Eagle Bancorp, Inc. (NASDAQ:EGBN) Q3 2023 Earnings Conference Call October 26, 2023 10:00 AM ET Company Participants Charles Levingston - Chief Financial Officer Susan Riel - President and Chief Executive Officer Janice Williams - Chief Credit Officer Conference Call Participants Catherine Mealor - KBW Casey Whitman - Piper Sandler Operator Good day, and thank you for standing by. Welcome to the Eagle Bancorp Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 0-25923 Eagle Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Eagle Bancorp, Inc. (NASDAQ:EGBN) Q2 2023 Earnings Conference Call July 27, 2023 10:00 AM ET Company Participants Charles Levingston - CFO Susan Riel - President & CEO Janice Williams - Chief Credit Officer Conference Call Participants Casey Whitman - Piper Sandler Christopher Marinac - Janney Montgomery Scott Catherine Mealor - KBW Operator Good day, and thank you for standing by. Welcome to the Eagle Bancorp Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only ...

(Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 0-25923 (Mark One) Eagle Bancorp, Inc. (State or other jurisdiction of ...

Financial Data and Key Metrics Changes - The company reported a decline in net interest margin from 3.14% to 2.77%, a decrease of 37 basis points [15] - The annualized noninterest expense as a percentage of average assets was 1.44%, up from 1.37% in the prior quarter [16] - The tangible common equity was $1.1 billion, representing 10.36% of tangible assets, which is relatively high compared to peers [27] Business Line Data and Key Metrics Changes - Loans increased by $102 million during the quarter, marking the sixth consecutive quarterly increase [28] - The allowance for credit losses (ACL) to total loans at quarter end was 1.01%, up from 0.97% in the previous quarter [11] - Nonperforming assets (NPAs) as a percentage of assets remained unchanged at 8 basis points, the lowest ratio since 2005 [10][28] Market Data and Key Metrics Changes - The unemployment rate in the Washington metropolitan area was reported at 3%, lower than the nationwide figure of 3.5% [30] - Total NPAs were $8.7 million, a modest increase of $288,000 over the prior quarter [31] - The company experienced a reduction in deposits, with approximately 70% of the decrease occurring before the industry turmoil that began on March 9 [34] Company Strategy and Development Direction - The company remains focused on disciplined loan growth and maintaining strong underwriting and risk management practices [28] - There is a commitment to controlling expenses, with a focus on operational efficiency to provide value to shareholders [9] - The company aims to add high-quality commercial loans to its portfolio, particularly in local commercial income-producing properties [12] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with first-quarter operating results but highlighted positive aspects such as capital strength and asset quality [7] - The company is cautious about credit quality and will continue to apply strong underwriting skills while seeking opportunities for growth [12] - Management noted that the current economic environment presents challenges but also opportunities for growth in the Washington, D.C. market [30] Other Important Information - The company returned $32.2 million in capital to shareholders during the first quarter [8] - The efficiency ratio climbed to 51.6%, primarily due to a lower net interest margin rather than an increase in noninterest expense [16] - The company closed its Alexandria, Virginia branch, reducing the number of banking locations to 15, which is expected to save nearly $200,000 in annual rental costs [37] Q&A Session Summary Question: What were the trends in deposit balances this quarter? - Management noted that while there were deposit outflows, they have seen a leveling off and have not lost deposit customers [21] Question: How are deposit costs trending? - The average rate on total interest-bearing deposits was 3.63%, with the highest money market yield at about 3.99% [66] Question: What is the status of classified loans this quarter? - There was a decline of about $700,000 in classified loans, and the watch list was reduced by $86 million [48] Question: How is the company addressing the challenges in the office market? - Management is proactively reaching out to commercial clients to understand the challenges facing their income-producing properties [32] Question: What is the company's approach to capital management and buybacks? - The company evaluates capital management and buyback strategies on a quarterly basis, balancing shareholder returns with capital conservation [56]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission file number: 0-25923 Eagle Bancorp, Inc. (Exact name of registrant as specified in its charter) Maryland 52-2061461 (State or other jurisdictio ...

Financial Data and Key Metrics Changes - In the fourth quarter, the company experienced strong loan growth of 4.5% from the prior quarter, marking the fifth consecutive quarterly increase [10] - Earnings for the quarter were $42.2 million, up 13.1% from the prior quarter, with fully diluted EPS increasing by 13.8% to $1.32 [51] - Net interest income improved marginally by $1.7 million, with interest income rising by $17.6 million due to higher loan rates and balances [22][49] - The cost of interest-bearing liabilities increased to 2.86%, up 111 basis points, while average interest-bearing liabilities decreased by $218.2 million [49] Business Line Data and Key Metrics Changes - The company maintained strong credit quality metrics, with nonperforming assets (NPAs) at 8 basis points, the lowest ratio since 2005 [43] - The average yield on loans was 5.7%, up 77 basis points, with average loans increasing by $96.6 million [22] - The provision reversal for the fourth quarter was largely driven by improved quantitative metrics, with a negative provision of $464,000 [17][44] Market Data and Key Metrics Changes - The unemployment rate in the Washington Metropolitan Statistical Area fell to 3.1% in November, compared to the nationwide figure of 3.5% in December [14] - The company reported unfunded commitments of $2.6 billion at quarter-end, up $120 million from the prior quarter-end [39] Company Strategy and Development Direction - The company remains focused on maintaining conservative underwriting standards while seeking opportunities in high-quality commercial loans [45] - The management emphasized a commitment to relationship banking and community service, particularly in the Washington D.C. market [5][54] - The company plans to continue stock repurchases, having bought back almost 740,000 shares at an average price of $44.82 per share [40][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating economic headwinds such as higher interest rates and inflation, highlighting the bank's strong market position [38][46] - The company anticipates continued loan growth and is well-positioned with a total risk-based capital of 14.99% [39] - Management noted that while there are concerns in the office market, particularly in the central business district, proactive outreach to clients is ongoing [41][75] Other Important Information - The company declared a dividend of $0.45 per share, equating to an annualized yield of 4.11% based on the closing stock price [40] - The equity at quarter-end rose to $1.2 billion, driven by earnings and higher carrying values on available-for-sale securities [25] Q&A Session Summary Question: Concerns about leasing and vacancy rates in D.C. - Management acknowledged a vacancy rate of about 20% in D.C. but noted proactive outreach to understand client challenges [59] Question: Average loan size in the office book - The average loan-to-value ratio is 53%, indicating room for movement, but the average loan size was not provided [61] Question: Expected tax rate for 2023 - The expected tax rate is projected to be in the range of 22% to 23% [62] Question: Strategy around FHLB advances and loan deposit ratio - FHLB advances are viewed as a liquidity management tool, and the loan-to-deposit ratio may return to the upper 90% range [63][80] Question: Outlook on net interest margin (NIM) - Management indicated that NIM expansion is possible depending on Fed actions, with a beta of 70% modeled [66][90] Question: Core deposit metrics and expectations - The company is focused on maintaining a strong value proposition to retain core deposits amid rising rates [96]

Financial Performance - Net income for Q3 2022 was $37.3 million, a decrease of $6.3 million or 14.5% compared to Q3 2021's $43.6 million[199]. - Total revenue for Q3 2022 was $89.2 million, up from $87.3 million in Q3 2021, driven by an increase in net interest income to $83.9 million from $79.0 million[201]. - Noninterest income decreased by 36.0% to $5.3 million in Q3 2022 from $8.3 million in Q3 2021, primarily due to lower gains on the sale of residential loans[203]. - Net income for the nine months ended September 30, 2022 was $98.7 million, a decrease of $36.3 million or 26.9% compared to $135.1 million in the same period of 2021[210]. - Total revenue for the nine months ended September 30, 2022, was $265.6 million, down from $276.1 million in the same period in 2021, with net interest income slightly increasing to $247.3 million[212]. - Adjusted net income for the nine months ended September 30, 2022, was $121,611 thousand, compared to $135,071 thousand for the same period in 2021[376]. Interest Income and Margin - The net interest margin increased to 3.02% in Q3 2022 from 2.73% in Q3 2021, reflecting higher average investment and loan balances[202]. - Net interest income for the three months ended September 30, 2022, was $83.9 million, an increase from $79.0 million for the same period in 2021, driven by higher average loan balances and yields[223]. - The net interest margin for the nine months ended September 30, 2022, was 2.86%, a decrease from 2.91% for the same period in 2021[213]. - The Company achieved a net interest margin of 2.86% for the nine months ended September 30, 2022, compared to 2.91% for the same period in 2021[327]. - Net interest income represented 93% of the Company's revenue for the first three quarters of 2022, up from 89% in the last three quarters of 2021[344]. Noninterest Income and Expenses - Gain on sale of loans dropped 75.4% to $821 thousand in Q3 2022 compared to $3.3 million in Q3 2021, attributed to a 79.44% decline in residential mortgage originations[204]. - Total noninterest income decreased by 38.5% to $18.3 million for the nine months ended September 30, 2022, primarily due to a decline in gains on the sale of loans[214]. - Noninterest expenses slightly decreased by 0.5% to $36.2 million in Q3 2022 from $36.4 million in Q3 2021[207]. - Noninterest expenses increased by 14.9% to $126.2 million for the nine months ended September 30, 2022, largely due to a $22.9 million accrual of settlement expenses[218]. - Total noninterest expense for the three months ended September 30, 2022, totaled $36.2 million, a slight decrease of 0.5% from $36.4 million for the same period in 2021[279]. Asset Quality and Credit Losses - The allowance for credit losses was $75,141, down from $92,169 in the previous year[231]. - Nonperforming assets totaled $9.6 million at September 30, 2022, representing 0.09% of total assets, a decrease from $30.8 million or 0.26% of total assets at December 31, 2021[252]. - The provision for credit losses on loans for the three months ended September 30, 2022, was $3.0 million, compared to a reversal of $8.3 million for the same period in 2021[246]. - The company reported total charge-offs of $2,034 thousand for the nine months ended September 30, 2022, compared to $13,114 thousand for the same period in 2021[250]. - The company's allowance for credit losses was 1.04% of total loans at September 30, 2022, deemed adequate to absorb expected credit losses[254]. Capital and Liquidity - CET1 capital to risk-weighted assets ratio stands at 15.11% as of September 30, 2022, exceeding the minimum required of 7.00%[362]. - Total capital to risk-weighted assets ratio is 16.10%, well above the required 10.50%[362]. - The Company had $4.3 billion in primary and secondary liquidity sources as of September 30, 2022, deemed adequate to meet current and projected funding needs[321]. - The Company maintains a capital conservation buffer of 2.5% of CET1 capital for capital adequacy purposes[360]. - The Company had $500 million in FHLB short-term advances as part of its asset liability strategy to support loan growth[313]. Deposits and Loans - Total deposits declined by 12.2% to $8.8 billion at September 30, 2022, down from $10.0 billion at December 31, 2021, due to deposit outflows related to rising interest rates[294]. - Total loans increased by 3.4% to $7.3 billion at September 30, 2022, from $7.1 billion at December 31, 2021, driven by growth in commercial real estate and commercial and industrial loans[292][302]. - Brokered deposits amounted to $2.5 billion, representing 28.0% of total deposits as of September 30, 2022, compared to 26.5% at December 31, 2021[308]. - The Company had $2.9 billion in noninterest-bearing demand deposits, accounting for 33% of total deposits, down from $3.3 billion at December 31, 2021[309]. - Total loans, excluding loans held for sale and PPP loans, amounted to $7,297,257 thousand as of September 30, 2022, an increase from $7,014,493 thousand at December 31, 2021[372]. Investment Portfolio - The investment portfolio increased by $345.9 million, or 13.1%, from December 31, 2021, to September 30, 2022[328]. - The net unrealized loss before income tax on the investment securities available-for-sale portfolio was $224.1 million at September 30, 2022, representing 8% of the investment portfolio's book value[332]. - The duration of the investment portfolio increased to 4.8 years at September 30, 2022, from 4.3 years at December 31, 2021[330]. - The weighted average rate of the Company's variable rate loans increased by approximately 179 basis points from December 31, 2021, to September 30, 2022[334]. - The Company's cost of interest-bearing deposits increased by 157 basis points at September 30, 2022, comprising 67% of total deposits[334].

Eagle Bancorp, Inc. (NASDAQ:EGBN) Q3 2022 Earnings Conference Call October 20, 2022 10:00 AM ET Company Participants Charles Levingston - Chief Financial Officer Susan Riel - President and Chief Executive Officer Jan Williams - Chief Credit Officer Conference Call Participants Catherine Mealor - KBW Operator Good day and thank you for standing by. Welcome to the Eagle Bancorp Third Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers’ presentatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 0-25923 Eagle Bancorp, Inc. (Exact name of registrant as specified in its charter) Maryland 52-2061461 (State or ot ...