Building up the businesses and nonprofit organizations that build up the whole community—that’s what “community bank” really means. With millions of Americans currently struggling with job losses, business closures, and health concerns simultaneously, one community bank helped the greater Washington, DC, area manage this crisis.
To everyone at EagleBank, the term “community bank” is much more than a regulatory classification. For more than twenty years now, EagleBank has succeeded by helping start-ups and well-established businesses of all sizes across Maryland, DC, and Northern Virginia—growing into one of the area’s largest and strongest community banks. EagleBank supports the community in two key ways: by building relationships with their customers and by giving back to local organizations.
At EagleBank, helping businesses succeed stems from the belief in the power of relationships. The challenges posed by governmental measures in response to the 2020 pandemic have served as a reminder to business owners of the value of having a strong relationship with local banking experts.
In March, Mayor Muriel Bowser ordered that DC restaurants could only offer takeout, not dine-in service, taking a toll on business models overnight. Beloved local coffee chain Compass Coffee stepped up to produce hand sanitizer, and turned to EagleBank to help weather the financial crisis. “Many people say that they care about relationships, but EagleBank truly means it and backs it up with actions,” says Michael Haft of Compass Coffee.
Another EagleBank customer, Borzou K. Biabani of The Biabani Group, Express One Logistics, and affiliated companies, expressed similar feelings: “On behalf of our hundreds of employees, I would like to say a sincere thank-you to the staff at EagleBank from a loyal client for life.” Or, in the words of Susan Lacz of Ridgewells Catering, “Thank you so much, EagleBank, for being a good banking partner.”
Helping local businesses get through tough times and thrive in better times is one way community banks like EagleBank serve their community. But there is another way: direct monetary support for necessary causes.
In response to urgent needs during the COVID-19 crisis, the EagleBank Foundation provided funds to a number of area hospitals, as well as World Central Kitchen, the Capital Area Food Bank, Shepherd’s Table, and the First Responders Children’s Foundation. This is a recent and dramatic example of the Foundation’s ongoing support for efforts that contribute to the health and well-being of people throughout the community.
In prosperous times, a community bank can boost new development and growth. And in crisis, it can help people rebuild and move forward.
EagleBank, Member FDIC