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Note 2 - Business Combinations
 9 Months Ended
Sep. 30, 2014
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]

Note 2.   Business Combinations


On June 9, 2014, Eagle Bancorp, Inc. and its wholly owned subsidiary bank, EagleBank, entered into an Agreement and Plan of Reorganization (the “Agreement”) with Virginia Heritage Bank (“VHB”), pursuant to which VHB will be merged with and into EagleBank, with EagleBank surviving the merger (the “Merger”).


The merger received all required regulatory approvals and was completed on October 31, 2014.


At the effective time of the Merger, each outstanding share of VHB common stock will be converted into 0.6632 shares of Company common stock and $7.50 in cash. The number of shares of Company common stock to be issued is 4,010,261 and the amount of cash paid is $45,356,539.


The Company also assumed the 15,300 shares of VHB’s preferred stock which has an aggregate liquidation preference of $15.3 million and was issued in connection with the U.S. Treasury’s Small Business Lending Fund Program.


The Company assumed the VHB stock plans. Options to purchase 448,895 shares of VHB common stock at a weighted average exercise price of $11.77 per share will be “rolled over” into options to acquire 401,497 shares of Company common stock at a weighted average exercise price of $13.17 per share.