1 unchanged sentence
Market for Common Stock.
−Removed: The Company’s common stock is listed for trading on the Nasdaq Capital Market under the symbol “EGBN.” Over the twelve month period ended December 31, 2021, the average daily trading volume amounted to approximately 126,207 shares, a decrease from approximately 166,811 shares over the twelve month period ended December 31, 2020.
+Added: The Company’s common stock is listed for trading on the Nasdaq Capital Market under the symbol “EGBN.” Over the twelve month period ended December 31, 2022, the average daily trading volume amounted to approximately 167,619 shares, an increase from approximately 126,207 shares over the twelve month period ended December 31, 2021.
No assurance can be given that a more active trading market will develop or can be maintained.
12 unchanged sentences
At December 31, 2022 the Bank could pay dividends to the Company to the extent of its earnings so long as it maintained required capital ratios.
−Removed: The Federal Reserve Board has established requirements with respect to the maintenance of appropriate levels of capital by registered bank holding companies.
+Added: The FRB has established requirements with respect to the maintenance of appropriate levels of capital by registered bank holding companies.
Compliance with such standards, as presently in effect, or as they may be amended from time to time, could possibly limit the amount of dividends that the Company may pay in the future.
−Removed: In 1985, the Federal Reserve Board issued a policy statement on the payment of cash dividends by bank holding companies.
−Removed: In the statement, the Federal Reserve Board expressed its view that a holding company experiencing earnings weaknesses should not pay cash dividends exceeding its net income, or which could only be funded in ways that weaken the holding company’s financial health, such as by borrowing.
+Added: In 1985, the FRB issued a policy statement on the payment of cash dividends by bank holding companies.
+Added: In the statement, the FRB expressed its view that a holding company experiencing earnings weaknesses should not pay cash dividends exceeding its net income or which could only be funded in ways that weaken the holding company’s financial health, such as by borrowing.
As a depository institution, the deposits of which are insured by the FDIC, the Bank may not pay dividends or distribute any of its capital assets while it remains in default on any assessment due the FDIC.
12 unchanged sentences
January 1, 2022 — n/a n/a 1,600,000
−Removed: February 1 - 28, 2021 1,466 $42.49 1,466 1,587,382
−Removed: September 1 - 30, 2021 11,609 $52.94 11,609 1,575,773
+Added: October 1 - 31, 2022
+Added: 117,700 $44.47 117,700 1,482,300
+Added: November 1 - 30, 2022
+Added: 228,000 $45.98 228,000 1,254,300
December 1-31, 2022
+Added: 392,600 $44.24 392,600 861,700
Total 738,300 $44.82 738,300 861,700
−Removed: (1) On December 16, 2020, the Company's Board of Directors authorized a new share repurchase program to take effect starting January 1, 2021, after the expiration of the previous repurchase program on December 31, 2020.
−Removed: The Board of Directors authorized the repurchase of 1,588,848 shares of common stock, or approximately 5% of the Company's outstanding shares of common stock, under this repurchase program, which expired on December 31, 2021.
(1) On December 28, 2021, the Company's Board of Directors authorized a new share repurchase program (the "2022 Repurchase Program") to take effect starting January 1, 2022, after the expiration of the previous repurchase program on December 31, 2021.
−Removed: The Board of Directors authorized the repurchase of 1,600,000 shares of common stock, or approximately 5% of the Company's outstanding shares of common stock, under 2022 Repurchase Program, which will expire on December 31, 2022, subject to earlier termination of the program by the Board of Directors.
+Added: The Board of Directors authorized the repurchase of 1,600,000 shares of common stock, or approximately 5% of the Company's outstanding shares of common stock, under the 2022 Repurchase Program, which expired on December 31, 2022.
+Added: (2) On December 13, 2022, the Company's Board of Directors authorized a new share repurchase program (the "2023 Repurchase Program") to take effect starting January 2, 2023, after the expiration of the previous repurchase program on December 31, 2022.
+Added: The Board of Directors authorized the repurchase of 1,600,000 shares of common stock, or approximately 5% of the Company's outstanding shares of common stock, under the 2023 Repurchase Program, which will expire on December 31, 2023, subject to earlier termination of the program by the Board of Directors.
(3) Inclusive of shares remaining available for purchase under the 2022 Repurchase Program.
4 unchanged sentences
The following table compares the cumulative total return on a hypothetical investment of $100 in the Company’s common stock from December 31, 2017 through December 31, 2022, with the hypothetical cumulative total return on the Nasdaq Stock Market Index (U.S.
−Removed: Companies) and the KBW Regional Banking Index for the comparable period, including reinvestment of dividends.
+Added: Companies), S&P 500 Index and the KBW Regional Banking Index for the comparable period, including reinvestment of dividends.
The KBW Regional Banking Index seeks to reflect the performance of publicly traded companies that do business as regional banks or thrifts listed on all U.S.
6 unchanged sentences
Nasdaq Composite Index 100.00 97.16 132.81 192.47 235.15 158.65
+Added: S&P 500 Index 100.00 95.62 125.72 148.85 191.58 156.88
KBW Nasdaq Regional Banking Index 100.00 82.50 102.15 93.25 127.42 118.59
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.