Eagle Bancorp Q4 net income $20.2M ($0.67 EPS) down from $27.4M in Q3; provision jumps to $14.5M

EAGLE BANCORP INC

2023-FY EPS reported $3.31

Net income $20.2M vs $27.4M prior quarter; diluted EPS $0.67 vs $0.91.
Net interest income $73.0M (+$2.3M QoQ) as NIM widened to 2.45% from 2.43%.
Provision for credit losses surged to $14.5M from $5.6M on partial charge-off of office loan and multi-family CRE sale.
Deposits grew 5.2% to $8.8B; brokered deposits fell to 27.0% from 29.1%.
Net charge-off rate 0.60% annualized vs 0.02% prior quarter; NPL ratio improved to 0.82% from 0.89%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EAGLE BANCORP INC reported fourth quarter 2023 results: net income $20.2 million, EPS $0.67 per diluted share.

Period: fourth quarter 2023
Net income: $20.2 million
EPS: $0.67 per diluted share
Result: reported results

Exact text from the filing

EAGLE BANCORP, INC. ANNOUNCES NET INCOME FOR FOURTH QUARTER 2023 OF $20.2 MILLION OR $0.67 PER DILUTED SHARE

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Source: SEC EDGAR

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