Eagle Bancorp, Inc. Announces Third Quarter 2026 Results

Q: What were Eagle Bancorp's third-quarter 2026 earnings?

Eagle Bancorp reported $24.2 million in net income and $0.79 in diluted earnings per share for the quarter ended September 30, 2026. Second-quarter net income was $6.9 million, or $0.23 per share. Lower credit-loss provisions primarily drove the sequential increase.

Q: When will Eagle Bancorp pay its announced dividend?

Eagle Bancorp's $0.01-per-share cash dividend is payable November 17, 2026, to shareholders of record on November 6, 2026.

Q: What were Eagle Bancorp's loan-loss reserve coverage ratios at September 30, 2026?

The allowance for credit losses was 1.84% of loans held for investment, versus 1.83% at the prior quarter-end. Coverage of performing office loans—the related allowance divided by those loans—fell to 4.86% from 7.22%, as the office portfolio decreased and asset quality indicators improved.

Lower credit-loss provisions supported earnings, while nonperforming assets increased and pre-provision net revenue declined.

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Rhea-AI Summary

Eagle Bancorp (NASDAQ: EGBN) reported third-quarter 2026 net income of $24.2 million, with lower credit-loss provisions driving the sequential improvement. Diluted earnings were $0.79 per share, versus $0.23 in the second quarter. The credit-loss provision fell to $2.8 million from $21.4 million.

Operating results weakened: net interest income fell to $61.3 million from $62.4 million, and noninterest expense rose to $47.1 million from $44.0 million. Non-GAAP pre-provision net revenue declined to $23.8 million from $29.1 million. Net interest margin improved to 2.60% from 2.52%.

Nonperforming assets rose to $166.0 million from $113.1 million, while net charge-offs fell to $4.2 million from $47.9 million. Loans declined 1.4% and deposits fell 1.8% from the prior quarter-end. A $0.01-per-share dividend is payable November 17, 2026, to shareholders of record November 6.

17 points · 0 major

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0 major · 9 points

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Positive

Moderate pointThird-quarter net income of $24.2 million compared with $6.9 million in the second quarter and a $67.5 million year-earlier loss.
Moderate pointCredit-loss provision fell to $2.8 million from $21.4 million in the prior quarter.
Moderate pointNet charge-offs fell to $4.2 million from $47.9 million; annualized quarterly charge-offs declined to 0.25% from 2.78%.
Moderate pointSubstandard and special mention loans, including loans held for sale, declined to $648.4 million from $759.6 million sequentially.
Moderate pointCommercial and industrial loans, including owner-occupied loans, grew $536.5 million, or 19.54%, year over year.
Moderate pointCommercial real estate concentration declined to 245.8% from 267.6%; acquisition, development and construction concentration fell to 62.2% from 66.2%.
Moderate pointBrokered deposits declined $348.0 million quarter over quarter, reducing reliance on this funding source.
Moderate pointOther short-term borrowings fell to zero from $100.0 million at June 30, 2026.

9 minor points

Minor pointDiluted earnings of $0.79 per share compared with $0.23 sequentially and a $2.22 year-earlier loss.
Minor pointNet interest margin increased to 2.60% from 2.52% in the prior quarter as funding mix improved.
Minor pointLoans 30–89 days past due fell to $357.0 thousand from $44.1 million at the prior quarter-end.
Minor pointCommercial and industrial deposits grew $111.1 million, or 6.43%, year over year.
Minor pointIncome tax benefit was $3.3 million versus a $0.7 million prior-quarter expense, primarily reflecting a state tax refund.
Minor pointShareholders' equity increased 0.7% to $1.2 billion from the prior quarter-end.
Minor pointBook value and tangible book value per share reached $38.00, each increasing 0.7% sequentially.
Minor pointOther real estate owned fell to zero from $2.0 million at the prior quarter-end.
Minor pointBaltimore commercial banking presence established, expanding Eagle's market coverage.

Negative

Moderate pointNonperforming assets increased $52.9 million to $166.0 million, or 1.75% of assets versus 1.17% sequentially.
Moderate pointNonperforming loan inflows totaled $73.7 million; 76.0% resulted from a single loan migration.
Moderate pointPre-provision net revenue, a non-GAAP measure, declined to $23.8 million from $29.1 million in the prior quarter.
Moderate pointNet interest income declined to $61.3 million from $62.4 million sequentially and $68.2 million a year earlier.
Moderate pointNoninterest income declined to $9.6 million from $10.8 million sequentially, including no loan-sale gains versus $2.3 million.
Moderate pointNoninterest expense increased to $47.1 million from $44.0 million sequentially and $41.9 million a year earlier.
Moderate pointTotal loans, including loans held for sale, declined 1.4% sequentially to $6.6 billion.
Moderate pointTotal deposits fell $151.1 million, or 1.8%, sequentially to $8.0 billion, down $1.4 billion year over year.
Minor pointHigher unrealized losses on available-for-sale investment securities partially offset the quarterly increase in shareholders' equity.

News Explained

For the quarter ended September 30, 2026, nonperforming-loan inflows totaled $73.7 million, with 76.0% from one loan migration; $18.8 million of reductions mainly reflected payoffs and collateral liquidations.

Key Figures

Net income: $24.2 million Earnings per share: $0.79 per share Provision for credit losses: $2.8 million +5 more

Net income: $24.2 million; Q3 2026; compared with $6.9 million in Q2 2026
Earnings per share: $0.79 per share; Q3 2026; compared with $0.23 per share in Q2 2026
Provision for credit losses: $2.8 million; Q3 2026; compared with $21.4 million in Q2 2026
Pre-provision net revenue: $23.8 million; Q3 2026; compared with $29.1 million in Q2 2026
Cash dividend: $0.01 per share; Payable November 17, 2026, to shareholders of record November 6, 2026
Non-performing assets: $166.0 million; 1.75% of total assets; September 30, 2026; compared with $113.1 million and 1.17% at June 30, 2026
Annualized quarterly net charge-offs: 0.25%; Q3 2026; compared with 2.78% in Q2 2026
Net interest margin: 2.60%; Q3 2026; compared with 2.52% in Q2 2026

Previous Earnings Reports

1 past event · Latest: Jul 22

Same Type 1 event

Jul 22
Quarterly earnings

24h Move

+2.5%

Q2 net income was $6.9 million as provision for credit losses rose to $21.4 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

pre-provision net revenue, net interest margin, allowance for credit losses, common equity tier 1 capital, +1 more

5 terms

pre-provision net revenue financial

"Pre-provision net revenue ("PPNR") declined in the third quarter"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

net interest margin financial

"The net interest margin ("NIM") increased to 2.60%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses financial

"Allowance for credit losses was 1.84% of total loans held for investment"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

common equity tier 1 capital financial

"common equity tier 1 capital (to risk-weighted assets) ratio"

Core capital a bank holds consisting mainly of common shares and retained profits that can absorb losses without forcing the bank to sell assets or seek emergency help; items that can’t reliably cover losses are excluded. Think of it as the bank’s shock-absorbing cushion: a higher common equity tier 1 (CET1) level and ratio means regulators and investors view the bank as better able to survive bad loans or market shocks, so it signals lower risk to shareholders and creditors.

brokered deposits financial

"reduced brokered deposit usage lowered cost of funds"

Brokered deposits are large sums of customer cash placed at a bank through a third-party intermediary that shops around for the best interest rate, like a broker assembling a big bucket of savings and directing it to a bank. They matter to investors because they can quickly change a bank’s funding level and cost — providing fast liquidity but also adding volatility and regulatory scrutiny that can affect a bank’s stability and profitability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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10/21/2026 - 04:15 PM EDT

BETHESDA, Md., Oct. 21, 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 third quarter ended September 30, 2026.

Eagle reported net income of $24.2 million or $0.79 per share for the third quarter 2026, compared to $6.9 million or $0.23 per share for the second quarter of 2026. This $17.3 million increase in net income is primarily due to a $18.6 million lower provision for credit losses, compared to the prior quarter. In the third quarter, net interest income decreased $1.0 million, noninterest income decreased $1.2 million, while noninterest expense increased $3.1 million.

Pre-provision net revenue ("PPNR")¹ declined in the third quarter to $23.8 million compared to $29.1 million for the prior quarter reflecting higher noninterest expense, lower noninterest income, and slightly lower net interest income.

"This quarter provides tangible evidence of progress in executing on our strategy. Criticized and classified loans declined, net charge-offs moderated significantly, funding costs improved, and total commercial deposits grew sequentially. We also recognize that the increase in nonperforming assets, driven primarily by one significant relationship, means our asset quality work is not complete. We remain focused on resolving problem assets, strengthening relationship-based funding, and translating the capabilities of this franchise into consistent, profitable growth," said Steve Curley, President and Chief Executive Officer of the Company.

Curley continued, “We also took important steps to strengthen Eagle’s growth capabilities by establishing a commercial banking presence in Baltimore, adding experienced leaders to our commercial real estate business, and appointing a new Chief People Officer. We are bringing together the talent, market coverage, and organizational leadership needed to support disciplined, profitable growth.”

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 17, 2026 to shareholders of record on November 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.

Third 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 $536.5 million, or 19.54%, year-over-year, and period end C&I deposit growth totaled $111.1 million, or 6.43%. The growth in deposits reflects the continued development of our banking relationships and supports our focus on relationship-based banking.
As of the current quarter-end, the Company's CRE concentration ratio was 245.8% compared to 267.6% the prior quarter. ADC concentration was 62.2% compared to 66.2% in the prior quarter. These reductions reflect continued portfolio diversification and position the Company to pursue growth opportunities from a position of strength.
The ACL as a percentage of total loans was 1.84% at quarter-end; up from 1.83% at the prior quarter-end as specific reserves for non-performing loans increased and the qualitative reserve for performing CRE office loans ("office overlay") declined. Performing office coverage² was 4.86% at quarter-end; as compared to 7.22% at the prior quarter-end, as the CRE office portfolio decreased and asset quality indicators improved.
Non-performing assets increased by $52.9 million to $166.0 million as of September 30, 2026, representing 1.75% of total assets, compared to $113.1 million, representing 1.17% of total assets as of June 30, 2026. During the quarter, non-performing loan inflows totaled $73.7 million, 76.0% of which resulted from a single loan migration. Reductions of $18.8 million primarily reflected pay-offs and underlying collateral liquidations.
Including loans held for sale, substandard and special mention loans totaled $648.4 million at September 30, 2026, compared to $759.6 million in the prior quarter. Substandard and special mention loans held for sale totaled $13.5 million and $25.6 million at September 30, 2026 and June 30, 2026, respectively.
Annualized quarterly net charge-offs for the third quarter of 2026 were 0.25% compared to 2.78% for the second quarter of 2026. Charge offs during the quarter declined due to less disposition activity related to classified assets.
The net interest margin ("NIM") increased to 2.60% for the third quarter of 2026, compared to 2.52% 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 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 12.24%, 12.24%, and 14.99%, respectively.

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

Income Statement

Net interest income was $61.3 million for the third quarter of 2026, compared to $62.4 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 $2.8 million for the third quarter of 2026, compared to $21.4 million for the prior quarter. The decrease was primarily due to the adequacy of reserves reflecting the Bank's efforts to resolve problem loan assets. The provision related to the reserve for unfunded commitments was $10 thousand, compared to $8 thousand in the prior quarter.
Noninterest income was $9.6 million for the third quarter of 2026, a decrease of $1.2 million, compared to $10.8 million for the prior quarter. The decrease in the current quarter noninterest income was primarily due to no gains on the sale of loans during the quarter, compared to a gain on sale of loans of $2.3 million in the prior quarter. This was partially offset by higher swap fee income of $1.1 million.
Noninterest expense was $47.1 million for the third quarter of 2026, compared to $44.0 million for the prior quarter. The increase over the prior quarter was primarily due to a $4.9 million increase in salaries and employee benefits driven by non-recurring $1.5 million in accelerated stock awards, $1.5 million in salary expenses from increased headcount, and non-recurring $1.3 million in annual incentives. This increase was partially offset by a $2.1 million reduction in FDIC insurance expense from improved performance metrics.
Income tax benefit was $3.3 million for the third quarter of 2026, compared to a $0.7 million expense for the prior quarter, primarily due to a state tax refund in the third quarter of 2026.

Loans and Funding

Total loans, including loans held for sale, were $6.6 billion at September 30, 2026, a decrease of 1.4% 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 from the purchase of residential mortgage real estate loans.
Total deposits at quarter-end were $8.0 billion, down $151.1 million, or 1.8%, from the prior quarter-end. Brokered deposits declined $348.0 million quarter over quarter. The decrease in total deposits was primarily driven by lower balances in interest-bearing transaction, savings, and money market accounts, partially offset by an increase in time deposits. Deposits decreased $1.4 billion compared to September 30, 2025.

Asset Quality

Allowance for credit losses was 1.84% of total loans held for investment at September 30, 2026, compared to 1.83% at the prior quarter-end as specific reserves for non-performing loans increased and the office overlay declined. Performing office coverage was 4.86% at quarter-end; as compared to 7.22% at the prior quarter-end, as the CRE office portfolio decreased and asset quality indicators improved.
Net charge-offs were $4.2 million for the quarter, compared to $47.9 million in the second quarter of 2026. This decrease was primarily associated with less disposition activity related to classified assets.
Non-performing assets ("NPAs") were $166.0 million at September 30, 2026.
- NPAs as a percentage of assets were 1.75% at September 30, 2026, compared to 1.17% at the prior quarter-end. At September 30, 2026, the Bank had no OREO properties on its books.
- Loans 30-89 days past due were $357.0 thousand at September 30, 2026, compared to $44.1 million at the prior quarter-end.

Capital

Total shareholders' equity was $1.2 billion at September 30, 2026, up 0.7% from the prior quarter-end. The increase in shareholders' equity was primarily due to quarterly net income that increased capital, partially offset by higher unrealized losses on investment securities available-for-sale resulting in an increase in the accumulated other comprehensive loss.
Book value per share and tangible book value per share³ were $38.00 and $38.00, an increase of 0.7% 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 September 30, 2026 as compared to the three months ended June 30, 2026 and September 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 three 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 2026 financial results on Thursday, October 22, 2026 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

https://edge.media-server.com/mmc/p/tvt4t76d/
For analysts who wish to participate in the conference call, please register at the following URL: https://register-conf.media-server.com/register/BI5ebb8fdea9ff49479264f6b9339b6180

A replay of the conference call will be available on the Company's website through Thursday, November 5, 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
	September 30,			June 30,		September 30,
		2026			2026		2025
Interest Income
Interest and fees on loans	$	102,260		$	106,358	$	123,704
Interest and dividends on investment securities		9,898			9,243		10,527
Interest on balances with other banks and short-term investments		9,434			10,978		15,872
Total interest income		121,592			126,579		150,103
Interest Expense
Interest on deposits		58,195			61,623		79,385
Interest on customer repurchase agreements		—			—		202
Interest on other short-term borrowings		64			582		332
Interest on long-term borrowings		2,024			2,024		2,025
Total interest expense		60,283			64,229		81,944
Net Interest Income		61,309			62,350		68,159
Provision for Credit Losses		2,809			21,448		113,215
Provision (Reversal) for Credit Losses for Unfunded Commitments		10			8		(38	)
Net Interest Income (Loss) After Provision for Credit Losses		58,490			40,894		(45,018	)

Noninterest Income
Service charges on deposits		1,794			1,733		1,773
Gain (loss) on sale of loans		—			2,291		(3,550	)
Net gain (loss) on sale of investment securities		21			266		(1,982	)
Increase in cash surrender value of bank-owned life insurance		5,773			5,672		5,293
Other income		1,976			797		961
Total noninterest income		9,564			10,759		2,495
Noninterest Expense
Salaries and employee benefits		28,274			23,366		21,290
Premises and equipment expenses		2,331			2,445		2,944
Marketing and advertising		1,474			1,161		1,316
Data processing		4,090			4,257		3,950
Legal, accounting and professional fees		4,046			4,783		2,396
FDIC insurance		2,811			4,862		6,665
Other expenses		4,075			3,154		3,336
Total noninterest expense		47,101			44,028		41,897
Income (Loss) Before Income Tax Expense		20,953			7,625		(84,420	)
Income Tax Expense (Benefit)		(3,293	)		707		(16,907	)
Net Income (Loss)	$	24,246		$	6,918	$	(67,513	)

Earnings (Loss) Per Common Share
Basic	$	0.80		$	0.23	$	(2.22	)
Diluted	$	0.79		$	0.23	$	(2.22	)


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

	September 30,			June 30,			September 30,
		2026			2026			2025
Assets
Cash and due from banks	$	13,643		$	13,394		$	9,395
Interest-bearing deposits with banks and other short-term investments		528,617			612,349			841,372
Investment securities available-for-sale at fair value (amortized cost of $991,993, $984,607, and $1,161,644 respectively, and allowance for credit losses of $—, $—, and $—, respectively)		892,030			904,183			1,073,412
Investment securities held-to-maturity at amortized cost, net of allowance for credit losses of $409, $454, and $1,199 respectively (fair value of $684,454, $730,994, and $786,662 respectively)		797,449			814,878			872,418
Federal Reserve and Federal Home Loan Bank stock		27,885			32,500			28,306
Loans held for sale, at lower of cost or fair value		13,534			49,663			136,506
Loans held for investment, at amortized cost		6,563,354			6,622,435			7,304,679
Less: allowance for credit losses		(120,781	)		(121,141	)		(156,228	)
Loans held for investment, net of allowance		6,442,573			6,501,294			7,148,451
Premises and equipment, net		14,744			13,239			10,503
Operating lease right-of-use assets		26,917			27,964			29,791
Deferred income taxes		140,393			134,077			77,362
Bank-owned life insurance		346,696			345,469			330,426
Other real estate owned		—			1,966			14,684
Other assets		219,817			207,938			242,876
Total Assets	$	9,464,298		$	9,658,914		$	10,815,502
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing demand	$	1,552,920		$	1,567,336		$	1,577,197
Interest-bearing transaction		864,462			973,651			932,500
Savings and money market		2,845,653			3,061,987			3,702,579
Time deposits		2,770,972			2,582,123			3,251,283
Total deposits		8,034,007			8,185,097			9,463,559
Customer repurchase agreements		—			—			13,725
Other short-term borrowings		—			100,000			—
Long-term borrowings		76,676			76,593			76,346
Operating lease liabilities		34,045			35,081			36,278
Reserve for unfunded commitments		3,329			3,319			4,886
Other liabilities		157,840			108,318			97,232
Total Liabilities		8,305,897			8,508,408			9,692,026
Shareholders' Equity
Common stock, par value $0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,480,480, 30,490,409, and 30,366,555 respectively		302			302			300
Additional paid-in capital		388,405			385,082			389,305
Retained earnings		882,490			858,601			831,685
Accumulated other comprehensive loss		(112,796	)		(93,479	)		(97,814	)
Total Shareholders' Equity		1,158,401			1,150,506			1,123,476
Total Liabilities and Shareholders' Equity	$	9,464,298		$	9,658,914		$	10,815,502



Loan Mix and Asset Quality (Dollars in thousands)

	September 30,				June 30,				September 30,
		2026				2026				2025
	Amount		%		Amount		%		Amount		%
Loan Balances - Period End:
Commercial	$	1,544,426	24	%	$	1,540,766	23	%	$	1,217,805	17	%
Income producing - commercial real estate		2,587,587	39	%		2,729,383	41	%		3,453,033	47	%
Owner occupied - commercial real estate		1,641,411	25	%		1,660,748	25	%		1,494,711	20	%
Real estate mortgage - residential		134,529	2	%		35,535	1	%		44,684	1	%
Construction - commercial and residential		516,565	8	%		523,121	8	%		1,010,367	14	%
Construction - C&I (owner occupied)		96,509	1	%		88,458	1	%		33,378	—	%
Home equity		41,265	1	%		43,479	1	%		49,333	1	%
Other		1,062	—	%		945	—	%		1,368	—	%
Total loans	$	6,563,354	100	%	$	6,622,435	100	%	$	7,304,679	100	%


	Three Months Ended or As Of
	September 30,		June 30,		September 30,
		2026		2026		2025
Asset Quality:
Non-performing loans	$	166,021	$	111,124	$	118,647
Other real estate owned		—		1,966		14,684
Non-performing assets	$	166,021	$	113,090	$	133,331
Net charge-offs	$	4,156	$	47,909	$	140,814
Special mention	$	195,087	$	274,187	$	423,685
Substandard	$	439,761	$	459,773	$	534,789


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

	Three Months Ended
	September 30, 2026							June 30, 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	$	1,057,929		$	9,434	3.54	%	$	1,226,640		$	10,978	3.59	%
Loans held for sale⁽¹⁾		20,925			38	0.72	%		40,356			910	9.04	%
Loans^{(1) (2)}		6,524,107			102,222	6.22	%		6,888,734			105,448	6.14	%
Investment securities available-for-sale⁽²⁾		956,701			5,654	2.34	%		950,891			5,147	2.17	%
Investment securities held-to-maturity⁽²⁾		807,289			4,244	2.09	%		830,921			4,096	1.98	%
Total interest earning assets		9,366,951			121,592	5.15	%		9,937,542			126,579	5.11	%

Noninterest earning assets		738,945							737,466
Less: allowance for credit losses		(123,338	)						(151,328	)
Total noninterest earning assets		615,607							586,138
Total Assets	$	9,982,558						$	10,523,680

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,273,097		$	8,414	2.62	%	$	1,447,015		$	9,379	2.60	%
Savings and money market		2,955,588			22,465	3.02	%		3,194,094			24,139	3.03	%
Time deposits		2,638,082			27,244	4.10	%		2,683,953			28,044	4.19	%
Total interest bearing deposits		6,866,767			58,123	3.36	%		7,325,062			61,562	3.37	%
Derivative collateral liability		25,874			72	1.10	%		14,834			61	1.62	%
Other short-term borrowings		6,524			64	3.89	%		60,440			582	3.87	%
Long-term borrowings		76,647			2,024	10.48	%		76,566			2,024	10.60	%
Total interest bearing liabilities		6,975,812			60,283	3.43	%		7,476,902			64,229	3.45	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,709,922							1,760,058
Other liabilities		132,953							133,356
Total noninterest bearing liabilities		1,842,875							1,893,414

Shareholders' equity		1,163,871							1,153,364
Total Liabilities and Shareholders’ Equity	$	9,982,558						$	10,523,680
Net interest income				$	61,309						$	62,350
Net interest spread						1.72	%						1.66	%
Net interest margin						2.60	%						2.52	%
Cost of funds						2.75	%						2.79	%

⁽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 $2.9 million and $3.9 million for the three months ended September 30, 2026 and June 30, 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 September 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	$	1,057,929		$	9,434	3.54	%	$	1,449,871		$	15,974	4.37	%
Loans held for sale⁽¹⁾		20,925			38	0.72	%		19,441			389	7.94	%
Loans^{(1) (2)}		6,524,107			102,222	6.22	%		7,648,459			123,315	6.40	%
Investment securities available-for-sale⁽²⁾		956,701			5,654	2.34	%		1,134,993			5,866	2.05	%
Investment securities held-to-maturity⁽²⁾		807,289			4,244	2.09	%		884,779			4,661	2.09	%
Total interest earning assets		9,366,951			121,592	5.15	%		11,137,543			150,205	5.35	%

Noninterest earning assets		738,945							658,014
Less: allowance for credit losses		(123,338	)						(198,158	)
Total noninterest earning assets		615,607							459,856
Total Assets	$	9,982,558						$	11,597,399

Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,273,097		$	8,414	2.62	%	$	1,391,316		$	10,824	3.09	%
Savings and money market		2,955,588			22,465	3.02	%		3,576,595			30,875	3.42	%
Time deposits		2,638,082			27,244	4.10	%		3,312,333			37,686	4.51	%
Total interest bearing deposits		6,866,767			58,123	3.36	%		8,280,244			79,385	3.80	%
Customer repurchase agreements		—			—	—	%		25,557			202	3.14	%
Derivative collateral liability		25,874			72	1.10	%		9,225			102	4.39	%
Other short-term borrowings		6,524			64	3.89	%		29,350			332	4.49	%
Long-term borrowings		76,647			2,024	10.48	%		76,318			2,025	10.52	%
Total interest bearing liabilities		6,975,812			60,283	3.43	%		8,420,694			82,046	3.87	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,709,922							1,882,971
Other liabilities		132,953							111,586
Total noninterest bearing liabilities		1,842,875							1,994,557

Shareholders' equity		1,163,871							1,182,148
Total Liabilities and Shareholders’ Equity	$	9,982,558						$	11,597,399
Net interest income				$	61,309						$	68,159
Net interest spread						1.72	%						1.48	%
Net interest margin						2.60	%						2.43	%
Cost of funds						2.75	%						3.16	%

⁽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 $2.9 million and $3.7 million for the three months ended September 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
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024
Income Statements:
Total interest income	$	121,592		$	126,579		$	131,901		$	149,526		$	150,103		$	151,443		$	153,878		$	168,417
Total interest expense		60,283			64,229			68,207			81,223			81,944			83,667			88,229			97,623
Net interest income		61,309			62,350			63,694			68,303			68,159			67,776			65,649			70,794
Provision for credit losses		2,809			21,448			13,382			15,468			113,215			138,159			26,255			12,132
Provision (reversal) for credit losses for unfunded commitments		10			8			(1,779	)		203			(38	)		1,759			(297	)		(1,598	)
Net interest income after provision for credit losses		58,490			40,894			52,091			52,632			(45,018	)		(72,142	)		39,691			60,260
Noninterest income before investment gain		9,543			10,493			12,705			12,183			4,477			8,268			8,203			4,063
Net gain (loss) on sale of investment securities		21			266			3			9			(1,982	)		(1,854	)		4			4
Total noninterest income		9,564			10,759			12,708			12,192			2,495			6,414			8,207			4,067
Salaries and employee benefits		28,274			23,366			23,247			22,661			21,290			21,940			21,968			22,597
Premises and equipment expenses		2,331			2,445			2,533			2,861			2,944			3,019			3,203			2,635
Marketing and advertising		1,474			1,161			868			1,185			1,316			1,144			1,371			1,340
Legal Contingency		—			(206	)		—			10,000			—			—			—			—
Other expenses		15,022			17,262			22,092			33,130			16,347			17,367			18,909			17,960
Total noninterest expense		47,101			44,028			48,740			69,837			41,897			43,470			45,451			44,532
Income (loss) before income tax expense		20,953			7,625			16,059			(5,013	)		(84,420	)		(109,198	)		2,447			19,795
Income tax expense		(3,293	)		707			1,341			(2,574	)		(16,907	)		(39,423	)		772			4,505
Net income (loss)		24,246			6,918			14,718			(2,439	)		(67,513	)		(69,775	)		1,675			15,290
Per Share Data:
Earnings (loss) per weighted average common share, basic	$	0.80		$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.51
Earnings (loss) per weighted average common share, diluted	$	0.79		$	0.23		$	0.48		$	(0.08	)	$	(2.22	)	$	(2.30	)	$	0.06		$	0.50
Weighted average common shares outstanding, basic		30,480,634			30,495,258			30,422,259			30,368,432			30,367,997			30,373,167			30,275,001			30,199,433
Weighted average common shares outstanding, diluted		30,634,112			30,570,105			30,540,379			30,584,374			30,367,997			30,510,847			30,404,262			30,321,644
Actual shares outstanding at period end		30,480,480			30,490,409			30,494,659			30,359,632			30,366,555			30,364,983			30,368,843			30,202,003
Book value per common share at period end	$	38.00		$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.60
Tangible book value per common share at period end⁽¹⁾	$	38.00		$	37.73		$	37.56		$	37.26		$	37.00		$	39.03		$	40.99		$	40.59
Dividend per common share	$	0.01		$	0.01		$	0.01		$	0.01		$	0.01		$	0.165		$	0.165		$	0.165
Performance Ratios (annualized):
Return on average assets		0.96	%		0.26	%		0.54	%	(0.08)%			(2.31) %			(2.33)%				0.06	%		0.48	%
Return on average common equity		8.26	%		2.41	%		5.20	%	(0.85)%			(22.66) %			(22.35)%				0.55	%		4.94	%
Return on average tangible common equity⁽¹⁾		8.26	%		2.41	%		5.20	%	(0.85)%			(22.66) %			(22.35)%				0.55	%		4.94	%
Net interest margin		2.60	%		2.52	%		2.47	%		2.38	%		2.43	%		2.37	%		2.28	%		2.29	%
Efficiency ratio⁽²⁾		66.5	%		60.2	%		63.8	%		86.8	%		59.3	%		58.6	%		61.5	%		59.5	%
Other Ratios:
Allowance for credit losses to total loans⁽³⁾		1.84	%		1.83	%		2.12	%		2.19	%		2.14	%		2.38	%		1.63	%		1.44	%
Allowance for credit losses to total non-performing loans		72.75	%		109.01	%		114.29	%		149.31	%		131.67	%		81.17	%		64.59	%		54.81	%
Non-performing assets to total assets		1.75	%		1.17	%		1.31	%		1.04	%		1.23	%		2.16	%		1.79	%		1.90	%
Net charge-offs (recoveries) (annualized) to average total loans⁽³⁾		0.25	%		2.78	%		1.46	%		0.67	%		7.36	%		4.22	%		0.57	%		0.48	%
Tier 1 capital (to average assets)		12.08	%		11.22	%		10.63	%		9.72	%		10.40	%		10.63	%		11.11	%		10.74	%
Total capital (to risk weighted assets)		16.25	%		15.84	%		15.05	%		14.33	%		14.83	%		15.27	%		15.86	%		15.86	%
Common equity tier 1 capital (to risk weighted assets)		14.99	%		14.58	%		13.80	%		13.07	%		13.58	%		14.01	%		14.61	%		14.63	%
Tangible common equity ratio⁽¹⁾		12.24	%		11.91	%		11.51	%		10.78	%		10.39	%		11.18	%		11.00	%		11.02	%
Average Balances (in thousands):
Total assets	$	9,982,558		$	10,523,680		$	11,029,930		$	11,964,701		$	11,597,399		$	11,989,095		$	12,118,190		$	12,575,722
Total earning assets		9,366,951			9,937,542			10,456,689			11,389,162			11,137,543			11,487,006			11,640,162			12,303,940
Total loans⁽³⁾		6,524,107			6,888,734			7,112,483			7,338,320			7,648,459			7,942,333			7,933,695			7,971,907
Total deposits		8,576,689			9,085,120			9,652,007			10,590,252			10,163,215			10,226,095			9,883,233			10,056,463
Total borrowings		83,171			137,006			76,483			83,056			131,225			355,914			794,940			1,118,276
Total shareholders' equity		1,163,871			1,153,364			1,147,585			1,140,402			1,182,148			1,252,252			1,242,805			1,230,573

(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,
		2026			2026			2025
Tangible common equity
Common shareholders' equity	$	1,158,401		$	1,150,506		$	1,123,476
Less: Intangible assets		—			—			—
Tangible common equity	$	1,158,401		$	1,150,506		$	1,123,476

Tangible common equity ratio
Total assets	$	9,464,298		$	9,658,914		$	10,815,502
Less: Intangible assets		—			—			—
Tangible assets	$	9,464,298		$	9,658,914		$	10,815,502

Tangible common equity ratio		12.24	%		11.91	%		10.39	%

Per share calculations
Book value per common share	$	38.00		$	37.73		$	37.00
Less: Intangible book value per common share	$	—		$	—		$	—
Tangible book value per common share	$	38.00		$	37.73		$	37.00

Shares outstanding at period end		30,480,480			30,490,409			30,366,555

Average tangible common equity
Average common shareholders' equity	$	1,163,871		$	1,153,364		$	1,182,148
Less: Average intangible assets		—			—			—
Average tangible common equity	$	1,163,871		$	1,153,364		$	1,182,148

Return on average tangible common equity
Net (loss) income	$	24,246		$	6,918		$	(67,513	)
Return on average tangible common equity		8.26	%		2.41	%	(22.66) %

Pre-provision net revenue
Net interest income	$	61,309		$	62,350		$	68,159
Noninterest income		9,564			10,759			2,495
Less: Noninterest expense		(47,101	)		(44,028	)		(41,897	)
Pre-provision net revenue	$	23,772		$	29,081		$	28,757

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 September 30, 2026 Earnings Presentation, click FINAL - 3Q2026 EGBN Earnings DECK.

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Eagle Bancorp's third-quarter 2026 earnings?

Eagle Bancorp reported $24.2 million in net income and $0.79 in diluted earnings per share for the quarter ended September 30, 2026. Second-quarter net income was $6.9 million, or $0.23 per share. Lower credit-loss provisions primarily drove the sequential increase.

When will Eagle Bancorp pay its announced dividend?

Eagle Bancorp's $0.01-per-share cash dividend is payable November 17, 2026, to shareholders of record on November 6, 2026.

Why did Eagle Bancorp's third-quarter 2026 operating expenses increase?

Higher salaries and employee benefits primarily drove the expense increase, rising $4.9 million from the prior quarter. Drivers included $1.5 million in non-recurring accelerated stock awards, $1.5 million in salary expenses from increased headcount, and $1.3 million in non-recurring annual incentives. A $2.1 million reduction in FDIC insurance expense partially offset the increase.

What were Eagle Bancorp's loan-loss reserve coverage ratios at September 30, 2026?

The allowance for credit losses was 1.84% of loans held for investment, versus 1.83% at the prior quarter-end. Coverage of performing office loans—the related allowance divided by those loans—fell to 4.86% from 7.22%, as the office portfolio decreased and asset quality indicators improved.

Eagle Bancorp, Inc. Announces Third Quarter 2026 Results