EGBN Eagle Bancorp Inc

EagleBank Announces Expansion of Residential Mortgage Capabilities BETHESDA, Md., Dec. 11 /PRNewswire-FirstCall/ -- EagleBank has been on a fast track since it opened in July 1998 and anticipates growth in assets to reach close to $400 million by year-end. What the Bethesda-based business bank did not necessarily expect is that it would have a residential mortgage department that is clearly on the march as well. Richard D. Corrigan, Senior Vice President and Chief Real Estate Lending Officer, describes his department as finally being "all things real estate, residential and commercial", no small feat for a community bank clearly focused on the business sector of its market. "We want the residents of the Washington Metropolitan area to know that when it comes to types of residential mortgages available and rates, EagleBank can now compete with any bank," said Mr. Corrigan. "We have expanded our group of loan originators and support staff which will permit us to continue to respond quickly and efficiently to what is still a very healthy market for residential mortgages. And our continuing service to our customers cannot be matched." In addition to fixed rate and adjustable rate mortgages, conforming and jumbo mortgages, "full doc" and "no doc", EagleBank also offers "A Plus" mortgages for the most creditworthy customers as well as the "A Minus" loan. "We also want the community to know that EagleBank makes construction/permanent loans," Mr. Corrigan continued. "Not all banks offer this option for those consumers who want to build their own homes or make renovations to their existing homes. The EagleBank construction/perm loan rolls land purchase (for new home construction), construction, and permanent financing into one loan, saving time and money for the customer." EagleBank commenced operations in July 1998. The bank currently has five offices in Montgomery County, Maryland and one in Washington, D.C. A fifth Montgomery County branch office is anticipated to open by the end of the year. EagleBank specializes in delivering full relationship banking services to the business and professional community. DATASOURCE: EagleBank CONTACT: Thomas D. Murphy of EagleBank, +1-240-497-2042 Web site: http://www.eaglebankmd.com/

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