BETHESDA, Md., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. ("Eagle" or the "Company") (NASDAQ:EGBN), the Bethesda-based holding company for EagleBank, one of the largest community banks in the Washington D.C. area, reported its unaudited results for the fourth quarter ended December 31, 2025.

Eagle reported a net income of $7.6 million or $0.25 per share for the fourth quarter 2025, compared to a net loss of $67.5 million or $(2.22) per share for the third quarter. The $75.1 million improvement from the prior quarter is primarily due to a $97.7 million decrease in provision expense, offset by a $14.3 million reduction in the tax benefit. In the quarter, net interest income increased by $0.1 million, noninterest income increased by $9.7 million, and noninterest expenses increased by $17.9 million.

Pre-provision net revenue ("PPNR")¹ in the fourth quarter was $20.7 million compared to $28.8 million for the prior quarter. The decrease is primarily due to a $17.9 million increase in noninterest expense, which was driven by higher costs associated with the disposition of certain loans held for sale ("HFS") and valuation adjustment on the remaining HFS portfolio.

"The quarter marked a return to profitability, supported by a lower provision expense as we continued to execute on credit risk reduction actions," said Susan G. Riel, President, and Chief Executive Officer of the Company. "We are encouraged by our early progress and remain focused on our efforts to improve results. We will remain disciplined in executing on asset disposition strategies that are reducing exposures and improving overall credit quality."

Ms. Riel added, "Building on the funding progress made in 2025, we will remain committed to improving our funding mix in 2026 to drive stronger pre-provision net revenue and improved returns. We are repositioning the balance sheet for more durable performance — reducing concentrations to commercial real estate and construction loans, improving criticized and classified trends, and continuing to decrease held-for-sale exposure through planned first-quarter dispositions that lower mark-to-market sensitivity."

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on February 13, 2026 to shareholders of record on February 2, 2026.

Fourth Quarter of 2025 Key Elements

The Company announces today the declaration of a common stock dividend of $0.01 per share.
Total C&I loans (including owner-occupied) increased $301.0 million or 10.95%, and average C&I deposits increased $367.0 million, or 22.30% from the previous quarter.
The ACL as a percentage of total loans was 2.19% at quarter-end; up from 2.14% at the prior quarter-end. Performing office coverage² was 12.89% at quarter-end; as compared to 11.36% at the prior quarter-end.
Nonperforming assets decreased by $24.4 million to $108.9 million as of December 31, 2025, representing 1.04% of total assets, compared to $133.3 million, representing 1.23% of total loans as of September 30, 2025. During the quarter, nonperforming loan inflows totaled $26.1 million. Reductions of $50.5 million reflected underlying collateral liquidations, disposition of other real estate owned ("OREO") and sales of loans.
Substandard and special mention loans totaled $783.4 million at December 31, 2025, compared to $958.5 million in the prior quarter.
Annualized quarterly net charge-offs for the fourth quarter of 2025 were 0.67% compared to 7.36% for the third quarter of 2025.
The net interest margin ("NIM") decreased to 2.38% for the fourth quarter of 2025, compared to 2.43% for the prior quarter, primarily driven by a mix shift between loans and cash, partially offset by improved time deposit cost from reduced brokered time deposit usage.
At quarter-end, the common equity ratio, tangible common equity ratio¹, and common equity tier 1 capital (to risk-weighted assets) ratio were 10.87%, 10.87%, and 13.83%, respectively.
Total estimated insured deposits decreased at quarter-end to $6.9 billion, representing 75.3% of deposits, compared to $7.2 billion, or 75.6% in the prior quarter.
Total on-balance sheet liquidity and available capacity was $4.7 billion, compared to $2.3 billion in uninsured deposits, resulting in a coverage ratio of over 199%

Income Statement

Net interest income was relatively flat at $68.3 million for the fourth quarter of 2025, compared to $68.2 million for the prior quarter. Both interest income and interest expense declined during the quarter, reflecting the impact of lower market rates and declining average balances.
Provision for credit losses was $15.5 million for the fourth quarter of 2025, compared to $113.2 million for the prior quarter. The decrease was primarily driven by lower charge-offs compared to prior quarter. Net charge-offs totaled $12.3 million, a decrease from $140.8 million in the prior quarter. The provision related to the reserve for unfunded commitments was $203 thousand, compared to a reversal of $38 thousand in the prior quarter.
Noninterest income was $12.2 million for the fourth quarter of 2025, compared to $2.5 million for the prior quarter. The increase was primarily driven by losses in the third quarter that did not reoccur in the fourth quarter, and an increase in other income as a result of SBIC investments and gains on sale of OREO during the quarter.
Noninterest expense was $59.8 million for the fourth quarter of 2025, compared to $41.9 million for the prior quarter. The increase over the linked quarter was primarily due to $6.3 million in higher costs associated with the disposition of certain HFS loans and $8.4 million in valuation adjustment on the remaining HFS portfolio.
Income tax benefit was $2.6 million for the fourth quarter of 2025, compared to a $19.9 million benefit for the prior quarter. The Company had income tax benefit, despite a profitable fourth quarter, primarily due to tax credit purchase and tax equity investments during the quarter that generated $3.6 million in tax benefits.

Loans and Funding

Total loans, including loans held for sale, were $7.4 billion at December 31, 2025, a decrease of 1% from the prior quarter-end. The decrease in total loans was primarily driven by declines in income-producing real estate loans, partially offset by an increase in commercial and industrial loans.
Total deposits at quarter-end were $9.1 billion, down $0.3 billion, or 4%, from the prior quarter-end. The decrease was primarily driven by lower balances in brokered time deposit accounts and noninterest bearing deposits. Deposits increased $2.5 million compared to December 31, 2024.

Asset Quality

Allowance for credit losses was 2.19% of total loans held for investment at December 31, 2025, compared to 2.14% at the prior quarter-end. Performing office coverage was 12.89% at quarter-end; as compared to 11.36% at the prior quarter-end.
Net charge-offs were $12.3 million for the quarter compared to $140.8 million in the third quarter of 2025.
Nonperforming assets were $108.9 million at December 31, 2025.
- NPAs as a percentage of assets were 1.04% at December 31, 2025, compared to 1.23% at the prior quarter-end. At December 31, 2025, OREO consisted of three properties with an aggregate carrying value of $2.1 million.
- Loans 30-89 days past due were $49.9 million at December 31, 2025, compared to $29.1 million at the prior quarter-end.

Capital

Total shareholders' equity was $1.1 billion at December 31, 2025, up 1.6% from the prior quarter-end. The increase in shareholders' equity of $17.8 million was primarily due to quarterly income that increased capital.
Book value per share and tangible book value per share³ were $37.59 and $37.59, an increase of 1.6% 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 December 31, 2025 as compared to the three months ended September 30, 2025 and December 31, 2024, as well as eight quarters of trend data. Persons wishing additional information should refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and other reports filed with the SEC.

About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and operates through twelve banking offices and four lending offices located in Suburban Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace, and is committed to a culture of respect, opportunity, belonging, and inclusion in both its workplace and the communities in which it operates.

Conference call: Eagle Bancorp will host a conference call to discuss its fourth quarter of 2025 financial results on Thursday, January 22, 2026 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

https://edge.media-server.com/mmc/p/35j4x675/
For analysts who wish to participate in the conference call, please register at the following URL:

https://register-conf.media-server.com/register/BI89ddf0d53da24dc0bc55096224de408f

A replay of the conference call will be available on the Company's website through Thursday, February 5, 2026: https://www.eaglebankcorp.com/

Forward-looking statements: This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events, financial condition, asset quality or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as "may," "will," "can," "anticipates," "believes," "expects," "plans," "strategy," "estimates," "potential," "continue," "should," "could," "strive," "feel" and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company's market (including reductions in the size of the federal government workforce; changes in government spending; the economic effects of an extended government shutdown; the proposal, announcement or imposition of tariffs; volatility in interest rates and interest rate, monetary and fiscal policy; inflation levels; competitive factors; our ability to access cost-effective funding) and other conditions (such as the impact of bank failures, credit losses or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks), which by their nature are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic and current reports filed with the SEC, including the Company's Quarterly Reports on Form 10-Q. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance. All information is as of the date of this press release. Any forward-looking statements made by or on behalf of the Company speak only as to the date they are made. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

Eagle Bancorp, Inc.
Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share data)

	Three Months Ended
	December 31,			September 30,			December 31,
		2025			2025			2024
Interest Income
Interest and fees on loans	$	119,744		$	123,704		$	132,943
Interest and dividends on investment securities		10,083			10,527			12,307
Interest on balances with other banks and short-term investments		19,699			15,872			23,167
Total interest income		149,526			150,103			168,417
Interest Expense
Interest on deposits		79,147			79,385			83,002
Interest on customer repurchase agreements		52			202			294
Interest on other short-term borrowings		—			332			9,530
Interest on long-term borrowings		2,024			2,025			4,797
Total interest expense		81,223			81,944			97,623
Net Interest Income		68,303			68,159			70,794
Provision for Credit Losses		15,468			113,215			12,132
Provision (Reversal) for Credit Losses for Unfunded Commitments		203			(38	)		(1,598	)
Net Interest Income (Loss) After Provision for Credit Losses		52,632			(45,018	)		60,260

Noninterest Income
Service charges on deposits		1,840			1,773			1,744
Gain (loss) on sale of loans		(1,137	)		(3,550	)		—
Net gain (loss) on sale of investment securities		9			(1,982	)		4
Increase in cash surrender value of bank-owned life insurance		5,636			5,293			742
Other income		5,844			961			1,577
Total noninterest income		12,192			2,495			4,067
Noninterest Expense
Salaries and employee benefits		22,661			21,290			22,597
Premises and equipment expenses		2,861			2,944			2,635
Marketing and advertising		1,185			1,316			1,340
Data processing		4,353			3,950			3,870
Legal, accounting and professional fees		3,100			2,396			641
FDIC insurance		7,709			6,665			9,281
Other expenses		17,968			3,336			4,168
Total noninterest expense		59,837			41,897			44,532
Income (Loss) Before Income Tax Expense		4,987			(84,420	)		19,795
Income Tax Expense (Benefit)		(2,574	)		(16,907	)		4,505
Net Income (Loss)	$	7,561		$	(67,513	)	$	15,290

Earnings (Loss) Per Common Share
Basic	$	0.25		$	(2.22	)	$	0.51
Diluted	$	0.25		$	(2.22	)	$	0.50

Eagle Bancorp, Inc.
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share data)
	December 31,			September 30,			December 31,
		2025			2025			2024
Assets
Cash and due from banks	$	11,692		$	9,395		$	14,463
Interest-bearing deposits with banks and other short-term investments		684,001			841,372			619,017
Investment securities available-for-sale at fair value (amortized cost of $1,055,146, $1,161,644, and $1,408,935 respectively, and allowance for credit losses of $—, $—, and $22, respectively)		976,770			1,073,412			1,267,404
Investment securities held-to-maturity at amortized cost, net of allowance for credit losses of $1,030, $1,199, and $1,306 respectively (fair value of $774,947, $786,662, and $820,382 respectively)		854,780			872,418			938,647
Federal Reserve and Federal Home Loan Bank stock		28,327			28,306			51,763
Loans held for sale, at lower of cost or fair value		90,650			136,506			—
Loans held for investment, at amortized cost		7,280,459			7,304,679			7,934,888
Less: allowance for credit losses		(159,604	)		(156,228	)		(114,390	)
Loans held for investment, net of allowance		7,120,855			7,148,451			7,820,498
Premises and equipment, net		12,800			10,503			7,694
Operating lease right-of-use assets		28,451			29,791			18,494
Deferred income taxes		132,330			77,362			91,472
Bank-owned life insurance		335,177			330,426			115,806
Other real estate owned		2,059			14,684			2,743
Other assets		219,311			242,876			181,491
Total Assets	$	10,497,203		$	10,815,502		$	11,129,508
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing demand	$	1,433,952		$	1,577,197		$	1,544,403
Interest-bearing transaction		1,038,154			932,500			1,211,791
Savings and money market		3,624,813			3,702,579			3,599,221
Time deposits		3,036,687			3,251,283			2,775,663
Total deposits		9,133,606			9,463,559			9,131,078
Customer repurchase agreements		—			13,725			33,157
Other short-term borrowings		—			—			490,000
Long-term borrowings		76,428			76,346			76,108
Operating lease liabilities		35,256			36,278			23,815
Reserve for unfunded commitments		5,090			4,886			3,463
Other liabilities		105,540			97,232			145,826
Total Liabilities		9,355,920			9,692,026			9,903,447
Shareholders' Equity
Common stock, par value $0.01 per share; shares authorized 100,000,000, shares issued and outstanding 30,359,632, 30,366,555, and 30,202,003 respectively		300			300			298
Additional paid-in capital		391,204			389,305			384,932
Retained earnings		838,938			831,685			982,304
Accumulated other comprehensive loss		(89,159	)		(97,814	)		(141,473	)
Total Shareholders' Equity		1,141,283			1,123,476			1,226,061
Total Liabilities and Shareholders' Equity	$	10,497,203		$	10,815,502		$	11,129,508

Loan Mix and Asset Quality (Dollars in thousands)

	December 31,				September 30,				December 31,
		2025				2025				2024
	Amount		%		Amount		%		Amount		%
Loan Balances - Period End:
Commercial	$	1,338,486	18	%	$	1,217,908	17	%	$	1,183,628	15	%
Income producing - commercial real estate		3,350,718	45	%		3,453,033	47	%	$	4,064,846	51	%
Owner occupied - commercial real estate		1,657,963	23	%		1,494,711	20	%	$	1,269,669	16	%
Real estate mortgage - residential		37,100	1	%		44,684	1	%	$	50,535	1	%
Construction - commercial and residential		795,400	11	%		1,010,367	14	%	$	1,210,763	15	%
Construction - C&I (owner occupied)		52,629	1	%		33,378	—	%	$	103,259	1	%
Home equity		47,448	1	%		49,333	1	%	$	51,130	1	%
Other consumer		715	—	%		1,265	—	%	$	1,058	—	%
Total loans	$	7,280,459	100	%	$	7,304,679	100	%	$	7,934,888	100	%

	Three Months Ended or As Of
	December 31,		September 30,		December 31,
	2025		2025		2024
Asset Quality:
Nonperforming loans	$	106,834	$	118,647	$	208,706
Other real estate owned		2,059		14,684		2,743
Nonperforming assets	$	108,893	$	133,331	$	211,449
Net charge-offs	$	12,259	$	140,814	$	9,535
Special mention	$	268,881	$	423,685	$	244,807
Substandard	$	514,497	$	534,789	$	426,366

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

	Three Months Ended
	December 31, 2025							September 30, 2025
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,997,019		$	19,770	3.93	%	$	1,449,871		$	15,974	4.37	%
Loans held for sale⁽¹⁾		135,981			1,626	4.74	%		19,441			389	7.94	%
Loans^{(1) (2)}		7,338,320			118,118	6.39	%		7,648,459			123,315	6.40	%
Investment securities available-for-sale⁽²⁾		1,050,620			5,501	2.08	%		1,134,993			5,866	2.05	%
Investment securities held-to-maturity⁽²⁾		867,222			4,582	2.10	%		884,779			4,661	2.09	%
Total interest earning assets		11,389,162			149,597	5.21	%		11,137,543			150,205	5.35	%

Noninterest earning assets		733,464							658,014
Less: allowance for credit losses		(157,925	)						(198,158	)
Total noninterest earning assets		575,539							459,856
Total Assets	$	11,964,701						$	11,597,399

Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,574,757		$	11,055	2.79	%	$	1,391,316		$	10,824	3.09	%
Savings and money market		3,931,453			33,040	3.33	%		3,576,595			30,875	3.42	%
Time deposits		3,163,520			35,052	4.40	%		3,312,333			37,686	4.51	%
Total interest bearing deposits		8,669,730			79,147	3.62	%		8,280,244			79,385	3.80	%
Customer repurchase agreements		6,656			53	3.16	%		25,557			202	3.14	%
Derivative collateral liability		6,200			70	4.48	%		9,225			102	4.39	%
Other short-term borrowings		—			—	—	%		29,350			332	4.49	%
Long-term borrowings		76,400			2,024	10.51	%		76,318			2,025	10.52	%
Total interest bearing liabilities		8,758,986			81,294	3.68	%		8,420,694			82,046	3.87	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,920,522							1,882,971
Other liabilities		144,680							111,586
Total noninterest bearing liabilities		2,065,202							1,994,557
Shareholders' equity		1,140,513							1,182,148
Total Liabilities and Shareholders' Equity	$	11,964,701						$	11,597,399
Net interest income				$	68,303						$	68,159
Net interest spread						1.53	%						1.48	%
Net interest margin						2.38	%						2.43	%
Cost of funds						3.02	%						3.16	%

⁽¹⁾	Loans placed on nonaccrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.9 million and $3.7 million for the three months ended December 31, 2025 and September 30, 2025, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

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

	Three Months Ended December 31,
		2025							2024
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,997,019		$	19,770	3.93	%	$	1,961,275		$	23,167	4.70	%
Loans held for sale⁽¹⁾		135,981			1,626	4.74	%		—			—	—	%
Loans^{(1) (2)}		7,338,320			118,118	6.39	%		7,971,907			132,943	6.63	%
Investment securities available-for-sale⁽²⁾		1,050,620			5,501	2.08	%		1,417,958			7,142	2.00	%
Investment securities held-to-maturity⁽²⁾		867,222			4,582	2.10	%		952,800			5,165	2.16	%
Total interest earning assets		11,389,162			149,597	5.21	%		12,303,940			168,417	5.45	%

Noninterest earning assets		733,464							386,014
Less: allowance for credit losses		(157,925	)						(114,232	)
Total noninterest earning assets		575,539							271,782
Total Assets	$	11,964,701						$	12,575,722

Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,574,757		$	11,055	2.79	%	$	1,674,997		$	13,048	3.10	%
Savings and money market		3,931,453			33,040	3.33	%		3,648,502			35,262	3.84	%
Time deposits		3,163,520			35,052	4.40	%		2,804,870			34,692	4.92	%
Total interest bearing deposits		8,669,730			79,147	3.62	%		8,128,369			83,002	4.06	%
Customer repurchase agreements		6,656			53	3.16	%		38,750			294	3.02	%
Derivative collateral liability		6,200			70	4.48	%		—			—	—	%
Other short-term borrowings		—			—	—	%		1,003,587			12,296	4.87	%
Long-term borrowings		76,400			2,024	10.51	%		75,939			2,031	10.64	%
Total interest bearing liabilities		8,758,986			81,294	3.68	%		9,246,645			97,623	4.20	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,920,522							1,928,094
Other liabilities		144,680							170,411
Total noninterest bearing liabilities		2,065,202							2,098,505
Shareholders' equity		1,140,513							1,230,573
Total Liabilities and Shareholders' Equity	$	11,964,701						$	12,575,723
Net interest income				$	68,303						$	70,794
Net interest spread						1.53	%						1.25	%
Net interest margin						2.38	%						2.29	%
Cost of funds						3.02	%						3.48	%

⁽¹⁾	Loans placed on nonaccrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.9 million and $4.3 million for the three months ended December 31, 2025 and 2024, respectively.
⁽²⁾	Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Statements of Operations and Highlights Quarterly Trends (Unaudited)
(Dollars in thousands, except per share data)
	Three Months Ended
	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024			March 31, 2024
Income Statements:
Total interest income	$	149,526		$	150,103		$	151,443		$	153,878		$	168,417		$	173,813		$	169,731		$	175,602
Total interest expense		81,223			81,944			83,667			88,229			97,623			101,970			98,378			100,904
Net interest income		68,303			68,159			67,776			65,649			70,794			71,843			71,353			74,698
Provision for credit losses		15,468			113,215			138,159			26,255			12,132			10,094			8,959			35,175
Provision (reversal) for credit losses for unfunded commitments		203			(38	)		1,759			(297	)		(1,598	)		(1,593	)		608			456
Net interest income after provision for credit losses		52,632			(45,018	)		(72,142	)		39,691			60,260			63,342			61,786			39,067
Noninterest income before investment gain		12,183			4,477			8,268			8,203			4,063			6,948			5,329			3,585
Net gain (loss) on sale of investment securities		9			(1,982	)		(1,854	)		4			4			3			3			4
Total noninterest income		12,192			2,495			6,414			8,207			4,067			6,951			5,332			3,589
Salaries and employee benefits		22,661			21,290			21,940			21,968			22,597			21,675			21,770			21,726
Premises and equipment expenses		2,861			2,944			3,019			3,203			2,635			2,794			2,894			3,059
Marketing and advertising		1,185			1,316			1,144			1,371			1,340			1,588			1,662			859
Goodwill impairment		—			—			—			—			—			—			104,168			—
Other expenses		33,130			16,347			17,367			18,909			17,960			17,557			15,997			14,353
Total noninterest expense		59,837			41,897			43,470			45,451			44,532			43,614			146,491			39,997
Income (loss) before income tax expense		4,987			(84,420	)		(109,198	)		2,447			19,795			26,679			(79,373	)		2,659
Income tax expense		(2,574	)		(16,907	)		(39,423	)		772			4,505			4,864			4,429			2,997
Net income (loss)		7,561			(67,513	)		(69,775	)		1,675			15,290			21,815			(83,802	)		(338	)
Per Share Data:
Earnings (loss) per weighted average common share, basic	$	0.25		$	(2.22	)	$	(2.30	)	$	0.06		$	0.51		$	0.72		$	(2.78	)	$	(0.01	)
Earnings (loss) per weighted average common share, diluted	$	0.25		$	(2.22	)	$	(2.30	)	$	0.06		$	0.50		$	0.72		$	(2.78	)	$	(0.01	)
Weighted average common shares outstanding, basic		30,368,432			30,367,997			30,373,167			30,275,001			30,199,433			30,173,852			30,185,609			30,068,173
Weighted average common shares outstanding, diluted		30,584,374			30,367,997			30,510,847			30,404,262			30,321,644			30,241,699			30,185,609			30,068,173
Actual shares outstanding at period end		30,359,632			30,366,555			30,364,983			30,368,843			30,202,003			30,173,200			30,180,482			30,185,732
Book value per common share at period end	$	37.59		$	37.00		$	39.03		$	40.99		$	40.60		$	40.61		$	38.75		$	41.72
Tangible book value per common share at period end⁽¹⁾	$	37.59		$	37.00		$	39.03		$	40.99		$	40.59		$	40.61		$	38.74		$	38.26
Dividend per common share	$	0.010		$	0.010		$	0.165		$	0.165		$	—		$	0.17		$	0.45		$	0.45
Performance Ratios (annualized):
Return on average assets		0.25	%	(2.31		)%	(2.33		)%		0.06	%		0.48	%		0.70	%	(2.73		)%	(0.01		)%
Return on average common equity		2.63	%	(22.66		)%	(22.35		)%		0.55	%		4.94	%		7.22	%	(26.67		)%	(0.11		)%
Return on average tangible common equity⁽¹⁾		2.63	%	(22.66		)%	(22.35		)%		0.55	%		4.94	%		7.22	%	(28.96		)%	(0.11		)%
Net interest margin		2.38	%		2.43	%		2.37	%		2.28	%		2.29	%		2.37	%		2.40	%		2.43	%
Efficiency ratio⁽¹⁾⁽²⁾		74.3	%		59.3	%		58.6	%		61.5	%		59.5	%		55.4	%		191.0	%		51.1	%
Other Ratios:
Allowance for credit losses to total loans⁽³⁾		2.19	%		2.14	%		2.38	%		1.63	%		1.44	%		1.40	%		1.33	%		1.25	%
Allowance for credit losses to total nonperforming loans		149.39	%		131.67	%		81.17	%		64.59	%		54.81	%		83.25	%		110.06	%		108.76	%
Nonperforming assets to total assets		1.04	%		1.23	%		2.16	%		1.79	%		1.90	%		1.22	%		0.88	%		0.79	%
Net charge-offs (recoveries) (annualized) to average total loans⁽³⁾		0.67	%		7.36	%		4.22	%		0.57	%		0.48	%		0.26	%		0.11	%		1.07	%
Tier 1 capital (to average assets)		10.17	%		10.40	%		10.63	%		11.11	%		10.74	%		10.77	%		10.58	%		10.26	%
Total capital (to risk weighted assets)		15.09	%		14.83	%		15.27	%		15.86	%		15.86	%		15.51	%		15.07	%		14.87	%
Common equity tier 1 capital (to risk weighted assets)		13.83	%		13.58	%		14.01	%		14.61	%		14.63	%		14.30	%		13.92	%		13.80	%
Tangible common equity ratio⁽¹⁾		10.87	%		10.39	%		11.18	%		11.00	%		11.02	%		10.86	%		10.35	%		10.03	%
Average Balances (in thousands):
Total assets	$	11,964,701		$	11,597,399		$	11,989,095		$	12,118,190		$	12,575,722		$	12,360,899		$	12,361,500		$	12,784,470
Total earning assets	$	11,389,162		$	11,137,543		$	11,487,006		$	11,640,162		$	12,303,940		$	12,072,891		$	11,953,446		$	12,365,497
Total loans⁽³⁾	$	7,338,320		$	7,648,459		$	7,942,333		$	7,933,695		$	7,971,907		$	8,026,524		$	8,003,206		$	7,988,941
Total deposits	$	10,590,252		$	10,163,215		$	10,226,095		$	9,883,233		$	10,056,463		$	9,344,414		$	9,225,266		$	9,501,661
Total borrowings	$	83,056		$	131,225		$	355,914		$	794,940		$	1,118,276		$	1,654,736		$	1,721,283		$	1,832,947
Total shareholders' equity	$	1,140,513		$	1,182,148		$	1,252,252		$	1,242,805		$	1,230,573		$	1,201,477		$	1,263,627		$	1,289,656

(1)	A reconciliation of non-GAAP financial measures to the nearest GAAP measure is provided in the tables that accompany this document.
(2)	Computed by dividing noninterest expense by the sum of net interest income and noninterest income.
(3)	Excludes loans held for sale.

GAAP Reconciliation to Non-GAAP Financial Measures (unaudited)
(dollars in thousands, except per share data)
	Three Months Ended
	December 31,			September 30,			December 31,
	2025			2025			2024
Tangible common equity
Common shareholders' equity	$	1,141,283		$	1,123,476		$	1,226,061
Less: Intangible assets		—			—			(16	)
Tangible common equity	$	1,141,283		$	1,123,476		$	1,226,045

Tangible common equity ratio
Total assets	$	10,497,203		$	10,815,502		$	11,129,508
Less: Intangible assets		—			—			(16	)
Tangible assets	$	10,497,203		$	10,815,502		$	11,129,492

Tangible common equity ratio		10.87	%		10.39	%		11.02	%

Per share calculations
Book value per common share	$	37.59		$	37.00		$	40.60
Less: Intangible book value per common share	$	—		$	—		$	(0.01	)
Tangible book value per common share	$	37.59		$	37.00		$	40.59

Shares outstanding at period end		30,359,632			30,366,555			30,202,003

Average tangible common equity
Average common shareholders' equity	$	1,140,513		$	1,182,148		$	1,230,573
Less: Average intangible assets		—			—			(19	)
Average tangible common equity	$	1,140,513		$	1,182,148		$	1,230,554

Return on average tangible common equity
Net (loss) income	$	7,561		$	(67,513	)	$	15,290
Return on average tangible common equity		2.63	%	(22.66) %				4.94	%

Efficiency ratio
Net interest income	$	68,303		$	68,159		$	70,794
Noninterest income		12,192			2,495			4,067
Operating revenue	$	80,495		$	70,654		$	74,861
Noninterest expense	$	59,837		$	41,897		$	44,532

Efficiency ratio		74.34	%		59.30	%		59.49	%

Pre-provision net revenue
Net interest income	$	68,303		$	68,159		$	70,794
Noninterest income		12,192			2,495			4,067
Less: Noninterest expense		(59,837	)		(41,897	)		(44,532	)
Pre-provision net revenue	$	20,658		$	28,757		$	30,329

Tangible common equity, tangible common equity to tangible assets (the "tangible common equity ratio"), tangible book value per common share, average tangible common equity, and the annualized return on average tangible common equity are non-GAAP financial measures derived from GAAP based amounts. The Company calculates the tangible common equity ratio by excluding the balance of intangible assets from common shareholders' equity, or tangible common equity, and dividing by tangible assets. The Company calculates tangible book value per common share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which the Company calculates by dividing common shareholders' equity by common shares outstanding. The Company calculates the annualized return on average tangible common equity ratio by dividing net income available to common shareholders by average tangible common equity, which is calculated by excluding the average balance of intangible assets from the average common shareholders' equity. The Company considers this information important to shareholders as tangible equity is a measure that is consistent with the calculation of capital for bank regulatory purposes, which excludes intangible assets from the calculation of risk based ratios, and as such is useful for investors, regulators, management and others to evaluate capital adequacy and to compare against other financial institutions.

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

Pre-provision net revenue is a non-GAAP financial measure calculated by subtracting noninterest expenses from the sum of net interest income and noninterest income. The Company considers this information important to shareholders because it illustrates revenue excluding the impact of provisions and reversals to the allowance for credit losses on loans.

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1} A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

¹ A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.²

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

³ A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

EAGLE BANCORP, INC.

CONTACT:

Eric R. Newell

240.497.1796

For the December 31, 2025 Earnings Presentation, click 4Q2025 EGBN Earnings DECK 12-31-2025 FINAL.

Eagle Bancorp, Inc. Announces Fourth Quarter 2025 Results and Cash Dividend