EGBN Eagle Bancorp Inc

EagleBank New CD Service Increases Access to FDIC Insurance for Its Customers We Now Offer the Highest Level of Security for the Investor Who Has a Larger Cash Portfolio, and Seeks a Safe Haven in Today's Uncertain Economy BETHESDA, Md., March 29 /PRNewswire/ -- EagleBank today announced its new CDARS(SM) program, the Certificate of Deposit Account Registry Service(SM), which provides a secure savings option for consumers, small businesses, nonprofits and corporations with large cash reserves. For the first time since FDIC insurance coverage was increased more than two decades ago, EagleBank has a new tool to provide customers with access to greater FDIC insurance coverage. FDIC insurance protects customers' deposits by providing the backing of the federal government. "We are proud to bring the convenience and efficiency of the CDARS program to our customers," said Michael T. Flynn, President & CEO. "We think it will be very helpful to consumers who are saving for retirement, a home mortgage or college tuition, as well as to small businesses, public-sector organizations, and nonprofit groups, such as churches." Using CDARS, EagleBank can distribute customer funds among other FDIC- insured banks and thrifts, allowing customers to manageall their CDs through one relationship. All statements come from EagleBank and no confidential customer information is ever transferred to the other financial institutions issuing CDs. In addition, the CDARS system distributes to EagleBank the same amount of funds that it transfers out to other banks; this boosts the amount of funding available to be put to work in the local community. "CDARS enables us to offer our customers the convenience of local relationship banking with the security of investing in FDIC insured deposits. Also, by helping to keep deposits in the community, CDARS helps make more credit available locally," said Michael T. Flynn, President & CEO. DATASOURCE: EagleBank CONTACT: Thomas D. Murphy of EagleBank, +1-240-497-2042 Web site: http://www.eaglebankmd.com/

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