NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (“KBRA”) has assigned senior unsecured debt, subordinated, and short term ratings of BBB, BBB-, and K3, to Eagle Bancorp, Inc. (NASDAQ: EGBN), a bank holding company based in Bethesda, MD. KBRA has also assigned unsecured senior debt/deposit, and short-term debt ratings of BBB+ and K2, respectively, for EagleBank, the primary bank subsidiary of Eagle Bancorp. The outlook on all ratings is stable.
The ratings are supported by EagleBank’s strong financial fundamentals as indicated by sound liquidity and asset quality, strong and improving earnings, and strong efficiency as well as solid historical operating performance. The ratings are balanced against concerns about the institution’s focus on business lending, small geographic footprint, and potential risks stemming from its funding structure. The rating is also balanced against the lack of potential systemic support at the holding company level by the Federal Reserve System and other regulators due to the enactment of the Dodd-Frank Act in 2010.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on May 2, 2013.
About Kroll Bond Rating Agency
KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).