secwatch.observer — SEC 8-K summary
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Issuer:     EAGLE BANCORP INC (EGBN)
CIK:        0001050441
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0001050441-23-000083
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050441/000105044123000083/0001050441-23-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050441/000105044123000083/gnw-20230419.htm
  HTML page:      https://secwatch.observer/filing/0001050441-23-000083

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