Eagle Bancorp selects veteran banker as permanent CEO

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Eagle Bancorp in Bethesda, Md., removed any speculation about interim CEO Susan Riel’s job title.

The $8.4 billion-asset company said in a Monday press release that Reil, 69, had become its permanent president CEO. Riel, who helped found Eagle in 1998, had been the bank's chief operating officer. She joined Eagle's board in 2017.

Riel succeeded Ron Paul, who retired on March 21 for health reasons. Paul was one of American Banker's Community Bankers of the Year in 2012.

One of Riel's biggest jobs will involve guiding Eagle’s growth as it nears the $10 billion in assets. The company, in a recent investor presentation, said it was focused on enhancing its infrastructure as it prepares for the regulatory threshold.

The company reported last month that its first-quarter profit fell 6% from a year earlier, to $33.7 million. The results included $6.2 million in retirement-related payments to Paul.

"After thoughtful evaluation and consideration, the board ... determined there is no better qualified individual to serve as Eagle’s president & CEO," Chairman Norman Pozez said in the release. The board is "confident that Susan is the right person to continue to drive Eagle’s growth strategies and enhance shareholder value.”

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