EGBN - Earnings call transcript Q3 2019

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Operator

Ladies and gentlemen, thank you for standing by and welcome to The Eagle Bancorp Inc.

Third Quarter 2019 Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

hand Levingston, to Chief to today's host like Charles presentation, Financial now the your conference for I'd Officer. Please go ahead, sir.

Charles Levingston

Good Eagle Thank Financial Victor. morning. Charles is you, Levingston, Officer of Bancorp. This Chief

I Before we some the considered made comments like be remind this may statements. everyone of call would during forward-looking begin that to presentation, the

Company's differ Our Form XX-Q fiscal factors current from on reports XXXX could and statements in identify that quarterly any certain to our made XX-K year, for actual cause projected those this the Form materially the Form reports results X-K forward-looking on morning.

does to future not events The forward-looking Company or of developments. undertake statements result as a or information any new the update

website. the or and remind available in periodic to our the earnings, the think I you guidance. with are that Our or to while SEC sheet good, markets our are online policy growth would Company continued reports not prospects for establish balance we like Company's from is on it that performance the website margin or the

Now, introduce Eagle Susan of President CEO and Bancorp. to would like Riel, the I

Susan Riel

Charles. your I'd Eagle our appreciate third calling of We you morning of to call in for Thank you, the welcome earnings quarter this in your continued XXXX. like interest and all to Bank.

Williams, morning. for Jan questions. Chief Jan usual available our also in this is call the As and Credit be with us Officer, later Charles will

net income third to pleased we the quarter of that for announce I'm with of profitability achieved $XX.X strong quarter million. another

in the among on our United from below ranks X.XX% was return the common on average second third of slightly average quarter the While return still was our the community tangible levels The equity assets of of States. the in XXXX, of XXXX that earnings for and banks highest XX.XX%. is a quarter $XX.X the decrease million quarter and profitability

total loans, XXth, growth assets. market We reached $X report the with deposits in September at very billion we in are pleased to quarter, solid that during and also share

quarter For the to fully XXXX. of per diluted quarter, were the share as $X.XX per share the earnings compared third $X.XX in

press the non-recurring in which significant mentioned there other. each somewhat release, two were items, As expense offset

of share. of for the $XX.X diluted the discuss our exclusive quarter the I fully million that Board would FDIC been remarks. will $X.XX changes or those insurance credit per structure details So in have our the to later and my earnings items,

That was X.XX% the trend that X.XX% not it net the in to industry, a profitability compression to factor of margin quarter. quarter the our margin the ago influencing quarter XXXX. compared across surprising and second year Given the of interest major was in the is X.XX% decrease the for third of the

markets Like pricing the XXXX decrease X.XX% The of loan the for quarter yield the third the many attributable very year. X.XX% been the our in of in the the to rate curve effects environment. of factors. compared has and in clearly in yield was and the our on this the by our portfolio impacted quarter margin as to third disconnect and peers, deposit rates. significantly We felt quarter The interest second several flat margin difficult X.XX% the loan of between was

in lower Loan The pricing directly selective booked have as which decrease our we very impacts this period, in XX% become in was lower to especially loans we rates and booking. portfolio the quarter. during LIBOR yields more market, during loan both transactions related the of on the the is are rates competitive new

average by to deposit deposit growth, at our this strong X deposits, third quarter. year. in for we DDAs interest of while cost deposits X.XX%. quarter, excellent at We the achieve Even reduced equal cost keeping of growth the the of second maintain the in composite we the to X.XX%, were rate funds For quarter to of with XX% bearing points able the basis balances for our quarter

region been pricing by deposits quarter. of have softening we Washington believe The reduce quarter in mix. also the the loan last the seeing work change the well importantly, third was margin asset couple in deposit the this increase in a in of our impacted liquidity over to fourth bodes our Most the for We a months ratio. and liability and to

our money Average core in the deposits added quarter, deposits, liquidity was now additional primarily which we of and funds During went $XXX cost funding market million accounts. without The rate. into increasing accounts for was to third XXX% of $XXX quarter second objective. and greater million ratio quarter, an in was the quarter deposit important loan which an than the for had average the of XXXX, we

times, said not on factor, Eagle we performance efforts key but many all the of maintain on As we one our Bank, focus do have indicators. at just

for as So basis, offsetting the margin a quality quarter to our on deposit prudent and contributions decreased were non-interest loan favorable to strong approach ratio, the income. profitability continued GAAP the efficiency efficiency we from quarter XX.XX% growth, very and expense asset solid for third ratio the was management. continued continued The

quarter; refundable remains insurance during mentioned credit fund The we an credit earlier, assessment, If I we one we've FDIC level, expense deposits. non-recurring two the of As the of reached in XXXX. the quarter which there additional XXXX. the had into target dating received X.XX% paid $XXX,XXX $X.X fund was to nine a FDIC approximately credit above when the fourth fund receive X.XX% of was million items of over back will the total were recognized insured quarters from the

Bank Company reorganized. items of non-recurring acceleration of and million the was expense for the $X share-based of directors certain and other The consolidated as Board compensation, and were an the resigned

two corporate items, some for been Exclusive third non-recurring regarding efficiency ratio the XX.XX%. these have quarter would later have comments of the governance. will We

quarter, of non-recurring average expenses third the year. two in expense items including to Even X.XX% percent non-interest of as the expenses quarter was for of the third -- as assets a X.XX% the compared last ratio

and and expenses, organizational managing structure threshold. systems as make judiciously to $XX the a personnel towards in While we necessary we grow billion regulatory continue investments

XXXX. the the professional fees compared for $X.X to and related XXXX quarter Legal in fees to investigations million and million of quarter quarter were second ongoing the second million third of Legal $X.X of for $XXX,XXX as as the compared $X.X quarter the XXXX to of XXXX. were the for million in quarter third $X.X accounting

to the expect these could at remain fees legal that at end We XXXX. related matters of the elevated through levels least

work growing beyond with have we focus service to to can we fully efforts Bank. much are so handled of concentrated regards engaged. these that senior the In on the Company being agencies. we the management, The law continue few continue investigations, is Most exceptional the customer firms there and we say can to isn't fact the the of within members with by cooperate providing that various

Bank no might I due there normal that are to add restrictions the operations investigations. of on the our regulatory

As began during continued in program. the and primary But before program our went that verified we announcing to quarter. share you third We had program August, the for know, approval previously commencing regulatory our there back approval. repurchase we and received regulator

pleased results repurchase the very program. share the are of to-date We with

that averages, From did EPS calculations an should average on going prior on XXth, per The XXX,XXX fourth are have XXXX, we but accretion inception through date. of quarter more program to program create expires repurchase September Xth forward. the in current extension will an August on third a and XX, during weighted much based repurchased the quarter price Because $XX.XX shares the and of beneficial the share. not program December of evaluate XXXX, at impact the we

unsecured minus our Another the that senior Rating Bond Bank strength they and level. of BBB recent for the reaffirmed Agency the the consistent confirmation performance at by have of A and the plus announcement debt and financial is Company the Company Kroll rating

During showed is XX% a the third in of the rate growth an our of strategic objectives. on increase X.X% for of the with generated of over we quarter, third point-to-point of a quarter quarter growth growth Average The saw third line X.X%. $XXX the loans we in XXXX. quarter loan annualized million rate basis,

The increase total largest last loans small the loans. very four million income The booked during of ADC the of CRE down in the $XXX a quarter over average with was quarters. during $XXX increase quarter in the about from producing loans million, was new

While we demand approval monitoring market, strong throughout the in remained credit loan continue the selective to see and we processes.

very we built continue The quality to relationships our area loan to valued was nurture Eagle through we the whom is bonds and improve can customers. with competitive economy Bank are structure sensitive transactions. Washington and and higher pricing banking we with customers established in strong. Loan our remains

jobs growth white Northern collar It XX,XXX While the of positions. the job of flourish and are at net and annum to continues pace the about The per torrid has pace new Virginia. slowed tech population income new is sector in higher from in the steady XXXX. jobs

Washington Metropolitan third increases indicate Institute the coincident X% The for most the of XXXX quarter quarter at the quarter recent indicators and XXXX. the University XX% Average from George increased reports third and Fuller of the second both deposits for leading in Mason region. over the over

mentioned duration earlier, made the relatively short our I to liquidity quarter relative deposits build loan concerted deposit during As we to to of ratio. effort stay for to reduce still to add -- and the prefer We short a the deposits.

XX% a the September average XXXX. percentage as deposits of CDs as for compared XX, quarter Average at third to total XX% were

the for third XX% XXXX. average DDAs importantly of More quarter

the banking. Our to ability our grow to value retain demonstrate of deposits and approach relationship-first

During the the our of been Bank. supportive base has tremendously months, customer last several

during or this had We attrition have almost deposit no account period.

wonderful staff personnel job our who I communicating with and outstanding done to and would relationship like of service support our commend have a providing managers, to customers. branch

pleased the We Metropolitan on in and FDIC the deposit area. reports are levels from note recent Washington very share to the market

shown growth the while For XX.X% the deposit June the in was Bank of annual market Eagle XX, ending increase XXXX, the period had for report, X.X%. entire

share visibility many Prince grow to new we the with when is week the George's our consider for the country. one in production still growth X.X%, we opened there to and in organic Washington share, of and area the opportunity best market loan markets tremendous continue the in this what We only our but presence County. We increased be office feel analysts of

We opportunities bankers new the and are excited with know market. the staffed have that there who office about

and is and high bank; grow our deliver a touch a The through of community approach has to customer us for been retain continue key is as to we still what that that feel service the we we market. relationship-first

the strategy sensitivity excessive rate moderate to avoid adhering of interest term. ALCO are position for our maintaining a over and We basic rate risk long taking

duration is short million will the of definitely loan as kick was slightly strategy. which in in indexed asset million portfolio loans, income adjustable-rate Non-interest that $X.X a long-term quarter, if quarter We We the a the it pricing the do with we loan portfolio, to plus sensitive have they the but or third XX% floors start structure us loan in of XX% and in our hurt decline correct third of compared the about is of of quarter, us further. it the XXXX. variable LIBOR, loans feel for third are rates XX% during $X.X the to the to grew and as in short-term portfolio to

quality. the June X.XX% as X.XX% The in XX, the a of gain from rates million residential we second Bank as the at The and NPAs as mortgages the compared was had assets quarter $X.X sale a quarter. XXXX, in and September of where At XXXX. was of for ago $X.X $X.X were in to to on quarter the decrease one X.XX% continues third credit during total percentage of benefit to This area maintain the XXXX. million million XXXX XX, compared a year quarter solid

to of and loan the which was compared XX million, end Non-performing June loans amount current XX, in loans were end of XX, million, included quarter third total The the non-performing X.XX% total brought the at at XXXX. XXXX, which the the was $XX.X of as of quarter. shortly after September at at of $XX.X X.XX% X.XX% one loans September

X.XX% of Excluding would non-performing assets. total September that NPAs XX, total at have the X.XX% been would and been of loan, total loans the of loans have

The loans for charge-offs continue loans was in allowance and at third X.XX% the and third end the allowance quarter X.XX% economic X.XX% On evaluate of the history. with provision the current net an aggressive $X.X constantly The to charge-offs status. our the XXXX we're to for basis, loan the XXXX. was minimal for to methodology, just charge-off climate total Net as an million, on quarter of quarter. annualized our expense quarter X.XX% the We of of year-to-date. consistent compared were losses for XXXX placing non-accrual take portfolio approach third

our loans reserved. cleared At XXX% coverage XXX%; was September and as believe the the XX, XXXX, excluding ratio at we XX, XXXX, to Since we our compared XXX% are that base have quarterly September adequately Company. and last shareholders to in press valued of of the the touch and opportunity our call July, advisors about release with status earnings we many had the

from bank our company. realization perhaps a the we but about been growing, a smaller little We years few high a growing changing to have still were Company the mature, ago rapidly the slower more has spoken performing that

We Paul six taking Pozez transition the on for have new been working Ron in Chairman, retirement and and myself. taken through many process of by the our steps before and roles well instances, some months on time, Norman the ago

ways a These and to have activities program, quarters just seen items commenced and appreciation. which third also are we are quarter paying share second the It cash the beyond in two for we the implemented. to are the return last payment results which the include that provide again much of and which the includes the the you plan to our recognition price of two Some repurchase you, quarter, third continue. development, have clear shareholders, in dividends, we the quarter. now They share of in want we re-instituted planning

maintaining sound organization. to ability as announced to strategic are also July, organization committee reorganization the oversight structures earlier in the larger Company enhance our aspects. with We the will provide committed which to a combined changes a In of the all Board's Board, we of

revisiting important also committee matters. management our structures as and management all to risk coordinate so are We better strategic

by fact margin discussed impact the had the market, to able caused of bank. interest also are to to pride, at ratio community capital capital XX, programs the those We profitable, capital improved XXXX. XX.XX% cash and the share growing repurchase the the risk-based were XX.XX% over position. still that well with past the and because We year, highly the capitalized the our with adopt Even on current rate we of strong dividend total from hit program September

the to ratio common tangible Over XX.XX%. XX.XX% improved same period from equity the

but close I'm going important one final with statistics. to

an the growth per of Our XXXX $XX.XX past in my joining to to over That year for $XX.XX again Thank you capital increase profitability Bank. book support your tangible continued remarks. morning the this management XX%. from call and today, have XX, for value share formal concludes the of led September at and Eagle

any pleased be would to at time. questions We take this

Operator

Catherine our of Instructions] Mealor [Operator first come the will KBW. question from And line from

You may begin.

Catherine Mealor

market for most and have I'm lower or expectations going deposit the to maybe about, done in talk you start margin side. dig little into a with know, the bit cost deposit what you Can be given cuts the seeing recent maybe quarter? may as months soon Fed recent accounts just your weeks to and your money as fourth you your ability Thanks. the

Charles Levingston

market so this to unfortunately although. had Sure our banks bit thing, are is in fairly the little have That's a where stiff of in other Catherine, in rates other Charles. market folks learned here markets, the that the happened to we've shown talking competition here deposit softening around country, something weeks. loaned all The up, tends in our recent in remain

starting are rates stubborn soften those of some to up. Again,

market to looks do to good rates decrease as already our pretty money this a So end probability rate is and we the month. we'll changes and so my we expectation have another actually for that at will of made continue

think I an XX%. it's about

would some be cost going I the funding forward in in terms there term. So near expect savings to of

Catherine Mealor

So your now money X.XX. you say money and today? are savings market Where market or right of they would

Charles Levingston

bit. X%, over change it point money notion below that often fall market top We this tends hear little and you are once tier rates X% a accounts that just on about landscape this the at to

right So, where top-tier. yes, that's our in we are

Catherine Mealor

So X% that? right Okay, in I'm sorry, -- at

Charles Levingston

Just above…

Catherine Mealor

more Say time. that one

Charles Levingston

Just above X%.

Catherine Mealor

X%. above Just

Okay, great.

down feel deposit don't have directionally, costs LIBOR commensurate quite so as do like but loan mean still yields decrease get NIM we more pushes we a I we think mean, quarter, So, in as yet. next I still about -- you compression

Just the of thinking you margin here? goes where about how kind directionally, from

Charles Levingston

would not position feel surprised today, would with pretty We near -- second I between played which role. is to to compression Yes, the not additional the Sure. see it be comfortable we I dramatic expect certainly liquidity as quarter. We do be third some in as the a them term. our in saw and where margin however,

we weighted We over those will do be so we CDs about average XX-month put year, on have that we average re-pricing the and -- CDs that weighted be a last a will life on have re-pricing. basis those

have as our re-pricing those down deposits and we -- been rates continue about, rates money brought that talked We market also to have as drop.

floors We loans. on also our have

the of other So a we the side on balance do sheet, have of protection. little bit

another the decreases rate move much think there XX year, is of XXXX. down of move benefit will at see those of I we'll basis we if another and some point spilling the floors, the at pretty end and into be yet the the sitting

my little expectation bit bit 'XX. point, a But color I to the but surprised compression to So stabilization yes, bit little -- little around into wouldn't going see your expect for be I some a that's more of would margin. a

Catherine Mealor

Great.

you slower pace next seems Okay. like highly of now you you're think growth I'm -- growth transitioning more than And with company kind about you how but profitable, comment matured fair a to be historically. have do for loan made year? that a It

level of economic appropriate as of what given size? your feel you So and the this like growth part cycle do

Susan Riel

Catherine, a we are growth still projecting rate. single-digit high

that we at. comfortable So will think be we

Catherine Mealor

bit where you growth the a can will your where types focus that And from? and on you're come within in pulling terms most high-single of little digit, loan of talk back about

Susan Riel

on I would construction say, we're selective being loans. far more

with So out have more far being cautious also. but we construction we're we're than not the lending of selective restaurants hospitality, and been; being business, we're very

Operator

our O'Neill. of you. Casey the Whitman question next line from Thank from Sandler And comes

may You begin.

Casey Whitman

last ticked the over quarters. First, I the just two tax that's rate, up wanted to on ask

rate relief? a or forward we could use is XX% So, going to good some see

Charles Levingston

remain area retirement will expenses of I of expenses the area. I quarter, it of would But that. normalize expect those lack deductibility lot with around XX% fourth you those going back Ron's and Yes, know, and be rate around the that lost to same into forward XXXX beyond a associated will think I going the think, relatively in tax the

Casey Whitman

about give has for guess kind line expenses, or idea several what to of attrition last just do of gone sense exclude able wanted you been some one-time talent attrition so to the this just pretty noise? look how costs, the I a outside the to, you thinking Just there. has months of nice had and a I lenders of all and an keep you the benefits also the get at quarter, over attribute I your decline how mean, gone? then if salary maybe I some have that us talent through just relief

Susan Riel

We have a business people we're turnover. unfortunately is turnover in and that had good. turnover. there I on mean, people always there where looking are that at leave, sometimes We're is bringing

attracted have We some people. good

a lending on teams we're build team have and continuing to strong areas both in the support the that. We and

to also. critical some fill looking positions we are good high level area leads in We some management senior that have and

Charles Levingston

Casey, incentive being of here end, which of kind That's year end based terms the some end today. leads to it. the of see the the financials you are year, in towards getting on accruals for cost, trued up our of we're the we that production making of the are and expectation result of that towards those part in the

Casey Whitman

a efficiency as I incur holding you should related you elevated pick guess, up you efficiency can Got $XX the or bigger this I bit? you can do XX% or a you it. is costs the to kind guess, that little I continued think some Or mean, picture, referenced? guys with keep maybe ratio IT ratio expenses other over of going billion below low keep

Susan Riel

still bit, pick that a it or at Casey, may we'll below. think, little We be but XX% up

going period $XX the cost a over over mark of have years. spread the We of billion

did add we some last more year, year. have this next So did will some we we year, some,

one been the in at not have time. we and So hit that taking prudent all

expect do be the still XX% ratio that we at will So a efficiency lower. or

Charles Levingston

this in going mind, we those of at bring expenses. keep use hope in we these some point different to forward of saddled also with And are terms legal additional that a to expenses

the adding So infrastructure, -- apparatus. that in management growing risk towards billion, terms, out our again, adding growing people, $XX

is the it So, Susan or agree expectation. yes, I XX% would below with

Casey Whitman

of else to bit a just color was little Okay, hop that non-accrual, on great. us on. was question one on brought more that it Jan, or just ask loan long How I'll non-performing any the location, Maybe, give let current. loan color you one would what kind type and be that can somebody of was helpful?

Janice Williams

in documentation prime -- loan on address one had didn't The and was XXth. in location wasn't and promptly matured was Avenue It Casey. after Wisconsin until that Sure, come the addressed. funding the

non-accrual, on never XX. XX over but was at it was it September So days

value So we really in the a XX% to XX-day It's category. terrific a It's included property. location. loan over

quarter. concerns end credit a and stand have don't from able of cleared weren't point. the I get We So to it the by just re-documented

Operator

of Thank you. comes the the And Montgomery. from from question line next Christopher Janney Marinac

You may begin.

Christopher Marinac

Jan, the we last to lines on same be going of fund morning. criticized? those saw quarter follow the trends Are directionally to I and What's you. saw kind what good we with along Thanks, new in to what just similar X/XX? classified want they the continue NPAs at do and

Janice Williams

shift, is but tremendous amount of be not a bit. a There is to there going

good $XX.X number You loans a loan loans in included non-performing recall of you of we're this that that have category. shape. or number result it also automatically We're were us. that that those million goes as XX being which The a one level, Todd about a there we are that that with in -- a so customers it's receivership you're that days in still may But Hitt any our quarter. projects Hitt, of see carried substandard had through transaction, that might read downgrading over in were sub-standard had becomes a of time

about and the criticized risk $XX down classified portfolio The the I'm average -- last million about a terms make a It's in sorry, is. don't our ton in difference migration X%. the of X% rate, -- rating about we down have in the average million at loan one risk range grown down from classified of $XX given what big has by quarter. roughly criticized and in is portfolio time, any Typically, can but it's

through it be moving So out we of going these. a to progress back as of there lot is

Christopher Marinac

sounds it you've Got net-net, So you. But materially. some not it's some got incoming like and outgoing.

for you mean, this Thank Charles that. tick quarter I and loan the have success you, that just down; great. liquidity because of better because incrementally And obviously is QX? in ratio the does the sort quickly just sort then does wholesale get Okay, for deposit just dependency growth of that. get of just to appreciate ratio the deposit I you better

Charles Levingston

Yes.

think deposits see the the measure I you'll being a as that. to core of core there. think, had deposits relief, we We bit our little bit did -- included see I now reduction we as of of as generally, a a regulatory result little reciprocal improvement

So, yes, that's view. I think the right

Christopher Marinac

And environment? as of with just a the on prepayments of they rates turnover low? then you're sort this customers.. Just the helps wanting you your you help it refinance of structurally or great. more with up work way in question, of the kind how does go do generally if type customers set that Okay, create typical Do to last curious

Susan Riel

the we think the at is apple have through either looking or a if customer rate first I modification. decreased generally their refinance bite get to

the stabilization through and relationship. where the situation us, at when with are and There full going times a agency; are are looking that's look and construction say, and whenever take they So we pricing ultimately particular have on retain the our that our market a try to and we if deal, risk-based return parkable, and the at it's policy, may some realistic rollover. customer customer customers

the the portfolio have to of carry rate the the penalties. those longer income on one add I benefits And is loans rapid prepayment more that churn portfolio construction side. you've past, we stabilization in producing period; think in a seen of at most a do that in the

customers if we those can as our relationships, pricing. We not our the competitive tend retain either. we're be on on on So to vulnerable based

Operator

from Research. next our comes Comery from Steven question And the of line G.

may You begin.

Steven Comery

lot of just is growth it were up you wins there was anything or different Was this differently from strong we've seen you quarter? market guys in guys, tick Deposit of kind quarter doing this for what was quarters. past the a or a big came really Hey.

Charles Levingston

moving as market could Yes. of with certainly continual in have played little to a customers. late that element some our it of well. movement. I are that a cycle attribute a cash -- into perhaps development about and there There's play certainly a role getting Folks skittish relationships more

Steven Comery

that. in I the on for volumes was think, other that really more there thanks like sell loan was mortgage then other this quarter there going that were anything than guys tick-up sales. anything there? you higher, there thing was Was And Okay, there taking or share; was so positive, to the there else were

Charles Levingston

no. No,

simply I up. think that it down was were treasury; of tracking and rates are XX-year volumes product with a

quarter. did that we see yes, from So, some benefit this

Operator

Thank you. And our from next question of Scattergood. from comes Boenning & the line Erik Zwick

begin. line Erik, your be may on may You mute.

Erik Zwick

Board any initiatives more in with Board the of are three this today? add With year, then departure regard what second, are members, or the the additional to the top questions, plans to and the mind changes there reorganization any recently near-term and Boardroom of members; two priorities I first, guess,

Susan Riel

new We that fill the us in members some to will are we always gaps looking Board help Board. on skill might and need the sets for the that of

we're candidate -- candidate I many how point very too XX told mean, the offer this an We a goal expecting distance. always that in short to to many at we don't strong have XX; a make directors We on would a directors. we've were have. have been

So have don't numbers. a for we goal

good will get move opportunity the a up that. make we comes to director, when qualified on a Just

Erik Zwick

the to of priorities terms voice at a their in any I that mean, Board looking opportunity Board today? maybe more gets everyone, any changes now, preferences, is kind then guess, guess, I or bit smaller initiatives And with I little guess, being Okay. or I the of, adaptations to

Susan Riel

outspoken No. always directors. would I say, we've had

were and they always we XX, had though even involved So with Bank. involved outspoken the very and

don't problems any have of we no, any with that. So,

of and with that organization trying set and as expectations the to move with better the a the just right are regulators skill shareholders build We we can larger the into Board our meet Board.

Erik Zwick

new Maybe hire? potential with one you that does for mature, set of just and just Company as kind the skill become follow a or Board look a up change grow number more there,

Susan Riel

committee, recommended, brought but totally, at we're is that And that mark, of Theresa we risk the there adding risk billion one on, up LaPlaca, $XX something move like, members Not past that is recently now, committee. as Board a looking the are required. we which some that will head not

opportunity that bring giving us. things So is are -- to that getting do people for to like us a key on objective the qualified

Operator

this I'm would Riel Thank the over turn you. further any time. not further showing remarks. back to any questions call for to closing at And like Susan I

Susan Riel

being at here want to thank and today to to Okay, the talking you everyone for next quarter. again I forward attending look and

Operator

call. Ladies concludes you today's conference and Thank participating. gentlemen, this for

disconnect. You may now

Eagle Bancorp (EGBN) 17 Oct 192019 Q3 Earnings call transcript