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 Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March20, 2019, Ronald D. Paul, Chairman, President and Chief Executive Officer of Eagle Bancorp,Inc. (the “Company”), and Chairman and Chief Executive Officer of the Company’s wholly owned subsidiary, EagleBank (the “Bank”), advised the Board of Directors of his retirement, effective immediately, from all positions as an officer and director of the Company, the Bank and their subsidiaries. Mr.Paul indicated that his decision was the result of serious health developments which would substantially interfere with his ability to perform his duties and obligations to the Company and the Bank.
The Board of Directors of the Company has elected Vice Chair, Norman R. Pozez, to succeed Mr.Paul as Chair of the Board of Directors. The Board of Directors of the Company have appointed Susan G. Riel, Executive Vice President of the Company and Senior Executive Vice President and Chief Operating Officer of the Bank, to succeed Mr.Paul as Interim President and Chief Executive Officer of the Company and the Bank. The Board of Directors will review alternatives for a permanent successor over the coming weeks.
The Company issued a press release on March21, 2019 announcing Mr.Paul’s retirement, a copy of which is attached as Exhibit99.1 hereto.
EAGLE BANCORP INC Exhibit
EX-99.1 2 a19-7164_1ex99d1.htm EX-99.1 Exhibit 99.1 PRESS RELEASE EAGLE BANCORP,…
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About Eagle Bancorp,Inc. (NASDAQ:EGBN)
Eagle Bancorp, Inc. is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area. The Bank also provides commercial banking services. The Bank’s loan portfolio includes traditional business and real estate secured loans. The Bank offers a range of retail banking services, cash management, online banking, mobile banking and remote deposit services. The Company maintains a portfolio of short term investments and investment securities. The Bank’s sources of funds are deposits, including demand deposits, negotiable order of withdrawal accounts, money market accounts and savings accounts.