Eagle Bancorp gets $56.6M investment from U.S. Treasury

Eagle Bancorp Inc. of Bethesda, the parent company of EagleBank, announced that it has received a $56.6 million investment in its preferred stock from the U.S. Treasury Department under the Small Business Lending Fund.

The SBLF is a voluntary program intended to encourage small business lending by providing capital to qualified community banks at favorable rates. Simultaneously, the company redeemed the full remaining balance of $23.235 million of shares of preferred stock issued to the Treasury under the TARP Capital Purchase Program.

The company previously redeemed $15 million of shares of preferred stock under TARP in December of 2009.