Nov. 8 at 7:43 PM
$EGBN It’s cooked. Board chair elects not to run. Replacement chair - the current CEO - presides over continued erosion of CRE loan quality. Her son heads up CRE lending…Announces her slow rolled “retirement” while they move to new HQ space from Class C building owned by original CEO. New directors are non-local compliance oriented types. Head credit exec resigns. This would seem to be clear signals that the bank is actively being sold before the place burns down. A new to the market buyer will get it at a significant discount and establish a
$10B foothold in the DMV. They aren’t buying any green bananas at Eagle.
