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On
November 28, 2011, Eagle Bancorp, Inc.
EGBN and Alliance
Bankshares Corporation
ABVA announced that they have
mutually agreed to terminate their agreement to merge.
Subsequent to the execution of the merger agreement, Eagle and Alliance
developed irreconcilable differences of opinion regarding a number of matters
related to the merger and merger agreement. Accordingly, the boards of both
parties felt it was in the best interests of their respective shareholders to
terminate the merger agreement and pursue other strategies.
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