CORRECTION - Eagle Bancorp, Inc. Announces Third Quarter 2025 Results and Cash Dividend

Rhea-AI Summary

Eagle Bancorp (NASDAQ: EGBN) reported an unaudited Q3 2025 net loss of $67.5M or $2.22 per share, an improvement of $2.3M from Q2 driven by a $24.9M decrease in provision expense offset by a $22.5M reduction in tax benefit.

Key metrics: net interest income $68.2M, PPNR $28.8M, provision for credit losses $113.2M, net charge-offs $140.8M, NPAs $133.3M (1.23% of assets), total loans $7.4B, total deposits $9.5B, ACL 2.14% of loans, and CET1 13.58%.

The company declared a $0.01 cash dividend payable Nov 14, 2025 to holders of record on Nov 3, 2025.

Positive

• Nonperforming assets decreased $95.5M to $133.3M
• Total deposits increased 4% quarter-over-quarter to $9.5B
• Provision for credit losses decreased ~18% QoQ to $113.2M
• On-balance sheet liquidity and available capacity of $5.3B (coverage >230%)
• Declared cash dividend of $0.01 per share payable Nov 14, 2025

Negative

• Reported net loss of $67.5M (Q3 2025) or $2.22 per share
• Net charge-offs rose to $140.8M (annualized 7.36% for Q3)
• Noninterest income fell from $6.4M to $2.5M due to loan and investment sale losses
• Total shareholders' equity declined 5.2% ($61.6M) quarter-over-quarter

Insights

Banking Financial Analyst

Eagle reports a large quarterly loss and heavy charge-offs, signaling continued asset quality stress despite some capital and liquidity resilience.

Eagle Bancorp posted a $67.5 million net loss for the quarter ended September 30, 2025, driven by a $140.8 million net charge-off and a $113.2 million provision for credit losses; PPNR declined to $28.8 million and noninterest income fell to $2.5 million, which together left the franchise loss-making this quarter.

The company retains measurable capital and liquidity buffers: common equity and tangible common equity ratios are both 10.39%, CET1 is 13.58%, insured deposits rose to $7.2 billion (representing 75.6% of deposits), and on-balance sheet liquidity and available capacity totaled $5.3 billion. However, asset-quality stress remains material: nonperforming assets were $133.3 million (1.23% of assets), performing office coverage eased to 11.36%, ACL fell to 2.14% of loans, and annualized quarterly net charge-offs jumped to 7.36%.

Key near-term items to watch include the declared cash dividend of $0.01 per share payable on November 14, 2025 to holders of record on November 3, 2025, trends in quarterly net charge-offs and provision levels, and whether nonperforming assets and ACL coverage stabilize over the next one to two quarters. The facts point to a negative near-term impact on earnings and capital trajectory until charge-offs and reserves normalize.

BETHESDA, Md., Oct. 23, 2025 (GLOBE NEWSWIRE) -- In a release issued under the same headline on Wednesday, October 22nd by Eagle Bancorp, Inc. (Nasdaq: EGBN), please note that the links to the conference call were outdated. The corrected release follows:

Eagle Bancorp, Inc. ("Eagle" or the "Company") (NASDAQ: EGBN), the Bethesda-based holding company for EagleBank, one of the largest community banks in the Washington D.C. area, reported its unaudited results for the third quarter ended September 30, 2025.

Eagle reported a net loss of $67.5 million or $2.22 per share for the third quarter 2025, compared to a net loss of $69.8 million or $2.30 per share for the second quarter. The $2.3 million improvement in the net loss from the prior quarter is primarily due to a $24.9 million decrease in provision expense, offset by a $22.5 million reduction in the tax benefit. In the quarter, net interest income increased $383 thousand, noninterest income decreased $3.9 million, and noninterest expenses decreased $1.6 million.

Pre-provision net revenue ("PPNR")¹ in the third quarter was $28.8 million compared to $30.7 million for the prior quarter. The decrease is primarily due to a $3.6 million loss on sale of loans in the third quarter.

"We continued to execute our strategy to resolve asset quality challenges within the loan portfolio," said Susan G. Riel, Chair, President, and Chief Executive Officer of the Company. "The credit costs recognized this quarter reflect our commitment to managing credit risk with discipline and accountability. Following an independent review of our loan portfolio and expanded supplemental internal analysis, we took actions to reduce valuation risk in the office portfolio."

Ms. Riel added, “The core franchise remains sound and resilient. Our capital, liquidity, and customer relationships continue to provide a strong foundation as we move through this cycle and toward a more normalized earnings environment.”

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on November 14, 2025 to shareholders of record on November 3, 2025.

Third Quarter of 2025 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 $105 million and average C&I deposits increased $134 million, or 8.6% from the previous quarter.
• The ACL as a percentage of total loans was 2.14% at quarter-end; down from 2.38% at the prior quarter-end. Performing office coverage² was 11.36% at quarter-end; as compared to 11.54% at the prior quarter-end.
• Nonperforming assets decreased by $95.5 million to $133.3 million as of September 30, 2025, representing 1.23% of total assets, compared to $228.9 million, representing 2.16% of total loans as of June 30, 2025. During the quarter, nonperforming loan inflows totaled $211.8 million. Reductions of $319.6 million reflected charge-offs, loans moved to held for sale, and paydowns.
• Substandard and special mention loans totaled $958.5 million at September 30, 2025, compared to $875.4 million in the prior quarter.
• Annualized quarterly net charge-offs for the third quarter of 2025 were 7.36% compared to 4.22% for the second quarter of 2025.
• The net interest margin ("NIM") increased to 2.43% for the third quarter of 2025, compared to 2.37% for the prior quarter, primarily driven by the reduction in interest earning assets associated with a decline in nonaccrual loan balances in the CRE loan portfolio.
• At quarter-end, the common equity ratio, tangible common equity ratio¹, and common equity tier 1 capital (to risk-weighted assets) ratio were 10.39%, 10.39%, and 13.58%, respectively.
• Total estimated insured deposits increased at quarter-end to $7.2 billion, representing 75.6% of deposits, compared to $6.8 billion, or 75.0% in the prior quarter.
• Total on-balance sheet liquidity and available capacity was $5.3 billion, compared to $2.3 billion in uninsured deposits, resulting in a coverage ratio of over 230%.
  
  

Income Statement

• Net interest income was $68.2 million for the third quarter of 2025, compared to $67.8 million for the prior quarter. The increase in net interest income for the quarter was primarily driven by lower funding costs on brokered time deposits and a reduction in average short-term borrowings, which outpaced lower interest income on loans. Both interest income and interest expense declined during the quarter, reflecting the impact of lower market rates and declining average balances.
• Provision for credit losses was $113.2 million for the third quarter of 2025, compared to $138.2 million for the prior quarter. The decrease was primarily driven by lower office-related reserves. Net charge-offs totaled $140.8 million, up from $83.9 million in the second quarter. The provision related to the reserve for unfunded commitments resulting in a reversal of $38 thousand, compared to a provision of $1.8 million in the prior quarter, primarily driven by changes in the economic forecast associated with our quantitative model, offset by slightly higher commitments.
• Noninterest income was $2.5 million for the third quarter of 2025, compared to $6.4 million for the prior quarter. The decline was primarily driven by a $3.6 million loss on the sale of two loans and a $2.0 million loss on the sale of investment securities executed to reposition the investment portfolio and reduce higher-cost brokered funding.
• Noninterest expense was $41.9 million for the third quarter of 2025, compared to $43.5 million for the prior quarter. The decrease over the linked quarter was primarily due to decreases in the FDIC assessment as the funding profile of the Bank has improved driving assessment costs down.
  
  

Loans and Funding

• Total loans, including loans held for sale, were $7.4 billion at September 30, 2025, down 4% 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 $9.5 billion, up $0.3 billion, or 4%, from the prior quarter-end. The increase was primarily driven by higher balances in money market accounts offset by lower balances in brokered time deposit accounts. Deposits increased $0.9 billion compared to September 30, 2024.
• Other short-term borrowings were zero at September 30, 2025, compared to $50.0 million at June 30, 2025 as FHLB borrowings were repaid with excess cash from core deposit growth and sale of investment securities.
  
  

Asset Quality

• Allowance for credit losses was 2.14% of total loans held for investment at September 30, 2025, compared to 2.38% at the prior quarter-end. Performing office coverage was 11.36% at quarter-end; as compared to 11.54% at the prior quarter-end.
• Net charge-offs were $140.8 million for the quarter compared to $83.9 million in the second quarter of 2025.
• Nonperforming assets were $133.3 million at September 30, 2025.
  • NPAs as a percentage of assets were 1.23% at September 30, 2025, compared to 2.16% at the prior quarter-end. At September 30, 2025, other real estate owned consisted of 6 properties with an aggregate carrying value of $14.7 million.
  • Loans 30-89 days past due were $29.1 million at September 30, 2025, compared to $34.7 million at the prior quarter-end.
    
    

Capital

• Total shareholders' equity was $1.1 billion at September 30, 2025, down 5.2% from the prior quarter-end. The decrease in shareholders' equity of $61.6 million was primarily due to quarterly losses that reduced capital.
• Book value per share and tangible book value per share³ were $37.00 and $37.00, down 5.2% from the prior quarter-end.
  
  

Additional financial information: The financial information that follows provides more detail on the Company's financial performance for the three months ended September 30, 2025 as compared to the three months ended June 30, 2025 and September 30, 2024, 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, 2024, 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 third quarter of 2025 financial results on Thursday, October 23, 2025 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

• https://edge.media-server.com/mmc/p/hny558ex/
• For analysts who wish to participate in the conference call, please register at the following URL:
  https://register-conf.media-server.com/register/BIf842a6cf091b4816a0035fefea8f1724
  

• A replay of the conference call will be available on the Company's website through 11/06/2025: 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, 2024 and in other periodic and current reports filed with the SEC, including the Company's Quarterly Reports on Form 10-Q for the first and second quarters. 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
	September 30,				June 30,				September 30,
		2025				2025				2024
Interest Income
Interest and fees on loans	$	123,704			$	125,223			$	139,836
Interest and dividends on investment securities		10,527				11,436				12,578
Interest on balances with other banks and short-term investments		15,850				14,760				21,296
Interest on federal funds sold		22				24				103
Total interest income		150,103				151,443				173,813
Interest Expense
Interest on deposits		79,385				78,912				81,190
Interest on customer repurchase agreements		202				250				332
Interest on other short-term borrowings		332				2,489				20,448
Interest on long-term borrowings		2,025				2,016				—
Total interest expense		81,944				83,667				101,970
Net Interest Income		68,159				67,776				71,843
Provision for Credit Losses		113,215				138,159				10,094
Provision (Reversal) for Credit Losses for Unfunded Commitments		(38	)			1,759				(1,593	)
Net Interest Income After Provision for Credit Losses		(45,018	)			(72,142	)			63,342
Noninterest Income
Service charges on deposits		1,773				1,771				1,747
Gain (loss) on sale of loans		(3,550	)			—				20
Net gain (loss) on sale of investment securities		(1,982	)			(1,854	)			3
Increase in cash surrender value of bank-owned life insurance		5,293				5,161				731
Other income		961				1,336				4,450
Total noninterest income		2,495				6,414				6,951
Noninterest Expense
Salaries and employee benefits		21,290				21,940				21,675
Premises and equipment expenses		2,944				3,019				2,794
Marketing and advertising		1,316				1,144				1,588
Data processing		3,950				4,293				3,435
Legal, accounting and professional fees		2,396				1,550				3,433
FDIC insurance		6,665				8,077				7,399
Other expenses		3,336				3,447				3,290
Total noninterest expense		41,897				43,470				43,614
Income (Loss) Before Income Tax Expense		(84,420	)			(109,198	)			26,679
Income Tax Expense		(16,907	)			(39,423	)			4,864
Net (Loss) Income	$	(67,513	)		$	(69,775	)		$	21,815
(Loss) Earnings Per Common Share
Basic	$	(2.22	)		$	(2.30	)		$	0.72
Diluted	$	(2.22	)		$	(2.30	)		$	0.72

        

Eagle Bancorp, Inc.
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share data)
	September 30,				June 30,				September 30,
		2025				2025				2024
Assets
Cash and due from banks	$	7,938			$	14,005			$	16,383
Federal funds sold		1,457				4,091				9,610
Interest-bearing deposits with banks and other short-term investments		841,372				239,237				584,491
Investment securities available-for-sale at fair value (amortized cost of $1,161,644, $1,271,179, and $1,550,038 respectively, and allowance for credit losses of $—, $—, and $17, respectively)		1,073,412				1,170,489				1,433,006
Investment securities held-to-maturity at amortized cost, net of allowance for credit losses of $1,199, $1,229, and $1,237 respectively (fair value of $786,662, $799,136, and $868,425 respectively)		872,418				896,855				961,925
Federal Reserve and Federal Home Loan Bank stock		28,306				30,613				37,728
Loans held for sale		136,506				37,576				—
Loans		7,304,679				7,721,664				7,970,269
Less: allowance for credit losses		(156,228	)			(183,796	)			(111,867	)
Loans, net		7,148,451				7,537,868				7,858,402
Premises and equipment, net		10,503				7,103				8,291
Operating lease right-of-use assets		29,791				31,202				15,167
Deferred income taxes		77,362				80,731				74,381
Bank-owned life insurance		330,426				325,174				115,064
Other real estate owned		14,684				2,459				2,743
Other assets		242,876				223,928				167,861
Total Assets	$	10,815,502			$	10,601,331			$	11,285,052
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing demand	$	1,577,197			$	1,532,132			$	1,609,823
Interest-bearing transaction		932,500				895,604				903,300
Savings and money market		3,702,579				3,267,630				3,316,819
Time deposits		3,251,283				3,424,241				2,710,908
Total deposits		9,463,559				9,119,607				8,540,850
Customer repurchase agreements		13,725				23,442				32,040
Other short-term borrowings		—				50,000				1,240,000
Long-term borrowings		76,346				76,264				75,812
Operating lease liabilities		36,278				37,297				18,755
Reserve for unfunded commitments		4,886				4,925				5,060
Other liabilities		97,232				104,729				147,111
Total Liabilities		9,692,026				9,416,264				10,059,628
Shareholders' Equity
Common stock, par value $0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,366,555, 30,364,983, and 30,173,200 respectively		300				300				298
Additional paid-in capital		389,305				388,927				382,284
Retained earnings		831,685				904,205				967,019
Accumulated other comprehensive loss		(97,814	)			(108,365	)			(124,177	)
Total Shareholders' Equity		1,123,476				1,185,067				1,225,424
Total Liabilities and Shareholders' Equity	$	10,815,502			$	10,601,331			$	11,285,052

Loan Mix and Asset Quality (Dollars in thousands)
	September 30,					June 30,					September 30,
		2025					2025					2024
	Amount		%			Amount		%			Amount		%
Loan Balances - Period End:
Commercial	$	1,217,805	17	%		$	1,207,512	15	%		$	1,154,349	14	%
PPP loans		103	—	%			164	—	%		$	348	—	%
Income producing - commercial real estate		3,453,033	47	%			3,768,884	48	%		$	4,155,120	52	%
Owner occupied - commercial real estate		1,494,711	20	%			1,365,901	18	%		$	1,276,240	16	%
Real estate mortgage - residential		44,684	1	%			45,921	1	%		$	57,223	1	%
Construction - commercial and residential		1,010,367	14	%			1,211,728	16	%		$	1,174,591	15	%
Construction - C&I (owner occupied)		33,378	—	%			69,554	1	%		$	100,662	1	%
Home equity		49,333	1	%			49,224	1	%		$	51,567	1	%
Other consumer		1,265	—	%			2,776	—	%		$	169	—	%
Total loans	$	7,304,679	100	%		$	7,721,664	100	%		$	7,970,269	100	%

	Three Months Ended or As Of
	September 30,				June 30,				September 30,
		2025				2025				2024
Asset Quality:
Nonperforming loans	$	118,647			$	226,420			$	134,371
Other real estate owned		14,684				2,459				2,743
Nonperforming assets	$	133,331			$	228,879			$	137,114
Net charge-offs	$	140,813			$	83,877			$	5,303
Special mention	$	423,685			$	173,311			$	364,983
Substandard	$	534,789			$	702,128			$	391,301

Consolidated Average Balances, Interest Yields And Rates vs. Prior Quarter (Unaudited)
(Dollars in thousands)
	Three Months Ended
	September 30, 2025										June 30, 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	$	1,447,944			$	15,952		4.37	%		$	1,375,782			$	14,749		4.30	%
Loans held for sale(1)		19,441				389		7.94	%			15,418				284		7.39	%
Loans(1) (2)		7,648,459				123,315		6.40	%			7,942,333				124,939		6.31	%
Investment securities available-for-sale(2)		1,134,993				5,866		2.05	%			1,233,206				6,491		2.11	%
Investment securities held-to-maturity(2)		884,779				4,661		2.09	%			918,083				4,945		2.16	%
Federal funds sold		1,927				22		4.53	%			2,184				24		4.41	%
Total interest earning assets		11,137,543				150,205		5.35	%			11,487,006				151,432		5.29	%
Noninterest earning assets		658,014										635,125
Less: allowance for credit losses		(198,158	)									(133,036	)
Total noninterest earning assets		459,856										502,089
TOTAL ASSETS	$	11,597,399									$	11,989,095
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest bearing liabilities:
Interest-bearing transaction	$	1,391,316			$	10,824		3.09	%		$	1,489,056			$	9,982		2.69	%
Savings and money market		3,576,595				30,875		3.42	%			3,461,918				29,634		3.43	%
Time deposits		3,312,333				37,686		4.51	%			3,367,907				39,296		4.68	%
Total interest bearing deposits		8,280,244				79,385		3.80	%			8,318,881				78,912		3.80	%
Customer repurchase agreements		25,557				202	​	3.14	%			34,387				250	​	2.92	%
Derivative collateral liability		9,225				102		4.39	%			12,710				118		3.72	%
Other short-term borrowings		29,350				332	​	4.49	%			245,291				2,360		3.86	%
Long-term borrowings		76,318				2,024		10.52	%			76,236				2,016		10.61	%
Total interest bearing liabilities		8,420,694				82,045		3.87	%			8,687,505				83,656		3.86	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,882,971										1,907,214
Other liabilities		111,586										142,124
Total noninterest bearing liabilities		1,994,557										2,049,338
Shareholders' equity		1,182,148										1,252,252
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	11,597,399									$	11,989,095
Net interest income					$	68,160									$	67,776
Net interest spread								1.48	%									1.43	%
Net interest margin								2.43	%									2.37	%
Cost of funds								3.16	%									3.17	%

(1)	Loans placed on nonaccrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.7 million and $3.6 million for the three months ended September 30, 2025 and June 30, 2025, 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 September 30,
		2025										2024
	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	$	1,447,944			$	15,952		4.37	%		$	1,577,464			$	21,296		5.37	%
Loans held for sale(1)		19,441				389		7.94	%			4,936				1		0.08	%
Loans(1) (2)		7,648,459				123,315		6.40	%			8,026,524				139,835		6.93	%
Investment securities available-for-sale(2)		1,134,993				5,866		2.05	%			1,479,598				7,336		1.97	%
Investment securities held-to-maturity(2)		884,779				4,661		2.09	%			974,366				5,242		2.14	%
Federal funds sold		1,927				22		4.53	%			10,003				103		4.10	%
Total interest earning assets		11,137,543				150,205		5.35	%			12,072,891				173,813		5.73	%
Noninterest earning assets		658,014										397,007
Less: allowance for credit losses		(198,158	)									(108,998	)
Total noninterest earning assets		459,856										288,009
TOTAL ASSETS	$	11,597,399									$	12,360,900
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest bearing liabilities:
Interest-bearing transaction	$	1,391,316			$	10,824		3.09	%		$	1,656,676			$	14,596		3.51	%
Savings and money market		3,576,595				30,875		3.42	%			3,254,128				34,896		4.27	%
Time deposits		3,312,333				37,686		4.51	%			2,517,944				31,698		5.01	%
Total interest bearing deposits		8,280,244				79,385		3.80	%			7,428,748				81,190		4.35	%
Customer repurchase agreements		25,557				202	​	3.14	%			38,045				332		3.47	%
Derivative collateral liability		9,225				102		4.39	%			—				—		—	%
Other short-term borrowings		29,350				332		4.49	%			1,615,867				20,448		5.03	%
Long-term borrowings		76,318				2,024		10.52	%			824				—		—	%
Total interest bearing liabilities		8,420,694				82,045		3.87	%			9,083,484				101,970		4.47	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,882,971										1,915,666
Other liabilities		111,586										160,272
Total noninterest bearing liabilities		1,994,557										2,075,938
Shareholders' equity		1,182,148										1,201,477
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	11,597,399									$	12,360,899
Net interest income					$	68,160									$	71,843
Net interest spread								1.48	%									1.26	%
Net interest margin								2.43	%									2.37	%
Cost of funds								3.16	%									3.69	%

(1)	Loans placed on nonaccrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.7 million and $3.9 million for the three months ended September 30, 2025 and 2024, 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
		September 30, 2025				June 30, 2025				March 31, 2025				December 31, 2024				September 30, 2024				June 30, 2024				March 31, 2024				December 31, 2023
Income Statements:
Total interest income		$	150,103			$	151,443			$	153,878			$	168,417			$	173,813			$	169,731			$	175,602			$	167,421
Total interest expense			81,944				83,667				88,229				97,623				101,970				98,378				100,904				94,429
Net interest income			68,159				67,776				65,649				70,794				71,843				71,353				74,698				72,992
Provision for credit losses			113,215				138,159				26,255				12,132				10,094				8,959				35,175				14,490
Provision (reversal) for credit losses for unfunded commitments			(38	)			1,759				(297	)			(1,598	)			(1,593	)			608				456				(594	)
Net interest income after provision for credit losses			(45,018	)			(72,142	)			39,691				60,260				63,342				61,786				39,067				59,096
Noninterest income before investment gain			4,477				8,268				8,203				4,063				6,948				5,329				3,585				2,891
Net gain on sale of investment securities			(1,982	)			(1,854	)			4				4				3				3				4				3
Total noninterest income			2,495				6,414				8,207				4,067				6,951				5,332				3,589				2,894
Salaries and employee benefits			21,290				21,940				21,968				22,597				21,675				21,770				21,726				18,416
Premises and equipment expenses			2,944				3,019				3,203				2,635				2,794				2,894				3,059				2,967
Marketing and advertising			1,316				1,144				1,371				1,340				1,588				1,662				859				1,071
Goodwill impairment			—				—				—				—				—				104,168				—				—
Other expenses			16,347				17,367				18,909				17,960				17,557				15,997				14,353				14,644
Total noninterest expense			41,897				43,470				45,451				44,532				43,614				146,491				39,997				37,098
(Loss) income before income tax expense			(84,420	)			(109,198	)			2,447				19,795				26,679				(79,373	)			2,659				24,892
Income tax expense			(16,907	)			(39,423	)			772				4,505				4,864				4,429				2,997				4,667
Net (loss) income			(67,513	)			(69,775	)			1,675				15,290				21,815				(83,802	)			(338	)			20,225
Per Share Data:
(Loss) earnings per weighted average common share, basic		$	(2.22	)		$	(2.30	)		$	0.06			$	0.51			$	0.72			$	(2.78	)		$	(0.01	)		$	0.68
(Loss) earnings per weighted average common share, diluted		$	(2.22	)		$	(2.30	)		$	0.06			$	0.50			$	0.72			$	(2.78	)		$	(0.01	)		$	0.67
Weighted average common shares outstanding, basic			30,367,997				30,373,167				30,275,001				30,199,433				30,173,852				30,185,609				30,068,173				29,925,557
Weighted average common shares outstanding, diluted			30,367,997				30,510,847				30,404,262				30,321,644				30,241,699				30,185,609				30,068,173				29,966,962
Actual shares outstanding at period end			30,366,555				30,364,983				30,368,843				30,202,003				30,173,200				30,180,482				30,185,732				29,925,612
Book value per common share at period end		$	37.00			$	39.03			$	40.99			$	40.60			$	40.61			$	38.75			$	41.72			$	42.58
Tangible book value per common share at period end(1)		$	37.00			$	39.03			$	40.99			$	40.59			$	40.61			$	38.74			$	38.26			$	39.08
Dividend per common share		$	0.010			$	0.165			$	0.165			$	—			$	0.165			$	0.45			$	0.45			$	0.45
Performance Ratios (annualized):
Return on average assets		(2.31		)%		(2.33		)%			0.06	%			0.48	%			0.70	%		(2.73		)%		(0.01		)%			0.65	%
Return on average common equity		(22.66		)%		(22.35		)%			0.55	%			4.94	%			7.22	%		(26.67		)%		(0.11		)%			6.48	%
Return on average tangible common equity(1)		(22.66		)%		(22.35		)%			0.55	%			4.94	%			7.22	%		(28.96		)%		(0.11		)%			7.08	%
Net interest margin			2.43	%			2.37	%			2.28	%			2.29	%			2.37	%			2.40	%			2.43	%			2.45	%
Efficiency ratio(1)(2)			59.30	%			58.60	%			61.50	%			59.50	%			55.40	%			191.00	%			51.10	%			48.90	%
Other Ratios:
Allowance for credit losses to total loans(3)			2.14	%			2.38	%			1.63	%			1.44	%			1.40	%			1.33	%			1.25	%			1.08	%
Allowance for credit losses to total nonperforming loans			131.67	%			81.17	%			64.59	%			54.81	%			83.25	%			110.06	%			108.76	%			131.16	%
Nonperforming assets to total assets			1.23	%			2.16	%			1.79	%			1.90	%			1.22	%			0.88	%			0.79	%			0.57	%
Net charge-offs (recoveries) (annualized) to average total loans(3)			7.36	%			4.22	%			0.57	%			0.48	%			0.26	%			0.11	%			1.07	%			0.60	%
Tier 1 capital (to average assets)			10.40	%			10.63	%			11.11	%			10.74	%			10.77	%			10.58	%			10.26	%			10.73	%
Total capital (to risk weighted assets)			14.83	%			15.27	%			15.86	%			15.86	%			15.51	%			15.07	%			14.87	%			14.79	%
Common equity tier 1 capital (to risk weighted assets)			13.58	%			14.01	%			14.61	%			14.63	%			14.30	%			13.92	%			13.80	%			13.90	%
Tangible common equity ratio(1)			10.39	%			11.18	%			11.00	%			11.02	%			10.86	%			10.35	%			10.03	%			10.12	%
Average Balances (in thousands):
Total assets		$	11,597,399			$	11,989,095			$	12,118,190			$	12,575,722			$	12,360,899			$	12,361,500			$	12,784,470			$	12,283,303
Total earning assets		$	11,137,543			$	11,487,006			$	11,640,162			$	12,303,940			$	12,072,891			$	11,953,446			$	12,365,497			$	11,837,722
Total loans(2)		$	7,648,459			$	7,942,333			$	7,933,695			$	7,971,907			$	8,026,524			$	8,003,206			$	7,988,941			$	7,963,074
Total deposits		$	10,163,215			$	10,226,095			$	9,883,233			$	10,056,463			$	9,344,414			$	9,225,266			$	9,501,661			$	9,471,369
Total borrowings		$	131,225			$	355,914			$	794,940			$	1,118,276			$	1,654,736			$	1,721,283			$	1,832,947			$	1,401,917
Total shareholders' equity		$	1,182,148			$	1,252,252			$	1,242,805			$	1,230,573			$	1,201,477			$	1,263,627			$	1,289,656			$	1,238,763

(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
	September 30,				June 30,				September 30,
	2025				2025				2024
Tangible common equity
Common shareholders' equity	$	1,123,476			$	1,185,067			$	1,225,424
Less: Intangible assets		—				(9	)			(21	)
Tangible common equity	$	1,123,476			$	1,185,058			$	1,225,403
Tangible common equity ratio
Total assets	$	10,815,502			$	10,601,331			$	11,285,052
Less: Intangible assets		—				(9	)			(21	)
Tangible assets	$	10,815,502			$	10,601,322			$	11,285,031
Tangible common equity ratio		10.39	%			11.18	%			10.86	%
Per share calculations
Book value per common share	$	37.00			$	39.03			$	40.61
Less: Intangible book value per common share	$	—			$	—			$	—
Tangible book value per common share	$	37.00			$	39.03			$	40.61
Shares outstanding at period end		30,366,555				30,364,983				30,173,200

Average tangible common equity
Average common shareholders' equity		$	1,182,148			$	1,252,252			$	1,201,477
Less: Average intangible assets			—				(11	)			(24	)
Average tangible common equity		$	1,182,148			$	1,252,241			$	1,201,453
Return on average tangible common equity
Net (loss) income		$	(67,513	)		$	(69,775	)		$	21,815
Return on average tangible common equity		(22.66		)%		(22.35		)%			7.22	%
Efficiency ratio
Net interest income		$	68,159			$	67,776			$	71,843
Noninterest income			2,495				6,414				6,951
Operating revenue		$	70,654			$	74,190			$	78,794
Noninterest expense		$	41,897			$	43,470			$	43,614
Efficiency ratio			59.30	%			58.59	%			55.35	%
Pre-provision net revenue
Net interest income		$	68,159			$	67,776			$	71,843
Noninterest income			2,495				6,414				6,951
Less: Noninterest expense			(41,897	)			(43,470	)			(43,614	)
Pre-provision net revenue		$	28,757			$	30,720			$	35,180

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.

The efficiency ratio is a non-GAAP measure calculated by dividing GAAP noninterest expense by the sum of GAAP net interest income and GAAP noninterest income. The efficiency ratio measures a bank's overhead as a percentage of its revenue. The Company believes that reporting the non-GAAP efficiency ratio more closely measures its effectiveness of controlling operational activities.

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.

________________________
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.
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 loans.
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.

EAGLE BANCORP, INC.
CONTACT:
Eric R. Newell
240.497.1796

For the September 30, 2025 Earnings Presentation, click 2025 EGBN Earnings DECK 9-30-2025 FINAL. 

FAQ

What was Eagle Bancorp's (EGBN) net loss per share in Q3 2025?

Eagle reported a Q3 2025 net loss of $2.22 per share (total net loss $67.5M).

When is the EGBN cash dividend payable and who is eligible?

The declared $0.01 per share cash dividend is payable Nov 14, 2025 to shareholders of record on Nov 3, 2025.

How did Eagle Bancorp's loan losses and charge-offs change in Q3 2025?

Net charge-offs increased to $140.8M in Q3 2025, compared to $83.9M in Q2 2025 (annualized 7.36% for the quarter).

What happened to Eagle Bancorp's nonperforming assets and ACL in Q3 2025?

Nonperforming assets decreased by $95.5M to $133.3M and the allowance for credit losses was 2.14% of total loans at Sept 30, 2025.

Did Eagle Bancorp's deposits or liquidity change in Q3 2025?

Total deposits rose 4% QoQ to $9.5B, and on-balance sheet liquidity and available capacity was $5.3B (coverage over 230%).

What drove the decline in Eagle Bancorp's noninterest income in Q3 2025?

Noninterest income declined to $2.5M largely due to a $3.6M loss on sale of two loans and a $2.0M loss on sale of investment securities.