Eagle Bancorp, Inc. Announces Cash Dividend and New Repurchase Program
15 December 2022 - 8:15AM
Eagle Bancorp, Inc. (the “Company”) (NASDAQ: EGBN), the parent
company for EagleBank, today announced a cash dividend for the
fourth quarter of 2022, in the amount of $0.45 per share. The cash
dividend will be payable on January 31, 2023 to shareholders of
record on January 5, 2023.
Additionally, the Board of Directors adopted a
new share repurchase program to take effect starting January 1,
2023, after the expiration of the current repurchase program on
December 31, 2022. The Board of Directors authorized the repurchase
of 1,600,000 shares of common stock, or approximately 5% of the
Company’s outstanding shares of common stock, under the new
repurchase program, which will expire on December 31, 2023, subject
to earlier termination of the program by the Board of
Directors.
About Eagle Bancorp: The
Company is the holding company for EagleBank, which commenced
operations in 1998. The Bank is headquartered in Bethesda,
Maryland, and operates through sixteen branch offices, located in
Suburban Maryland, Washington, D.C. and Northern Virginia. The
Company focuses on building relationships with businesses,
professionals and individuals in its marketplace.
Caution About Forward-Looking
Statements This press release contains forward-looking
statements within the meaning of the Securities 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. These forward-looking statements are based on current
expectations that involve risks, uncertainties and assumptions,
including the impacts of the novel coronavirus pandemic and the
volatility and uncertainty in global markets and economies. Because
of these uncertainties and the assumptions on which the
forward-looking statements are based, actual future operations and
results in the future may differ materially from those indicated
herein. Readers are cautioned against placing undue reliance on any
such forward-looking statements. 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, 2021 and other filings with
the SEC. Except as required by law, the Company does not undertake
to update forward-looking statements contained in this release.
EagleBank ContactDave Danielson240.552.9534
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