Some News on Eagle and Jack Evans

When shares of Eagle Bank (EGBN) got slammed a few months ago, there was a lot of speculation and there were very few facts. It was assumed that this was all tied to the political scandal of Jack Evans, a local DC city council member.

Now, a confidential report has come out detailing the shady business dealings of Evans. The Washington Post said that Ron Paul, Eagle’s former CEO, is mentioned in the report. Paul declined to comment due to health issues.

The allegations appear to be pretty shady stuff but nothing that should impact the performance of the bank, outside of legal fees. Paul is no longer with Eagle and the bank has moved on.

Susan Riel is the new CEO and this is all she had to say about the mess:

“What we are told is that it may never get resolved. It may just go away and we might not get closure to it. We’ve talked to many people. We are working with a number of attorneys on it, and they have all the experience in the world — and that’s where we are,” Riel said. “We don’t know the answer to that question. I don’t think the government agencies know the answer to that question.”

Posted by on November 11th, 2019 at 4:22 pm


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