Eagle Bancorp (NASDAQ: EGBN) Q2 2026 profit hit by credit losses
Rhea-AI Filing Summary
Eagle Bancorp reported unaudited second quarter 2026 net income of $6.9 million, or $0.23 per share, down from $14.7 million, or $0.48 per share, in the first quarter. The decline was mainly driven by a higher $21.4 million provision for credit losses and increased net charge-offs of $47.9 million, partially offset by lower noninterest expense. Net interest income was $62.4 million, while pre-provision net revenue rose to $29.1 million from $27.7 million, reflecting expense reductions. The company declared a $0.01 per share cash dividend payable August 17, 2026 to shareholders of record on August 6, 2026.
Total loans, including held for sale, were $6.7 billion, down 4.6% from March 31, 2026, and total deposits were $8.2 billion, down 4.7%, as brokered deposits declined. The net interest margin improved to 2.52% from 2.47%. The allowance for credit losses was 1.83% of loans held for investment, while non-performing assets fell to $113.1 million, or 1.17% of assets. Capital remained strong with a tangible common equity ratio of 11.91% and CET1 ratio of 14.58%; book and tangible book value per share were both $37.73. Liquidity totaled $4.2 billion, covering approximately 183% of $2.3 billion of uninsured deposits.
Positive
- Pre-provision net revenue rose to $29.1 million from $27.7 million quarter-over-quarter, supported by lower noninterest expense and an improved efficiency ratio of 60.2%.
- Asset quality metrics improved in key areas: non-performing assets declined by $17.7 million to $113.1 million (1.17% of assets), and criticized plus classified loans continued to trend lower.
- Capital and liquidity are robust, with a CET1 ratio of 14.58%, tangible common equity ratio of 11.91%, and $4.2 billion in available liquidity covering uninsured deposits by over 183%.
Negative
- Quarterly net income fell by over 50% to $6.9 million from $14.7 million in Q1 2026, driven by a higher $21.4 million credit loss provision.
- Credit costs increased significantly, with net charge-offs of $47.9 million (annualized 2.78% of average loans) versus $26.0 million in the prior quarter.
- Balance sheet contracted, as total loans declined 4.6% to $6.7 billion and total deposits fell 4.7% to $8.2 billion, including a sizable reduction in brokered deposits.
Filing Explained
Eagle is shrinking CRE and brokered funding while redirecting its balance sheet toward C&I lending, with reinvestment still conditional.
On
The company is repositioning its balance sheet toward commercial and industrial lending: C&I loans including owner-occupied loans increased
The presentation's 2026 outlook remains forward-looking rather than completed: management projects
The scheduled
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net income Q2 2026: $6.918 million
Diluted EPS Q2 2026: $0.23 per share
Provision for credit losses: $21.448 million
+5 more
8 metrics
Net income Q2 2026
$6.918 million
Net income for the three months ended June 30, 2026
Diluted EPS Q2 2026
$0.23 per share
Diluted earnings per common share for Q2 2026
Provision for credit losses
$21.448 million
Provision for credit losses for Q2 2026
Net charge-offs
$47.909 million
Net charge-offs in Q2 2026, annualized rate 2.78% of average loans
Net interest margin
2.52%
Net interest margin for the second quarter of 2026
Total loans
$6.622 billion
Total loans at June 30, 2026, including loans held for sale
Total deposits
$8.185 billion
Total deposits at June 30, 2026
CET1 capital ratio
14.58%
Common equity tier 1 capital to risk-weighted assets at quarter-end
Key Terms
pre-provision net revenue, tangible common equity ratio, net interest margin, allowance for credit losses, +1 more
5 terms
pre-provision net revenue financial
"Pre-provision net revenue ("PPNR")1 improved in the second quarter to $29.1 million"
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.
tangible common equity ratio financial
"the common equity ratio, tangible common equity ratio1, and common equity tier 1 capital"
Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.
net interest margin financial
"The net interest margin ("NIM") increased to 2.52% for the second quarter of 2026"
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
"The ACL as a percentage of total loans was 1.83% at quarter-end"
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.
non-performing assets financial
"Non-performing assets decreased by $17.7 million to $113.1 million as of June 30, 2026"
Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.
Earnings Snapshot
Net income: $6.918 million · Guidance included
three months ended June 30, 2026
Net income
$6.918 million
down from $14.718 million in the first quarter of 2026
Diluted EPS
$0.23
down from $0.48 in the first quarter of 2026
Net interest income
$62.350 million
slightly down from $63.694 million in the first quarter of 2026
Pre-provision net revenue
$29.081 million
up from $27.662 million in the first quarter of 2026
Provision for credit losses
$21.448 million
up from $13.382 million in the first quarter of 2026
Guidance
Management outlined 2026 full-year outlook ranges for deposits, loans, earning assets, net interest margin, noninterest income and noninterest expenses.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Eagle Bancorp (EGBN) earnings for the second quarter of 2026?
Eagle Bancorp reported Q2 2026 net income of $6.9 million, or $0.23 per share, compared with net income of $14.7 million, or $0.48 per share, in the first quarter of 2026.
How did Eagle Bancorp (EGBN) credit quality and provisions change in Q2 2026?
Provision for credit losses increased to $21.4 million from $13.4 million in Q1 2026, and net charge-offs rose to $47.9 million. Non-performing assets declined to $113.1 million, or 1.17% of total assets.
What was Eagle Bancorp (EGBN) net interest margin in Q2 2026?
Net interest margin was 2.52% for Q2 2026, up from 2.47% in the prior quarter. Net interest income totaled $62.4 million, reflecting lower funding costs as brokered deposits were reduced.
How large were Eagle Bancorp (EGBN) loans and deposits at June 30, 2026?
At June 30, 2026, total loans including held for sale were $6.7 billion, down 4.6% from March 31, 2026, and total deposits were $8.2 billion, a 4.7% decrease over the same period.
What are Eagle Bancorp (EGBN) capital ratios and book value after Q2 2026?
At quarter-end, the CET1 capital ratio was 14.58%, the tangible common equity ratio was 11.91%, and both book value and tangible book value per share were $37.73.
Did Eagle Bancorp (EGBN) declare a dividend based on Q2 2026 results?
Yes. The company declared a $0.01 per share common stock dividend, payable on August 17, 2026, to shareholders of record as of August 6, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 22, 2026
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices) (Zip Code)
(301 ) 986-1800
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On July 22, 2026, Eagle Bancorp, Inc. (the "Company") issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
Attached as Exhibit 99.2 to this report is the presentation for the Company's earnings conference call on July 23, 2026, which also may be used in connection with potential meetings with investors and/or analysts. The Company does not undertake to update the information contained in the attached presentation materials.
The information contained in this Current Report on Form 8-K that is furnished under Items 2.02 and 7.01, including the accompanying Exhibits 99.1 and 99.2, is being furnished pursuant to Items 2.02 and 7.01 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section. The information contained in this Current Report on Form 8-K that is furnished under Items 2.02 and 7.01, including the accompanying Exhibits 99.1 and 99.2, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |||||||
99.1 | Press Release dated July 22, 2026 | |||||||
99.2 | Earnings Presentation | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EAGLE BANCORP, INC. | ||||||||
| Date: July 22, 2026 | By: | /s/ Eric R. Newell | ||||||
| Eric R. Newell | ||||||||
| Senior Executive Vice President, Chief Financial Officer | ||||||||
PRESS RELEASE FOR EAGLE BANCORP, INC. IMMEDIATE RELEASE CONTACT: Eric R. Newell July 22, 2026 240.497.1796 EAGLE BANCORP, INC. ANNOUNCES SECOND QUARTER 2026 RESULTS BETHESDA, MD, 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 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 • The Company announces today the declaration of a common stock dividend of $0.01 per share. • Total C&I loans (including owner-occupied) increased $83.2 million or 2.59%, and C&I deposits decreased $108.9 million, or 5.90% from the previous quarter reflecting timing dynamics rather than underlying relationship attrition. Year-over-year period end C&I deposit growth totaled $216.9 million or 14.28%. • As of the current quarter-end, the Company's CRE concentration ratio was 267.6% compared to 295.1% the prior quarter. ADC concentration was 66.2% compared to 75.7% in the prior quarter. • The ACL as a percentage of total loans was 1.83% at quarter-end; down from 2.12% at the prior quarter-end. Performing office coverage2 was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for CRE office loans (“office overlay”) as the CRE office portfolio decreased. • Non-performing assets decreased by $17.7 million to $113.1 million as of June 30, 2026, representing 1.17% of total assets, compared to $130.8 million, representing 1.31% of total assets as of March 31, 2026. During the quarter, non-performing loan inflows totaled $36.0 million. Reductions of $53.7 million reflected underlying collateral liquidations and sales of loans. • Including loans held for sale, substandard and special mention loans totaled $759.6 million at June 30, 2026, compared to $794.1 million in the prior quarter. Substandard and special mention loans held for sale totaled $25.6 million and $55.7 million at June 30, 2026 and March 31, 2026, respectively. • Annualized quarterly net charge-offs for the second quarter of 2026 were 2.78% compared to 1.46% for the first quarter of 2026. Charge offs during the quarter were elevated primarily due to disposition activities related to classified assets. • The net interest margin ("NIM") increased to 2.52% for the second quarter of 2026, compared to 2.47% for the prior quarter, primarily driven by improved funding mix as reduced brokered deposit usage lowered cost of funds. This improvement was partially offset by lower interest income from declines in average cash and loan balances. • At quarter-end, the common equity ratio, tangible common equity ratio1, and common equity tier 1 capital (to risk-weighted assets) ratio were 11.91%, 11.91%, and 14.58%, respectively. • Total estimated insured deposits decreased at quarter-end to $5.9 billion, representing 72.3% of deposits, compared to $6.4 billion, or 74.2% in the prior quarter. This decrease was primarily due to lower balances in money market accounts and time deposits, as well as reduced usage of brokered deposits. • Total on-balance sheet liquidity and available capacity was $4.2 billion, compared to $2.3 billion in uninsured deposits, resulting in a coverage ratio of over 183%. 2 1 A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document. 2 Calculated as the ACL attributable to loans collateralized by performing office properties as a percentage of total office loans.
Income Statement • Net interest income was $62.4 million for the second quarter of 2026, compared to $63.7 million for the prior quarter. Both interest income and interest expense declined during the quarter, reflecting the impact of declining average interest-earning balances and a reduction in higher cost brokered deposits. • Provision for credit losses was $21.4 million for the second quarter of 2026, compared to $13.4 million for the prior quarter. The increase was primarily driven by execution of the Bank's problem asset resolution strategy, partially offset by a decline in the qualitative reserve. Net charge-offs were $47.9 million for the quarter compared to $26.0 million in the first quarter of 2026. The provision related to the reserve for unfunded commitments was $8 thousand, compared to a reversal of $1.8 million in the prior quarter. • Noninterest income was $10.8 million for the second quarter of 2026, a decrease of $1.9 million, compared to $12.7 million for the prior quarter. In the current quarter, gain on the sale of loans totaled $2.3 million as compared to a gain on sale of loans in the prior quarter of $3.6 million. • Noninterest expense was $44.0 million for the second quarter of 2026, compared to $48.7 million for the prior quarter. The decrease over the prior quarter was primarily due to a $2.1 million reduction in FDIC insurance expense driven by improved performance and risk metrics, and a decrease in expenses related to loan dispositions. • Income tax expense was $0.7 million for the second quarter of 2026, compared to a $1.3 million expense for the prior quarter. The decrease in income tax expense was primarily due to lower pre-tax income during the second quarter of 2026. Loans and Funding • Total loans, including loans held for sale, were $6.7 billion at June 30, 2026, a decrease of 4.6% from the prior quarter-end. The decrease in total loans was primarily driven by declines in income-producing real estate loans, partially offset by an increase in commercial and industrial loans. • Total deposits at quarter-end were $8.2 billion, down $0.4 billion, or 4.7%, from the prior quarter-end. Of the quarter-over-quarter decline, brokered deposits represents $301.5 million. The decrease was primarily driven by lower balances in savings and money market accounts and brokered time deposits. Deposits decreased $934.5 million compared to June 30, 2025. Asset Quality • Allowance for credit losses was 1.83% of total loans held for investment at June 30, 2026, compared to 2.12% at the prior quarter-end. Performing office coverage was 7.22% at quarter-end; as compared to 7.39% at the prior quarter-end, primarily due to a decrease in the qualitative reserve for office overlay as the CRE office portfolio decreased. • Net charge-offs were $47.9 million for the quarter, compared to $26.0 million in the first quarter of 2026. This increase was primarily associated with disposition activities related to classified assets. 3
• Non-performing assets ("NPAs") were $113.1 million at June 30, 2026. ◦ NPAs as a percentage of assets were 1.17% at June 30, 2026, compared to 1.31% at the prior quarter-end. At June 30, 2026, OREO consisted of two properties with an aggregate carrying value of $2.0 million. ◦ Loans 30-89 days past due were $44.1 million at June 30, 2026, compared to $18.0 million at the prior quarter-end. As of the date of this press release, one loan with a balance of $35.4 million was subsequently paid off in full. Capital • Total shareholders' equity was $1.2 billion at June 30, 2026, up 0.5% from the prior quarter-end. The increase in shareholders' equity of $5.2 million was primarily due to quarterly income that increased capital. • Book value per share and tangible book value per share3 were $37.73 and $37.73, an increase of 0.5% from the prior quarter-end. Additional financial information: The financial information that follows provides more detail on the Company's financial performance for the three months ended June 30, 2026 as compared to the three months ended March 31, 2026 and June 30, 2025, as well as eight quarters of trend data. Persons wishing additional information should refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the SEC. About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and operates through twelve banking offices and four lending offices located in Suburban Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace, and is committed to a culture of respect, opportunity, belonging, and inclusion in both its workplace and the communities in which it operates. Conference call: Eagle Bancorp will host a conference call to discuss its second quarter of 2026 financial results on Thursday, July 23, 2026 at 10:00 a.m. Eastern Time. The listen-only webcast can be accessed at: • https://edge.media-server.com/mmc/p/jdnqw6c5/ • For analysts who wish to participate in the conference call, please register at the following URL: https://register-conf.media-server.com/register/BIa8e0958131fb45c88951e0437669e334 • A replay of the conference call will be available on the Company's website through Thursday, August 6, 2026: https://www.eaglebankcorp.com/ Forward-looking statements: This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events, financial condition, asset quality or results of Company operations and policies and regarding general economic conditions. In some cases, forward- looking statements can be identified by use of words such as "may," "will," "can," "anticipates," "believes," 4 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.
"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. 5
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) 6
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 7
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 8
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. 9
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. 10
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. 11
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. 12
2nd Quarter 2026 Earnings Presentation EagleBankCorp.com July 22, 2026 Scan for digital version Date should be Earnings Release Date, not call date Do we change QR?
Forward Looking Statements This presentation contains forward looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events 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,” “anticipates,” “believes,” “expects,” “plans,” “strategy”, “estimates,” “potential,” “continue,” “should,” and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate policy, competitive factors and other conditions which by their nature, are not susceptible to accurate forecast and are subject to significant uncertainty. 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 other periodic and current reports filed with the SEC. 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. 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. The Company does not undertake to publicly revise or update forward-looking statements in this presentation to reflect events or circumstances that arise after the date of this presentation, except as may be required under applicable law. This presentation was delivered digitally. The Company makes no representation that subsequent to delivery of the presentation it was not altered. For more information about the Company, please refer to www.eaglebankcorp.com and go to the Investor Relations tab. Our outlook consists of forward-looking statements that are not historical facts or statements of current conditions but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside our control. We may be unable to achieve the results reflected in our outlook due to the risks described in our periodic and current reports filed with the SEC, including the risk factors in our Annual Report on Form 10-K for the year ended December 31, 2025, as well as the following factors: the impact of the interest rate environment on business activity levels; declines in credit quality due to changes in the interest rate environment or changes in general economic, political, social and health conditions in the United States in general and in the local economies in which we conduct operations; our management of risks inherent in our real estate loan portfolio, including valuation risk, and the risk of a prolonged downturn in the real estate market; our management of liquidity risks; our funding profile, including the cost of our deposits and the impact of our funding costs on the competitiveness of our loan offerings; our ability to compete with other lenders, including non-bank lenders; the effects of monetary, fiscal and trade policies, including federal government spending and the impact of tariffs, the economic impact of an extended government shutdown; and the development of competitive new products and services. For further information on the Company please contact: Eric Newell P 240-497-1796 E enewell@eaglebankcorp.com 2
Attractive Washington DC Footprint The Washington DC metro area represents a robust and diverse economy, supported by a dynamic mix of public and private sector activity. The region’s foundation includes globally recognized educational institutions, a thriving private sector with growing technology innovation, and a strong tourism base. The median household income of $132 thousand in the DC MSA is well above the national median of $87 thousand and that of all Mid-Atlantic states. Eagle is one of the largest community banks headquartered in the Washington DC metro area and ranked 3rd by deposits2 in the DC MSA for banks with less than $100 billion in assets. 1 - Source: S&P Capital IQ Pro 2 – Source: FDIC Deposit Market Share Reports - Summary of Deposits 3 One-of-a-kind Market Attractive Demographics1 Advantageous Competitive Landscape
Eagle at a Glance Total Assets $9.7 billion Total Loans $6 .6 billion Total Deposits $8.2 billion Tangible Common Equity $1. 2 billion Shares Outstanding (at close June 30, 2026) 30,490,409 Market Capitalization (at close July 21, 2026) $831 million Tangible Book Value per Common Share $37.73 Institutional Ownership 80% Member of Russell 2000 Yes Member of S&P SmallCap 600 Yes Note: Financial data as of June 30, 2026 unless otherwise noted. 1 - Equity was $1.2 billion and book value was $37.73 per share. Please refer to the Non-GAAP reconciliation in the appendix. 2 - Based on July21, 2026 closing price of $27.26 per share and June 30, 2026 shares outstanding. 1 1 2 From S&P: Institutional Ownership (Market Cap and Inst. Ownership ONLY – rest comes from the 10- Q) 4
Note: Data at or for the quarter ended June 30, 2026 1 – Source: S&P Capital IQ data as of March 31, 2026. EGBN as of June 30, 2026. 2 - Please refer to the Non-GAAP reconciliation in the appendix. 3 - Includes cash and cash equivalents. 4 - Calculated based on annualized second quarter results. • CET1 Ratio = 14.58% – 87th percentile1 compared to bank holding companies with $10 billion in assets or more. • TCE / TA2 = 11.91% • ACL / Gross Loans = 1.83% • ACL / Performing Office Loans = 7.22% • Reposition loan mix to drive operating deposit growth, lower funding costs, and expand fee income. Disciplined Cost Structure • We strive to maintain a disciplined cost structure that balances support for core banking and profitability with necessary investments in risk management and compliance. • Branch-light, efficient operator. • Noninterest Expense / Average Assets4 = 1.68% • Efficiency Ratio = 60.2% • Liquidity risk management is central to our strategy. – $4.2 billion in combined on-balance sheet liquidity3 and available borrowing capacity as of quarter-end, significantly exceeding our $2.3 billion in uninsured deposits and providing a coverage ratio of 183%. – This strong liquidity profile positions Eagle to respond proactively to market shifts and support our strategy to grow C&I loans. • While uninsured deposits represent only 28% of total, the entire deposit base maintains a weighted average relationship with EagleBank of over 8 years. • The DMV has a robust and diverse economy including education, healthcare, technology, and defense sectors. • Access to a population with high household incomes, leading to more significant deposit base. • Eagle’s leadership team has deep industry experience, averaging 25 years in banking. 5 Core Strengths to Support Long Term Performance Best in Class Capital Levels Disciplined Cost Structure Strong Liquidity and Funding Position Rate-Resilient PPNR2 Growth Capitalizing on our Desirable Geography Experienced Leadership Team
Strengthen Deposits & Funding Profile Invest in Innovation Capitalize on our Market Positioning Relationships FIRST Optimize & Diversify Loans and Securities Operational Excellence • Optimize & Diversify Loans and Securities - Expand and rebalance the loan and securities portfolio to drive sustainable growth by focusing on business relationships and C&I lending while increasing fee income. • Strengthen Deposits & Funding Profile - Build a resilient core deposit funding base through targeted sales, marketing efforts, and strategic alignment. • Invest in Innovation - Continue EagleBank’s transformation through current innovative initiatives and accelerate strategic investments in talent, technology, and partnerships that drive innovation, efficiency, and long-term growth. • Capitalize on our Market Positioning - Leverage EagleBank’s brand, Relationships FIRST culture, and regional strength to increase satisfaction, retention, and value with focus on targeted C&I growth, enhancements to Business Banking, and strategic CRE optimization. 6 Strategic Initiatives to Enhance Profitability
A 4.98% reduction in RWA quarter over quarter driven by CRE payoffs deliberately maximizes our loss- absorption buffers while we intentionally run-off high-cost non-core deposits. 10.28% 8.69% 7.31% 6.72% 5.85% 5.82% 5.77% 5.75% 5.55% 5.01% 4.98% 4.57% 3.81% 2.64% 2.56% 2.43% 2.37% 2.16% Peer 1 EGBN Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 16 Peer 17 11.91% 11.04% 11.02% 10.86% 10.69% 10.62% 10.52% 10.14% 9.86% 9.43% 9.03% 9.02% 8.56% 8.50% 8.15% 8.29% 7.86% EGBN Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 16 Strategic De-Risking Produces Strong Capital Cushions Versus Peers Walk charts [date] .xls 1-Please refer to the Non-GAAP reconciliation and footnotes in the appendices. Peers are those used in the proxy for the May 2026 annual meeting. Proxy Peers are AMTB, AUB, BUSE, BY, CLBK, CNOB, CVBF, DCOM, FFIC, INDB, MCB, OCFC, PFS, STEL, TMP, UBSI, WSFS and data is as of, March 31, 2025. EGBN is as of June 30, 2026. Source: S&P Capital IQ Pro and company filings. 7 CET1 Ratio Excess CET1 + ACL / Total Loans Tangible Common Equity / Tangible Assets1 16.30% 14.58% 14.14% 13.97% 13.91% 13.86% 13.27% 13.16% 12.89% 12.55% 12.31% 11.87% 11.84% 10.75% 10.64% 10.47% 10.23% 10.21% Peer 1 EGBN Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 16 Peer 17
Performance Measures 1-Please refer to the Non-GAAP reconciliation and footnotes in the appendices. Return on Average Assets are annualized. For the periods above, return on average common equity was (22.35%) in 2025Q2, (22.66%) in 2025Q3, (0.85%) in 2025Q4, and 5.20% in 2026Q1; common equity to assets was 11.18% in 2025Q2, 10.39% in 2025Q3,10.78% in 2025Q4, and 11.51% in 2026Q1 8 Return on Average AssetsReturn on Average Tangible Common Equity1 Efficiency Ratio Tangible Common Equity / Tangible Assets1 58.60% 59.30% 86.80% 63.80% 60.20% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 11.18% 10.39% 10.78% 11.51% 11.91% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 -2.33% -2.31% -0.08% 0.54% 0.26% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 -22.35% -22.66% -0.85% 5.20% 2.41% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2
$63,694 $(6,627) $3,842 $(261) $1,701 $62,350 (i n t h o u s a n d s ) $67.8 $68.2 $68.3 $63.7 $62.4 2.37% 2.43% 2.38% 2.47% 2.52% 2.10% 2.30% 2.50% 2.70% 2.90% $(5.0) $15.0 $35.0 $55.0 $75.0 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) Net Interest Income NIM NIM Expansion Continues Amid Lower Net Interest Income Walk charts [date] .xls Data for walk chart is built into its own wDesk sheet 5 quarter charts and peer CHARTS – [date] .xls Net interest income decreased $1.3 million quarter over quarter driven by declining average interest- earning balances and a reduction in higher cost brokered deposits. Interest income decreased $5.3 million due to accelerated loan payoffs as well as a reduction in average cash and due from balances during the quarter. Interest expense decreased $4.0 million, driven by lower balances in money market accounts and time deposits, as well as reduced usage of brokered deposits. The net interest margin ("NIM") increased to 2.52% for the second quarter 2026, compared to 2.47% for the prior quarter, 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 volume. Management expects cash flows from the investment portfolio of $141 million to be selectively redeployed into higher yielding assets throughout the remainder of 2026. 9 Net Interest Income Rate/Volume Analysis Net Interest Income & Margin Net Interest Income Margin
Heightened Provision Expense Suppresses Net Income Net interest income decreased by $1.3 million, primarily driven by accelerated loan payoffs resulting in a lower average interest-earning balance. Lower interest income was offset by lower interest expense due to a reduction in higher cost brokered deposits. Provision for credit losses was $21.4 million for the second quarter of 2026, compared to $13.4 million for the prior quarter. The increase was primarily driven by execution of the Bank's problem asset reduction strategy, partially offset by a decline in the qualitative reserve. There was a provision expense of $8 thousand for unfunded commitments compared to a reversal of $1.8 million in the first quarter of 2026. Noninterest income decreased $1.9 million driven by lower gains on loan sales in the second quarter. Noninterest expense decreased by $4.7 million primarily due to $2.1 million reduction in FDIC insurance expense driven by improved risk and performance metrics, and a decrease in expenses related to loan dispositions. 10 Drivers of Net Income Change Net Interest Income Provision for Credit Losses (“PCL”) Noninterest Income Noninterest Expense $14,718 $(5,322) $3,978 $(8,066) $(1,787) $(2,212) $263 $2,147 $2,565 $634 $6,918 (i n t h o u s a n d s )
2026 Outlook Key Drivers 2025 Full Year Actual (Basis) 1Q 2026 Growth Assumption1 Current 2026 Growth Assumption1 Implied 2026 Full Year Range 2Q 2026 Actual & Tracking Notes Balance Sheet2, 3 Average deposits $10,590 4-7% decrease3 10-13% decrease $9,213 - $9,531 $9,085 Below Range Average loans $7,338 4-6% decrease 10-12% decrease $6,457 - $6,604 $6,889 Above Range Average earning assets $11,965 6-9% decrease 12-15% decrease $10,170 - $10,529 $9,938 Below Range Income Statement2 Net interest margin 2.37% Target Rate Target Rate 2.60% - 2.70% 2.52% Below Range Q2 NIM was adversely impacted by (~2bps) due to sale of a loan with COVID deferred interest income that was not collected upon. Noninterest income $29.3 15-25% growth 15-25% growth $33.7 - $36.6 $23.5 (YTD) On High-End Noninterest income of $10.8 million in the second quarter of 2026 declined from $12.7 million in the prior quarter. Noninterest expense $200.7 0-4% decrease 7-11% decrease $178.6 - $186.7 $92.8 (YTD) In-Range Noninterest expense of $44.0 million in the second quarter of 2026 declined from $48.7 million in the prior quarter. Period effective tax rate 29.6% Target Rate Target Rate 8-13% 9.3% In Range 11 1 – The Current and 1Q 2026 Growth Assumption is based off the 2025 Full Year Actual (Basis) column. 2 – All figures in millions. 3 – The decline in balance sheet growth assumptions are reflective of continued CRE payoffs and run-off brokered deposits. Other Notes: Excludes loans held for sale. 2026 Outlook represents forward-looking statements and are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Please see “Forward Looking Statements” on page 2.
98.4% 99.1% 99.2% 99.1% 97.9% 1.6% 1% 1% 1% 2.1% $9,269 $9,554 $9,211 $8,668 $8,362 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 in m ill io n s Deposits Borrowings (includes customer repos) Continued Reduction of High-Cost Brokered Deposits CDs Savings & Money Market Interest Bearing Transaction Noninterest Bearing 12 Total Period End Brokered Deposits Decreased $843.1 million Year-over-Year Deposits & BorrowingsCost Analysis 3.05% 3.10% 2.96% 2.78% 2.72% 5.46% 8.85% 10.51% 10.73% 7.63% 3.86% 3.87% 3.68% 3.49% 3.45% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 Total Deposit Cost Borrowings Total IBL Cost 17% 17% 16% 17% 19% 9% 10% 11% 11% 12% 36% 39% 40% 38% 37% 38% 34% 33% 33% 32% $9,120 $9,464 $9,134 $8,591 $8,185 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) Period End
$4,157 $2,271 Available Liquidity Uninsured Deposits A combined $493.7 million reduction in average savings, money market, and time deposits drove most of this quarter's $566.9 million decline in average deposits. The long-term strategy for deposits is to increase core deposits and reduce reliance on wholesale funding. Quarter- over-quarter, period end brokered deposit balances decreased $301.5 million. Other short-term borrowings were $100 million at June 30, 2026, compared to no outstanding balance at March 31, 2026. Available liquidity from the FHLB, FRB Discount Window, cash and unencumbered securities is over $4.1 billion. Chart in A10- Unencumbe red Deposits & Borrowings CHART file– [date] .xls Do we want to touch on core replacing brokered deposits? 13 Note: Data as of June 30, 2026 Strong Liquidity Profile Covers Uninsured Deposits by More Than 183% Significant Available Liquidity Robust Liquidity Coverage of Uninsured Deposits Funding & Liquidity Summary Deposits Borrowings Ample Access to Liquidity $177 $626 $719 $1,196 $1,617 $4,334 Borrowings 06/30/2026 Cash FHLB FRB Discount Window Unencumbered securities Borrowings + Available Liquidity (i n m ill io n s )
11% 8% 8% 8% 8% 38% 39% 38% 35% 33% 16% 17% 18% 21% 23% 18% 21% 24% 25% 16% 14% 11% 9% 8% $7,722 $7,305 $7,280 $6,939 $6,622 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) Period End 6.31% 6.40% 6.39% 6.17% 6.14% 2.13% 2.07% 2.09% 2.13% 2.08% 5.29% 5.35% 5.21% 5.12% 5.11% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 Loan Yield Securities Yield Total EA Yield Mix of Deposits Investments and Loans CHARTS [date] .xls "Loan Trend" Tab Need Tables from Mike Brooks Yield and Cost CHARTS – [date] .xls Commercial Owner-Occupied CRE Construction – comm. & residential Home Equity, Other Consumer Construction C&I (owner- occupied) Office Income producing CRE (excluding office if applicable) Note: Excludes loans held for sale. 14 23% Income Producing CRE Payoffs Outpace C&I Inflows Total Period End Loans Down $1.1 billion Year-over-Year Income Producing CRE by Type Yield Analysis $ in millions Balance % of Loans Office & Office Condo $533 8% Multifamily $692 10% Retail $236 4% Hotel/Motel $372 6% Mixed Use $178 3% Industrial $123 2% Single/1-4 Family & Res. Condo $74 1% Other $520 8% Total $2,729 41%
2.38% 2.14% 2.19% 2.12% 1.83% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 Asset Quality Metrics 1-Excludes loans held for sale. 2-Non-performing assets (“NPAs”) include loans 90 days past due and still accruing. Charts for Allowance for Credit Losses and NPAs are as of period end. Net Charge Offs (“NCO”) are annualized for periods of less than a year. 5 quarter charts – [date] .xls Look at the earnings release Q- table 15 Provision for Credit Losses NCO / Average Loans1 Allowance for Credit Losses / Loans HFI NPAs 1,2 / Assets $138,159 $113,215 $15,468 $13,382 $21,448 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n t h o u s a n d s ) 2.16% 1.23% 1.04% 1.31% 1.17% 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2
1 - Includes held for sale loans $794,133 $216,148 $(19,601) $(81,473) $(108,625) $(40,995) $759,586 2026Q1 Downgrades Upgrades HFS Sold Payoffs Charge-offs 2026Q2 (i n t h o u s a n d s ) Trends • Inflows in the quarter totaled $155.5 million across seven relationships, reflecting our continued, prudent use of the sales channel on a relationship-by-relationship basis. • Quarter over quarter, the HFS balance decreased by $6.0 million. Of the $49.7 million held for sale at June 30, 100% has executed contracts. 16 Incremental Progress in Criticized & Classified and HFS Loan Portfolios Trends • Criticized and classified trends continued to decline in the second quarter of 2026 marked by a $4.5 million and $34.5 million decrease for HFI, and for HFI and HFS, respectively. • Since the third quarter of 2025 balance of $1.1 billion in combined criticized and classified assets, there has been a reduction of $336.6 million or 30.7%. $55,702 $155,486 $(161,525) $49,663 2026Q1 Inflows Sales 2026Q2 (i n t h o u s a n d s ) Criticized and Classified Migration1 Held for Sale Migration
53.8% 55.9% 49.0% 57.9% 70.6% 89.8% 74.6% 67.4% 64.0% 86.0% 82.0% 69.0% 74.0% 74.0% 88.0% 86.0% 82.5% 83.4% $308 $365 $245 $273 $173 $424 $269 $291 $274 $408 $391 $426 $502 $702 $536 $514 $448 $460 $15 $38 $136 $91 $55 $26 $716 $756 $671 $790 $913 $1,096 $874 $794 $760 $- $200 $400 $600 $800 $1,000 $1,200 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) Special Mention Substandard HFS 9.0% 9.5% 8.5% 9.9% 11.8% 15.0% 12.0% 11.4% 11.5% 49.8% 51.7% 45.2% 52.8% 61.8% 79.6% 65.7% 59.9% 58.1% % Performing1 % of Tier 1 Capital2 % of Tier 1 Capital + ACL3 % of Loans4 Criticized & Classified Trend: YoY Progress Achieved Despite Substandard Migration 1 – Percent performing is calculated by summing performing criticized & classified loans and dividing by the total criticized and classified portfolio balance. 2 – Percent of Tier 1 capital is calculated by dividing the sum of all criticized and classified loans (including criticized and classified HFS loans) by Tier 1 capital. 3 – Percent of Tier 1 capital plus ACL is calculated by dividing the sum of all criticized and classified loans (including criticized and classified HFS loans) by the sum of Tier 1 capital and the ACL. 4 – Percent of loans is calculated by dividing the sum of all criticized and classified Held for Investment (HFI) loans plus criticized and classified Held for Sale (HFS) loans by period-end HFI loans outstanding. Mix of Deposits Investments and Loans CHARTS [date] .xls "Loan Trend Mix" Tab Tables from Mike Brooks Mix of Deposits Investments and Loans CHARTS [date] .xls "Inc Prod CRE by Type" Tab Tables from Mike Brooks Substandard and Special Mention CHARTS [date] .xls Complete Pending % performing – is this Special Mention 7000 Substandard 8000 17
$ in millions As a % of CRE Office Class Type1 Balance (in millions) # of Loans Avg. Size (in millions) Criticized and Classified In Central Business District of DC Owner Occupied Office $133.5 85 $1.6 1% Income Producing Office 533.2 50 10.7 12% Total CRE Office $666.7 135 $4.9 13% Income Producing Office Class A $304.8 13 $23.4 $36.9 11.2% Class B 219.1 30 $7.3 $40.2 0.0% Class C 9.3 7 $1.3 $0.0 0.0% Total Income Producing Office $533.2 50 $10.7 $77.1 11.2% 213% 183% 155% 123% 108% 104% 94% 69% 65% 48% 45% 26% Peer 1 Peer 2 Peer 3 Peer 4 EGBN Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 4,838 4,603 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 Note: Proxy Peers are AMTB, AUB, BUSE, BY, CLBK, CNOB, CVBF, DCOM, FFIC, INDB, MCB, OCFC, PFS, STEL, TMP, UBSI, WSFS and data is as of March 31, 2025. Peer data only shown if CRE Income Producing Office was disclosed. EGBN is as of June 30, 2026. Source: S&P Capital IQ Pro and company filings. 1 - Class Type is determined based on the latest appraisal designation. Higher Risk Rating (9000) Lower Risk Rating (1000) Office (Weighted Risk Rating) Non-Office (Weighted Risk Rating) Note: Excludes loans held for sale. 18 Office Portfolio Detail Income Producing Office Holdings Declined $288 million Year-over-Year Excess CET1+ACL/ Inc Producing Office Loans Mix and Risk Rating Trend of Total Inc. Producing CRE Office loan risk ratings have improved, reflecting proactive portfolio management and targeted de-risking initiatives.
$976 $(205) $(82) $(156) $533 2023Q2 Charge-Offs Transferred to Held for Sale Paydowns 2026Q2 (i n m ili o n s ) • Cycle to date charge offs, transfers to held for sale, paydowns, and existing office reserves represent 45.4% of June 30, 2023, outstanding balance. • We actively managed our income-producing office portfolio, reducing exposure to $533 million, or 8% of total loans. We maintain disciplined oversight through ongoing portfolio management, including quarterly reviews of all pass-rated office loans greater than $5 million. • 85.5% of income producing office loans were rated pass at June 30, 2026. Inc. Prod. Office Portfolio Declines 45% Over 3 Years Driven by Multi-faceted Approaches Note: Data as of June 30, 2026. Figures in millions. $39.8 in Reserves 19 Income Producing Office Portfolio Reduction Drivers 46.3% 18.5% 35.2%
$46 $11 $2 $89.8 $46.6 $32.0 $26.4 $46.9 $39.6 $160.7 $91.3 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028 2029+ Appraisal after 06/30/2025 Appraisal before 06/30/2025 1 – LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on most recently appraised value, which do not necessarily reflect current market conditions. There can be no assurance the Company would be able to realize the appraised value in the event of foreclosure. LTV does not necessarily indicate current collateral levels. 2 - DSCR is calculated based on contractual principal and interest payments and only considers cash flow from primary sources of repayment. Note: Excludes loans held for sale. Office Loan Portfolio: Income Producing Detail 20 Income Producing Office - Maturity Schedule Refresh of appraisal values is triggered on upcoming maturity or modification, collateral dependency under ASC 326, or downgrade to substandard or worse. Non-performing loans (NPLs) totaled $111.1 million, which includes $34.3 million from two income-producing office loans currently holding substandard risk ratings on non-accrual status. Performing Office ACL Coverage is 7.22% at 06/30/26. No Exposure to Class B Central Business District Office. Maturity Balance % of Inc Weighted Weighted Outstanding ($000s) % of Office Median Average Year ($ millions) Producing Office Cumulative % LTV1 DSCR2 Balance PSF Risk Weighting Office Balance Loans # of Loans Loan Size Loan Size 2026 $136.4 25.6% 25.6% 65 1.2 248 Substandard $66,262 12.4% 5 $15,828 $13,252 2027 144.8 27.2% 52.7% 53 1.2 190 Special Mention 10,817 2.0% 1 $10,817 10,817 2028 160.7 30.1% 82.9% 61 1.4 222 Pass 456,112 85.5% 44 4,172 10,366 2029+ 91.3 17.1% 100.0% 68 1.6 245 $533.2 100.0% 61 1.3 $224 Total $533,191 100.0% 50 $6,746 $10,664
$141.3 $263.3 $71.5 $126.5 $26.4 $0.6 $2.3 $59.9 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028 2029+ (i n m ill io n s ) 1 – LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on most recently appraised value, which do not necessarily reflect current market conditions. There can be no assurance the Company would be able to realize the appraised value in the event of foreclosure. LTV does not necessarily indicate current collateral levels. 2 - DSCR is calculated based on contractual principal and interest payments and only considers cash flow from primary sources of repayment. 3 – Debt yield is calculated based on net operating income divided by the outstanding loan balance at June 30, 2026. Multifamily Exposure Reduced 9% QoQ Through Targeted, Controlled Attrition 21 Income Producing Multifamily - Maturity Schedule Multifamily Loan Portfolio Composition Maryland 21.68% Virginia 29.00% Washington DC 42.99% Other US 6.33% ($ in millions) % of Income Producing Multifamily Total Balance $691.9 # of Loans 34 Avg Size 20.3 Median Size 9.5 Pass $408 59.0% Criticized $284 41.0% Non-Accrual % 1% Weighted LTV1 58 Weighted DSCR2 1.0 Debt Yield3 6.0 Weighted Risk Rating 5460 Geography Maryland $150 21.7% Virginia $201 29.0% Washington DC $297 43.0% Other US $44 6.3% Total $691.9 100%
Appendix
Virginia 45.45% Maryland 32.21% Washington DC 11.14% Central Business District of DC 11.19% CRE Office Decline: Volume Decreases 7% QoQ While Capital Buffer Expands Note: Excludes loans held for sale, OOCRE & OO construction. 1- Loan risk grade categories: 1000 – Prime, 2000 – Excellent (“Excel.”), 3000 – Good, 4000 – Acceptable (“Accept.”), 5000 – Acceptable with Risk (“AwR”), 6000 – Watch, 7000 – Other Assets Especially Mentioned (O.A.E.M.), 8000 – Substandard, 9000 – Doubtful, 9999 - Loss 23 Office Loan Portfolio CompositionTrend in Balance and % of CET1 Capital CRE Office by Size (sqft) < 50k 50k - 100k 100k - 150k 150k - 200k 200k - 400k 400k - 500k # of Loans 24 11 8 3 2 2 Balance ($000s) $100,743 $71,553 $155,415 $99,305 $79,880 $26,295 Avg. Square Feet 21,959 66,860 127,902 174,536 347,391 444,365 Median Square Feet 20,263 66,746 130,492 163,385 347,391 444,365 Avg. Risk Rating1 Good Accept. AwR Accept. Accept. Excel. Median Risk Rating 3,650 3,150 5,525 4,300 4,350 2,850 Avg. Loan Size ($000s) $4,198 $6,505 $19,427 $33,102 $39,940 $13,147 Median Loan Size ($000s) $1,405 $3,930 $17,512 $22,515 $39,940 $13,147 $100,743 $71,553 $155,415 $99,305 $79,880 $26,295 $976 $950 $955 $899 $889 $865 $864 $849 $821 $602 $577 $574 $533 44.9% 0.0% 25.0% 50.0% 75.0% 100.0% $0 $400 $800 $1,200 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (i n m ill io n s ) Balance % of CET1 Capital
Non-accrual Resolutions Outpace Inflows of $36 million Period end non-accrual loans decreased by $17.6 million quarter-over-quarter driven by paydowns and charge-offs that outpaced inflows. Further improvement can be attributed to a 41.5% decline in inflows quarter over quarter. 24 Non-accrual Relationships Above $5 Million1 Credit Resolution Highlights 1- Data as of June 30, 2026 and excludes loans held for sale. Loan Purpose - Location Balance ($millions) % Total NALs 1 Office - Washington DC $19.2 17.3% 2 Office - Fairfax $18.5 16.7% 3 UCC1 Blanket Lien - Baltimore $8.9 8.1% 4 Multifamily - Washington DC $7.4 6.7% 5 OO Multifamily - Washington DC $7.2 6.5% 6 Land - Montgomery $7.2 6.5% All Other Non-accrual Loans $42.7 38.4% Total Non-accrual Loans $111.1 100.0% $128,761 $- $36,038 $(14,658) $(24,982) $(14,035) $111,124 2026Q1 Return to Accruing Inflows Paydowns Charge-offs Transferred to HFS 2026Q2 (i n t h o u s a n d s ) Drivers of Non-accrual Change
Summary of Classified and Criticized Loans above $10M 1 - Loan collateral is a project that is either recently completed and in lease up, not yet stabilized, under development, or in process of conversion 2 - LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on most recently appraised value, which do not necessarily reflect current market conditions. There can be no assurance the Company would be able to realize the appraised value in the event of foreclosure. LTV does not necessarily indicate current collateral levels 3 - Debt Service Coverage Ratio is calculated based on contractual principal and interest payments and only considers cash flow from primary sources of repayment 4 – Mixed collateral commercial real estate 5 – Paid-off in full post 06/30/2026 quarter close Note: Excludes loans held for sale 25 All Special Mention and Substandard Loans Over $10 million # of 6/30/2026 Average Median # of 6/30/2026 % of Risk Rating Loans Balance Size Size Loans Balance Total QoQ Δ Special Mention Loans 21 $274,186 $13,056 $7,208 10 $260,627 95% New Substandard Loans 148 459,773 3,107 369 12 297,278 65% Upgrade Grand Total 169 $733,960 $4,343 $538 $22 $557,906 Downgrade Appraised Debt Service Non Valuation Amount Date of Latest Value Date of Coverage Date of Accrual Since 06/30/2025 Loan # Collateral Type Loan Type Location ($000s) Maturity LTV2 ($000s) Appraisal Ratio3 DSCR (Yes, No) (Yes, No) Special Mention Loans Over $10 Million 1 Storage Facility CRE Montgomery $56,196 8/10/2026 72% $77,700 7/27/2022 0.93 3/31/2026 No No 2 Apartment Building CRE Washington DC 42,854 10/27/2026 58% 74,000 9/30/2025 0.67 3/31/2026 No Yes 3 Apartment Building CRE Other US 36,375 11/30/2026 70% 51,900 9/29/2021 0.89 3/31/2026 No No 4 Hotel/Motel CRE Washington DC 35,875 12/23/2029 69% 52,100 10/7/2024 0.81 3/31/2026 No No 5 Mixed Use: Predominantly Commercial4 CRE Montgomery 27,722 10/27/2026 53% 52,600 10/18/2021 0.76 12/31/2025 No No 6 Education CRE Montgomery 16,500 1/10/2030 88% 18,800 11/4/2024 1.75 3/31/2026 No No 7 Industrial C&I Other US 12,400 2/26/2027 0.97 12/31/2025 No No 8 Industrial C&I Other US 11,325 8/29/2028 32% 35,362 1/17/2024 0.97 12/31/2025 No No 9 Office CRE Washington DC 10,827 11/10/2026 47% 22,949 3/18/2026 1.26 3/31/2026 No Yes 10 Church C&I Prince William 10,554 6/10/2029 54% 19,500 2/4/2022 0.64 12/31/2025 No No $260,627 Substandard Loans Over $10 Million 1 Apartment Building CRE Prince George's $56,000 8/21/2026 88% $63,700 3/9/2026 0.63 4/30/2026 No Yes 2 Apartment Building CRE Montgomery 50,474 8/31/2031 74% 67,800 11/25/2025 0.80 9/30/2025 No Yes 3 Apartment Building5 CRE Washington DC 35,431 5/16/2026 47% 75,900 11/13/2025 0.97 3/31/2026 No Yes 4 Apartment Building CRE Washington DC 26,053 9/29/2027 84% 31,000 1/8/2021 0.82 3/31/2026 No No 5 Office CRE Fairfax 22,072 9/25/2026 96% 23,000 4/2/2026 0.74 3/31/2026 No Yes 6 Apartment Building CRE Washington DC 20,521 12/30/2026 84% 24,500 6/13/2026 0.15 3/31/2026 No Yes 7 Office CRE Fairfax 18,502 2/28/2026 76% 24,300 9/5/2025 1.00 3/31/2026 Yes #1 Yes 8 Mixed Use: Predominantly Commercial4 CRE Washington DC 15,858 8/11/2031 154% 10,300 4/13/2026 1.19 12/31/2025 No Yes 9 Office CRE Washington DC 15,828 8/1/2030 40% 38,500 2/4/2026 0.68 6/30/2025 Yes #2 Yes 10 Storage Facility CRE Anne Arundel 14,996 9/30/2026 77% 19,580 6/13/2022 0.26 3/31/2026 No No 11 Apartment Building CRE Washington DC 10,904 5/4/2027 57% 19,100 9/24/2025 1.00 12/31/2025 Yes #3 Yes 12 Condo CRE Alexandria 10,639 6/13/2026 20% 53,400 11/23/2024 1.00 12/31/2025 No No $297,278
Top 25 Loans Represent 23.9% of Total Loans 1 – Mixed collateral commercial real estate 2 - LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on most recently appraised value, which do not necessarily reflect current market conditions. There can be no assurance the Company would be able to realize the appraised value in the event of foreclosure. LTV does not necessarily indicate current collateral levels. Note: Data as of June 30, 2026 and excludes loans held for sale. 26 Appraisal Collateral Balance % Total Risk Maturity Amount Appraisal Latest Rate Fixed / Non Collateral Type Loan Type Location ($000s) Loans Rating Date ($000s) Date LTV2 (%) Variable Accrual? 1 Apartment Building with Retail/Commercial Space Construction CRE Montgomery $94,000 1.4% Pass 12/23/2026 $168,000 11/14/2022 56% 6.25 V No 2 Apartment Building with Retail/Commercial Space Construction CRE Montgomery 88,497 1.3% Pass 11/30/2026 $151,000 05/09/2023 59% 6.66 V No 3 Apartment Building Income Producing CRE Falls Church City 87,299 1.3% Pass 12/23/2026 $185,600 11/14/2022 47% 6.37 V No 4 CCRC Skilled Nursing Owner Occupied CRE Prince George's 82,466 1.2% Pass 12/31/2027 $148,500 12/12/2025 56% 6.37 V No 5 Pledged Non-Marketable Securities C&I Other US 80,500 1.2% Pass 05/15/2029 7.87 V No 6 Data Center Income Producing Construction CRE Loudoun 75,000 1.1% Pass 04/26/2027 $138,696 03/07/2023 54% 6.64 V No 7 CCRC Skilled Nursing Owner Occupied CRE Virginia Beach City 72,000 1.1% Pass 10/30/2028 $133,149 07/27/2025 54% 6.40 V No 8 Health Care (Non CCRC) C&I Washington DC 70,551 1.1% Pass 08/05/2026 6.25 V No 9 Mixed Use: Predominantly Residential Income Producing CRE Washington DC 63,300 1.0% Pass 09/06/2029 $121,400 04/13/2022 52% 5.62 V No 10 Mixed Use: Predominantly Commercial1 C&I Other US 61,692 0.9% Pass 08/31/2028 5.20 F No 11 Office Income Producing CRE Montgomery 60,000 0.9% Pass 09/05/2028 $75,200 12/31/2024 80% 6.00 F No 12 Office Income Producing CRE Washington DC 59,679 0.9% Pass 03/31/2028 $108,000 11/08/2022 55% 5.50 F No 13 Hotel Near Major University Income Producing CRE Prince George's 59,000 0.9% Pass 04/01/2027 $77,300 03/03/2025 76% 6.37 V No 14 Storage Facility Income Producing CRE Montgomery 56,196 0.8% Criticized 08/10/2026 $77,700 07/27/2022 72% 5.50 V No 15 Apartment Building Construction CRE Prince George's 56,000 0.8% Criticized 08/21/2026 $63,700 03/09/2026 88% 7.14 V No 16 CCRC Assisted-Living Income Producing CRE Washington DC 54,452 0.8% Pass 12/29/2026 $84,300 09/18/2023 65% 6.75 V No 17 Apartment Building Income Producing CRE Chesterfield 53,666 0.8% Pass 03/07/2027 $110,000 02/10/2023 49% 6.62 V No 18 Education Owner Occupied / C&I Washington DC 53,548 0.8% Pass 11/10/2052 $64,050 09/06/2022 84% 3.66 V No 19 Industrial Construction CRE Prince William 52,961 0.8% Pass 11/30/2026 $115,200 09/15/2022 46% 5.74 V No 20 Hotel/Motel Income Producing CRE Washington DC 51,377 0.8% Pass 09/17/2028 $83,000 08/17/2018 62% 6.19 F No 21 Apartment Building Income Producing CRE Montgomery 50,474 0.8% Criticized 08/31/2031 $67,800 11/25/2025 74% 6.34 F No 22 CCRC-Skilled Nursing Owner Occupied CRE Other US 50,000 0.8% Pass 12/11/2027 $83,333 10/16/2024 60% 8.20 V No 23 SC-Skilled Nursing Uncovered Owner Occupied CRE Other US 50,000 0.8% Pass 03/31/2029 $78,031 01/09/2026 64% 6.15 V No 24 Apartment Building Income Producing CRE Washington DC 49,930 0.8% Pass 05/18/2027 $204,000 02/28/2023 24% 6.37 V No 25 Education Owner Occupied / C&I Washington DC 49,238 0.7% Pass 12/01/2051 $105,500 07/04/2022 47% 3.19 V No Total $1,581,826 23.9% Weighted Average 6.19
$2,602 $2,531 $2,556 $2,665 $2,643 $2,746 $3,049 $3,207 $3,290 50% 0% 20% 40% 60% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) Commercial Owner Occupied RE % of Total Loans $1,589 $1,494 $1,444 $1,444 $1,519 $1,726 $2,083 $1,845 $1,736 21% 0% 10% 20% 30% $0 $500 $1,000 $1,500 $2,000 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) C&I Deposits % of Total Deposits C&I Loans Grow 24% YoY 1 – Includes owner occupied construction 2 – End of period balances Since sharpening our focus on C&I in 4Q24, we’ve accelerated portfolio rotation toward higher-value, relationship-driven lending, with strong production and pipeline momentum. Total C&I loans (including owner- occupied) increased $83.1 million or 2.6%, reflecting our continued execution on our diversification strategy. C&I deposits decreased $108.9 million, or 5.9% compared to the previous quarter, primarily reflecting timing dynamics rather than underlying relationship attrition. Importantly, C&I deposit penetration will remain strong as relationships season. 27 24% Growth YoY 14% Growth YoY 1 Loans2 Deposits2 Recent Growth Second Quarter Activity
1 – End of period balances Strategic Rebalancing: C&I Crosses the 50% Mark C&I and CRE account for 99% of the Bank’s $6.6 billion in loans HFI at 06/30/2026. As of June 30, 2026, C&I loans have increased $240.9 million YTD due to strong pipeline activity and additional emphasis on a diversified loan portfolio whereas CRE balances have declined $893.6 million YTD, and $395.7 million from the prior quarter. C&I deposits have increased $216.9 million YoY to 21% of the $8.2 billion in total deposits at June 30 due to strong deal flow. Quarter-over-quarter C&I deposits declined $108.9 million reflecting timing dynamics. CRE deposits declined marginally despite accelerated payoffs during the quarter. Year-over-year, CRE deposits decreased $152.2 million to $1.2 billion which accounts for 14% of total deposits compared to 15% at June 30, 2025. 1 28 Loan Composition1 Deposit Composition1 Loans Deposits 17% 18% 23% 22% 21% 15% 14% 14% 14% 14% 68% 68% 63% 64% 65% 0% 10% 20% 30% 40% $0 $2,000 $4,000 $6,000 $8,000 $10,000 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) C&I CRE Other C&I as a % of Total Deposits (RA) CRE as a % of Total Deposits (RA) 34% 38% 42% 46% 50% 65% 61% 57% 53% 49% 1% 1% 1% 1% 1% $0 $2,000 $4,000 $6,000 $8,000 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (i n m ill io n s ) C&I CRE Other
US Treasury 0% Agency Debenture 18% Agency MBS 61% Agency CMBS 9% Municipal 6% Corporate 6% Investment Portfolio: Continued Run-off with Optionality Ahead • Portfolio remains well-positioned to meet anticipated liquidity requirements. • Projected principal cash flow of $141 million for the remainder of 2026. • Total securities balance decreased by $52.5 million since March 31, 2026 driven by principal paydowns, maturities, called securities, and changes in market value. • Cash flow from securities portfolio is expected to be primarily used to pay down brokered funding for most of the year, with selective reinvestment potentially occurring in the fourth quarter of 2026. • Unencumbered securities of $1.62 billion available for pledging. Note: Chart is as of June 30, 2026 period end on an amortized cost basis. 29 AFS & HTM Investment Portfolio StrategyInvestment Portfolio Composition Percent Projected Securities by of Portfolio Book Reprice Classification at Book Yield Term (years) Securities AFS 54% 1.92% 3.7 Securities HTM 46% 2.03% 5.9 Total Securities 100% 1.97% 4.7
$35.74 $38.97 $35.86 $39.08 $40.59 $37.26 $37.56 $37.73 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y 2026Q1 2026Q2 TBVPS Recent TBVPS Expansion Driven by Retained Earnings Note: Per share data is as of period end. Please refer to Non-GAAP reconciliation and footnotes in the appendices 1 – CAGR = 12/31/2020 – 06/30/2026 EPS and TBVPS - AOCI impact CAGR CHART [date] .xls 30 $37.56 $0.23 $- $(0.16) $37.73 $(0.01) $0.11 2026Q1 TBVPS Net Income Dividend Intangibles Stock Based Comp/ESPP AOCI 2026Q2 TBVPS Tangible Book Value per Share – 1% CAGR1
Loan Portfolio - Details From Mike Brooks NOTE change the % from % of type to “TOTAL LOANS” 31 Note: Totals may not match detail due to adjustments for deferred fees & costs $ in millions Location C&I Owner Occupied CRE Income Producing CRE Owner Occupied Const. CRE Construction Land Residential Mortgage Consumer TOTAL % of Total Loans Washington DC $246.2 $374.8 $950.1 $2.9 $76.8 $29.3 $12.1 $12.4 $1,704.6 25.7% Suburban Washington Montgomery 158.2 205.4 383.9 10.2 197.5 5.8 4.7 17.8 983.5 14.9% Fairfax 136.2 121.7 368.4 - 13.1 - 5.0 6.8 651.2 9.8% Prince George's 57.5 276.4 243.2 0.8 30.4 - - 1.3 609.6 9.2% Loudoun 45.1 42.3 94.8 - 78.6 1.0 0.2 1.0 263.0 4.0% Alexandria 22.1 22.7 84.6 - 14.1 - 1.2 0.1 144.8 2.2% Prince William 4.4 18.7 63.6 0.1 53.0 - - 0.4 140.2 2.1% Arlington 13.8 0.3 22.0 - 2.2 - 1.3 1.7 41.3 0.6% Frederick 2.9 1.6 44.6 - - - 0.3 0.3 49.7 0.8% 440.2 689.1 1,305.1 11.1 388.9 6.8 12.7 29.4 2,883.3 43.5% Other Maryland Anne Arundel 105.5 34.6 81.0 - 20.3 - - 0.4 241.8 3.7% Baltimore 121.3 44.1 9.0 - - - - - 174.4 2.6% Howard 23.0 57.6 40.1 - - - 0.3 - 121.0 1.8% Eastern Shore 13.2 1.3 48.6 - - - 1.2 0.8 65.1 1.0% Charles 0.4 12.1 5.1 - - - - 0.2 17.8 0.3% Other MD 0.6 0.7 0.2 - - - 0.1 0.4 2.0 0.0% 264.0 150.4 184.0 - 20.3 - 1.6 1.8 622.1 9.4% Other Virginia Fauquier - - 2.6 - - - - - 2.6 0.0% Other VA 77.0 120.1 194.5 - - - 0.1 - 391.7 5.9% 77.0 120.1 197.1 - - - 0.1 - 394.3 6.0% Other USA 513.4 387.1 93.1 13.7 1.0 - 9.0 0.8 1,018.1 15.4% Total $1,540.8 $1,721.5 $2,729.4 $27.7 $487.0 $36.1 $35.5 $44.4 $6,622.4 100.0% % of Total Loans 23.3% 26.0% 41.2% 0.4% 7.4% 0.5% 0.5% 0.7% 100.0%
Loan Portfolio – Income Producing CRE Note: Loan metrics not inclusive of deferrals, fees and other adjustments. Data as of June 30, 2026 From Mike Brooks 32 $ in millions Single/1-4 Family & Res. Condo % of Total LoansLocation Hotel/ Motel Industrial Mixed Use Multi-family Office Retail Other TOTAL Washington DC $146.5 $0.8 $99.3 $297.5 $119.1 $56.7 $53.0 $177.2 $950.1 14.3% Suburban Washington Montgomery - 9.8 39.4 88.7 134.3 10.6 5.0 96.1 383.9 5.8% Fairfax 34.9 0.3 1.0 88.1 165.1 30.9 2.0 46.1 368.4 5.6% Prince George's 70.0 45.3 3.7 61.0 29.1 12.7 0.3 21.1 243.2 3.7% Loudoun - 31.4 0.5 - 0.5 1.8 0.2 60.4 94.8 1.4% Alexandria 13.6 - 5.2 - 30.0 1.5 1.7 32.6 84.6 1.3% Prince William - - - 4.3 0.1 8.3 0.2 50.7 63.6 1.0% Arlington - - - - 21.3 - - 0.7 22.0 0.3% Frederick - 1.8 0.4 - 3.9 36.0 - 2.5 44.6 0.7% 118.5 88.6 50.2 242.1 384.3 101.8 9.4 310.2 1,305.1 19.7% Other Maryland Anne Arundel 30.1 - - - 1.6 49.3 - - 81.0 1.2% Baltimore - - 3.0 0.3 - 0.7 0.2 4.8 9.0 0.1% Howard 29.5 5.8 - - 2.9 3.8 1.6 5.0 48.6 0.7% Eastern Shore 27.3 12.8 - - - - - - 40.1 0.6% Charles - 5.1 - - - - - - 5.1 0.1% Other MD - - - - - 0.2 - - 0.2 0.0% 86.9 23.7 3.0 0.3 4.5 54.0 1.8 9.8 184.0 2.8% Other Virginia Fauquier - - - - - - - 2.6 2.6 0.0% Other VA - 10.2 20.5 108.2 25.3 21.3 6.2 2.8 194.5 2.9% 0.0 10.2 20.5 108.2 25.3 21.3 6.2 5.4 197.1 3.0% Other USA 20.4 - 4.8 43.8 - 2.4 4.0 17.7 93.1 1.4% Total $372.3 $123.3 $177.8 $691.9 $533.2 $236.2 $74.4 $520.3 $2,729.4 41.2% % of Total 13.6% 4.5% 6.5% 25.3% 19.5% 8.7% 2.7% 19.1% 100.0%
Loan Portfolio – CRE Construction Note: Loan metrics not inclusive of deferrals, fees and other adjustments. Data as of June 30, 2026. From Mike Brooks NOTE change the % from % of type to “TOTAL LOANS” 33 $ in millions % of Total LoansLocation Single & 1-4 Family Multi family Office Hotel/Motel Mixed Use Retail Residential Condo Other TOTAL Washington DC $8.0 $42.5 $3.4 $16.6 $0.0 $0.0 $0.0 $6.3 $76.8 1.2% Suburban Washington Montgomery 15.1 182.4 - - - - - - 197.5 3.0% Fairfax 6.9 2.8 - - 3.0 0.4 - - 13.1 0.2% Prince George's 0.2 - - - 27.7 2.5 - - 30.4 0.5% Loudoun 1.3 - - - 2.3 - - 75.0 78.6 1.2% Alexandria 0.6 - - 2.9 - - 10.6 - 14.1 0.2% Prince William - - - - - - - 53.0 53.0 0.8% Arlington 2.2 - - - - - - - 2.2 0.0% Frederick - - - - - - - - - 0.0% 26.3 185.2 - 2.9 33.0 2.9 10.6 128.0 388.9 5.9% Other Maryland Anne Arundel - - - - - - 5.4 14.9 20.3 0.3% Baltimore - - - - - - - - - 0.0% Howard - - - - - - - - - 0.0% Eastern Shore - - - - - - - - - 0.0% Charles - - - - - - - - - 0.0% Other MD - - - - - - - - - 0.0% - - - - - - 5.4 14.9 20.3 0.3% Other Virginia Fauquier - - - - - - - - - 0.0% Other VA - - - - - - - - - 0.0% - - - - - - - - - 0.0% Other USA - - - - - - - 1.0 1.0 0.0% Total $34.3 $227.7 $3.4 $19.5 $33.0 $2.9 $16.0 $150.2 $487.0 7.4% % of Total 7.0% 46.8% 0.7% 4.0% 6.8% 0.6% 3.3% 30.8% 100.0% Renovation $1.3 $31.9 $0.0 $19.4 $27.7 $0.0 $0.0 $0.0 $0.0 Ground-Up $33.0 $195.8 $3.4 $0.1 $5.3 $2.9 $16.0 $150.2 $0.0
Non-GAAP Reconciliation (Unaudited) APPENDIX - Non-GAAP Recon TABLE and PPNR CHART [date] .xls 34 $ in thousands, except per share data As of Period End 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 Tangible common equity Common shareholders' equity $1,185,067 $1,123,476 $1,131,283 $1,145,277 $1,150,506 Less: Intangible assets (9) - - - - Tangible common equity $1,185,058 $1,123,476 $1,131,283 $1,145,277 $1,150,506 Tangible common equity ratio Total assets $10,601,331 $10,815,502 $10,497,203 $9,954,281 $9,658,914 Less: Intangible assets (9) - - - - Tangible assets $10,601,322 $10,815,502 $10,497,203 $9,954,281 $9,658,914 Tangible common equity ratio 11.18% 10.39% 10.87% 11.51% 11.91% Per Share Calculations Book value $39.03 $37.00 $37.26 $37.56 $37.73 Less: Intangible book value - - - - - Tangible book value $39.03 $37.00 $37.26 $37.56 $37.73 Shares outstanding 30,364,983 30,366,555 30,359,632 30,494,659 30,490,409 $ in thousands For the Quarter 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 Average tangible common equity Average common shareholders equity $1,252,252 $1,182,148 $1,140,402 $1,147,585 $1,153,364 Less: Intangible assets (11) - - - - Average tangible common equity $1,252,241 $1,182,148 $1,140,402 $1,147,585 $1,153,364 Return on avg. tangible common equity Net Income -$69,775 -$67,513 -$2,439 $14,718 $6,918 Average tangible common equity $1,252,241 $1,182,148 $1,140,402 $1,147,585 $1,153,364 Return on avg. tangible common equity -22.35% -22.66% -0.85% 5.20% 2.41% $ in thousands For the Quarter 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 Pre-Provision Net Revenue Net interest income $67,776 $68,159 $68,303 $63,694 $62,350 Non-interest income $6,414 $2,495 $12,192 $12,708 $10,759 Non-interest expense (43,470) (41,897) (69,837) (48,740) (44,028) Pre-Provision Net Revenue 30,720 28,757 10,658 27,662 29,081
Non-GAAP Reconciliation (unaudited) 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 above table provides reconciliation of these financial measures defined by GAAP with non-GAAP financial measures. 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. Forward-Looking Non-GAAP Financial Measures: From time to time we may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates for expenses excluding FDIC deposit insurance assessments. We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts. Such unavailable information could be significant to future results. 35