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Maryland-based Eagle Bancorp launches 1st share buyback program

Bethesda, Md.-based Eagle Bancorp Inc.'s board adopted its first share repurchase program.

The company plans to buy back up to 1,715,547 common shares or about 5% of its 34,539,853 outstanding common shares as of June 30.

The repurchase program will expire Dec. 31, subject to earlier termination of the program by the company's board of directors.

Under the plan, the company may repurchase the shares in the open market, block trades or privately negotiated transactions.