Eagle Bancorp,Inc. (NASDAQ:EGBN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Executive Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February12, 2018, Kathy A. Raffa was appointed to fill a newly created vacancy on the Board of Directors of Eagle Bancorp,Inc. (the “Company”). Ms.Raffa has served as a director of EagleBank, the Company’s wholly owned subsidiary, since March2015. Ms.Raffa is expected to serve as a member of the Company’s Audit Committee, and will continue to serve on EagleBank’s Directors’ Loan Committee and Information Technology Committee.
Ms.Raffa, 59, is an the President of Raffa, PC, based in Washington, DC. Ms.Raffa is a leader of this woman-owned accounting, consulting and technology firm, in which 12 of the 19 partners are women. She oversees client services for a wide range of nonprofit entities, and serves as an audit partner. She also leads a variety of aspects of the firm’s internal operations and business development. Prior to Raffa, PC, she spent the first 10 years of her career at Coopers& Lybrand (now PricewaterhouseCoopers). She has a CPA certificate from the District of Columbia and Maryland, and is a member of the American Institute of Certified Public Accountants. She currently serves as a trustee on several boards, including Trinity Washington University (where she chairs the Finance Committee and previously chaired the Audit Committee), the advisory board of Levine Music (where she was formerly the Board Chair), and the Federal City Council. Ms.Raffa holds a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.
There are no arrangements or understandings between Ms.Raffa and any other person to which she was selected as director. Ms.Raffa and her related persons from time to time have may have banking transactions (potentially including loan and deposit transactions) with EagleBank. Such transactions will be in the ordinary course of business, on substantially the same terms, including interest rates, maturities and collateral requirements, as those prevailing at the time for comparable transactions with non-affiliated persons and do not involve more than the normal risk of collectability or present other unfavorable features. Other than eligibility for fees (including grants of awards under the Company’s equity compensation plan) for service as a member of the Company and EagleBank Boards of Directors, as described in the Company’s proxy materials for the Annual Meeting of Shareholders held on May18, 2017 (and as subject to periodic adjustment), Ms.Raffa is not a party to any material plan, contract or arrangement entered into or materially amended in connection her appointment to the Board of Directors of the Company.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
99.1 Press Release dated February16, 2018
