Today’s (1/13/2017) cover story in the Washington Business Journal print edition, “Dear President Trump: We asked seven local businesses what they want to see from the new administration.” Here is my response on community banking… Community bank: We want less regulation EagleBank CEO Ron Paul wants — and hopes for — the incoming administration of Donald Trump to overhaul banking regulations to be less burdensome on smaller community banks. Based on Trump’s pledges, Paul has good reason to be optimistic. Specifically, Paul thinks one of the biggest issues facing community banks are regulations that increase costs based on the size of the bank. “Once you cross the $10 billion threshold, it gets very, very expensive,” Paul said. “Small banks and…Read More >
Today the Washington Suburban Sanitary Commission announced the launch of the Business Investment and Growth (BIG) Program to stimulate local small business lending in Prince George’s County and Montgomery County, MD. Under this program, the WSSC has committed to place $10 million among several community banks based in those two counties which banks meet the safety and soundness standards established by the WSSC. In return, the participating banks have agreed to leverage any funds deposited on a 2:1 basis into small business loans to companies and/or projects located in the two counties. EagleBank worked closely with the WSSC in the development of the program and was the first bank to commit to participation in the program. To read the press releases concerning this…Read More >
The story below was published in our 3rd Quarter 2016 Newsletter. Loans That Help Heal Every loan tells a story: A commercial venture that brings an interesting historic property back to life; new homes to make homeownership dreams come true; a development that opens doors, provides jobs, but also preserves a natural habitat; shops, eateries, and retail enhancements that provide us with exciting choices and options. Among recent approved loans, one touched our hearts and inspired our patriotism. Travel down a two-lane road west of Cambridge on Maryland’s Eastern Shore and eventually you’ll see the Blackwater National Wildlife Refuge on your left. On the right, tucked behind some trees, is a 290-acre property with 2.3 miles of waterfront along Parsons Creek and…Read More >
Here is a link to the press release that went out this morning: Twelfth Annual EagleBank Foundation Fight Against Breast Cancer Golf and First Annual Tennis Classic Raised Over $400,000.
Here is a link to an article written by Katherine Johnson and published yesterday, October 17 in the George Mason University School of Business website: EagleBank Scholarship Fuels Student’s Entrepreneurial Drive…the importance of entrepreneurship education in our community and educational setting.
Last night, I spoke before an audience of George Mason University’s School of Business, at the EagleBank Arena, as part of the Brown & Brown Distinguished Speaker Series. My topic was “Leadership:The Key to Making a Difference in Business and in Life.” In my prepared remarks, I urged students and graduates to become leaders, at their place of work, their place of worship and in the community. I then spent 45 minutes answering audience questions, which ranged from “How do you overcome fear when trying to succeed at something new?” to “What was your biggest failure and what did you learn from it?” to “What is EagleBank’s differentiator among local banks?” Good questions! As part of EagleBank’s support relationship with…Read More >
Recently I wrote about the increasing prevalence of “business email compromise.” That’s when an email appears to come from a company executive directing a wire transfer to be made, but in fact it is fraudulent. EagleBank just published a brochure with good information describing various types of fraudulent efforts, ways you can reduce the risk of it happening to your company and more. I’m pleased to attach it. Be alert and proactive!
Yesterday I had the privilege of testifying before approximately 100 people associated with the Federal Reserve and the FDIC. I chose to focus my comments on two issues of particular importance to community banks. One relates to recent rules (commonly called Basel III) that require additional capital to be maintained at the bank to cover what are viewed by regulators as “high volatility commercial real estate loans.” Categorizing loans as such increases the cost to the bank of making these types of construction loans – and therefore either increases the cost to the borrower or diminishes the bank’s interest in making them. EagleBank has clearly demonstrated that loans can be made and monitored prudently. Accordingly, these loans are not “one…Read More >
I hope you had a good Thanksgiving, enjoying it with those who are special to you, and pausing to give thanks for all we are thankful for. Today, you may be hitting the malls, or at work or just relaxing again with family. Tomorrow, I urge you to shop at your local merchants. It’s Small Business Saturday, and it is most meaningful for all of us to support our area’s local small businesses. For they are the backbone of our area economy. That’s right. Generally speaking, small businesses are the job creators and fuel the engine of economic growth. Not only do small businesses employ local residents, but they give back to our community. That’s because for every $100 spent…Read More >
In May, I wrote about how EagleBank and George Mason University formed a major strategic alliance. The Bank gave $6.5 million to the University over ten years. It most visible effect is the renaming of the Patriot Center to EagleBank Arena. But the more important effects are not as visible: scholarships, internships, guest speaking in classes and mentoring, for example. Last Friday, this year’s five EagleBank scholarship recipients came to the EagleBank offices in Bethesda to meet with members of senior management. We got to know each other, learning about each of their passions and introducing them to community banking the EagleBank way. We also discussed entrepreneurship and leadership development, and the importance of giving back to the community. Then,…Read More >