Annual Report
2015
Larger than ever. But never too big.
EagleBank’s growth provides expanded capabilities—with the same
access to bank leadership for those we serve.
Introduction
In 2015, EagleBank continued its remarkable growth,
reaching new levels of financial strength, market
performance, and lending capabilities. We have
achieved 28 consecutive quarters of record earnings
and a record level of market capitalization. We are proud
to be the DC area’s number-one community bank.
And we’re even prouder of achieving that success not
in spite of our local focus, but because of it. Our larger
capabilities mean we can serve larger organizations
and provide greater levels of assistance. But we’ll never
forget that we’re a community bank. And community
means people.
We believe more than ever that good banking must
be built on good relationships. Personal attention.
The flexibility (as well as the capability) to deliver
individualized solutions to business challenges.
That’s how the whole community grows and prospers.
Take our new alliance with George Mason University.
The big headline was the name change of the Patriot
Center to EagleBank Arena. But the big story is the
deeper relationship being built between EagleBank
and Mason students and faculty, in the form of
scholarships, internships, lectures, and mentoring.
Bringing EagleBank people into the classroom, and
bringing students into the real world of community
banking, in Northern Virginia and beyond. Together
with Mason, EagleBank is nurturing the next
generation of business leaders—one of the most
important ways we can serve our community.
Yes, EagleBank is now large enough to do more.
But we’ll never outgrow that entrepreneurial
spirit of personalized service. Always asking,
“What can we do for you?” And always listening.
EAGLEBANK ANNUAL REPORT 2015
5
Letter to the Shareholders
To Our Shareholders
The year 2015—when we celebrated our 17th anniversary—
was another one filled with success and growth for
Eagle Bancorp, Inc. A number of particular achievements
coupled with our steady discipline and drive have
positioned EagleBank, our principal subsidiary, to
continue to take advantage of the strong foundation
we have built. Our bank has more assets and a higher
deposit market share in the Washington area than any
other local community bank that was founded here.
During 2015, we completed the seamless integration of
Virginia Heritage Bank, with which we merged in October
2014. We added depth to our employee ranks with some
valuable additions from VHB, expanded our market
share, and retained VHB’s very valuable customer base.
In March, we strengthened our capital position by raising
$100 million in common equity, at favorable pricing,
due to the tremendous demand for our stock. Later in
the year, as planned, we redeemed all of the preferred
stock associated with the Small Business Lending Fund.
In May, we announced a historic alliance with George
Mason University, a statement relationship evidencing
our commitment to giving back to our community.
As a result of the efforts of 400+ team members,
EagleBank further solidified its position in 2015 as the
leading local bank in the Washington, DC area:
• Our assets exceed $6 billion
• We made $686 million of net new loans to
businesses and real estate projects
• We generated $848 million in net new deposits
• We hold the highest deposit market share of
any local community bank
• We are the largest—and the most profitable—
bank headquartered in Maryland
• Our credit quality remains outstanding; net charge-
offs were only 0.17% of annual average loans and
problem loans were only 0.26% of total loans
• Our market capitalization exceeded $1.6 billion—
58% greater than a year ago
For the year, net income was $84.2 million, an increase
of 55% over 2014; earnings per share (diluted) were
$2.50. This represented a record level of earnings for
the seventh consecutive year. In fact, our efforts have
resulted in record earnings for 28 quarters in a row,
dating back to tumultuous 2008. Eagle Bancorp’s
five-year compound growth rate on Earnings per Share
(diluted) is 29%, and our Return on Average Assets for
the year was 1.49%.
We are most pleased with and proud of these
indicators of profitability and success. They represent
the continuation of a long, steady period of disciplined
growth. We note that our success is not simply in
one or two metrics, but across the board. Return on
Average Tangible Common Equity was 14.69%. Total
Shareholder Return for 2015 was 42%. With all of these
accomplishments, our $5.2 billion deposit base only
represents a 3.0% market share. While that represents
the largest market share of any Washington-area
community bank, the runway ahead is tremendous.
That growth opportunity drives us daily. Our $5.0 billion
loan portfolio also makes us the market leader among
local community banks.
The net interest margin was highly favorable, at 4.33%.
It’s no coincidence. We actively manage our asset-
liability process. We are disciplined in pricing loans
while at the same time focused on managing our
deposit composition and cost of funds. Demand deposit
accounts made up over 27% of total deposits, consistent
with our past levels. Because the Bank maintains a
relatively neutral asset-liability position, we are well
positioned when a rise—or drop—in interest rates occurs.
A bank’s success is not just measured in terms of the
size of a loan portfolio, but of its quality. The exceptional
credit quality of EagleBank’s loan portfolio continues to
be one of our prime attributes. Our reserve position is
quite strong, and our net charge-offs were only 0.17%
of our annual average loans for the year. Having a low
net charge-off ratio has been a constant for EagleBank
for years. Keep in mind that our loan portfolio has
grown $3.3 billion over the past five years, yet our
net charge-offs generally remain flat. At year-end,
our Coverage Ratio of Allowance for Loan Losses to
Nonperforming Loans was quite strong, at 398%.
EagleBank’s efficiency—the banking industry’s
version of “What does it cost to earn a dollar?”—is
particularly favorable. Our Efficiency Ratio in 2015
was only 42.49%, further evidence of the successful
integration and efficiencies created as a result of the
Robert P. Pincus, Vice Chairman (left) and Ronald D. Paul, Chairman & CEO
6
EAGLEBANK ANNUAL REPORT 2015
7
merger with Virginia Heritage Bank. The low ratio is
the result of focused attention on operating leverage.
Revenues increased substantially, while the cost to
produce those revenues increased at a slower rate.
The Company expects to continue to benefit from this
level of efficiency. As an example, due to the ongoing
reduction in customers walking into a branch, we
closed two branches and are relocating two more to
smaller-sized locations. Our investments in technology
continue to facilitate an efficient operation. Yet none of
the cost-saving efforts has caused us to sacrifice the
essence of EagleBank—relationship-based banking.
2015 was a year when EagleBank saw the combined
benefits of the VHB merger, an increased capital
position, strong growth in loans and deposits, and
disciplined management. We are well poised to build
upon the strong foundation that was established over
our first 17 years, and to propel us forward. As we
continue to grow, we are able to capitalize on our
strength and size while still offering our customers
the one-on-one relationships to which they have
become accustomed. We’re still a local bank, with
decision makers right here in the area. We have
keen knowledge of the market and its players, and
customers and prospects have direct access to senior
leaders of the Bank; we pride ourselves on our ability
to execute.
We will continue to build EagleBank the same way
we arrived at this leadership position—by putting
relationships F•I•R•S•T. FIRST is an acronym: Flexible.
Involved. Responsive. Strong. Trusted. Customers
know that we will work with their needs, not with
prepackaged products on a shelf. They can brainstorm
with Bank leadership, who remain involved as the
relationship deepens and broadens. They can trust
us to give them prompt answers. And they know they
are dealing with a $6 billion bank, with capital well in
excess of required levels and with a desire to grow
loans, while never sacrificing credit quality.
Not only do we support our customers, they help
us too. We learn from them every day. It’s truly what
a relationship should be. EagleBank is focused on
everyday issues, from the ever-changing workforce
to market dynamics to community needs. One
major area of attention: cybersecurity concerns and
enhancing technology to counter threats of computer
hacking. We seek to educate our customers, to share
with them best practices, in an effort to help them
shore up their processes and systems.
As a community bank, we never forget that we are
part of the community. We have a history from day
one of supporting local groups and causes. That
commitment was never more evident than in May,
when we announced a $6.6 million, 10-year support
agreement with George Mason University, one of
the area’s premier institutions of higher learning and
the pride of Northern Virginia. Mason students are
EagleBank scholars, and interns in our departments.
Bank executives speak in classrooms and to student
groups. We seek George Mason graduates who
have an interest in Finance. And we support Mason
Athletics. The school’s Patriot Center was rechristened
EagleBank Arena as evidence of this great alliance.
The state of your Company is sound and promising. The
challenges ahead, while different from those we faced
in our first 17 years, create the opportunity for Eagle
Bancorp to excel, to propel us forward and to thrive. We
never rest, always looking to grow our base and build
upon the many relationships we have with customers,
shareholders, vendors, employees, and the community.
Thank you for your continued support.
Sincerely,
Ronald D. Paul
Chairman of the Board
President
Chief Executive Officer
Robert P. Pincus
Vice Chairman
Six-Year Summary of Selected Financial Data
Financial Data
Securities
Loans held for sale
Loans
Allowance for credit losses
Intangible assets, net
Total assets
Deposits
Borrowings
Total liabilities
Preferred shareholders’ equity
Common shareholders’ equity
Total shareholders’ equity
Tangible common equity 1
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
Net income per share, basic
Net income per share, diluted
Book value
Tangible book value 3
Common shares outstanding
Weighted average common
shares outstanding, basic
Weighted average common
shares outstanding, diluted
Net interest margin
Efficiency ratio 4
Return on average assets
Return on average common equity
CET1 capital (to risk weighted assets) 5
Total capital (to risk weighted assets)
Tier 1 capital (to risk weighted assets)
Tier 1 capital (to average assets)
Tangible common equity ratio
Nonperforming assets and loans
90+ past due
Nonperforming assets and loans
90+ past due to total assets
Nonperforming loans to total loans
Allowance for credit losses to loans
Allowance for credit losses to
nonperforming loans
Net charge-offs
I
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(
Years Ended December 31
2015
2014
2013
2012
2011
2010
$
504,772
$ 404,903
$ 389,405
$ 310,514
$ 324,053
$
237,576
47,492
44,317
42,030
226,923
176,826
80,571
4,998,368
4,312,399
2,945,158
2,493,095
2,056,256
1,675,500
52,687
108,542
46,075
109,908
40,921
3,510
37,492
3,785
29,653
4,145
24,754
4,188
6,076,649
5,247,880
3,771,503
3,409,441
2,831,255
2,089,370
5,158,444
4,310,768
3,225,414
2,897,222
2,392,095
1,726,798
142,356
280,420
119,771
140,638
152,662
146,884
5,338,048
4,627,121
3,377,640
3,059,465
2,564,544
1,884,654
Five-Year
Compound
Growth Rate
16%
-10%
24%
16%
92%
24%
24%
-1%
23%
—
738,601
738,601
630,059
71,900
548,859
620,759
438,951
56,600
337,263
393,863
333,753
56,600
293,376
349,976
289,591
56,600
210,111
266,711
205,966
22,582
-100%
182,134
204,716
177,946
$
253,180 $
191,573
$
157,294
$
141,943
$
119,124 $
96,658
19,238
14,638
26,628
110,716
135,216
51,049
84,167
601
13,095
10,879
18,345
99,728
86,216
31,958
54,258
614
83,566
53,644
12,504
9,602
24,716
84,579
75,325
28,318
47,007
566
46,441
14,414
16,190
21,364
76,531
56,172
20,883
35,289
566
34,723
20,077
10,983
13,501
63,276
38,289
13,731
24,558
1,511
23,047
$
2.54
$
2.01
$
1.81 $
1.50 $
1.05 $
2.50
22.07
18.83
1.95
18.21
14.56
1.76
13.03
12.89
1.46
11.62
11.47
1.04
9.57
9.38
19,832
9,308
9,242
51,005
25,755
9,098
16,657
1,299
15,358
0.71
0.70
8.41
8.21
33,467,893
30,139,396
25,885,863
25,250,378
21,948,128
21,670,426
32,836,449
26,683,759
25,726,062
23,135,886
21,819,087
21,613,450
33,479,592
27,550,978
26,358,611
23,743,815
22,316,593
22,046,554
4.33%
42.49%
1.49%
12.32%
10.68%
12.75%
10.68%
10.90%
10.56%
4.44%
50.67%
1.31%
13.50%
—
12.97%
10.39%
10.69%
8.54%
4.30%
49.90%
1.37%
14.60%
—
13.01%
11.53%
10.93%
8.86%
4.32%
51.40%
1.18%
14.14%
—
12.20%
10.80%
10.44%
8.50%
3.99%
56.22%
0.97%
11.71%
—
11.84%
10.33%
8.21%
7.29%
4.09%
59.26%
0.86%
8.74%
—
11.64%
9.91%
9.32%
8.53%
$
19,091 $
35,667
$
33,927
$
35,983
$
36,019
$
31,988
0.31%
0.26%
1.05%
0.68%
0.52%
1.07%
0.90%
0.84%
1.39%
1.06%
1.23%
1.50%
1.27%
1.59%
1.44%
1.53%
1.51%
1.48%
397.95%
205.30%
165.66%
122.19%
90.42%
97.89%
$
8,026
$
5,724 $
6,173
$
8,351
$
6,084
$
5,173
32%
29%
29%
21%
-1%
9%
24%
17%
39%
41%
38%
-14%
40%
29%
29%
21%
18%
9%
9%
9%
8
EAGLEBANK ANNUAL REPORT 2015
9
Net charge-offs to average loans
0.17%
0.17%
0.23%
0.37%
0.32%
0.35%
1 Tangible common shareholders’ equity, a non-GAAP financial measure, is defined as total common shareholders’ equity reduced by goodwill and other intangible assets.
2 Presented giving retroactive effect to the 10% stock dividend paid on the common stock on June 14, 2013.
3 Tangible book value per common share, a non-GAAP financial measure, is defined as tangible common shareholders’ equity divided by total common shares outstanding.
4 Computed by dividing noninterest expense by the sum of net interest income and noninterest income.
5 Not applicable to fiscal years prior to 2015.
Balanced Loan and Deposit Growth
Net Income Available to Common Shareholders
for Years Ending
Financial Data
$6,000,000,000
$5,000,000,000
$4,000,000,000
$3,000,000,000
$2,000,000,000
$1,000,000,000
$0
Compound Annual Growth Rate – Total Loans: 24%
Compound Annual Growth Rate – Total Deposits: 24%
$100,000,000
Compound Annual Growth Rate: 40%
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
2010
2011
2012
2013
2014
2015
2010
2011
2012
2013
2014
2015
Asset Quality
Total Shareholder Return Performance
Total Loans ($)
Non Performing Assets as % of Total Assets
Net Charge-Offs as % of Average Loans
$5,000,000,000
$4,000,000,000
$3,000,000,000
$2,000,000,000
$1,000,000,000
$0
20%
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
l
e
u
a
V
x
e
d
n
I
Compound Annual Growth Rate
EGBN
Eagle Bancorp, Inc. 31%
NASDAQ Composite Index 15%
S&P 500 13%
NASDAQ Bank Index 11%
400
350
300
250
200
150
100
50
0
2010
2011
2012
2013
2014
2015
2010
2011
2012
2013
2014
2015
10
EAGLEBANK ANNUAL REPORT 2015
11
A new name, a new alliance.
Renaming the Patriot Center means much more than changing
signage—it’s a sign of our commitment to the community.
EagleBank Arena
Last spring, in one of the most significant developments
of 2015 for EagleBank, the Patriot Center officially
became EagleBank Arena.
But the significance goes far beyond simply changing
the name of the well-known sports and entertainment
venue on the campus of George Mason University in
Fairfax, VA. The new name is a highly visible sign of
something much deeper: a long-term strategic alliance
between EagleBank and the university for the benefit of
Mason students and, ultimately, the entire DC area.
“This is about a relationship between two great
institutions that have a stake in the community,” said
Ángel Cabrera, president of Mason. “It brings together
the largest public research university in Virginia and the
largest community bank in the National Capital Region.”
As part of this new partnership, EagleBank will be
sponsoring a series of business leadership development
programs, including bank executives speaking to Mason
students, faculty, and alumni. EagleBank and Mason also
set up an annual intern/apprentice program, enabling
qualified students to get invaluable hands-on experience
in daily banking operations. Perhaps even more
important is the establishment of scholarships to help
business students fund their Mason education.
By expanding opportunities to pursue business studies,
mentoring students along the way, and greatly enhancing
the employability of graduates, EagleBank and Mason
are joining forces to invest in a new generation of
entrepreneurs and business leaders. That works to
benefit not only individuals, but also our community’s
future job growth and continuing prosperity.
For the area’s leading community bank, that’s the name
of the game.
From left to right: EagleBank/Mason scholarship recipients Jacquelyn
Spalding, Abigail Rubemeyer; Ron Paul of EagleBank; scholarship
recipients Gregg Hoffman, Jason Wong, May Abou Ghazaleh
12
EAGLEBANK ANNUAL REPORT 2015
13
Moore Cadillac
Customized service comes standard.
It all started over lunch.
Joe Moore, president of Moore Cadillac in Chantilly, VA,
was talking with a friend about his frustration with some
of the national lenders he’d been dealing with. The friend
invited Moore to lunch with another friend: Bob Pincus,
vice chairman of EagleBank.
“We had a great meeting,” says Moore. “And EagleBank
has been a very flexible and responsive partner ever
since. I have felt like a valued client—professionally
and personally.”
Customer Profiles
An automobile dealership’s debt requirements are
quite different from those of other types of businesses,
according to Moore. And, unlike other local banks he
had spoken with, EagleBank did not need any secondary
lenders to fund his loan.
“EagleBank was willing to listen, in order to understand
our unique needs and the underlying value of the firm,”
he says. “They were able to measure our risk profile from
a very customized standpoint.”
“I have felt like a valued client—
professionally and personally.”
—Joe Moore III, President, Moore Cadillac
Although Moore Cadillac has only been an EagleBank
customer for a little more than a year, Moore can already
say: “EagleBank has given me the confidence that I have
a partner who will stand by me. Any bank can produce
a term sheet, but are they invested in their clients?”
he says. “EagleBank truly supports and encourages
business growth and success.”
Large enough to know how.
Our success allows us to do bigger things for bigger customers—with the same
first-name approach as when we started.
PN Hoffman
Real team players.
PN Hoffman is a real estate development company
operating in a world of complicated, multi-pronged
deals and fast closings. When ventures don’t conform
to conventional solutions, creativity and long-term
relationships are what the company values most. And
that’s where EagleBank comes in.
PN Hoffman has been working with EagleBank for 10
years now, benefiting from the latter’s local expertise. The
leadership at EagleBank works with and understands
the retail and multifamily markets and real estate
neighborhoods and industry in Washington, DC. And, as
EagleBank has grown and earned “big bank” strength,
it has stayed true to its community roots, making it a
valuable business partner.
Beyond its wealth of local resources, EagleBank’s
accessible local leadership is what truly makes it
PN Hoffman’s bank of choice.
“Every one of their staff members, all the way up to the
chairman, is accessible,” says Monty Hoffman, Founder/
CEO of PN Hoffman. “The professionals we work with
at EagleBank are helpful and share a sense of vesting
in solving problems. This is critical to our fast-paced
environment, especially in the real estate industry, where
timing is everything. I see EagleBank as a critical partner
and for that I look forward to more deals together.”
“ From leadership to the entire team,
each EagleBank representative
becomes a part of our team.”
—Monty Hoffman, Founder/CEO, PN Hoffman
14
EAGLEBANK ANNUAL REPORT 2015
15
Eyebrow Small enough to know you.
As a community bank, we believe in the power of putting relationships first
for all our customers, large and small.
Customer Profiles
Foulger-Pratt
A matter of trust.
For more than 50 years, Foulger-Pratt has been a
leader in developing mixed-use, transit-oriented projects
throughout the DC area. In such a capital-intensive
business, the company naturally maintains relationships
with a number of financial institutions, including some of
the biggest national banks.
But Foulger-Pratt has also been an EagleBank customer
since the Bank’s inception in 1998. Because EagleBank
offers a responsive attitude and a personal touch no
national bank can.
“Flexibility is what sets EagleBank apart,” says Cameron
Pratt, CEO of Foulger-Pratt. “We’ve done some good
work with national banks, but they can be rigid. The
people at EagleBank are creative—and they can make
decisions quickly,” he says. “It’s the difference between
dealing with a bureaucracy versus dealing with a person
you know and trust,” Pratt adds.
That person, in this case, would be Ron Paul, chairman
and CEO of EagleBank. “I can call Ron anytime,” says
Pratt, whether to talk business or just to catch up over
lunch. “And hardly a week goes by that I don’t run into
Ron at a community event of some kind,” Pratt says.
Such encounters foster an awareness that both men
and both companies are working together to build a
stronger community.
“Flexibility is what sets EagleBank
apart.” —Cameron Pratt, CEO, Foulger-Pratt
“EagleBank has confidence in us,” says Pratt, “and
Foulger-Pratt has confidence in EagleBank. There’s
a mutual trust.” That makes for a mutually beneficial
business relationship.
Criterion Systems, Inc.
Understanding success.
Northern Virginia is well known as the home of numerous
federal government contractors. One of the fastest
growing over the last several years is Criterion Systems,
Inc., a 100 percent employee-owned IT services
company based in Vienna, VA.
“EagleBank reflected a solid
understanding of federal government
contracting.” —Promod Sharma,
President & CEO, Criterion Systems, Inc.
The company has been growing at such a rate, in fact,
that by early 2015 it had outgrown its bank. Criterion
needed a bigger bank with greater capabilities—but it
also needed a bank with a deep understanding of federal
government contracting.
EagleBank’s phenomenal growth and locally focused
expertise made it the perfect fit.
“As a small business, you want a bank that is flexible and
creative,” says Promod Sharma, president and CEO of
Criterion Systems. “We came to EagleBank for a line of
credit,” he says, “and in a year we have already doubled
it. Not every bank would do that.”
EagleBank’s growing financial strength is important to
Criterion’s continuing growth. “EagleBank is there for us,”
says Sharma. “Our partnership is allowing us to go after
bigger and bigger contracts,” he explains.
Beyond its flexibility and financial capabilities, Sharma
says, “EagleBank reflected a solid understanding of
federal government contracting. Plus, they have been
very easy to work with, responsive to every request,” he
adds. As a result, he says with a laugh, “We may not be
a small business much longer.”
16
EAGLEBANK ANNUAL REPORT 2015
17
Kioko Logistics
Small business is a big deal.
In 2014, when Rosemary Kioko was setting up a trucking
company with the help of her father, she sought a small-
business loan from the big-name national bank they had
dealt with for years.
That bank said no. “‘Too risky,’” Kioko recalls hearing.
Fortunately, the Maryland Women’s Business Center
suggested that Kioko contact EagleBank, one of
the DC area’s biggest supporters of Small Business
Administration efforts to help small businesses thrive—
especially minority- and woman-owned ones.
“EagleBank was a lifesaver.”
—Rosemary Kioko, CEO, Kioko Logistics
From the first meeting with EagleBank, Kioko was
impressed. “It was amazing,” she says. “They really do
take the time to get to know you—where your company
is now, where you want to go. Then they come up with
ideas you didn’t even know were possible.”
“With our national bank, we got no personal attention,
no guidance,” says Kioko, now CEO of Kioko Logistics.
“All we got was a big ‘No.’ EagleBank was a lifesaver.
Without them, I don’t know if we could have made it.”
Besides enjoying the first-name basis of her new
banking relationship, Kioko likes that EagleBank
appreciates the vital importance of small businesses
to the community. “When a small business like ours
grows, it enables us to hire more workers—people from
our neighborhood, or from across town,” says Kioko.
“The whole community benefits.”
Somerset Development Company
Making it happen.
Customer Profiles
Somerset Development Company came to EagleBank
with Matt Leydig, senior vice president, EagleBank, in
2010. After working with Matt and building a relationship,
they were certain the transition to EagleBank would
be smooth. However, the community-bank mentality
with big-bank capabilities quickly became a huge asset
for Somerset.
One particular opportunity for the development company
soon demonstrated that EagleBank was the financial
partner for them. The Portner Project, an effort to
preserve affordable housing in the DC metro area, was
a complicated deal—the loan was large and it was tricky.
“EagleBank was flexible in looking at the form of collateral
in our initial working capital loan for our company,” says Nancy
L. Hooff, one of the two founding principals of Somerset.
“They were willing and able to analyze and work through
the unique complexities of the Portner Place loan,” says
Bill Whitman, development partner at Somerset.
“EagleBank has a greater willingness
to consider unique particulars of our
transaction.” —Bill Whitman, Development Partner,
Somerset Development Company
But it wasn’t just the Bank’s capacity to handle such
a large-scale loan that sealed the deal. Somerset and
EagleBank were able to problem solve together in order
to create a specialized solution to make the project
happen—something that would have been a lot harder
to do with a national bank.
“Having a bank as responsive as EagleBank was a huge
advantage during the Portner process. If we needed to talk
to someone, we had them on the phone immediately and
they would always help us find answers,” says Bill. “It’s that
kind of openness that makes them—and us—so successful.”
From left to right: William Whitman, development partner; Nancy L.
Hooff, founding principal; James D. Campbell, founding principal
18
EAGLEBANK ANNUAL REPORT 2015
19
Properties and Locations
20
EAGLEBANK ANNUAL REPORT 2015
21
It takes a team.
Anyone in business knows: You’re only as good as your people.
Our Employees
EagleBank’s continuing growth, success, leadership,
and community spirit speak volumes about the high
quality—and inspiring qualities—of our team.
Every day, our employees put the human face on our
mantra of “Relationships first.” Whatever their individual
roles and responsibilities, our employees bring the passion
that solves problems, the expertise that engenders
confidence, and the friendliness that earns smiles.
And not just during business hours: Our employees
are generous with their time and talents in support of a
wide variety of charities and community organizations.
The EagleBank team now numbers over 425—and
growing, just like the bank they represent. They know
that EagleBank is a thriving, rewarding, and meaningful
place to work, full of opportunities for personal and
professional growth. Thanks to our team, EagleBank
is a place of which we can all be proud.
22
EAGLEBANK ANNUAL REPORT 2015
23
Leadership
Corporate Information
Board of Directors
Executive Officers
Ronald D. Paul *
Chairman, President & Chief Executive Officer of
Eagle Bancorp, Inc.; Chairman & Chief Executive Officer
of EagleBank; President of Ronald D. Paul Companies
Ronald D. Paul
Chairman, President & Chief Executive Officer
of Eagle Bancorp, Inc.; Chairman & Chief Executive
Officer of EagleBank
Susan G. Riel
Executive Vice President of Eagle Bancorp, Inc.;
Senior Executive Vice President & Chief Operating
Officer of EagleBank
Laurence E. Bensignor, Esquire
Executive Vice President & General Counsel
of Eagle Bancorp, Inc. and EagleBank
Charles C. Brockett, CPA
Executive Vice President & Director of Operations
of EagleBank
James H. Langmead, CPA
Executive Vice President & Chief Financial Officer
of Eagle Bancorp, Inc. and EagleBank
Antonio F. Marquez
Executive Vice President & Chief Commercial Real
Estate Lending Officer of EagleBank
Lindsey S. Rheaume
Executive Vice President & Chief Commercial &
Industrial Lending Officer of EagleBank
Janice L. Williams, Esquire
Executive Vice President & Chief Credit Officer
of EagleBank
Robert P. Pincus *
Vice Chairman of Eagle Bancorp, Inc.;
Vice Chairman of EagleBank
Leslie M. Alperstein, Ph.D. *
President & Chief Executive Officer
of Washington Analysis, LLC
Thomas E. Burdette **
Managing Partner of Burdette Smith and Bish, LLC
Joann Kay DiMeglio **
Principal of JKD Management, LLC
Dudley C. Dworken *
Principal of Dworken Associates, LLC
Steven L. Fanaroff **
Managing Director of Fanaroff & Steppa, LLC
& Bedrock Asset Management
Harvey M. Goodman *
President & Chief Executive Officer
of Goodman-Gable-Gould/Adjusters International
Benson Klein, Esquire **
Principal of Ward & Klein, Chartered
Bruce H. Lee **
President & Chief Executive Officer
of Lee Development Group
Norman R. Pozez *
Chairman & Chief Executive Officer
of Uniwest Companies
Kathy A. Raffa, CPA **
Vice President & Partner of Raffa, PC
Donald R. Rogers, Esquire *
Principal of Shulman Rogers Gandal Pordy & Ecker, PA
James A. Soltesz, P.E. **
President & Chief Executive Officer of Soltesz, Inc.
Benjamin M. Soto, Esquire **
President & Chief Executive Officer
of Premium Title & Escrow, LLC
Leland M. Weinstein *
Chief Executive Officer of Newbridge-Turing, LLC
*Director of EagleBank and Eagle Bancorp, Inc.
**Director of EagleBank only
Annual Meeting
Bethesda Marriott Hotel
5151 Pooks Hill Road
Bethesda, MD 20814
Thursday, May 12, 2016, 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
Vice President & Corporate Secretary
Eagle Bancorp, Inc.
7830 Old Georgetown Road, Third Floor
Bethesda, MD 20814
240.497.2041
jcornett@EagleBankCorp.com
For more 2015 financial information about
Eagle Bancorp, visit our Investor Relations page
at www.EagleBankCorp.com.
Corporate Offices
7830 Old Georgetown Road, Third Floor
Bethesda, MD 20814
301.986.1800
Investor Relations
Michael T. Flynn
Eagle Bancorp, Inc.
7830 Old Georgetown Road, Third Floor
Bethesda, MD 20814
240.497.2040
mflynn@EagleBankCorp.com
Counsel
BuckleySandler, LLP
1250 24th Street, NW
Suite 700
Washington, DC 20037
Stock Exchange Listing
Common shares of Eagle Bancorp are traded on the
NASDAQ Capital Market under the symbol EGBN.
Independent Registered
Accounting Firm
Transfer Agent and Registrar
Computershare Trust Company, NA
P.O. Box 30170
College Station, TX 77842-3170
1.877.282.1168
www.computershare.com
Stegman & Company *
809 Glen Eagles Court
Suite 200
Baltimore, MD 21286
*To be admitted as partners and employees of Dixon Hughes
Goodman effective June 2016.
EagleBank:
Member Federal Deposit Insurance Corporation
Equal Housing Lender
Member Federal Reserve System
Member Federal Home Loan Bank of Atlanta
Affirmative Action/Equal Opportunity Employer
©2016 Eagle Bancorp, Inc.
24
EAGLEBANK ANNUAL REPORT 2015
25
Virginia
Ballston
4420 N. Fairfax Drive
Arlington, VA 22203
571.319.4800
Chantilly
13986 Metrotech Drive
Chantilly, VA 20151
703.378.0010
Dulles Town Center
45745 Nokes Boulevard
Sterling, VA 20166
703.230.1515
Fairfax
11166 Fairfax Boulevard
Fairfax, VA 22030
703.359.4100
Merrifield
2905 District Avenue
Fairfax, VA 22031
571.319.4900
Old Town Alexandria
277 S. Washington Street
Alexandria, VA 22314
703.956.5075
Reston
12011 Sunset Hills Road
Reston, VA 20190
571.319.4848
Rosslyn
1919 N. Lynn Street
Arlington, VA 22209
571.319.4855
Tysons Corner
8245 Boone Boulevard
Tysons Corner, VA 22182
703.752.9360
Other Offices
Commercial Deposit Services
2001 K Street, NW
Suite 150
Washington, DC 20006
202.292.1630
Commercial Lending
7830 Old Georgetown Road
Bethesda, MD 20814
240.497.2049
2001 K Street, NW
Suite 150
Washington, DC 20006
202.292.1624
8245 Boone Boulevard
Suite 820
Tysons Corner, VA 22182
703.277.2200
FHA Multifamily Lending
8245 Boone Boulevard
Suite 820
Tysons Corner, VA 22182
703.277.2200
Residential Real Estate Lending
6010 Executive Boulevard
Suite 300
Rockville, MD 20852
301.738.7200
12011 Sunset Hills Road
Reston, VA 20190
571.447.5356
8245 Boone Boulevard
Suite 820
Tysons Corner, VA 22182
703.277.2200
Eagle Insurance Services, LLC
7830 Old Georgetown Road
Bethesda, MD 20814
240.497.2061
Investment Advisory Services
7830 Old Georgetown Road
Bethesda, MD 20814
240.497.1788
Maryland
Bethesda
7815 Woodmont Avenue
Bethesda, MD 20814
240.497.2044
Chevy Chase
5480 Wisconsin Avenue
Chevy Chase, MD 20815
301.280.6800
Opens Spring 2016
Park Potomac
12505 Park Potomac Avenue
Potomac, MD 20854
301.444.4520
Rockville
110 North Washington Street
Rockville, MD 20850
301.738.9600
Rollins Avenue
130 Rollins Avenue
Rockville, MD 20852
301.287.8500
Shady Grove
9600 Blackwell Road
Rockville, MD 20850
301.762.3076
Silver Spring
8665-B Georgia Avenue
Silver Spring, MD 20910
301.588.6700
Washington, DC
Dupont Circle
1228 Connecticut Avenue, NW
Washington, DC 20036
202.466.3161
Gallery Place
700 7th Street, NW
Washington, DC 20001
202.628.7300
Georgetown
3143 N Street, NW
Washington, DC 20007
202.481.7025
Opens Summer 2016
K Street
2001 K Street, NW
Washington, DC 20006
202.296.6886
McPherson Square
1425 K Street, NW
Washington, DC 20005
202.408.8411
Branch Locations
MD
Rockville
Potomac
270
MONTGOMERY
COUNTY
95
LOUDOUN COUNTY
Sterling
Reston
Chantilly
RHQ
Tysons Corner
FAIRFAX COUNTY
Merrifield
Fairfax
VA
Number of Branches
Virginia
Maryland
Washington, DC
Total
9
7
5
21
HQ
Corporate Headquarters
RHQ
Regional Headquarters
495
HQ
Silver Spring
Bethesda
DC
RHQ
Rosslyn
66
ARLINGTON
395
ALEXANDRIA
495
295
26
EAGLEBANK ANNUAL REPORT 2015 27
Golf Tournament
Mission Statement
Our Mission
We have a mission to be
the most respected and
profitable community bank.
To do this, we put relationships first to the delight of our customers, employees
and shareholders and relentlessly deliver the most compelling service and value.
EagleBank Foundation 2015 Fight Against Breast
Cancer Golf Classic Raises Over $380,000
Our Values
Proceeds from the 11th Annual EagleBank Foundation
Fight Against Breast Cancer Golf Classic, held on
October 12, 2015, at the Woodmont Country Club,
support research and outreach programs through
partnerships with these local hospitals and organizations:
The Breast Cancer Research Foundation
The Children’s Inn at The National Institutes of Health
Critters for the Cure
Hope Connections for Cancer Support
Lolly’s Locks
Primary Care Coalition of Montgomery County
Providence Hospital
Shady Grove Adventist Hospital
Suburban Hospital
Washington Hospital Center
Since the first golf tournament in 2005, the Foundation
has raised over $2,500,000 for the benefit of local
hospitals and organizations in their fight against breast
cancer. These funds have enabled hospitals and other
cancer-focused organizations in our community to
continue research and provide support services—all
dedicated to ending breast cancer.
“Breast cancer is an issue that touches nearly
everyone—we all know someone who has been
affected by this disease,” says Don Rogers of Shulman
Rogers, a director of EagleBank and the chairman
of the EagleBank Foundation. “We are so grateful for
the tremendous generosity of our sponsors, players,
contributors and volunteers, who, year after year,
have helped make this tournament such a success.
Their participation has been crucial in assisting us in
accomplishing our fundraising goals. By providing
this much-needed funding for research at these well
deserving local hospitals and for patient care and
support, we are hopeful that our efforts will play a role in
the prevention and a cure for breast cancer in our lifetime.”
“Raising public awareness for breast cancer is so
critical,” says EagleBank’s chairman and CEO Ron Paul.
“As a local, business bank, it is extremely important to
us to be good corporate citizens—it is part of our daily
mission. Our golf tournament is one way we give back to
our community. The generous donations of individuals
and corporations for these past 11 years—and the
passion and hard work of our Committee members and
everyone else involved in organizing this tournament—
have enabled us to raise substantial funds to help fight
the devastating effects that breast cancer has on all who
are touched by it. We are thankful to everyone for their
continued support of our efforts to save more lives and
help with the fight against this disease.”
28
F L E X I B L E - We begin our relationships based on our time-tested tradition of listening
to our customer, collaborating with colleagues and designing a comprehensive, creative
solution that brings value to and appreciation from our customer. We enhance the
relationship with empowered, ‘Yes, We Can’ service and live up to our strong belief that
formulas don’t make good banking sense, relationships do. Be entrepreneurial—it is
our differentiator.
I N V O L V E D - We build our relationship by developing a rapport that is based on
partnership, mutual respect and a desire to delight. We are unwavering in our commitment
to the goals and growth of our customers, colleagues and community through volunteerism.
We believe that doing the little extras and staying involved with our customer demonstrates
our difference.
R E S P O N S I V E - We shape our relationships by taking ownership for being ever-
responsive, from beginning to end, day in and day out. We understand that reliable, accurate
and time-sensitive communication is fundamental to preserving reputation and relationships,
internally and externally.
S T R O N G - We strengthen our relationships each time we are called upon for our
expertise and know-how. We are committed to enhancing our professional knowledge in
order to remain credible, current and strong partners with our customers, colleagues and
community. Our history of sustaining a well-capitalized and profitable position emphasizes
our strength and reinforces our relationships.
T R U S T E D - We uphold our relationships with honesty, openness and reliability. We can
be counted on to do “the right thing.” We understand that underlying a sound, long-lasting
relationship is the essential element of trust. Trust can be lost in a moment, so we are vigilant
in our actions and words.
EagleBankCorp.com