Eagle Bancorp in Bethesda, Md., has issued $150 million in subordinated debt after increasing the amount it originally planned to sell.
The $6.1 billion-asset company said in a press release Friday that greater demand for its fixed-to-floating subordinated notes prompted the increase from $75 million. The notes will mature in August 2026.
Eagle said it plans to use the proceeds for general corporate purposes that include contributing capital for growth at its bank.
Sandler O'Neill was the book-running manager; Keefe, Bruyette & Woods was the co-manager.