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Eagle Bancorp purchasing Virginia Heritage Bank in cash-and-stock deal

Jun 10, 2014 - SNL Financial
Mergers and Acquisitions

Bethesda, Md.-based Eagle Bancorp Inc. ($3.80 billion) has agreed to acquire Vienna, Va.-based Virginia Heritage Bank ($917.4 million), according to a June 9 news release.

The cash-and-stock deal - currently valued at approximately $182.9 million (excluding the value of Virginia Heritage's preferred stock), similar to the deal value calculated by SNL - will see Virginia Heritage merge into Eagle Bancorp subsidiary EagleBank. The merger will boost Eagle Bancorp's footprint in the Northern V...