Eagle Bancorp, Inc.'s 1st Quarter 2024 Earnings Conference Call was held on April 25, 2024. Click here to listen to the recorded webcast.
A community
we care about.
Commitment to Community
As one of the leading community banks in our region, EagleBank has long been an active contributor of time and resources in the Washington, DC region. We help create local jobs, reinvest local dollars back into the community, and provide a source for financial education. During our 25 years in the market, we have dedicated millions of dollars locally to affordable housing, small business access to capital, healthcare and education initiatives.
EagleBank’s mission statement affirms that we differentiate ourselves by our leadership role in “supporting and enhancing our community.” We take our role of corporate citizen seriously, whether it is branch managers teaching financial literacy to middle schoolers, a commercial banker presenting a cash flow how-to for small business owners, or employees working hand-in-hand with community partners for a variety of philanthropic causes.
Some of the biggest tools EagleBank uses to create and maintain strong relationships within our community are our lending programs. By financing projects throughout our footprint, we help transform streetscapes across the entire DC area, including under-served areas. It is a mission of EagleBank to foster inclusivity and support our local community and economy. Our dedication to supporting and investing in affordable housing options includes a number of investment vehicles that provide positive social impact.
We invest in transformational initiatives that preserve and create affordable workforce housing in rapidly changing communities throughout the Washington, DC region. A few examples of EagleBank’s recent Community Development financing:
February 2023 – Announced financing up to $55 million District of Columbia Tax-Exempt Revenue Bonds to support Mundo Verde Bilingual Public Charter School
November 2022 – Announced financing for a $50 million affordable rent property with 259 units in Reston, Virginia
October 2022 – Announced financing for a $42 million mixed-use development project with Howard University for the Shaw neighborhood of Washington DC
September 2023 -- Provided financing for a $55 million affordable, assisted living property, known as "The Residences at Benning Road", with 156 units in northeast, Washington DC
Community Development Loans (2015-present) Over $1.47 billion
Behind the scenes at EagleBank is an impressive operation that is constantly striving to bring our region more secure and convenient business banking options. We are experienced, relationship bankers who know, love, and serve our community because it’s where we live, work, play, and raise our families. We dedicate our volunteer efforts to making an impact on the wellbeing of our entire community. We are proud to see EagleBank listed year after year near the top of Washington Business Journal’s list of Top Corporate Philanthropists for DC area’s midsize companies. The ranking considers dollars given plus volunteer hours.
Community Volunteer Hours Logged (2018-2023) Over 27,064
The EagleBank Foundation’s annual Golf Classic has raised over $6.0 million for Breast Cancer Research since its inception in 2005. EagleBank Foundation philanthropy enables over 20 local hospitals and other cancer-focused organizations in our community to continue ongoing research and provide support services — all dedicated to putting an end to breast cancer.
The Foundation’s mission has always been to advance the health and wellbeing of our communities. Organizations receiving EagleBank Foundation funds include Medstar Washington Hospital Center, Holy Cross Hospital, Adventist HealthCare Shady Grove Medical Center, Prince George’s Hospital Center, Inova Fairfax Hospital, Virginia Hospital Center, World Central Kitchen, Capital Area Food Bank, Shepherd’s Table, and First Responders Children’s Foundation.
Donations to date: Over $6.0 Million (2005-present)
The Foundation also matches the personal charitable giving of EagleBank’s nearly 500 employees through our Employee Matching Gift Program.
Matched donations: Our employees donated $50,079 and EagleBank Foundation matched with $35,054 (2016-present)
Click here to visit the EagleBank Foundation website for more information.
At EagleBank, we never forget that “community” is the first word in community bank. Right from the start, we have supported hundreds of local non-profits and organizations through sponsorships and donations. Some of our most rewarding relationships have been with groups serving the homeless, those fighting cancer, and under-served children in DC’s Wards 7 and 8. EagleBank is consistently ranked near the top of Washington Business Journal’s list of Top Corporate Philanthropists for DC area’s midsize companies.
EagleBank’s support of local charities over the course of decades, has helped to further the goals of these wonderful organizations such as: The Children’s Inn at NIH, Whitman-Walker, Habitat for Humanity-Metro Maryland, Trust for the National Mall, and the Historical Society of Washington, DC, and Latin American Youth Center.
EagleBank is also an eager supporter of DC SCORES which makes a meaningful impact on the lives of under-served Washington, DC, public school kids every year by fostering soccer skills and teaching writing skills via the poetic form. EagleBank became the lead sponsor of the charity’s annual fundraiser, the SCORES Cup, in 2023.
Outright donations to area non-profits and organizations: over $689,070 (2018-2023)
EagleBank and George Mason University
On May 7, 2015, EagleBank entered into a long-term relationship with George Mason University. It is broad-based and multi-faceted. EagleBank has been providing scholarships to students, hiring graduates and alumni, sponsoring internships, hosting speaker series, and more.
EagleBank Employee Scholarship Program
The EagleBank Employee Scholarship Program, sponsored by our Diversity Equity & Inclusion Council, is designed specifically to support the pursuit of higher education by our employees. The program provides a one-time per academic year award of up to $5,000 per employee. Award decisions are based on academic achievement, community involvement, work experience and financial need. Up to ten $5,000 scholarships are awarded each academic year to eligible employees.
Financial Literacy
A vital aspect of our platform is financial education directed to consumers by knowledgeable bankers. Our bankers are dedicated to EagleBank’s mission to provide consumer financial education, and we use many different outlets -- from community partnerships, webinars, housing expos, and informational articles in the local print media.