accounting icon twitter icon close-x icon facebook icon government icon healthcare icon in icon menu icon non-profit icon phone icon professional icon small-business icon triangle icon

Another new test notification.

Mergers & Acquisitions

Email page PDF view Print view Email Alert Social media sharing

Return to Mergers & Acquisitions

Deal Overview

Eagle Bancorp, Inc.
Actual Acquirer:
Virginia Heritage Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Cash ($M) 45.3
Common Stock ($M) 141.6
Common Stock Issued 4,010,261

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 205.6 211.6
Price / Tangible Book (%) 205.6 211.6
Price / Earnings (x) 18.1 22.3
Price / Deposits (%) 24.90 26.41
Price / Assets (%) 20.00 20.61
Tangible Book Premium/ Deposits (%) 21.16 21.91
Deal Terms
Description of Consideration

Eagle Bancorp Inc. has exchanged 0.6632 shares of its common stock and paid $7.50 in cash for each of the outstanding share of Virginia Heritage Bank. Eagle Bancorp Inc. also assumed the $15.3 million of preferred shares issued in connection with the U.S. Treasury's Small Business Lending Fund Program. Exchange ratio was subject to adjustment based on Eagle Bancorp Inc.’s closing price within a $29.0-35.5 cap/floor.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 102,262
Estimated Cost Savings (%) 35.00
Estimated Cost Savings ($ 000) 8,203
Est. Restructuring Charges ($ 000) 9,146
Maximum Termination Fee ($ 000) 7,250
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 0.663200
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 4,550
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Houlihan Lokey Inc.
Seller Yes Sandler O'Neill & Partners LP
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Buckley LLP
Seller Yes Holland & Knight LLP