September 24, 2009 (FinancialWire) — Eagle Bancorp, Inc.  (NASDAQ: EGBN), the parent company of EagleBank, announced that it had closed the sale by the company of 6,731,640 shares of its common stock at $8.20 per share, including 878,040 shares subject to the underwriter’s over-allotment option.

The shares were sold in a firm commitment offering underwritten by Sandler O’Neill + Partners, L.P. The company received net proceeds from the offering of approximately $51.8 million, after underwriting discounts and commissions and estimated expenses.

The company expects to use the net proceeds from this offering for general corporate purposes, which may include, among other uses, support for organic growth and potential acquisitions, and repayment of debt.

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