PNB News

News and Press

Eagle National Bancorp Reports Record 2nd Quarter Earnings

July 22, 2008

Eagle National Bancorp, the holding company for Eagle National Bank and Physicians National Bank, announced second quarter earnings of $422,000, the highest quarterly operating earnings since the bank was acquired in 2003.

The bank was acquired by an investor group led by William H. Bromley, the company’s CEO. Mr. Bromley noted that “despite the huge credit problems facing the nation’s banks and financial institutions, Eagle National Bank is making progress in establishing a profitable operation based on solid credit quality and a unique mortgage business. We have done so in difficult times and with a bit of a contrarian strategy. We entered the mortgage banking business when many were exiting due to a collapsing housing market and the most difficult credit crisis the country has experienced in decades. Now, that business is contributing significantly to our overall profits and its prospects for the future seem solid.”

See all news