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EagleBank discloses ongoing government investigations as legal spending jumps

Andy Medici
EagleBank discloses ongoing government investigations as legal spending jumps

Eagle Bancorp Inc. (NASDAQ: EGBN), the parent company of Bethesda-based EagleBank, saw its spending on legal fees jump in the second quarter as it dealt with “investigations and related document requests and subpoenas from government agencies,” according to the company's quarterly earnings report. CEO Susan Riel, who took over from founder and former CEO Ron Paul after he stepped down for health reasons in March, declined to provide additional details on the ongoing investigations in the company's quarterly earnings conference call with analysts on Thursday, including questions on whether the investigations were related and when they began.