Eagle Bancorp Announces Commencement of 1.9M Share Common Stock Offering

BETHESDA, Md., March 2, 2015 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company")

, the parent company of EagleBank, Bethesda, Maryland, today announced that it had commenced a public offering of 1.9 million shares of its common stock. The shares will be issued pursuant to a prospectus supplement related to a new shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC"). The Company expects to use the net proceeds from this offering for general corporate purposes, including, among other uses, payment of the redemption price (including any accrued but unpaid dividends to the date of redemption) of the $71.9 million liquidation amount of the Company's outstanding preferred stock issued pursuant to the Small Business Lending Fund Program prior to the increase of the dividend rate in January 2016, support for organic growth, de novo branching, and potential opportunistic acquisitions, should appropriate opportunities arise. Sandler O'Neill + Partners, L.P. will serve as sole underwriter for the offering. The Company intends to grant the underwriter a 30-day option to purchase from the Company up to an additional 285,000 shares of the Company's common stock to cover over-allotments, if any. This announcement is for informational purposes only and is not an