Eagle Bancorp Q2 net income $28.7M, EPS $0.94; NIM falls to 2.49%

EAGLE BANCORP INC

2023-Q2 EPS reported $1.72

Net income $28.7M ($0.94 diluted) vs $24.2M ($0.78) prior quarter and $15.7M ($0.49) year-ago quarter.
Net interest margin 2.49% vs 2.77% prior; cost of funds rose to 3.20% from 2.62%.
NPAs/assets 0.28% vs 0.08% prior; net charge-offs $5.6M (0.29% annualized).
Deposits $7.7B (+3.4% QoQ); borrowings $1.9B (-12.7%); repurchased 1.2M shares at $24.48 avg.
Expense reduction: branch closures and RIF expected to save $2.4M in H2 2023 and $5.8M in 2024.

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 second quarter 2023 results: net income net income of $28.7 million, EPS $0.94 per diluted share.

Period: second quarter 2023
Net income: net income of $28.7 million
EPS: $0.94 per diluted share
Result: reported results

Exact text from the filing

EAGLE BANCORP, INC. ANNOUNCES NET INCOME FOR SECOND QUARTER 2023 OF $28.7 MILLION OR $0.94 PER DILUTED SHARE

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Source: SEC EDGAR

accession 0001050441-23-000117

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