$EGBN

EAGLE BANCORP INC

CIK:0001050441|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Interest and fees on loans	$ 106,358	$ 125,247	$ 215,924	$ 251,410
Interest and dividends on investment securities	9,243	11,436	18,889	23,348
Interest on balances with other banks and short-term investments	10,978	14,760	23,667	30,563
Total interest income	126,579	151,443	258,480	305,321
Interest Expense
Interest on deposits	61,623	78,912	127,804	156,123
Interest on customer repurchase agreements	0	250	0	510
Interest on other short-term borrowings	582	2,489	584	11,222
Interest on long-term borrowings	2,024	2,016	4,048	4,041
Total interest expense	64,229	83,667	132,436	171,896
Net Interest Income	62,350	67,776	126,044	133,425
Provision for Credit Losses	21,448	138,159	34,830	164,414
Provision for (Reversal of) Credit Losses for Unfunded Commitments	8	1,759	(1,771)	1,462
Net Interest Income (Loss) After Provision for (Reversal of) Credit Losses	40,894	(72,142)	92,985	(32,451)
Noninterest Income
Service charges on deposits	1,733	1,771	3,465	3,514
Gain (loss) on sale of loans	2,291	0	5,841	0
Net gain (loss) on sale of investment securities	266	(1,854)	269	(1,850)
Increase in the cash surrender value of bank-owned life insurance	5,672	5,161	11,351	9,443
Other income	797	1,336	2,541	3,514
Total noninterest income	10,759	6,414	23,467	14,621
Noninterest Expense
Salaries and employee benefits	23,366	21,940	46,613	43,908
Premises and equipment expenses	2,445	3,019	4,978	6,222
Marketing and advertising	1,161	1,144	2,029	2,515
Data processing	4,257	4,293	8,461	8,271
Legal, accounting and professional fees	4,783	1,550	9,095	4,672
FDIC insurance	4,862	8,077	11,871	17,039
Other expenses	3,154	3,447	9,721	6,294
Total noninterest expense	44,028	43,470	92,768	88,921
Income (Loss) Before Income Tax Expense	7,625	(109,198)	23,684	(106,751)
Income Tax Expense (Benefit)	707	(39,423)	2,048	(38,651)
Net Income (Loss)	$ 6,918	$ (69,775)	$ 21,636	$ (68,100)
Earnings (Loss) Per Common Share
Basic (in dollars per share)	$ 0.23	$ (2.30)	$ 0.71	$ (2.25)
Diluted (in dollars per share)	$ 0.23	$ (2.30)	$ 0.71	$ (2.25)

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net Income (loss)	$ 21,636	$ (68,100)
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	34,830	164,414
(Reversal of) provision for unfunded commitments	(1,771)	1,462
Depreciation and amortization	1,170	1,611
Securities premium amortization (discount accretion), net	2,402	2,288
Net gain on sale of other real estate owned	(6)	(487)
Net increase in cash surrender value of bank-owned life insurance	(11,351)	(9,443)
Net (gain) loss on sale of investment securities	(269)	1,850
Stock-based compensation expense	3,464	3,797
Decrease (increase) in other assets	11,627	(42,346)
Increase (decrease) in other liabilities	(14,484)	(40,482)
Net cash provided by operating activities	47,248	14,564
Cash Flows From Investing Activities:
Purchases of available-for-sale investment securities	0	(28,224)
Proceeds from paydowns of available-for-sale securities	51,505	60,151
Proceeds from sale/call and maturities of available-for-sale securities	18,269	102,834
Proceeds from paydowns of held-to-maturity securities	30,557	33,786
Proceeds from call/maturities of held-to-maturity securities	11,844	10,127
Proceeds from (purchases of) Federal Reserve stock	194	(121)
Proceeds from (purchases of) Federal Home Loan Bank stock	(4,367)	21,272
Net change in loans	331,376	80,541
Proceeds from sale of loans	293,766	0
Net (purchases) redemptions of bank-owned life insurance	805	(200,000)
Proceeds from sale of other real estate owned	360	772
Purchase of premises and equipment	(1,444)	(864)
Net cash (used in) provided by investing activities	732,865	80,274
Cash Flows From Financing Activities:
Increase (decrease) in deposits	(948,509)	(11,471)
Increase (decrease) in customer repurchase agreements	0	(9,715)
Increase (decrease) in short-term borrowings	100,000	(440,000)
Net settlement of withholding taxes on the vesting of stock awards	(1,146)	0
Proceeds from employee stock purchase plan	200	200
Cash dividends paid	(608)	(9,999)
Net cash provided by (used in) financing activities	(850,063)	(470,985)
Net Increase (Decrease) in Cash and Cash Equivalents	(69,950)	(376,147)
Cash and Cash Equivalents at Beginning of Period	695,693	633,480
Cash and Cash Equivalents at End of Period	625,743	257,333
Supplemental Cash Flows Information:
Interest paid	135,577	175,450
Income taxes paid	0	1,460
Supplemental Non-Cash Disclosures:
Initial recognition of operating lease right-of-use assets	1,606	15,838
Transfer of loans held for investment to loans held for sale	$ 238,485	$ 37,576

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 13,394	$ 11,692
Interest-bearing deposits with banks and other short-term investments	612,349	684,001
Investment securities available-for-sale (amortized cost of $984,607 and $1,055,146, respectively, and allowance for credit losses of $0 and $0, respectively)	904,183	976,770
Investment securities held-to-maturity, net of allowance for credit losses of $454 and $1,030, respectively (fair value of $730,994 and $774,947, respectively)	814,878	854,780
Federal Reserve and Federal Home Loan Bank stock	32,500	28,327
Loans held for sale, at lower of cost or fair value	49,663	90,650
Loans held for investment, at amortized cost	6,622,435	7,280,459
Less: Allowance for credit losses	(121,141)	(159,604)
Loans held for investment, net of allowance	6,501,294	7,120,855
Premises and equipment, net	13,239	12,800
Right-of-use assets - operating leases	27,964	28,451
Deferred income taxes	134,077	132,330
Bank-owned life insurance	345,469	335,177
Other real estate owned	1,966	2,059
Other assets	207,938	219,311
Total Assets	9,658,914	10,497,203
Deposits:
Noninterest-bearing demand	1,567,336	1,433,952
Interest-bearing transaction	973,651	1,038,154
Savings and money market	3,061,987	3,624,813
Time deposits	2,582,123	3,036,687
Total deposits	8,185,097	9,133,606
Other short-term borrowings	100,000	0
Long-term borrowings	76,593	76,428
Operating lease liabilities	35,081	35,256
Reserve for unfunded commitments	3,319	5,090
Other liabilities	108,318	115,540
Total Liabilities	8,508,408	9,365,920
Shareholders’ Equity
Common stock, par value 0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,490,409 and 30,359,632, respectively	302	300
Additional paid-in capital	385,082	382,499
Retained earnings	858,601	837,643
Accumulated other comprehensive income (loss)	(93,479)	(89,159)
Total Shareholders’ Equity	1,150,506	1,131,283
Total Liabilities and Shareholders’ Equity	$ 9,658,914	$ 10,497,203