Eagle Bank of Rossyln courtesy of aiadc.com
EagleBank is soaring above competitors in performance, and making moves locally to assert influence as the local bank on the rise. The $300 million strong bank out of Bethesda is gaining national attention in recent weeks for the bank’s excellent performance. EagleBank was in the spotlight six weeks earlier as the termination of the merger agreement with Alliance Bank was announced. The undisclosed terms of non-agreement were not disclosed back in November, but three events in relation to EagleBank make deductive reasoning behind the decision to walk away from the Alliance Bank merger. Eagle Bank was featured as 1 of 3 bank stocks in America with a “big upside” on MSN Money. SmarTrend went public to investors in a recommendation of buying Eagle Bank stock, and SmarTrend did release an article on Tuesday to boast of EagleBank’s(Eagle Bancorp: EGBN) 17.8% return to date from October’s recommendation. The big news was the shares upgrade of Eagle Bank’s(Eagle Bancorp: EGBN) from neutral to outperform by Zacks Investment Research. EagleBank success was attributed to strong fundamentals, excellent management team, engaged insider buying of bank shares as stated by MSN Money, SmarTrend, and Zacks.
The additional story behind the success of EagleBank is the recent moves by the DC City Council to approve a measure to transfer city funds from much larger Bank of America to the smaller locals institutions, and the banks benefiting from the deposits of funds will be required to lend out 200% of the deposit amount to small businesses in Washington, DC proper. The council did approve the proposal with a vote of 12 of 13 in favor of the measure. The author of the bill was not a DC Council member, but Bob Pincus, EagleBank vice chairman and friend of the DC Council member who brought the bill up for consideration. The Washington Business Journal did make attempt to contact all parties involved to insure that EagleBank and the DC Council did not violate ethical standards. Ethical standards being pushed aside. Eagle Bank is aware of the opportunity available in the Washington, DC, and maximize all opportunities to give some competitive advantages from the mega banks to small but strong EagleBank. The vice chairman being very capable of structuring policy for consideration does speak to the dynamic of the management team.
As a result of the economic environment, many smaller institutions are struggling or experiencing slower growth than before the 2008 crisis period. EagleBank is bucking the trends of many smaller institutions, and the recent national exposure shows that EagleBank soars above the fold in revenue, shares, and fundamentals. Many other institutions are frozen with non-performing assets or loans on the books leaving a stagnant banking institution in its wake. EagleBank looks to the sky.
Find out more about EagleBank at eaglebankcorp.com or contact donny@donnywise.com or visit donny-wise.com.
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