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.

____________________
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.

Second Quarter of 2026 Key Elements

____________________
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

Loans and Funding

Asset Quality

Capital

____________________
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:

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


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