News

EagleBank closing Alexandria branch in March

By James Cullum
EagleBank is closing its Old Town branch at 277 S. Washington Street on March 3, 2022 (via Google Maps)

After 10 years, EagleBank is closing its Alexandria branch on Friday, March 3.

The EagleBank branch at the Atrium building (277 S. Washington Street) will then transfer all its accounts to its Ballston Branch (4420 N. Fairfax Drive).

Customers received the news in a Dec. 27 letter from Conchita Lumpkins, EagleBank’s director of community banking.

“It has been an honor and pleasure to serve your banking needs at this location for many years,” Lumpkins wrote. “We look forward to continuing to serve you at the Ballston location or any of our branch offices.”

EagleBank CEO Susan Riel told the Washington Business Journal in November that the company faces staffing issues, real estate lending challenges and rising interest rates.

Last year, EagleBank and its former CEO Ronald D. Paul were fined millions for violating insider lending regulations, and Paul was banned from banking.

The Old Town branch opened in 2013. No official reason for the closure was provided. The bank, which lists 25 branches on its website, reportedly closed two other locations in 2022.

About the Author

  • Reporter James Cullum has spent nearly 20 years covering Northern Virginia. He began working with ALXnow in 2020, and has covered every story under the sun for the publication, from investigative stories to features and photo galleries. His work includes coverage of national and international situations, as well as from the White House, Capitol, Pentagon, Supreme Court and State Department. He's covered protests and riots throughout the U.S. (including the Jan. 6 riot at the U.S. Capitol), in addition to earthquake-ridden Haiti, Western Sahara in North Africa and war-torn South Sudan. He has photographed presidents and other world leaders, celebrities and famous musicians, and excels under pressure.