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TABLE OF CONTENTS
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549FORM S-3
REGISTRATION STATEMENT
Under
The Securities Act of 1933
Eagle Bancorp, Inc.
(Exact name of registrant as specified in its charter)
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Maryland
(State or other jurisdiction of incorporation or organization) | | 52-2061461
(I.R.S. Employer Identification Number) |
7815 Woodmont AvenueUNITED STATES
Bethesda, Maryland 20814
301.986.1800
(Address, including ZIP Code and Telephone Number, including Area Code, of Registrant's Principal Executive Offices)SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
| | |
Ronald D. Paul, President
|
FORM S-3
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
EAGLE BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
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Maryland
(State or Other Jurisdiction of Incorporation or Organization) | | 52-2061461
(IRS Employer Identification Number) |
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7830 Old Georgetown Road, Third Floor,
Bethesda, Maryland 20814
301.986.1800
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)
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Susan G. Riel, President and Chief Executive Officer
Eagle Bancorp, Inc.
7830 Old Georgetown Road, Third Floor,
Bethesda, Maryland 20814
301.986.1800 | With a copy to: |
Paul Saltzman, Executive Vice President and Chief Legal Officer
Eagle Bancorp, Inc. | | Noel M. Gruber, Esquire |
7815 Woodmont Avenue | | BuckleySandler LLP |
7830 Old Georgetown Road, Third Floor,
Bethesda, Maryland 20814
301.986.1800 | | 1250 24th Street,With a copy to:
Benjamin H. Weiner, Esq.
Sullivan & Cromwell LLP
1700 New York Avenue, NW, Suite 700 |
301.986.1800 | |
Washington, DC 20037 |
(Name, Address, including ZIP Code and Telephone Number,
including Area Code, of Agent for Service) | | 20006 |
(Name, address, including zip code, of agent for service)
Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.
If the only securities being registered on this formForm are being offered pursuant to dividend or interest reinvestment plans, please check the following box.o☐ If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.ý☒ If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.o☐ If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.o☐ If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.o☐ If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.o☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of "large“large accelerated filer," "accelerated filer"” “accelerated filer,” “smaller reporting company” and "smaller reporting company"“emerging growth company” in Rule 12b-2 of the Exchange Act.
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Large accelerated filero☒ | Emerging growth company☐ | Accelerated filerý☐ | | Non-accelerated filero
☐ (Do not check if a
smaller reporting company) | | Smaller reporting companyo☐ |
CALCULATION OF REGISTRATION FEE
| | | | | | | | |
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Title of Each Class of Securities
to be Registered
| | Amount to be
Registered(1)(2)(3)
| | Proposed Maximum
Offering Price Per
Unit(1)(2)
| | Proposed Maximum
Aggregate Offering
Price(1)(2)
| | Amount of
Registration Fee(4)
|
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Common Stock , $0.01 par value per share | | | | | | | | |
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Preferred Stock, par value $0.01 per share | | | | | | | | |
| |
Depositary Shares(5) | | | | | | | | |
| |
Warrants to Purchase Common Stock, Preferred Stock or Depositary Shares | | | | | | | | |
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Debt Securities(6) | | | | | | | | |
| |
Units(7) | | | | | | | | |
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Total | | $125,000,000(8) | | | | $125,000,000 | | $14,325(8) |
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(1)An indeterminate number of securities of each identified class is being registered as may from time to time be offered for sale at prices to be determined, withIf an aggregate public offering priceemerging growth company, indicate by check mark if the registrant has elected not to exceed $125,000,000. Separate consideration mayuse the extended transition period for complying with any new or may not be received for securities that are issuable on exercise, conversion, or exchange of other securities or that are issued in units.
(2)In accordance with General Instruction II.D. to Form S-3 under the Securities Act of 1933 (the "Securities Act"), information as to each class of securities to be registered is not specified.
(3)In accordance with Rule 426 under the Securities Act, this registration statement also covers the issuance of any additional securities which maybe issued upon conversion, exchange or exercise of any other securities that provide for such issuance.
(4)Estimated solely for the purpose of computing the registration feerevised financial accounting standards provided pursuant to Rule 457(o) and Rule 457(p) under theSection 7(a)(2)(B) of Securities Act.☐
(5)Each depositary share will be issued under a deposit agreement, will represent a fractional interest in a share of a class or series of preferred stock, and will be evidenced by a depositary receipt.
(6)The debt securities may consist of one or more series of senior debt securities or subordinated debt securities as described in the applicable prospectus supplement.
(7)Each unit will be issued under a unit agreement or indenture and will represent an interest in two or more of the listed securities, which may or may not be separable from one another.
(8)Pursuant to Rule 415(a)(6) under the Securities Act, the securities registered pursuant to this registration statement include $35,343,281.36 of unsold securities registered under Registration Statement No. 333-160956, as filed with the Securities and Exchange Commission on July 31, 2009 by Registrant. In connection with the prior registration of such unsold securities, the Registrant paid a registration fee of $1,972.16 applicable to such unsold securities, which is available to be applied as an offset of the fee associated with the current registration.
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
The information in this prospectus is not complete and may be changed. We may not sell these securities or accept your offer to buy any of them until the registration statement filed with the Securities and Exchange Commission is declared effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state or jurisdiction where the offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED
AUGUST 3, 2012MAY 7, 2024
PROSPECTUS
Common Stock
Preferred Stock
WarrantsDepositary Shares
WarrantsDebt Securities
Purchase ContractsUnits
We may offer, issue and sell, from time to time, in one or more offerings, shares of our common stock, shares of one or more classes or series of our preferred stock, depositary shares, warrants to purchase any of the foregoing equity securities, debt securities,
purchase contracts, or units consisting of one or more of these securities, having a maximum aggregate offering price of
$125,000,000.$150,000,000.
We may offer and sell these securities to or through one or more underwriters, dealers, and agents, or directly to purchasers, on a continuous or delayed basis. This prospectus describes some of the general terms that may apply to these securities and the general manner in which they may be offered. The specific terms of any securities to be offered, and the specific manner in which they may be offered, will be described in one or more supplements to this prospectus. This prospectus may not be used to sell securities unless accompanied by a prospectus supplement.
Our common stock is listed on the Nasdaq Capital Market under the symbol
"EGBN."“EGBN.”
You should refer to the risk factors that may be included in a prospectus supplement and in our periodic reports and other information that we file with the Securities and Exchange Commission and carefully consider that information before buying our securities. See
"Risk Factors"“Risk Factors” on page
4.5.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
These securities are not savings accounts, deposits or other obligations of any bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.
The date of this prospectus is ,
2012
2024
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About this Prospectus
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Caution About Forward Looking Statements
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RISK FACTORSRatio of Earnings to Fixed Charges and Preferred Dividends
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i
This prospectus is part of a registration statement that we have filed with the Securities and Exchange Commission
or SEC,(“SEC”), using a
"shelf"“shelf” registration process. By using a shelf registration statement, we may, from time to time, sell any combination of the securities described in this prospectus, in one or more offerings having an initial aggregate offering price of up to
$125,000,000.$150,000,000.
This prospectus provides you with a general description of each of the securities we may offer. Each time we offer securities, we will provide a prospectus supplement that will contain specific information about the offering and the specific terms of the securities being offered. The prospectus supplement may also add, update, or change information contained in this prospectus. Before purchasing any of our securities, you should carefully read this prospectus, the applicable prospectus supplement and the information incorporated by reference in this prospectus. For additional information, please refer to
"Where“Where You Can Find More
Information"Information” and
"Incorporation“Incorporation of Certain Information by Reference.
"” If there is any inconsistency between the information in this prospectus and any prospectus supplement, you should rely on the information in the prospectus supplement.
The registration statement containing this prospectus, including exhibits to the registration statement, provides additional information about us and the securities offered under this prospectus. The registration statement may be read at the
SEC'sSEC’s website at
www.sec.gov or at the SEC office mentioned under the heading "Where You Can Find More Information." You should rely only onwww.sec.gov.
We have not authorized any other person to provide you with information different from the information contained or incorporated by reference in this prospectus, and
we do not take any
prospectus supplement. We have not authorized any other person to provide you with different information. If anyone provides you withresponsibility for such different or
inconsistent information, you should not rely on it.additional information. We will not make an offer to sell our securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information appearing in this prospectus, in any prospectus supplement or in any document incorporated by reference is accurate as of any date other than the date on the front page of the document that contained the information, regardless of when this prospectus is delivered, or when any sale of securities occurs. Our business, financial condition, results of operations and prospects may have changed since that date.
In this prospectus, we refer to common stock, preferred stock, debt securities, depositary shares, warrants,
purchase contracts and units collectively as
"securities."“securities.” The terms
"we," "us" "our," "Eagle"“we,” “us” “our,” “Eagle” and the Company refer to Eagle Bancorp, Inc. and our subsidiaries; except that in the description of the securities we may offer, these terms refer solely to Eagle Bancorp, Inc. and not to any of our subsidiaries.
We may sell securities to underwriters who will sell the securities to the public on terms fixed at the time of sale. In addition, the securities may be sold by us directly or through dealers or agents designated from time to time. If we, directly or through agents, solicit offers to purchase the securities, we reserve the sole right to accept and, together with any agents, to reject, in whole or in part, any of those offers.
Any prospectus supplement will contain the names of the underwriters, dealers or agents, if any, together with the terms of offering, the compensation of those underwriters and the net proceeds to us. Any underwriters, dealers or agents participating in the offering may be deemed
"underwriters"“underwriters” within the meaning of the Securities Act of 1933, as amended, or the Securities Act.
CAUTION ABOUT FORWARD LOOKING STATEMENTS
This prospectus contains or incorporates by reference forward looking
statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.statements. These forward looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions
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upon which those statements are based. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements and are typically identified with words such as "may," "could," "should," "will," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," or“may,” “will,” “can,” “anticipates,” “believes,” “expects,” “plans,” “outlook,” “estimates,” “potential,” “assume,” “probable,” “possible,” “continue,” “should,” “could,” “would,” “strive,” “seeks,” “deem,” “projections,” “forecast,” “consider,” “indicative,” “uncertainty,” “likely,” “unlikely,”
““likelihood,” “unknown,” “attributable,” “depends,” “intends,” “generally,” “feel,” “typically,” “judgment,” “subjective” and similar words or
phases of similar meaning. We caution that thephrases. These forward looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward looking statements.
The following factors, among others, could cause our financial performance to differ materially from that expressed in such forward looking statements:
•Changes in the general economic, political, social and health conditions, including the macroeconomic and other challenges and uncertainties resulting from the effects of pandemics and natural disasters;
•The timely development of competitive new products and services and the acceptance of these products and services by new and existing customers;
•The willingness of customers to substitute competitors’ products and services for our products and services;
•Our management of liquidity risks in our operations, including, but not limited to, risks related to customer deposits, deposits in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance coverage limits, access to capital markets and securities and market values;
•The effect of acquisitions we may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions;
•Our management of risks inherent in our real estate loan portfolio, and the risk of a prolonged downturn in the real estate market, which could impair the value of, and our ability to sell, properties which stand as collateral for loans we make;
•Our decision to cease originating residential mortgages;
•The growth and profitability of noninterest or fee income being less than expected;
•Changes in the level of our nonperforming assets and charge-offs;
•Changes in consumer spending and savings habits;
•The impact of climate change or government action and societal responses to climate change;
•Difficulty recruiting or retaining successful bankers, executive officers or other key personnel;
•Changing bank regulatory conditions, policies or programs, whether arising as new legislation or regulatory initiatives, that could lead to restrictions on activities of banks generally, or our subsidiary bank in particular, more restrictive regulatory capital requirements, increased costs, including deposit insurance premiums, regulation or prohibition of certain income producing activities or changes in the secondary market for loans and other products;
•The impact of changes in financial services policies, laws and regulations, including laws, regulations and policies concerning taxes, banking, securities and insurance and the application thereof by regulatory bodies;
•The effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System (“Federal Reserve Board,” “Federal Reserve” or “FRB”), inflation, interest rate, market and monetary fluctuations;
•Results of examinations of us by our regulators, including the possibility that our regulators may, among other things, require us to increase our allowance for credit losses, to write-down assets, to hold more capital or to incur costs to remediate supervisory findings;
•The effects or impact of any litigation, government investigation (whether criminal or civil), regulatory proceeding, including enforcement proceedings and any possibly resulting fines, judgments, expenses or restrictions on our business activities;
•Unanticipated regulatory or judicial proceedings;
•The effect of changes in accounting policies and practices, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board (“PCAOB”) or the Financial Accounting Standards Board (“FASB”);
•Cybersecurity breaches, threats, and cyber-fraud that cause EagleBank to sustain operational disruption, privacy breaches or financial losses;
•Technological and social media changes;
•Our management of risks inherent in the use of statistical and quantitative data and modeling;
•The strength of the United States economy, in general, and the strength of the local economies in which we conduct operations;
•
•Geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; and
••The effects of, and changesfactors discussed under the caption “Risk Factors” in trade, monetary and fiscal policies and laws, including interest rate policies ofour Annual Report on Form 10-K for the Board of Governors of the Federal Reserve System, or the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations;year ended December 31, 2023.
•The timely development of competitive new products and services and the acceptance of these products and services by new and existing customers;
•The willingness of customers to substitute competitors' products and services for our products and services;
•The impact of changes in financial services policies, laws and regulations, including laws, regulations and policies concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies;
•The effect of changes in accounting policies and practices, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters;
•Technological changes;
•The effect of acquisitions we may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions;
•The growth and profitability of non-interest or fee income being less than expected;
•Changes in the level of our non-performing assets and charge-offs;
•Changes in consumer spending and savings habits; and
•Unanticipated regulatory or judicial proceedings. If one or more of the factors affecting our forward looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward looking information and statements contained in this prospectus, supplement and the accompanying prospectus, and in the information incorporated by reference herein and therein. Therefore, we caution youherein. You should not to place undue reliance on our forward looking information and statements. We will not update the forward looking statements to reflect actual results or changes in the factors affecting the forward looking statements.
We file annual, quarterly, and current reports, proxy statements and other information with the SEC. You
may read and copy, at prescribed rates, any documents we have filed with the SEC at its Public Reference Room located at 100 F Street, N.E., Washington, DC 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. We also file these documents with the SEC electronically. You can access the electronic versions of these filings on the
SEC'sSEC’s internet website found at http://www.sec.gov. You may also obtain free copies of the documents we have filed with the SEC (other than exhibits to such documents unless we specifically incorporate by reference an exhibit in this prospectus) by contacting Jane E. Cornett, Corporate Secretary, Eagle Bancorp, Inc.,
7815 Woodmont Avenue,7830 Old Georgetown Road, Third Floor, Bethesda, Maryland 20814, telephone 301.986.1800, or from our internet website at http://www.eaglebankcorp.com.
Websites that are cited or referred to in this prospectus do not constitute part of, and are not incorporated by reference in, this prospectus or any accompanying prospectus supplement.
We have filed with the SEC a registration statement on Form S-3 relating to the securities covered by this prospectus. This prospectus is a part of the registration statement and does not contain all the information in the registration statement. Whenever a reference is made in this prospectus to a contract or other document, the reference is only a summary and you should refer to the exhibits that are a part of the registration statement for a
copy of the contract or other document. You may review a copy of the registration statement
at the SEC's Public Reference Room in Washington, D.C., as well as through the
SEC'sSEC’s internet website.
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
The SEC allows us to
"incorporate“incorporate by
reference"reference” information into this prospectus from the documents listed below that we have previously filed with the
SEC (file no. 000-25923)SEC. This means that we can disclose important information to you by referring you to another document without restating that information in this document. Any information incorporated by reference into this prospectus is considered to be part of this prospectus from the date we file that document. Any reports filed by us with the SEC after the date of this prospectus
supplementthat are incorporated by reference will automatically update and, where applicable, supersede, any information contained in this prospectus or incorporated by reference in this prospectus.
We incorporate by reference into this prospectus the following documents or information filed with the SEC (other than, in each case, documents, or information deemed to have been furnished and not filed in accordance with SEC rules):
(c)Our Current ReportsReport on Form 8-K filed on February 10, 2012 (as amended March 1, 2012), February 10, 2012, February 13, 2012, March 15, 2012, March 30, 2012, April 27, 2012, May 1, 2012, May 18, 2012, June 27, 201228, 2024; and July 30, 2012; and
All documents that we file with the SEC under Section 13(a), 13(c), 14, or 15(d) of the Exchange Act
(i) after the date of the registration statement and prior to the effectiveness of the registration statement
and (ii) on or after the date of this prospectus and prior to the termination of the offering also will be deemed to be incorporated by reference. These additional documents will be deemed to be incorporated by reference, and to be a part of, this prospectus from the date of their filing. These documents include proxy statements and periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and, to the extent they are considered filed, Current Reports on Form 8-K. Information incorporated by reference from later filed documents supersedes information
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that is included in this prospectus or any applicable prospectus supplement or is incorporated by reference from earlier documents, to the extent that they are inconsistent.
You should rely only oncan obtain any of the information contained ordocuments incorporated by reference in this prospectus. document through us, or from the SEC through the SEC’s website at www.sec.gov. You may also request a copy of any of the documents referred to above, other than an exhibit to a filing unless that exhibit is specifically incorporated by reference into that filing, at no cost, by contacting Eagle in writing or by telephone at:
Eagle Bancorp, Inc.
7830 Old Georgetown Road, Third Floor,
Bethesda, Maryland 20814
(301) 986-1800
Attention: Corporate Secretary
We have not authorized anyone to provide you with information that is different from what is contained in this prospectus. This prospectus is dated
, 2012.May 7, 2024. You should not assume that the information contained in this prospectus is accurate as of any date other than that date.
Eagle Bancorp, Inc. is the
registered bank holding company for EagleBank, Bethesda, Maryland, a Maryland chartered commercial bank which is a member of the Federal Reserve System. We were organized in October 1997 to be the holding company for EagleBank, which commenced operations in July 1998.
EagleBank is headquartered in Bethesda, Maryland, and operates through thirteen branch offices, located in Suburban Maryland, Washington, D.C. and Northern Virginia. We are a growth oriented institution, providing a high level of service and developing deepfocus on building relationships with our customers. We offer a broad range of commercial banking services to our businessbusinesses professions and professional clients as well as full service consumer banking services to individuals living and/or working primarily in our service area. EagleBank was organized as an alternative tomarketplace.
Our common stock is listed on the
super-regional financial institutions which dominate our market area. EagleBank's philosophy is to provide superior, personalized service to our customers. EagleBank focuses on relationship banking, providing each customer with a number of services, becoming familiar with and addressingNasdaq Capital Market under the
customer's needs in a proactive personalized fashion.symbol “EGBN.”
Our principal executive offices are located at 7815 Woodmont Avenue,7830 Old Georgetown Road, Third Floor, Bethesda, Maryland 20814, and our telephone number is 301.986.1800.
Our internet address is http://www.eaglebankcorp.com. Our website does not constitute part of, and is not incorporated by reference into, this prospectus.
An investment in our securities involves various risks. Before making an investment decision, you should carefully read and consider the risk factors incorporated by reference in this prospectus, as well as those contained in any applicable prospectus supplement, as the same may be updated from time to time by our future filings with the SEC under the Exchange Act. You should also refer to other information contained in or incorporated by reference in this prospectus and any applicable prospectus supplement, including our financial statements and the related noted incorporated by reference herein or therein. Additional risks and uncertainties not presently known to us at this time or that we currently deem immaterial may also materially and adversely affect our business and operations.
Unless otherwise set forth in a prospectus supplement, we intend to use the net proceeds from the sale of the securities for general corporate purposes. General corporate purposes may include, among other purposes, contribution to the capital of our subsidiaries, including
EagleBank, to support organic growth, de novo branching and opportunistic acquisitions, should appropriate acquisition opportunities arise;EagleBank; the repayment of our
debt; redemptiondebt, including our outstanding 5.75% subordinated notes due September 1, 2024; dividends and redemptions or
repurchaserepurchases of our capital
stock, including the preferred stock held by the Secretary of the Treasury, or the Treasury;stock; and investments in activities
whichthat are permitted for bank
holding companies or financial holding companies. We may temporarily invest funds that we do not immediately need for these purposes in investment securities or use them to make payments on our borrowings. The applicable prospectus supplement will provide details on the use of proceeds of any specific offering.
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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
Our consolidated ratio of earnings to combined fixed charges and preferred dividends for each of the five fiscal years ended December 31, 2011 and each of the six month periods ended June 30, 2012 and 2011 are as set forth in the following table.
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| | Six Months
Ended
June 30, | | Year Ended December 31, | |
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| | 2012 | | 2011 | | 2011 | | 2010 | | 2009 | | 2008 | | 2007 | |
|---|
Ratio of earnings to fixed charges and preferred dividends:
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Including interest on deposits
| | | 3.96x | | | 2.28x | | | 2.60x | | | 2.09x | | | 1.45x | | | 1.47x | | | 1.50x | |
Excluding interest on deposits
| | | 15.11x | | | 5.63x | | | 7.93x | | | 5.79x | | | 2.71x | | | 3.56x | | | 4.05x | |
For purposes of calculating the ratio of earnings to fixed charges and preferred dividends, earnings are the sum of:
•net income before taxes; and
•fixed charges.
For purposes of calculating the ratio of earnings to fixed charges and preferred dividends, fixed charges are the sum of:
•interest expenses, including interest on deposits, and, in the second alternative shown above, excluding interest on deposits; and
•that portion of net rental expense deemed to be the equivalent to interest on long-term debt.
DESCRIPTION OF THE SECURITIES WE MAY OFFER
This prospectus contains summary descriptions of our common stock, preferred stock, warrants, depositary shares, debt securities,
purchase contracts and units that we may offer from time to time. These summary descriptions are not meant to be complete descriptions of each security. The particular terms of any security will be described in the applicable prospectus supplement and other offering material. The applicable prospectus supplement may add, update or change the terms and conditions of the securities as described in this prospectus.
DESCRIPTION OF COMMON STOCK
Under our
articlesArticles of
incorporation,Incorporation, as amended, we are authorized to issue up to
50,000,000100,000,000 shares of common stock, $0.01 par value per share. As of
JulyMarch 31,
20122024, there were
20,811,21830,185,732 shares of common stock outstanding, and an aggregate of
1,143,466960,048 shares of common stock are reserved for issuance upon the exercise of outstanding stock options and warrants to purchase shares of common stock.
Our common stock is listed for trading on the Nasdaq Capital Market under the symbol "EGBN."
Voting Rights. Holders of common stock are entitled to cast one vote for each share held of record,record. Shareholders do not have cumulative voting rights. Shareholders do not have the ability to act by written consent unless the
written consent is signed by each shareholder entitled to vote on the matter and a written waiver of any rights to dissent is signed by each shareholder entitled to notice but not entitled to vote at the meeting.
Preemptive Rights. Holders of common stock do not have preemptive rights or other rights to subscribe for additional shares, except as the board of directors may specifically authorize in connection with any offering.
Dividend Rights. Holders of the common stock have the right to receive such dividends as may be declared by ourthe board of directors out of legally available funds, and,pro rata, subject to the rights of any class or series of stock having preference to the common stock.
Regulations of the Federal Reserve Board and Maryland law place limits on the amount of dividends EagleBank may pay to the Company without prior approval. Prior regulatory approval is required to pay dividends which exceed EagleBank’s net profits for the current year plus its retained net profits for the preceding two calendar years, less required transfers to surplus. Under Maryland law, dividends may only be paid out of retained earnings. State and federal bank regulatory agencies also have authority to prohibit a bank from paying dividends if such payment is deemed to be an unsafe or unsound practice, and the Federal Reserve Board has the same authority over bank holding companies.
The Federal Reserve Board has established requirements with respect to the maintenance of appropriate levels of capital by registered bank holding companies. Compliance with such standards, as presently in effect, or as they may be amended from time to time, could limit the amount of dividends that the Company may pay in the future. The Federal Reserve Board has issued guidance regarding the situations in which a bank holding company should consider eliminating, reducing, or deferring its dividends, including if the net income available to shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividends; the prospective rate of earnings retention is not consistent with capital needs and the bank holding company’s overall current and prospective financial condition; or the bank holding company will not meet, or is in danger of not meeting, its minimum regulatory capital adequacy ratios. As a depository institution, the deposits of which are insured by the FDIC, EagleBank may not pay dividends or distribute any of its capital assets while it remains in default on any assessment due the FDIC.
Liquidation Rights. Subject to the rights of any class or series of stock having preference to the common stock, holders of the common stock have the right to share ratably in any distribution of our assets after payment of all debts and other liabilities, upon liquidation, dissolution or winding up. Shareholders do not have cumulative voting rights or preemptive rights or other rights to subscribe for additional shares, and the
Conversion Rights. The common stock is not subject to conversionconvertible into, or redemption.
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Our ability to pay dividends on the common stock is restricted by the provisionsexchangeable for, any other class of the Senior Non-Cumulative Perpetual Preferred Stock, Series B, or Series B Preferred Stock, issued to the Treasury under the Small Business Lending Fund Program, or SBLF. Under the terms of the Series B Preferred Stock, no repurchases may be effected, and no dividends may be declared or paid on preferred shares ranking pari passu with the Series B Preferred Stock, junior preferred shares, or other junior securities (including the common stock) during the current quarter and for the next three quarters following the failure to declare and pay dividends on the Series B Preferred Stock, except that, in any such quarter in which the dividend is paid, dividend payments on shares ranking pari passu may be paid to the extent necessary to avoid any resulting material covenant breach. As of the date hereof, we have not failed to declare and pay in a timely manner any dividend on the Series B Preferred Stock.
Under the terms of the Series B Preferred Stock, we may only declare and pay a dividend on the common stock or other stock junior to the Series B Preferred Stock, or repurchase shares of any such class or series of stock, if, after payment of such dividend, the dollar amount of Eagle's Tier 1 Capital would be at least equal to the Tier 1 Dividend Threshold. The Tier 1 Dividend Threshold is subject to reduction, beginning on the second anniversary of issuance of the Series B Preferred Stock and ending on the tenth anniversary, by 10% for each one percent increase in qualified small business lending, or QSBL, over the baseline level.
Company’s capital stock.
Restrictions on Ownership.Ownership. The Bank Holding Company Act of 1956, as amended, or BHC Act, generally would prohibit any company that is not engaged in banking activities and activities that are permissible for a bank holding company or a financial holding company from acquiring control of Eagle.the Company. Control is generally defined as ownership of 25% or more of thea class of voting stock or other exercise of a controlling influence. Under the BHC Act, any existing bank holding company would require the prior approval of the Federal Reserve Board, before acquiring 5% or more of thea class of voting stock of Eagle.the Company. In addition, the Change in Bank Control Act of 1978, as amended, or CBC Act, prohibits a person or group of persons from acquiring "control"“control” of a bank holding company unless the Federal Reserve Board has been notified and has not objected to the transaction. UnderFor purposes of the CBC Act, there is a rebuttable presumption established by the Federal Reserve Board the acquisition of 10%control if a person or group of persons acting in concert acquires 10 percent or more of a class of voting stock of a bank holding company with a class of securities registered under Section 12 of the Exchange Act, such as Eagle, would, under the circumstances set forth in the presumption, constitute acquisition of control of a bank holding company.stock. Transfer Agent.Agent. The Transfer Agent for the common stock is Computershare Shareholder Services, 250150 Royall Street, Canton, Massachusetts 02021. Listing. The common stock is traded on the Nasdaq Stock Market under the trading symbol “EGBN.”
Selected Provisions of Our Articles of Incorporation and Maryland Law
Consideration of Business Combinations. Our articlesArticles of incorporationIncorporation provide that where the board of directors evaluates any actual or proposed business combination, it shall consider the following factors: the effect of the business combination on the corporation and its subsidiaries, and their respective shareholders, employees, customers and the communities which they serve; the timing of the proposed business combination; the risk that the proposed business combination will not be consummated; the reputation, management capability and performance history of the person proposing the business combination; the current market price of the corporation'scorporation’s capital stock; the relation of the price offered to the current value of the corporation in a freely negotiated transaction and in relation to the directors'directors’ estimate of the future value of the corporation and its subsidiaries as an independent entity or entities; tax consequences of the business combination to the corporation and its shareholders; and such other factors deemed by the directors to be relevant. In such considerations, the board of directors may consider all or some of such factors as a whole and may or may not assign relative weights to any of them. The foregoing is not intended as a definitive list of factors to be considered by the board of directors in the discharge of their fiduciary responsibility to the corporationCompany and its shareholders, but rather to guide such consideration and to provide specific authority for the
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consideration by the board of directors of factors which are not purely economic in nature in light of the circumstances of the corporation and its subsidiaries at the time of such proposed business combination.
Amendment of the Articles of Incorporation.In general, the articlesour Articles of incorporationIncorporation may be amended upon the vote of two-thirds of the outstanding shares of capital stock entitled to vote, the standard vote required under Maryland law. Unless the proposed amendment adversely affects the rights of the Series B Preferred Stock, the holders of Series B Preferred Stock will not have the right to vote on any amendment to the articles of incorporation. Restrictions on Business Combinations with Interested Shareholders.Section 3-602 of the Maryland General Corporation Law or the MGCL,(the “MGCL”), as in effect on the date hereof, imposes conditions and restrictions on certain "business combinations"“business combinations” (including, among other transactions, a merger, consolidation, share exchange, or, in certain circumstances, an asset transfer or issuance of equity securities) between a Maryland corporation and any person who beneficially owns at least 10% of the corporation'scorporation’s stock (an "interested shareholder"“interested shareholder”). Unless approved in advance by the board of directors, or otherwise exempted by the statute, such a business combination is prohibited for a period of five years after the most recent date on which the interested shareholder became an interested shareholder. After such five-year period, a business combination with an interested shareholder must be: (a) recommended by the corporation'scorporation’s board of directors, and (b) approved by the affirmative vote of at least (i) 80% of the corporation'scorporation’s outstanding shares entitled to vote and (ii) two-thirds of the outstanding shares entitled to vote which are not held by the interested shareholder with whom the business combination is to be effected, unless, among other things, the corporation'scorporation’s common shareholders receive a "fair price"“fair price” (as defined by the statute) for their shares and the consideration is received in cash or in the same form as previously paid by the interested shareholder for his or her shares. The articlesOur Articles of incorporationIncorporation and our bylawsBylaws do not include any provisions imposing any special approval requirements for a transaction with a major shareholder, and they do not opt out from the operation of Section 3-602. Control Share Acquisition Statute.Under the MGCL'sMGCL’s control share acquisition law, as in effect on the date hereof, voting rights of shares of stock of a Maryland corporation acquired by an acquiring person at ownership levels of 10%, 331/3%33-1/3% and 50% of the outstanding shares are denied unless conferred by a special shareholder vote of two-thirds of the outstanding shares held by persons other than the acquiring person and officers and directors of the corporation or, among other exceptions, such acquisition of shares is made pursuant to a merger agreement with the corporation or the corporation'scorporation’s charter or bylawsBylaws permit the acquisition of such shares prior to the acquiring person'sperson’s acquisition thereof. Unless a corporation'scorporation’s charter or bylaws provide otherwise, the statute permits such corporation to redeem the acquired shares at "fair value"“fair value” if the voting rights are not approved or if the acquiring person does not deliver a "control“control share acquisition statement"statement” to the corporation on or before the tenth day after the control share acquisition. The acquiring person may call a shareholder'sshareholder’s meeting to consider authorizing voting rights for control shares subject to meeting disclosure obligations and payment of costs set out in the statute. If voting rights are approved for more than 50% percent of the outstanding stock, objecting shareholders may have their shares appraised and repurchased by the corporation for cash. The articlesOur Articles of incorporationIncorporation and bylaws of EagleBylaws do not include any provisions restricting the voting ability of major shareholders, and do not opt out from the operation of the control share acquisition law.
DESCRIPTION OF PREFERRED STOCK
Under our
articlesArticles of
incorporation,Incorporation, as amended, we are authorized to issue up to 1,000,000 shares of preferred stock, $0.01 par value per
share, of which 56,600 are designated as Series B Preferred Stock.share. Our board of directors may, from time to time, by action of a majority, issue shares of the
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authorized, undesignated preferred stock, in one or more classes or series. In connection with any such issuance, our board of directors may by resolution determine the designation, voting rights, preferences as to dividends, in liquidation or otherwise, participation, redemption, sinking fund, conversion, dividend or other special rights or powers, and the limitations, qualifications and restrictions of such shares of preferred stock.
Prior to the issuance of a new series of preferred stock, we will amend our
articlesArticles of
incorporationIncorporation by filing articles supplementary, which will designate the number of shares of that series and the terms of that series. The issuance of any preferred stock could adversely affect the rights of the holders of common stock and, therefore, reduce the value of the common stock. The ability of our board of directors to issue preferred stock could discourage, delay or prevent a takeover or other corporate action.
The terms of any particular series of preferred stock will be described in the prospectus supplement relating to that particular series of preferred stock, including, where applicable:
•the designation, stated value and liquidation preference of such preferred stock and the number of shares offered;
•
•the offering price;
•
•the dividend rate or rates (or method of calculation), the date or dates from which dividends shall accrue, and whether such dividends shall be cumulative or noncumulative and, if cumulative, the dates from which dividends shall commence to cumulate;
•
•any redemption or sinking fund provisions;
•
•the terms and conditions, if any, on which shares of such series shall be convertible or exchangeable for shares of our stock of any other class or classes, or other series of the same class, or other security;
•
•the voting rights, if any, of shares of such series;
•
•the status as to reissuance or sale of shares of such series redeemed, purchased or otherwise reacquired, or surrendered to us on conversion or exchange;
•
•the conditions and restrictions, if any, on the payment of dividends or on the making of other distributions on, or the purchase, redemption or other acquisition by us or any subsidiary, of the common stock or of any other class of our shares ranking junior to the shares of such series as to dividends or upon liquidation;
•
•the conditions and restrictions, if any, on the creation of indebtedness of us or of any subsidiary, or on the issuance of any additional stock ranking on a parity with or prior to the shares of such series as to dividends or upon liquidation; and•
•any additional dividend, liquidation, redemption, sinking or retirement fund and other rights, preferences, privileges, limitations and restrictions of such preferred stock; andstock.
Unless otherwise specified in the applicable prospectus supplement, each series of preferred stock will, upon issuance, rank senior to the common stock and on a parity in all respects with each other outstanding series of preferred stock. The rights of the holders of our preferred stock will be subordinate to those of our
general creditors. The description of any series of preferred stock which may be issued is qualified by reference to the provisions of the applicable articles supplementary establishing the terms of such series.
The transfer agent and registrar for the preferred stock will be set forth in the applicable prospectus supplement.
Table of Contents Series B Preferred Stock. We currently have outstanding 56,600 shares of Series B Preferred Stock, all of which was issued to the Treasury under the SBLF on July 14, 2011. The Series B Preferred Stock has a liquidation amount of $1,000 per share, which would be paid to the holder of the Series B Preferred Stock upon liquidation, dissolution or winding up of Eagle, prior to any payment to the holders of common stock or any other security ranking junior to the Series B Preferred Stock. The Series B Preferred Stock is entitled to receive non-cumulative dividends on a quarterly basis. The annualized dividend rate, as a percentage of the liquidation amount, can fluctuate on a quarterly basis during the first ten quarters during which the Series B Preferred Stock is outstanding, based upon changes in the level of QSBL. The dividend rate for the first four dividend periods was one percent (1%). For the fifth through ninth calendar quarters, the dividend rate may be adjusted to between one percent (1%) and five percent (5%) per annum, to reflect the amount of change if any, in EagleBank's level of qualified small business lending, or QSBL. If the level of EagleBank's qualified small business loans declines so that the percentage increase in QSBL as compared to the baseline level is less than ten percent (10%), then the dividend rate payable on the Series B Preferred Stock would increase. For the tenth calendar quarter through four and one half years after issuance, the dividend rate will be fixed at between one percent (1%) and seven percent (7%) based upon the increase in QSBL as compared to the baseline. After four and one half years from issuance, the dividend rate will increase to nine percent (9%).
The Series B Preferred Stock may be redeemed at any time at our option, at a redemption price of 100% of the liquidation amount plus accrued but unpaid dividends to the date of redemption for the current period, subject to the approval of our federal banking regulator.
The Series B Preferred Stock is non-voting, except in limited circumstances. In the event that we miss five dividend payments, whether or not consecutive, the holder of the Series B Preferred Stock will have the right, but not the obligation, to appoint a representative as an observer on Eagle's board of directors. In the event that we miss six dividend payments, whether or not consecutive, and if the then outstanding aggregate liquidation amount of the Series B Preferred Stock is at least $25,000,000, then the holder of the Series B Preferred Stock will have the right to designate two directors to Eagle's board of directors.
The provisions of the Series B Preferred Stock restrict the payment of dividends on, or purchases of, the common stock, under certain circumstances. See "Description of Common Stock" for additional information.
DESCRIPTION OF WARRANTS
We may issue warrants in one or more series to purchase common stock, preferred stock, depositary shares, or any combination of those securities. Warrants may be issued independently or together with the underlying securities, and may be attached to or separate from the underlying securities. We may issue series of warrants under a separate warrant agreement between us and a warrant agent. The following descriptions outline some of the general terms and provisions of the warrants that we may issue from time to time. Specific terms of a series of warrants and any related warrant agreement will be stated in the applicable prospectus supplement. The following description and any description of a series of warrants in a prospectus supplement are not complete and are subject to and qualified in their entirety by reference to the terms and provisions of the warrants and any related warrant agreement, which we will file with the SEC in connection with the issuance of that series of warrants. We urge you to read any applicable warrant agreements and warrant certificates, because those documents, and not these descriptions, define your rights as a holder of warrants.
The applicable prospectus supplement will describe the following terms, where applicable, of warrants in respect of which this prospectus is being delivered:
•the title of the warrants;
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•the designation, amount and terms of the securities for which the warrants are exercisable and the procedures and conditions relating to the exercise of such warrants;
•the designation and terms of the other securities, if any, with which the warrants are to be issued and the number of warrants issued with each such security;
•the price or prices at which the warrants will be issued;
•the aggregate number of warrants;
•any provisions for adjustment of the number or amount of securities receivable upon exercise of the warrants or the exercise price of the warrants;
•the price or prices at which the securities purchasable upon exercise of the warrants may be purchased;
•if applicable, a discussion of the material U.S. federal income tax considerations applicable to the warrants;
•the date on which the right to exercise the warrants shall commence and the date on which the right shall expire;
•the maximum or minimum number of warrants which may be exercised at any time;
•whether the warrants are to be issued in registered or bearer form;
•whether the warrants are extendible and the period or periods of such extendibility;
•the identity of any warrant agent; and
•any other terms of the warrants, including terms, procedures and limitations relating to the exchange, transfer and exercise of the warrants.
Before exercising their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including the right to receive dividends, if any, or payments upon our liquidation, dissolution or winding-up or to exercise voting rights, if any.
DESCRIPTION OF DEPOSITARY SHARES
We may offer fractional interests in shares of our preferred stock, rather than full shares of preferred stock. If we do, we will provide for the issuance by a depositary to the public of receipts for depositary shares, each of which will represent a fractional interest in a share of a particular series of preferred stock.
The shares of any series of preferred stock underlying the depositary shares will be deposited under a separate deposit agreement between us and a bank or trust company having its principal office in the United States and having a combined capital and surplus of such amount as may be set forth in the applicable prospectus supplement, which we refer to in this section as the depositary. We will name the depositary in the applicable prospectus supplement. Subject to the terms of the deposit agreement, each owner of a depositary share will have a fractional interest in all the rights and preferences of the preferred stock underlying the depositary share. Those rights include any dividend, voting, redemption, conversion and liquidation rights.
The depositary shares will be evidenced by depositary receipts issued under the deposit agreement. If you purchase fractional interests in shares of the related series of preferred stock, you will receive depositary receipts as described in the applicable prospectus supplement. Unless we specify otherwise in the applicable prospectus supplement, you will not be entitled to receive the whole shares of preferred stock underlying the depositary shares.
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Unless otherwise provided in the applicable prospectus supplement or required by law, the form of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may be amended at any time by an agreement between us and the depositary. Unless otherwise provided in the applicable prospectus supplement or required by law, a deposit agreement may be terminated by either the depositary or us only if:
•all outstanding depositary shares relating to the deposit agreement have been redeemed; or
••there has been a final distribution on the preferred stock of the relevant series in connection with our liquidation, dissolution or winding up and the distribution has been distributed to the holders of the related depositary receipts evidencing the depositary shares.If necessary, the prospectus supplement will provide a description of U.S. Federal income tax consequences relating to the purchase and ownership of the series of depositary shares offered by that prospectus supplement.
We will pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. We will pay charges of the depositary associated with the initial deposit and any redemption of the preferred stock. Holders of depositary shares will pay transfer and other taxes and governmental charges, and any other charges that are stated to be their responsibility in the deposit agreement.
The depositary will forward to the holders of depositary shares all reports and communications that it receives from us, and that we are required to furnish to the holders of the preferred stock. The description in the applicable prospectus supplement and other offering material of any depositary shares we offer will not necessarily be complete and will be qualified in its entirety by reference to the applicable depositary agreement, which will be filed with the SEC if we offer depositary shares, and the terms of the underlying preferred stock.
We may issue warrants in one or more series to purchase common stock, preferred stock, depositary shares, or any combination of those securities. Warrants may be issued independently or together with the underlying securities, and may be attached to or separate from the underlying securities. We may issue series of warrants under a separate warrant agreement between us and a warrant agent. This section describes the general terms and provisions of the warrants. The prospectus supplement will describe the specific terms of the warrants offered
through that prospectus supplement and any general terms outlined in this section that will not apply to those warrants.
The following description and any description of a series of warrants in a prospectus supplement are not complete and are subject to and qualified in their entirety by reference to the terms and provisions of the warrants and any related warrant agreement, which we will file with the SEC in connection with the issuance of that series of warrants. We urge you to read any applicable warrant agreements and warrant certificates, because those documents, and not these descriptions, define your rights as a holder of warrants.
The applicable prospectus supplement will describe the following terms, where applicable, of warrants in respect of which this prospectus is being delivered:
•the title of the warrants;
•the designation, amount and terms of the securities for which the warrants are exercisable and the procedures and conditions relating to the exercise of such warrants;
•the designation and terms of the other securities, if any, with which the warrants are to be issued and the number of warrants issued with each such security;
•the price or prices at which the warrants will be issued;
•the aggregate number of warrants;
•any provisions for adjustment of the number or amount of securities receivable upon exercise of the warrants or the exercise price of the warrants;
•the price or prices at which the securities purchasable upon exercise of the warrants may be purchased;
•if applicable, a discussion of the material U.S. federal income tax considerations applicable to the warrants;
•the date on which the right to exercise the warrants shall commence and the date on which the right shall expire;
•the maximum or minimum number of warrants which may be exercised at any time;
•whether the warrants are to be issued in registered or bearer form;
•whether the warrants are extendible and the period or periods of such extendibility;
•the identity of any warrant agent; and
•any other terms of the warrants, including terms, procedures and limitations relating to the exchange, transfer and exercise of the warrants.
Before exercising their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including the right to receive dividends, if any, or payments upon our liquidation, dissolution or winding-up or to exercise voting rights, if any.
DESCRIPTION OF DEBT SECURITIES
The following is a description of the material features, terms and provisions of debt securities that we may offer. This summary does not purport to be exhaustive and may not contain all the information that is important to you.
Therefore, you should read the applicable prospectus supplement relating to those debt securities and any other offering materials that we may provide.
We may issue debt securities from time to time in one or more series. We may issue senior debt securities or subordinated debt securities under one or separate indentures, which may be supplemented or amended from time to time. Senior debt securities would be issued under one or more senior indentures and subordinated debt securities would be issued under one or more subordinated
indentures.indentures, including the Subordinated Indenture, dated as of August 5, 2014, between Eagle Bancorp, Inc., as Issuer, and Wilmington Trust, National Association, as Trustee (the “2014 Subordinated Indenture”). Any senior debt indentures and subordinated debt indentures are referred to individually in this prospectus as the indenture, and collectively as the indentures.
The particular terms of a series of debt securities will be described in a prospectus supplement relating to such series of debt securities. Any indentures will be subject to and governed by the Trust Indenture Act of 1939, as amended, and may be supplemented or amended from time to time following their execution. Unless otherwise stated in the applicable prospectus supplement, we will not be limited in the amount of debt securities that we may issue, and neither the senior debt securities nor the subordinated debt securities will be secured by any of our property or assets. Thus, by owning debt securities, you are one of our unsecured creditors.
We are a holding company and conduct substantially all of our operations
thoughthrough subsidiaries. As a result, claims of holders of debt securities will generally have a junior position to claims of creditors of our subsidiaries (including, without limitation, EagleBank). In addition, our right to participate as a stockholder in any distribution of assets of any subsidiary (and thus the ability of holders of debt
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securities to benefit from such distribution as our creditors) is junior to creditors of each subsidiary, including depositors of the Bank.
EagleBank.
Any indentures will contain the full legal text of the matters described in this section of the prospectus. Because this section is a summary, it does not describe every aspect of the debt securities or any applicable indentures. This summary is therefore subject to and is qualified in its entirety by reference to all the provisions of any applicable indenture, including any definitions of terms used in such indenture. Your rights will be defined by the terms of any applicable indenture, not the summary provided herein. This summary is also subject to and qualified by reference to the description of the particular terms of a particular series of debt securities described in the applicable prospectus supplement or supplements.Wilmington Trust, National Association, acts as the Trustee, under the 2014 Subordinated Indenture. The 2014 Subordinated Indenture is, and any subordinated notes issued pursuant to that indenture will be, governed by Maryland law except the rights of the Trustee, which are governed by New York law. The debt securities may be denominated and payable in U.S. dollars. We may also issue debt securities, from time to time, with the principal amount, interest or other amounts payable on any relevant payment date to be determined by reference to one or more currency exchange rates, securities or baskets of securities, commodity prices, indices or any other financial, economic or other measure or instrument, including the occurrence or
non-occurrencenon- occurrence of any event or circumstance. In addition, we may issue debt securities as part of any units issued by us. All references in this prospectus or any prospectus supplement to other amounts will include premiums, if any, other cash amounts payable under the applicable indenture, and the delivery of securities or baskets of securities under the terms of the debt securities. Debt securities may bear interest at a fixed rate, which may be zero, or a floating rate.
We will set forth in the applicable prospectus supplement the terms, if any, on which a series of debt securities may be convertible into or exchangeable for our preferred stock, common stock or other securities. We will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions pursuant to which the number of shares of our preferred stock, common stock or other securities that holders of the series of debt securities receive would be subject to adjustment.
The applicable prospectus supplement will describe the debt securities and the price or prices at which we will offer the debt securities. The description will, to the extent applicable, include:
•the title and form of the debt securities;
•the ranking of the debt securities as compared to other debt;
•
•the aggregate principal amount of the debt securities or the series of which they are a part;
•
•the person or persons to whom any principal or interest on a debt security of the series will be paid;
•
•the date or dates on which we must repay the principal;
•
•the rate or rates at which the debt securities will bear interest;
•
•the date or dates from which interest will accrue, and the dates on which we must pay interest;
•
•the place or places where we must pay the principal and any premium or interest on the debt securities;
•
•the terms and conditions on which we may redeem any debt security, if at all;
•
whether the debt securities are entitled to the benefit of any sinking fund;•the identity of the trustee;
•the terms and conditions on which we may redeem any debt security, if at all;
•any obligation to redeem or purchase any debt securities, and the terms and conditions on which we must do so;
•
•the denominations in which we may issue the debt securities;
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•- the manner in which we will determine the amount of principal of or any premium or interest on the debt securities;
•
•the currency in which we will pay the principal of and any premium or interest on the debt securities;
•
•the principal amount of the debt securities that we will pay upon declaration of acceleration of their maturity;
•
•the amount that will be deemed to be the principal amount for any purpose, including the principal amount that will be due and payable upon any maturity or that will be deemed to be outstanding as of any date;
•
•whether the debt securities are defeasible and the terms of such defeasance; and
••any addition to or change in the events of default applicable to the debt securities and any change in the right of the trustee or the holders to declare the principal amount of any of the debt securities due and payable.Some of the debt securities may be issued as original issue discount debt securities. Original issue discount securities bear no interest or bear interest at below market rates and will be sold at a discount below their stated principal amount. A prospectus supplement relating to an issue of original issue discount securities will contain information relating to United States federal income tax, accounting, and other special considerations applicable to original issue discount securities.
DESCRIPTION OF PURCHASE CONTRACTS We may issue purchase contracts, including purchase contracts issued as part of a unit with one or more other securities, for the purchase or sale of our debt securities, preferred stock, depositary shares or common stock. The
price of our debt securities or price per share of common stock, preferred stock or depositary shares, as applicable, may be fixed at the time the purchase contracts are issued or may be determined by reference to a specific formula contained in the purchase contracts. We may issue purchase contracts in such amounts and in as many distinct series as we wish.
The applicable prospectus supplement may contain, where applicable, the following information about the purchase contracts issued under it:
•whether the purchase contracts obligate the holder to purchase or sell, or both purchase and sell, our debt securities, common stock, preferred stock or depositary shares, as applicable, and the nature and amount of each of those securities, or method of determining those amounts;
•whether the purchase contracts are to be prepaid or not;
•whether the purchase contracts are to be settled by delivery, or by reference or linkage to the value, performance or level of our common stock or preferred stock;
•any acceleration, cancellation, termination or other provisions relating to the settlement of the purchase contracts;
•United States federal income tax considerations relevant to the purchase contracts; and
•whether the purchase contracts will be issued in fully registered global form.
The applicable prospectus supplement will describe the terms of any purchase contracts. The preceding description and any description of purchase contracts in the applicable prospectus supplement does not purport to be complete and is subject to and is qualified in its entirety by reference to the purchase contract agreement and, if applicable, collateral arrangements and depositary arrangements relating to such purchase contracts.
We may issue units comprised of one or more of the securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit also is the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately at any time or at any time before a specified date.
The applicable prospectus supplement relating to the units we may offer will include specific terms relating to the offering, including, among others: the designation and terms of the units and of the securities comprising the units, and whether and under what circumstances those securities may be held or transferred separately; any provision for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising those units; and whether the units will be issued in fully registered or global form. This summary is therefore subject to and is qualified in its entirety by reference to all the provisions of any applicable unit agreement, including any definitions of terms used therein. Your rights will be defined by the terms of any applicable unit agreement, not the summary provided herein. This summary is also subject to and qualified by reference to the description of the particular terms of a particular unit described in the applicable prospectus supplement or supplements.
We may sell the securities being offered hereby, from time to time, by one or more of the following methods, or any combination thereof:
•to or through underwriters or dealers, with or without an underwriting syndicate, for them to offer and sell to the public;
•directly to one or more purchasers in negotiated purchases or in competitively bid transactions;
•
•through designated agents;
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•- directly to holders of warrants exercisable for our securities upon the exercise of warrants; or
••- through a combination of any of these methods of sale.
Each time that we use this prospectus to sell our securities, we will also provide a prospectus supplement that contains the specific terms of the offering. We will set forth the terms of the offering of securities in a prospectus supplement, including:
•the name or names of any underwriters, dealers, or agents and the type and amounts of securities underwritten or purchased by each of them;
•
•- the public offering price of the securities and the proceeds to us and compensation, including any discounts, commissions or concessions allowed or reallowed or paid to underwriters or dealers; and
••- any delayed delivery arrangements.
The offer and sale of the securities described in this prospectus by us, the underwriters, or the third parties described above may be effected from time to time in one or more transactions, either:
•at a fixed price or prices, which may be changed;
•
•- at market prices prevailing at the time of sale;
•
•- in
"at“at the market offerings,"” within the meaning of Rule 415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market, on an exchange, or otherwise;
•
•- at prices related to the prevailing market prices; or
Any public offering price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time.
In compliance with guidelines of the Financial Industry Regulatory Authority, or FINRA, the maximum consideration or discount to be received by any FINRA member or independent broker dealer may not exceed 8% of the aggregate amount of the securities offered pursuant to this prospectus and any applicable prospectus supplement.Unless otherwise specified in the related prospectus supplement, each series of securities will be a new issue with no established trading market, other than shares of our common stock, which are listed on NASDAQ. We may elect to list any series of preferred stock or other securities on an exchange, but we are not obligated to do so. It is possible that one or more underwriters may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice.
No assurance can be given asTherefore, we cannot give any assurances to
you concerning the liquidity of
or the trading market for, any
security offered
securities.by this prospectus.
If underwriters are used in the sale of any securities, the securities will be acquired by the underwriters for their own account and may be resold from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. The securities may be either offered to the public through underwriting syndicates represented by managing underwriters, or directly by underwriters. Generally, the
underwriters'underwriters’ obligations to purchase the securities will be subject to certain conditions precedent. The underwriters will be obligated to purchase all of the securities if they purchase any of the securities.
If we use dealers in the sale of securities, we may sell securities to such dealers as principals. The dealers may then resell the securities to the public at varying prices to be determined by such dealers at the time of resale. We may solicit offers to purchase the securities directly, and we may sell the securities directly to institutional or other
investors, who may be deemed underwriters within the meaning of the Securities Act with respect to any resales of those securities. The terms of these sales will be described in the applicable prospectus supplement. If we use agents in the sale of securities,
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unless otherwise indicated in the prospectus supplement, they will use their reasonable best efforts to solicit purchases for the period of their appointment. Unless otherwise indicated in a prospectus supplement, if we sell directly, no underwriters, dealers or agents would be involved. We will not make an offer of securities in any jurisdiction that does not permit such an offer.
We may sell the securities through agents from time to time. The prospectus supplement will name any agent involved in the offer or sale of our securities and any commissions we pay to them. Generally, any agent will be acting on a best efforts basis for the period of its appointment.
We may authorize underwriters, dealers, or agents to solicit offers by certain purchasers to purchase our securities at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. The contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement will set forth any commissions or discounts we pay for solicitation of these contracts.
Agents and underwriters may be entitled to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, or to contribution with respect to payments that the agents or underwriters may be required to make in respect thereof. Agents and underwriters may be customers of, engage in transactions with, or perform services for us in the ordinary course of business.
In connection with any offering, the underwriters may purchase and sell securities in the open market. These transactions may include short sales, over-allotment, stabilizing transactions and purchases to cover positions created by short sales and penalty bids. Short sales involve the sale by the underwriters of a greater number of securities than they are required to purchase in an offering. Over-allotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions consist of certain bids or purchases of the offered securities or any underlying securities made for the purpose of preventing or
retardingreducing a decline in the market price of the securities while an offering is in progress. Short-covering transactions involve purchases of the securities, either through exercise of the over-allotment option or in the open market after the distribution is completed, to cover short positions.
Penalty bids permit the underwritersUnderwriters also may impose a penalty bid, by which selling concessions allowed to
reclaim a selling concession from a dealer whenbroker-dealers in respect of the securities
originally sold
in the offering may be reclaimed by
the dealerunderwriters if such securities are
purchasedrepurchased by underwriters in
a stabilizing or covering
transaction to cover short positions.transactions. These activities by the underwriters may stabilize, maintain or otherwise affect the market price of the securities. As a result, the price of the securities may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued by the underwriters at any time. These transactions may be effected on an exchange or automated quotation system, if the securities are listed on an exchange or admitted for trading on an automated quotation system, in the over-the-counter market, or otherwise.
We may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates in connection with those derivatives then the third parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities received from us in settlement of those derivatives to close out any related open borrowings of securities. The third party in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective amendment).
Underwriters, dealers and agents and their affiliates may be customers of, engage in transactions with, or perform services for us or our subsidiaries in the ordinary course of their businesses. In connection with the distribution of the securities offered under this prospectus, we may enter into swap or other hedging transactions with, or arranged by, underwriters or agents or their affiliates. These
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underwriters or agents or their affiliates may receive compensation, trading gain or other benefits from these transactions.
LEGAL MATTERS
VALIDITY OF SECURITIESExcept as otherwise provided in any prospectus supplement, the validity of the securities offered hereby will be passed upon for us by
BuckleySandlerScott Bernstein, 1st Vice President and Associate General Counsel, EagleBank and, with respect to matters of New York law, by Sullivan & Cromwell LLP, Washington, DC.
Attorneys at BuckleySandler LLP who have been involved in such matters own an aggregateAs of
approximately 6,226May 7, 2024, Mr. Bernstein owns less than 1% of the outstanding shares of
our common stock.the Company.
The consolidated financial statements of Eagle Bancorp, Inc. as of December 31, 2023 and 2022 and for each of the three years in the period ended December 31, 2023 have been audited by Crowe LLP, an independent registered public accounting firm, as set forth in their report on the effectiveness of Eagle's internal control over financial reporting incorporatedappearing in this prospectus by reference to our Annual Report on Form 10-K for the year ended December 31, 2011, as amended,2023 and incorporated in this prospectus by reference. Such consolidated financial statements have been so incorporated in reliance onupon the reportsreport of Stegman & Company, an independent registered public accountingsuch firm given on theupon their authority of said firm as experts in auditingaccounting and accounting.auditing.
PROSPECTUS
Common Stock
Preferred Stock
Warrants
Depositary Shares
Debt Securities
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PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution
| | | | |
SEC Registration Fee | | $ | 14,325 | |
Legal Fees and Expenses | | $ | 20,000 | * |
Accountant's Fees and Expenses | | $ | 10,000 | * |
Printing, Edgar and miscellaneous | | $ | 5,000 | * |
Total | | $ | 49,325 | * |
*Fees payable will depend on the securities offered, the number of issuances and the nature of the offerings, and cannot be estimated at this time.
| | | | | | | | | | | | | | |
| SEC registration fee | $ | 22,140.00 | | |
| Printing, engraving and postage expenses | (1) | |
| Legal fees and expenses | (1) | |
| Trustee fees and expenses | (1) | |
| Accounting fees and expenses | (1) | |
| Rating agency fees | (1) | |
| Miscellaneous expenses | (1) | |
| Total | $ | 22,140.00 | | |
| | |
| (1) These fees will be dependent on the type and dollar amount of securities offered and number of offerings and, therefore, cannot be estimated at this time. Additional information regarding estimated fees and expenses will be provided at the time information is included in a prospectus supplement in accordance with Rule 430B. |
Item 15. Indemnification of Directors and Officers
Article VI of the
Company's articlesCompany’s Articles of
incorporationIncorporation provides that the Company shall, to the full extent permitted and in the manner prescribed by the Maryland General Corporation Law and any other applicable law, indemnify a director or officer of the Company who is or was a party to any proceeding by reason of the fact that he is or was a director or officer, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.
The Company has entered into an indemnification agreement with each of its current directors and executive officers. These agreements require the Company to indemnify these individuals to the maximum extent permitted by Maryland law, subject to certain limits provided in the agreement, against liabilities that may arise by reason of their
service to the Company, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified.
The Maryland General Corporation Law provides, in pertinent part, as follows:
2-418 INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS.—
(a)Definitions.— (1) In this section the following words have the meanings indicated. (2) "Corporation"“Corporation” includes any domestic or foreign predecessor entity of a corporation in a merger, consolidation, or other transaction in which the predecessor'spredecessor’s existence ceased upon consummation of the transaction. (3) "Director"“Director” means any person who is or was a director of a corporation and any person who, while a director of a corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, other enterprise, or employee benefit plan. (4) "Expenses"“Expenses” include attorney'sattorney’s fees. (5)(i) "Official capacity"“Official capacity” means: 1.When used with respect to a director, the office of director in the corporation; and 2.When used with respect to a person other than a director as contemplated in subsection (j), the elective or appointive office in the corporation held by the officer, or the employment or agency relationship undertaken by the employee or agent in behalf of the corporation. (ii) "Official capacity"“Official capacity” does not include service for any other foreign or domestic corporation or any partnership, joint venture, trust, other enterprise, or employee benefit plan. (6) "Party"“Party” includes a person who was, is, or is threatened to be made a named defendant or respondent in a proceeding.II-1
Table of Contents(7) (7) "Proceeding"“Proceeding” means any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative.
(b)Permitted indemnification of a director.— (1) A corporation may indemnify any director made a party to any proceeding by reason of service in that capacity unless it is established that: (i)The act or omission of the director was material to the matter giving rise to the proceeding; and 1.Was committed in bad faith; or 2.Was the result of active and deliberate dishonesty; or (ii)The director actually received an improper personal benefit in money, property, or services; or (iii)In the case of any criminal proceeding, the director had reasonable cause to believe that the act or omission was unlawful.
(2)(i) Indemnification may be against judgments, penalties, fines, settlements, and reasonable expenses actually incurred by the director in connection with the proceeding. (i)However, if the proceeding was one by or in the right of the corporation, indemnification may not be made in respect of any proceeding in which the director shall have been adjudged to be liable to the corporation. (3)(i) The termination of any proceeding by judgment, order, or settlement does not create a presumption that the director did not meet the requisite standard of conduct set forth in this subsection. (i)The termination of any proceeding by conviction, or a plea of nolo contendere or its equivalent, or an entry of an order of probation prior to judgment, creates a rebuttal presumption that the director did not meet that standard of conduct. (4)A corporation may not indemnify a director or advance expenses under this section for a proceeding brought by that director against the corporation, except: (i)For a proceeding brought to enforce indemnification under this section; or (ii)If the charter or bylaws of the corporation, a resolution of the board of directors of the corporation, or an agreement approved by the board of directors of the corporation to which the corporation is a party expressly provide otherwise. (c)No indemnification of director liable for improper personal benefit.—A director may not be indemnified under subsection (b) of this section in respect of any proceeding charging improper personal benefit to the director, whether or not involving action in the director'sdirector’s official capacity, in which the director was adjudged to be liable on the basis that personal benefit was improperly received. (d)Required indemnification against expenses incurred in successful defense.—defense.—Unless limited by the charter: (1)A director who has been successful, on the merits or otherwise, in the defense of any proceeding referred to in subsection (b) of this section shall be indemnified against reasonable expenses incurred by the director in connection with the proceeding, claim, issue, or matter in which the director has been successful.II-2
Table of Contents(2) (2) A court of appropriate jurisdiction, upon application of a director and such notice as the court shall require, may order indemnification in the following circumstances:
(i)If it determines a director is entitled to reimbursement under paragraph (1) of this subsection, the court shall order indemnification, in which case the director shall be entitled to recover the expenses of securing such reimbursement; or (ii)If it determines that the director is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not the director has met the standards of conduct set forth in subsection (b) of this section or has been adjudged liable under the circumstances described in subsection (c) of this section, the court may order such indemnification as the court shall deem proper. However, indemnification with respect to any proceeding by or in the right of the corporation or in which liability shall have been adjudged in the circumstances described in subsection (c) shall be limited to expenses. (3)A court of appropriate jurisdiction may be the same court in which the proceeding involving the director'sdirector’s liability took place. (e)Determination that indemnification is proper.—(1) Indemnification under subsection (b) of this section may not be made by the corporation unless authorized for a specific proceeding after a determination has
been made that indemnification of the director is permissible in the circumstances because the director has met the standard of conduct set forth in subsection (b) of this section.
(i)By the board of directors by a majority vote of a quorum consisting of directors not, at the time, parties to the proceeding, or, if such a quorum cannot be obtained, then by a majority vote of a committee of the board consisting solely of two or more directors not, at the time, parties to such proceeding and who were duly designated to act in the matter by a majority vote of the full board in which the designated directors who are parties may participate; (ii)By special legal counsel selected by the board of directors or a committee of the board by vote as set forth in subparagraph (I) of this paragraph, or, if the requisite quorum of the full board cannot be obtained therefor and the committee cannot be established, by a majority vote of the full board in which directors who are parties may participate; or (iii)By the stockholders. (3)Authorization of indemnification and determination as to reasonableness of expenses shall be made in the same manner as the determination that indemnification is permissible. However, if the determination that indemnification is permissible is made by special legal counsel, authorization of indemnification and determination as to reasonableness of expenses shall be made in the manner specified in paragraph (2)(ii) of this subsection for selection of such counsel. (4)Shares held by directors who are parties to the proceeding may not be voted on the subject matter under this subsection. (f)Payment of expenses in advance of final disposition of action.— (1) Reasonable expenses incurred by a director who is a party to a proceeding may be paid or reimbursed by the corporation in advance of the final disposition of the proceeding upon receipt by the corporation of: (i)A written affirmation by the director of the director'sdirector’s good faith belief that the standard of conduct necessary for indemnification by the corporation as authorized in this section has been met; andII-3
(2)The undertaking required by paragraph (1)(ii) of this subsection shall be an unlimited general obligation of the director but need not be secured and may be accepted without reference to financial ability to make the repayment. (3)Payments under this subsection shall be made as provided by the charter, bylaws or contract or as specified in subsection (e)(2) of this section. (g)Validity of indemnification provision.—The indemnification and advancement of expenses provided or authorized by this section may not be deemed exclusive of any other rights, by indemnification or otherwise, to which a director may be entitled under the charter, the bylaws, a resolution of stockholders of directors, an agreement or otherwise, both as to action in an official capacity and as to action in another capacity while holding such office. (h)Reimbursement of director'sdirector’s expenses incurred while appearing as witness.—This section does not limit the corporation'scorporation’s power to pay or reimburse expenses incurred by a director in connection with an
appearance as a witness in a proceeding at a time when the director has not been made a named defendant or respondent in the proceeding.
(i)Director'sDirector’s service to employee benefit plan.—For purposes of this section: (1)The corporation shall be deemed to have requested a director to serve an employee benefit plan where the performance of the director'sdirector’s duties to the corporation also imposes duties on, or otherwise involves services by, the director to the plan or participants or beneficiaries of the plan: (2)Excise taxes assessed on a director with respect to an employee benefit plan pursuant to applicable law shall be deemed fines; and (3)Action taken or omitted by the director with respect to an employee benefit plan in the performance of the director'sdirector’s duties for a purpose reasonably believed by the director to be in the interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose which is not opposed to the best interests of the corporation. (j)Officer, employee or agent.—Unless limited by the charter: (1)An officer of the corporation shall be indemnified as and to the extent provided in subsection (d) of this section for a director and shall be entitled, to the same extent as a director, to seek indemnification pursuant to the provisions of subsection (d) of this section; (2)A corporation may indemnify and advance expenses to an officer, employee, or agent of the corporation to the same extent that it may indemnify directors under this section; and (3)A corporation, in addition, may indemnify and advance expenses to an officer, employee, or agent who is not a director to such further extent, consistent with law, as may be provided by its charter, bylaws, general or specific action of its board of directors or contract. (k)Insurance or similar protection.—(1) A corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the corporation, or who, while a director, officer, employee, or agent of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, other enterprise, or employee benefit plan against any liability asserted against and incurred by such person in any such capacity or arising out of such person'sperson’s position, whether or not the corporation would have the power to indemnify against liability under the provisions of this section.II-4
Table of Contents(1) (2) A corporation may provide similar protection, including a trust fund, letter of credit, or surety bond, not inconsistent with this section.
(3)
(2)The insurance or similar protection may be provided by a subsidiary or an affiliate of the corporation. (l)Report of indemnification to stockholders.—Any indemnification of, or advance of expenses to, a director in accordance with this section, if arising out of a proceeding by or in the right of the corporation, shall be reported in writing to the stockholders with the notice of the next stockholders'stockholders’ meeting or prior to the meeting.
The exhibits filed as part of this registration statement are as follows:
(a) List of Exhibits
| | | |
Number | | Description | | | | | |
|---|
| Number | | Description |
| 1.1 | | Form of Underwriting Agreement*Agreement1 |
|
4.1 |
|
|
| |
| 4.1 | | Articles Supplementary for Preferred Stock*Stock1 |
4.2 |
4.2 |
|
Form of Preferred Stock Certificate*Certificate1 |
4.3 |
4.3 |
|
Form of Deposit Agreement, including form of Depositary Receipt*Receipt1 |
4.4 |
4.4 |
|
Form of Warrant Agreement, including form of Warrant Certificate*Certificate1 |
4.5 |
4.5 |
|
Form of Unit Certificate*Agreement, including form of Unit Certificate1 |
|
4.6 |
|
| 4.7 |
| Form of Supplemental Indenture for Senior Debt Securities, including form of Senior Debt Security*Security1 |
|
4.7 |
|
| 4.9 |
| Form of Supplemental Indenture for Subordinated Debt Securities, including form of Subordinated Debt Security*Security1 |
|
5.1 |
|
|
|
12 |
|
|
|
23.1 |
|
|
|
23.2 |
|
|
| | |
24 |
24 |
|
Power of Attorney (included on signature page) |
25.1 |
25.1
|
|
Form T-1 Statement of Eligibility and Qualification of the Trustee under the Indenture for Senior Debt Securities*Securities1 |
|
25.2
|
|
|
|
| |
*If applicable, to be filed by an amendment to the Registration Statement or by a Current Report on Form 8-K and incorporated by reference herein.
II-5
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The undersigned registrant hereby undertakes:
(1)To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: 1 If applicable, to be filed by an amendment to the Registration Statement, by a Current Report on Form 8-K or other permitted form type, and incorporated by reference herein.
(i)To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; (ii)To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b)) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation“Calculation of Filing Fee Tables” or “Calculation of Registration Fee"Fee” table, as applicable, in the effective registration statement; and (iii)To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; provided, however, that paragraphs (1)(i), (1)(ii) and (1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement. (2)That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be initial bona fide offering thereof. (3)To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (4) [Intentionally[Intentionally omitted.] (5)That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: (A)Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the Registration Statement as of the date the filed prospectus was deemed part of and included in the Registration Statement; and (B)Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a Registration Statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the Registration Statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of theII-6
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issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the Registration Statement relating to the securities in the Registration Statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof. Provided, however, that no statement made in a Registration Statement or prospectus that is part of the Registration Statement or made in a document incorporated or deemed incorporated by reference into the Registration Statement or prospectus that is part of the Registration Statement will, as to the purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the Registration
Statement or prospectus that was part of the Registration Statement or made in any such document immediately prior to such effective date.
(6)
(1)That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; (ii)Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; (iii)The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and (iv)Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. Filings Incorporating Subsequent Exchange Act Documents By Reference
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant'sregistrant’s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan'splan’s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Request for Acceleration of Effective Date or Filing of Registration Statement Becoming Effective Upon Filing
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission
that such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
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officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
Qualification of Trust Indentures under the Trust Indenture Act of 1939 for Delayed Offerings
The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the Commission under section 305(b)(2) of the Trust Indenture Act.
II-8
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Bethesda, Maryland, on
August 2, 2012. | | | | | |
| | EAGLE BANCORP, INC. |
By: |
|
By: |
|
/s/ RONALD D. PAULSusan G. Riel |
| Ronald D. Paul,Susan G. Riel, President and CEO
|
|
We, the undersigned directors and officers of the Registrant hereby severally constitute and appoint
Ronald D.Susan G. Riel and Paul
and Michael T. Flynn, or either of them,Saltzman as our true and lawful attorney and agent, to do any and all things in our names in the capacities indicated below which either of them may deem necessary or advisable to enable the Registrant to comply with the Securities Act of 1933, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement on Form S-3, including specifically, but not limited to, power and authority to sign for us in our names in the capacities indicated below the registration statement and any and all amendments (including
pre-effective and post-effective amendments) thereto; and we hereby approve, ratify and confirm all that said
Ronald D.Susan G. Riel and Paul
and Michael T. Flynn, or either of them,Saltzman shall do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.
| | | | |
Name
| | Position
| | Date
|
|---|
|
|
|
|
|
/s/ LESLIE M. ALPERSTEIN
Leslie M. Alperstein | | Director | | August 2, 2012 |
/s/ DUDLEY C. DWORKEN
Dudley C. Dworken |
|
Director |
|
August 2, 2012 |
/s/ HARVEY M. GOODMAN
Harvey M. Goodman |
|
Director |
|
August 3, 2012 |
/s/ RONALD D. PAUL
Ronald D. Paul |
|
President, Chairman and Principal Executive Officer of the Company |
|
August 2, 2012 |
/s/ ROBERT P. PINCUS
Robert P. Pincus |
|
Director |
|
August 2, 2012 |
II-9
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| | | | |
| Name | | Position
| | Date
|
|---|
|
|
Position |
|
Date |
/s/ NORMAN R. POZEZ
Norman R. PozezMatthew D. Brockwell | | Director | | August 2, 2012May 6, 2024 |
Donald R. RogersMatthew D. Brockwell |
|
Director |
|
, 2012 |
/s/ LELAND M. WEINSTEIN
Leland M. Weinstein |
|
Director |
|
August 2, 2012 |
/s/JAMES H. LANGMEAD
James H. Langmead Steven Freidkin |
|
Director | May 6, 2024 |
| Steven Freidkin | | | |
| | | |
| /s/ Theresa G. LaPlaca | | Director | May 6, 2024 |
| Theresa G. LaPlaca | | | |
| | | |
| /s/ Leslie Ludwig | | Director | May 6, 2024 |
| Leslie Ludwig | | | |
| | | |
| /s/ Eric R. Newell | | Executive Vice President and Chief Financial Officer of the Company Principal(Principal Financial and Accounting OfficerOfficer) |
May 6, 2024 |
| Eric R. Newell |
August 2, 2012 | | |
| | | |
| /s/ Norman R. Pozez | | Executive Chairman of the Company | May 6, 2024 |
| Norman R. Pozez | | | |
| | | |
| /s/ Kathy A. Raffa | | Director | May 6, 2024 |
| Kathy A. Raffa | | | |
| | | |
| /s/ Susan G. Riel | | President, and Chief Executive Officer of the Company | May 6, 2024 |
| Susan G. Riel | | | |
| | | |
| /s/ James A. Soltesz | | Director | May 6, 2024 |
| James A. Soltesz | | | |
| | | |
| /s/ Benjamin M. Soto | | Director | May 6, 2024 |
| Benjamin M. Soto | | | |
II-10
