Eagle Bancorp, Inc. Announces Subordinated Notes Offering
20 Juli 2016 - 11:32PM
Eagle Bancorp, Inc. (NASDAQ:EGBN) (the “Company”), the parent
company of EagleBank, Bethesda, Maryland (the “Bank”), today
announced that it had commenced a public offering of $75,000,000 of
its fixed-to-floating subordinated notes, due 2026.
The Company intends to use the net proceeds of
the offering for general corporate purposes, including but not
limited to contribution of capital to its subsidiaries, including
EagleBank, to support continued growth.
Sandler O’Neill + Partners, L.P. is acting as
book-running manager for the offering and Keefe, Bruyette &
Woods, A Stifel Company is acting as co-manager.
The subordinated notes will be offered and sold
pursuant to an effective shelf registration statement (File No.
333-202405), the base prospectus included in the registration
statement, a preliminary prospectus supplement relating to the
offering of the subordinated notes filed with the Securities and
Exchange Commission (the “SEC”), and a final prospectus supplement
to be filed with the SEC following the pricing of the issue, if
any. Before you invest, you should read the base prospectus in the
registration statement, the prospectus supplement relating to the
offering and other documents the Company has filed and will file
with the SEC for more complete information about the Company and
the offering. You may obtain copies of the preliminary prospectus
supplement and accompanying base prospectus relating to the
offering without charge by visiting the SEC’s website at
www.sec.gov, or from Sandler O'Neill + Partners, L.P. at Attention:
Syndicate, 1251 Avenue of the Americas, 6th Floor, New York, NY
10020, or by calling toll-free at (866)-805-4128, or by e-mail at
syndicate@sandleroneill.com, or from Keefe, Bruyette & Woods, A
Stifel Company, at 787 Seventh Avenue, Fourth Floor, New York, NY
10019, by e-mail at USCapitalMarkets@kbw.com, by fax at
212-581-1592, or by calling 1-800-966-1559.
This press release is for informational purposes
only and is not an offer to sell or the solicitation of an offer to
sell any security of the Company, which is made only by means of a
prospectus supplement and related base prospectus, nor will there
be any sale of any security in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The securities are
neither insured nor approved by the Federal Deposit Insurance
Corporation.
About Eagle Bancorp: 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 through
twenty offices, located in Montgomery County, Maryland, Washington,
D.C. and Northern Virginia. 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 Eagle’s operations and policies and regarding general
economic conditions. These forward-looking statements include, but
are not limited to, statements about Eagle’s plans, obligations,
expectations and intentions. 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 the beliefs of the management of
Eagle as to the expected outcome of future events, current and
anticipated economic conditions, nationally and in its market, and
their impact on the operations and assets of Eagle, 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. For details on factors that
could affect these expectations, see the risk factors and other
cautionary language included in the Company’s Annual Report on Form
10-K for the year ended December 31, 2015 and in other periodic and
current reports filed with the SEC. 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
such forward-looking statements. Past results are not necessarily
indicative of future performance. Eagle assumes no obligation to
revise, update, or clarify forward-looking statements to reflect
events or conditions after the date of this release.
CONTACT:
Michael T. Flynn
301.986.1800
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