Eagle Bancorp, Inc. Announces Third Quarter 2026 Results

(MENAFN- GlobeNewsWire - Nasdaq) BETHESDA, Md., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. ("Eagle" or the "Company") (NASDAQ: EGBN), the Bethesda-based holding company for EagleBank (the "Bank"), one of the largest community banks in the Washington D.C. area, reported its unaudited results for the third quarter ended September 30, 2026.

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

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

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

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

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on November 17, 2026 to shareholders of record on November 6, 2026.

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

Third Quarter of 2026 Key Elements

• The Company announces today the declaration of a common stock dividend of $0.01 per share.
• Total C&I loans (including owner-occupied) increased $536.5 million, or 19.54%, year-over-year, and period end C&I deposit growth totaled $111.1 million, or 6.43%. The growth in deposits reflects the continued development of our banking relationships and supports our focus on relationship-based banking.
• As of the current quarter-end, the Company's CRE concentration ratio was 245.8% compared to 267.6% the prior quarter. ADC concentration was 62.2% compared to 66.2% in the prior quarter. These reductions reflect continued portfolio diversification and position the Company to pursue growth opportunities from a position of strength.
• The ACL as a percentage of total loans was 1.84% at quarter-end; up from 1.83% at the prior quarter-end as specific reserves for non-performing loans increased and the qualitative reserve for performing CRE office loans ("office overlay") declined. Performing office coverage² was 4.86% at quarter-end; as compared to 7.22% at the prior quarter-end, as the CRE office portfolio decreased and asset quality indicators improved.
• Non-performing assets increased by $52.9 million to $166.0 million as of September 30, 2026, representing 1.75% of total assets, compared to $113.1 million, representing 1.17% of total assets as of June 30, 2026. During the quarter, non-performing loan inflows totaled $73.7 million, 76.0% of which resulted from a single loan migration. Reductions of $18.8 million primarily reflected pay-offs and underlying collateral liquidations.
• Including loans held for sale, substandard and special mention loans totaled $648.4 million at September 30, 2026, compared to $759.6 million in the prior quarter. Substandard and special mention loans held for sale totaled $13.5 million and $25.6 million at September 30, 2026 and June 30, 2026, respectively.
• Annualized quarterly net charge-offs for the third quarter of 2026 were 0.25% compared to 2.78% for the second quarter of 2026. Charge offs during the quarter declined due to less disposition activity related to classified assets.
• The net interest margin ("NIM") increased to 2.60% for the third quarter of 2026, compared to 2.52% for the prior quarter, primarily driven by improved funding mix as reduced brokered deposit usage lowered cost of funds. This improvement was partially offset by lower interest income from declines in loan balances.
• At quarter-end, the common equity ratio, tangible common equity ratio¹, and common equity tier 1 capital (to risk-weighted assets) ratio were 12.24%, 12.24%, and 14.99%, respectively.

¹ A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.
²Calculated as the ACL attributable to loans collateralized by performing office properties as a percentage of total performing office loans.

Income Statement

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

Loans and Funding

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

Asset Quality

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

Capital

• Total shareholders' equity was $1.2 billion at September 30, 2026, up 0.7% from the prior quarter-end. The increase in shareholders' equity was primarily due to quarterly net income that increased capital, partially offset by higher unrealized losses on investment securities available-for-sale resulting in an increase in the accumulated other comprehensive loss.
• Book value per share and tangible book value per share ³ were $38.00 and $38.00, an increase of 0.7% from the prior quarter-end.

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

Additional financial information: The financial information that follows provides more detail on the Company's financial performance for the three months ended September 30, 2026 as compared to the three months ended June 30, 2026 and September 30, 2025, as well as eight quarters of trend data. Persons wishing additional information should refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the SEC.

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

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

The listen-only webcast can be accessed at:

• For analysts who wish to participate in the conference call, please register at the following URL:

• A replay of the conference call will be available on the Company's website through Thursday, November 5, 2026:

Forward-looking statements: This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events, financial condition, asset quality or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as "may," "will," "can," "anticipates," "believes," "expects," "plans," "strategy," "estimates," "potential," "continue," "should," "could," "strive," "feel" and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company's market (including reductions in the size of the federal government workforce; changes in government spending; the economic effects of an extended government shutdown; the proposal, announcement or imposition of tariffs; volatility in interest rates and interest rate, monetary and fiscal policy; inflation levels; competitive factors; our ability to access cost-effective funding) and other conditions (such as the impact of bank failures, credit losses or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks), which by their nature are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and in other periodic and current reports filed with the SEC, including the Company's Quarterly Reports on Form 10-Q. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance. All information is as of the date of this press release. Any forward-looking statements made by or on behalf of the Company speak only as to the date they are made. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

Eagle Bancorp, Inc.
Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share data)
	Three Months Ended
	September 30,		June 30,		September 30,
		2026				2026			2025
Interest Income
Interest and fees on loans	$	102,260			$	106,358		$	123,704
Interest and dividends on investment securities		9,898				9,243			10,527
Interest on balances with other banks and short-term investments		9,434				10,978			15,872
Total interest income		121,592				126,579			150,103
Interest Expense
Interest on deposits		58,195				61,623			79,385
Interest on customer repurchase agreements		-				-			202
Interest on other short-term borrowings		64				582			332
Interest on long-term borrowings		2,024				2,024			2,025
Total interest expense		60,283				64,229			81,944
Net Interest Income		61,309				62,350			68,159
Provision for Credit Losses		2,809				21,448			113,215
Provision (Reversal) for Credit Losses for Unfunded Commitments		10				8			(38	)
Net Interest Income (Loss) After Provision for Credit Losses		58,490				40,894			(45,018	)
Noninterest Income
Service charges on deposits		1,794				1,733			1,773
Gain (loss) on sale of loans		-				2,291			(3,550	)
Net gain (loss) on sale of investment securities		21				266			(1,982	)
Increase in cash surrender value of bank-owned life insurance		5,773				5,672			5,293
Other income		1,976				797			961
Total noninterest income		9,564				10,759			2,495
Noninterest Expense
Salaries and employee benefits		28,274				23,366			21,290
Premises and equipment expenses		2,331				2,445			2,944
Marketing and advertising		1,474				1,161			1,316
Data processing		4,090				4,257			3,950
Legal, accounting and professional fees		4,046				4,783			2,396
FDIC insurance		2,811				4,862			6,665
Other expenses		4,075				3,154			3,336
Total noninterest expense		47,101				44,028			41,897
Income (Loss) Before Income Tax Expense		20,953				7,625			(84,420	)
Income Tax Expense (Benefit)		(3,293	)			707			(16,907	)
Net Income (Loss)	$	24,246			$	6,918		$	(67,513	)
Earnings (Loss) Per Common Share
Basic	$	0.80			$	0.23		$	(2.22	)
Diluted	$	0.79			$	0.23		$	(2.22	)

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

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

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

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Prior Quarter (Unaudited)
(Dollars in thousands)
	Three Months Ended
	September 30, 2026		June 30, 2026
	Average Balance		Interest		Average Yield/Rate		Average Balance		Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,057,929			$	9,434		3.54	%		$	1,226,640			$	10,978		3.59	%
Loans held for sale(1)		20,925				38		0.72	%			40,356				910		9.04	%
Loans(1) (2)		6,524,107				102,222		6.22	%			6,888,734				105,448		6.14	%
Investment securities available-for-sale(2)		956,701				5,654		2.34	%			950,891				5,147		2.17	%
Investment securities held-to-maturity(2)		807,289				4,244		2.09	%			830,921				4,096		1.98	%
Total interest earning assets		9,366,951				121,592		5.15	%			9,937,542				126,579		5.11	%
Noninterest earning assets		738,945								737,466
Less: allowance for credit losses		(123,338	)							(151,328	)
Total noninterest earning assets		615,607								586,138
Total Assets	$	9,982,558							$	10,523,680
Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,273,097			$	8,414		2.62	%		$	1,447,015			$	9,379		2.60	%
Savings and money market		2,955,588				22,465		3.02	%			3,194,094				24,139		3.03	%
Time deposits		2,638,082				27,244		4.10	%			2,683,953				28,044		4.19	%
Total interest bearing deposits		6,866,767				58,123		3.36	%			7,325,062				61,562		3.37	%
Derivative collateral liability		25,874				72		1.10	%			14,834				61		1.62	%
Other short-term borrowings		6,524				64	​	3.89	%			60,440				582		3.87	%
Long-term borrowings		76,647				2,024		10.48	%			76,566				2,024		10.60	%
Total interest bearing liabilities		6,975,812				60,283		3.43	%			7,476,902				64,229		3.45	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,709,922								1,760,058
Other liabilities		132,953								133,356
Total noninterest bearing liabilities		1,842,875								1,893,414
Shareholders' equity		1,163,871								1,153,364
Total Liabilities and Shareholders' Equity	$	9,982,558							$	10,523,680
Net interest income			$	61,309						$	62,350
Net interest spread					1.72	%						1.66	%
Net interest margin					2.60	%						2.52	%
Cost of funds					2.75	%						2.79	%

⁽¹⁾Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $2.9 million and $3.9 million for the three months ended September 30, 2026 and June 30, 2026, respectively.
⁽²⁾Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.
Consolidated Average Balances, Interest Yields And Rates vs. Year Ago Quarter (Unaudited)
(Dollars in thousands)
	Three Months Ended September 30,
		2026				2025
	Average Balance		Interest		Average Yield/Rate		Average Balance		Interest		Average Yield/Rate
Assets
Interest earning assets:
Interest-bearing deposits with other banks and other short-term investments	$	1,057,929			$	9,434		3.54	%		$	1,449,871			$	15,974		4.37	%
Loans held for sale(1)		20,925				38		0.72	%			19,441				389		7.94	%
Loans(1) (2)		6,524,107				102,222		6.22	%			7,648,459				123,315		6.40	%
Investment securities available-for-sale(2)		956,701				5,654		2.34	%			1,134,993				5,866		2.05	%
Investment securities held-to-maturity(2)		807,289				4,244		2.09	%			884,779				4,661		2.09	%
Total interest earning assets		9,366,951				121,592		5.15	%			11,137,543				150,205		5.35	%
Noninterest earning assets		738,945								658,014
Less: allowance for credit losses		(123,338	)							(198,158	)
Total noninterest earning assets		615,607								459,856
Total Assets	$	9,982,558							$	11,597,399
Liabilities and Shareholders' Equity
Interest bearing liabilities:
Interest-bearing transaction	$	1,273,097			$	8,414		2.62	%		$	1,391,316			$	10,824		3.09	%
Savings and money market		2,955,588				22,465		3.02	%			3,576,595				30,875		3.42	%
Time deposits		2,638,082				27,244		4.10	%			3,312,333				37,686		4.51	%
Total interest bearing deposits		6,866,767				58,123		3.36	%			8,280,244				79,385		3.80	%
Customer repurchase agreements		-				-	​	-	%			25,557				202		3.14	%
Derivative collateral liability		25,874				72		1.10	%			9,225				102		4.39	%
Other short-term borrowings		6,524				64		3.89	%			29,350				332		4.49	%
Long-term borrowings		76,647				2,024		10.48	%			76,318				2,025		10.52	%
Total interest bearing liabilities		6,975,812				60,283		3.43	%			8,420,694				82,046		3.87	%
Noninterest bearing liabilities:
Noninterest bearing demand		1,709,922								1,882,971
Other liabilities		132,953								111,586
Total noninterest bearing liabilities		1,842,875								1,994,557
Shareholders' equity		1,163,871								1,182,148
Total Liabilities and Shareholders' Equity	$	9,982,558							$	11,597,399
Net interest income			$	61,309						$	68,159
Net interest spread					1.72	%						1.48	%
Net interest margin					2.60	%						2.43	%
Cost of funds					2.75	%						3.16	%

⁽¹⁾Loans placed on non-accrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $2.9 million and $3.7 million for the three months ended September 30, 2026 and 2025, respectively.
⁽²⁾Interest and fees on loans and investments exclude tax equivalent adjustments.

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

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

GAAP Reconciliation to Non-GAAP Financial Measures (unaudited)
(dollars in thousands, except per share data)
	Three Months Ended
	September 30,	June 30,	September 30,
		2026		2026		2025
Tangible common equity
Common shareholders' equity	$	1,158,401			$	1,150,506			$	1,123,476
Less: Intangible assets		-				-				-
Tangible common equity	$	1,158,401			$	1,150,506			$	1,123,476
Tangible common equity ratio
Total assets	$	9,464,298			$	9,658,914			$	10,815,502
Less: Intangible assets		-				-				-
Tangible assets	$	9,464,298			$	9,658,914			$	10,815,502
Tangible common equity ratio		12.24	%			11.91	%			10.39	%
Per share calculations
Book value per common share	$	38.00			$	37.73			$	37.00
Less: Intangible book value per common share	$	-			$	-			$	-
Tangible book value per common share	$	38.00			$	37.73			$	37.00
Shares outstanding at period end		30,480,480				30,490,409				30,366,555

Average tangible common equity
Average common shareholders' equity		$	1,163,871			$	1,153,364			$	1,182,148
Less: Average intangible assets			-				-				-
Average tangible common equity		$	1,163,871			$	1,153,364			$	1,182,148
Return on average tangible common equity
Net (loss) income		$	24,246			$	6,918			$	(67,513	)
Return on average tangible common equity			8.26	%			2.41	%		(22.66) %
Pre-provision net revenue
Net interest income		$	61,309			$	62,350			$	68,159
Noninterest income			9,564				10,759				2,495
Less: Noninterest expense			(47,101	)			(44,028	)			(41,897	)
Pre-provision net revenue		$	23,772			$	29,081			$	28,757

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

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

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

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

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