Core Viewpoint - Eagle Bancorp, Inc. is under investigation for potential violations of federal securities laws and unlawful business practices, following a significant decline in its financial performance in Q1 2025 [1][3]. Financial Performance - For Q1 2025, Eagle reported a net income of $1.7 million, or $0.06 per diluted share, a substantial decrease from $15.3 million, or $0.50 per diluted share in the previous quarter, marking a decline of $13.6 million [3]. - The decrease in net income was attributed to a $14.1 million increase in provision expense, a $5.1 million decline in net interest income, and a $0.9 million increase in noninterest expenses [3]. - The company's share price fell by $2.41, from $21.19 on April 23, 2025, to $18.78 on April 24, 2025, following the release of its financial results [3]. Investigation Details - The law firm Kirby McInerney LLP is leading the investigation into Eagle Bancorp, focusing on potential claims related to securities law violations and other unlawful practices [1][4]. - Shareholders who purchased or acquired Eagle securities are encouraged to contact the law firm for more information regarding their rights and interests [4]. Company Background - Kirby McInerney LLP is a New York-based plaintiffs' law firm specializing in securities, antitrust, whistleblower, and consumer litigation, with a history of achieving significant recoveries for shareholders [6].
Kirby McInerney LLP Announces Investigation Against Eagle Bancorp, Inc. (EGBN) on Behalf of Investors