September 13, 2011

Some musings…

SBA Lending…I was reading an article in The New York Times about the trials and tribulations of a New Jersey entrepreneur trying to get an SBA loan.  At EagleBank, we welcome business founders and are a preferred SBA lender.  As such, we can approve the loan in-house and simply notify the SBA of its closing.  We don’t close our eyes to start ups.  We simply underwrite them as such: We look at collateral, management experience, and whether there is sufficient capital being injected into the deal.

Recent Bank Rankings…As I wrote in July, EagleBank has been performing particularly well.  Income, deposits and loans all continue to be on the rise.

I want to share some rankings in the press and industry.  Earlier this year, SNL Financial ranked us among the top 75 community banks in the country; we are the only Maryland bank on the list.

American Banker recently ranked us in the top 150 banks and thrifts in the country for the volume of business (“commercial and industrial”) loans we make.  Of those institutions, we are in the top 20 for loan growth over the past year.

American Banker also just ranked us as the 105th most efficient bank holding company in the country, with an efficiency ratio (non-interest expenses) of 57.22%.

Investment banker Sandler + O’Neill named EagleBank as one of 25 “All Star” banks with under $2 billion in market capitalization.  And investment banker Stifel Nicolaus’ analysts named EagleBank as among the 23 banks it rates as a “Buy.”  We’re the only Maryland bank on these two lists.  While we obviously do not endorse any investment bank’s opinion or rating, we are very proud of the analyst views we have obtained.

I’m grateful to our customers and the communities we serve and I’m proud of all the bank’s employees.

EagleBank Expands Virginia Presence…Our Ballston branch just opened.  It marks the first of three upcoming branch openings for EagleBank in Virginia. It’s at 4420 North Fairfax Drive.  Next up is Rosslyn, which should open in about a month in the Waterview building at 1919 North Lynn Street.  And we’re working on our Reston location, which will open this winter at 12011 Sunset Hills Drive.  That takes EagleBank to 17 branches, and that’s before we add in 6 more branches when we complete the merger with Alliance Bank.