EGBN Eagle Bancorp Inc

BETHESDA, Md., Oct. 25 /PRNewswire-FirstCall/ -- EagleBank's (NASDAQ:EGBN) Commercial Lending Group came to the assistance of Randolph Towers' residents and provided the 20-million-dollar construction loan for refurbishing the 137-unit apartment building at 14th and Randolph Streets in Washington, DC. (Logo: http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO ) Under a District of Columbia program that allows tenants to purchase their own building, the loan will let residents take this project into their own hands, fix it up, then buy their own units. EagleBank has participated in other such projects in the past. "This sort of loan is one which gives our bank a lot of satisfaction," commented Ronald D. Paul, President and CEO of Eagle Bancorp, Inc. and Chairman and CEO of EagleBank. "Residents pulling together and supporting the building they call 'home' so that they can purchase a restored, safe and updated unit is a win-win situation for the homeowners, the city and the neighborhood. EagleBank is proud to be a part of this worthwhile project," he concluded. Mayor Fenty and other City and Dept. of Housing and Community Development officials attended a Groundbreaking held at the site on October 18th, 2007. EagleBank was proudly lauded as the bank with the most knowledge and expertise on tenant conversion financing in the DC metro area. About EagleBank and Eagle Bancorp, Inc ... Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, DC. The Company focuses on serving the financial needs of commercial and real estate customers, small businesses, professionals, and non-profit organizations in its marketplace. To fulfill a dedicated commitment to community service, a charitable foundation was established in 2006: The EagleBank Foundation. http://www.eaglebankmd.com/ EAGLEBANK CONTACT: Tom Murphy, 301.986.1800 http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO http://photoarchive.ap.org/ DATASOURCE: EagleBank CONTACT: Tom Murphy of EagleBank, +1-301-986-1800 Web site: http://www.eaglebankmd.com/

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