, D.C. and
Fairfax County, Virginia. A new office in Potomac, Maryland is
expected to open in the fourth quarter of 2009. The Company focuses
on building relationships with businesses, professionals and
individuals in its marketplace. Forward looking Statements: This
press release contains forward looking statements within the
meaning of the Securities and Exchange Act of 1934, as amended,
including statements of goals, intentions, and expectations as to
future trends, plans, events or results of Company operations and
policies and regarding general economic conditions. In some cases,
forward-looking statements can be identified by use of words such
as "may," "will," "anticipates," "believes," "expects," "plans,"
"estimates," "potential," "continue," "should," and similar words
or phrases. These statements are based upon current and anticipated
economic conditions, nationally and in the Company's market,
interest rates and interest rate policy, competitive factors and
other conditions which by their nature, are not susceptible to
accurate forecast and are subject to significant uncertainty.
Because of these uncertainties and the assumptions on which this
discussion and the forward-looking statements are based, actual
future operations and results in the future may differ materially
from those indicated herein. Readers are cautioned against placing
undue reliance on any such forward-looking statements. The
Company's past results are not necessarily indicative of future
performance. http://www.eaglebankcorp.com/
http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO
http://photoarchive.ap.org/ DATASOURCE: Eagle Bancorp, Inc.
CONTACT: Ronald D. Paul of Eagle Bancorp, Inc., +1-301-986-1800 Web
Site: http://www.eaglebankcorp.com/
Copyright
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
Von Okt 2023 bis Okt 2024