Q: What were the biggest challenges for the bank this past year?
A: Amid the convergence of the health and economic crises over the last year, EagleBank proactively and successfully recognized the emergent situation faced by so many clients. We pulled together as never before to provide the professional support and hands-on guidance for which we are known. We estimate that we were successful in processing over 1,330 PPP loan applications—equating to over $491 million—which saved around 41,000 jobs in the metro area.
When the devastating pandemic dispersed our workforce, we seamlessly transitioned over 400+ employees to work remotely. Thankfully, we had established tools and necessary infrastructure to quickly and securely engage employees and clients.
The EagleBank Foundation also took a leading role in supporting our community, including distributing $100,000 to 10 local area organizations fighting COVID 19—notably hospitals, food banks and first responder aid philanthropies—to secure PPE, hospital in-room technology for healthcare staff and meals for families in the Washington area. In addition to the efforts from the EagleBank Foundation, the Bank allocated $50,000 in emergency aid to George Mason University students displaced by the COVID-19 crisis.
Q: What piece of advice do you most frequently get asked and what’s your answer?
A: In recent months, many commercial clients asked us how they’ll be able to move forward amid these unprecedented and challenging times. Our answer is simple—EagleBank remains dedicated to our distinct and long-standing customer-first culture. Even a global pandemic does not change how we approach working with clients and supporting our local community. We’re a true partner who provides flexible lending solutions and approaches all challenges with a “yes we can” attitude.