EagleBank Expands Its Residential Mortgage Lending Division
08 June 2010 - 5:04AM
EagleBank today announced that it has expanded its Residential
Mortgage Lending Division with the addition of five new mortgage
originators. These additions to the Division are expected to
substantially increase mortgage production volume and provide
further growth for the bank.
Nationally recognized mortgage originator Bradley Cohen is among
those joining EagleBank. In 2009, Cohen originated over $175
million in mortgages, and placed #12 in the country. His
success and his ability to remain a leader in today's mortgage
industry come directly from referrals that are built on trusting
relationships he has nurtured and maintained. Paul Harsanyi
(Ranked #142 in 2009) and Laurent Berman (Ranked #168 in 2009) have
also joined EagleBank as senior mortgage
bankers. Additionally, Jeffrey Fink and Harris Rosenblatt have
joined the EagleBank mortgage team as mortgage loan
originators. This group chose to join EagleBank because of its
outstanding reputation for matching loan products to customer needs
and providing superior individual customer attention—which matches
that of EagleBank's Residential Mortgage Lending
Division. Cohen, Harsanyi, Berman, Fink and Rosenblatt will
enhance and strengthen EagleBank's quality of service and loan
production capabilities. This new mortgage team will be
located at Park Potomac Place, off I-270 and Montrose Road in
Potomac, Maryland. Ultimately, the entire residential lending
team will be housed at the Park Potomac location.
"We are excited about the expansion of our Residential Mortgage
Lending Division. These new, highly-experienced mortgage
producers will help us deliver on our promise to better serve our
customers and increase our array of products," stated Ronald D.
Paul, Chairman and Chief Executive Officer of EagleBank.
"This also gives us a great opportunity to increase
non-interest income, as virtually all of these loans will be sold
into the secondary markets and not held in the bank's
portfolio."
Brad Cohen stated, "It is exciting to be joining a bank that is
so committed to the local community and to providing customers with
exceptional service and competitive rates. EagleBank will continue
to offer a large selection of mortgage products such as FHA
financing as well as conventional and VA loans. These loans
are in addition to the land loans, construction loans, and home
equity lines of credit also available through the
bank."
ABOUT EAGLE BANCORP, INC. AND EAGLEBANK
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 banking services
through thirteen offices, located in Montgomery County, Maryland,
Washington, D.C. and Northern Virginia. The Company focuses on
building relationships with businesses, professionals and
individuals in its marketplace.
The EagleBank logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6102
Forward-looking Statements: This press release
contains forward-looking statements within the meaning of the
Securities and Exchange Act of 1934, as amended, including
statements of goals, intentions, and expectations as to future
trends, plans, events or results of Company operations and policies
and regarding general economic conditions. In some cases,
forward-looking statements can be identified by use of words such
as "may," "will," "anticipates," "believes," "expects," "plans,"
"estimates," "potential," "continue," "should," and similar words
or phrases. These statements are based upon current and anticipated
economic conditions, nationally and in the Company's market,
interest rates and interest rate policy, competitive factors, and
other conditions which by their nature, are not susceptible to
accurate forecast and are subject to significant uncertainty.
Because of these uncertainties and the assumptions on which this
discussion and the forward-looking statements are based, actual
future operations and results in the future may differ materially
from those indicated herein. For details on factors that could
affect these expectations, see the risk factors and other
cautionary language included in the Company's Annual Report on Form
10-K for the year ended December 31, 2009 and in other periodic and
current reports filed with the SEC. Readers are cautioned
against placing undue reliance on any such forward-looking
statements. The Company's past results are not necessarily
indicative of future performance.
www.eaglebankcorp.com
CONTACT: EagleBank
Michael T. Flynn
240.497.2040
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