Reported 5 months ago
Eagle Bancorp in Bethesda, Maryland, recently filed a shelf registration statement to raise up to $150 million, providing flexibility to increase debt or issue stock over three years. The move follows a first-quarter loss and a significant credit provision related to a Washington office property. Despite challenges in its commercial real estate portfolio, Eagle's CFO emphasized the company's strong core earnings and manageable credit quality issues. The registration offers options to raise funds if needed to address further credit challenges, with the bank confident in its diverse loan book resilience.
Source: YAHOO