EagleBank | Jotup

EagleBank Provides Financing for Mundo Verde Bilingual Public Charter School

Retrieved on:

Thursday, February 2, 2023

Walter Reed, Language, Immersion, Acquisition, Student, Education, Empathy, District of Columbia International School, Sustainability, EagleBank, American Institute, EL, Education for sustainable development, Management, Tamiami Trail, NW

Mundo Verde fosters high academic achievement among a diverse group of students, preparing them to be successful and compassionate stewards of their communities. Mundo Verde is the first and only school in the District focusing on Education for Sustainability, a combination of bilingual education and project-based learning (EL Education). Mundo Verde, like existing EagleBank Client DC Bilingual, is a member of DC’s consortium of five premier dual language immersion charter school programs that matriculate to the DC International School at Walter Reed. The J.F. Cook campus facility was also the first charter school in DC and one of a few in the country with an LEED® Gold and Platinum certification -- and the only public charter school to receive the coveted American Institute of Architects Committee on The Environment Top Ten (COTE) award.

Key Points:

BETHESDA, Md., Feb. 02, 2023 (GLOBE NEWSWIRE) -- EagleBank, one of the largest community banks in the Washington, DC area, today announced it has provided up to $55 million in financing via Series 2022 District of Columbia Tax-Exempt Revenue Bonds to support Mundo Verde Bilingual Public Charter School (“Mundo Verde”) located at 30 P Street, NW.
Mundo Verde is the first and only school in the District focusing on Education for Sustainability, a combination of bilingual education and project-based learning (EL Education).
Mundo Verde, like existing EagleBank Client DC Bilingual, is a member of DC’s consortium of five premier dual language immersion charter school programs that matriculate to the DC International School at Walter Reed.
“Our team is proud to support the continuous growth of Mundo Verde Bilingual PCS,” said Lindsey Rheaume, Chief C&I Lending Officer at EagleBank.

EagleBank Provides Bridge Financing to Triangle Development Associates for Park Triangle Property

Retrieved on:

Wednesday, February 1, 2023

BETHESDA, Md., Feb. 01, 2023 (GLOBE NEWSWIRE) -- EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it has provided Triangle Development Associates, LLC (“TDA”) and Triangle Development Land Loan, LLC a $44 million loan for its Park Triangle property location.

Key Points:

BETHESDA, Md., Feb. 01, 2023 (GLOBE NEWSWIRE) -- EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it has provided Triangle Development Associates, LLC (“TDA”) and Triangle Development Land Loan, LLC a $44 million loan for its Park Triangle property location.
TDA delivered Park Triangle in 2006 after signing a 99-year ground lease with WMATA [TDA acquired the land in 2022].
Aaron Schooler of The Maven Group, a Bethesda based real estate development and management firm and principal owner of Park Triangle handled the transaction on behalf of Triangle Development Associates.
“As an environmentally and socially conscious developer, for over twenty years we have looked to EagleBank for flexible financing solutions to meet our CRE development pipeline and renewable energy initiatives and are excited to expand the relationship going forward.”

EagleBank Names New Chief Risk Officer

Retrieved on:

Monday, January 9, 2023

EagleBank, Retirement, Risk, Morgan Stanley, Indian Institute of Management Ahmedabad, History, FDIC, Patriot National Bancorp, MBA, FHL, Management

BETHESDA, Md., Jan. 09, 2023 (GLOBE NEWSWIRE) -- EagleBank, one of the largest community banks in the Washington, DC area, today announced the appointment of Jay Namputhiripad as Chief Risk Officer, replacing Jeff Curry after his retirement this month.

Key Points:

BETHESDA, Md., Jan. 09, 2023 (GLOBE NEWSWIRE) -- EagleBank, one of the largest community banks in the Washington, DC area, today announced the appointment of Jay Namputhiripad as Chief Risk Officer, replacing Jeff Curry after his retirement this month.
A 23-year veteran in the risk and compliance field, Namputhiripad will be responsible for overseeing EagleBank’s internal and external risk and compliance processes.
“We are delighted to welcome Jay to the EagleBank senior management team,” said Susan Riel, President and CEO of EagleBank.
Namputhiripad also previously served as the Head of Americas Branch Operations Risk at Morgan Stanley and Chief Risk Officer and Director – Compliance & Strategy at FHL Bank’s Office of Finance.

Eagle Bancorp Announces Earnings Call On January 19, 2023

Retrieved on:

Wednesday, January 4, 2023

EGBN, Interest, PIN, EagleBank, Risk, EST, Webcast

Those results will be released after the close of business on January 18, 2023.

Key Points:

Those results will be released after the close of business on January 18, 2023.
Interested parties will need to register at the below-noted URL in order to listen and participate in the call.
A replay of the call will be available on the Company’s website through February 2, 2023.
Except as required by law, the Company does not undertake to update forward-looking statements contained in this release.

Eagle Bancorp, Inc. Announces Cash Dividend and New Repurchase Program

Retrieved on:

Wednesday, December 14, 2022

Coronavirus, EagleBank, Bank, Risk, EGBN, Share repurchase, Uncertainty, Holding company

The cash dividend will be payable on January 31, 2023 to shareholders of record on January 5, 2023.

Key Points:

The cash dividend will be payable on January 31, 2023 to shareholders of record on January 5, 2023.
Additionally, the Board of Directors adopted a new share repurchase program to take effect starting January 1, 2023, after the expiration of the current repurchase program on December 31, 2022.
About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998.
Except as required by law, the Company does not undertake to update forward-looking statements contained in this release.

EagleBank Provides $50MM in Acquisition and Renovation Financing to Insight Property Group and AHC Inc.

Retrieved on:

Wednesday, November 30, 2022

Housing, Swimming, Partnership, Wiehle–Reston East station, Creativity, Reston Town Center, Senior, AHC, Assistant, Sale, AMI, EagleBank, Insight, Dulles International Airport, Investment, Acquisition, Management, Retail, D.C

Currently an estimated 70% of the units are at-or-below 60% of the Washington, DC-MD-VA Metropolitan Statistical Area Median Income (“AMI”) levels -- already in compliance with the affordable rent requirement which is 60% of units (155 units) designated at-or-below 60% of AMI and the other 40% of units (104) at-or-below 80% of AMI.

Key Points:

Every unit at the property includes private outdoor space, either a balcony or ground-floor terrace, and there is ample resident parking with 470 surface parking spaces.
The property is also adjacent to Lake Fairfax Park, a 476-acre nature preserve with trails, picnic areas, sports fields, and swimming & boating.
Insight Property Group, in partnership with AHC, is excited to preserve affordability at Haven Reston and expand that opportunity to the entire community over the next several years, said Trent Smith, Managing Principal at Insight.
EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 16 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia.

EagleBank Provides Bridge Financing to Lowe Team for Land Transaction with Howard University to Bring Mixed-Use Development to the Shaw Neighborhood of Washington, D.C.

Retrieved on:

Thursday, October 6, 2022

“As a top CRE lender in the DC market, EagleBank is proud to contribute to the development of one of the oldest DC neighborhoods – an enclave of businesses, theaters and rowhouses since the 19th-century -- alongside our trusted partners. Our CRE lending team has deep expertise and a unique understanding of the DC area, and the development of this property serves as an example of the flexible lending solutions we can offer,” said Ryan Riel, EVP and Chief Real Estate Lending Officer at EagleBank.

Key Points:

The Lowe plans to develop a 525,000-square-foot, 10-story building with up to 500 apartments, 27,000 square feet of ground floor retail space and 246 below grade parking.
Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm.
Lowe currently has more than $2 billion in commercial real estate projects in the pipeline or under development.
Presently, FLGA has more than $900 Million in commercial real estate projects in the pipeline or under development.

Eagle Bancorp Announces Earnings Call On October 20, 2022

Retrieved on:

Wednesday, October 5, 2022

Interest, EagleBank, SEC, Webcast, NASDAQ, Goal, Company, PIN, EGBN, Securities Exchange Act of 1934, EDT, GLOBE, Risk

Those results will be released after the close of business on October 19, 2022.

Key Points:

Those results will be released after the close of business on October 19, 2022.
Interested parties will need to register at the below-noted URL in order to listen and participate in the call.
A replay of the call will be available on the Companys website through November 3, 2022.
Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998.

Eagle Bancorp, Inc. Announces Cash Dividend

Retrieved on:

Tuesday, September 20, 2022

Bank, Securities Exchange Act of 1934, Risk, GLOBE, Company, SEC, Goal, EGBN, Uncertainty, EagleBank, Coronavirus, NASDAQ

BETHESDA, Md., Sept. 20, 2022 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the Company) (NASDAQ: EGBN), the parent company for EagleBank, today announced a cash dividend for the third quarter of 2022, in the amount of $0.45 per share.

Key Points:

BETHESDA, Md., Sept. 20, 2022 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the Company) (NASDAQ: EGBN), the parent company for EagleBank, today announced a cash dividend for the third quarter of 2022, in the amount of $0.45 per share.
The cash dividend will be payable on October 31, 2022 to shareholders of record on October 10, 2022.
About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998.
Except as required by law, the Company does not undertake to update forward-looking statements contained in this release.

SEC Charges Eagle Bancorp and Former CEO with Failing to Disclose Related Party Loans

Retrieved on:

Tuesday, August 16, 2022

Paul, SEC, Board, Security (finance), Compliance, EagleBank, Family, Proxy, Federal Reserve Bank, Trust, GAAP, Record, Annual report, Federal Reserve Board of Governors, Book, Bank, Eagle

The SECs order also finds that Eagle improperly omitted tens of millions of dollars of loans to Eagle directors and their family members from these related party loan balances.

Key Points:

The SECs order also finds that Eagle improperly omitted tens of millions of dollars of loans to Eagle directors and their family members from these related party loan balances.
Both SEC regulations and Generally Accepted Accounting Principles (GAAP) required Eagle to disclose these material related party transactions.
The SECs order also finds that, following a December 2017 short sellers report asserting Eagle had made significant undisclosed loans to Pauls family trusts, Eagle and Paul falsely stated in press releases, news articles, and meetings with investors that the trust loans were not related party loans and that Eagle was in compliance with all related party loan requirements.
Here, faced with a short sellers report alleging undisclosed related party loans by the bank, both Eagle and Paul failed to respond truthfully and accurately.