What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-07 compared with 2025-05-08 · 405 added, 251 removed, 1073 unchanged (38% of the section changed)

3 unchanged sentences

(dollars in thousands, except share and per share data)

March 31, 2025 December 31, 2024

June 30, 2025 December 31, 2024

Cash and due from banks $ 14,005 $ 11,882

1 unchanged sentence

Interest-bearing deposits with banks and other short-term investments 239,237 619,017

661,173 619,017

Investment securities available-for-sale (amortized cost of $ 1,271,179 and $ 1,408,935 , respectively, and allowance for credit losses of $ 0 and $ 22 , respectively)

5 unchanged sentences

Loans held for investment, at amortized cost 7,721,664 7,934,888

7,943,306 7,934,888

Allowance for credit losses ( 183,796 ) ( 114,390 )

( 129,469 ) ( 114,390 )

Loans held for investment, net of allowance 7,537,868 7,820,498

7,813,837 7,820,498

Premises and equipment, net 7,103 7,694

2 unchanged sentences

Bank-owned life insurance 325,174 115,806

320,055 115,806

Goodwill and other intangible assets, net

Intangible assets, net 9 16

Other real estate owned 2,459 2,743

3 unchanged sentences

Noninterest-bearing demand $ 1,532,132 $ 1,544,403

$ 1,607,826 $ 1,544,403

Interest-bearing transaction 895,604 1,211,791

926,722 1,211,791

Savings and money market 3,267,630 3,599,221

3 unchanged sentences

Other short-term borrowings 50,000 490,000

490,000 490,000

Long-term borrowings 76,264 76,108

76,181 76,108

Operating lease liabilities 37,297 23,815

6 unchanged sentences

Additional paid-in capital 388,927 384,932

386,535 384,932

Retained earnings 904,205 982,304

Accumulated other comprehensive income (loss) ( 108,365 ) ( 141,473 )

( 120,939 ) ( 141,473 )

Total Shareholders’ Equity 1,185,067 1,226,061

1 unchanged sentence

See Notes to Consolidated Financial Statements.

T able of Contents

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 3

EAGLE BANCORP, INC.

1 unchanged sentence

(dollars in thousands, except per share data)

Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2025 2024 2025 2024

Interest Income

13 unchanged sentences

Provision for (Reversal of) Credit Losses for Unfunded Commitments 1,759 608 1,462 1,064

Net Interest Income After Provision for (Reversal of) Credit Losses 39,691 39,067

Net Interest Income (Loss) After Provision for (Reversal of) Credit Losses ( 72,142 ) 61,786 ( 32,451 ) 100,853

Noninterest Income

Service charges on deposits 1,771 1,653 3,514 3,352

Gain on sale of loans — 37 — 37

Net gain (loss) on sale of investment securities ( 1,854 ) 3 ( 1,850 ) 7

9 unchanged sentences

FDIC insurance 8,077 5,917 17,039 12,329

Goodwill impairment — 104,168 — 104,168

Other expenses 3,447 3,880 6,294 6,021

7 unchanged sentences

See Notes to Consolidated Financial Statements.

T able of Contents

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 4

EAGLE BANCORP, INC.

1 unchanged sentence

(dollars in thousands)

Three Months Ended March 31,

Net Income (Loss)

For the Three Months Ended June 30, For the Six Months Ended June 30,

2025 2024 2025 2024

Net Income (Loss) $ ( 69,775 ) $ ( 83,802 ) $ ( 68,100 ) $ ( 84,140 )

Other comprehensive income (loss), net of tax:

Unrealized gain (loss) on securities available-for-sale 10,241 3,629 29,594 ( 1,437 )

Reclassification adjustment for net (gains) losses included in net income (loss)

Total unrealized gain (loss) on investment securities available-for-sale

Reclassification adjustment for net (gain) loss included in net income (loss)

1,185 ( 2 ) 1,180 ( 6 )

Total unrealized gain (loss) on investment securities available-for-sale 11,426 3,627 30,774 ( 1,443 )

Amortization of unrealized loss on securities transferred to held-to-maturity 1,255 1,322 2,459 2,707

3 unchanged sentences

See Notes to Consolidated Financial Statements.

T able of Contents

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 5

EAGLE BANCORP, INC.

1 unchanged sentence

(dollars in thousands, except share data)

Common Additional Paid-in Capital

Common Additional Paid-in Capital Retained

Earnings Accumulated

3 unchanged sentences

Shares Amount

Balance as of January 1, 2025

Balance as of April 1, 2025

30,368,843 $ 300 $ 386,535 $ 978,995 $ ( 120,939 ) $ 1,244,891

Net Income — — — 1,675 — 1,675

Net Income (Loss) — — — ( 69,775 ) — ( 69,775 )

Other comprehensive income, net of tax — — — — 12,574 12,574

Stock-based compensation expense — — 2,273 — — 2,273

Issuance of common stock under share-based compensation arrangements ( 9,518 ) — — — — —

Issuance of common stock related to employee stock purchase plan 5,658 — 119 — — 119

Cash dividends declared ($ 0.165 per share)

— — — ( 5,015 ) — ( 5,015 )

Balance as of June 30, 2025

30,364,983 $ 300 $ 388,927 $ 904,205 $ ( 108,365 ) $ 1,185,067

Balance as of April 1, 2024

30,185,732 $ 297 $ 377,334 $ 1,047,550 $ ( 165,768 ) $ 1,259,413

Net Income (Loss) — — — ( 83,802 ) — ( 83,802 )

Other comprehensive income, net of tax — — — — 4,925 4,925

Stock-based compensation expense — — 2,664 — — 2,664

3 unchanged sentences

— — — ( 13,885 ) — ( 13,885 )

Balance as of March 31, 2025

Balance as of June 30, 2024

30,180,482 $ 297 $ 380,142 $ 949,863 $ ( 160,843 ) $ 1,169,459

See Notes to Consolidated Financial Statements.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 6

EAGLE BANCORP, INC.

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

(dollars in thousands, except share data)

Common Additional Paid-in Capital Retained

Earnings Accumulated

Comprehensive

Income (Loss) Total

Shareholders’

Shares Amount

Balance as of January 1, 2025

30,202,003 $ 298 $ 384,932 $ 982,304 $ ( 141,473 ) $ 1,226,061

Net Income (Loss) — — — ( 68,100 ) — ( 68,100 )

Other comprehensive income, net of tax — — — — 33,108 33,108

Stock-based compensation expense — — 3,797 — — 3,797

Issuance of common stock under share-based compensation arrangements 153,718 2 ( 2 ) — — —

Issuance of common stock related to employee stock purchase plan 9,262 — 200 — — 200

Cash dividends declared ( $ 0.165 per share)

— — — ( 9,999 ) — ( 9,999 )

Other comprehensive loss, net of tax

Balance as of June 30, 2025

30,364,983 $ 300 $ 388,927 $ 904,205 $ ( 108,365 ) $ 1,185,067

Balance as of January 1, 2024

29,925,612 $ 296 $ 374,888 $ 1,061,456 $ ( 162,357 ) $ 1,274,283

Net Income (Loss) — — — ( 84,140 ) — ( 84,140 )

Other comprehensive income, net of tax — — — — 1,514 1,514

Stock-based compensation expense — — 5,032 — — 5,032

3 unchanged sentences

— — — ( 27,453 ) — ( 27,453 )

Balance as of March 31, 2024

Balance as of June 30, 2024

30,180,482 $ 297 $ 380,142 $ 949,863 $ ( 160,843 ) $ 1,169,459

See Notes to Consolidated Financial Statements.

T able of Contents

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 7

EAGLE BANCORP, INC.

1 unchanged sentence

(dollars in thousands)

Three Months Ended March 31,

For the Six Months Ended June 30,

Cash Flows From Operating Activities:

3 unchanged sentences

(Reversal of) provision for unfunded commitments 1,462 1,064

Goodwill impairment — 104,168

Depreciation and amortization 1,611 1,492

Gains on sale of loans — ( 37 )

Loss on mortgage servicing rights — ( 1,335 )

8 unchanged sentences

Cash Flows From Investing Activities:

Purchases of available-for-sale investment securities ( 28,224 ) —

Proceeds from maturities of available-for-sale securities 60,151 55,386

4 unchanged sentences

Proceeds from (purchases of) of Federal Home Loan Bank stock 21,272 ( 28,384 )

Proceeds from sale of mortgage servicing rights — 3,618

Net change in loans 80,541 ( 62,045 )

7 unchanged sentences

Increase in short-term borrowings ( 440,000 ) 2,650,000

Net proceeds from long-term borrowings — ( 2,360,000 )

Proceeds from employee stock purchase plan 200 223

6 unchanged sentences

Interest paid $ 175,450 $ 180,999

Income taxes paid 1,460 —

Supplemental Non-Cash Disclosures:

3 unchanged sentences

See Notes to Consolidated Financial Statements.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 8

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

EAGLE BANCORP, INC.

11 unchanged sentences

The Consolidated Financial Statements include the accounts of Eagle Bancorp, Inc.

(the "Parent") and its subsidiaries (together with the Parent, the "Company"), with all significant intercompany transactions eliminated.

EagleBank (the "Bank"), a Maryland chartered commercial bank, is the Parent's principal subsidiary.

and its subsidiaries with all significant intercompany transactions eliminated.

EagleBank, a Maryland chartered commercial bank, is the Parent's principal subsidiary.

The accounting and reporting policies of the Company conform to generally accepted accounting principles in the United States of America ("GAAP") and to general practices in the banking industry.

2 unchanged sentences

Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC").

In addition to the accounting policies described below, the Company applies the accounting policies contained in Note 1 to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

In addition to the accounting policies described below, the Company applies the accounting policies contained in "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 ("2024 Form 10-K").

Certain reclassifications have been made to 2024 amounts previously reported to conform to the 2025 presentation.

Reclassifications had no effect on net income or shareholders' equity.

These statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

Reclassifications had no effect on net income (loss) or shareholders' equity.

These statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's Annual Report on 2024 Form 10-K.

Use of Estimates

10 unchanged sentences

Realized gains and losses, using the specific identification method, are included as a separate component of noninterest income in the Consolidated Statements of Operations.

Premiums and discounts on investment securities are amortized/accreted to the earlier of call or maturity based on expected lives, which lives are adjusted based on prepayment assumptions and call optionality.

Premiums and discounts on investment securities are amortized/accreted to the earlier of call or maturity based on expected lives, which are adjusted based on prepayment assumptions and call optionality.

Transfers of Investment Securities from Available-for-Sale to Held-to-Maturity

Transfers of debt securities into the HTM category from the AFS category are made at amortized cost, net of unrealized gain or loss reported in accumulated other comprehensive income (loss) at the date of transfer.

The unrealized holding gain or loss at the date of transfer is retained in other comprehensive income (loss) and in the carrying value of the HTM securities.

The unrealized holding gain or loss at

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 9

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

the date of transfer is retained in other comprehensive income (loss) and in the carrying value of the HTM securities.

Such amounts are amortized over the remaining life of the security.

There were no transfers during the periods presented.

The Company does not intend to sell the HTM investments, and it is more likely than not that the Company will not have to sell the securities before recovery of its amortized cost basis, which may be at maturity.

12 unchanged sentences

Allowance for Credit Losses

The following table presents a breakdown of the current provision for credit losses included in our Consolidated Statements of Operations for the applicable periods:

Three Months Ended March 31,

The table below presents a breakdown of the current provision for credit losses included in our Consolidated Statements of Operations.

For the Three Months Ended June 30, For the Six Months Ended June 30,

(dollars in thousands) 2025

Provision for (reversal of) credit losses - loans $ 138,205 $ 8,904 $ 164,513 $ 44,078

$ 26,309 $ 35,174

Provision for (reversal of) credit losses - HTM debt securities ( 46 ) 55 ( 99 ) 56

Total Provision for credit losses $ 138,159 $ 8,959 $ 164,414 $ 44,134

$ 26,255 $ 35,175

Allowance for Credit Losses - Loans

15 unchanged sentences

EAD is based on each instrument's underlying amortization schedule in order to estimate the bank's expected credit loss exposure at the time of the borrower's potential default.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 10

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

Portfolio segments are used to pool loans with similar risk characteristics and align with our methodology for measuring current expected credit losses ("CECL").

5 unchanged sentences

Income producing commercial real estate loans comprise permanent and bridge financing provided to professional real estate owners/managers of commercial and residential real estate projects and properties who generally have a demonstrated record of past success with similar properties.

Collateral properties include apartment buildings, office buildings, hotels, mixed-use buildings, retail, data centers, warehouse, and shopping centers.

Collateral properties include apartment buildings, office buildings, hotels, mixed-use buildings, retail, data centers, warehouses, and shopping centers.

The primary source of repayment on these loans is generally expected to come from lease or operation of the real property collateral.

Income producing commercial real estate loans are impacted by fluctuation in collateral values, as well as rental demand and rates.

Income producing commercial real estate loans are impacted by fluctuations in collateral values, as well as rental demand and rates.

Owner occupied – commercial real estate.

The owner occupied commercial real estate portfolio comprises permanent financing provided to operating companies and their related entities for the purchase or refinance of real property wherein their business operates.

Collateral properties include industrial property, office buildings, religious facilities, mixed-use property, health care and educational facilities.

Collateral properties include industrial property, office buildings, religious facilities, mixed-use property, healthcare and educational facilities.

Real Estate Mortgage – Residential.

2 unchanged sentences

The construction commercial and residential loan portfolio comprises loans made to builders and developers of commercial and residential property, for renovation, new construction and development projects.

Collateral properties include apartment buildings, mixed use property, residential condominiums, single and 1-4 residential property and office buildings.

Collateral properties include apartment buildings, mixed-use properties, residential condominiums, single unit and 1-4 unit residential properties and office buildings.

The primary source of repayment on these loans is expected to come from the sale, permanent financing or lease of the real property collateral.

18 unchanged sentences

The scenarios cover the four economic forecast variables, with each segment of the portfolio linked to two of these variables, depending on the segment.

The loss driver analysis is spread over a reasonable and supportable period of 18 months and reverts back to a

historical loss rate over twelve months on a straight-line basis over the loan's remaining maturity.

The loss driver analysis is spread over a reasonable and supportable period of 18 months and reverts back to a historical loss rate over twelve months on a straight-line basis over the loan's remaining maturity.

Management leverages economic projections from reputable and independent third parties to inform its loss driver forecasts over the forecast period.

We have several pass credit grades that are assigned to loans based on varying levels of risk, ranging from loans that are secured by cash or marketable securities, to watch list loans that have all the characteristics of an acceptable credit risk but warrant more than the normal level of monitoring.

Special mention loans are those that are currently protected by the sound worth and paying capacity of the borrower, but that are potentially weak and constitute an additional credit risk.

Special mention loans are those that are currently protected by the sound

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 11

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

worth and paying capacity of the borrower, but that are potentially weak and constitute an additional credit risk.

These loans have the potential to deteriorate to a substandard grade due to the existence of financial or administrative deficiencies.

10 unchanged sentences

As our portfolio has matured, historical loss ratios have been closely monitored.

The review of the appropriateness of the allowance is performed by executive management and presented to management committees and the Audit Committee of the Board of Directors (the "Board").

The review of the appropriateness of the allowance is performed by executive management and presented to management committees and the Audit Committee of the Board of Directors ("Board").

The committees' reports to the Board are part of the Board's review on a quarterly basis of our consolidated financial statements.

17 unchanged sentences

For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis.

If either criteria is

met, the security’s amortized cost basis is written down to fair value through income.

If either criteria is met, the security’s amortized cost basis is written down to fair value through income.

For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors.

In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors.

If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security.

If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 12

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

compared to the amortized cost basis of the security.

If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis.

19 unchanged sentences

Such financial instruments are recorded when they are funded.

The Company records a RUC on off-balance sheet credit exposures through a charge to provision for credit loss expense in the Company's Consolidated Statement of Operations.

The Company records a RUC on off-balance sheet credit exposures through a charge to provision for credit loss expense in the Company's Consolidated Statements of Operations.

The RUC on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur and is included in the RUC on the Company’s Consolidated Balance Sheets.

11 unchanged sentences

Entities should apply the amendments in ASU 2023-06 prospectively.

For entities subject to the SEC’s existing disclosure requirements and for entities that have to file or provide financial statements with or to the SEC for the purpose of selling or issuing securities that do not have contractual limits on transfer, the effective date for each amendment will be the date on which the SEC removes that

related disclosure from its rules.

As a result, the effective date will be different for each individual disclosure based on the effective date of the SEC’s deletion of the related disclosure.

3 unchanged sentences

The effective dates of the amendments are predicated on the SEC removing its related disclosure requirements from its regulations.

However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity.

However, if by June 30, 2027, the SEC has not removed the related

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 13

Table of Contents Notes to Consolidated Financial Statements | Note 1 – Summary of Significant Accounting Policies

disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity.

We are currently in the process of evaluating this guidance.

27 unchanged sentences

(1) prospectively to all new transactions recognized on or after the date that the entity first applies the amendments, or (2) retrospectively to the beginning of the earliest comparative period presented in which the amendments were first applied.

We have removed all references to the Codification in our public filings.

We have removed all references to the Concepts Statements in our public filings.

2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40);

2 unchanged sentences

rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements at interim and annual reporting periods.

ASU 2024-03 adds to ASC 220-40 to require a footnote disclosure about specific expenses by requiring public business entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses:

ASU 2024-03 adds to ASC 220-40, requiring public business entities to disaggregate within the financial statement footnotes, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses:

(1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities or other types of depletion expenses.

4 unchanged sentences

Early adoption is permitted.

The amendments in this update should be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of

this Update or (2) retrospectively to any or all prior periods presented in the financial statements.

We are currently in the process of evaluating this guidance.

The amendments in this update should be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this Update or (2) retrospectively to any or all prior periods presented in the financial statements.

The company will expand its disclosures in the annual reporting period beginning after December 15, 2026 and interim reporting periods after to include disaggregated information related to the expenses required by the standard.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 14

Table of Contents Notes to Consolidated Financial Statements | Note 2 – Cash and Due from Banks

Note 2 – Cash and Due from Banks

For the three months ended March 31, 2025 and 2024, the Bank maintained average daily balances at the Federal Reserve Bank of Richmond ("Federal Reserve Bank") of $ 1.4 billion and $ 1.9 billion, respectively, on which interest is paid.

For the six months ended June 30, 2025 and 2024, the Bank maintained average daily balances at the Federal Reserve Bank of Richmond ("Federal Reserve Bank") of $ 1.4 billion and $ 1.7 billion, respectively, on which interest is paid.

Additionally, the Bank maintains interest-bearing balances with the Federal Home Loan Bank of Atlanta ("FHLB") and noninterest-bearing balances with domestic correspondent banks to cover associated costs for services they provide to the Bank.

Note 3 – Investment Securities

The following tables summarize the Company's investment in AFS and HTM securities by major security type:

The table below summarizes the Company's investment in AFS securities by major security type.

As of June 30, 2025

(dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Estimated Fair Value

March 31, 2025

Investment securities available-for-sale:

agency securities $ 515,001 $ — $ ( 26,233 ) $ — $ 488,768

4 unchanged sentences

Total available-for-sale securities $ 1,271,179 $ 52 $ ( 100,742 ) $ — $ 1,170,489

(dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value

March 31, 2025

Investment securities held-to-maturity:

As of December 31, 2024

treasury bonds $ 24,988 $ — $ ( 212 ) $ — $ 24,776

agency securities 600,277 — ( 41,742 ) — 558,535

Residential mortgage-backed securities 719,815 36 ( 94,535 ) — 625,316

2 unchanged sentences

Corporate bonds 2,000 — ( 160 ) ( 22 ) 1,818

Total $ 925,748 $ — $ ( 105,218 ) $ 820,530

allowance for credit losses ( 1,275 )

Total held-to-maturity securities, net of ACL $ 924,473

(dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Estimated Fair Value

December 31, 2024

Investment securities available-for-sale:

treasury bonds $ 24,988 $ — $ ( 212 ) $ — $ 24,776

agency securities 600,277 — ( 41,742 ) — 558,535

Total available-for-sale securities $ 1,408,935 $ 36 $ ( 141,545 ) $ ( 22 ) $ 1,267,404

The table below summarizes the Company's investment in HTM securities by major security type.

As of June 30, 2025

(dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value

Residential mortgage-backed securities $ 575,668 $ — $ ( 70,717 ) $ 504,951

2 unchanged sentences

Corporate bonds 121,446 7 ( 7,327 ) 114,126

Total available-for-sale securities $ 1,408,935 $ 36 $ ( 141,545 ) $ ( 22 ) $ 1,267,404

(dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value

December 31, 2024

Investment securities held-to-maturity:

Total 898,084 $ 7 $ ( 98,955 ) $ 799,136

allowance for credit losses ( 1,229 )

Total held-to-maturity securities, net of ACL $ 896,855

As of December 31, 2024

Residential mortgage-backed securities $ 605,904 $ — $ ( 85,941 ) $ 519,963

5 unchanged sentences

Total held-to-maturity securities, net of ACL $ 938,647

In addition, as of March 31, 2025 and December 31, 2024, the Company held $ 51.5 million and $ 51.8 million in non marketable equity securities, respectively, in a combination of Federal Reserve System ("Federal Reserve Board," "Federal Reserve" or "FRB") and FHLB stocks, which are required to be held for regulatory purposes.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 15

Table of Contents Notes to Consolidated Financial Statements | Note 3 – Investment Securities

In addition, as of June 30, 2025 and December 31, 2024, the Company held $ 30.6 million and $ 51.8 million in non-marketable equity securities, respectively, in a combination of Federal Reserve System ("Federal Reserve Board", "Federal Reserve" or "FRB") and FHLB stocks, which are required to be held for regulatory purposes.

These securities cannot be disposed of other than through redemption by the issuer and, if redeemed, would be redeemed at the original cost.

The securities are carried at cost, classified as restricted securities, and periodically evaluated for impairment based on ultimate recovery of par value.

As of March 31, 2025 and December 31, 2024, the Company had $ 43.2 million and $ 44.8 million, respectively, of unamortized unrealized losses outstanding following the transfer of investment securities from AFS to HTM in 2022.

As of June 30, 2025 and December 31, 2024, the Company had $ 41.6 million and $ 44.8 million, respectively, of unamortized unrealized losses outstanding following the transfer of investment securities from AFS to HTM in 2022.

These unrealized losses are included in accumulated other comprehensive loss and are amortized through interest income as a yield adjustment over the remaining term of the securities.

Accrued interest receivable on investment securities totaled $ 6.7 million and $ 6.6 million as of March 31, 2025 and December 31, 2024, respectively.

Accrued interest receivable on investment securities totaled $ 6.2 million and $ 6.6 million as of June 30, 2025 and December 31, 2024, respectively.

The accrued interest on investment securities is excluded from the amortized cost of the securities and is reported in other assets in the Consolidated Balance Sheets.

The following tables summarize, by length of time, the Company's AFS securities that have been in a continuous unrealized loss position and HTM securities that have been in a continuous unrecognized loss position:

The table below summarizes, by length of time, the Company's AFS securities that have been in a continuous unrealized loss position and HTM securities that have been in a continuous unrecognized loss position.

Less than 12 Months 12 Months or Greater Total

(dollars in thousands) Number of Securities Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses

March 31, 2025

As of June 30, 2025

Investment securities available-for-sale:

5 unchanged sentences

Total 225 $ 34,061 $ ( 155 ) $ 1,132,027 $ ( 100,587 ) $ 1,166,088 $ ( 100,742 )

Less than 12 Months 12 Months or Greater Total

(dollars in thousands) Number of Securities Estimated Fair Value Unrecognized Losses Estimated Fair Value Unrecognized Losses Estimated Fair Value Unrecognized Losses

March 31, 2025

Investment securities held-to-maturity:

4 unchanged sentences

Total 214 $ 1,942 $ ( 62 ) $ 783,443 $ ( 98,893 ) $ 785,385 $ ( 98,955 )

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 16

Table of Contents Notes to Consolidated Financial Statements | Note 3 – Investment Securities

Less than 12 Months 12 Months or Greater Total

(dollars in thousands) Number of Securities Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses

December 31, 2024

As of December 31, 2024

Investment securities available-for-sale:

6 unchanged sentences

Total 235 $ 9,830 $ ( 136 ) $ 1,256,180 $ ( 141,409 ) $ 1,266,010 $ ( 141,545 )

Less than 12 Months 12 Months or Greater Total

(dollars in thousands) Number of Securities Estimated Fair Value Unrecognized Losses Estimated Fair Value Unrecognized Losses Estimated Fair Value Unrecognized Losses

December 31, 2024

Investment securities held-to-maturity:

4 unchanged sentences

Total 222 $ 5,954 $ ( 152 ) $ 804,394 $ ( 119,419 ) $ 810,348 $ ( 119,571 )

Unrealized losses as of March 31, 2025 were generally attributable to changes in market interest rates and interest spread relationships subsequent to the dates the securities were originally purchased, and were considered to be temporary, and not due to credit quality concerns on the investment securities.

As of June 30, 2025, unrealized losses were generally attributable to changes in market interest rates and interest spread relationships subsequent to the dates the securities were originally purchased, and were considered to be temporary, and not due to credit quality concerns on the investment securities.

The fair values of these securities are expected to recover as the securities approach their respective maturity dates.

1 unchanged sentence

The Company measures its AFS and HTM securities portfolios for current expected credit losses as part of its ACL analysis.

For further information on provision for credit losses on AFS and HTM securities, see Allowance for Credit Losses discussion in "Note 1.

Summary of Significant Accounting Policies".

As of March 31, 2025 and December 31, 2024, the Company had an allowance for credit losses outstanding of zero and $ 22 thousand, respectively, on its AFS securities and $ 1.28 million and $ 1.31 million, respectively, on its HTM securities, each of which primarily comprise allowances for corporate bonds.

The following table summarizes the Company's investment in AFS securities and HTM securities by contractual maturity.

For further information on provision for credit losses on AFS and HTM securities, see the Allowance for Credit Losses discussion in "Note 1 – Summary of Significant Accounting Policies".

As of June 30, 2025 and December 31, 2024, the Company had an allowance for credit losses outstanding of zero and $ 22 thousand, respectively, on its AFS securities and $ 1.2 million and $ 1.3 million, respectively, on its HTM securities, each of which primarily comprise allowances for corporate bonds.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 17

Table of Contents Notes to Consolidated Financial Statements | Note 3 – Investment Securities

The table below summarizes the Company's investment in AFS securities and HTM securities by contractual maturity.

Expected maturities for mortgage-backed securities ("MBS") will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

March 31, 2025

As of June 30, 2025

(dollars in thousands) Amortized Cost Estimated Fair Value

19 unchanged sentences

Total $ 2,168,034 $ 1,969,625

During the three months ended March 31, 2025 and 2024, proceeds from the sale or call of investment securities were $ 50.1 million, and $ 27.1 million, respectively.

For the three months ended March 31, 2025 and 2024, gross realized gains on sales and calls of investment securities were $ 5 thousand and $ 4 thousand, respectively.

There were $ 1 thousand and none in gross realized losses on sales or calls of investment securities during the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025 and December 31, 2024, the book value of securities pledged as collateral for certain government deposits, securities sold under agreements to repurchase and certain lines of credit with correspondent banks was $ 626.8 million and $ 369.1 million, respectively, which were well in excess of required amounts in order to operationally provide significant reserve amounts for new business.

As of March 31, 2025 and December 31, 2024, there were no holdings of securities of any one issuer, other than the U.S.

The table below displays information about the sales and calls of our investment securities.

For the Three Months Ended June 30, For the Six Months Ended June 30,

(dollars in thousands) 2025 2024 2025 2024

Proceeds from sales and calls $ 62,909 $ 50 $ 112,961 $ 27,102

Gross realized gains from sales and calls 3 3 8 7

Gross realized losses from sales and calls 1,857 — 1,858 —

As of June 30, 2025 and December 31, 2024, the book value of securities pledged as collateral for certain government deposits, securities sold under agreements to repurchase and certain lines of credit with correspondent banks was $ 620.6 million and $ 369.1 million, respectively, which were well in excess of required amounts in order to operationally provide significant reserve amounts for new business.

As of June 30, 2025 and December 31, 2024, there were no holdings of securities of any one issuer, other than the U.S.

Government and U.S.

agency securities, which exceeded ten percent of shareholders’ equity.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 18

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

Note 4 – Loans and Allowance for Credit Losses

2 unchanged sentences

A substantial portion of the Bank’s loan portfolio consists of loans to businesses secured by real estate and other business assets.

HFI Loans, net of unamortized net deferred fees, as of March 31, 2025 and December 31, 2024 are summarized by portfolio segment as follows:

March 31, 2025 December 31, 2024

(dollars in thousands) Amount %

The table below presents HFI Loans, net of unamortized net deferred fees, summarized by portfolio segment.

June 30, 2025 December 31, 2024

(dollars in thousands) Amount % Amount %

Commercial $ 1,207,512 15 % $ 1,183,341 15 %

11 unchanged sentences

$ 7,537,868 $ 7,820,498

(1) Excludes accrued interest receivable of $ 41.9 million and $ 42.9 million as of March 31, 2025 and December 31, 2024, respectively, which were recorded in other assets on the Consolidated Balance Sheets.

Unamortized net deferred fees and costs were $ 18.1 million and $ 18.8 million as of March 31, 2025 and December 31, 2024, respectively.

During the three months ended March 31, 2025, certain loans were reclassified from HFI to HFS loans with the mark-to-market value of $ 15.3 million as reported on the Consolidated Balance Sheets.

As of March 31, 2025 and December 31, 2024, the Bank serviced $ 70.0 million and $ 63.7 million, respectively, of SBA loans and other loan participations, which are not reflected as loan balances on the Consolidated Balance Sheets.

(1) Excludes accrued interest receivable of $ 37.8 million and $ 42.9 million as of June 30, 2025 and December 31, 2024, respectively, which were recorded in other assets on the Consolidated Balance Sheets.

Unamortized net deferred fees and costs were $ 18.4 million and $ 18.8 million as of June 30, 2025 and December 31, 2024, respectively.

During the six months ended June 30, 2025, certain loans were reclassified from HFI to HFS loans with the mark-to-market value of $ 37.6 million as reported on the Consolidated Balance Sheets.

As of June 30, 2025 and December 31, 2024, the Bank serviced $ 77.5 million and $ 63.7 million, respectively, of SBA loans and other loan participations, which are not reflected as loan balances on the Consolidated Balance Sheets.

During the year ended December 31, 2024, the Company sold the remaining servicing rights to all FHA loans.

16 unchanged sentences

Prior to an advance, the Bank or its contractor inspects the project to determine that the work has been completed, to justify the draw requisition.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 19

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

Commercial permanent loans are generally secured by improved real property which is generating income in the normal course of operation.

2 unchanged sentences

As part of the underwriting process, DSCRs are stress tested assuming a 200 basis point increase in interest rates from their current levels.

Commercial permanent loans generally are underwritten with a term not greater than 10 years or the remaining useful life of the property, whichever is lower.

Commercial permanent loans generally are underwritten with a term not greater than 10 years or the remaining useful life of the property, whichever is less.

The preferred term is between five to seven years , with amortization to a maximum of 25 years.

The Company’s loan portfolio includes ADC real estate loans including both investment and owner occupied projects.

ADC loans amounted to $ 1.8 billion as of March 31, 2025.

ADC loans amounted to $ 1.7 billion as of June 30, 2025.

A portion of the ADC portfolio, both speculative and non-speculative, includes loan-funded interest reserves at origination.

ADC loans that provide for the use of interest reserves represent approximately 54 % of the outstanding ADC loan portfolio as of March 31, 2025.

ADC loans that provide for the use of interest reserves represent approximately 55 % of the outstanding ADC loan portfolio as of June 30, 2025.

The decision to establish a loan-funded interest reserve is made upon origination of the ADC loan and is based upon a number of factors considered during underwriting of the credit including:

14 unchanged sentences

If a project has not performed as expected, it is not the customary practice of the Company to increase loan funded interest reserves.

The following table details activity in the ACL by portfolio segment for the three months ended March 31, 2025 and 2024.

The table below details activity in the ACL by portfolio segment.

PPP loans are excluded from these tables since they do not carry an allowance for credit loss, as these loans are fully guaranteed as to principal and interest by the SBA, whose guarantee is backed by the full faith and credit of the U.S.

Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

(dollars in thousands) Commercial Income Producing - Commercial Real Estate Owner Occupied - Commercial Real Estate Real Estate Mortgage - Residential Construction -Commercial and Residential Construction - C&I (Owner Occupied) Home Equity Other Consumer Total

Three Months Ended March 31, 2025

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 20

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

(dollars in thousands) Commercial Income

Producing - Commercial Real Estate Owner

Occupied - Commercial Real Estate Real Estate Mortgage - Residential Construction -Commercial and Residential Construction - C&I (Owner Occupied) Home Equity Other Consumer Total

For the Three Months Ended June 30, 2025

Allowance for credit losses:

5 unchanged sentences

Ending balance $ 28,955 $ 94,206 $ 27,182 $ 814 $ 25,989 $ 5,569 $ 1,032 $ 49 $ 183,796

Three Months Ended March 31, 2024

For the Three Months Ended June 30, 2024

Allowance for credit losses:

5 unchanged sentences

Ending balance $ 21,011 $ 53,251 $ 15,641 $ 750 $ 13,510 $ 1,431 $ 677 $ 30 $ 106,301

The following table presents the amortized cost basis of collateral-dependent HFI loans by portfolio segment as of March 31, 2025 and December 31, 2024:

March 31, 2025 December 31, 2024

For the Six Months Ended June 30, 2025

Allowance for credit losses:

Balance at beginning of year $ 19,390 $ 55,185 $ 22,654 $ 610 $ 14,585 $ 1,282 $ 653 $ 31 $ 114,390

Loans charged-off ( 968 ) ( 74,195 ) ( 9,797 ) — ( 10,703 ) — — ( 35 ) ( 95,698 )

Recoveries of loans previously charged-off 215 329 47 — — — — — 591

Net loans (charged-off) and recovered ( 753 ) ( 73,866 ) ( 9,750 ) — ( 10,703 ) — — ( 35 ) ( 95,107 )

Provision for (reversal of) credit losses 10,318 112,887 14,278 204 22,107 4,287 379 53 164,513

Ending balance $ 28,955 $ 94,206 $ 27,182 $ 814 $ 25,989 $ 5,569 $ 1,032 $ 49 $ 183,796

For the Six Months Ended June 30, 2024

Allowance for credit losses:

Balance at beginning of year $ 17,824 $ 40,050 $ 14,333 $ 861 $ 10,198 $ 1,992 $ 657 $ 25 $ 85,940

Loans charged-off ( 2,587 ) ( 21,329 ) — — ( 129 ) — — ( 70 ) ( 24,115 )

Recoveries of loans previously charged-off 166 185 47 — — — — — 398

Net loans (charged-off) and recovered ( 2,421 ) ( 21,144 ) 47 — ( 129 ) — — ( 70 ) ( 23,717 )

Provision for (reversal of) credit losses 5,608 34,345 1,261 ( 111 ) 3,441 ( 561 ) 20 75 44,078

Ending balance $ 21,011 $ 53,251 $ 15,641 $ 750 $ 13,510 $ 1,431 $ 677 $ 30 $ 106,301

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 21

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

The table below presents the amortized cost basis of collateral-dependent HFI loans by portfolio segment.

June 30, 2025 December 31, 2024

(dollars in thousands) Business/Other Assets Real Estate Business/Other Assets Real Estate

2 unchanged sentences

Owner occupied - commercial real estate — 17,525 — 37,746

Real estate mortgage- residential — 5,736 — —

Construction - commercial and residential — 19,488 — —

Home equity — 507 — 303

21 unchanged sentences

The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors, which may work to the advantage and strengthening of the assets, its classification as an estimated loss is deferred until its more exact status may be determined.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 22

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

The Company's credit quality indicators are generally updated annually, however, credits rated "Special Mention" or below are reviewed more frequently.

Based on the most recent analysis performed, the amortized cost basis of HFI loans by risk category, class and year of origination, along with any charge-offs that were recorded in the applicable loan segment, if applicable, were as follows:

The table below presents the amortized cost basis of HFI loans by risk category, class and year of origination, along with any charge-offs that were recorded in the applicable loan segment, if applicable.

(dollars in thousands) Prior 2021 2022 2023 2024 2025

2 unchanged sentences

to Term Total

March 31, 2025

As of June 30, 2025

Pass $ 143,121 $ 32,967 $ 43,524 $ 64,821 $ 102,890 $ 188,723 $ 530,157 $ 629 $ 1,106,832

18 unchanged sentences

Pass 15,800 6,460 12,074 5,851 — — — — 40,185

Substandard 5,736 — — — — — — — 5,736

Total 21,536 6,460 12,074 5,851 — — — — 45,921

5 unchanged sentences

Total 76,484 156,785 599,180 238,460 10,763 1,284 127,775 997 1,211,728

YTD gross charge-offs ( 10,703 ) — — — — — — — ( 10,703 )

Construction - C&I (owner occupied):

5 unchanged sentences

Pass — — — — 10 649 2,117 — 2,776

Total — — — — 12 — 786 — 798

YTD gross charge-offs ( 3 ) — — — — — — ( 32 ) ( 35 )

1 unchanged sentence

Total YTD gross charge-offs $ ( 61,867 ) $ ( 218 ) $ — $ — $ — $ — $ ( 10,750 ) $ ( 32 ) $ ( 72,867 )

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 23

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

(dollars in thousands) Prior 2020 2021 2022 2023 2024

2 unchanged sentences

to Term Total

December 31, 2024

As of December 31, 2024

Pass $ 132,595 $ 26,775 $ 133,400 $ 110,439 $ 89,608 $ 104,927 $ 513,645 $ 4,394 $ 1,115,783

22 unchanged sentences

Special Mention — — 4,964 — — — — — 4,964

— — 4,964 — — — — — 4,964

Substandard 5,683 — 4,890 — — — — — 10,573

14 unchanged sentences

Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions.

Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due.

Loans may be placed on nonaccrual status whether or not such loans are considered past due.

Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due.

Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The following table presents, by portfolio segment, information related to the amortized cost basis of nonaccrual HFI loans as of March 31, 2025 and December 31, 2024.

March 31, 2025 December 31, 2024

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 24

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

The table below presents, by portfolio segment, information related to the amortized cost basis of nonaccrual HFI loans.

June 30, 2025 December 31, 2024

(dollars in thousands) Nonaccrual with No Allowance for Credit Loss Nonaccrual with an Allowance for Credit Losses Total Nonaccrual Loans Nonaccrual with No Allowance for Credit Loss Nonaccrual with an Allowance for Credit Losses Total Nonaccrual Loans

3 unchanged sentences

Real estate mortgage - residential 5,735 134 5,869 — 157 157

Construction- commercial and residential 4,851 14,637 19,488 — — —

Home equity 507 — 507 303 — 303

$ 126,579 $ 99,841 $ 226,420 $ 49,608 $ 159,098 $ 208,706

(1) Gross coupon interest income of $ 3.1 million, and $ 1.3 million would have been recorded for the three months ended March 31, 2025 and 2024, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while interest actually recorded on such loans were $ 1.6 million, and none for the three months ended March 31, 2025 and 2024, respectively.

See Note 1 to the Consolidated Financial Statements for a description of the Company’s policy for placing loans on nonaccrual status.

The following table presents, by portfolio segment, an aging analysis and the recorded investments in HFI loans past due as of March 31, 2025 and December 31, 2024:

(1) Gross coupon interest income of $ 10.2 million, and $ 2.9 million would have been recorded for the six months ended June 30, 2025 and 2024 respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while interest actually recorded on such loans were $ 6.7 million, and none for the six months ended June 30, 2025 and 2024, respectively.

See "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements for a description of the Company’s policy for placing loans on nonaccrual status.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 25

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

The table below presents, by portfolio segment, an aging analysis and the recorded investments in HFI loans past due.

(dollars in thousands) Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 Days or More Past Due Total Past Due Loans Current Loans Nonaccrual Loans Total Recorded Investment in Loans

March 31, 2025

As of June 30, 2025

Commercial $ 258 $ 2,808 $ — $ 3,066 $ 1,201,010 $ 3,436 $ 1,207,512

8 unchanged sentences

Total $ 30,425 $ 4,252 $ — $ 34,677 $ 7,460,567 $ 226,420 $ 7,721,664

December 31, 2024

As of December 31, 2024

Commercial $ 5,121 $ 3,759 $ — $ 8,880 $ 1,172,413 $ 2,048 $ 1,183,341

17 unchanged sentences

Construction loans modified in a loan restructuring may also involve extending the interest-only payment period.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 26

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

Loans modified in a loan restructuring for the Company may have the financial effect of increasing the specific allowance associated with the loan.

4 unchanged sentences

The allowance may be increased, adjustments may be made in the allocation of the allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan.

The following table presents the amortized cost basis as of March 31, 2025 and 2024, and the financial effect of HFI loans modified to borrowers experiencing financial difficulty during the three months ended March 31, 2025 and 2024:

(dollars in thousands) Term Extension Combination - Term Extension and Principal Payment Delay Total Percentage of Total Loan Type Weighted Average Term and Principal Payment Extension (1)

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 27

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

The table below presents the amortized cost basis and the financial effect of HFI loans modified for borrowers experiencing financial difficulty.

(dollars in thousands) Term Extension Combination - Term Extension and Principal Payment Delay Combination - Principal Payment Delay and Interest Rate Reduction

Combination - Term Extension, Principal Payment Delay and Interest Rate Reduction Total Percentage of Total Loan Type Weighted Average Term and Principal Payment Extension (1)

Weighted Average Interest Rate Reduction (2)

March 31, 2025

For the Three Months Ended June 30, 2025

Commercial $ 13,554 $ 10,490 $ — $ — $ 24,044 2.0 % 13 months — %

Income producing - commercial real estate

— 70,296 70,296 1.8 % 5 months — %

Income producing - commercial real estate 4,070 103,593 — — 107,663 2.9 % 25 months — %

Owner occupied - commercial real estate 12,711 — — — 12,711 0.9 % 4 months — %

Real estate mortgage - residential — 5,736 — — 5,736 12.5 % 6 months — %

Construction - commercial and residential 1,900 11,161 — — 13,061 1.1 % 8 months — %

Total $ 32,235 $ 130,980 $ — $ — $ 163,215

March 31, 2024

For the Three Months Ended June 30, 2024

Commercial $ 36,303 $ — $ 7,896 $ — $ 44,199 3.6 % 6 months 1.63 %

Income producing - commercial real estate

— 50,926 50,926 1.3 % 3 months — %

Income producing - commercial real estate 0 83,368 — 3,510 86,878 2.9 % 4 months 3.59 %

Owner occupied - commercial real estate 876 — — — 876 0.1 % 12 months — %

Construction - commercial and residential 0 11,012 — — 11,012 1.0 % 9 months — %

Total $ 37,179 $ 94,380 $ 7,896 $ 3,510 $ 142,965

For the Six Months Ended June 30, 2025

Commercial $ 16,855 $ 10,490 $ — $ — $ 27,345 2.3 % 20 months — %

Income producing - commercial real estate 4,070 137,203 — — 141,273 3.7 % 23 months — %

Owner occupied - commercial real estate 12,711 — — — 12,711 0.9 % 4 months — %

Real estate mortgage - residential — 5,736 — — 5,736 12.5 % 6 months — %

Construction - commercial and residential 1,900 11,161 — — 13,061 1.1 % 8 months — %

Total $ 35,536 $ 164,590 $ — $ — $ 200,126

For the Six Months Ended June 30, 2024

Commercial $ 36,303 $ — $ 7,896 $ — $ 44,199 3.6 % 8 months 1.63 %

Income producing - commercial real estate — 119,252 — 3,510 122,762 2.9 % 4 months 3.59 %

Owner occupied - commercial real estate 876 — — — 876 0.1 % 12 months — %

Construction - commercial and residential — 11,012 — — 11,012 1.0 % 9 months — %

Total $ 37,179 $ 130,264 $ 7,896 $ 3,510 $ 178,849

(1) For loans that received multiple modifications during the year, weighted average term and principal payment extensions were calculated based on the aggregate impact of the extensions received during the period.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 28

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

(2) The weighted average is calculated based on the total amortized cost of loans, at the year-end, that received interest rate reduction modifications during the year.

The following table presents the performance of HFI loans modified during the prior twelve months to borrowers experiencing financial difficulty during the three months ended March 31, 2025 and 2024:

March 31, 2025

The table below presents the performance of HFI loans modified during the prior twelve months for borrowers experiencing financial difficulty.

June 30, 2025

Payment Status (Amortized Cost Basis)

3 unchanged sentences

Owner occupied - commercial real estate 12,711 — — —

Real estate mortgage - residential — 5,736

Construction - commercial and residential 18,083 — — 9,831

Construction - C&I (owner occupied) — — — —

Total $ 194,533 $ 5,656 $ — $ 79,498

March 31, 2024

June 30, 2024

Payment Status (Amortized Cost Basis)

4 unchanged sentences

Construction - commercial and residential 11,012 — — —

Real estate mortgage - residential 2,478 — — —

Total $ 181,823 $ 3,447 $ — $ 66,364

1 unchanged sentence

To determine the existence of a payment default, the Company analyzes the economic conditions that exist for each borrower and their ability to generate positive cash flow during a given loan's term.

The following table presents the amortized cost basis of HFI loans that were experiencing payment default as of March 31, 2025 and December 31, 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty:

March 31, 2025

The table below presents the amortized cost basis of HFI loans that were experiencing payment default and were modified in the twelve months prior to that default for borrowers experiencing financial difficulty.

June 30, 2025

Amortized Cost Basis

(dollars in thousands) Term Extension Combination - Term Extension and Principal Payment Delay Combination - Term Extension, Principal Payment Delay and Interest Rate Reduction

Commercial $ — $ 518 $ —

Income producing - commercial real estate — 69,069 —

Real estate mortgages - residential — 5,736 —

Construction - commercial and residential — 9,831 —

Total $ — $ 85,154 $ —

December 31, 2024

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 29

Table of Contents Notes to Consolidated Financial Statements | Note 4 – Loans and Allowance for Credit Losses

June 30, 2024

Amortized Cost Basis

2 unchanged sentences

Income producing - commercial real estate — 47,234 —

Owner occupied - commercial real estate — 19,130 —

Total $ 3,447 $ 66,364 $ —

8 unchanged sentences

Substantially all of our leases are classified as operating leases and are included in operating lease right-of-use ("ROU") assets and operating lease liabilities in the Consolidated Balance Sheet.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease.

ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.

ROU assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease.

ROU assets and operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term.

In determining the present value of the lease payments, we use the implicit lease rate if available.

1 unchanged sentence

The incremental borrowing rate is the rate of interest that we would have to pay to borrow on a collateralized basis over a similar term in an amount equal to the lease payments in a similar economic environment.

As of March 31, 2025 and December 31, 2024, the Company had $ 32.8 million and $ 18.5 million of operating lease ROU assets respectively, and $ 38.5 million and $ 23.8 million of operating lease liabilities respectively, on the Company’s Consolidated Balance Sheets.

The Company elects not to recognize ROU assets and lease liabilities arising from short-term leases, leases with initial terms of twelve months or less or equipment leases (deemed immaterial) on the Consolidated Balance Sheet.

As of June 30, 2025 and December 31, 2024, the Company had $ 31.2 million and $ 18.5 million of operating lease ROU assets respectively, and $ 37.3 million and $ 23.8 million of operating lease liabilities respectively, on the Company’s Consolidated Balance Sheets.

The Company elects not to recognize ROU assets and operating lease liabilities arising from short-term leases, leases with initial terms of twelve months or less or equipment leases (deemed immaterial) on the Consolidated Balance Sheet.

The leases contain options to extend or terminate the lease, which are recognized as part of the ROU assets and lease liabilities when an economic benefit to exercise the option exists and there is a 90 % probability that the Company will exercise the option.

If these criteria are not met, the options are not included in our ROU assets and lease liabilities.

As of March 31, 2025, our leases do not contain material residual value guarantees or impose restrictions or covenants related to dividends or the Company’s ability to incur additional financial obligations.

During the three months ended March 31, 2025, the Company commenced a new lease for its future headquarters at 7500 Old Georgetown Road in downtown Bethesda, MD.

The lease commencement date was January 1, 2025, and it matures on July 31, 2037.

The following table presents lease costs and other lease information.

Three Months Ended March 31,

If these criteria are not met, the options are not included in our ROU assets and operating lease liabilities.

As of June 30, 2025, our leases do not contain material residual value guarantees or impose restrictions or covenants related to dividends or the Company’s ability to incur additional financial obligations.

On January 1, 2025, the Company commenced a new lease for its future headquarters at 7500 Old Georgetown Road in downtown Bethesda, MD.

The lease expires on July 31, 2037.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 30

Table of Contents Notes to Consolidated Financial Statements | Note 5 – Leases

The tables below present lease costs and other lease information.

For the Three Months Ended June 30, For the Six Months Ended June 30,

(dollars in thousands) 2025 2024 2025 2024

4 unchanged sentences

Operating lease - operating cash flows (fixed payments) $ 1,512 $ 1,731 $ 3,011 $ 3,509

(dollars in thousands) March 31, 2025 December 31, 2024

(dollars in thousands) June 30, 2025 December 31, 2024

Right-of-use assets - operating leases $ 31,202 $ 18,494

2 unchanged sentences

Weighted average discount rate - operating leases 3.58 % 3.03 %

Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2025 were as follows:

(dollars in thousands)

The table below presents the future minimum payments for operating leases with initial or remaining terms of one year or more.

(dollars in thousands) As of June 30, 2025

Twelve months ended:

March 31, 2026 $ 5,445

March 31, 2027 4,692

March 31, 2028 4,922

March 31, 2029 4,785

March 31, 2030 4,272

June 30, 2026 $ 5,022

June 30, 2027 4,831

June 30, 2028 4,918

June 30, 2029 4,693

June 30, 2030 4,102

Thereafter 21,357

6 unchanged sentences

The Company manages economic risks, including interest rate, liquidity and credit risk primarily by managing the amount, sources and duration of its assets and liabilities and the use of derivative financial instruments.

Fair Value Hedges of Interest Rate Risk

The Company during the quarter ended June 30, 2025 utilized interest rate swaps, accounted for as fair value hedges, to protect itself against adverse fluctuations in interest rates in fixed-rate available-for-sale securities.

These swaps consisted of pay-fixed, receive-floating interest rate swaps used to hedge the designated benchmark interest rate.

Assuming the hedging relationship qualifies as highly effective, adjustments will be made to record the hedging instrument at fair value on the balance sheet, with changes in fair value recognized in other comprehensive income (loss).

Changes in fair value of the hedged item attributable to changes in the hedged risk will be reclassified out of other comprehensive income (loss) through interest income each period to offset changes in fair value of the hedging instrument, which are also recognized in interest income.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 31

Table of Contents Notes to Consolidated Financial Statements | Note 6 – Derivatives and Hedging Activities

Cash Flow Hedges of Interest Rate Risk

14 unchanged sentences

The Company minimizes this risk by entering into derivative contracts with only large, stable financial institutions, and the Company has not experienced, and does not expect, any losses from counterparty nonperformance on the interest rate derivatives.

The Company monitors counterparty risk in accordance with the provisions of ASC 815, "Derivatives and Hedging." In addition, the interest rate derivative agreements contain language outlining collateral-pledging requirements for each counterparty.

As of March 31, 2025, the Company had posted $ 43.1 million of cash collateral with other financial institutions and held $ 57.5 million of cash collateral on behalf of other financial institutions.

The Company monitors counterparty risk in accordance with the provisions of ASC 815, "Derivatives and Hedging" .

In addition, the interest rate derivative agreements contain language outlining collateral-pledging requirements for each counterparty.

As of June 30, 2025, the Company had posted $ 1.7 million of cash collateral with other financial institutions and held $ 11.9 million of cash collateral on behalf of other financial institutions.

The interest rate derivative agreements detail:

1) that collateral be posted when the market value exceeds certain threshold limits associated with the secured party's exposure;

2) if the Company defaults on any of its indebtedness (including default where repayment of the indebtedness has not been accelerated by the lender), then the Company could also be declared

in default on its derivative obligations;

2) if the Company defaults on any of its indebtedness (including default where repayment of the indebtedness has not been accelerated by the lender), then the Company could also be declared in default on its derivative obligations;

and 3) if the Company fails to maintain its status as a well-capitalized institution then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements.

The table below identifies the balance sheet category and fair value of the Company’s derivative instruments as of March 31, 2025 and December 31, 2024.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 32

Table of Contents Notes to Consolidated Financial Statements | Note 6 – Derivatives and Hedging Activities

The table below identifies the balance sheet category and fair value of the Company’s derivative instruments.

The Company has a minimum collateral posting threshold with its derivative counterparty.

If the Company had breached any provisions under the agreement as of March 31, 2025, it could have been required to settle its obligations under the agreement at the termination value.

March 31, 2025 December 31, 2024

If the Company had breached any provisions under the agreement as of June 30, 2025, it could have been required to settle its obligations under the agreement at the termination value.

June 30, 2025 December 31, 2024

(dollars in thousands) Notional

3 unchanged sentences

Derivatives in an asset position:

Derivatives designated as hedging instruments:

Interest rate product $ 28,469 $ 11 Other Assets $ — $ — Other Assets

Derivatives not designated as hedging instruments:

1 unchanged sentence

Credit risk participation agreements 49,480 — Other Liabilities 49,480 — Other Liabilities

Total 859,006 27,556 746,566 31,592

Total derivatives in an asset position $ 887,475 $ 27,567 $ 746,566 $ 31,592

2 unchanged sentences

Interest rate product $ 809,526 $ 24,590 Other Liabilities $ 697,086 $ 29,110 Other Liabilities

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024.

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations.

Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Operations

1 unchanged sentence

Income on Derivative Amount of Gain or (Loss) Recognized in Income on Derivatives

Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

2025 2024 2025 2024

Derivatives Not Designated as Hedging Instruments under ASC 815-20:

Interest rate products Other income / (expense) $ 566 $ 239 $ 560 $ 478

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 33

Table of Contents Notes to Consolidated Financial Statements | Note 7 – Deposits

Note 7 – Deposits

The following table provides information regarding the Bank’s deposit composition as of March 31, 2025 and December 31, 2024:

(dollars in thousands) March 31, 2025 December 31, 2024

The table below presents the Bank’s deposit composition.

(dollars in thousands) June 30, 2025 December 31, 2024

Noninterest-bearing demand $ 1,532,132 $ 1,544,403

3 unchanged sentences

Total $ 9,119,607 $ 9,131,078

The remaining maturity of time deposits as of March 31, 2025 and December 31, 2024 were as follows:

(dollars in thousands) March 31, 2025 December 31, 2024

The table below represents the remaining maturity of time deposits.

(dollars in thousands) June 30, 2025 December 31, 2024

2025 $ 1,631,289 $ 2,210,348

5 unchanged sentences

Total $ 3,424,241 $ 2,775,663

As of March 31, 2025 and December 31, 2024, time deposit accounts in excess of $250 thousand were as follows:

(dollars in thousands) March 31, 2025 December 31, 2024

The table below represents the time deposit accounts in excess of $250 thousand.

(dollars in thousands) June 30, 2025 December 31, 2024

Three months or less $ 540,228 $ 189,817

More than three months through six months 292,140 387,849

526,434 387,849

More than six months through twelve months 541,474 710,021

1 unchanged sentence

Total $ 1,868,172 $ 1,709,217

As of March 31, 2025, total brokered deposits were $ 3.8 billion, or 41 % of total deposits, compared to $ 4.0 billion, or 44 % as of December 31, 2024.

As of June 30, 2025, total brokered deposits were $ 3.5 billion, or 38 % of total deposits, compared to $ 4.0 billion, or 44 %, as of December 31, 2024.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 34

Table of Contents Notes to Consolidated Financial Statements | Note 8 – Borrowings

Note 8 – Borrowings

The following table summarizes the Company’s borrowings, which include repurchase agreements with the Company’s customers and borrowings as of March 31, 2025 and December 31, 2024:

The table below summarizes the Company’s borrowings, which include repurchase agreements with the Company’s customers and borrowings.

(dollars in thousands) Borrowings - Principal Unamortized Deferred Issuance Costs Net Borrowings Outstanding Available Capacity (1)

Maturity Dates Interest Rates (2)

March 31, 2025

As of June 30, 2025

Customer repurchase agreements $ 23,442 $ — $ 23,442 $ — N/A 2.90 %

1 unchanged sentence

Secured borrowings:

FHLB 490,000 — 490,000 1,070,435 Various (3)

FHLB 50,000 — 50,000 1,363,585 July 11, 2025 4.40 %

Discount window — — — 1,754,682 N/A N/A

3 unchanged sentences

Total borrowings $ 151,107 $ ( 1,401 ) $ 149,706 $ 3,118,267

December 31, 2024

As of December 31, 2024

Customer repurchase agreements $ 33,157 $ — $ 33,157 $ — N/A 2.67 %

3 unchanged sentences

Discount window — — — 1,800,646 N/A N/A

Raymond James repurchase agreement — — — — N/A N/A

Total 490,000 — 490,000 2,674,916

2 unchanged sentences

Total borrowings $ 600,822 $ ( 1,557 ) $ 599,265 $ 2,674,916

(1) Available capacity on the Company's borrowings arrangements with the FHLB, the FRB and the Raymond James repurchase line comprise pledged collateral that has not been borrowed against.

As of March 31, 2025, the Company had total additional undrawn borrowing capacity of approximately $ 4.2 billion, comprising unencumbered securities available to be pledged of approximately $ 1.3 billion and undrawn financing on pledged assets of $ 2.9 billion.

(1) Available capacity on the Company's borrowings arrangements with the FHLB and the FRB comprise pledged collateral that has not been borrowed against.

As of June 30, 2025, the Company had total additional undrawn borrowing capacity of approximately $ 3.4 billion, comprising unencumbered securities available to be pledged of approximately $ 0.3 billion and undrawn financing on pledged assets of $ 3.1 billion.

(2) Represent the weighted average interest rate on customer repurchase agreements, borrowings outstanding and the coupon interest rate on the subordinated notes, which approximates the effective interest rate.

(3) FHLB borrowings of $ 240.0 million were paid off on April 1, 2025 and a balance of $ 250.0 million remains outstanding as of the filing of this report.

The Company’s repurchase agreements operate on a rolling basis and do not contain contractual maturity dates.

2 unchanged sentences

On September 30, 2024, the Company closed a private placement of its 10.00 % senior unsecured debt totaling $ 77.7 million maturing on September 30, 2029 (the "2029 Senior Notes" or "Original Notes").

As of March 31, 2025, the carrying value of these 2029 Senior Notes was $ 76.2 million which reflected $ 1.5 million in unamortized deferred financing costs that are being amortized over the life of the 2029 Senior Notes.

In connection with the issuance of the 2029 Senior Notes, the Company also entered into a registration rights agreement dated September 30, 2024 with the purchasers of the 2029 Senior Notes (the “Registration Rights Agreement”).

Pursuant to the Registration Rights Agreement, the Company filed an exchange offer registration statement with the SEC to exchange the Senior Notes for substantially identical notes registered under the Securities Act (the "Exchange Notes").

As of June 30, 2025, the carrying value of these 2029 Senior Notes was $ 76.3 million which reflected $ 1.4 million in unamortized deferred financing costs that are being amortized over the life of the 2029 Senior Notes.

The terms of the Exchange Notes are identical to the terms of the Original Notes, except that the transfer restrictions and registration rights applicable to the Original Notes do not apply to the Exchange Notes.

The Company completed the exchange offer on January 16, 2025.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 35

Table of Contents Notes to Consolidated Financial Statements | Note 9 – Net Income (Loss) per Common Share

Note 9 – Net Income (Loss) per Common Share

The calculation of net income (loss) per common share for the three months ended March 31, 2025 and 2024 was as follows:

Three Months Ended March 31,

The table below displays the calculation of net income (loss) per common share.

For the Three Months Ended June 30, For the Six Months Ended June 30,

(dollars and shares in thousands, except per share data) 2025 2024 2025 2024

4 unchanged sentences

Average common shares outstanding 30,375 30,186 30,325 30,127

Adjustment for common share equivalents 129 —

Average common shares outstanding-diluted 30,375 30,186 30,325 30,127

2 unchanged sentences

Anti-dilutive shares 136 48 136 54

(1) For periods ended with a net loss, anti-dilutive financial instruments have been excluded from the calculation of GAAP diluted EPS.

(1) For periods ended with a net loss, anti-dilutive financial instruments have been excluded from the calculation of GAAP diluted earnings per share.

Basic net income (loss) per share is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period.

3 unchanged sentences

To calculate diluted net income (loss) per share, the Company utilizes the Treasury Stock method which results in only an incremental number of shares added to shares outstanding during the period.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 36

Table of Contents Notes to Consolidated Financial Statements | Note 10 – Other Comprehensive Income (Loss)

Note 10 – Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2025 and 2024.

The table below presents the components of other comprehensive income (loss).

(dollars in thousands) Before Tax Tax Effect Net of Tax

Three Months Ended March 31, 2025

For the Three Months Ended June 30, 2025

Net unrealized gain (loss) on securities available-for-sale $ 13,296 $ ( 3,055 ) $ 10,241

Reclassification adjustment for net loss included in net income (loss)

Reclassification adjustment for net gain (loss) included in net income (loss)

1,854 ( 669 ) 1,185

Total unrealized gain (loss) on securities available-for-sale 15,150 ( 3,724 ) 11,426

25,669 ( 6,321 ) 19,348

Amortization of unrealized loss on securities transferred to held-to-maturity 1,565 ( 361 ) 1,204

Net unrealized loss on derivatives ( 24 ) 6 ( 18 )

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 1,633 ( 378 ) 1,255

Net unrealized gain (loss) on derivatives ( 142 ) 35 ( 107 )

Other comprehensive income (loss) $ 16,641 $ ( 4,067 ) $ 12,574

Three Months Ended March 31, 2024

For the Three Months Ended June 30, 2024

Net unrealized gain (loss) on securities available-for-sale $ 4,812 $ ( 1,183 ) $ 3,629

$ ( 6,693 ) $ 1,626 $ ( 5,067 )

Reclassification adjustment for net loss included in net income (loss)

Reclassification adjustment for net gain (loss) included in net income (loss)

( 3 ) 1 ( 2 )

Total unrealized gain (loss) on securities available-for-sale 4,809 ( 1,182 ) 3,627

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 1,725 ( 403 ) 1,322

Net unrealized gain (loss) on derivatives ( 32 ) 8 ( 24 )

Total unrealized gain (loss) on derivatives ( 32 ) 8 ( 24 )

Other comprehensive income (loss) $ 6,502 $ ( 1,577 ) $ 4,925

For the Six Months Ended June 30, 2025

Net unrealized gain (loss) on securities available-for-sale $ 38,968 $ ( 9,374 ) $ 29,594

Reclassification adjustment for net gain (loss) included in net income (loss)

1,850 ( 670 ) 1,180

Amortization of unrealized loss on securities transferred to held-to-maturity 1,731 ( 346 ) 1,385

Net unrealized loss on derivatives

Total unrealized gain (loss) on securities available-for-sale 40,818 ( 10,044 ) 30,774

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 3,197 ( 738 ) 2,459

Net unrealized gain (loss) on derivatives

( 166 ) 41 ( 125 )

Other comprehensive income (loss) $ 43,849 $ ( 10,741 ) $ 33,108

For the Six Months Ended June 30, 2024

Net unrealized gain (loss) on securities available-for-sale $ ( 1,881 ) $ 444 $ ( 1,437 )

Reclassification adjustment for net gain (loss) included in net income (loss)

( 7 ) 1 ( 6 )

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2025 and 2024.

(dollars in thousands) Securities Available

For Sale Held-to-Maturity Securities Derivatives Accumulated Other

Total unrealized gain (loss) on securities available-for-sale ( 1,888 ) 445 ( 1,443 )

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 3,456 ( 749 ) 2,707

Net unrealized gain (loss) on derivatives

331 ( 81 ) 250

Other comprehensive income (loss) $ 1,899 $ ( 385 ) $ 1,514

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 37

Table of Contents Notes to Consolidated Financial Statements | Note 10 – Other Comprehensive Income (Loss)

The table below presents the changes in each component of accumulated other comprehensive income (loss), net of tax.

(dollars in thousands) Available-for-Sale Securities Held-to-Maturity Securities Derivatives Accumulated Other

Comprehensive Income (Loss)

Three Months Ended March 31, 2025

For the Three Months Ended June 30, 2025

Balance at beginning of period $ ( 87,504 ) $ ( 33,435 ) $ — $ ( 120,939 )

$ ( 106,852 ) $ ( 34,639 ) $ 18 $ ( 141,473 )

Other comprehensive income (loss) before reclassifications 10,241 — ( 107 ) 10,134

Amortization of unrealized loss on securities transferred to held-to-maturity — 1,255 — 1,255

Amounts reclassified from accumulated other comprehensive loss ( 3 ) — — ( 3 )

Amounts reclassified from accumulated other comprehensive income (loss)

1,185 — — 1,185

Net other comprehensive income (loss) during period 11,426 1,255 ( 107 ) 12,574

Balance at end of period $ ( 76,078 ) $ ( 32,180 ) $ ( 107 ) $ ( 108,365 )

$ ( 87,504 ) $ ( 33,435 ) $ — $ ( 120,939 )

Three Months Ended March 31, 2024

For the Three Months Ended June 30, 2024

Balance at beginning of period $ ( 127,316 ) $ ( 38,544 ) $ 92 $ ( 165,768 )

$ ( 122,246 ) $ ( 39,929 ) $ ( 182 ) $ ( 162,357 )

Other comprehensive income (loss) before reclassifications 3,629 — ( 24 ) 3,605

Amortization of unrealized loss on securities transferred to held-to-maturity — 1,322 — 1,322

Amounts reclassified from accumulated other comprehensive income (loss)

( 2 ) — — ( 2 )

Net other comprehensive income (loss) during period 3,627 1,322 ( 24 ) 4,925

Balance at end of period $ ( 123,689 ) $ ( 37,222 ) $ 68 $ ( 160,843 )

For the Six Months Ended June 30, 2025

Balance at beginning of period $ ( 106,852 ) $ ( 34,639 ) $ 18 $ ( 141,473 )

Other comprehensive income (loss) before reclassifications 29,594 — ( 125 ) 29,469

Amortization of unrealized loss on securities transferred to held-to-maturity — 2,459 — 2,459

Amounts reclassified from accumulated other comprehensive loss ( 3 ) — — ( 3 )

Amounts reclassified from accumulated other comprehensive income (loss) 1,180 — — 1,180

Net other comprehensive income (loss) during period 30,774 2,459 ( 125 ) 33,108

( 5,070 ) 1,385 274 ( 3,411 )

Balance at end of period $ ( 76,078 ) $ ( 32,180 ) $ ( 107 ) $ ( 108,365 )

$ ( 127,316 ) $ ( 38,544 ) $ 92 $ ( 165,768 )

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2025 and 2024.

For the Six Months Ended June 30, 2024

Balance at beginning of period $ ( 122,246 ) $ ( 39,929 ) $ ( 182 ) $ ( 162,357 )

Other comprehensive income (loss) before reclassifications ( 1,437 ) — 250 ( 1,187 )

Amortization of unrealized loss on securities transferred to held-to-maturity — 2,707 — 2,707

Amounts reclassified from accumulated other comprehensive income (loss) ( 6 ) — — ( 6 )

Net other comprehensive income (loss) during period ( 1,443 ) 2,707 250 1,514

Balance at end of period $ ( 123,689 ) $ ( 37,222 ) $ 68 $ ( 160,843 )

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 38

Table of Contents Notes to Consolidated Financial Statements | Note 10 – Other Comprehensive Income (Loss)

The table below presents the amounts reclassified out of each component of accumulated other comprehensive income (loss).

Amount Reclassified from

3 unchanged sentences

Net Income (Loss) is Presented

Three Months Ended March 31,

For the Three Months Ended June 30, For the Six Months Ended June 30,

(dollars in thousands) 2025 2024 2025 2024

17 unchanged sentences

This category generally includes certain private equity investments, retained interests from securitizations and certain collateralized debt obligations.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 39

Table of Contents Notes to Consolidated Financial Statements | Note 11 – Fair Value Measurements

Assets and Liabilities Recorded at Fair Value on a Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024:

(dollars in thousands) Quoted Prices (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Other Unobservable Inputs (Level 3)

Total (Fair Value)

March 31, 2025

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis.

(dollars in thousands) Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total (Fair Value)

As of June 30, 2025

Investment securities available-for-sale:

2 unchanged sentences

Commercial mortgage-backed securities — 71,863 — 71,863

— 49,206 — 49,206

Municipal bonds — 7,845 — 7,845

2 unchanged sentences

Interest rate product — 27,567 — 27,567

Total assets measured at fair value on a recurring basis as of March 31, 2025 $ — $ 1,258,653 $ — $ 1,258,653

Total assets measured at fair value on a recurring basis as of June 30, 2025 $ — $ 1,235,632 $ — $ 1,235,632

Interest rate product $ — $ 24,590 $ — $ 24,590

Total liabilities measured at fair value on a recurring basis as of March 31, 2025 $ — $ 26,447 $ — $ 26,447

December 31, 2024

Total liabilities measured at fair value on a recurring basis as of June 30, 2025 $ — $ 24,590 $ — $ 24,590

As of December 31, 2024

Investment securities available-for-sale:

3 unchanged sentences

Commercial mortgage-backed securities — 48,945 — 48,945

— 48,945 — 48,945

Municipal bonds — 8,014 — 8,014

15 unchanged sentences

The fair value of RPAs is calculated by determining the total expected asset or liability exposure of the derivatives to the borrowers and applying the borrowers’ credit spread to that exposure.

Total expected exposure incorporates both the current and potential future exposure of the derivatives, derived from using observable inputs, such as yield curves and volatilities.

Total expected exposure incorporates

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 40

Table of Contents Notes to Consolidated Financial Statements | Note 11 – Fair Value Measurements

both the current and potential future exposure of the derivatives, derived from using observable inputs, such as yield curves and volatilities.

Accordingly, RPAs fall within Level 2.

8 unchanged sentences

Those individually assessed loans not requiring a specific allowance represent loans for which the fair value of expected repayments or collateral exceed the recorded investment in such loans.

As of March 31, 2025, substantially all of the Company’s individually evaluated loans were evaluated based upon the fair value of the collateral.

In accordance with ASC Topic 820, individually evaluated loans where an allowance is established based on the fair value of collateral, i.e.

those that are collateral dependent, require classification in the fair value hierarchy.

As of June 30, 2025, substantially all of the Company’s individually evaluated loans were evaluated based upon the fair value of the collateral.

In accordance with ASC Topic 820, individually evaluated loans where an allowance is established based on the fair value of collateral, i.e., those that are collateral dependent, require classification in the fair value hierarchy.

When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the loan as nonrecurring Level 2.

3 unchanged sentences

Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral, which the Company classifies as a Level 3 valuation.

Assets measured at fair value on a nonrecurring basis are included in the table below.

There were no liabilities measured at fair value on a non-recurring basis as of March 31, 2025 and December 31, 2024.

The table below presents a ssets measured at fair value on a nonrecurring basis.

There were no liabilities measured at fair value on a non-recurring basis as of June 30, 2025 and December 31, 2024.

(dollars in thousands) Quoted Prices

4 unchanged sentences

(Level 3) Total

March 31, 2025

As of June 30, 2025

Individually assessed loans:

2 unchanged sentences

Owner occupied - commercial real estate — — 15,025 15,025

Real estate mortgage - residential — — 5,736 5,736

Construction - commercial and residential — — 16,836 16,836

Consumer — — 507 507

Other real estate owned — — 2,459 2,459

Total assets measured at fair value on a nonrecurring basis as of March 31, 2025 $ — $ — $ 186,558 $ 186,558

Total assets measured at fair value on a nonrecurring basis as of June 30, 2025 $ — $ — $ 200,914 $ 200,914

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 41

Table of Contents Notes to Consolidated Financial Statements | Note 11 – Fair Value Measurements

(dollars in thousands) Quoted Prices

4 unchanged sentences

(Level 3) Total

December 31, 2024

As of December 31, 2024

Individually assessed loans:

6 unchanged sentences

As shown in the table above, certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP.

Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets after they are evaluated for impairment.

Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-fair value accounting or write-downs of individual assets after they are evaluated for impairment.

The primary assets accounted for at fair value on a nonrecurring basis are related to collateral-dependent loans that are individually assessed and other real estate owned.

11 unchanged sentences

In addition, the estimates are only indicative of individual financial instrument values, including in certain cases, the Company's estimation of exit pricing, and should not be considered an indication of the fair value of the Company taken as a whole.

The estimated fair values of the Company’s financial instruments as of March 31, 2025 and December 31, 2024 are as follows:

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 42

Table of Contents Notes to Consolidated Financial Statements | Note 11 – Fair Value Measurements

The table below presents the estimated fair values of the Company’s financial instruments.

Fair Value Measurements

5 unchanged sentences

Inputs (Level 3)

March 31, 2025

As of June 30, 2025

Cash and due from banks $ 14,005 $ 14,005 $ 14,005 $ — $ —

5 unchanged sentences

Loans held for sale 37,576 37,576 — 37,576 —

15,251 15,251 — 15,251 —

Loans held for investment 7,721,664 7,468,787 — — 7,468,787

7,943,306 7,713,251 — — 7,713,251

Bank owned life insurance 325,174 325,174 — 325,174 —

7 unchanged sentences

Other short-term borrowings 50,000 50,000 — 50,000 —

490,000 490,000 — 490,000 —

Long-term borrowings 76,264 79,607 — 79,607 —

1 unchanged sentence

Accrued interest payable 13,681 13,681 — 13,681 —

December 31, 2024

As of December 31, 2024

Cash and due from banks $ 11,882 $ 11,882 $ 11,882 $ — $ —

5 unchanged sentences

Loans held for investment 7,934,888 7,707,424 — — 7,707,424

7,934,888 7,707,424 — — 7,707,424

Bank owned life insurance 115,806 115,806 — 115,806 —

7 unchanged sentences

Other short-term borrowings 490,000 490,000 — 490,000 —

490,000 490,000 — 490,000 —

Long-term borrowings 76,108 82,916 — 82,916 —

1 unchanged sentence

Accrued interest payable 17,844 17,844 — 17,844 —

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 43

Table of Contents Notes to Consolidated Financial Statements | Note 12 – Segment Reporting

Note 12 – Segment Reporting

20 unchanged sentences

Due to the inherent uncertainty in predicting the outcome of a pending investigation, we are unable to estimate reasonably possible losses, if any, resulting from this matter.

Eagle Bancorp, Inc Second Quarter 2025 Form 10-Q 44

Table of Contents Management's Discussion and Analysis

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements