Pete Mathews
EAGLE BANCORPAbout Pete Mathews
Louis P. “Pete” Mathews Jr. (age 68) joined Eagle Bancorp’s Board in July 2024 as an independent director; he is a retired Senior Executive Vice President of M&T Bank with over 45 years in commercial and commercial real estate credit, including service as Senior Deputy Credit Officer and prior leadership of M&T’s Mid-Atlantic CRE unit and Senior Real Estate Credit Officer role starting in 2005 . He holds a B.A. in American History from Princeton University and brings deep credit risk, underwriting, and asset quality oversight experience to EGBN’s boardroom .
Past Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| M&T Bank | Senior Deputy Credit Officer overseeing Commercial and CRE credit teams | Through retirement in 2022 | Led credit risk oversight supporting commercial lending and CRE segments |
| M&T Bank | Deputy Credit Officer in charge of Commercial Real Estate Credit | Prior to 2022 | Directed CRE credit policies and portfolio risk |
| M&T Bank | Senior Real Estate Credit Officer | Became SR ECO in 2005 | Senior leadership over real estate credit risk |
| M&T Bank (Mid-Atlantic CRE unit) | Head, Mid-Atlantic CRE unit | Until 2005 | Ran regional CRE lending operations |
| First National Bank of Maryland / Allfirst Bank | Head, Commercial Real Estate Division at time of merger with M&T (2003); earlier Retail Branch Management Program; RM/Team Leader roles | 45+ years career; leadership at 2003 merger | CRE division leadership; long-standing commercial credit roles |
External Roles
| Organization | Role | Tenure | Focus/Impact |
|---|---|---|---|
| Catholic Charities of Baltimore | Board Member | Current | Non-profit governance |
| Healthy Neighborhoods, Inc. | Board Chair | Current | Community development and neighborhood revitalization |
| Business Volunteers Maryland | Treasurer; former Board Governance Chair (retired after 20+ years) | Retired | Long-term volunteer governance leadership |
Board Governance
| Attribute | Details |
|---|---|
| Independence | Board determined Mathews is independent under Nasdaq and federal securities laws |
| Director Since | 2024 |
| Current Committee Memberships (Company/Bank) | Asset Quality Subcommittee of the Risk Committee / Asset Quality |
| Prospective Committee Memberships (as of Mar 18, 2025 recommendation) | Governance & Nominating (Chair), Risk, and Asset Quality |
| Board & Committee Attendance (2024) | Board met 15 times; all directors attended at least 75% of Board and committee meetings during 2024 or portion thereof |
| Board leadership context | Lead Independent Director role, risk oversight across Audit, Compensation, Governance & Nominating, Risk, Technology committees |
Fixed Compensation
| Component | Amount/Terms | 2024 Actual (Mathews) |
|---|---|---|
| Annual Cash Retainer – Company & Bank | $45,000 per year | $0 (fees for second half of 2024 to be paid in 2025: $22,500) |
| Annual Committee Chair Retainers | Audit $50,000; Compensation $45,000; Governance & Nominating $25,000; Technology Oversight $25,000; Risk $45,000 | Not applicable for 2024 (no chair role in 2024) |
| Lead Independent Director Retainer | $65,000 per year | Not applicable |
Notes:
- Mathews was appointed July 26, 2024; his 2024 fees were scheduled to be paid in 2025 in the amount of $22,500 .
Performance Compensation
| Program Element | Terms | 2024 Grant (Mathews) |
|---|---|---|
| Annual Director Equity (Restricted Stock) | Time-vested restricted stock; vests on first anniversary; 2-year post-vesting holding period; acceleration upon death, disability, or change-in-control while serving | None disclosed for Mathews in 2024 (joined mid-year) |
| Options | No outstanding option awards for non-employee directors at year-end 2024 | None |
| Performance Metrics (Directors) | Not applicable; director equity awards are time-vested only (no PSUs) | — |
Other Directorships & Interlocks
| Company/Institution | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Catholic Charities of Baltimore | Non-profit | Director | None disclosed with EGBN customers/suppliers |
| Healthy Neighborhoods, Inc. | Non-profit | Board Chair | None disclosed with EGBN customers/suppliers |
| Business Volunteers Maryland | Non-profit | Former Treasurer; Governance Chair (retired) | None disclosed |
EGBN disclosure states no related party transactions with Mathews requiring Item 404(a) reporting and no selection arrangements with other persons .
Expertise & Qualifications
- 45+ years in commercial and commercial real estate lending; senior credit leadership (Senior Deputy Credit Officer; CRE Deputy Credit Officer; Senior Real Estate Credit Officer) supporting risk governance and asset quality oversight .
- Direct experience running Mid-Atlantic CRE unit and leading CRE division at Allfirst/First National at time of 2003 merger with M&T .
- Education: B.A., Princeton University (American History) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial Ownership | 7,157 shares as of March 20, 2025 (unvested time-vested restricted stock would be included if applicable) |
| Shares Outstanding Reference | 30,369,772 shares outstanding as of March 20, 2025 (company-level context) |
| Pledging/Hedging | Ownership table states none of such shares are pledged as security; EGBN prohibits director hedging and sets pledging constraints for executives; equity awards subject to insider trading policy and clawback under plan documents |
| Ownership Guidelines | Directors required to hold shares equal to 3x annual retainers; five years allowed to reach compliance; all directors and executive officers required to be in compliance were in compliance as of Dec 31, 2024 |
Insider Filings
| Filing | Date | Detail |
|---|---|---|
| Form 3 (Initial Statement of Beneficial Ownership) | August 8, 2024 | Reported initial ownership upon appointment as Director (July 26, 2024) |
Governance Assessment
- Board effectiveness: Credit and CRE risk expertise strengthens oversight of asset quality; current service on Asset Quality and prospective chairing of Governance & Nominating places Mathews in roles that shape board composition, evaluations, and risk culture .
- Independence and attendance: Determined independent by the Board; 2024 attendance threshold met (≥75%) amid 15 board meetings, supporting investor confidence in engagement .
- Alignment and incentives: Director equity is time-vested with hold requirements and change-in-control acceleration; ownership guidelines (3x retainers) and insider trading/anti-hedging policies reinforce alignment; no options outstanding for directors .
- Conflicts and related-party exposure: Company reports no related-party transactions with Mathews under Item 404(a); loans to related parties are managed under a board-approved RPT policy with Audit and Risk oversight, reducing conflict risk .
- RED FLAGS: None identified specific to Mathews; no pledging disclosed; no director options; no related-party dealings; independent status affirmed .