October 17, 2013

The Ripple Effect is Enormous

While the end of the government shutdown may have stopped the bleeding, small businesses have already hemorrhaged from the effects of two weeks of closed government doors.  I had the honor and privilege to appear Tuesday, October 15 before the U.S. Senate Committee on Small Business and Entrepreneurship.  Under the leadership of Chair Mary Landrieu (Louisiana), the Committee conducted hearings on the effect of the shutdown on small businesses and banks. I am pleased to post my opening testimony here. The entire hearing may be viewed at http://c-spanvideo.org/program/SmallBusinesse; my opening statement is at the 0:44 minute mark.  Questions and Answers followed. I have grave concerns about the “kick the can down the road” legislation that was the supposed “solution” to the…Read More >

October 3, 2013

The Extra Mile

Recently I wrote about our tagline, Relationships F·I·R·S·T.  The five letters in F·I·R·S·T are an acronym.  They stand for Flexible. Involved. Responsive. Strong and Trusted.  That’s how our customers describe us. And so do our employees.  At an all-employee meeting, we asked for employees to give their own reasons why the tagline and the individual words are a match for EagleBank. Here’s some of what I heard: Involved: We listen, rather than just hear. We strive to truly understand our customer’s needs and wants. We take ownership.  We accept responsibility and are then held accountable to our customers.  We keep our customers apprised – before they even ask for a status report. We go the extra mile…every day (weekends and holidays…Read More >

August 6, 2013

There is No Box

As you have seen, EagleBank changed it’s tagline earlier this year.  Sure, we’re still listening, but we wanted to emphasize how we always put Relationships F·I·R·S·T.  Each letter in FIRST stands for a pillar of how we do business.  Flexible.  Involved.  Responsive.  Strong.  Trusted. Recently employees of EagleBank – nearly 400 of us – met in groups to discuss what each of the pillars of F·I·R·S·T mean to us.  I am happy – and proud – to share their thoughts with you. This post focuses on Flexible.  What do we mean when we say we are flexible? We always start with a blank piece of paper, not a product from off the shelf.  We don’t just think outside the box…there is…Read More >

June 12, 2013

A Shared Commitment

As chief executive officer of a business, I always welcome hearing from our customers – whether it’s a pat on the back or a constructive suggestion.  We can’t know what we’re doing well, and what needs improvement, without feedback. I share with you one such letter from a borrower of EagleBank, Accent Development Company.  As you have been hearing lately, other banks are announcing to the public that “they’re back.”  At EagleBank, we never left. Click here for hyperlink to customer letter

March 19, 2013

We Never Left –

There Yesterday, Here Today, Here Tomorrow You’ve probably seen the ads.  Perhaps you’ve gotten a phone call.  Some national bank is calling to say “they’re back.”  They’re back? We never left. In fact, in the four years since the depths of the financial crisis (2009-2012), EagleBank has made over $1.2 billion in new loans.  That’s an average compounded increase of 18% annually.  Put another way, we basically doubled our loan portfolio in just four years!  Our loan covenants are reasonable; we are flexible when your changes arise.  Most importantly, when you need an answer, you get one quickly. On December 31, 2012, we held $2.5 billion in loans.  We’re Washington’s number one community bank for making SBA loans.  You’ll see…Read More >

February 15, 2013

Looking Back. Looking Forward.

The year 2012 was another watershed year for EagleBank.  To our customers, shareholders, employees, vendors and the community at large: thank you for contributing to our success. Both Main Street and Wall Street showed their confidence in us.  We are now a $3.4 billion dollar bank, making us one of metropolitan Washington’s largest community banks by asset size.  The FDIC recognized EagleBank in 2012 as having more deposits than any other community bank in the Washington region. Our deposits increased 20% compared to 2011.  Loans were also up 20% compared to a year ago.  Unlike other banks that have hunkered down, we continue to be a “go to” financing source for businesses and real estate.  Many a construction project or…Read More >

February 1, 2013

Look to Community Banks for Small Business Lending

Ami Kassar’s recent commentary “The State of Small Business Lending” in the New York Times gives short shrift to the role community banks are playing in making loans to small businesses.  Nearly 60% of all loans under $1 million to small businesses are made by community banks, according to the Independent Community Bankers of America, even though community banks comprise only 20% of bank assets nationally.  While national banks are saying “No,” community banks are saying not just “Yes,” but “How else can we help?” There are 275 community banks across the country that participate in the Federal Government’s Small Business Lending Fund.  Of those, nearly 90% have increased their small business lending in the past year.  In fact, nearly…Read More >

December 17, 2012

We’re Banking on Virginia Businesses

From the day EagleBank opened its doors, we have been lending to small businesses in the Washington metropolitan area.  As a community bank, it is the essence of what we do.  And we are proud to see so many of our customers expand and thrive.  It is most gratifying for me to drive around the area and see so many businesses accomplish what they set out to do, and more.  For their success is our success.  In a recent post, I described how EagleBank continues to expand its presence in Northern Virginia.  It is certainly evident in the signs atop our branches and the signs you will see at real estate construction projects.  While it may not be as evident,…Read More >

November 15, 2012

EagleBank – Stronger and More Local Than Ever

For years, EagleBank has been helping Virginia businesses grow.  Our loans to companies headquartered in Northern Virginia and to real estate projects springing up around the Beltway, the Toll Road and I-66 have been part of our portfolio since the early roots of the Bank.  Customers keep deposits with us and operate their businesses utilizing our sophisticated offerings.  Relationships include small businesses, restaurants, retailers, technology companies and real estate developers.  And a lot more. In the past year-and-a-half, EagleBank has doubled its efforts in Northern Virginia.  Actually, you can say we’ve quintupled our efforts.  We’re now five branches strong in Fairfax and Arlington Counties.  You’ll find us in Tysons Corner, Rosslyn, Ballston, Reston and the just-opened Mosaic District in Merrifield. …Read More >

October 9, 2012

Relationships F·I·R·S·T

“Just Do It.”  “Oh! What a Feeling!”  “It’s the Real Thing.”  “Like a Good Neighbor…” Businesses use taglines to create and burnish an image.  It’s been no different here at EagleBank.  Since the day we opened our doors 14 years ago, our tagline has been “We’re Listening.”  With good reason.  When the founding directors of EagleBank banded together, they committed to have EagleBank serve as a true community bank.  We are here to serve our customers, not the other way around.  We start an introductory meeting not with “Here are our products. Which one do you want?” but with “How can we help?” Over the years, our customers have commented on how much they appreciate this attitude.  But we’ve heard…Read More >

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