A Maryland-based bank and bank holding company agreed to pay nearly $23 million in penalties for improperly loaning approximately $90 million to family trusts controlled by its former chief executive officer over three years, then misleading investors about the loans.
Eagle Bancorp, parent company of EagleBank, was fined $9.5 million by the Federal Reserve Board on Tuesday for violating the board’s insider lending regulation. The bank agreed to pay an additional $13.4 million to settle charges laid by Securities and Exchange Commission (SEC).
