Eagle Bancorp Q3 net income $27.4M ($0.91 EPS); NIM down to 2.43%, NPAs rise

EAGLE BANCORP INC

2023-Q3 EPS reported $2.63

Net income $27.4M ($0.91 diluted EPS) vs $28.7M ($0.94) prior quarter and $37.3M ($1.16) year-ago.
Net interest margin fell to 2.43% from 2.49% QoQ and 3.02% YoY; $1.6M interest reversal on nonperforming loan cut NIM 6 bps.
Deposits grew 8.5% to $8.4B; short-term borrowings down 29.2% to $1.3B; loan-to-deposit ratio improved to 95%.
Nonperforming assets rose to 0.64% of total assets from 0.28% QoQ, primarily from one multi-family credit in DC.
Provision for credit losses $5.6M (up from $5.2M); allowance 1.05% of loans; dividend maintained at $0.45/share.

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 the third quarter 2023 results: net income $27.4 million, EPS $0.91 per diluted share.

Period: the third quarter 2023
Net income: $27.4 million
EPS: $0.91 per diluted share
Result: reported results

Exact text from the filing

EAGLE BANCORP, INC. ANNOUNCES NET INCOME FOR THIRD QUARTER 2023 OF $27.4 MILLION OR $0.91 PER DILUTED SHARE

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Source: SEC EDGAR

accession 0001050441-23-000141

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