LegalJun 30, 2026, 04:07 PM
Eagle Bancorp Subsidiary Settles Investigation for $9.8M
AI Summary
Eagle Bancorp announced that its subsidiary, EagleBank, has reached a settlement with the U.S. Attorney’s Office for the Middle District of Pennsylvania. The settlement resolves an investigation into the Bank's anti-money laundering controls and its relationship with a former customer. As part of the agreement, EagleBank will enter into a one-year non-prosecution agreement with the Department of Justice and pay approximately $9.8 million, which was fully accrued in the Company's 2025 financial statements.
Key Highlights
- EagleBank settled an investigation by the U.S. Attorney’s Office for the Middle District of Pennsylvania.
- The investigation concerned anti-money laundering controls and a former customer.
- EagleBank entered into a one-year non-prosecution agreement with the Department of Justice.
- The Bank will pay approximately $9.8 million as part of the settlement.
- The $9.8 million payment was fully accrued in the Company's 2025 audited financial statements.
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