Eagle Bancorp Inc. in Bethesda, Md., has agreed to acquire Alliance Bankshares Corp. in Chantilly, Va.
Eagle, with $2.35 billion in assets, will exchange about 0.43 shares of its stock for each Alliance share, pricing the acquisition at about $31.2 million. Alliance has six branches and $536 million in assets.
The acquisition is expected to close in the fourth quarter. Eagle said in a press release that the purchase should add to its earnings within 12 months.
Earlier this month, Eagle said it had received preliminary approval to receive $56 million from the Treasury Department's Small Business Lending Fund.
