eagle bancorp inc (EGBN) Key Developments
Eagle Bancorp, Inc. Approves an Amendment to Articles of Incorporation
May 27 15
Eagle Bancorp, Inc. announced that at the annual general meeting held on May 21, 2015, shareholders of the company approved an amendment to the company's articles of incorporation increasing the number of authorized shares of common stock to 100,000,000.
Eagle Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015
Apr 22 15
Eagle Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net interest income of $54.731 million compared to $40.007 million a year ago. Total interest income was $59.465 million against $42.837 million a year ago. Income before income tax expense was $31.152 million compared to $19.438 million a year ago. Net income was $19.418 million compared to $12.499 million a year ago. Net income available to common shareholders was $19.238 million or $0.61 per diluted share against $12.358 million or $0.47 per diluted share a year ago. Book value per common share was $20.11 compared to $13.62 at March 31, 2014. Tangible book value per common share was $16.82 compared to $13.49 at March 31, 2014. Driven by revenue growth and improved operating leverage, the return on average assets increased for the quarter to 1.49% compared to 1.36% a year ago. Return on average common equity was 13.24% compared to 14.38% a year ago. Revenue growth was driven by 37% growth in net interest income as compared to the first quarter of 2014. The strong level of net interest income is the result of pricing discipline and ALCO strategies as well as the continued growth in earning assets, which increased 38% over the same quarter of 2014.
The company announced net charge-offs of $1.6 million in the first quarter of 2015 represented an annualized 0.15% of average loans, excluding loans held for sale, as compared to $837,000 or an annualized 0.11% of average loans, excluding loans held for sale, in the first quarter of 2014. Net charge-offs in the first quarter of 2015 were attributable primarily to commercial and industrial loans $947,000, home equity and other consumer $439,000, owner occupied-commercial real estate loans $317,000 offset by a recovery in land development and construction loans $95,000.
Eagle Bancorp, Inc. Proposes Amendment to the Articles of Incorporation
Apr 10 15
Eagle Bancorp, Inc. proposed to the AGM to be held on May 21, 2015, to approve an amendment to the company’s articles of incorporation to increase the number of authorized shares of common stock to 100,000,000.
Eagle Bancorp, Inc., Annual General Meeting, May 21, 2015
Apr 9 15
Eagle Bancorp, Inc., Annual General Meeting, May 21, 2015., at 10:00 US Eastern Standard Time. Location: The Bethesda Marriott Hotel. Agenda: To elect nine directors to serve until the 2016 annual meeting of shareholders and until their successors are duly elected and qualified; to consider and approve an amendment to the company’s articles of incorporation to increase the number of authorized shares of common stock to 100,000,000; to ratify the appointment of Stegman & Company as the company’s independent registered public accounting firm to audit the consolidated financial statements of the company for the year ended December 31, 2015; to vote on a non-binding advisory resolution approving the compensation of named executive officers; and to transact any other business that may properly come before the meeting or any adjournment or postponement of the meeting.
Eagle Bancorp, Inc. to Report Q1, 2015 Results on Apr 22, 2015
Apr 7 15
Eagle Bancorp, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Apr 22, 2015