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EagleBank Appoints Steven A. Reeder, Executive VP, Chief Deposit Officer; Christopher J. Ewing, Executive VP, Deputy Chief Operating Officer; Mark S. Merrill, Executive VP of Finance

February 27, 2014

BETHESDA, Md., Feb. 27, 2014 (GLOBE NEWSWIRE) -- EagleBank today announced that Steven A. Reeder, Christopher J. Ewing and Mark S. Merrill have joined the executive team of EagleBank. Reeder, Ewing and Merrill were previously executives at Virginia Commerce Bank ("VCB"), which was acquired by United Bankshares. 

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Reeder has been appointed Executive Vice President and Chief Deposit Officer. An accomplished, results-driven professional well-known in Northern Virginia, he has an extensive track record in creating strategy, developing tactics and inspiring performance. Reeder brings over two decades of retail banking and management experience. Prior to joining EagleBank, he was the Executive Vice President and Chief Deposit Officer at Virginia Commerce Bank, where he helped transform the Bank's deposit portfolio, which increased by approximately $1.2 billion during a period when both composition and cost improved significantly.  Previously, he served as Senior Vice President at BB&T in Northern Virginia (after its acquisition of First Virginia Bank), where he had a combined 15 years of service. Reeder will play a key role in strengthening the Bank's performance growth, and creating and supporting the overall strategic plans.   

Ewing has been appointed Executive Vice President and Deputy Chief Operating Officer. An accomplished forward and innovative thinker, he was the Executive Vice President, Chief Operations Officer and Chief Risk Officer of Virginia Commerce Bank, where he was responsible for developing and executing the Bank's overall strategic plans and goals.  Prior to joining VCB, he held leadership positions with Beneficial Bank in Philadelphia, PA; Capital One Bank in McLean, Virginia; and TD Bank (formally Commerce Bank) in Mount Laurel, New Jersey. Ewing brings nearly three decades of experience in the financial and retail services industry.  His consistent track record of creating winning strategies and delivering exceptional financial performance will be a great addition to facilitating EagleBank's overall growth strategy. 

Merrill has been appointed Executive Vice President of Finance. An experienced finance executive and Certified Public Accountant, he brings over 14 years of experience in the finance services industry to EagleBank, with a significant level of diplomacy and accomplishments.  He is the former Executive Vice President, Chief Financial and Accounting Officer at Virginia Commerce Bank, and Chief Financial Officer at Virginia Commerce Bancorp, Inc. Prior to joining VCB, Mark held leadership positions at Tower Bancorp, Inc. & Graystone Tower Bank as Executive Vice President and Chief Financial Officer; Chief Accounting and Risk Officer, Director of Financial Reporting at Transcore; Vice President – Accounting Policy and Financial Controls at Waypoint Financial Corp and Waypoint Bank; and Senior Auditor – Financial Services at PricewaterhouseCoopers, LLP in Philadelphia, PA. Merrill's focus on strategic leadership will enhance EagleBank's overall financial strategy and growth objectives through Maryland, District of Columbia, and Northern Virginia. 

"It is a statement of our success that three such successful local bank executives have elected to further their careers at EagleBank. We are extremely fortunate to welcome these proven leaders to our already highly performing, experienced team," commented Chairman and CEO Ronald D. Paul. "With the success we have worked continuously to attain, it is critical in positioning our management team for the future to have the benefit of such talent and leadership. Steve, Chris and Mark will help take EagleBank to the next level of growth," concluded Ron Paul

"I am humbled to be joining such an admired and established team, and I look forward to helping build on the more than 15-year foundation of this solid and well-respected local community bank," Reeder said.

"I am very pleased to be joining EagleBank, with its 15-year history of serving clients and growing shareholder value, and I look forward to being part of the bright future of this bank," Ewing said.

"I'm excited to have a role in setting direction for our company as we continue to face the many financial global challenges of today and the future," Merrill said.

ABOUT EAGLE BANCORP, INC. AND EAGLEBANK

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 banking services through eighteen offices, located in Montgomery County, Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace.

www.eaglebankcorp.com

CONTACT: Ronald D. Paul 301.986.1800



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Source: Eagle Bancorp, Inc.


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