EagleBank Provides Loan for Residents of Randolph Towers in DC
October 25 2007 - 5:00AM
PR Newswire (US)
BETHESDA, Md., Oct. 25 /PRNewswire-FirstCall/ -- EagleBank's
(NASDAQ:EGBN) Commercial Lending Group came to the assistance of
Randolph Towers' residents and provided the 20-million-dollar
construction loan for refurbishing the 137-unit apartment building
at 14th and Randolph Streets in Washington, DC. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO ) Under
a District of Columbia program that allows tenants to purchase
their own building, the loan will let residents take this project
into their own hands, fix it up, then buy their own units.
EagleBank has participated in other such projects in the past.
"This sort of loan is one which gives our bank a lot of
satisfaction," commented Ronald D. Paul, President and CEO of Eagle
Bancorp, Inc. and Chairman and CEO of EagleBank. "Residents pulling
together and supporting the building they call 'home' so that they
can purchase a restored, safe and updated unit is a win-win
situation for the homeowners, the city and the neighborhood.
EagleBank is proud to be a part of this worthwhile project," he
concluded. Mayor Fenty and other City and Dept. of Housing and
Community Development officials attended a Groundbreaking held at
the site on October 18th, 2007. EagleBank was proudly lauded as the
bank with the most knowledge and expertise on tenant conversion
financing in the DC metro area. About EagleBank and Eagle Bancorp,
Inc ... Eagle Bancorp, Inc. is the holding company for EagleBank,
which commenced operations in 1998. The Bank is headquartered in
Bethesda, Maryland, and conducts full service commercial banking
services through nine offices, located in Montgomery County,
Maryland and Washington, DC. The Company focuses on serving the
financial needs of commercial and real estate customers, small
businesses, professionals, and non-profit organizations in its
marketplace. To fulfill a dedicated commitment to community
service, a charitable foundation was established in 2006: The
EagleBank Foundation. http://www.eaglebankmd.com/ EAGLEBANK
CONTACT: Tom Murphy, 301.986.1800
http://www.newscom.com/cgi-bin/prnh/20050927/EAGLEBANKLOGO
http://photoarchive.ap.org/ DATASOURCE: EagleBank CONTACT: Tom
Murphy of EagleBank, +1-301-986-1800 Web site:
http://www.eaglebankmd.com/
Copyright
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Jul 2023 to Jul 2024