LoyaL ty. Community. trust.
The EagleBank Story
2 0 0 9 A n n uAl R e p oR t
Loyalty
The relationships we build and the loyalty we
earn help make EagleBank what it is today. To us,
loyalty is more than a word. It is a pledge to
provide quality financial services and successful
solutions. It is also a dedication to being the
leading community bank in our market, respected
for our banking knowledge, business ethics, and
corporate citizenship.
Community
Banks, to a large degree, are reflections of the
communities they serve. We realize that
the economic growth and quality of life within
these communities have a significant
impact on our clients’ success as well as our
own. EagleBank works hand-in-hand with
customers to meet their banking needs and
to make our area a better place to live.
Trust
In a challenging financial marketplace, where can
a business place its trust? In a bank that has
the resilience and strength, not only to weather
a financial storm, but to take advantage of the
opportunities that it presents. Customers trust
EagleBank’s ability to stand by them through
growth and change, with the local presence and
accessibility that is our hallmark.
3
To Our Shareholders
It is with great pleasure that we can report to you that in 2009,
consideration by the Board, in December, 2009, we made
Eagle Bancorp, Inc. had a record-breaking year despite the
a substantial redemption of $15 million of the TARP preferred
difficult economic times we are experiencing both locally and
stock. The approval of this transaction by the Federal Reserve
nationally. The results included $10.4 million of net income, which
is another indication of the strength of the Company. In addition,
was a 40% increase over the prior year, significantly strengthening
the partial redemption will result in a reduction in the dividends
our capital, and continuing the expansion of our size and market
due to the Treasury.
position. We ended the year with total capital of $188 million and
total assets of $1.8 billion. While we have achieved growth and
profitability in many prior years, 2009 was remarkable for our
company because all this was accomplished during one of the
worst and deepest recessions that the US and global economies
have ever experienced. The year was especially difficult for
commercial banks and other members of the financial services
industry. While many analysts feel that the darkest hours for the
US economy occurred during late 2008, the effects were felt
throughout 2009. Not only were we dealing with the impact on
the national and local economy, but also with negative sentiment
towards financial services firms from a confused public and
undeserved backlash from Capitol Hill.
Another item of major focus during the recession has been asset
quality, and EagleBank was prepared for this. Our traditional
underwriting standards have resulted in a below average level
of problem loans, when compared to other commercial banks
across the country, whether community banks, regional or
national institutions. In addition, during this time, the Bank
has taken an active approach to early identification of problem
loans and an aggressive approach to those loans which have
become stressed. This strategy has allowed the Bank to achieve
resolution and collection of many of the problems, rather than
letting these loans become restructured loans or charge-offs. Net
charge-offs for the year were a mere 0.42% of average loans. In
addition, the early and realistic identification of problem loans has
Our capital position was solid as we entered 2009, because of
been acknowledged and provided for in the allowance for credit
the $38.2 million of preferred stock placed with the US Treasury
losses, which is adequate for the composition of the portfolio.
under the TARP program in December 2008. This event
As we worked through the early stages of the recession and our
enhanced our ability to grow the balance sheet and meet the
portfolio, our level of non-performing assets peaked in the 1st
credit needs of current and new customers in the Washington
quarter of 2009 at 3.33% of total assets. We have been able to
Metropolitan Area. This was the original intention of the TARP
achieve improvement in our portfolio quality and reductions in
program in which we proudly participated. Our strong capital
non-performing assets in each subsequent quarter, with the ratio
levels allowed us to increase our loan portfolio by over $130
reduced to 1.50% by year end. We are confident that the problem
million during the year. Given the importance of having a strong
loans have been properly identified and reserved for adequately.
capital base, when the equity markets became more receptive
in mid-year, Eagle Bancorp chose to raise $55.2 million through
a common stock offering in September, 2009. This was a very
strong endorsement of the Company as the stock was purchased
by over 60 new institutional investors. Because of the very positive
response to the oversubscribed offering, the Company was able to
raise more funds than initially forecast. The amount of the offering
allowed for the elimination of 50% of the warrants issued to the
Treasury under the TARP program. After further analysis and
The Company’s long-term focus on asset quality has also been
reflected in the investment portfolio. Our holdings have always
been in investment grade securities and obligations of sound
correspondent banks. The portfolio is highly liquid, and of a
relatively short duration. During the year, we were able to realize
some capital gains, while repositioning the portfolio for the current
and expected interest rate environments. At year end,
our securities portfolio had an unrealized gain of $3.9 million.
4
Our net interest margin for the year was 3.85%, which is among
additional convenience for Montgomery County customers.
the highest in the industry. This margin was achieved as we
This branch is located in a new mixed-use development in an
constantly monitored and controlled our cost of funds to benefit
area with very strong demographics. We are excited about the
from the impact of Federal Reserve policies on interest rates, while
opportunity for both commercial and retail business in this market.
at the same time maintaining asset yields through a disciplined
Additionally, we expanded the staff, products and service level
approach to loan pricing. Active management of the Bank’s
of the International Banking Department, which saw significant
securities portfolio was also an important factor in preserving the
growth during the year.
yield and margin.
Early in 2009, the entire banking industry came under attack by
As previously mentioned, the Bank achieved excellent growth in
the national and local media, and often banks were painted as the
our loan and deposit levels. This is a result of concerted efforts by
scapegoat for the nation’s economic woes. Our management team
our branch personnel, lending officers and business development
was active in reaching out to local and national political leaders to
officers to attract new clients to the Bank, and strengthen the
make them understand the role played by EagleBank and other
relationships with valued long-term customers. Our marketing
community banks in the economy. These messages have been
efforts during the year emphasized our ability to creatively meet
heard and many more people in our community and on Capitol
the customers’ banking needs, and not just sell products. At a
Hill understand the key role played by community banks in fueling
time when many national and regional banks were curtailing their
job growth and credit.
lending activities, we were providing customized credit solutions
to our clients. Because we were able to meet all of our new and
existing clients’ needs, including electronic banking and treasury
management services, and because of an effective referral
network, we were able to expand relationships and saw excellent
growth in deposit levels, 50% on average, during the year.
In addition to our focus on our own business, EagleBank will
always be committed to giving back to the community. The
EagleBank Bowl, held on December 29th, was a tremendous
success, bringing an exciting event to thousands of college
football fans here in the Washington, DC area and to over 3
million national viewers on ESPN. More importantly, the game
We are proud that our strong capital position enabled us to
supported the Wounded Warrior Project, which assists severely
increase our average loan portfolio by 44% during the year.
injured servicemen returning to the US from combat duty in Iraq
We remained an active lender in the Washington Metropolitan
and Afghanistan. Our 5th Annual EagleBank Fight Against Breast
Area, and met the needs of our borrowers. Throughout the year,
Cancer Golf Tournament was sold out once again and raised over
EagleBank was able to attract new customers and acquire market
$150,000, which is donated locally to research and treatment
share as many of our competitors were contracting. Just as
facilities involved with this disease that impacts so many. We are
important, we continue to offer our customers access to our senior
pleased that our effort in these charitable activities has been well-
level decision makers, who are locally based, who understand
recognized and received by the entire community.
the Washington Metropolitan market, and who understand and
respond to the customers’ needs rather than providing a “cookie
cutter” response.
While 2009 was a very good year, we are very well-positioned
for continued growth in 2010 and beyond. Our size and capital
strength allow us to be an active lender in both the business and
During 2009, we began to see the results of our entrée into
real estate markets throughout the Washington Metropolitan Area.
Northern Virginia. We continue to successfully develop new
Our commitment to service and recognizing the needs of our
business and customer relationships in that market thanks to our
community will continue to result in strong relationships with each
growing lending and banking team in Virginia. Our 14th branch,
of our customers. We appreciate your support and look forward to
located in Potomac, Maryland, opened in November—providing
continued success.
Sincerely,
Ronald D. Paul
Chairman & CEO
Robert P. Pincus
Vice Chairman
5
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.
YEAR ENDED DECEMBER 31,
(dollars in thousands except per-share data)
2009
2008
2007
2006
2005
2004
Balance Sheet - Period End
Securities
Loans held for sale
Loans
Allowance for credit losses
Intangible assets, net
Total assets
Deposits
Borrowings
Subordinated debt
Total liabilities
Preferred stockholders’ equity
Common stockholders’ equity
Total stockholders’ equity
Tangible common equity
Statement of Operations
Interest income
Interest expense
Provision for credit losses
Noninterest income
Noninterest expense
Income before taxes
Income tax expense
Net income
Preferred dividends
Net income available to common shareholders
Per Common Share Data (1)
Net income, basic
Net income, diluted
Dividends declared
Book value
Tangible book value
Common shares outstanding
Weighted average common shares outstanding
Ratios
Net interest margin
Efficiency ratio (2)
Return on average assets
Return on average common equity
Total capital (to risk weighted assets)
Tier 1 capital (to risk weighted assets)
Tier 1 capital (to average assets)
$ 245,644
1,550
1,399,311
20,619
4,379
1,805,504
1,460,274
150,090
9,300
1,617,183
22,612
165,709
188,321
161,330
$ 84,338
24,809
7,669
7,297
42,773
16,384
5,965
10,419
2,307
8,112
$ 169,079
2,718
1,265,640
18,403
2,533
1,496,827
1,129,380
215,952
12,150
1,354,456
36,312
106,059
142,371
102,568
$ 65,657
23,676
3,979
4,366
30,817
11,551
4,123
7,428
177
7,251
$ 87,117
2,177
716,677
8,037
236
846,400
630,936
128,408
-
765,234
-
81,166
81,166
80,930
$ 57,077
23,729
1,643
5,186
24,921
11,970
4,269
7,701
-
7,701
$ 91,140
2,157
625,773
7,373
255
773,451
628,515
68,064
-
700,535
-
72,916
72,916
72,661
$ 50,318
17,880
1,745
3,846
21,824
12,715
4,690
8,025
-
8,025
$ 68,050
2,924
549,212
5,985
168
672,252
568,893
32,139
-
607,288
-
64,964
64,964
64,796
$ 36,726
8,008
1,843
3,998
18,960
11,913
4,369
7,544
-
7,544
$ 64,098
2,208
415,509
4,240
-
553,453
462,287
30,316
-
494,919
-
58,534
58,534
58,534
$ 24,195
4,328
675
3,753
14,952
7,993
2,906
5,087
-
5,087
$ 0.55
0.55
-
8.48
8.26
19,534,226
14,643,294
$ 0.63
0.62
0.11
8.19
7.92
12,714,355
11,556,569
$ 0.73
0.71
0.22
7.59
7.57
10,693,447
10,531,236
$ 0.77
0.74
0.21
6.99
6.97
10,425,870
10,373,080
$ 0.74
0.70
0.20
6.32
6.31
10,274,394
10,177,948
$ 0.51
0.48
-
5.80
5.80
10,078,712
10,062,368
3.85%
64.01%
0.65%
6.60%
13.57%
11.82%
10.29%
4.05%
66.49%
0.69%
8.05%
11.93%
9.78%
9.22%
4.37%
66.54%
0.96%
10.03%
11.21%
10.20%
9.46%
4.81%
60.15%
1.13%
11.63%
11.91%
10.82%
9.67%
4.99%
57.95%
1.24%
12.25%
12.05%
11.04%
9.94%
4.35%
63.30%
1.04%
9.16%
13.45%
12.52%
11.98%
Asset Quality
Nonperforming assets and loans 90+ past due
Nonperforming assets and loans 90+ past due
to total assets
Allowance for credit losses to loans
Allowance for credit losses to nonperforming assets
Net charge-offs
Net charge-offs to average loans
$ 27,131
$ 26,366
$ 5,324
$ 2,013
$ 491
$ 156
1.50%
1.47%
76.00%
$ 5,454
0.42%
1.76%
1.45%
69.80%
$ 1,123
0.12%
0.63%
1.12%
150.96%
$ 979
0.15%
0.26%
1.18%
366.27%
$ 357
0.06%
0.07%
1.09%
1218.94%
$ 98
0.02%
0.03%
1.02%
2717.95%
$ 115
0.03%
(1) Presented giving retroactive effect to the 10% stock dividend paid on the common stock on October 1, 2008 and the stock splits in the form of 30% dividend
on the common stock paid on July 5, 2006 and February 28, 2005. In July 2008, the Company discontinued the payment of its quarterly cash dividend.
(2) Computed by dividing noninterest expense by the sum of net interest income and noninterest income.
M a r y l a n d ad v i s o r y B o a r d
Anthony A. Cantalupo, Jr., Esquire
The Cantalupo Law Group, PA
Benson Klein
Ward & Klein, Chartered
Larry E. Walker
The Walker Group
Lisa J. Cines
Aronson & Company
Maureen West McCarthy, CPA
Snyder Cohn, PC
Jeffrey E. Weintraub, CPA
Goodman & Company
Albert A. D’Alessandro, Chair
Financial Solutions, LLC
Elsie L. Reid
Furey, Doolan & Abell, LLP
Marc Wertheimer, Esquire
Wertheimer & Ciazza, LLC
Jay A. Eichberg
Eichberg Construction Co.
MARYLAND 7
LoyaLty. Community. trust. The EagleBank Story in the Year 2009.
The EagleBank story in 2009 is one of loyalty earned, communities served, and trust that
enabled the Bank to exceed expectations. Even as we strengthened our bond with longtime
customers, employees, and shareholders, we earned new loyalties, built new relationships, and
continued to contribute to the vitality of the area where we live and work.
Now, more than ever, we are able to compete with larger
Meeting the needs of local businesses and representing
financial institutions and offer customers expanded
the Bank in Montgomery County, Maryland, Washington,
products and services. With a presence in three vibrant
DC, and Northern Virginia, is the mission of the three
markets in the Washington Metropolitan Area, we have
EagleBank Advisory Boards created in 2009. The Boards
the stability, strength, and experience to create and seize
are comprised of talented professionals, respected in their
opportunities. EagleBank’s achievements in 2009 reflect
fields, who provide us with their expertise and take the
the Bank’s ability to keep pace with an area that is fast
EagleBank story to the markets we serve.
becoming a major financial hub.
Strengthening our International Banking Department was
In 2009, EagleBank experienced solid financial results and
a focus in 2009, as we added new products and services
remarkable growth. Our profits increased 40% over 2008
to serve the international community and customers
and our total assets grew 21% to more than $1.8 billion.
traveling abroad. Always looking for ways to make our
Reaping the rewards of our seamless merger with Fidelity
products more competitive and convenient, we added
& Trust Bank in 2008, we were able to realize cost savings
new checking accounts for our customers’ business and
by streamlining and consolidating our operations. We
personal banking needs. We also expanded our branch
were also able to attract institutional investors nationwide
network in Montgomery County with our Park Potomac
to share and contribute to our success. These measures,
location, just off Interstate 270 in Potomac, Maryland.
as well as our enhanced ability to meet the needs of our
growing customer base, are effective safeguards against
the challenges that continue in the banking industry and
global economy.
The EagleBank story in 2009 is one of corporate
citizenship and giving back to the communities that have
rewarded us with their loyalty and trust. Whether it is the
efforts of individual employees or the Bank’s sponsorship
When a team of the Bank’s senior executives took the
of events like the EagleBank Bowl, EagleBank is proud
EagleBank story to institutional investors in the fall of
to play an active role in improving our area’s quality of
2009, it represented a departure from the retail-oriented,
life. Looking ahead, we have set the stage for further
locally focused stock offerings used in the past. In
growth, community involvement, and taking advantage of
successfully raising $55 million in new capital, the team
opportunities for our clients and ourselves.
demonstrated the Bank’s ability to exceed all regulatory
capital expectations in addition to its readiness to fulfill the
diverse banking requirements of the business community.
8
Earning LoyaLty with Exceptional Service & Enhanced Products
Increased capital gives EagleBank the ability to improve
In 2009, EagleBank’s International Banking Department
its financial, physical, and human resources. The three
began offering the benefit of Foreign Currency Exchange.
Advisory Boards created in 2009 provide us with greater
We facilitate the exchange and guarantee delivery within
knowledge to grow strategically. Northern Virginia, with an
48 hours of placing the order. Customers can also save
EagleBank branch in Tysons Corner, is an area especially
time and money by ordering Foreign Currency Travelers
targeted for further expansion. The market insight and
Cheques at our branch locations. These new banking
expertise of our Northern Virginia Advisory Board assists
products reflect EagleBank’s desire to provide personal
us in achieving this goal. Likewise, our Advisory Boards in
and business banking solutions to the international
Montgomery County, Maryland and Washington, DC help
community, including embassies, their employees and
us expand and develop new relationships with various
affiliates, and local companies doing business abroad.
segments of the business community, from health care
and non-profits to retail and real estate.
Providing competitive and convenient banking products
and services is a constant goal at EagleBank. In 2009,
EagleBank’s drive to strengthen our presence in our
we introduced two new checking accounts; a Small
respective markets is also evidenced by our redesigned
Business Checking Account, ideal for growing businesses,
Commercial and Industrial Lending Department. Dedicated
and Eagle Checking for personal banking. Both offer
team leaders in each market know the area and have the
no monthly maintenance fee and no minimum balance
experience, knowledge, and ability to customize loans and
requirement, free bill pay and eStatement Service with
banking products. EagleBank also offers our commercial
online banking, and free use of EagleBank ATMs.
lending clients the access to top management and local
decision-making that can turn a business opportunity
into a reality.
As EagleBank’s presence and ability to serve our three
markets increases, so does our commitment to earning
customer loyalty and trust. We know that if our customers
As a leading community bank, EagleBank is able to grow
succeed, so will we, and we derive satisfaction in achieving
both loans and deposits and weather business cycles
our shared goals.
profitably. Maintaining credit and asset quality is critical to
our success. Credit specialists in our Credit Administration
Department understand the market and work proactively
with customers. Through solid underwriting, relationship
building, and local accessibility, EagleBank maintains a
strong credit culture and provides superior service.
n o r T H Er n v i r Gi n i a ad v i s o r y B o a r d
Douglas C. Boggs, Esquire
Patton Boggs
Harry M. Glazer
Kelley Drye & Warren, LLP
Kristina Bouweiri
Reston Limousine
Enrico C. Cecchi
IDI Group Companies
Albert A. D’Alessandro, Chair
Financial Solutions, LLC
Richard C. Thomas
Clark’s Litho
Steven M. Wiltse
Argy, Wiltse & Robinson, P.C.
VIRGINIA Wa sHi nG T o n, dC ad v i s o r y B o a r d
Rollin M. Bell, III
PCM Construction
Donald Blanchon
Whitman-Walker Clinic
Gregory J. Casten
OceanPro Industries, LTD
Barry F. DesRoches
Vintage Settlement Services
Earl Segal, Esquire
Newmark Knight Frank
Barry N. Dickstein
Blackstreet Capital Management, LLC
Zeid Masri
SilverHaze Partners, LLC
Albert A. D’Alessandro, Chair
Financial Solutions, LLC
Stefan C. Nicholas, Esquire
Jackson and Campbell, P.C.
WASHINGTON, DC 11
Giving Back to the Communities Where We Live & Work
Whether assembling meals for HIV/AIDS patients with
EagleBank Foundation Fight Breast Cancer Golf Classic.
Food & Friends in Washington, DC, helping a needy family
The tournament was held on October 12, 2009 at
in Montgomery County, Maryland build their home with
Woodmont Country Club in Montgomery County. Despite
Habitat for Humanity, or mentoring a developmentally
the difficulties in the economy, more golfers than ever
disabled client of Alexandria, Virginia’s Community
participated and more money was raised to benefit local
Services Board, EagleBank employees participate in
health care facilities’ fight against breast cancer.
many area philanthropic efforts. The dedication that
these individuals bring to their banking relationships
is complemented by the commitment they have to the
communities where they live and work.
Taking the next step against cancer, The EagleBank
Foundation partnered with the GW Cancer Institute to host
the 2009 Annual Cancer Survivorship Symposium. Held
at The George Washington University’s Marvin Center on
Just as EagleBank employees proudly contribute to the
October 15, 2009, the symposium addressed the needs of
area’s quality of life, so does the Bank dedicate itself to
cancer survivors and how to improve their quality of life.
a leadership role in corporate citizenship. EagleBank’s
financial stability and strength enabled the Bank to devote
time and resources to its second annual sponsorship
of the EagleBank Bowl. Held on December 29, 2009 at
Washington, DC’s historic RFK Stadium, the Bowl game
between UCLA and Temple was attended by more than
23,000 fans. The beneficiary of the 2009 EagleBank Bowl
was the Wounded Warrior Project established to honor
and meet the needs of our severely injured war veterans.
October 3, 2009 was a busy day for giving back to the
community. Many EagleBank employees participated in
the eighth annual Ronald D. Paul Companies Kidney Walk,
founded by EagleBank’s Chairman Ronald Paul, which
raised over $170,000 for the National Kidney Foundation.
Also, on October 3, EagleBank employees volunteered
at the Annual Taste of Bethesda event to benefit the
Bethesda Urban Partnership.
The EagleBank Bowl also benefits local businesses and
EagleBank views its commitment to corporate citizenship
stimulates the economy in the Nation’s Capital.
as a vital part of community banking. As members of the
A shared commitment to the community was evident
when the Bank and community members worked
together to raise over $150,000 in the fifth annual
community it serves, the Bank and its employees are
committed to making our area a better place to live.
Building trust as We Build an Exciting Future
The EagleBank story of earning loyalty, serving the community, and building trust continues with confidence into 2010.
With financial strength, experience, and market knowledge, we are able to turn challenges into opportunities. As a leading
community bank, EagleBank is well-positioned to fulfill the needs of customers, satisfy shareholders, and support the
communities that contribute to our success.
WASHINGTON, DC 12
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.
The EagleBank Pledge
We pledge to our customers, and to each other, to abide by the following five components of quality customer service.
Competency
We will know our job and how to deliver to you the best in banking products and services.
Appreciation
We will consistently act in a manner that demonstrates to you that we value you as a
customer of EagleBank. We understand that you are the lifeblood of our organization and
we will demonstrate that to you in every interaction.
Reliability
We will do what we say we are going to do. We will do it when we say we are going to do it.
We will do it right the first time.
Responsiveness
We will listen carefully to your needs and we will act promptly to respond to those needs.
Ethics
We will deliver the highest level of customer service with the highest level of business ethics.
13
Board of Directors
Ronald D. Paul *
Chairman, President & CEO of Eagle Bancorp, Inc.
Bruce H. Lee **
President of Lee Development Group
Chairman & CEO of EagleBank
President of Ronald D. Paul Companies
Robert P. Pincus *
Vice Chairman of Eagle Bancorp, Inc.
Vice Chairman of EagleBank
Philip N. Margolius *
Principal of the Margolius Law Firm
Norman R. Pozez *
Chairman & Chief Executive Officer of
Chairman of Blackstreet Capital Management & Milestone
Uniwest Companies
Merchant Partners, LLC
Leslie M. Alperstein, Ph.D. *
President of Washington Analysis, LLC
Arthur H. Blitz **
Principal of Paley, Rothman, Goldstein, Rosenberg, Eig &
Cooper, Chartered
Dudley C. Dworken *
Managing Partner, JDJ Investments, LLC
Steven L. Fanaroff **
Vice President & Chief Financial Officer of
Magruder Holdings, Inc.
Harvey M. Goodman *
President of Goodman-Gable-Gould/Adjusters International
Neal R. Gross *
Founder, Chairman & Chief Executive Officer of
Neal R. Gross & Company
Benson Klein **
Principal of Ward & Klein, Chartered
Susan Lacz **
Principal & Chief Executive Officer of
Ridgewells Caterers
Thomas W. Roberson **
Partner of Montouri & Roberson
Donald R. Rogers *
Principal of Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
James A. Soltesz, P.E. **
President & Chief Executive Officer of
Loiederman Soltesz Associates, Inc.
Benjamin M. Soto, Esquire **
President & Chief Executive Officer of Premium Title &
Escrow, LLC
Worthington H. Talcott, Jr. **
Principal of Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
Leland M. Weinstein *
President of Syscom Services, Inc.
Eric H. West **
Founding Principal of West, Lane & Schlager Realty
Advisors, LLC
* Director of EagleBank and Eagle Bancorp, Inc.
** Director of EagleBank only
14
Executive Officers
Ronald D. Paul
Chairman of the Board, President & Chief Executive Officer of Eagle Bancorp, Inc.
Chairman of the Board & Chief Executive Officer of EagleBank
Susan G. Riel
Senior Executive Vice President & Chief Operating Officer of EagleBank
Michael T. Flynn
Executive Vice President & Chief Operating Officer of Eagle Bancorp, Inc.
Martha Foulon-Tonat
Executive Vice President & Chief Lending Officer of EagleBank
James H. Langmead
Executive Vice President & Chief Financial Officer of Eagle Bancorp, Inc. and EagleBank
Thomas D. Murphy
President of Retail Banking of EagleBank
Janice L. Williams
Executive Vice President & Chief Credit Officer of EagleBank
Officers
Richard D. Corrigan
President/Eagle Commercial Ventures, LLC
Susan O. Kooker
SVP/Director of Audit
Deborah C. Shumaker
SVP/Business Development Sales Manager
Robert R. Hoffmann
EVP/Chief Administrative Lending Officer
Linda M. Lacy
SVP/Information Technology Manager
Terrence D. Weber
SVP/Controller
Kim Ray
EVP/Senior Operations Officer
R. Frederick Marsden
SVP/Consumer Loan Manager
Jay R. Abrahams
VP/Reporting & Planning Manager
J. Mercedes Alvarez
SVP/Director of Marketing
Russell D. McNish
SVP/Director of Human Resources
Maria G. Acosta
VP/Commercial Deposit Services Officer II
Joseph L. Clarke
SVP/Branch Administration Manager
Thomas A. Mee
SVP/Group Leader/Commercial Real Estate
Allan L. Acree
VP/Commercial Real Estate Loan Officer II
Lending
Thomas G. Durrer
SVP/Group Leader/Commercial Lending—
Northern Virginia
Joan Y. Pawloski
SVP/Loan Administration Manager
Jacqueline Ames
VP/Business Development Officer—
International Banking
Elizabeth A. Ferrenz
SVP/Director of Customer Service
Cynthia A. Pehl
SVP/Chief Risk Officer
Thomas G. Austing
VP/Business Development Officer
Robert R. Giraldi
SVP/Group Leader/Commercial Lending—
John B. Richardson
SVP/Group Leader/Commercial Lending—
Rokas Beresniovas
VP/Business Development Officer
Maryland
Washington, DC
Kai M. Hills
SVP/Business Development Officer
Susan J. Schumacher
SVP/Commercial Deposit Services Manager
John A. Bettini
VP/Commercial Loan Officer II
15
Andrew S. Bridge
VP/Business Development Officer
Glenn M. Johnson
VP/Electronic Application Manager
Janette S. Shaw
VP/Marketing & Advertising Manager
Michael A. Brooks
VP/Credit Administration Officer
Scott S. Kinlaw
VP/Commercial Loan Officer II
Jenny A. Shtipelman
VP/Business Development Officer
Judy L. Callaway
VP/Commercial Deposit Services Officer II
Lisa J. Knapp
VP/Commercial Loan Officer II
Carisa D. Stanley
VP/Commercial Real Estate Loan Officer
Michele Capone
VP/Workout, Liquidation & Recovery Officer
Susan M. Lewis
VP/Project Manager
James R. Walker
VP/Commercial Real Estate Loan Officer II
Horacio Chacon
VP/Commercial Loan Officer II
Matthew B. Leydig
VP/Commercial Real Estate Loan Officer II
Jane N. Willis
VP/Credit Analyst II
James R. Chittock
VP/Retail Sales & Service Coordinator
Jodee Lichtenstein
VP/Workout, Liquidation & Recovery Officer
Bernard P. Worrell
VP/Business Development Officer
Terry L. Clarke
VP/Project Manager
Maria C. Lumpkins
VP/B2B Manager
William A. Youngblood
VP/Commercial Loan Officer
Linda A. Dawkins
VP/Relationship Manager
W. Randy McVey
VP/Commercial Loan Officer
Michael L. Devito
VP/SBA Loan Officer
Juanita Douglas
VP/Branch Manager II
P. Lucas Flynn
VP/Credit Analyst II
Courtney W. Michel
VP/Human Resources Officer
Ludwell L. Miller, III
VP/Compliance Director
Shan Mohamed
VP/Business Development Officer
Joan M. Grant
VP/Wire & Cash Room Manager
Robin D. Powell
VP/Commercial Loan Officer II
Sharon A. Gray
VP/Loan Operations Manager
Ryan A. Riel
VP/Commercial Real Estate Loan Officer II
Stephen I. Greene
VP/Residential Lending Manager
Alexis Santin
VP/Cash Management Officer
Timothy D. Hamilton
VP/Commercial Loan Officer II
Kenneth S. Scales
VP/Commercial Loan Officer II
Jackie Ho
VP/Credit Analyst II
Lynne K. Shaer
VP/Senior Assistant Controller
Corporate Information
Annual Meeting
Hyatt Regency Bethesda
One Bethesda Metro Center
7400 Wisconsin Avenue
Bethesda, Maryland 20814
Thursday, May 20, 2010, at 10:00 a.m.
Form 10-K
The Company’s Form 10-K
may be obtained, free of charge,
by contacting:
Jane E. Cornett
Corporate Secretary
EagleBank
7815 Woodmont Avenue
Bethesda, MD 20814
240.497.2041
jcornett@eaglebankcorp.com
www.eaglebankcorp.com
Stock Exchange Listing
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
Corporate Headquarters
7815 Woodmont Avenue
Bethesda, MD 20814
301.986.1800
Investor Relations
Michael T. Flynn
EVP & Chief Operating Officer
Eagle Bancorp, Inc.
7815 Woodmont Avenue
Bethesda, MD 20814
240.497.2040
mflynn@eaglebankcorp.com
www.eaglebankcorp.com
Counsel
BuckleySandler LLP
1250 24th Street, NW
Suite 700
Washington, DC 20037
Independent Accounting Firm
Stegman & Company
405 East Joppa Road
Suite 100
Baltimore, MD 21286
Member Federal Deposit Insurance Corporation
Equal Housing Lender
Member Federal Reserve System
Member Federal Home Loan Bank of Atlanta
Affirmative Action/Equal Opportunity Employer
©2010 Eagle Bancorp, Inc.
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, 2000 through December 31, 2009, 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.
600
500
400
300
200
100
0
12/31/00
12/31/01
12/31/02
12/31/03
12/31/04
12/31/05
12/31/06
12/31/07
12/31/08
12/31/09
EAGLE BANCORP, INC.
NASDAQ BANK INDEX
NASDAQ COMPOSITE INDEX
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Eagle Bancorp, Inc.
100.00 169.67
228.35 295.38 342.69 509.12 503.74 356.02 188.14 342.57
NASDAQ Composite Index
100.00
78.95
54.06
81.09
88.06
89.27
97.76 107.36
63.83
91.85
NASDAQ Bank Index
100.00 110.08
115.05 149.48 165.92 158.73 176.20 137.31 104.46
85.13
Assuming $100 was invested on December 31, 2000
M A RY L A N D
Bethesda
7815 Woodmont Avenue
Bethesda, MD 20814
T: 240.497.2044
F: 301.986.8529
Chevy Chase
15 Wisconsin Circle
Chevy Chase, MD 20815
T: 301.280.6800
F: 301.280.6810
Park Potomac
12505 Park Potomac Avenue
Potomac, MD 20854
T: 301.444.4520
F: 301.444.4525
Rockville
110 North Washington Street
Rockville, MD 20850
T: 301.738.9600
F: 301.738.1210
Rollins Avenue
130 Rollins Avenue
Rockville, MD 20852
T: 301.287.8500
F: 301.468.5601
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
V I RG I N I A
Tysons Corner
8601 Westwood Center Drive
Vienna, VA 22182
T: 703.485.8011
F: 703.356.4951
WA S H I N G TO N , D C
Dupont Circle
1228 Connecticut Avenue, NW
Washington, DC 20036
T: 202.466.3161
F: 202.466.4931
Eye Street
1725 Eye Street, NW
Washington, DC 20006
T: 202.292.1600
F: 202.292.1652
Georgetown
1044 Wisconsin Avenue, NW
Washington, DC 20007
T: 202.481.7025
F: 202.298.6575
K Street
2001 K Street, NW
Washington, DC 20006
T: 202.296.6886
F: 202.296.0212
McPherson Square
1425 K Street, NW
Washington, DC 20005
T: 202.408.8411
F: 202.408.8644
www.eaglebankcorp.com
EGBN-2009