07
007 A N N UA L R E P O R T
V I S I O N
E X P A N D I N G . E V O L V I N G . E V E R Y D A Y
STOCK PERFORMANCE COMPARISON
Stock Price Performance. The following table compares the cumulative total return on a hypothetical investment
of $100 in the Company’s common stock on December 31, 1998 through December 31, 2007, with the
hypothetical cumulative total return on the NASDAQ Composite Index (U.S. Companies) and the NASDAQ Bank
Index for the comparable period, including reinvestment of dividends.
550%
500%
450%
400%
350%
300%
250%
200%
150%
100%
50%
12/31/98
12/31/99
12/29/00
12/31/01
12/31/02
12/31/03
12/31/04
12/30/05
12/29/06
12/31/07
Eagle Bancorp, Inc.
NASDAQ Bank Index
NASDAQ Composite Index - US Companies
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Eagle Bancorp, Inc.
NASDAQ Composite Index
NASDAQ Bank Index
100
100
100
102
186
94
102
113
111
172
90
124
232
62
133
300
93
176
348
101
200
517
103
196
512
114
223
362
126
179
Assuming $100 was invested on December 31, 1998
To Our Shareholders
The year 2007 was a challenging one for the American economy, and in particular
the banking and financial services industry, as falling interest rates led to decreased
margins and impacted profit levels. However, it was fallout from the sub-prime
mortgage situation that caused the greatest concern and adversely impacted the
market values of most bank stocks. We are pleased to report that EagleBank has
never been involved in any aspect of the sub-prime mortgage business. The Bank
has never participated in this area either through originations or its investment
portfolio.
However, the general economic and interest rate environment did lead to a slight
decline in profits, at $7.7 million, as compared to the previous year of $8.0 million.
We are pleased that on a comparative basis we performed better than many of our
peers on both a local and national level. While in part due to our limited exposure to
the mortgage markets, we continue our strong performance in many key areas. Our
asset quality remains high with non-performing assets at only .63% of total assets.
We have maintained a superior net interest margin of 4.37%. This represents a
decrease of only 44 basis points despite successive drops in interest rates, totaling
1.00% initiated by the Federal Reserve during the year. We continued our pattern
of growth in our loan portfolio while maintaining underwriting standards. The Bank
enjoyed a healthy 21% growth rate in the commercial loan portfolio during the
year, and while the demand for real estate loans has softened, the turmoil in both
primary and secondary markets has created opportunities for improved margins in
that area. Non-interest income increased 35% over the prior year. We are pleased
to note that a major transaction in our subordinated lending area contributed
$1.2 million to that increase. This was from a multi-year transaction which was
successfully concluded in 2007.
Your directors and management team continue their total
Financial Corporation. We are extremely pleased to have
commitment to superior service and first rate financial
the opportunity to join with such a quality organization, with
products. We combine that with the use of state of the art
the merger expected to be effective in mid-year of 2008.
technology, both for the convenience of our customers and
The transaction is expected to increase our size to over
to improve the efficiency of our internal processes. As an
$1.2 billion in total assets. It will also substantially increase
example, EagleBank has over 250 customers using our
our branch network, including entry into the active Northern
Remote Deposit service, which was introduced in mid-2006.
Virginia market. Therefore, we expect the merger to provide
Our strategy and delivery of dedicated service have helped us
some efficiencies and revenue growth opportunities. Perhaps
exceed $840 million in assets and over $80 million in capital.
more importantly, we will gain much expertise and talent from
As we prepare to celebrate our tenth anniversary, we are
Fidelity’s dynamic management and officer team.
proud of our success in both growth and profitability. We are
While many aspects of the economic outlook for 2008
equally proud of the recognition EagleBank has received for
are still unclear, we are upbeat about the prospects for
its outstanding customer relations and community service.
EagleBank. The greater Washington, DC metropolitan area
We were recently named as one of only two banks to receive
still has among the strongest demographics of any market in
a 100% rating for “overall performance” by Washington
the US. The region continues to foster growth in employment
Consumer Checkbook magazine. Through the proceeds of
which drives the general economy. We are strengthening
its annual golf tournament, the EagleBank Foundation, in only
our lending capabilities, our array of products and services
its third year, distributed over $100 thousand to four local
and our branch network. At the same time we foster those
hospitals for breast cancer treatment and awareness. The
characteristics which make us unique and successful,
Bank and our employees contribute both funds and countless
including our strong Board and our community focus.
hours to various community organizations, including Habitat
This is demonstrated by our local decision making process
for Humanity, The Columbia Lighthouse for the Blind, and The
and providing access to senior management to all of our
Special Olympics, just to name a few.
customers.
To complement our existing franchise, in December we
We thank you for your continued support. Eagle Bancorp, Inc.
announced the proposed merger with Fidelity & Trust
is entering the year 2008 stronger and more confident than ever.
Leonard L. Abel
Chairman, Eagle Bancorp, Inc.
On a personal note, this will be my last message to you
as Chairman of the Board, a position I have held, thanks
to all of you, since the inception of the Company. I hope
to continue to serve as a Director. The welfare of our
stockholders will continue to be my utmost concern. I am
deeply grateful for your past support.
Ronald D. Paul
President and CEO, Eagle Bancorp, Inc.
Chairman and CEO, EagleBank
5-Year
Compound
Growth Rate
19%
32%
25%
18%
22%
33%
26%
22%
28%
36%
24%
14%
24%
20%
24%
23%
22%
24%
SIX-YEAR SUMMARY OF SELECTED FINANCIAL DATA
The following table shows selected historical consolidated financial data for Eagle Bancorp (“the Company”). It should be read in
conjunction with the Company’s audited consolidated financial statements appearing elsewhere in this report.
(dollars in thousands except per-share data)
2007
2006
2005
2004
2003
2002
YEAR ENDED DECEMBER 31,
Selected Balances - Period End
Total assets
Total stockholders’ equity
Total loans
Total deposits
$846,400
81,166
716,677
630,936
$773,451
72,916
625,773
628,515
$672,252
64,964
549,212
568,893
$553,453
58,534
415,509
462,287
$442,997
53,012
317,533
335,514
$347,829
20,028
236,860
278,434
Selected Balances - Averages
Total assets
Total stockholders’ equity
Total loans
Total deposits
$800,437
76,760
659,204
634,332
$712,297
68,973
575,854
585,621
$610,245
61,563
479,311
512,416
$487,853
55,507
353,537
397,788
$375,802
34,028
266,811
292,953
$292,921
18,381
210,303
237,910
Results of Operations
Interest income
Interest expense
Net interest income
Provision for credit losses
Net interest income after provision
for credit losses
Noninterest income
Noninterest expense
Income before taxes
Income tax expense
Net income
Dividends declared
Per Share Data (1)
Net income, basic
Net income, diluted
Book value
Dividends declared per share
Dividend payout ratio (2)
Financial Ratios
Return on average assets
Return on average equity
Average equity to average assets
Net interest margin
Efficiency ratio (3)
Non-performing assets
to total assets
Net charge-offs to
average loans
$57,077
23,729
33,348
1,643
$50,318
17,880
32,438
1,745
$36,726
8,008
28,718
1,843
$24,195
4,328
19,867
675
$18,403
3,953
14,450
1,175
$16,661
5,170
11,491
843
31,705
5,186
24,921
11,970
4,269
7,701
2,302
$0.80
0.78
8.35
0.24
29.89%
0.96%
10.03%
9.59%
4.37%
64.67%
30,693
3,846
21,824
12,715
4,690
8,025
2,147
$0.85
0.81
7.69
0.23
27.06%
1.13%
11.63%
9.68%
4.81%
60.15%
26,875
3,998
18,960
11,913
4,369
7,544
1,994
$0.82
0.77
6.95
0.22
26.83%
1.24%
12.25%
10.09%
4.99%
57.95%
19,192
3,753
14,952
7,993
2,906
5,087
13,275
2,850
11,007
5,118
1,903
3,215
10,648
2,107
8,530
4,225
1,558
2,667
-
-
-
-
$0.56
0.53
6.38
-
-
$0.49
0.46
5.85
-
-
$0.54
0.51
4.09
-
-
8%
9%
15%
-
-
1.04%
9.16%
11.38%
4.35%
63.30%
0.86%
9.45%
9.05%
4.14%
63.62%
0.91%
14.51%
6.28%
4.16%
62.73%
0.63%
0.26%
0.07%
0.03%
0.15%
0.28%
0.15%
0.06%
0.02%
0.03%
0.10%
0.09%
(1) Presented giving retroactive effect to stock splits in the form of 30% stock dividends paid on July 5, 2006 and February 28, 2005
(2) Computed by dividing dividends declared per share by net income per share
(3) Computed by dividing noninterest expense by the sum of net interest income and noninterest income
0
“ E X P E R I E N C E A W E E K I N E A G L E B A N K ’ S W O R L D ”
Expanding our Vision in the Year 2007
The bold vision that inspired the founding of EagleBank in 1998 is very much alive today.
It has evolved and expanded. However, even as we develop and change, it is still the same
vision of superior service, local accessibility, and corporate citizenship that is critical to our
success. We have grown to become the area’s leading community bank with the ability to
compete with larger, national institutions in terms of our expertise, products, and services.
As we evolve every day, we dedicate our entrepreneurial spirit, focus, and flexibility to
creating custom solutions to meet our customers’ banking needs.
In 2007, EagleBank’s vision saw a continued trend
lengthened the time for wire transfers in order to
of long-term growth. Solid financial results include
facilitate same day settlement needs. In just over
total assets of $846 million, an increase of 9%
one year, since we introduced our Remote Deposit
over 2006. Total loans grew 15%, while equity
service, more than 250 EagleBank customers now
increased 11%.
Our asset quality, coupled with a net interest
margin that outperformed our competitors,
reflects EagleBank’s financial strength during
enjoy the convenience of banking from their office.
While we remain committed to being a business
bank, we also developed a special package of
retail services, such as preferred rates on money
market accounts, to offer to our shareholders and
challenging economic times and a difficult interest
business owners.
rate environment. Our vision of community banking
expanded in 2007 to allow us to grow with
our customers, but even as we add products,
people, and services, we never lose sight of
the importance of building relationships as we
build value.
Whether we are finding new ways to serve our
customers or enhancing our existing products and
services, every day presents an opportunity for
EagleBank to expand our vision and strengthen
our focus. Experience a week in EagleBank’s world
and see that even as we grow, change, and
To make our nine branches in the Washington area
improve, our focus is where it was and always will
even more convenient for our customers, in 2007
be . . . on our customers, shareholders, and
we extended our branch banking hours. We also
community.
0
M O N D A Y
“
Coffee in hand,
EagleBank
employees begin
By 8:30 AM, tellers are cashing checks, taking deposits, and smiling as they
welcome new and old friends. Focusing on customers’ needs as we grow, in 2007,
EagleBank offers extended branch banking hours from 8:30 AM until 4 PM,
Monday through Thursday. As always, branches are open from 8:30 AM until
the week with focus
5 PM on Friday. For added convenience, the Silver Spring Office now has a drive-in
and dedication.
”
window, open weekdays.
While the branches are bustling, emails alert customers about an attractive
Certificate of Deposit rate. In 2007, EagleBank launches email marketing to inform
customers of special rate promotions, new products and services, and important
educational topics, such as protecting against identity theft.
Even on a holiday, EagleBank works for the community. On Columbus Day,
Monday, October 8, 2007, the third annual EagleBank Foundation Fight Breast
Cancer Golf Classic is held at Woodmont Country Club in Rockville. EagleBank
joins forces with over twenty community sponsors to again raise over $100,000
to benefit local facilities’ efforts to fight breast cancer. The EagleBank Foundation
positions us as a leader among our peers in our focus on corporate citizenship.
0
T U E S D A Y
EagleBank’s Tech Road Operations
data, account numbers, or other
It is the second Tuesday of the month,
Center in Silver Spring is thoroughly
sensitive information.
and EagleBank’s Management
engaged in processing a busy Monday’s
transactions. Every day, our behind-the-
scenes teams use the latest technology
to turn custom solutions into working
financial products and services.
To ensure absolute security for our
customers, in 2007, a new state-of-the-
art MailSafe system is implemented to
safeguard emails containing financial
Today is the day that EagleBank’s
Senior Staff meets weekly to review
bank performance and discuss new
initiatives. Collectively, they represent
in excess of 125 years of banking and
financial experience. Their enthusiasm,
energy, and passion are the driving
force behind EagleBank’s expanding
vision of community banking.
Advisory Committee (MAC) holds
their own meeting to review and
resolve issues that impact employees
and improve the Bank’s efficiency.
Composed of middle management from
every key department, MAC advises
senior bank officials and keeps the lines
of communication open within the Bank.
0
W E D N E S D A Y
“
We use the latest technology
to turn custom solutions into
working financial products and
services.
”
In the middle of the week, and every day, more customers
in 2007 benefit from EagleBank’s Remote Deposit service
where they use a desktop scanner to make deposits from
their office. Deposits go to the bank instantly and can be
made weekdays until 6 PM. As the area’s leading community
bank, this service extends our reach and helps us serve
more customers.
As we grow and expand, it is more important than ever to
focus on customer service. This commitment is reflected
in today’s training session that is part of a bank-wide effort
to reinforce EagleBank’s written Standards of Customer
Service. These service standards are based on feedback
received from employees at all levels, and, of course, our
customers.
It is a Wednesday evening in January, and EagleBank officers
are meeting with the Bank’s Healthcare Advisory Board. This
group of physicians, dentists, and companies who support
the medical community, meet with bank officials to discuss
industry trends and to advise us on the products and services
they need to make their banking easier. Our goal is to enable
them to focus on what they do best – improve the quality of
life of their patients.
0
T H U R S D A Y
As our vision evolves, EagleBank
competes with much larger banks
in terms of expertise, resources,
and market knowledge. Today, an
experienced commercial real estate
lender meets with two developers
to creatively structure financing to
achieve their company’s long-term
goals. EagleBank remains committed to
making commercial real estate loans.
It is New Employee Orientation
Day at the Bank, where we welcome
employees and educate them on
our history, organization, and values.
EagleBank’s Chairman, Ron Paul,
always joins the new employees for
lunch, answers their questions, and
shares the Bank’s philosophy of caring,
responsive, customer service.
Product development is an ongoing
focus at EagleBank. This Thursday,
we are refining the Golden Eagle
Relationship Account, the first retail
package of services being marketed to
customers who are business owners
and top management. It will also be
offered to shareholders and includes
such benefits as preferred rates on
Certificates of Deposit and money
market accounts, and specially priced
lines of credit.
0
F R I D A Y
“
Local decision-
makers provide
quick, workable
solutions to our
clients’ business
banking needs.
”
Friday, we expedite a Commercial Term Loan and Line of Credit for a software
company executive. At EagleBank, our commercial loan demand remains robust, in
no small part due to the guarantee of access to local decision-makers who provide
quick, workable solutions to their clients’ business banking needs.
To support businesses in our region, EagleBank is the main sponsor for the
Start Right! Business Competition for Women Entrepreneurs, coordinated
by Rockville Economic Development, Inc. (REDI). For the second year in a row,
EagleBank donates the top prize of $10,000 in an award ceremony on Friday, March
16, 2007. The recipient, a woman owner of a medical device company, subsequently
becomes a Bank customer.
At 5 PM today, a settlement company takes advantage of EagleBank’s extended
hours to make an end-of-the week wire transfer. The customer can call our
Wire Department directly, using a secure PIN for identification. For even greater
convenience, ExecuBank, our online banking system, allows complete independence
in the transfer of wired funds.
10
S A T U R D A Y
It is Saturday morning, and an
Two of EagleBank’s branch locations
Bank employees work for Habitat
EagleBank Business Development
offer the convenience of Saturday
for Humanity to assist a needy
Officer makes a special appointment to
banking hours. The Chevy Chase
Montgomery County family with their
meet a retail client that afternoon at his
branch lobby serves customers from
home building efforts. In 2007, and
place of business. The retailer, owner of
9 AM until Noon. Early-risers can take
every year, EagleBank supports the
two upscale bath and kitchen hardware
advantage of the Drive-Up at Shady
worthwhile causes of organizations such
stores, appreciates and shares
Grove, which is open from 8:30 AM
as Community Ministries of Montgomery
EagleBank’s focus on personal service.
until Noon.
At EagleBank, we go the extra mile for
our customers, including arranging our
schedule to meet their needs.
EagleBank employees often devote
time during weekends for community
activities. On Saturday, March 3rd,
County, Cystic Fibrosis, and The
Children’s Inn of NIH, to name a few.
11
S U N D A Y
“
At EagleBank, we
go the extra mile
for our customers,
including arranging
our schedule to meet
their needs.
”
Sunday, and every day, EagleBank customers use our website to access their
accounts for online banking and to learn more about our products and services.
EagleBank’s online banking is available 24/7. Customers can also pick up their
phone anytime to use our convenient Telebank service for account information,
current rates, and branch locations, hours, and telephone numbers.
Leaving on a trip today, a customer uses her EagleBank ATM card at one of the
1,000 Allpoint Network ATM’s in the Washington, DC area. When she’s traveling,
she can also use her card at over 32,000 Allpoint ATM’s nationwide. The Allpoint
Network gives EagleBank customers access to their funds no matter where they are
or where they go.
Sunday is the perfect time for EagleBank customers to relax and read about their
Bank in the Fall 2007/Winter 2008 Washington Consumers’ CHECKBOOK
magazine. They are pleased to read what they already know — EagleBank is rated
one of the area’s top banks for customer service, receiving a 100% rating for
“Overall Performance.”
12
In 2008, EagleBank’s vision will be even more expansive.
We will celebrate the tenth anniversary of serving our customers, shareholders, and community. We will also offer a shared
vision of financial strength and local accessibility, as well as service in Northern Virginia, with the pending merger of Fidelity
& Trust Bank into EagleBank. By joining two of the fastest growing community banks in the Washington, DC region, EagleBank
has the ability to offer more products, locations, and people to provide personalized financial solutions. We move forward into
our next decade of service with confidence and increased capabilities.
The newly renovated Bethesda Theater in
the heart of downtown Bethesda is the
backdrop for this year’s photo of the EagleBank
Board of Directors.
1
BOARD OF DIRECTORS
Leonard L. Abel *
Chairman of Eagle Bancorp, Inc.
Bruce H. Lee
President of Lee Development Group; General Manager of
Until retiring in 1993, Mr. Abel was partner-in-charge of the
Acorn Self-Storage; General Partner of Montgomery 1936
certified public accounting firm of Kershenbaum, Abel, Kernus
Land Company, LLC; and Principal Broker of Montgomery Land
and Wychulis, Rockville, Maryland.
Company, LLC.
Ronald D. Paul *
Philip N. Margolius *
President and CEO, Eagle Bancorp, Inc.
Partner in the Margolius Law Firm, and managing member
Chairman and CEO, EagleBank
of The Margolius Firm, LLC, a consulting firm.
President of Ronald D. Paul Companies and RDP Management.
Chairman of Bethesda Investments, Inc., a private venture
Thomas D. Murphy
capital fund.
President, EagleBank – Montgomery County
Leslie M. Alperstein, Ph.D. **
President of Washington Analysis Corporation, a leading
governmental policy institutional investment research
brokerage firm.
Arthur H. Blitz
Kim Natovitz
President of The Natovitz Group, Inc., an independent life and
health insurance agency.
Don R. Rogers *
Partner in the law firm of Shulman, Rogers, Gandal, Pordy
Principal in the Bethesda law firm of Paley, Rothman, Goldstein,
& Ecker, P.A.
Rosenberg, Eig & Cooper, Chartered.
Dudley C. Dworken *
Owner of Curtis Chevrolet, an automobile dealer in Washington,
DC; Chairman of the Washington Area Better Business Bureau;
Managing Partner, JDJ Investments.
Steven L. Fanaroff
Vice President and Chief Financial Officer of Magruder Holdings,
James A. Soltesz, P.E.
President and Chief Executive Officer of Loiederman Soltesz
Associates, Inc., a professional services firm specializing in civil
engineering, land planning, surveying and environmental services.
Benjamin M. Soto, Esq.
President and CEO of Paramount Title & Escrow, LLC, a high-
volume, full service title company licensed in Washington, D.C.,
Inc., a regional supermarket chain.
Michael T. Flynn *
President, EagleBank – Washington
Executive Vice President and COO, Eagle Bancorp, Inc.
Harvey M. Goodman *
President of Goodman-Gable-Gould/Adjusters International,
a Maryland-based public insurance adjusting firm.
Neal R. Gross
Maryland and Virginia.
Worthington H. Talcott, Jr.
Partner in the law firm of Shulman, Rogers, Gandal, Pordy
& Ecker, P.A.
Leland M. Weinstein *
President of Syscom Services, Inc., a technology consulting firm
that specializes in providing federal and state agencies as well as
Fortune 1000 businesses with technology products and services
that help streamline communications and operations.
Chairman and Chief Executive Officer of Neal R. Gross &
Company, Inc., a Washington, DC-based court reporting service.
Eric H. West
Benson Klein
Founding principal of West, Lane & Schlager Realty Advisors,
LLC, specializing in tenant representation and strategic real estate
Principal of Maryland-based law firm Ward & Klein, Chartered.
consulting.
* Director of EagleBank and Eagle Bancorp, Inc. ** Director Eagle Bancorp, Inc. only
1
EAGLEBANK MISSION STATEMENT
EagleBank is committed to providing quality financial services and successful solutions
that consistently achieve a high degree of customer satisfaction. We will distinguish our
company from other institutions in our ability to provide superior service while creating
stockholder value, building our community, and encouraging the growth and well-being
of our people. We are dedicated to being the leading community bank in our market,
recognized and respected for our banking knowledge, customer service, business ethics,
and corporate citizenship.
EXECUTIvE OFFICERS
Ronald D. Paul
Chairman/CEO
Martha Foulon-Tonat
EVP/Chief Lending Officer
Michael T. Flynn
President/EagleBank – Washington
James H. Langmead
EVP/Chief Financial Officer
Thomas D. Murphy
President/EagleBank –
Susan G. Riel
EVP/Chief Operating Officer
Montgomery County
DC ADvISORY BOARD
Kim Natovitz, Chair
The Natovitz Group, Inc.
Jeffrey Pargament, Esq.
Pargament & Hallowell, PLLC
Chris Busky
Jill Cornish
Sabine Curto
Joseph Kapp
Larry La
Heart Rhythm Society
Preston Sacks, M.D.
Columbia Fertility Associates
Association Trends
Earl Segal, Esq.
Newmark Knight Frank
Cole, Raywid & Braverman, LLP
Howard Slavit, Esq.
Saul Ewing, LLP
Lincoln Financial Advisors
Yeni Wong
Riverdale International, Inc.
Meiwah Restaurant
HEALTHCARE ADvISORY BOARD
Benson Klein, Chair
Ward & Klein, Chartered
Alan Levine, D.D.S.
Private Dental Practice
Mark Birns, M.D.
Birns, Gloger & Witten, MD P.C.
Sharon Ann Peters, CPA
Peters, Kearney & Associates, P.A.
Bruce Bortnick, M.D.
Shady Grove Radiological
David Pinsky, D.D.S.
State of the Art Dental Group
Consultants
Larry Walker
The Walker Group
Daniel Esposito, M.D.
Internal Medicine Center, P.A.
Michael Weber, D.D.S.
Endodontic Associates of Greater
Joanne Genevish, RN, MBA Montgomery General Hospital
Washington
Jay Greenstein
Sport and Spine Rehab
Jeffrey Weintraub, CPA
Goodman & Company
1
OFFICERS
Richard D. Corrigan
President/Eagle Commercial
Ventures, LLC
John A. Beck, Jr.
SVP/SBA Team Leader
Lawrence J. Bolton
SVP/Business Development Officer,
Silver Spring
Deborah L. Colliton
SVP/Business Development Officer,
Bethesda
Robert R. Hoffmann
SVP/Senior Commercial Lender
Deborah C. Kahley
SVP/Senior Marketing and
Customer Service Officer
Susan O. Kooker
SVP/Director of Internal Audit
Linda M. Lacy
SVP/Information Technology
Manager
R. Frederick Marsden
SVP/Senior Consumer Lender
Stephen I. Greene
VP/Residential Lending Manager
Joanie M. Heavey
VP/Human Resources Director
Timothy D. Hamilton
VP/Commercial Lender
Kai M. Hills
VP/Business Development Officer,
Bethesda
Michael G. Himmel
VP/Commercial Lender
Stephanie W. Ho
VP/SBA Lender
Malcolm S. Karl, CAE
VP/Non-Profit Specialist
Deborah J. Keller
VP/Business Development Officer,
Silver Spring
Susan M. Lewis
VP/Branch Administration Manager
Matthew B. Leydig
VP/Commercial Real Estate Lender
Thomas A. Mee
SVP/Senior Real Estate Lender
Ivy Lim-Jui
VP/Controller
Joan Y. S. Pawloski
SVP/Loan Administration Manager
Ludwell L. Miller III
VP/Compliance Director
Janice L. Williams
SVP/Chief Credit Officer
Sean K. Mitchell
VP/Commercial Lender, D.C.
Allan L. Acree
VP/Commercial Real Estate Lender
James R. Newman
VP/Credit Department Manager
Ernest T. Argleben, Jr.
VP/SBA Lender
John A. Bettini
VP/Commercial Lender
Nicholas J. Pittas
VP/Commercial Lender
Rob D. Powell
VP/Commercial Lender, D.C.
Paul C. Boudrye
VP/Business Development Officer
Ryan A. Riel
VP/Commercial Real Estate Lender
Andrew S. Bridge
VP/Business Development Officer,
Rockville
Judy L. Callaway
VP/Deposit Operations Manager
Linda A. Dawkins
VP/Business Development Officer,
Shady Grove
Michael L. Devito
VP/SBA Lender
P. Lucas Flynn
VP/Credit Analyst
Kenneth S. Scales
VP/Commercial Lender
Frederick L. Schultz
VP/SBA Lender
Janette S. Shaw
VP/Marketing and Advertising
Manager
Jenny A. Shtipelman
VP/Business Development Officer,
K Street
Deborah C. Shumaker
VP/Business Development Sales
Manager
Garry K. Tyran
VP/Business Development Officer,
Chevy Chase
James R. Walker
VP/Commercial Real Estate Lender
Robert C. Cortez
Residential Mortgage Officer
Shari Craig
Senior Portfolio Management
Officer
Yeshiwatshay M. Eldridge
Check Exceptions Supervisor/
Officer
Jane N. Willis
VP/Credit Analyst
Christine Andrukitis
AVP/Consumer Loan Officer
Michele Capone
AVP/Workout, Liquidation and
Recovery Manager
Terry L. Clarke
AVP/Project Manager
Sharon A. Gray
AVP/Loan Operations Manager
Earl Franklin
Branch Manager/Officer,
McPherson Square
Olga Jean-Claude
Assistant Branch Manager/Officer,
Silver Spring
Glenn M. Johnson
Electronic Applications Manager/
Officer
vernon L. Kelley
Business Development Officer,
McPherson Square
Yulissa Guerra-Reyes
AVP/Branch Manager, Bethesda
Patrick McCalley
Senior Residential Mortgage Officer
Chia-Shan Ho
AVP/Credit Analyst
Linda S. Licata
AVP/Branch Manager, Dupont
Circle
Courtney W. Michel
AVP/Human Resources Officer
Barbara I. Millard
AVP/Branch Manager, Silver Spring
Mardi S. Novik
AVP/Branch Manager, Shady Grove
Alexis Santin
AVP/Branch Manager, K Street
Dana M. Thomas
AVP/Training Officer
Marlyn Newton
Asst. Corporate Secretary
Zandra D. Nichols
Corporate Secretary/Officer
Stephen J. Reyda
Audit Officer
Ann-Marie Z. Robinson
Branch Manager/Officer, Rockville
Lynne K. Shaer
Assistant Controller/Officer
Starla T. Shambourger
Construction Loan Administration
Officer
Harvey L. Spicer III
Residential Mortgage Officer
Christie Washington
AVP/Senior Portfolio Management
Officer
Marshelle R. Taylor
Compliance Officer
Teresa v. Trinh
Portfolio Monitoring Specialist/
Officer
David I. viertels
Residential Mortgage Officer
David W. Wilhelm
Residential Mortgage Officer
Carolyn Arndt
Branch Manager/Officer,
Rockville Pike
Michael S. Betton
Audit Officer
Carole v. Bousum
Audit Officer
Nancy N. Bravo, AAP
Deposit Operations Supervisor/
Officer
1
CORPORATE INFORMATION
Annual Meeting
Annual Meeting
Bethesda Marriott
5151 Pooks Hill Road
Bethesda, MD 20814
Thursday, May 22, 2008, at 10:00 a.m.
Corporate Headquarters
7815 Woodmont Avenue
Bethesda, MD 20814
301-986-1800
Investor Relations
James H. Langmead
Form 10-K
SVP and Chief Financial Officer
The Company’s Form 10-K
Eagle Bancorp, Inc.
may be obtained, free of charge,
7815 Woodmont Avenue
by contacting:
Zandra D. Nichols
Corporate Secretary
EagleBank
7815 Woodmont Avenue
Bethesda, MD 20814
240-497-2041
znichols@eaglebankmd.com
www.eaglebankmd.com
Bethesda, MD 20814
240-497-1678
jlangmead@eaglebankmd.com
www.eaglebankmd.com
Member Federal Deposit Insurance
Corporation
Equal Housing Lender
Member Federal Reserve System
Affirmative Action/Equal Opportunity
Stock Exchange Listing
Employer
©2008 Eagle Bancorp, Inc.
Common shares of Eagle Bancorp are
traded on the NASDAQ Capital Market
under the symbol EGBN.
Transfer Agent and Registrar
Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3078
www.computershare.com
BOARD OF DIRECTORS
1 Worthington H. Talcott, Jr.
2 Arthur H. Blitz
3
Leland M. Weinstein
4 Eric H. West
5 Harvey M. Goodman
6 Philip N. Margolius
7 Steven L. Fanaroff
8 Bruce H. Lee
9 Thomas D. Murphy
10 Ronald D. Paul
11 Leonard L. Abel
12 Don R. Rogers
13 James A. Soltesz, P.E.
14 Leslie M. Alperstein, Ph.D.
15 Dudley C. Dworken
16 Zandra D. Nichols, Corporate Secretary
17 Benjamin M. Soto, Esq.
18 Neal R. Gross
19 Benson Klein
Not pictured: Michael T. Flynn, Kim Natovitz
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BETHESDA
7815 Woodmont Avenue
Bethesda, MD 20814
T: 301-986-1800
F: 301-986-8529
CHEVY CHASE
15 Wisconsin Circle
Chevy Chase, MD 20815
T: 301-280-6800
F: 301-280-6810
K STREET
2001 K Street, N.W.
Washington, DC 20006
T: 202-296-6886
F: 202-296-0212
McPHERSON SQUARE
1425 K Street, N.W.
Washington, DC 20005
T: 202-408-8411
F: 202-408-8644
DUPONT CIRCLE
ROCKVILLE
1228 Connecticut Avenue, N.W.
110 North Washington Street
Washington, DC 20036
T: 202-466-3161
F: 202-466-4931
Rockville, MD 20850
T: 301-738-9600
F: 301-738-1210
www.eaglebankmd.com
ROCKVILLE PIKE
11921 Rockville Pike
Rockville, MD 20852
T: 301-230-9260
F: 301-230-9164
SHADY GROVE
9600 Blackwell Road
Rockville, MD 20850
T: 301-762-3076
F: 301-762-2234
SILVER SPRING
8665-B Georgia Avenue
Silver Spring, MD 20910
T: 301-588-6700
F: 301-589-5064
002CS61586