Eagle Bancorp in Bethesda, Md., recorded a large quarterly loss after taking a goodwill impairment charge.
The $11.3 billion-asset company said in a press release that it lost $83.8 million in the second quarter. The $104.2 million impairment came after Eagle conducted its annual impairment test and reflected “current economic conditions.”
Separately, the company said it had created an expatriate banking service division as part of a broader plan to diversify its deposits and reduce its use of wholesale funding.