Eagle Bancorp Q1 net income $24.2M, EPS $0.78, down 43% QoQ; deposits fall 14%

EAGLE BANCORP INC

2023-Q1 EPS reported $0.78

Net income $24.2M ($0.78 diluted) vs $42.2M ($1.32) in Q4 2022 and $45.7M ($1.42) a year ago.
Net interest margin narrowed to 2.77% from 3.14%; net interest income fell 12.4% to $75.0M.
Deposits dropped $1.2B (14.3%) to $7.5B; short-term borrowings rose $1.1B to $2.1B; loan-to-deposit ratio 104%.
Provision for credit losses $6.2M vs reversal of $0.5M in Q4; ACL on loans 1.01% (up from 0.97%).
HTM securities $112M unrealized loss (9% of common equity); uninsured deposits 42.9%. Dividend $0.45; repurchased 400k shares.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EAGLE BANCORP INC reported first quarter 2023 results: net income $24.2 million, EPS $0.78 per diluted share.

Period: first quarter 2023
Net income: $24.2 million
EPS: $0.78 per diluted share
Result: reported results

Exact text from the filing

EAGLE BANCORP, INC. ANNOUNCES NET INCOME FOR FIRST QUARTER 2023 OF $24.2 MILLION OR $0.78 PER DILUTED SHARE

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Source: SEC EDGAR

accession 0001050441-23-000083

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