Eagle Bancorp, Inc. Announces Third Quarter 2026 Results
Key Highlights
- ➤Net income $24.2 million, or $0.79 per share, versus $6.9 million prior quarter
- ➤Provision for credit losses fell to $2.8 million from $21.4 million
- ➤Nonperforming assets increased $52.9 million to $166.0 million, or 1.75% of assets
- ➤Net charge-offs declined to 0.25% annualized from 2.78% in the second quarter
- ➤C&I loans grew $536.5 million, or 19.54% year-over-year, while deposits fell 1.8% sequentially
Expert Statements
Steve Curley, President and Chief Executive Officer of Eagle Bancorp, Inc.
“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.”
Steve Curley, President and Chief Executive Officer of Eagle Bancorp, Inc.
“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.”
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.
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