Key Developments: Eagle Bancorp Inc (EGBN.OQ)

EGBN.OQ on NASDAQ Stock Exchange Capital Market

35.96USD
24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Eagle Bancorp Inc completes merger with Virginia Heritage Bank
Monday, 3 Nov 2014 06:00am EST 

Eagle Bancorp Inc:Says acquisition of Virginia Heritage Bank, through merger of Virginia Heritage with and into EagleBank, became effective on Oct. 31.Each share of Virginia Heritage common stock has been converted into 0.6632 shares of Eagle common stock and $7.50 in cash, as result of effectiveness of merger.As result of acquisition, Eagle issued about 4.01 mln shares of Eagle common stock, not including about 402 thousand shares of common stock issuable upon exercise of options to acquire Virginia Heritage common stock, as adjusted in accordance with agreement and plan of reorganization.Aggregate value of transaction, based on Eagle's closing price on Oct. 31 is about $198.6 mln.  Full Article

Eagle Bancorp Inc announces completion of subordinated notes offering
Tuesday, 5 Aug 2014 02:27pm EDT 

Eagle Bancorp Inc:Completed the public offering and sale of $70 million of its 5.75 pct subordinated notes due Sept. 1, 2024.The notes were sold at par, resulting in net proceeds, after underwriting discounts and commissions, of about $69.2 million.The company plans to use the proceeds of the offering to pay the cash portion of the merger consideration in its previously announced acquisition of Virginia Heritage Bank and for general corporate purposes.Sandler O'Neill + Partners, L.P. is the sole manager for the subordinated notes offering.  Full Article

Eagle Bancorp Inc announces pricing and upsizing of subordinated notes offering
Thursday, 31 Jul 2014 12:15pm EDT 

Eagle Bancorp Inc:Says it had set the price for its public offering of $70 mln of its 5.75 pct subordinated notes due Sept. 1.Says it elected to increase the aggregate principal amount of the notes to $70 mln from the previously announced amount of $55 mln.Plans to use the proceeds to pay the cash portion of the merger consideration in its previously announced acquisition of Virginia Heritage Bank, and for general corporate purposes.Sandler O'Neill + Partners, L.P. is the sole manager for the subordinated notes offering.  Full Article

Eagle Bancorp Inc announces commencement of subordinated notes offering
Tuesday, 29 Jul 2014 06:10am EDT 

Eagle Bancorp Inc:Commenced public offering of $55,000,000 of its subordinated notes, due Sep. 1.Says use proceeds to pay cash portion of merger consideration in its previously said acquisition of Virginia Heritage Bank, and for general corporate purposes.Says Sandler O'Neill + Partners, L.P. (Sandler O'Neill) is sole manager for subordinated notes offering.  Full Article

Eagle Bancorp Inc and Virginia Heritage Bank announce merger agreement
Monday, 9 Jun 2014 06:38pm EDT 

Eagle Bancorp Inc and Virginia Heritage Bank:Enter into definitive agreement pursuant to which Virginia Heritage Bank will be merged into EagleBank, with EagleBank being surviving institution.Under agreement each Virginia Heritage Bank shareholder will be entitled to receive combination of Eagle common stock and cash for each share of Virginia Heritage Bank common stock they own.So long as average closing price of share of Eagle common stock over a 20 trading day period ending five trading days prior to closing is at least $29.00 and not more than $35.50.Then each share of VHB common stock would be converted into right to receive shares of Eagle common stock having a value, based on eagle average price, of $21.50 per share.And cash of $7.50 per share, for aggregate consideration of $29.00 per share.If EAGLE average price is higher than $35.50, then each share of VHB common stock would be converted into 0.6056 shares of Eagle common stock, and cash consideration per share would increase above $7.50.If Eagle average price is less than $29.00, then, generally, each share of VHB common stock would be converted into right to receive $7.50 in cash and shares of Eagle common stock having a value equal to Eagle average price less $7.50.Based on closing price of Eagle common stock on June 6, 2014 of $32.92, EXCHANGE RATIO would be 0.6531, and aggregate value of transaction would be about $182.9 mln, including the value of outstanding options to acquire VHB common stock.  Full Article

Eagle Bancorp Inc Announces 10% Stock Dividend
Thursday, 16 May 2013 04:15pm EDT 

Eagle Bancorp Inc announced that the Board of Directors of the Company had approved a 10% stock dividend for shareholders of record on May 31, 2013, payable on June 14, 2013.  Full Article

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