Eagle Bancorp, Inc. Announces Second Quarter 2026 Results

7/22/26 4:15:00 PM ET

Major Banks

Finance

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BETHESDA, Md., July 22, 2026 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. ("Eagle" or the "Company") (NASDAQ:EGBN), the Bethesda-based holding company for EagleBank (the "Bank"), one of the largest community banks in the Washington D.C. area, reported its unaudited results for the second quarter ended June 30, 2026.

Eagle reported net income of $6.9 million or $0.23 per share for the second quarter 2026, compared to $14.7 million or $0.48 per share for the first quarter of 2026. This $7.8 million decrease in net income is primarily due to $8.1 million higher provision for credit losses, compared to the prior quarter. In the second quarter, net interest income decreased $1.3 million, noninterest income decreased $1.9 million, while noninterest expense decreased $4.7 million.

Pre-provision net revenue ("PPNR")¹ improved in the second quarter to $29.1 million compared to $27.7 million for the prior quarter reflecting lower noninterest expense, partially offset by lower net interest income and noninterest income.

"Although I joined Eagle recently, it is clear that the organization has made significant progress in strengthening its balance sheet, reducing risk, and positioning the Company for the future. I am excited to work alongside our talented team to build on that momentum. My initial focus is centered on listening to our clients, employees, and shareholders to better understand how we can further strengthen our franchise. Our goal is to develop and execute a disciplined strategy that effectively manages risk, delivers consistent profitability, and creates long-term value for our shareholders," said Steve Curley, president and chief executive officer of the Company.

"We continued to make progress on our strategic priorities during the quarter with improving asset quality, expanding net interest margin and stronger pre-provision net revenue performance. While higher provision expense and commercial real estate payoffs impacted reported earnings, net interest margin expanded five basis points during the quarter as we continued reducing our reliance on higher-cost brokered funding," said Eric Newell, senior executive vice president and chief financial officer of the Company.

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on August 17, 2026 to shareholders of record on August 6, 2026.

Second Quarter of 2026 Key Elements

The Company announces today the declaration of a common stock dividend of $0.01 per share.
Total C&I loans (including owner-occupied) increased $83.2 million or 2.59%, and C&I deposits decreased $108.9 million, or 5.90% from the previous quarter reflecting timing dynamics rather than underlying relationship attrition. Year-over-year period end C&I deposit growth totaled $216.9 million or 14.28%.
As of the current quarter-end, the Company's CRE concentration ratio was 267.6% compared to 295.1% the prior quarter. ADC concentration was 66.2% compared to 75.7% in the prior quarter.
The ACL as a percentage of total loans was 1.83% at quarter-end; down from 2.12% at the prior quarter-end. Performing office coverage² was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for CRE office loans ("office overlay") as the CRE office portfolio decreased.
Non-performing assets decreased by $17.7 million to $113.1 million as of June 30, 2026, representing 1.17% of total assets, compared to $130.8 million, representing 1.31% of total assets as of March 31, 2026. During the quarter, non-performing loan inflows totaled $36.0 million. Reductions of $53.7 million reflected underlying collateral liquidations and sales of loans.
Including loans held for sale, substandard and special mention loans totaled $759.6 million at June 30, 2026, compared to $794.1 million in the prior quarter. Substandard and special mention loans held for sale totaled $25.6 million and $55.7 million at June 30, 2026 and March 31, 2026, respectively.
Annualized quarterly net charge-offs for the second quarter of 2026 were 2.78% compared to 1.46% for the first quarter of 2026. Charge offs during the quarter were elevated primarily due to disposition activities related to classified assets.
The net interest margin ("NIM") increased to 2.52% for the second quarter of 2026, compared to 2.47% for the prior quarter, primarily driven by improved funding mix as reduced brokered deposit usage lowered cost of funds. This improvement was partially offset by lower interest income from declines in average cash and loan balances.
At quarter-end, the common equity ratio, tangible common equity ratio¹, and common equity tier 1 capital (to risk-weighted assets) ratio were 11.91%, 11.91%, and 14.58%, respectively.
Total estimated insured deposits decreased at quarter-end to $5.9 billion, representing 72.3% of deposits, compared to $6.4 billion, or 74.2% in the prior quarter. This decrease was primarily due to lower balances in money market accounts and time deposits, as well as reduced usage of brokered deposits.
Total on-balance sheet liquidity and available capacity was $4.2 billion, compared to $2.3 billion in uninsured deposits, resulting in a coverage ratio of over 183%.

____________________

¹ A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP

Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

² Calculated as the ACL attributable to loans collateralized by performing office properties as a percentage of total office loans.

Income Statement

Net interest income was $62.4 million for the second quarter of 2026, compared to $63.7 million for the prior quarter. Both interest income and interest expense declined during the quarter, reflecting the impact of declining average interest-earning balances and a reduction in higher cost brokered deposits.
Provision for credit losses was $21.4 million for the second quarter of 2026, compared to $13.4 million for the prior quarter. The increase was primarily driven by execution of the Bank's problem asset resolution strategy, partially offset by a decline in the qualitative reserve. Net charge-offs were $47.9 million for the quarter compared to $26.0 million in the first quarter of 2026. The provision related to the reserve for unfunded commitments was $8 thousand, compared to a reversal of $1.8 million in the prior quarter.
Noninterest income was $10.8 million for the second quarter of 2026, a decrease of $1.9 million, compared to $12.7 million for the prior quarter. In the current quarter, gain on the sale of loans totaled $2.3 million as compared to a gain on sale of loans in the prior quarter of $3.6 million.
Noninterest expense was $44.0 million for the second quarter of 2026, compared to $48.7 million for the prior quarter. The decrease over the prior quarter was primarily due to a $2.1 million reduction in FDIC insurance expense driven by improved performance and risk metrics, and a decrease in expenses related to loan dispositions.
Income tax expense was $0.7 million for the second quarter of 2026, compared to a $1.3 million expense for the prior quarter. The decrease in income tax expense was primarily due to lower pre-tax income during the second quarter of 2026.

Loans and Funding

Total loans, including loans held for sale, were $6.7 billion at June 30, 2026, a decrease of 4.6% from the prior quarter-end. The decrease in total loans was primarily driven by declines in income-producing real estate loans, partially offset by an increase in commercial and industrial loans.
Total deposits at quarter-end were $8.2 billion, down $0.4 billion, or 4.7%, from the prior quarter-end. Of the quarter-over-quarter decline, brokered deposits represents $301.5 million. The decrease was primarily driven by lower balances in savings and money market accounts and brokered time deposits. Deposits decreased $934.5 million compared to June 30, 2025.

Asset Quality

Allowance for credit losses was 1.83% of total loans held for investment at June 30, 2026, compared to 2.12% at the prior quarter-end. Performing office coverage was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for office overlay as the CRE office portfolio decreased.
Net charge-offs were $47.9 million for the quarter, compared to $26.0 million in the first quarter of 2026. This increase was primarily associated with disposition activities related to classified assets.
Non-performing assets ("NPAs") were $113.1 million at June 30, 2026.
- NPAs as a percentage of assets were 1.17% at June 30, 2026, compared to 1.31% at the prior quarter-end. At June 30, 2026, OREO consisted of two properties with an aggregate carrying value of $2.0 million.
- Loans 30-89 days past due were $44.1 million at June 30, 2026, compared to $18.0 million at the prior quarter-end. As of the date of this press release, one loan with a balance of $35.4 million was subsequently paid off in full.

Capital

Total shareholders' equity was $1.2 billion at June 30, 2026, up 0.5% from the prior quarter-end. The increase in shareholders' equity of $5.2 million was primarily due to quarterly income that increased capital.
Book value per share and tangible book value per share³ were $37.73 and $37.73, an increase of 0.5% from the prior quarter-end.

____________________

³ A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP

Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

Additional financial information: The financial information that follows provides more detail on the Company's financial performance for the three months ended June 30, 2026 as compared to the three months ended March 31, 2026 and June 30, 2025, as well as eight quarters of trend data. Persons wishing additional information should refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the SEC.

About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and operates through twelve banking offices and four lending offices located in Suburban Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace, and is committed to a culture of respect, opportunity, belonging, and inclusion in both its workplace and the communities in which it operates.

Conference call: Eagle Bancorp will host a conference call to discuss its second quarter of 2026 financial results on Thursday, July 23, 2026 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

https://edge.media-server.com/mmc/p/jdnqw6c5/
For analysts who wish to participate in the conference call, please register at the following URL:

https://register-conf.media-server.com/register/BIa8e0958131fb45c88951e0437669e334
A replay of the conference call will be available on the Company's website through Thursday, August 6, 2026: https://www.eaglebankcorp.com/

Forward-looking statements: This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events, financial condition, asset quality or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as "may," "will," "can," "anticipates," "believes," "expects," "plans," "strategy," "estimates," "potential," "continue," "should," "could," "strive," "feel" and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company's market (including reductions in the size of the federal government workforce; changes in government spending; the economic effects of an extended government shutdown; the proposal, announcement or imposition of tariffs; volatility in interest rates and interest rate, monetary and fiscal policy; inflation levels; competitive factors; our ability to access cost-effective funding) and other conditions (such as the impact of bank failures, credit losses or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks), which by their nature are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and in other periodic and current reports filed with the SEC, including the Company's Quarterly Reports on Form 10-Q. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance. All information is as of the date of this press release. Any forward-looking statements made by or on behalf of the Company speak only as to the date they are made. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.


Eagle Bancorp, Inc.
Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share data)

	Three Months Ended
	June 30,		March 31,			June 30,
		2026		2026			2025
Interest Income
Interest and fees on loans	$	106,358	$	109,566		$	125,247
Interest and dividends on investment securities		9,243		9,646			11,436
Interest on balances with other banks and short-term investments		10,978		12,689			14,760
Total interest income		126,579		131,901			151,443
Interest Expense
Interest on deposits		61,623		66,181			78,912
Interest on customer repurchase agreements		—		—			250
Interest on other short-term borrowings		582		—			2,489
Interest on long-term borrowings		2,024		2,026			2,016
Total interest expense		64,229		68,207			83,667
Net Interest Income		62,350		63,694			67,776
Provision for Credit Losses		21,448		13,382			138,159
Provision (Reversal) for Credit Losses for Unfunded Commitments		8		(1,779	)		1,759
Net Interest Income (Loss) After Provision for Credit Losses		40,894		52,091			(72,142	)

Noninterest Income
Service charges on deposits		1,733		1,732			1,771
Gain (loss) on sale of loans		2,291		3,550			—
Net gain (loss) on sale of investment securities		266		3			(1,854	)
Increase in cash surrender value of bank-owned life insurance		5,672		5,679			5,161
Other income		797		1,744			1,336
Total noninterest income		10,759		12,708			6,414
Noninterest Expense
Salaries and employee benefits		23,366		23,247			21,940
Premises and equipment expenses		2,445		2,533			3,019
Marketing and advertising		1,161		868			1,144
Data processing		4,257		4,204			4,293
Legal, accounting and professional fees		4,783		4,312			1,550
FDIC insurance		4,862		7,009			8,077
Other expenses		3,154		6,567			3,447
Total noninterest expense		44,028		48,740			43,470
Income (Loss) Before Income Tax Expense		7,625		16,059			(109,198	)
Income Tax Expense (Benefit)		707		1,341			(39,423	)
Net Income (Loss)	$	6,918	$	14,718		$	(69,775	)

Earnings (Loss) Per Common Share
Basic	$	0.23	$	0.48		$	(2.30	)
Diluted	$	0.23	$	0.48		$	(2.30	)

Eagle Bancorp, Inc.
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share data)

	June 30,			March 31,			June 30,
		2026			2026			2025
Assets
Cash and due from banks	$	13,394		$	12,626		$	18,096
Interest-bearing deposits with banks and other short-term investments		612,349			566,733			239,237
Investment securities available-for-sale at fair value (amortized cost of $984,607, $1,008,764, and $1,271,179 respectively, and allowance for credit losses of $—, $—, and $—, respectively)		904,183			930,314			1,170,489
Investment securities held-to-maturity at amortized cost, net of allowance for credit losses of $454, $907, and $1,229 respectively (fair value of $730,994, $757,238, and $799,136 respectively)		814,878			841,273			896,855
Federal Reserve and Federal Home Loan Bank stock		32,500			27,685			30,613
Loans held for sale, at lower of cost or fair value		49,663			55,702			37,576
Loans held for investment, at amortized cost		6,622,435			6,938,560			7,721,664
Less: allowance for credit losses		(121,141	)		(147,163	)		(183,796	)
Loans held for investment, net of allowance		6,501,294			6,791,397			7,537,868
Premises and equipment, net		13,239			12,864			7,103
Operating lease right-of-use assets		27,964			27,569			31,202
Deferred income taxes		134,077			132,729			80,731
Bank-owned life insurance		345,469			339,844			325,174
Other real estate owned		1,966			2,059			2,459
Other assets		207,938			213,486			223,928
Total Assets	$	9,658,914		$	9,954,281		$	10,601,331
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing demand	$	1,567,336		$	1,488,668		$	1,532,132
Interest-bearing transaction		973,651			978,330			895,604
Savings and money market		3,061,987			3,286,125			3,267,630
Time deposits		2,582,123			2,838,376			3,424,241
Total deposits		8,185,097			8,591,499			9,119,607
Customer repurchase agreements		—			—			23,442
Other short-term borrowings		100,000			—			50,000
Long-term borrowings		76,593			76,511			76,264
Operating lease liabilities		35,081			34,532			37,297
Reserve for unfunded commitments		3,319			3,311			4,925
Other liabilities		108,318			103,151			104,729
Total Liabilities		8,508,408			8,809,004			9,416,264
Shareholders' Equity
Common stock, par value $0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,490,409, 30,494,659, and 30,364,983 respectively		302			302			300
Additional paid-in capital		385,082			383,050			388,927
Retained earnings		858,601			851,998			904,205
Accumulated other comprehensive loss		(93,479	)		(90,073	)		(108,365	)
Total Shareholders' Equity		1,150,506			1,145,277			1,185,067
Total Liabilities and Shareholders' Equity	$	9,658,914		$	9,954,281		$	10,601,331

Loan Mix and Asset Quality (Dollars in thousands)

	June 30,				March 31,				June 30,
		2026				2026				2025
	Amount		%		Amount		%		Amount		%
Loan Balances - Period End:
Commercial	$	1,540,766	23	%	$	1,432,933	21	%	$	1,207,512	15	%
Income producing - commercial real estate		2,729,383	41	%		3,030,004	44	%		3,768,884	48	%
Owner occupied - commercial real estate		1,660,748	25	%		1,686,210	23	%		1,365,901	18	%
Real estate mortgage - residential		35,536	1	%		35,743	1	%		45,921	1	%
Construction - commercial and residential		523,121	8	%		617,992	9	%		1,211,728	16	%
Construction - C&I (owner occupied)		88,457	1	%		87,666	1	%		69,554	1	%
Home equity		43,479	1	%		44,948	1	%		49,224	1	%
Other consumer		945	—	%		3,064	—	%		2,776	—	%
Total loans	$	6,622,435	100	%	$	6,938,560	100	%	$	7,721,664	100	%


	Three Months Ended or As Of
	June 30,		March 31,		June 30,
		2026		2026		2025
Asset Quality:
Non-performing loans	$	111,124	$	128,761	$	226,420
Other real estate owned		1,966		2,059		2,459
Non-performing assets	$	113,090	$	130,820	$	228,879
Net charge-offs	$	47,909	$	25,960	$	83,877
Special mention	$	274,187	$	290,827	$	173,311
Substandard	$	459,773	$	447,604	$	702,128

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Prior Quarter (Unaudited)
(Dollars in thousands)

	Three Months Ended
	June 30, 2026							March 31, 2026
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,226,640		$	10,978	3.59	%	$	1,420,918		$	12,689	3.62	%
Loans held for sale⁽¹⁾		40,356			910	9.04	%		85,096			1,380	6.58	%
Loans^{(1) (2)}		6,888,734			105,448	6.14	%		7,112,483			108,185	6.17	%
Investment securities available-for-sale⁽²⁾		950,891			5,147	2.17	%		988,390			5,187	2.13	%
Investment securities held-to-maturity⁽²⁾		830,921			4,096	1.98	%		849,802			4,460	2.13	%
Total interest earning assets		9,937,542			126,579	5.11	%		10,456,689			131,901	5.12	%

Noninterest earning assets		737,466							734,996
Less: allowance for credit losses		(151,328	)						(161,755	)
Total noninterest earning assets		586,138							573,241
Total Assets	$	10,523,680						$	11,029,930

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,447,015		$	9,379	2.60	%	$	1,462,553		$	9,317	2.58	%
Savings and money market		3,194,094			24,139	3.03	%		3,437,234			25,851	3.05	%
Time deposits		2,683,953			28,044	4.19	%		2,934,494			30,957	4.28	%
Total interest bearing deposits		7,325,062			61,562	3.37	%		7,834,281			66,125	3.42	%
Derivative collateral liability		14,834			60	1.62	%		7,745			56	2.93	%
Other short-term borrowings		60,440			583	3.87	%		—			—	—	%
Long-term borrowings		76,566			2,024	10.60	%		76,483			2,026	10.73	%
Total interest bearing liabilities		7,476,902			64,229	3.45	%		7,918,509			68,207	3.49	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,760,058							1,817,726
Other liabilities		133,356							146,110
Total noninterest bearing liabilities		1,893,414							1,963,836
Shareholders' equity		1,153,364							1,147,585
Total Liabilities and Shareholders’ Equity	$	10,523,680						$	11,029,930
Net interest income				$	62,350						$	63,694
Net interest spread						1.66	%						1.63	%
Net interest margin						2.52	%						2.47	%
Cost of funds						2.79	%						2.84	%

⁽¹⁾	Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.89 million and $3.90 million for the three months ended June 30, 2026 and March 31, 2026, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Year Ago Quarter (Unaudited)
(Dollars in thousands)

	Three Months Ended June 30,
		2026							2025
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,226,640		$	10,978	3.59	%	$	1,377,966		$	14,773	4.30	%
Loans held for sale⁽¹⁾		40,356			910	9.04	%		15,418			284	7.39	%
Loans^{(1) (2)}		6,888,734			105,448	6.14	%		7,942,333			124,939	6.31	%
Investment securities available-for-sale⁽²⁾		950,891			5,147	2.17	%		1,233,206			6,491	2.11	%
Investment securities held-to-maturity⁽²⁾		830,921			4,096	1.98	%		918,083			4,945	2.16	%
Total interest earning assets		9,937,542			126,579	5.11	%		11,487,006			151,432	5.29	%

Noninterest earning assets		737,466							635,125
Less: allowance for credit losses		(151,328	)						(133,036	)
Total noninterest earning assets		586,138							502,089
Total Assets	$	10,523,680						$	11,989,095

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,447,015		$	9,379	2.60	%	$	1,489,056		$	9,982	2.69	%
Savings and money market		3,194,094			24,139	3.03	%		3,461,918			29,634	3.43	%
Time deposits		2,683,953			28,044	4.19	%		3,367,907			39,296	4.68	%
Total interest bearing deposits		7,325,062			61,562	3.37	%		8,318,881			78,912	3.80	%
Customer repurchase agreements		—			—	—	%		34,387			250	2.92	%
Derivative collateral liability		14,834			60	1.62	%		12,710			118	3.72	%
Other short-term borrowings		60,440			583	3.87	%		245,291			2,360	3.86	%
Long-term borrowings		76,566			2,024	10.60	%		76,236			2,016	10.61	%
Total interest bearing liabilities		7,476,902			64,229	3.45	%		8,687,505			83,656	3.86	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,760,058							1,907,214
Other liabilities		133,356							142,124
Total noninterest bearing liabilities		1,893,414							2,049,338
Shareholders' equity		1,153,364							1,252,252
Total Liabilities and Shareholders’ Equity	$	10,523,680						$	11,989,095
Net interest income				$	62,350						$	67,776
Net interest spread						1.66	%						1.43	%
Net interest margin						2.52	%						2.37	%
Cost of funds						2.79	%						3.17	%

⁽¹⁾	Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.9 million and $3.6 million for the three months ended June 30, 2026 and 2025, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Statements of Operations and Highlights Quarterly Trends (Unaudited)
(Dollars in thousands, except per share data)

	Three Months Ended
	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Income Statements:
Total interest income	$	126,579		$	131,901		$	149,526		$	150,103		$	151,443		$	153,878		$	168,417		$	173,813
Total interest expense		64,229			68,207			81,223			81,944			83,667			88,229			97,623			101,970
Net interest income		62,350			63,694			68,303			68,159			67,776			65,649			70,794			71,843
Provision for credit losses		21,448			13,382			15,468			113,215			138,159			26,255			12,132			10,094
Provision (reversal) for credit losses for unfunded commitments		8			(1,779	)		203			(38	)		1,759			(297	)		(1,598	)		(1,593	)
Net interest income after provision for credit losses		40,894			52,091			52,632			(45,018	)		(72,142	)		39,691			60,260			63,342
Noninterest income before investment gain		10,493			12,705			12,183			4,477			8,268			8,203			4,063			6,948
Net gain (loss) on sale of investment securities		266			3			9			(1,982	)		(1,854	)		4			4			3
Total noninterest income		10,759			12,708			12,192			2,495			6,414			8,207			4,067			6,951
Salaries and employee benefits		23,366			23,247			22,661			21,290			21,940			21,968			22,597			21,675
Premises and equipment expenses		2,445			2,533			2,861			2,944			3,019			3,203			2,635			2,794
Marketing and advertising		1,161			868			1,185			1,316			1,144			1,371			1,340			1,588
Legal Contingency		(206	)		—			10,000			—			—			—			—			—
Other expenses		17,262			22,092			33,130			16,347			17,367			18,909			17,960			17,557
Total noninterest expense		44,028			48,740			69,837			41,897			43,470			45,451			44,532			43,614
Income (loss) before income tax expense		7,625			16,059			(5,013	)		(84,420	)		(109,198	)		2,447			19,795			26,679
Income tax expense		707			1,341			(2,574	)		(16,907	)		(39,423	)		772			4,505			4,864
Net income (loss)		6,918			14,718			(2,439	)		(67,513	)		(69,775	)		1,675			15,290			21,815
Per Share Data:
Earnings (loss) per weighted average common share, basic	$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.51		$	0.72
Earnings (loss) per weighted average common share, diluted	$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.50		$	0.72
Weighted average common shares outstanding, basic		30,495,258			30,422,259			30,368,432			30,367,997			30,373,167			30,275,001			30,199,433			30,173,852
Weighted average common shares outstanding, diluted		30,570,105			30,540,379			30,584,374			30,367,997			30,510,847			30,404,262			30,321,644			30,241,699
Actual shares outstanding at period end		30,490,409			30,494,659			30,359,632			30,366,555			30,364,983			30,368,843			30,202,003			30,173,200
Book value per common share at period end	$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.60		$	40.61
Tangible book value per common share at period end⁽¹⁾	$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.59		$	40.61
Dividend per common share	$	0.010		$	0.010		$	0.010		$	0.010		$	0.165		$	0.165		$	0.165		$	0.165
Performance Ratios (annualized):
Return on average assets		0.26	%		0.54	%	(0.08) %			(2.31) %			(2.33) %				0.06	%		0.48	%		0.70	%
Return on average common equity		2.41	%		5.20	%	(0.85) %			(22.66) %			(22.35) %				0.55	%		4.94	%		7.22	%
Return on average tangible common equity⁽¹⁾		2.41	%		5.20	%	(0.85) %			(22.66) %			(22.35) %				0.55	%		4.94	%		7.22	%
Net interest margin		2.52	%		2.47	%		2.38	%		2.43	%		2.37	%		2.28	%		2.29	%		2.37	%
Efficiency ratio⁽²⁾		60.2	%		63.8	%		86.8	%		59.3	%		58.6	%		61.5	%		59.5	%		55.4	%
Other Ratios:
Allowance for credit losses to total loans⁽³⁾		1.83	%		2.12	%		2.19	%		2.14	%		2.38	%		1.63	%		1.44	%		1.40	%
Allowance for credit losses to total non-performing loans		109.01	%		114.29	%		149.31	%		131.67	%		81.17	%		64.59	%		54.81	%		83.25	%
Non-performing assets to total assets		1.17	%		1.31	%		1.04	%		1.23	%		2.16	%		1.79	%		1.90	%		1.22	%
Net charge-offs (recoveries) (annualized) to average total loans⁽³⁾		2.78	%		1.46	%		0.67	%		7.36	%		4.22	%		0.57	%		0.48	%		0.26	%
Tier 1 capital (to average assets)		11.22	%		10.63	%		9.72	%		10.40	%		10.63	%		11.11	%		10.74	%		10.77	%
Total capital (to risk weighted assets)		15.84	%		15.05	%		14.33	%		14.83	%		15.27	%		15.86	%		15.86	%		15.51	%
Common equity tier 1 capital (to risk weighted assets)		14.58	%		13.80	%		13.07	%		13.58	%		14.01	%		14.61	%		14.63	%		14.30	%
Tangible common equity ratio⁽¹⁾		11.91	%		11.51	%		10.78	%		10.39	%		11.18	%		11.00	%		11.02	%		10.86	%
Average Balances (in thousands):
Total assets	$	10,523,680		$	11,029,930		$	11,964,701		$	11,597,399		$	11,989,095		$	12,118,190		$	12,575,722		$	12,360,899
Total earning assets		9,937,542			10,456,689			11,389,162			11,137,543			11,487,006			11,640,162			12,303,940			12,072,891
Total loans⁽³⁾		6,888,734			7,112,483			7,338,320			7,648,459			7,942,333			7,933,695			7,971,907			8,026,524
Total deposits		9,085,120			9,652,007			10,590,252			10,163,215			10,226,095			9,883,233			10,056,463			9,344,414
Total borrowings		137,006			76,483			83,056			131,225			355,914			794,940			1,118,276			1,654,736
Total shareholders' equity		1,153,364			1,147,585			1,140,402			1,182,148			1,252,252			1,242,805			1,230,573			1,201,477

⁽¹⁾	A reconciliation of non-GAAP financial measures to the nearest GAAP measure is provided in the tables that accompany this document.
⁽²⁾	Computed by dividing noninterest expense by the sum of net interest income and noninterest income.
⁽³⁾	Excludes loans held for sale.

GAAP Reconciliation to Non-GAAP Financial Measures (unaudited)
(dollars in thousands, except per share data)

	Three Months Ended
	June 30,			March 31,			June 30,
		2026			2026			2025
Tangible common equity
Common shareholders' equity	$	1,150,506		$	1,145,277		$	1,185,067
Less: Intangible assets		—			—			(9	)
Tangible common equity	$	1,150,506		$	1,145,277		$	1,185,058

Tangible common equity ratio
Total assets	$	9,658,914		$	9,954,281		$	10,601,331
Less: Intangible assets		—			—			(9	)
Tangible assets	$	9,658,914		$	9,954,281		$	10,601,322
Tangible common equity ratio		11.91	%		11.51	%		11.18	%

Per share calculations
Book value per common share	$	37.73		$	37.56		$	39.03
Less: Intangible book value per common share	$	—		$	—		$	—
Tangible book value per common share	$	37.73		$	37.56		$	39.03

Shares outstanding at period end		30,490,409			30,494,659			30,364,983

Average tangible common equity
Average common shareholders' equity	$	1,153,364		$	1,147,585		$	1,252,252
Less: Average intangible assets		—			—			(11	)
Average tangible common equity	$	1,153,364		$	1,147,585		$	1,252,241

Return on average tangible common equity
Net (loss) income	$	6,918		$	14,718		$	(69,775	)
Return on average tangible common equity		2.41	%		5.20	%	(22.35) %

Pre-provision net revenue
Net interest income	$	62,350		$	63,694		$	67,776
Noninterest income		10,759			12,708			6,414
Less: Noninterest expense		(44,028	)		(48,740	)		(43,470	)
Pre-provision net revenue	$	29,081		$	27,662		$	30,720

Tangible common equity, tangible common equity to tangible assets (the "tangible common equity ratio"), tangible book value per common share, average tangible common equity, and the annualized return on average tangible common equity are non-GAAP financial measures derived from GAAP based amounts. The Company calculates the tangible common equity ratio by excluding the balance of intangible assets from common shareholders' equity, or tangible common equity, and dividing by tangible assets. The Company calculates tangible book value per common share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which the Company calculates by dividing common shareholders' equity by common shares outstanding. The Company calculates the annualized return on average tangible common equity ratio by dividing net income available to common shareholders by average tangible common equity, which is calculated by excluding the average balance of intangible assets from the average common shareholders' equity. The Company considers this information important to shareholders as tangible equity is a measure that is consistent with the calculation of capital for bank regulatory purposes, which excludes intangible assets from the calculation of risk based ratios, and as such is useful for investors, regulators, management and others to evaluate capital adequacy and to compare against other financial institutions.

Pre-provision net revenue is a non-GAAP financial measure calculated by subtracting noninterest expenses from the sum of net interest income and noninterest income. The Company considers this information important to shareholders because it illustrates revenue excluding the impact of provisions and reversals to the allowance for credit losses on loans.

For the June 30, 2026 Earnings Presentation, click FINAL - 2Q2026 EGBN Earnings DECK.

EAGLE BANCORP, INC.

CONTACT:

Eric R. Newell

240.497.1796

Get the next $EGBN alert in real time by email

Date

Price Target

Rating

Analyst

4/15/2026

$32.00

Strong Buy

Raymond James

6/10/2025

$24.00

Neutral → Buy

Janney

5/21/2025

$20.00

Hold

Jefferies

10/21/2024

$27.00

Neutral

Piper Sandler

12/5/2022

$50.00

Neutral

Piper Sandler

Eagle Bancorp, Inc. Announces Second Quarter 2026 Results

7/22/26 4:15:00 PM ET

$EGBN

Major Banks

Finance

Get the next $EGBN alert in real time by email

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on August 17, 2026 to shareholders of record on August 6, 2026.

Second Quarter of 2026 Key Elements

The Company announces today the declaration of a common stock dividend of $0.01 per share.
Total C&I loans (including owner-occupied) increased $83.2 million or 2.59%, and C&I deposits decreased $108.9 million, or 5.90% from the previous quarter reflecting timing dynamics rather than underlying relationship attrition. Year-over-year period end C&I deposit growth totaled $216.9 million or 14.28%.
As of the current quarter-end, the Company's CRE concentration ratio was 267.6% compared to 295.1% the prior quarter. ADC concentration was 66.2% compared to 75.7% in the prior quarter.
The ACL as a percentage of total loans was 1.83% at quarter-end; down from 2.12% at the prior quarter-end. Performing office coverage² was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for CRE office loans ("office overlay") as the CRE office portfolio decreased.
Non-performing assets decreased by $17.7 million to $113.1 million as of June 30, 2026, representing 1.17% of total assets, compared to $130.8 million, representing 1.31% of total assets as of March 31, 2026. During the quarter, non-performing loan inflows totaled $36.0 million. Reductions of $53.7 million reflected underlying collateral liquidations and sales of loans.
Including loans held for sale, substandard and special mention loans totaled $759.6 million at June 30, 2026, compared to $794.1 million in the prior quarter. Substandard and special mention loans held for sale totaled $25.6 million and $55.7 million at June 30, 2026 and March 31, 2026, respectively.
Annualized quarterly net charge-offs for the second quarter of 2026 were 2.78% compared to 1.46% for the first quarter of 2026. Charge offs during the quarter were elevated primarily due to disposition activities related to classified assets.
The net interest margin ("NIM") increased to 2.52% for the second quarter of 2026, compared to 2.47% for the prior quarter, primarily driven by improved funding mix as reduced brokered deposit usage lowered cost of funds. This improvement was partially offset by lower interest income from declines in average cash and loan balances.
At quarter-end, the common equity ratio, tangible common equity ratio¹, and common equity tier 1 capital (to risk-weighted assets) ratio were 11.91%, 11.91%, and 14.58%, respectively.
Total estimated insured deposits decreased at quarter-end to $5.9 billion, representing 72.3% of deposits, compared to $6.4 billion, or 74.2% in the prior quarter. This decrease was primarily due to lower balances in money market accounts and time deposits, as well as reduced usage of brokered deposits.
Total on-balance sheet liquidity and available capacity was $4.2 billion, compared to $2.3 billion in uninsured deposits, resulting in a coverage ratio of over 183%.

Income Statement

Net interest income was $62.4 million for the second quarter of 2026, compared to $63.7 million for the prior quarter. Both interest income and interest expense declined during the quarter, reflecting the impact of declining average interest-earning balances and a reduction in higher cost brokered deposits.
Provision for credit losses was $21.4 million for the second quarter of 2026, compared to $13.4 million for the prior quarter. The increase was primarily driven by execution of the Bank's problem asset resolution strategy, partially offset by a decline in the qualitative reserve. Net charge-offs were $47.9 million for the quarter compared to $26.0 million in the first quarter of 2026. The provision related to the reserve for unfunded commitments was $8 thousand, compared to a reversal of $1.8 million in the prior quarter.
Noninterest income was $10.8 million for the second quarter of 2026, a decrease of $1.9 million, compared to $12.7 million for the prior quarter. In the current quarter, gain on the sale of loans totaled $2.3 million as compared to a gain on sale of loans in the prior quarter of $3.6 million.
Noninterest expense was $44.0 million for the second quarter of 2026, compared to $48.7 million for the prior quarter. The decrease over the prior quarter was primarily due to a $2.1 million reduction in FDIC insurance expense driven by improved performance and risk metrics, and a decrease in expenses related to loan dispositions.
Income tax expense was $0.7 million for the second quarter of 2026, compared to a $1.3 million expense for the prior quarter. The decrease in income tax expense was primarily due to lower pre-tax income during the second quarter of 2026.

Loans and Funding

Total loans, including loans held for sale, were $6.7 billion at June 30, 2026, a decrease of 4.6% from the prior quarter-end. The decrease in total loans was primarily driven by declines in income-producing real estate loans, partially offset by an increase in commercial and industrial loans.
Total deposits at quarter-end were $8.2 billion, down $0.4 billion, or 4.7%, from the prior quarter-end. Of the quarter-over-quarter decline, brokered deposits represents $301.5 million. The decrease was primarily driven by lower balances in savings and money market accounts and brokered time deposits. Deposits decreased $934.5 million compared to June 30, 2025.

Asset Quality

Allowance for credit losses was 1.83% of total loans held for investment at June 30, 2026, compared to 2.12% at the prior quarter-end. Performing office coverage was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for office overlay as the CRE office portfolio decreased.
Net charge-offs were $47.9 million for the quarter, compared to $26.0 million in the first quarter of 2026. This increase was primarily associated with disposition activities related to classified assets.
Non-performing assets ("NPAs") were $113.1 million at June 30, 2026.
- NPAs as a percentage of assets were 1.17% at June 30, 2026, compared to 1.31% at the prior quarter-end. At June 30, 2026, OREO consisted of two properties with an aggregate carrying value of $2.0 million.
- Loans 30-89 days past due were $44.1 million at June 30, 2026, compared to $18.0 million at the prior quarter-end. As of the date of this press release, one loan with a balance of $35.4 million was subsequently paid off in full.

Capital

Total shareholders' equity was $1.2 billion at June 30, 2026, up 0.5% from the prior quarter-end. The increase in shareholders' equity of $5.2 million was primarily due to quarterly income that increased capital.
Book value per share and tangible book value per share³ were $37.73 and $37.73, an increase of 0.5% from the prior quarter-end.

Conference call: Eagle Bancorp will host a conference call to discuss its second quarter of 2026 financial results on Thursday, July 23, 2026 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

https://edge.media-server.com/mmc/p/jdnqw6c5/
For analysts who wish to participate in the conference call, please register at the following URL:

https://register-conf.media-server.com/register/BIa8e0958131fb45c88951e0437669e334
A replay of the conference call will be available on the Company's website through Thursday, August 6, 2026: https://www.eaglebankcorp.com/


Eagle Bancorp, Inc.
Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share data)

	Three Months Ended
	June 30,		March 31,			June 30,
		2026		2026			2025
Interest Income
Interest and fees on loans	$	106,358	$	109,566		$	125,247
Interest and dividends on investment securities		9,243		9,646			11,436
Interest on balances with other banks and short-term investments		10,978		12,689			14,760
Total interest income		126,579		131,901			151,443
Interest Expense
Interest on deposits		61,623		66,181			78,912
Interest on customer repurchase agreements		—		—			250
Interest on other short-term borrowings		582		—			2,489
Interest on long-term borrowings		2,024		2,026			2,016
Total interest expense		64,229		68,207			83,667
Net Interest Income		62,350		63,694			67,776
Provision for Credit Losses		21,448		13,382			138,159
Provision (Reversal) for Credit Losses for Unfunded Commitments		8		(1,779	)		1,759
Net Interest Income (Loss) After Provision for Credit Losses		40,894		52,091			(72,142	)

Noninterest Income
Service charges on deposits		1,733		1,732			1,771
Gain (loss) on sale of loans		2,291		3,550			—
Net gain (loss) on sale of investment securities		266		3			(1,854	)
Increase in cash surrender value of bank-owned life insurance		5,672		5,679			5,161
Other income		797		1,744			1,336
Total noninterest income		10,759		12,708			6,414
Noninterest Expense
Salaries and employee benefits		23,366		23,247			21,940
Premises and equipment expenses		2,445		2,533			3,019
Marketing and advertising		1,161		868			1,144
Data processing		4,257		4,204			4,293
Legal, accounting and professional fees		4,783		4,312			1,550
FDIC insurance		4,862		7,009			8,077
Other expenses		3,154		6,567			3,447
Total noninterest expense		44,028		48,740			43,470
Income (Loss) Before Income Tax Expense		7,625		16,059			(109,198	)
Income Tax Expense (Benefit)		707		1,341			(39,423	)
Net Income (Loss)	$	6,918	$	14,718		$	(69,775	)

Earnings (Loss) Per Common Share
Basic	$	0.23	$	0.48		$	(2.30	)
Diluted	$	0.23	$	0.48		$	(2.30	)

Eagle Bancorp, Inc.
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share data)

	June 30,			March 31,			June 30,
		2026			2026			2025
Assets
Cash and due from banks	$	13,394		$	12,626		$	18,096
Interest-bearing deposits with banks and other short-term investments		612,349			566,733			239,237
Investment securities available-for-sale at fair value (amortized cost of $984,607, $1,008,764, and $1,271,179 respectively, and allowance for credit losses of $—, $—, and $—, respectively)		904,183			930,314			1,170,489
Investment securities held-to-maturity at amortized cost, net of allowance for credit losses of $454, $907, and $1,229 respectively (fair value of $730,994, $757,238, and $799,136 respectively)		814,878			841,273			896,855
Federal Reserve and Federal Home Loan Bank stock		32,500			27,685			30,613
Loans held for sale, at lower of cost or fair value		49,663			55,702			37,576
Loans held for investment, at amortized cost		6,622,435			6,938,560			7,721,664
Less: allowance for credit losses		(121,141	)		(147,163	)		(183,796	)
Loans held for investment, net of allowance		6,501,294			6,791,397			7,537,868
Premises and equipment, net		13,239			12,864			7,103
Operating lease right-of-use assets		27,964			27,569			31,202
Deferred income taxes		134,077			132,729			80,731
Bank-owned life insurance		345,469			339,844			325,174
Other real estate owned		1,966			2,059			2,459
Other assets		207,938			213,486			223,928
Total Assets	$	9,658,914		$	9,954,281		$	10,601,331
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing demand	$	1,567,336		$	1,488,668		$	1,532,132
Interest-bearing transaction		973,651			978,330			895,604
Savings and money market		3,061,987			3,286,125			3,267,630
Time deposits		2,582,123			2,838,376			3,424,241
Total deposits		8,185,097			8,591,499			9,119,607
Customer repurchase agreements		—			—			23,442
Other short-term borrowings		100,000			—			50,000
Long-term borrowings		76,593			76,511			76,264
Operating lease liabilities		35,081			34,532			37,297
Reserve for unfunded commitments		3,319			3,311			4,925
Other liabilities		108,318			103,151			104,729
Total Liabilities		8,508,408			8,809,004			9,416,264
Shareholders' Equity
Common stock, par value $0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,490,409, 30,494,659, and 30,364,983 respectively		302			302			300
Additional paid-in capital		385,082			383,050			388,927
Retained earnings		858,601			851,998			904,205
Accumulated other comprehensive loss		(93,479	)		(90,073	)		(108,365	)
Total Shareholders' Equity		1,150,506			1,145,277			1,185,067
Total Liabilities and Shareholders' Equity	$	9,658,914		$	9,954,281		$	10,601,331

Loan Mix and Asset Quality (Dollars in thousands)

	June 30,				March 31,				June 30,
		2026				2026				2025
	Amount		%		Amount		%		Amount		%
Loan Balances - Period End:
Commercial	$	1,540,766	23	%	$	1,432,933	21	%	$	1,207,512	15	%
Income producing - commercial real estate		2,729,383	41	%		3,030,004	44	%		3,768,884	48	%
Owner occupied - commercial real estate		1,660,748	25	%		1,686,210	23	%		1,365,901	18	%
Real estate mortgage - residential		35,536	1	%		35,743	1	%		45,921	1	%
Construction - commercial and residential		523,121	8	%		617,992	9	%		1,211,728	16	%
Construction - C&I (owner occupied)		88,457	1	%		87,666	1	%		69,554	1	%
Home equity		43,479	1	%		44,948	1	%		49,224	1	%
Other consumer		945	—	%		3,064	—	%		2,776	—	%
Total loans	$	6,622,435	100	%	$	6,938,560	100	%	$	7,721,664	100	%


	Three Months Ended or As Of
	June 30,		March 31,		June 30,
		2026		2026		2025
Asset Quality:
Non-performing loans	$	111,124	$	128,761	$	226,420
Other real estate owned		1,966		2,059		2,459
Non-performing assets	$	113,090	$	130,820	$	228,879
Net charge-offs	$	47,909	$	25,960	$	83,877
Special mention	$	274,187	$	290,827	$	173,311
Substandard	$	459,773	$	447,604	$	702,128

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Prior Quarter (Unaudited)
(Dollars in thousands)

	Three Months Ended
	June 30, 2026							March 31, 2026
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,226,640		$	10,978	3.59	%	$	1,420,918		$	12,689	3.62	%
Loans held for sale⁽¹⁾		40,356			910	9.04	%		85,096			1,380	6.58	%
Loans^{(1) (2)}		6,888,734			105,448	6.14	%		7,112,483			108,185	6.17	%
Investment securities available-for-sale⁽²⁾		950,891			5,147	2.17	%		988,390			5,187	2.13	%
Investment securities held-to-maturity⁽²⁾		830,921			4,096	1.98	%		849,802			4,460	2.13	%
Total interest earning assets		9,937,542			126,579	5.11	%		10,456,689			131,901	5.12	%

Noninterest earning assets		737,466							734,996
Less: allowance for credit losses		(151,328	)						(161,755	)
Total noninterest earning assets		586,138							573,241
Total Assets	$	10,523,680						$	11,029,930

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,447,015		$	9,379	2.60	%	$	1,462,553		$	9,317	2.58	%
Savings and money market		3,194,094			24,139	3.03	%		3,437,234			25,851	3.05	%
Time deposits		2,683,953			28,044	4.19	%		2,934,494			30,957	4.28	%
Total interest bearing deposits		7,325,062			61,562	3.37	%		7,834,281			66,125	3.42	%
Derivative collateral liability		14,834			60	1.62	%		7,745			56	2.93	%
Other short-term borrowings		60,440			583	3.87	%		—			—	—	%
Long-term borrowings		76,566			2,024	10.60	%		76,483			2,026	10.73	%
Total interest bearing liabilities		7,476,902			64,229	3.45	%		7,918,509			68,207	3.49	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,760,058							1,817,726
Other liabilities		133,356							146,110
Total noninterest bearing liabilities		1,893,414							1,963,836
Shareholders' equity		1,153,364							1,147,585
Total Liabilities and Shareholders’ Equity	$	10,523,680						$	11,029,930
Net interest income				$	62,350						$	63,694
Net interest spread						1.66	%						1.63	%
Net interest margin						2.52	%						2.47	%
Cost of funds						2.79	%						2.84	%

⁽¹⁾	Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.89 million and $3.90 million for the three months ended June 30, 2026 and March 31, 2026, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Year Ago Quarter (Unaudited)
(Dollars in thousands)

	Three Months Ended June 30,
		2026							2025
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,226,640		$	10,978	3.59	%	$	1,377,966		$	14,773	4.30	%
Loans held for sale⁽¹⁾		40,356			910	9.04	%		15,418			284	7.39	%
Loans^{(1) (2)}		6,888,734			105,448	6.14	%		7,942,333			124,939	6.31	%
Investment securities available-for-sale⁽²⁾		950,891			5,147	2.17	%		1,233,206			6,491	2.11	%
Investment securities held-to-maturity⁽²⁾		830,921			4,096	1.98	%		918,083			4,945	2.16	%
Total interest earning assets		9,937,542			126,579	5.11	%		11,487,006			151,432	5.29	%

Noninterest earning assets		737,466							635,125
Less: allowance for credit losses		(151,328	)						(133,036	)
Total noninterest earning assets		586,138							502,089
Total Assets	$	10,523,680						$	11,989,095

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,447,015		$	9,379	2.60	%	$	1,489,056		$	9,982	2.69	%
Savings and money market		3,194,094			24,139	3.03	%		3,461,918			29,634	3.43	%
Time deposits		2,683,953			28,044	4.19	%		3,367,907			39,296	4.68	%
Total interest bearing deposits		7,325,062			61,562	3.37	%		8,318,881			78,912	3.80	%
Customer repurchase agreements		—			—	—	%		34,387			250	2.92	%
Derivative collateral liability		14,834			60	1.62	%		12,710			118	3.72	%
Other short-term borrowings		60,440			583	3.87	%		245,291			2,360	3.86	%
Long-term borrowings		76,566			2,024	10.60	%		76,236			2,016	10.61	%
Total interest bearing liabilities		7,476,902			64,229	3.45	%		8,687,505			83,656	3.86	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,760,058							1,907,214
Other liabilities		133,356							142,124
Total noninterest bearing liabilities		1,893,414							2,049,338
Shareholders' equity		1,153,364							1,252,252
Total Liabilities and Shareholders’ Equity	$	10,523,680						$	11,989,095
Net interest income				$	62,350						$	67,776
Net interest spread						1.66	%						1.43	%
Net interest margin						2.52	%						2.37	%
Cost of funds						2.79	%						3.17	%

⁽¹⁾	Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.9 million and $3.6 million for the three months ended June 30, 2026 and 2025, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Statements of Operations and Highlights Quarterly Trends (Unaudited)
(Dollars in thousands, except per share data)

	Three Months Ended
	June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
Income Statements:
Total interest income	$	126,579		$	131,901		$	149,526		$	150,103		$	151,443		$	153,878		$	168,417		$	173,813
Total interest expense		64,229			68,207			81,223			81,944			83,667			88,229			97,623			101,970
Net interest income		62,350			63,694			68,303			68,159			67,776			65,649			70,794			71,843
Provision for credit losses		21,448			13,382			15,468			113,215			138,159			26,255			12,132			10,094
Provision (reversal) for credit losses for unfunded commitments		8			(1,779	)		203			(38	)		1,759			(297	)		(1,598	)		(1,593	)
Net interest income after provision for credit losses		40,894			52,091			52,632			(45,018	)		(72,142	)		39,691			60,260			63,342
Noninterest income before investment gain		10,493			12,705			12,183			4,477			8,268			8,203			4,063			6,948
Net gain (loss) on sale of investment securities		266			3			9			(1,982	)		(1,854	)		4			4			3
Total noninterest income		10,759			12,708			12,192			2,495			6,414			8,207			4,067			6,951
Salaries and employee benefits		23,366			23,247			22,661			21,290			21,940			21,968			22,597			21,675
Premises and equipment expenses		2,445			2,533			2,861			2,944			3,019			3,203			2,635			2,794
Marketing and advertising		1,161			868			1,185			1,316			1,144			1,371			1,340			1,588
Legal Contingency		(206	)		—			10,000			—			—			—			—			—
Other expenses		17,262			22,092			33,130			16,347			17,367			18,909			17,960			17,557
Total noninterest expense		44,028			48,740			69,837			41,897			43,470			45,451			44,532			43,614
Income (loss) before income tax expense		7,625			16,059			(5,013	)		(84,420	)		(109,198	)		2,447			19,795			26,679
Income tax expense		707			1,341			(2,574	)		(16,907	)		(39,423	)		772			4,505			4,864
Net income (loss)		6,918			14,718			(2,439	)		(67,513	)		(69,775	)		1,675			15,290			21,815
Per Share Data:
Earnings (loss) per weighted average common share, basic	$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.51		$	0.72
Earnings (loss) per weighted average common share, diluted	$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.50		$	0.72
Weighted average common shares outstanding, basic		30,495,258			30,422,259			30,368,432			30,367,997			30,373,167			30,275,001			30,199,433			30,173,852
Weighted average common shares outstanding, diluted		30,570,105			30,540,379			30,584,374			30,367,997			30,510,847			30,404,262			30,321,644			30,241,699
Actual shares outstanding at period end		30,490,409			30,494,659			30,359,632			30,366,555			30,364,983			30,368,843			30,202,003			30,173,200
Book value per common share at period end	$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.60		$	40.61
Tangible book value per common share at period end⁽¹⁾	$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.59		$	40.61
Dividend per common share	$	0.010		$	0.010		$	0.010		$	0.010		$	0.165		$	0.165		$	0.165		$	0.165
Performance Ratios (annualized):
Return on average assets		0.26	%		0.54	%	(0.08) %			(2.31) %			(2.33) %				0.06	%		0.48	%		0.70	%
Return on average common equity		2.41	%		5.20	%	(0.85) %			(22.66) %			(22.35) %				0.55	%		4.94	%		7.22	%
Return on average tangible common equity⁽¹⁾		2.41	%		5.20	%	(0.85) %			(22.66) %			(22.35) %				0.55	%		4.94	%		7.22	%
Net interest margin		2.52	%		2.47	%		2.38	%		2.43	%		2.37	%		2.28	%		2.29	%		2.37	%
Efficiency ratio⁽²⁾		60.2	%		63.8	%		86.8	%		59.3	%		58.6	%		61.5	%		59.5	%		55.4	%
Other Ratios:
Allowance for credit losses to total loans⁽³⁾		1.83	%		2.12	%		2.19	%		2.14	%		2.38	%		1.63	%		1.44	%		1.40	%
Allowance for credit losses to total non-performing loans		109.01	%		114.29	%		149.31	%		131.67	%		81.17	%		64.59	%		54.81	%		83.25	%
Non-performing assets to total assets		1.17	%		1.31	%		1.04	%		1.23	%		2.16	%		1.79	%		1.90	%		1.22	%
Net charge-offs (recoveries) (annualized) to average total loans⁽³⁾		2.78	%		1.46	%		0.67	%		7.36	%		4.22	%		0.57	%		0.48	%		0.26	%
Tier 1 capital (to average assets)		11.22	%		10.63	%		9.72	%		10.40	%		10.63	%		11.11	%		10.74	%		10.77	%
Total capital (to risk weighted assets)		15.84	%		15.05	%		14.33	%		14.83	%		15.27	%		15.86	%		15.86	%		15.51	%
Common equity tier 1 capital (to risk weighted assets)		14.58	%		13.80	%		13.07	%		13.58	%		14.01	%		14.61	%		14.63	%		14.30	%
Tangible common equity ratio⁽¹⁾		11.91	%		11.51	%		10.78	%		10.39	%		11.18	%		11.00	%		11.02	%		10.86	%
Average Balances (in thousands):
Total assets	$	10,523,680		$	11,029,930		$	11,964,701		$	11,597,399		$	11,989,095		$	12,118,190		$	12,575,722		$	12,360,899
Total earning assets		9,937,542			10,456,689			11,389,162			11,137,543			11,487,006			11,640,162			12,303,940			12,072,891
Total loans⁽³⁾		6,888,734			7,112,483			7,338,320			7,648,459			7,942,333			7,933,695			7,971,907			8,026,524
Total deposits		9,085,120			9,652,007			10,590,252			10,163,215			10,226,095			9,883,233			10,056,463			9,344,414
Total borrowings		137,006			76,483			83,056			131,225			355,914			794,940			1,118,276			1,654,736
Total shareholders' equity		1,153,364			1,147,585			1,140,402			1,182,148			1,252,252			1,242,805			1,230,573			1,201,477

⁽¹⁾	A reconciliation of non-GAAP financial measures to the nearest GAAP measure is provided in the tables that accompany this document.
⁽²⁾	Computed by dividing noninterest expense by the sum of net interest income and noninterest income.
⁽³⁾	Excludes loans held for sale.

GAAP Reconciliation to Non-GAAP Financial Measures (unaudited)
(dollars in thousands, except per share data)

	Three Months Ended
	June 30,			March 31,			June 30,
		2026			2026			2025
Tangible common equity
Common shareholders' equity	$	1,150,506		$	1,145,277		$	1,185,067
Less: Intangible assets		—			—			(9	)
Tangible common equity	$	1,150,506		$	1,145,277		$	1,185,058

Tangible common equity ratio
Total assets	$	9,658,914		$	9,954,281		$	10,601,331
Less: Intangible assets		—			—			(9	)
Tangible assets	$	9,658,914		$	9,954,281		$	10,601,322
Tangible common equity ratio		11.91	%		11.51	%		11.18	%

Per share calculations
Book value per common share	$	37.73		$	37.56		$	39.03
Less: Intangible book value per common share	$	—		$	—		$	—
Tangible book value per common share	$	37.73		$	37.56		$	39.03

Shares outstanding at period end		30,490,409			30,494,659			30,364,983

Average tangible common equity
Average common shareholders' equity	$	1,153,364		$	1,147,585		$	1,252,252
Less: Average intangible assets		—			—			(11	)
Average tangible common equity	$	1,153,364		$	1,147,585		$	1,252,241

Return on average tangible common equity
Net (loss) income	$	6,918		$	14,718		$	(69,775	)
Return on average tangible common equity		2.41	%		5.20	%	(22.35) %

Pre-provision net revenue
Net interest income	$	62,350		$	63,694		$	67,776
Noninterest income		10,759			12,708			6,414
Less: Noninterest expense		(44,028	)		(48,740	)		(43,470	)
Pre-provision net revenue	$	29,081		$	27,662		$	30,720

For the June 30, 2026 Earnings Presentation, click FINAL - 2Q2026 EGBN Earnings DECK.

EAGLE BANCORP, INC.

CONTACT:

Eric R. Newell

240.497.1796

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Date

Price Target

Rating

Analyst

4/15/2026

$32.00

Strong Buy

Raymond James

6/10/2025

$24.00

Neutral → Buy

Janney

5/21/2025

$20.00

Hold

Jefferies

10/21/2024

$27.00

Neutral

Piper Sandler

12/5/2022

$50.00

Neutral

Piper Sandler

Eagle Bancorp, Inc. Announces Second Quarter 2026 Results

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Eagle Bancorp, Inc. Announces Second Quarter 2026 Results

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$EGBN

$EGBN
Insider Purchases

Director Mathews Louis P. Jr. bought $51,060 worth of shares (3,000 units at $17.02), increasing direct ownership by 42% to 10,157 units (SEC Form 4)

Senior EVP, CFO Newell Eric R bought $50,474 worth of shares (3,050 units at $16.55), increasing direct ownership by 10% to 33,615 units (SEC Form 4)

Amendment: Senior EVP, CFO Newell Eric R bought $25,008 worth of shares (1,170 units at $21.37), increasing direct ownership by 4% to 29,489 units (SEC Form 4)

$EGBN
Press Releases