BETHESDA, Md., Sept. 10, 2009 (GLOBE NEWSWIRE) -- EagleBank today announced the promotion of Susan G. Riel to Senior Executive Vice President and Chief Operating Officer. Ms. Riel joined the Company in March of 1997 as Senior Vice President and Senior Operations Officer, and was promoted to Executive Vice President and Chief Operating Officer in 2006.
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Chairman and Chief Executive Officer Ronald D. Paul stated, "We are very pleased to announce the promotion of Susan Riel to Senior Executive Vice President and Chief Operating Officer. Susan is an integral part of the management team and her dedication and knowledge have been instrumental in the Company's growth and success. Through her vision and ability to identify critical issues, she has demonstrated tremendous leadership and commitment to our organization. I'm extremely proud of all that she has accomplished and the meaningful impact that she has had on the lives of all of us here at the bank -- not just our employees, but also our clients and shareholders."
In addition to Ms. Riel's promotion, and in light of the company's tremendous growth, the Board of Directors of EagleBank also approved the reorganization of the senior management structure. EagleBank has a strong succession planning program and this reorganization will help the company continue its corporate focus on operational and financial excellence, while guaranteeing that its leadership is poised appropriately to meet the opportunities that are ahead. This move to re-align the company's senior management reporting structure will also streamline the decision-making process.
Ms. Riel will report directly to the Chairman and CEO, Ronald Paul. She will be responsible for all the day-to-day functions of the overall bank and will continue to carry on her duties as Chief Operating Officer of EagleBank. The current duties and responsibilities for the other members of senior management will continue, but with the exception that they will now report to Ms. Riel as it relates to all day-to-day operations, administrative and personnel issues.
"This re-alignment strengthens EagleBank's senior management team and greatly adds to our capacity to implement our growth strategy," said Mr. Paul. "I am confident we have the best team in place to not only weather the current business environment but to emerge from it more competitive and with improved operating margins and earnings."
ABOUT EAGLE BANCORP, INC. AND EAGLEBANK
Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and conducts full service banking services through thirteen offices, located in Montgomery County, Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace.
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