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8-K - FORM 8-K - EAGLE BANCORP INC | f8k_090110.htm |
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Ticker: EGBN
www.eaglebankcorp.com
www.eaglebankcorp.com
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Forward Looking Statements
This presentation 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. 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 and other periodic and current reports filed with the
SEC. 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. 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. The Company does not undertake to publicly revise or update forward-
looking statements in this presentation to reflect events or circumstances that arise after the date
of this presentation, except as may be required under applicable law.
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. 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 and other periodic and current reports filed with the
SEC. 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. 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. The Company does not undertake to publicly revise or update forward-
looking statements in this presentation to reflect events or circumstances that arise after the date
of this presentation, except as may be required under applicable law.
For further information on the Company please contact: Michael T. Flynn
Executive Vice President
240-497-2040
mflynn@eaglebankcorp.com
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History of Growth
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*1997, 2003 and 2009 subscription offerings were over subscribed
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Summary Statistics - June 30, 2010
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Company Overview
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Bethesda, Maryland
o $1.9 billion in assets, focused on Washington, DC Metro Area with 13 branches
o Commercially oriented business model with deep relationships on loan and deposit side
of balance sheet
o 2nd largest bank headquartered in Maryland by Assets and Market Capitalization
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money center banks
o Growth oriented culture based on sales and service
o Provides customers with immediate access to senior management/decision-makers with
local market knowledge
o Largest deposit market share in Washington, DC (proper) of any locally-based bank, and
6th largest locally-based bank in the Metro Area
6th largest locally-based bank in the Metro Area
o Quickly becoming the leading community bank in the Washington, DC Metro Area
Note: Financial data at June 30, 2010. Deposit market share data as of June 30, 2009.
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EagleBank Locations
Tyson's Corner
Montgomery County
Prince George’s
County
County
Alexandria
Arlington
Fairfax County
Loudoun
County
County
Washington, DC
Reston
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Why Invest in EGBN?
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Financial Indicators - Regional Peer Analysis
Note: Regional peers includes publicly-traded commercial banks with Assets between $1 and $5 billion and headquartered in Washington, DC, Virginia, West Virginia, Maryland, Pennsylvania and
Delaware who reported at all reporting periods shown above
Delaware who reported at all reporting periods shown above
Source: SNL Financial
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Financial Indicators - Local Peer Analysis
Note: Local peers in the Washington D.C. metro area: Access National Bank, Alliance Bank Corp., Cardinal Bank, Community Bank of Tri-County, Frederick County Bank, Sandy Spring Bank and Virginia
Commerce Bank.
Commerce Bank.
Source: SNL Financial
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Consistent Balance Sheet Growth
(1) Regional peers includes publicly-traded commercial banks with assets between $1 and $5 billion and headquartered in Washington, DC, Virginia, West Virginia, Maryland, Pennsylvania and Delaware
who reported total assets at all reporting periods shown above
who reported total assets at all reporting periods shown above
Source: SNL Financial
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Net Income
(1) Regional peers includes publicly-traded commercial banks with assets between $1 and $5 billion and headquartered in Washington, DC, Virginia, West Virginia, Maryland, Pennsylvania and Delaware
who reported net income or loss for all reporting periods shown above
who reported net income or loss for all reporting periods shown above
Source: SNL Financial
$3,447
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Pre-Tax, Pre-Provision Income
(1) Regional peers includes publicly-traded commercial banks with assets between $1 and $5 billion and headquartered in Washington, DC, Virginia, West Virginia, Maryland, Pennsylvania and
Delaware who reported pre-tax pre-provision net revenues for all reporting periods shown above
Delaware who reported pre-tax pre-provision net revenues for all reporting periods shown above
Source: SNL Financial
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EGBN Stock Price Performance
Source: SNL Financial
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Loan Portfolio Composition
Loan Portfolio by Type
Loan Portfolio by Location
Note: At June 30, 2010
Total Gross Loans: $1.5 Billion
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Geographic Detail of Loan Portfolio
Note: At June 30, 2010
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Fairfax County
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Detail of Loan Portfolio
Construction Loans by Type
Income Producing CRE by Type
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Deposit Composition
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Superior Relationships/Net Interest Margin
Note: Regional peers includes publicly-traded commercial banks with Assets between $1 and $5 billion and headquartered in Washington, DC, Virginia,
West Virginia, Maryland, Pennsylvania and Delaware who reported net interest margin for all periods shown above.
West Virginia, Maryland, Pennsylvania and Delaware who reported net interest margin for all periods shown above.
Source: SNL Financial
F&T closed August 31, 2008
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Market Information -Washington, DC
Metropolitan Statistical Area
Metropolitan Statistical Area
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growing private companies in U.S. (according to Inc. Magazine)
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Source: Greater Washington Initiative 2009 Regional Report
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Greater Washington Economy
Note: Other includes Health/Education, Media
Source: George Mason University, Center for Regional Analysis
Source: George Mason University, Center for Regional Analysis
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Note: Shaded companies in grey denote those companies headquartered outside of Washington, D.C. Metro Area. Data excludes: E*Trade and UNIFI Mutual Holding Company whose deposits are substantially from
outside of the defined market area.
outside of the defined market area.
Source: FDIC, as of June 30, 2009
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Capital Strength
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December, 2009
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Looking Ahead
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o Take advantage of dislocation in market
o Hire seasoned lenders
o Increase Northern Virginia footprint
o Focus on relationships to increase deposit penetration
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o Continued focus on Net Interest Margin
o Grow noninterest components of revenue
o Diligent expense control to improve Efficiency Ratio
o Lower effective tax rate
o Continued evaluation of redemption of remaining TARP funds
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Minimal Impact from Dodd-Frank
Regulatory Reform
Regulatory Reform
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community banks
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Impact on overall derivatives markets to be determined
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requirements
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Appendices
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Loan Portfolio Trends
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Loan Portfolio by Risk Rating
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credit review quarterly
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Geographic Detail of NPA’s
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pricing
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Deposit Composition
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Conservative Securities Portfolio
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Proven Acquisition Capabilities
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only pursued one transaction - F&T
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manner, without disrupting relationships with customers
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to relationship growth
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Fidelity & Trust Acquisition
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Note: F&T balance sheet data at August 31, 2008.
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Experienced Management Team
Ronald D. Paul, Chairman, President and CEO
Mr. Paul, a founder of EagleBank, has served as Chairman since May 2008, and prior to that time was Vice Chairman and
Chief Executive Officer since the organization of the Company. He also has served as Chairman of the Board of Directors of
the Bank since the organization of the Bank. Since June 2006, he has served as Chief Executive Officer of the Bank. Mr.
Paul is also President of Ronald D. Paul Companies and RDP Management, which are engaged in the business of real estate
investment and management for office and multi-family properties. Mr. Paul was a director of Allegiance Bank and of
Allegiance Banc Corporation from 1990 until its acquisition by F&M, including serving as Vice Chairman of the Board of
Directors from 1995. Mr. Paul is also active in various charitable organizations, including serving as Vice Chairman of the
Board of Directors of the National Kidney Foundation from 1996 to 1997, and Chairman from 2002 to 2003.
Robert P. Pincus, Vice Chairman of the Board of Directors of Eagle Bancorp, Inc. and EagleBank
Prior to joining the Company in August 2008 upon the acquisition of Fidelity & Trust Financial Corporation (“Fidelity”) and
its wholly owned subsidiary, Fidelity & Trust Bank (“F&T Bank”), Mr. Pincus served as Chairman of F&T Bank from 2005.
He was Chairman of the Board of BB&T, DC Metro Region and was Regional President from 1998 to 2002. From 1991 to
1998, Mr. Pincus was President and Chief Executive Officer of Franklin National Bank of Washington, D.C. From 1986 to
1991, he was the Regional President of the DC metropolitan region of Sovran Bank. From 1971 to 1986, Mr. Pincus was with
DC National Bancorp, Inc., where he eventually served as President and Chief Executive Officer, prior to its merger with
Sovran Bank. Mr. Pincus also serves as Chairman of the Board of Blackstreet Capital Partners, L.P. and Chairman of
Milestone Merchant Partners, LLC. He is a Trustee of the University of Maryland Foundation, Inc. and is a member of the
board of directors of Comstock Homebuilding Companies, Inc.
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Experienced Management Team
Susan G. Riel, Senior EVP, Chief Operating Officer of EagleBank
Ms. Riel, Senior Executive Vice President - Chief Operating Officer of the Bank, and formerly Chief Administrative Officer.
Ms.Riel has been with the bank for 12 years. She previously served as Executive Vice President - Chief Operating Officer of
Columbia First Bank, FSB from 1989 until that institution’s acquisition by First Union Bancorp in 1995. She is one of the
founding officers of EagleBank. Ms. Riel has over 29 years of experience in the commercial banking industry.
Michael T. Flynn, EVP, Chief Operating Officer of Eagle Bancorp, Inc.
Mr. Flynn has been with EagleBank for 6 years and has served as Chief Operating Officer of Eagle Bancorp, Inc, since June
2006. He has over 38 years of experience in the banking industry in the Washington, D.C. and Maryland region. Prior to
joining EagleBank, he was the Washington region executive for Mercantile Bankshares Corporation. He previously was the
Director of Strategic Planning for Allfirst Financial, Inc., and prior to that, held several executive level positions for Bank of
America and predecessor companies. Mr. Flynn is a Director of the Workforce Investment Council of the District of Columbia
and the Maryland Banking
School.
Thomas D. Murphy, President, Retail Banking Division
Mr. Murphy is one of the founding officers of EagleBank and has been with the bank for 12 years and has served as President-
Retail Banking Division of the Bank since August 2009. He served at Allegiance Bank from September 1994, including as
Executive Vice President and Chief Operating Officer from December 1995 until November 1997. Prior to his service at
Allegiance, he held the same position at First Montgomery Bank from August 1991 until its acquisition by Sandy Spring National
Bank of Maryland in December 1993, and was a Vice President of that organization until September 1994. Mr. Murphy has 34
years of experience in the commercial banking industry. Active in community affairs, he is past president of the Bethesda-Chevy
Chase Chamber of Commerce.
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Experienced Management Team
Martha Foulon-Tonat, EVP, Chief Lending Officer
Ms. Foulon-Tonat is one of the founding officers and has been with EagleBank for 12 years. She previously served at
Allegiance Bank from January 1990 to December 1997. She was Senior Vice President and Chief Lending Officer. Prior to
her service at Allegiance Bank, Ms. Foulon-Tonat served at various commercial banks in the area. She has over 25 years of
experience in the commercial banking industry.
Janice L. Williams, EVP, Chief Credit Officer
Ms. Williams, Executive Vice President and Chief Credit Officer of the Bank, has served the Bank as Credit Officer, Senior
Credit Officer and Chief Credit Officer for the past 7 years. Prior to employment with the Bank, Ms. Williams was with
Capital Bank, Sequoia Bank, and American Security Bank. Additionally, Ms. Williams, a graduate of Georgetown University
Law Center and a Member of the Maryland Bar, was previously employed in the private practice of law in Maryland.
James H. Langmead, EVP, Chief Financial Officer, Eagle Bancorp, Inc. and EagleBank
Mr. Langmead, Executive Vice President and Chief Financial Officer of the Company since January 2007, and Executive Vice
President and Chief Financial Officer of the Bank since January 2005, previously served as Chief Financial Officer of Sandy
Spring Bank and Sandy Spring Bancorp. Mr. Langmead, a CPA, served in various financial and senior management roles with
Sandy Spring Bank from 1992 through 2004. Prior to that time, Mr. Langmead managed the finance group at the Bank of
Baltimore.
Laurence E. Bensignor, Senior Vice President, Eagle Bancorp, Inc.
Mr. Bensignor recently joined the bank after 29 years in the legal and real estate industries in the Washington, DC area. For ten
years, Mr. Bensignor served as Trustee of the Van Metre Family Trusts, the controlling owner of a private, multifaceted real
estate organization. Previously, he was a partner and chaired the real estate practice group in the Washington, DC office of the
national law firm of Arter & Hadden and formerly was a partner in the Washington, DC law firm of Melrod, Redman &
Gartlan. Mr. Bensignor is a Fellow of the American College of Real Estate Lawyers.
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Historical Quarterly Balance Sheet
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