Market Overview

Eagle Bancorp and Alliance Bankshares Corporation Announce Mutual Termination of Merger Agreement

On November 28, 2011, Eagle Bancorp, Inc. (NASDAQ: EGBN) and Alliance Bankshares Corporation (NASDAQ: 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.

Posted-In: News M&A

 

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