CORRECTION - Eagle Bancorp, Inc. Announces Third Quarter 2025 Results and Cash Dividend

BETHESDA, Md., Oct. 23, 2025 (GLOBE NEWSWIRE) -- In a release issued under the same headline on Wednesday, October 22nd by Eagle Bancorp, Inc. (Nasdaq: EGBN), please note that the links to the conference call were outdated. The corrected release follows:

Eagle Bancorp, Inc. ("Eagle" or the "Company") (NASDAQ: EGBN), the Bethesda-based holding company for EagleBank, one of the largest community banks in the Washington D.C. area, reported its unaudited results for the third quarter ended September 30, 2025.

Eagle reported a net loss of $67.5 million or $2.22 per share for the third quarter 2025, compared to a net loss of $69.8 million or $2.30 per share for the second quarter. The $2.3 million improvement in the net loss from the prior quarter is primarily due to a $24.9 million decrease in provision expense, offset by a $22.5 million reduction in the tax benefit. In the quarter, net interest income increased $383 thousand, noninterest income decreased $3.9 million, and noninterest expenses decreased $1.6 million.

Pre-provision net revenue ("PPNR") 1 in the third quarter was $28.8 million compared to $30.7 million for the prior quarter. The decrease is primarily due to a $3.6 million loss on sale of loans in the third quarter.

"We continued to execute our strategy to resolve asset quality challenges within the loan portfolio," said Susan G. Riel, Chair, President, and Chief Executive Officer of the Company. "The credit costs recognized this quarter reflect our commitment to managing credit risk with discipline and accountability. Following an independent review of our loan portfolio and expanded supplemental internal analysis, we took actions to reduce valuation risk in the office portfolio."

Ms. Riel added, “The core franchise remains sound and resilient. Our capital, liquidity, and customer relationships continue to provide a strong foundation as we move through this cycle and toward a more normalized earnings environment.”

Additionally, the Company is announcing today a cash dividend in the amount of $0.01 per share. The cash dividend will be payable on November 14, 2025 to shareholders of record on November 3, 2025.

Third Quarter of 2025 Key Elements

Income Statement

Loans and Funding

Asset Quality

Capital

Additional financial information: The financial information that follows provides more detail on the Company's financial performance for the three months ended September 30, 2025 as compared to the three months ended June 30, 2025 and September 30, 2024, as well as eight quarters of trend data. Persons wishing additional information should refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and other reports filed with the SEC.

About Eagle Bancorp: The Company is the holding company for EagleBank, which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and operates through twelve banking offices and four lending offices located in Suburban Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace, and is committed to a culture of respect, opportunity, belonging, and inclusion in both its workplace and the communities in which it operates.

Conference call: Eagle Bancorp will host a conference call to discuss its third quarter of 2025 financial results on Thursday, October 23, 2025 at 10:00 a.m. Eastern Time.

The listen-only webcast can be accessed at:

Forward-looking statements: This press release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events, financial condition, asset quality or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as "may," "will," "can," "anticipates," "believes," "expects," "plans," "strategy," "estimates," "potential," "continue," "should," "could," "strive," "feel" and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company's market (including reductions in the size of the federal government workforce; changes in government spending; the economic effects of an extended government shutdown; the proposal, announcement or imposition of tariffs; volatility in interest rates and interest rate, monetary and fiscal policy; inflation levels; competitive factors; our ability to access cost-effective funding) and other conditions (such as the impact of bank failures, credit losses or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment regarding the stability and liquidity of banks), which by their nature are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in other periodic and current reports filed with the SEC, including the Company's Quarterly Reports on Form 10-Q for the first and second quarters. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance. All information is as of the date of this press release. Any forward-looking statements made by or on behalf of the Company speak only as to the date they are made. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

Tangible common equity, tangible common equity to tangible assets (the "tangible common equity ratio"), tangible book value per common share, average tangible common equity, and the annualized return on average tangible common equity are non-GAAP financial measures derived from GAAP based amounts. The Company calculates the tangible common equity ratio by excluding the balance of intangible assets from common shareholders' equity, or tangible common equity, and dividing by tangible assets. The Company calculates tangible book value per common share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which the Company calculates by dividing common shareholders' equity by common shares outstanding. The Company calculates the annualized return on average tangible common equity ratio by dividing net income available to common shareholders by average tangible common equity, which is calculated by excluding the average balance of intangible assets from the average common shareholders' equity. The Company considers this information important to shareholders as tangible equity is a measure that is consistent with the calculation of capital for bank regulatory purposes, which excludes intangible assets from the calculation of risk based ratios, and as such is useful for investors, regulators, management and others to evaluate capital adequacy and to compare against other financial institutions.

The efficiency ratio is a non-GAAP measure calculated by dividing GAAP noninterest expense by the sum of GAAP net interest income and GAAP noninterest income. The efficiency ratio measures a bank's overhead as a percentage of its revenue. The Company believes that reporting the non-GAAP efficiency ratio more closely measures its effectiveness of controlling operational activities.

Pre-provision net revenue is a non-GAAP financial measure calculated by subtracting noninterest expenses from the sum of net interest income and noninterest income. The Company considers this information important to shareholders because it illustrates revenue excluding the impact of provisions and reversals to the allowance for credit losses on loans.

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1 A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

1 A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document. 2

Calculated as the ACL attributable to loans collateralized by performing office properties as a percentage of total loans.

3 A reconciliation of non-GAAP financial measures and the nearest GAAP measures is provided in the GAAP Reconciliation to Non-GAAP Financial Measures tables that accompany this document.

EAGLE BANCORP, INC.

CONTACT:

Eric R. Newell

240.497.1796

For the September 30, 2025 Earnings Presentation, click 2025 EGBN Earnings DECK 9-30-2025 FINAL.