What changed in this filing

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Item 8. Financial Statements and Supplementary Data

2026-03-09 compared with 2025-02-27 · 769 added, 743 removed, 1418 unchanged (52% of the section changed)

28 unchanged sentences

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company;

and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

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and (3) provide reasonable

Eagle Bancorp, Inc 2025 Form 10-K

Report of Independent Registered Public Accounting Firm

assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

5 unchanged sentences

Allowance and Provision for Credit Losses on Loans

The allowance for credit losses (the “ACL”) is an accounting estimate of the expected credit losses in the HFI loans portfolio over the life of an exposure (or pool of exposures).

The allowance for credit losses ("ACL") is an accounting estimate of the expected credit losses in the HFI loans portfolio over the life of an exposure (or pool of exposures).

Expected credit losses are measured on a collective (pooled) basis for financial assets with similar risk characteristics.

16 unchanged sentences

• The Company’s preparation and review of the allowance for credit losses calculation, including the relevance and reliability of data used as the basis for adjustments related to the qualitative factors, the development and reasonableness of qualitative adjustments, and the mathematical accuracy and appropriateness of the overall calculation.

Eagle Bancorp, Inc 2025 Form 10-K

Report of Independent Registered Public Accounting Firm

• The completeness and accuracy of historical inputs, loan data used in the development of the PD and LGD assumptions, and the use of third-party data in the computation.

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Substantively testing management’s estimate, which included:

6 unchanged sentences

We have served as the Company's auditor since 2021.

Washington, D.C.

February 27, 2025

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Franklin, Tennessee

March 9, 2026

Eagle Bancorp, Inc 2025 Form 10-K

EAGLE BANCORP, INC.

3 unchanged sentences

Cash and due from banks $ 11,692 $ 14,463

Federal funds sold 2,581 3,740

Interest-bearing deposits with banks and other short-term investments 684,001 619,017

619,017 709,897

Investment securities available-for-sale (amortized cost of $ 1,055,146 and $ 1,408,935 , respectively, and allowance for credit losses of $ 0 and $ 22 , respectively)

3 unchanged sentences

Federal Reserve and Federal Home Loan Bank stock 28,327 51,763

Loans held for sale, at lower of cost or fair value 90,650 —

Loans held for investment, at amortized cost 7,280,459 7,934,888

7,934,888 7,968,695

Less allowance for credit losses ( 114,390 ) ( 85,940 )

Allowance for credit losses ( 159,604 ) ( 114,390 )

Loans held for investment, net of allowance 7,120,855 7,820,498

7,820,498 7,882,755

Premises and equipment, net 12,800 7,694

2 unchanged sentences

Bank-owned life insurance 335,177 115,806

115,806 112,921

Goodwill and other intangible assets, net

Other real estate owned 2,059 2,743

3 unchanged sentences

Noninterest-bearing demand $ 1,433,952 $ 1,544,403

$ 1,544,403 $ 2,279,081

Interest-bearing transaction 1,038,154 1,211,791

1,211,791 997,448

Savings and money market 3,624,813 3,599,221

3 unchanged sentences

Other short-term borrowings — 490,000

490,000 1,369,918

Long-term borrowings 76,428 76,108

7 unchanged sentences

Additional paid-in capital 382,499 384,932

384,932 374,888

Retained earnings 837,643 982,304

Accumulated other comprehensive income (loss) ( 89,159 ) ( 141,473 )

( 141,473 ) ( 162,357 )

Total Shareholders’ Equity 1,131,283 1,226,061

1 unchanged sentence

See Notes to Consolidated Financial Statements.

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Eagle Bancorp, Inc 2025 Form 10-K

EAGLE BANCORP, INC.

Consolidated Statements of Operations

Years Ended December 31,

(dollars in thousands, except per share data)

For the Year Ended December 31,

2025 2024 2023

3 unchanged sentences

Interest on balances with other banks and short-term investments 65,717 89,203 52,587

Interest on federal funds sold 433 287 861

Total interest income 604,482 687,563 625,327

3 unchanged sentences

Interest on other short-term borrowings 11,086 72,386 73,253

72,386 73,253 3,980

Interest on long-term borrowings 8,090 4,797 2,766

4,797 2,766 4,149

Total interest expense 334,595 398,875 334,781

2 unchanged sentences

Provision for (Reversal of) Credit Losses for Unfunded Commitments 1,627 ( 2,127 ) ( 267 )

( 2,127 ) ( 267 ) 1,477

Net Interest Income After Provision for (Reversal of) Credit Losses 224,455 259,277 331,124

Net Interest Income (Loss) After Provision for (Reversal of) Credit Losses ( 24,837 ) 224,455 259,277

Noninterest Income

Service charges on deposits 7,127 6,843 6,455

Gain on sale of loans 57 418 3,702

Net gain (loss) on sale of investment securities

Gain (loss) on sale of loans

( 4,687 ) 57 418

Net gain (loss) on sale of investment securities ( 3,823 ) 14 ( 11 )

Increase in the cash surrender value of bank-owned life insurance 20,372 2,885 2,659

8 unchanged sentences

FDIC insurance 31,413 29,009 11,853

SEC/FRB penalties — — 22,977

Goodwill impairment — 104,168 —

Legal contingency (Note 19)

Other expenses 27,598 13,479 15,509

1 unchanged sentence

Income (Loss) Before Income Tax Expense ( 196,184 ) ( 30,240 ) 127,520

Income Tax Expense 16,795 26,986 48,750

Income Tax Expense (Benefit)

( 58,132 ) 16,795 26,986

Net Income (Loss) $ ( 138,052 ) $ ( 47,035 ) $ 100,534

3 unchanged sentences

See Notes to Consolidated Financial Statements.

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Eagle Bancorp, Inc 2025 Form 10-K

EAGLE BANCORP, INC.

Consolidated Statements of Comprehensive Income (Loss)

Years Ended December 31,

(dollars in thousands)

For the Year Ended December 31,

2025 2024 2023

Net Income (Loss) $ ( 138,052 ) $ ( 47,035 ) $ 100,534

$ ( 47,035 ) $ 100,534 $ 140,930

Other comprehensive income (loss), net of tax:

Unrealized gain (loss) on securities available-for-sale 44,845 15,406 32,519

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

Reclassification adjustment for (gain) loss on fair value hedging relationships

Reclassification adjustment for net (gain) loss included in net income (loss) 2,629 ( 12 ) 8

Total unrealized gain (loss) on investment securities available-for-sale 47,366 15,394 32,527

15,394 32,527 ( 140,815 )

Unrealized loss on securities transferred to held-to-maturity — — ( 49,095 )

Amortization of unrealized loss on securities transferred to held-to-maturity 4,882 5,290 4,805

Total unrealized gain (loss) on investment securities held-to-maturity 5,290 4,805 ( 44,734 )

Unrealized gain (loss) on derivatives 27 200 ( 182 )

Reclassification adjustment for (gain) loss on cash flow hedging relationships

Total unrealized gain (loss) on derivatives 66 200 ( 182 )

Other comprehensive income (loss) 52,314 20,884 37,150

Comprehensive Income (Loss) $ ( 85,738 ) $ ( 26,151 ) $ 137,684

$ ( 26,151 ) $ 137,684 $ ( 44,335 )

See Notes to Consolidated Financial Statements.

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Eagle Bancorp, Inc 2025 Form 10-K

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 at January 1, 2022

Balance as of January 1, 2023

31,346,903 $ 310 $ 412,303 $ 1,015,215 $ ( 199,507 ) $ 1,228,321

Net Income — — — 140,930 — 140,930

Other comprehensive loss, net of tax — — — — ( 185,265 ) ( 185,265 )

Stock-based compensation expense — — 9,899 — — 9,899

Issuance of common stock related to options exercised, net of shares disposed for payroll taxes

Net Income (Loss)

— — — 100,534 — 100,534

Other comprehensive income (loss), net of tax

— — — — 37,150 37,150

Stock-based compensation expense — — 10,018 — — 10,018

Issuance of common stock under share-based compensation arrangements 157,560 1 ( 1 ) — — —

3 unchanged sentences

Common stock repurchased ( 1,600,000 ) ( 15 ) ( 48,018 ) — — ( 48,033 )

Balance at December 31, 2022 31,346,903 310 412,303 1,015,215 ( 199,507 ) 1,228,321

Net Income — — — 100,534 — 100,534

Other comprehensive income, net of tax

Balance as of December 31, 2023

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

Net Income (Loss)

— — — ( 47,035 ) — ( 47,035 )

Other comprehensive income (loss), net of tax

— — — — 20,884 20,884

Stock-based compensation expense — — 9,561 — — 9,561

4 unchanged sentences

Common stock repurchased — — — — — —

Balance at December 31, 2023 29,925,612 296 374,888 1,061,456 ( 162,357 ) 1,274,283

Balance as of December 31, 2024

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

Out-of-period adjustment (1)

— — ( 8,705 ) 8,705 — —

Balance as of January 1, 2025

30,202,003 298 376,227 991,009 ( 141,473 ) 1,226,061

Net Income (Loss)

— — — ( 138,052 ) — ( 138,052 )

Other comprehensive income, net of tax

Other comprehensive income (loss), net of tax

— — — — 52,314 52,314

5 unchanged sentences

Common stock repurchased — — — — — —

Balance at December 31, 2024 30,202,003 $ 298 $ 384,932 $ 982,304 $ ( 141,473 ) $ 1,226,061

Balance as of December 31, 2025

30,359,632 $ 300 $ 382,499 $ 837,643 $ ( 89,159 ) $ 1,131,283

(1) Refer to "Note 1 – Summary of Significant Accounting Policies" for further details on this out-of-period adjustment.

See Notes to Consolidated Financial Statements.

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Eagle Bancorp, Inc 2025 Form 10-K

EAGLE BANCORP, INC.

Consolidated Statements of Cash Flows

Years Ended December 31,

(dollars in thousands)

For the Year Ended December 31,

2025 2024 2023

1 unchanged sentence

Net Income (loss) $ ( 138,052 ) $ ( 47,035 ) $ 100,534

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Provision for credit losses 293,097 66,360 31,536

66,360 31,536 266

Provision for (reversal of) unfunded commitments

( 2,127 ) ( 267 ) 1,477

(Reversal of) provision for unfunded commitments 1,627 ( 2,127 ) ( 267 )

Goodwill impairment — 104,168 —

Depreciation and amortization 2,947 3,198 3,480

Gains on sale of loans ( 57 ) ( 418 ) ( 3,702 )

Net (gain) loss on mortgage servicing rights

Loss on mortgage servicing rights — ( 1,512 ) 142

Securities premium amortization (discount accretion), net 4,494 5,416 6,189

Origination of loans residential mortgage loans held for sale

— — ( 29,690 )

Securities premium amortization, net 5,416 6,189 9,011

Origination of loans held for sale — ( 29,690 ) ( 299,317 )

Proceeds from sale of loans held for sale — 36,842 343,503

Proceeds from sale of residential mortgage loans held for sale

Gains (loss) on sale of residential mortgage loans held for sale — ( 57 ) ( 418 )

Deferred income tax (benefit) expense ( 58,132 ) 2,601 ( 3,377 )

1 unchanged sentence

Net increase in cash surrender value of bank owned life insurance ( 20,372 ) ( 2,885 ) ( 2,659 )

Net (gain) loss on call/sale of investment securities

( 14 ) 11 169

Net (gain) loss on sale of investment securities 3,823 ( 14 ) 11

Stock-based compensation expense 7,046 9,561 10,018

Increase in other assets

( 7,703 ) ( 14,976 ) ( 26,162 )

Decrease (increase) in other assets ( 37,644 ) ( 7,703 ) ( 14,976 )

Increase (decrease) in other liabilities ( 28,686 ) ( 6,201 ) 58,395

( 6,201 ) 58,395 12,581

Net cash provided by operating activities 28,495 123,770 195,626

1 unchanged sentence

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

Proceeds from maturities of available-for-sale investment securities 115,404 123,782 261,999

Proceeds from sale/call of available-for-sale investment securities 141,100 8,303 6,225

Purchase of held-to-maturity investment securities — — ( 290,740 )

Proceeds from maturities of held-to-maturity investment securities

70,235 78,251 115,777

Proceeds from call of held-to-maturity investment securities 11,868 2,906 8,350

Purchases of Federal Reserve Bank stock

( 2,383 ) ( 299 ) ( 288 )

Net proceeds from (purchases of) Federal Home Loan Bank stock

( 23,633 ) 39,618 ( 30,626 )

Proceeds from maturities of available-for-sale securities 119,743 115,404 123,782

Proceeds from sale/call of available-for-sale securities 256,238 141,100 8,303

Proceeds from maturities of held-to-maturity securities 68,276 70,235 78,251

Proceeds from call of held-to-maturity securities 19,924 11,868 2,906

Purchases of Federal Reserve stock ( 197 ) ( 2,383 ) ( 299 )

Proceeds from (purchases of) Federal Home Loan Bank stock 23,634 ( 23,633 ) 39,618

Proceeds from sale of mortgage servicing rights — 4,798 —

Net increase in loans

( 6,982 ) ( 351,913 ) ( 570,977 )

Redemption of bank-owned life insurance

Net change in loans 207,617 ( 6,982 ) ( 351,913 )

Proceeds from sale of loans 95,381 — —

Net (purchase) redemption of bank owned life insurance ( 199,159 ) — 736

Proceeds from sale of other real estate owned 14,933 656 987

Purchases of premises and equipment ( 326 ) ( 70 ) ( 2,113 )

Net cash provided by (used in) investing activities

310,737 ( 97,699 ) ( 927,077 )

Purchase of premises and equipment ( 7,733 ) ( 326 ) ( 70 )

Net cash (used in) provided by investing activities 570,433 310,737 ( 97,699 )

Cash Flows From Financing Activities:

Increase (decrease) in deposits 2,528 323,039 94,857

323,039 94,857 ( 1,268,358 )

Increase (decrease) in customer repurchase agreements ( 33,157 ) 2,570 ( 4,513 )

2,570 ( 4,513 ) 11,182

Net Increase (decrease) in short-term borrowings

( 880,000 ) 324,999 675,001

Decrease in short-term borrowings ( 490,000 ) ( 880,000 ) 324,999

Net proceeds from long-term borrowings — 75,812 —

8 unchanged sentences

See Notes to Consolidated Financial Statements.

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EAGLE BANCORP, INC.

Consolidated Statements of Cash Flows - Continued

Years Ended December 31,

(dollars in thousands)

Eagle Bancorp, Inc 2025 Form 10-K

For the Year Ended December 31,

2025 2024 2023

Supplemental Cash Flow Information:

Supplemental Cash Flows Information:

Interest paid $ 342,469 $ 438,222 $ 376,841

Income taxes paid $ 8,210 $ 21,540 $ 23,453

Net cash paid (refunds received) for income taxes:

$ — $ 5,200 $ 21,500

1,460 3,010 40

Net cash paid (refunds received) for income taxes

$ 1,460 $ 8,210 $ 21,540

Income taxes paid (net of refunds) exceeded 5% threshold in the following jurisdictions:

Maryland $ 1,120 $ 2,790 N/A (1)

DC 340 N/A (1)

Supplemental Non-Cash Disclosures:

Initial recognition of operating lease right-of-use assets $ 15,941 $ 5,786 $ 418

Transfers of investment securities from available-for-sale to held-to-maturity $ — $ — $ 922,975

Transfer of loans for investment to loans held for sale $ 5,000 $ — $ —

Transfer of loans held for investment to loans held for sale 201,397 5,000 —

Transfers from loans to other real estate owned 12,600 2,370 —

(1) Did not exceed the reporting threshold of 5% for the period presented.

See Notes to Consolidated Financial Statements.

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Eagle Bancorp, Inc 2025 Form 10-K

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

EAGLE BANCORP, INC.

3 unchanged sentences

Eagle Bancorp, Inc.

(the "Parent") and its subsidiaries (together with the Parent, the “Company”), through EagleBank (the “Bank”), conducts a full service community banking business, primarily in Northern Virginia, Suburban Maryland and Washington, D.C.

The primary financial services offered by the Bank include real estate, commercial and consumer lending, as well as traditional deposit and repurchase agreement products.

(the "Parent") and its subsidiaries (together with the Parent, the "Company"), through EagleBank (the "Bank"), conduct a full service community banking business, primarily in Northern Virginia, Suburban Maryland and Washington, D.C.

The primary financial services offered by the Bank include real estate, commercial and consumer lending, as well as traditional deposit services.

The Bank is also active in the origination of small business loans.

The guaranteed portion of small business loans, guaranteed by the Small Business Administration ("SBA"), is typically sold to third party investors in a transaction apart from the loan’s origination.

The Bank offers its products and services through twelve banking offices, four lending centers and various digital capabilities, including PC and smartphone-enabled banking services.

Eagle Insurance Services, LLC, a subsidiary of the Bank that previously offered access to insurance products and services through a referral program with a third party insurance broker, continues to receive fee income in connection with such program.

Landroval Municipal Finance, Inc., a subsidiary of the Bank, focuses on lending to municipalities by buying debt on the public market as well as direct purchase issuance.

Principles of Consolidation

The Bank offers its products and services through twelve banking offices, four lending centers and various digital capabilities, including web-based and smartphone-enabled banking services.

The Bank has three active direct subsidiaries:

Bethesda Leasing, LLC, Eagle Insurance Services, LLC and Landroval Municipal Finance, Inc.

Bethesda Leasing, LLC holds title to and operates real estate owned and acquired through foreclosure.

Eagle Insurance Services, LLC, which previously offered access to insurance products and services through a referral program with a third party insurance broker, continues to receive fee income in connection with such program.

Landroval Municipal Finance, Inc.

focuses on lending to municipalities by buying debt on the public market as well as direct purchase issuance.

Principles of Consolidation and Basis of Presentation

The Consolidated Financial Statements include the accounts of the Company with all significant intercompany transactions eliminated.

EagleBank, a Maryland chartered commercial bank, is the Company’s principal subsidiary.

The investment in subsidiaries is recorded on the Company’s books (Parent Only) on the basis of its equity in the net assets of the subsidiary (see Note 24 "Parent Company Financial Information" for further detail) .

Basis of Presentation

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

The investment in subsidiaries is recorded on the Company’s books (Parent Only) on the basis of its equity in the net assets of the subsidiary (see "Note 23 – Parent Company Financial Information" for further details).

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.

The Consolidated Financial Statements reflect all adjustments, consisting of normal recurring adjustments, that in the opinion of management are necessary to present fairly the results for the periods presented.

1 unchanged sentence

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

The following is a summary of the significant accounting policies.

Use of Estimates

2 unchanged sentences

The allowance for credit losses ("ACL") is a material estimate that is particularly susceptible to significant variance in the near-term.

Out-of-Period Adjustment

The Company recorded an out-of-period adjustment in 2025 that had the net effect of increasing retained earnings and decreasing additional paid-in capital by $ 8.7 million.

The adjustment is the result of an identified error in the accounting for shares withheld to cover employee tax liabilities related to vested stock-based compensation.

The Company assessed the individual and aggregate impact of this adjustment on the current year and all prior periods and determined that the cumulative effect of the adjustments was not material to 2025 and did not result in a material misstatement to any previously issued annual or quarterly financial statements.

Consequently, the Company recorded the adjustment in 2025 and has not revised any previously issued amounts in the Company’s Consolidated Financial Statements.

Cash and Cash Equivalents and Statements of Cash Flows

For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, federal funds sold and interest bearing deposits with other banks that have an original maturity of three months or less.

For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks and interest-bearing deposits with other banks that have an original maturity of three months or less.

Net cash flows are reported for customer loan and deposit transactions, interest-bearing deposits in other financial institutions, federal funds purchased, repurchase agreements and other borrowings.

Eagle Bancorp, Inc 2025 Form 10-K

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

Interest-bearing Deposits in Other Financial Institutions

3 unchanged sentences

Investment securities comprise debt securities, which are classified depending on the Company's intent and ability to hold the securities to maturity.

Debt securities are classified as

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available-for-sale ("AFS") when management may have the intent to sell them prior to maturity.

Debt securities are classified as available-for-sale ("AFS") when management may have the intent to sell them prior to maturity.

Debt securities are classified as held-to-maturity ("HTM") and carried at amortized cost when management has the positive intent and ability to hold them to maturity.

2 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.

Declines in the fair value of individual available-for-sale securities below their cost that are other-than-temporary in nature result in write-downs of the individual securities to their fair value.

Factors affecting the determination of whether other-than-temporary impairment has occurred include a downgrading of the security by a rating agency or a significant deterioration in the financial condition of the issuer.

Management systematically evaluates investment securities for other-than-temporary declines in fair value on a quarterly basis.

This analysis requires management to consider various factors, which include the:

(1) magnitude of the decline in value;

(2) financial condition of the issuer or issuers;

and (3) structure of the security.

Premiums and discounts on HTM securities, like AFS securities, are amortized or accreted to the earlier of call or maturity based on expected lives, which include prepayment adjustments 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 held-to-maturity securities.

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.

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.

For the impairment of investment securities please see "Allowance for Credit Losses - AFS Securities" and "Allowance for Credit Losses - HTM Securities" below.

The Company classifies loans in its portfolio as held for investment (“HFI”) when management has the intent and ability to hold the loans for the foreseeable future or until maturity or payoff.

The Company classifies loans in its portfolio as either held for investment ("HFI"), when management has the intent and ability to hold the loans for the foreseeable future or until maturity or payoff, or held for sale ("HFS").

HFS loans are reported at the lower of cost or fair value on the Consolidated Balance Sheets.

HFI loans are stated at the principal amount outstanding, net of unamortized deferred costs and fees.

8 unchanged sentences

A loan is placed back on accrual status when both principal and interest are current and it is probable that we will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement.

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Besides our primary loan portfolio segments that are summarized below, the Company also regularly engages in the sale of the guaranteed portion of SBA loans originated by the Bank.

The sale of the guaranteed portion of SBA loans on a servicing retained basis gives rise to an excess servicing asset, which is computed on a loan by loan basis with the unamortized amount being included in intangible assets in the Consolidated Balance Sheets.

This excess servicing asset is being amortized on a straight-line basis (with adjustment for prepayments) as an offset to servicing fees collected and is included in other income in the Consolidated Statements of Operations.

Up until the second half of 2024, the Company originated multifamily FHA loans through the Department of Housing and Urban Development’s Multifamily Accelerated Program.

The Company securitized these loans through the

Eagle Bancorp, Inc 2025 Form 10-K

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

Government National Mortgage Association ("Ginnie Mae") MBS I program and sells the resulting securities in the open market to authorized dealers in the normal course of business and periodically bundles and sells the servicing rights.

When servicing was retained on multifamily FHA loans securitized and sold, the Company computed an excess servicing asset on a loan by loan basis.

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

Noninterest income includes gains from the sale of the Ginnie Mae securities and net revenues earned on the servicing of multifamily FHA loans underlying the Ginnie Mae securities.

Revenue from servicing commercial multifamily FHA mortgages is recognized as earned based on the specific contractual terms of the underlying servicing agreements, along with amortization of and changes in impairment of MSRs.

The Company previously regularly engaged in sale of residential mortgage loans held for sale through the end 2022.

In the first quarter of 2023, the Company ceased originations of first lien residential mortgage loans for secondary sale and completed residual origination and sales activities in the second quarter of 2023.

Collateral Dependent Financial Assets

For collateral dependent loans for which the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the asset as of the measurement date.

When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the net present value ("NPV") from the operation of the collateral.

When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the financial asset exceeds the fair value of the underlying collateral less estimated cost to sell.

The ACL may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the financial asset.

Loan Modifications to Borrowers in Financial Difficulty

The Company evaluates loan restructurings to determine if we have a loan modification and whether it results in a new loan or the continuation of the existing loan.

Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include situations where there are principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions, and combinations of the listed modifications.

A loan that is considered a modified loan may be subject to an individually-evaluated loan analysis if the commitment is $ 500 thousand or greater;

otherwise, the restructured loan remains in the appropriate segment in the ACL model and associated provisions are adjusted based on changes in the discounted cash flows resulting from the modification of the restructured loan.

Management strives to identify borrowers in financial difficulty early and work with them to modify their loan to more affordable terms before their loan reaches nonaccrual status, foreclosure or repossession of the collateral to minimize economic loss to the Company.

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:

For the Years Ended December 31,

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

For the Year Ended December 31,

(dollars in thousands) 2025

Provision for (reversal of) credit losses - loans $ 293,392 $ 67,005 $ 30,346

$ 67,005 $ 30,346 $ 103

Provision for credit losses - HTM debt securities ( 645 ) 1,190 766

Provision for (reversal of) credit losses - AFS debt securities

Provision for (reversal of) credit losses - HTM debt securities ( 295 ) ( 645 ) 1,190

Total Provision for credit losses $ 293,097 $ 66,360 $ 31,536

$ 66,360 $ 31,536 $ 266

Allowance for Credit Losses - Loans

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Expected recoveries are recorded to the extent they do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Eagle Bancorp, Inc 2025 Form 10-K

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

The ACL - Loans is measured on a collective pool basis when similar risk characteristics are present.

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For periods beyond which we are able to develop reasonable and supportable forecasts, we revert to the historical loss rate on a straight-line basis over a twelve-month period.

The Company uses a loan-level PD/LGD cash flow method with an EAD model to estimate expected credit losses.

In accordance with ASC 326, expected credit losses are measured on a collective (pooled) basis for financial assets with similar risk characteristics.

The bank groups collectively assessed loans using a call report code.

Some unique loan types, such as Paycheck Protection Program ("PPP") loans, are grouped separately due to their specific risk characteristics.

For each of the loan segments listed below, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, PD rates and LGD rates.

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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.

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

While our methodology in establishing the ACL attributes portions of the ACL and RUC to the separate loan pools or segments, the entire ACL and RUC is available to absorb credit losses in the total loan portfolio and total amount of unfunded credit commitments, respectively.

A summary of our primary portfolio segments is as follows:

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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.

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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.

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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.

Construction loans are impacted by fluctuations in collateral values and the ability of the borrower or ultimate purchaser to obtain permanent financing.

Eagle Bancorp, Inc 2025 Form 10-K

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

Construction – commercial and industrial ("C&I") (owner occupied) .

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The ACL also includes a qualitative adjustment for inherent risks not reflected in the historical quantitative analysis associated with the reasonable and supportable forecast.

Relevant factors include, but are not limited to, concentrations of credit risk, changes in underwriting standards, experience and depth of lending staff and trends in delinquencies.

While our methodology in establishing the reserve for credit losses attributes portions of the ACL and RUC to the commercial and consumer portfolio segments, the entire ACL and RUC is available to absorb credit losses expected in the total loan portfolio and total amount of unfunded credit commitments, respectively.

Relevant factors include, but are not limited to, concentrations of credit risk, appraisal risk from volatility in the market, changes in underwriting standards, experience and depth of lending staff and trends in delinquencies.

Our model may reflect assumptions by management that are not covered by the qualitative and environmental factors, and we reevaluate all of its factors quarterly.

For our cash flow model, management historically forecasted regional unemployment.

During the first quarter of 2024, management enhanced the cash flow model to incorporate three macroeconomic variables in addition to national unemployment.

The four economic variables selected, national unemployment, which was the original variable used, Commercial Real Estate ("CRE") Price Index, House Price Index and Gross Domestic Product ("GDP"), are incorporated by utilizing a Loss Driver Analysis approach that factors in historical losses, including during the Great Recession, of regional peer banks and the Bank.

Additionally, the ACL includes a qualitative reserve for CRE office loans (the "office overlay"), which reflects management’s assessment of continued uncertainty in that sector as well as potential lag effects from interest-rate sensitivity, valuation declines, and refinancing risk.

Management continues to monitor trends, including occupancy, capitalization rates, and market liquidity, across key metropolitan areas and may adjust qualitative reserves further as these factors evolve.

Our model may reflect assumptions by management that are not covered by the qualitative and environmental factors, and we reevaluate all of its factors quarterly.

The company uses four economic variables in its cash flow model:

national unemployment, Commercial Real Estate ("CRE") Price Index, House Price Index and Gross Domestic Product ("GDP"), which are incorporated by utilizing a Loss Driver Analysis approach that factors in historical losses, including during the Great Recession, of regional peer banks and the Bank.

The updated model incorporates a weighting of three economic scenarios;

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

The ACL also includes an amount for inherent risks not reflected in the historical analyses.

Relevant factors include, but are not limited to, concentrations of credit risk, changes in underwriting standards, experience and depth of lending staff and trends in delinquencies.

While our methodology in establishing the ACL attributes portions of the ACL and RUC to the separate loan pools or segments, the entire ACL and RUC is available to absorb credit losses expected in the total loan portfolio and total amount of unfunded credit commitments, respectively.

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

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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.

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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.

When management determines that foreclosure is probable, and for certain collateral-dependent loans where foreclosure is not considered probable, expected credit losses are based on the estimated fair value of the collateral adjusted for selling costs, when appropriate.

A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral.

A loan is considered collateral-dependent when the borrower is

Eagle Bancorp, Inc 2025 Form 10-K

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

experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral.

Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate.

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We do not measure an ACL on accrued interest receivable balances because these balances are written off in a timely manner as a reduction to interest income when loans are placed on nonaccrual status.

Loans Held for Sale

The Company regularly engages in the sale of the guaranteed portion of SBA loans originated by the Bank.

The Company previously regularly engaged in sale of residential mortgage loans held for sale through the end 2022.

The Company originated multifamily FHA loans through the Department of Housing and Urban Development’s Multifamily Accelerated Program.

The Company securitized these loans through the Government National Mortgage Association ("Ginnie Mae") MBS I program and sells the resulting securities in the open market to authorized dealers in the normal course of business and periodically bundles and sells the servicing rights.

When servicing was retained on multifamily FHA loans securitized and sold, the Company computed an excess servicing asset on a loan by loan basis.

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

Unamortized multifamily FHA mortgage servicing rights ("MSRs") were zero as of December 31, 2024 and $ 2.3 million as of December 31, 2023.

Noninterest Income includes gains from the sale of the Ginnie Mae securities and net revenues earned on the servicing of multifamily FHA loans underlying the Ginnie Mae securities.

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Collateral Dependent Financial Assets

The ACL may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the financial asset.

Loan Modifications to Borrowers in Financial Difficulty

The Company evaluates loan restructurings to determine if we have a loan modification and whether it results in a new loan or the continuation of the existing loan.

A loan that is considered a modified loan may be subject to an individually-evaluated loan analysis if the commitment is $ 500 thousand or greater;

Allowance for Credit Losses - AFS Securities

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Changes in the ACL are recorded as a provision for (or reversal of) credit losses.

Losses are charged against the allowance when management believes the uncollectability of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

We have made a policy election to exclude accrued interest from the amortized cost basis of AFS debt securities and report accrued interest separately in accrued interest and other assets in the Consolidated Balance Sheets.

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Accordingly, we do not recognize an allowance for credit loss against accrued interest receivable.

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Allowance for Credit Losses - HTM Securities

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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.

Eagle Bancorp, Inc 2025 Form 10-K

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

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation and amortization computed using the straight-line method for financial reporting purposes.

Premises and equipment are depreciated over the useful lives of the assets, which generally range from three to seven years for furniture, fixtures and equipment, three to five years for computer software and hardware and five to twenty years for leasehold improvements.

Premises and equipment are depreciated over the useful lives of the assets, which generally range from 3 to 7 years for furniture, fixtures and equipment, 3 to 5 years for computer software and hardware and 5 to 20 years for leasehold improvements.

Leasehold improvements are amortized over the terms of the respective leases, which may include renewal options where management has the positive intent to exercise such options or the estimated useful lives of the improvements, whichever is shorter.

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Goodwill and Other Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets acquired.

Other intangible assets include purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights.

Intangible assets that have finite lives, such as core deposit intangibles, are amortized over their estimated useful lives.

All intangible assets are subject to periodic impairment testing.

Intangible assets (other than goodwill) are amortized to expense using accelerated or straight-line methods over their respective estimated useful lives.

Goodwill is deemed to have an indefinite useful life and as such is not subject to amortization, and instead is subject to impairment testing at the reporting unit level, which must be conducted either at least annually, as well as when events or changes in circumstances indicate the assets might be impaired and/or upon the occurrence of a triggering event.

Various factors, such as the Company’s results of operations, the trading price of the Company’s common stock relative to the book value per share, macroeconomic conditions and conditions in the banking sector, inform whether a triggering event for an interim goodwill impairment test has occurred.

Goodwill is recorded and evaluated for impairment at its reporting unit, the Company.

The Company's policy is to test goodwill for impairment annually as of December 31, or on an interim basis if an event triggering an impairment assessment is determined to have occurred.

The Company has determined that it has a single reporting unit.

If the fair values of the reporting unit exceed the book value, no write-down of recorded goodwill is required.

If the fair value of a reporting unit is less than book value, an expense

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may be required to write-down the related goodwill to the proper carrying value.

Any impairment would be recorded through a reduction of goodwill or other intangible asset and an offsetting charge to noninterest expense.

Testing of goodwill impairment comprises a two-step process.

First, the Company performs a qualitative assessment to evaluate relevant events or circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount.

If the Company determines that it is more likely than not that an impairment has occurred, it proceeds to the quantitative impairment test, whereby it calculates the fair value of the reporting unit and compares it with its carrying amount, including goodwill.

In its performance of impairment testing, the Company has the unconditional option to proceed directly to the quantitative impairment test, bypassing the qualitative assessment.

If the carrying amount of the reporting unit exceeds the fair value, the amount by which the carrying amount exceeds fair value, up to the carrying value of goodwill, is recorded through earnings (loss) as an impairment charge.

If the results of the qualitative assessment indicate that it is not more likely than not that an impairment has occurred, or if the quantitative impairment test results in a fair value of the reporting unit that is greater than the carrying amount, then no impairment charge is recorded.

During the second quarter ended June 30, 2024, Management determined that a triggering event had occurred as a result of the share price trading under book value for more than four quarters due to the impact of changing macroeconomic conditions and rising interest rates on the banking industry, resulting in a sustained decrease in the Company's stock price.

During the quarter ended June 30, 2024, Management determined that a triggering event had occurred as a result of the share price trading under book value for more than four quarters due to the impact of changing macroeconomic conditions and rising interest rates on the banking industry, resulting in a sustained decrease in the Company's stock price.

As a result of the triggering event, the Company engaged a third-party service provider to assist Management with the determination of the fair value of the Company during the second quarter of 2024.

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automated teller machine ("ATM") fees) – These represent general service fees for monthly account maintenance and activity- or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue.

Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer).

Revenue is recognized when our performance obligation is completed

Eagle Bancorp, Inc 2025 Form 10-K

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

which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer).

Payment for such performance obligations is generally received at the time the performance obligations are satisfied.

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insurance commissions, investment advisory fees, credit card fees, interchange fees) – Generally, the Company receives compensation when a customer that it refers opens an account with certain third-parties.

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• Sale of OREO – The Company assesses whether it is "probable" that it will collect the consideration to which it will be entitled in exchange for transferring the asset to the customer.

Customer Repurchase Agreements

The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same securities.

The Company used to enter into agreements under which it sells securities subject to an obligation to repurchase the same securities.

Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets.

As a result, securities sold under agreements to repurchase are accounted for as collateralized financing arrangements and not as a sale and subsequent repurchase of securities.

The agreements are entered into primarily as accommodations for large commercial deposit customers.

The obligation to repurchase the securities is reflected as a liability in the Company’s Consolidated Balance Sheets, while the securities underlying the securities sold under agreements to repurchase remain in the respective asset accounts and are delivered to and held as collateral by third party trustees.

The Company discontinued this product offering in November 2025.

Marketing and Advertising

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Refer to "Note 15 – Stock-Based Compensation" for a description of stock-based compensation awards, activity and expense for the years ended December 31, 2025, 2024 and 2023.

The Company records the discount from the fair market value of shares issued under its Employee Share Purchase Plan as a component of Salaries and employee benefits expense in its Consolidated Statement of Operations.

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Eagle Bancorp, Inc 2025 Form 10-K

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

Earnings (Loss) per Common Share

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Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss).

Other comprehensive income (loss) includes unrealized gains and losses on debt securities available for sale, debt securities transferred to HTM from AFS, and derivatives, net of taxes.

Other comprehensive income (loss) includes unrealized gains and losses on debt securities available-for-sale, debt securities transferred to HTM from AFS, and unrealized gains and losses on derivatives as cash flow hedges (all net of taxes).

Other comprehensive income (loss) is recognized as a separate component of equity.

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Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated.

Management does not believe such matters exist that will have a material effect on the financial statements.

Other than the legal contingency discussed in Note 19 – Commitments and Contingent Liabilities, Management does not believe any additional matters exist that will have a material effect on the financial statements.

Segment Reporting

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We are currently in the process of evaluating this guidance.

2023-09, "Income Taxes (Topic 740):

Improvements to Income Tax Disclosures" ("ASU 2023-09").

The ASU requires additional income tax disclosures around effective tax rates and cash income taxes paid.

ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024 and interim periods within those fiscal years.

The Company is currently evaluating the effect that ASU 2023-09 will have on its consolidated financial statements.

2024-01, "Compensation—Stock Compensation (Topic 718):

Scope Application of Profits Interest and Similar Awards" ("ASU 2024-01") clarifies how an entity determines whether a profits interest or similar award (hereafter a "profits interest award") is accounted for either (1) as a share-based payment arrangement, and therefore, within the scope of ASC 718 or (2) not a share-based payment arrangement and therefore within the scope of other guidance.

ASU 2024-01 also

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improves the clarity and operation of the guidance in ASC 718-10-15-3.

The guidance in ASU 2024-01 applies to all entities that issue profits interest awards as compensation to employees or non-employees in exchange for goods or services.

For public business entities, the amendments are effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods.

For all other entities, the amendments are effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods.

Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance.

If an entity adopts the amendments in an interim period, it should adopt them as of the beginning of the annual period that includes that interim period.

The amendments should be applied (i) retrospectively to all prior periods presented in the financial statements or (ii) prospectively to profits interest and similar awards granted or modified on or after the date at which the entity first applies the amendments.

If the amendments are applied prospectively, an entity is required to disclose the nature of and reason for the change in accounting principle.

We are currently in the process of evaluating this guidance.

2024-02, "Codification Improvements—Amendments to Remove References to the Concepts Statements" ("ASU 2024-02") amends the Accounting Standard Codification (“Codification”) by removing references to various concepts statements.

In most instances, the references are extraneous and not required to understand or apply the guidance.

In other instances, the references were used in prior statements to provide guidance in certain topical areas.

As stated in paragraph 105-10-05-3 of the Codification, FASB Concepts Statements are non-authoritative.

These amendments will simplify the Codification which will further draw a distinction between authoritative and non-authoritative literature.

The amendments are effective for public business entities for fiscal years beginning after December 15, 2024.

For all other entities, the amendments are effective for fiscal years beginning after December 15, 2025.

Early application of the amendments is permitted for all entities, for any fiscal year or interim period for which financial statements have not yet been issued (or made available for issuance).

If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period.

An entity should apply the amendments using one of the following transition methods:

(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 are currently in the process of evaluating this guidance.

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

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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.

The tabular disclosure would also include certain other expenses, when applicable.

ASU 2024-03 does not change or remove existing expense disclosure requirements;

ASU 2024-03 does not change or remove existing

Eagle Bancorp, Inc 2025 Form 10-K

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

expense disclosure requirements;

however, it may affect where that information appears in the footnotes to the financial statements.

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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 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.

2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40)";

Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06") amends guidance related to the accounting for internal-use software development costs.

The amendments are intended to modernize the recognition and capitalization framework to reflect current software development practices, including iterative and agile methodologies, by removing references to "development stages".

It also clarifies the criteria for capitalization, which begins when both of the following occur:

(1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended.

The amendments in ASU 2025-06 are effective for annual periods beginning after December 15, 2027, and interim periods within those annual periods, which for the Company would be the fiscal first quarter ending March 31, 2028.

Early adoption is permitted as of the beginning of an annual reporting period.

ASU 2025-06 allows companies to elect one of the following adoption methods to apply its amendments:

a prospective transition approach, a retrospective transition approach, or a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption.

The Company is currently evaluating the impact the new accounting standard will have on its policy for capitalization of development costs for software intended for internal use.

2025-07, "Derivatives and Hedging (Topic 815)—Derivatives Scope Refinements (Issue 1)" ("ASU 2025-07").

I n September 2025, the FASB issued ASU 2025-07 to refine the scope of derivative accounting under ASC 815 and clarify the treatment of share-based noncash consideration from customers under ASC 606.

The update provides a new scope exception for certain contracts based on a party’s own operations, removing them from derivative accounting.

It also clarifies that share-based consideration from customers should be measured at fair value at contract inception and included in the transaction price only if the right to receive it is unconditional.

Subsequent fair value changes before the right becomes unconditional are not recognized in revenue.

The ASU is effective for annual periods beginning after December 15, 2026, with early adoption permitted, and transition options include prospective or modified retrospective application.

Entities will need to reassess existing contracts and update processes for valuation and revenue recognition related to customer share-based payments.

The Company is currently in the process of evaluating this guidance.

2025-09, " Derivatives and Hedging (Topic 815)— Hedge Accounting Improvements " ("ASU 2025-09").

In November 2025, the FASB issued ASU 2025-09 to provide significant improvements to hedge accounting under FASB ASC 815, primarily by giving companies more flexibility to align hedge accounting with their actual risk management, especially for variable-rate debt ("choose-your-rate"), nonfinancial asset hedges, and aggregated forecasts.

Key changes include allowing flexible switching between interest rate indexes for variable debt hedges, simplifying grouping of forecasted transactions (similar risk instead of shared risk), and resolving mismatches in complex dual-purpose hedges involving foreign currency debt.

The goal is to reduce complexity, cost, and align financial reporting with economic reality.

The ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods The Company is currently in the process of evaluating this guidance.

2025-12, " Codifications Improvements " ("ASU 2025-12").

In December 2025, the FASB issued ASU 2025-12 to make dozens of technical corrections, clarifications, and minor enhancements across various topics including simplifying diluted EPS calculations with losses, clarifying lease receivable disclosures, refining beneficial interest calculations, and streamlining treasury stock accounting.

The ASU is effective for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods.

The Company is currently in the process of evaluating this guidance.

Accounting Standards Adopted in 2025

2023-07, "Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures." ("ASU 2023-07") requires filers to disclose significant segment expenses, an amount and description for other segment items, the title and position of the entity’s chief operating decision maker ("CODM") and an explanation of how the CODM uses the reported measures of profit or loss to assess segment performance, and, on an interim basis, certain segment related disclosures that previously were required only on an annual basis.

ASU 2023-07 also clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements and that an entity is permitted to disclose multiple measures of segment profit or loss, provided that certain criteria are met.

ASU 2023-07 is effective for the Company for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.

Since early adoption is permitted, the Company adopted the guidance prescribed under ASU 2023-07 effective January 1, 2024.

Adoption of this guidance did not have a material impact on our consolidated financial statements for fiscal year 2024.

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2023-09, "Income Taxes (Topic 740):

Improvements to Income Tax Disclosures" ("ASU 2023-09").

The ASU required additional income tax disclosures around effective tax rates and cash income taxes paid.

ASU 2023-09 was effective for public business entities for annual periods beginning after December 15, 2024.

The new disclosure requirements were adopted retrospectively by the Company in 2025, and the requirements around

Eagle Bancorp, Inc 2025 Form 10-K

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

effective tax rates and cash income taxes paid only apply to year-end.

Refer to "Note 12 – Income Taxes" for further details.

2024-02, "Codification Improvements—Amendments to Remove References to the Concepts Statements" ("ASU 2024-02") amended the Accounting Standard Codification ("Codification") by removing references to various concepts statements.

These amendments simplified the Codification and further drew a distinction between authoritative and non-authoritative literature.

The amendments were effective for public business entities for fiscal years beginning after December 15, 2024.

Adoption of this guidance did not have a material impact on our consolidated financial statements.

Refer to "Note 12 – Income Taxes" in this report for the applied accounting standard.

Note 2 – Cash and Due from Banks

In the years ended December 31, 2024 and 2023, the Bank maintained average daily balances at the Federal Reserve Bank of Richmond ("Federal Reserve Bank") of $ 1.8 billion and $ 1.1 billion, respectively, on which interest is paid.

For the years ended December 31, 2025 and 2024, the Bank maintained average daily balances at the Federal Reserve Bank of Richmond ("Federal Reserve Bank") of $ 1.5 billion and $ 1.8 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 December 31, 2025

(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 $ 355,249 $ — $ ( 17,541 ) $ — $ 337,708

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Total available-for-sale securities $ 1,055,146 $ 269 $ ( 78,645 ) $ — $ 976,770

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

December 31, 2024

Investment securities held-to-maturity:

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

Commercial mortgage-backed securities 88,575 — ( 13,069 ) 75,506

Municipal bonds 114,060 — ( 11,389 ) 102,671

Corporate bonds 131,414 — ( 9,172 ) 122,242

Total 939,953 $ — $ ( 119,571 ) $ 820,382

allowance for credit losses ( 1,306 )

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

As of December 31, 2024

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

December 31, 2023

Investment securities available-for-sale:

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

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

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

December 31, 2023

Investment securities held-to-maturity:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 3 – Investment Securities

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

As of December 31, 2025

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

Residential mortgage-backed securities $ 544,402 $ — $ ( 58,836 ) $ 485,566

5 unchanged sentences

Total held-to-maturity securities, net of ACL $ 854,780

In addition, at December 31, 2024 and December 31, 2023, the Company held $ 51.8 million and $ 25.7 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.

As of December 31, 2024

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

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

Commercial mortgage-backed securities 88,575 — ( 13,069 ) 75,506

Municipal bonds 114,060 — ( 11,389 ) 102,671

Corporate bonds 131,414 — ( 9,172 ) 122,242

Total 939,953 $ — $ ( 119,571 ) $ 820,382

Allowance for credit losses

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

In addition, as of December 31, 2025 and 2024, the Company held $ 28.3 million and $ 51.8 million, respectively, in non-marketable equity securities 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.

The Company reassessed classification of certain investments in the first quarter of 2022 and, effective March 31, 2022, it transferred a total of $ 1.1 billion of MBS, municipal bonds and corporate bonds from available-for-sale to held-to-maturity securities, including $ 237.0 million of securities acquired in the first quarter of 2022 for which its intention to hold to maturity was finalized.

At the time of transfer, the Company reversed the allowance for credit losses associated with the available-for-sale securities through the provision for credit losses.

The securities were transferred at their amortized cost basis, net of any remaining unrealized gain or loss reported in accumulated other comprehensive income (loss).

The related unrealized loss of $ 66.2 million was included in other comprehensive loss at the time of transfer and, as of December 31, 2024, $ 44.8 million remains in accumulated other comprehensive loss, to be amortized out through interest income as a yield adjustment over the remaining term of the securities.

No gain or loss was recorded at the time of transfer.

Subsequent to transfer, the allowance for credit losses on these securities was evaluated under the accounting policy for held-to-maturity securities.

Accrued interest receivable on investment securities totaled $ 6.6 million and $ 7.6 million at December 31, 2024 and December 31, 2023, respectively.

As of December 31, 2025 and 2024, the Company had $ 38.5 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 $ 5.5 million and $ 6.6 million as of December 31, 2025 and 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:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 3 – Investment Securities

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.

As of December 31, 2025

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

Investment securities available-for-sale:

treasury bonds 1 $ — $ — $ 24,776 $ ( 212 ) $ 24,776 $ ( 212 )

agency securities 52 $ — $ — $ 337,708 $ ( 17,541 ) $ 337,708 $ ( 17,541 )

4 unchanged sentences

Total 203 $ — $ — $ 931,564 $ ( 78,645 ) $ 931,564 $ ( 78,645 )

Table o f Contents

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 212 $ 6,193 $ ( 521 ) $ 762,849 $ ( 80,350 ) $ 769,042 $ ( 80,871 )

As of December 31, 2024

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, 2023

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, 2023

Investment securities held-to-maturity:

4 unchanged sentences

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

Unrealized losses at December 31, 2024 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.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 3 – Investment Securities

As of December 31, 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.

The Company does not intend to sell and it is likely that it will not be required to sell the securities prior to their anticipated recovery.

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 December 31, 2024 and 2023, the Company had an allowance for credit losses outstanding of 22 thousand and 17 thousand, respectively, on its AFS securities and $ 1.3 million and $ 2.0 million, respectively, on its HTM securities, each of which primarily comprise allowances for corporate bonds.

Table o f Contents

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

Expected maturities for MBS will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

December 31, 2024

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

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 December 31, 2025 and 2024, the Company had an allowance for credit losses outstanding of zero and $ 22 thousand, respectively, on its AFS securities and $ 1.0 million and $ 1.3 million, respectively, on its HTM securities, each of which primarily comprise allowances for corporate bonds.

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.

As of December 31, 2025

(dollars in thousands) Amortized Cost Estimated Fair Value

19 unchanged sentences

Total $ 1,909,926 $ 1,751,717

During the years ended December 31, 2024, 2023 and 2022, proceeds from the sale or call of investment securities were $ 153.0 million, $ 11.2 million and $ 14.6 million, respectively.

During the year ended December 31, 2024, gross realized gains on sales and calls of investment securities were $ 14 thousand and gross realized losses on sales of investment securities were $ 0 .

During the year ended December 31, 2023, gross realized gains on sales of investment securities were $ 129 thousand and gross realized losses on sales of investment securities were $ 140 thousand.

During the year ended December 31, 2022, gross realized gains on sales of investment securities were $ 18 thousand and gross realized losses on sales of investment securities were $ 187 thousand.

At December 31, 2024 and 2023, 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 $ 0.4 billion and $ 2.1 billion, respectively, which were well in excess of required amounts in order to operationally provide significant reserve amounts for new business.

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

For the Year Ended December 31,

(dollars in thousands) 2025 2024 2023

Proceeds from sales and calls $ 276,162 $ 152,968 $ 11,209

Gross realized gains from sales and calls 20 14 129

Gross realized losses from sales and calls 3,843 — 140

As of December 31, 2025 and 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 $ 519.6 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 December 31, 2025 and 2024, there were no holdings of securities of any one issuer, other than the U.S.

1 unchanged sentence

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

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

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, at December 31, 2024 and 2023 are summarized by portfolio segment as follows:

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

December 31, 2025 December 31, 2024

1 unchanged sentence

Commercial $ 1,338,486 18 % $ 1,183,628 15 %

PPP loans 287 — % 528 — %

Income producing - commercial real estate 3,350,718 46 % 4,064,846 51 %

9 unchanged sentences

$ 7,120,855 $ 7,820,498

(1) Excludes accrued interest receivable of $ 42.9 million and $ 45.3 million at December 31, 2024 and 2023, respectively, which were recorded in other assets on the Consolidated Balance Sheets.

Unamortized net deferred fees and costs were $ 18.8 million and $ 27.0 million at December 31, 2024 and 2023, respectively.

(1) Excludes accrued interest receivable of $ 35.9 million and $ 42.9 million as of December 31, 2025 and 2024, respectively, which were recorded in other assets on the Consolidated Balance Sheets.

Unamortized net deferred fees and costs were $ 17.6 million and $ 18.8 million as of December 31, 2025 and 2024, respectively.

During the year ended December 31, 2025, certain loans, primarily income producing - commercial real estate loans, were reclassified from HFI to HFS loans with the lower of cost or fair value of $ 201.4 million.

As of December 31, 2025, the outstanding balance of these HFS loans was $ 90.7 million as reported on the Consolidated Balance Sheets, all of which were on nonaccrual status.

As of December 31, 2025 and 2024, the Bank serviced $ 81.5 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 for net proceeds of $ 4.8 million and a gain on sale of $ 1.5 million.

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

Real estate loans are secured primarily by duly recorded first deeds of trust or mortgages.

14 unchanged sentences

Each draw request shall also include the borrower’s soft cost breakdown certified by the borrower or their Chief Financial Officer.

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.

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

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

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

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.

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

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 5 to 7 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 at December 31, 2024.

ADC loans amounted to $ 1.2 billion as of December 31, 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 59 % of the outstanding ADC loan portfolio at December 31, 2024.

ADC loans that provide for the use of interest reserves represent approximately 38 % of the outstanding ADC loan portfolio as of December 31, 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.

Table o f Contents

The following table details activity in the ACL by portfolio segment for the years ended December 31, 2024, 2023 and 2022.

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.

Eagle Bancorp, Inc 2025 Form 10-K

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

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

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

Year Ended December 31, 2024

(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 Year Ended December 31, 2025

Allowance for credit losses:

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

Balance at beginning of period

$ 16,293 $ 65,375 $ 19,295 $ 472 $ 11,333 $ 1,079 $ 515 $ 28 $ 114,390

Loans charged-off ( 2,410 ) ( 205,661 ) ( 22,238 ) — ( 18,712 ) — ( 206 ) ( 35 ) ( 249,262 )

3 unchanged sentences

Ending balance $ 26,607 $ 98,707 $ 20,719 $ 339 $ 11,171 $ 1,515 $ 519 $ 27 $ 159,604

Year Ended December 31, 2023

For the Year Ended December 31, 2024

Allowance for credit losses:

5 unchanged sentences

Ending balance $ 16,293 $ 65,375 $ 19,295 $ 472 $ 11,333 $ 1,079 $ 515 $ 28 $ 114,390

Year Ended December 31, 2022

For the Year Ended December 31, 2023

Allowance for credit losses:

4 unchanged sentences

Provision for (reversal of) credit losses 2,273 20,057 517 ( 173 ) 7,353 270 55 ( 6 ) 30,346

2,028 ( 1,269 ) 556 520 ( 1,526 ) ( 399 ) 81 112 103

Ending balance $ 16,149 $ 44,447 $ 13,006 $ 778 $ 9,077 $ 1,861 $ 598 $ 24 $ 85,940

The following table presents the amortized cost basis of collateral-dependent HFI loans by portfolio segment as of December 31, 2024 and 2023:

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

December 31, 2025 December 31, 2024

2 unchanged sentences

Income producing-commercial real estate

880 61,657 880 167,574

Owner occupied - commercial real estate — 7,938 — 37,746

2 unchanged sentences

Home equity — 351 — 303

Other consumer — — — —

Total $ 16,165 $ 90,732 $ 2,094 $ 206,748

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

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

Credit Quality Indicators

13 unchanged sentences

Management believes that there is a moderate likelihood of some loss related to those loans that are considered special mention.

Classified (a) Substandard – Loans inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any.

Classified (a) Substandard:

Loans inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any.

Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt.

1 unchanged sentence

Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual loans classified substandard.

Classified (b) Doubtful – Loans that have all the weaknesses inherent in a loan classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

Classified (b) Doubtful:

Loans that have all the weaknesses inherent in a loan classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

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.

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

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, as of December 31, 2024 and 2023, 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.

The table below excludes $ 176.5 million of gross charge-offs associated with loans that were reclassified to HFS or sold during the year ended December 31, 2025.

As of December 31, 2025

(dollars in thousands) Prior 2021 2022 2023 2024 2025

2 unchanged sentences

to Term Total

December 31, 2024

Pass $ 92,082 $ 18,390 $ 35,098 $ 66,402 $ 83,098 $ 357,934 $ 593,711 $ 3,815 $ 1,250,530

12 unchanged sentences

Pass 667,233 209,803 89,580 132,719 126,792 356,437 636 — 1,583,200

Special Mention 23,658 — — — — — — — 23,658

Substandard 14,263 3,137 1,072 452 — — — — 18,924

3 unchanged sentences

Pass 13,331 6,411 10,941 5,838 — — — — 36,521

Substandard 579 — — — — — — — 579

Total 13,910 6,411 10,941 5,838 — — — — 37,100

YTD gross charge-offs —

Construction - commercial and residential:

1 unchanged sentence

Special Mention — — 25,082 — — — 27,469 — 52,551

— — 4,964 — — — — — 4,964

Substandard 35,517 11,618 15,320 — — — 1,440 — 63,895

12 unchanged sentences

Total YTD gross charge-offs $ ( 60,861 ) $ ( 731 ) $ ( 304 ) $ — $ ( 57 ) $ — $ ( 10,796 ) $ ( 32 ) $ ( 72,781 )

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

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

As of December 31, 2024

(dollars in thousands) Prior 2020 2021 2022 2023 2024

2 unchanged sentences

to Term Total

December 31, 2023

Pass $ 132,595 $ 26,775 $ 133,687 $ 110,439 $ 89,608 $ 104,927 $ 513,645 $ 4,394 $ 1,116,070

3 unchanged sentences

YTD gross charge-offs ( 4,350 ) — — — — — ( 506 ) ( 50 ) ( 4,906 )

Pass — — — 528 — — — — 528

Income producing - commercial real estate:

9 unchanged sentences

Total 742,550 58,859 219,162 40,316 138,860 69,623 299 — 1,269,669

YTD gross charge-offs ( 3,800 ) — — — — — — — ( 3,800 )

Real estate mortgage - residential:

Pass 20,080 2,435 9,972 12,181 5,867 — — — 50,535

Substandard 4,170 — — — — — — — 4,170

Total 20,080 2,435 9,972 12,181 5,867 — — — 50,535

1 unchanged sentence

Pass 26,739 38,385 199,933 595,496 202,577 7,588 124,508 — 1,195,226

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

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

8 unchanged sentences

Pass 3 — — — — 49 1,006 — 1,058

Total 1 — — — 46 — 354 — 401

YTD gross charge-offs ( 70 ) — — — — — ( 17 ) ( 1 ) ( 88 )

1 unchanged sentence

Total YTD gross charge-offs $ ( 38,247 ) $ ( 386 ) $ — $ — $ — $ — $ ( 523 ) $ ( 51 ) $ ( 39,207 )

The Company individually evaluates nonaccrual loans when performing its CECL estimate to calculate the ACL.

Additionally, the Company utilizes historical internal and third-party service provider sourced loss data in the determination of its PD/LGD rates applied in the calculation of its CECL estimate.

Upon determination that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off.

Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the ACL is adjusted by the same amount.

Eagle Bancorp, Inc 2025 Form 10-K

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

Nonaccrual and Past Due Loans

1 unchanged sentence

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.

Table o f Contents

The following table presents, by portfolio segment, information related to the amortized cost basis of nonaccrual HFI loans as of December 31, 2024 and 2023.

December 31, 2024

December 31, 2023

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

December 31, 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

7 unchanged sentences

$ 47,857 $ 59,040 $ 106,897 $ 49,608 $ 159,098 $ 208,706

(1) Gross coupon interest income of $ 8.8 million, $ 4.2 million and $ 558 thousand would have been recorded for years ended December 31, 2024, 2023 and 2022, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while interest actually recorded on such loans were $ 4.1 million, $ 1.5 million and $ 17 thousand for the years ended December 31, 2024, 2023 and 2022, 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 December 31, 2024 and 2023:

(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

December 31, 2024

(1) Gross coupon interest income of $ 21.0 million, and $ 8.8 million would have been recorded for the years ended December 31, 2025 and 2024 respectively, if nonaccrual loans shown above had been current and in accordance with their original terms.

Interest income recognized on loans on nonaccrual status was $ 15.6 million and $ 4.1 million for the years ended December 31, 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 2025 Form 10-K

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.

As of December 31, 2025

(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

Commercial $ 2,942 $ 44 $ — $ 2,986 $ 1,317,401 $ 18,099 $ 1,338,486

PPP loans — — — — 287 — 287

Income producing - commercial real estate 2,688 — — 2,688 3,285,493 62,537 3,350,718

6 unchanged sentences

Total $ 37,283 $ 12,656 $ — $ 49,939 $ 7,123,623 $ 106,897 $ 7,280,459

December 31, 2023

As of December 31, 2024

(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

Commercial $ 5,121 $ 3,759 $ — $ 8,880 $ 1,172,700 $ 2,048 $ 1,183,628

PPP loans — — — — 528 — 528

Income producing - commercial real estate 13,804 — — 13,804 3,882,588 168,454 4,064,846

6 unchanged sentences

Total $ 21,973 $ 4,790 $ — $ 26,763 $ 7,699,419 $ 208,706 $ 7,934,888

Table o f Contents

Loan Modifications for Borrowers Experiencing Financial Difficulty

7 unchanged sentences

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

Eagle Bancorp, Inc 2025 Form 10-K

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.

Table o f Contents

The following table presents the amortized cost basis as of December 31, 2024 and 2023, and the financial effect of HFI loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023:

(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)

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

(dollars in thousands) Payment Delay 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)

1 unchanged sentence

Commercial $ 10,340 $ 22,742 $ 9,816 $ — $ — $ 42,898 3.2 % 14 months — %

Income producing - commercial real estate

25,290 288,111 — 3,514 316,915 7.8 % 8 months 3.59 %

Income producing - commercial real estate — 69,571 134,143 — — 203,714 6.1 % 19 months — %

Owner occupied - commercial real estate — 12,573 — — — 12,573 0.8 % 4 months — %

3 unchanged sentences

Commercial $ — $ 27,249 $ 28,576 $ 7,728 $ — $ 63,553 5.3 % 13 months 1.63 %

Income producing - commercial real estate

7,191 62,356 — 106,256 175,803 4.3 % 16 months 2.56 %

Income producing - commercial real estate — 25,290 288,111 — 3,514 316,915 7.8 % 8 months 3.59 %

Owner occupied - commercial real estate — 870 — — — 870 0.1 % 12 months — %

3 unchanged sentences

(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 years ended December 31, 2024 and 2023:

December 31, 2024

Eagle Bancorp, Inc 2025 Form 10-K

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

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

Payment Status (Amortized Cost Basis)

(dollars in thousands) Current 30-89 Days Past Due 90 Days or More Past Due Nonaccrual

December 31, 2025

Commercial $ 38,811 $ — $ — $ 4,085

3 unchanged sentences

Total $ 232,045 $ 14,013 $ — $ 31,579

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December 31, 2024

Payment Status (Amortized Cost Basis)

(dollars in thousands) Current 30-89 Days Past Due 90 Days or More Past Due Nonaccrual

Commercial $ 58,169 $ 5,384 $ — $ —

5 unchanged sentences

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 at December 31, 2024 and 2023 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty:

December 31, 2024

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.

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

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

December 31, 2025

Commercial $ 4,085 $ —

4 unchanged sentences

December 31, 2024

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 $ 5,384 $ —

Income producing - commercial real estate — 131,730

Owner occupied - commercial real estate — 19,127 —

Total $ 5,384 $ 131,730

3 unchanged sentences

Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the ACL is adjusted by the same amount.

Eagle Bancorp, Inc 2025 Form 10-K

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

Related Party Loans

1 unchanged sentence

All of such loans are either fully repaid or performing and none of such loans are nonaccrual, past due, restructured, or rated substandard or worse (not on nonaccrual).

Amounts in “additions due to changes in related party status” or "removals due to changes in related party status" reflect loans that transitioned to being related party loans or out of being related party loans during the years presented as a

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result of changes in related party status with respect to certain of the Company’s directors who are affiliated with the related borrowers.

The following table summarizes the activity of loans outstanding to borrowers with relationships to related parties in 2024 and 2023:

The table below summarizes the activity of loans outstanding to borrowers with relationships to related parties.

(dollars in thousands) 2025

2 unchanged sentences

Repayments ( 111 ) ( 534 )

Removals due to changes in related party status — ( 74,000 )

Balance at December 31, $ 302 $ 836

Balance as of December 31, $ 191 $ 302

Note 5 – Premises and Equipment

Premises and equipment include the following at December 31:

The table below presents the Company's premises and equipment.

As of December 31,

(dollars in thousands) 2025 2024

8 unchanged sentences

Substantially all of the leases in which the Company is the lessee comprise real estate for branch offices, ATM locations and corporate office space.

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 sheets.

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.

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 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 December 31, 2024 and December 31, 2023, the Company had $ 18.5 million and $ 19.1 million of operating lease ROU assets respectively, and $ 23.8 million and $ 23.2 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 Sheets.

As of December 31, 2025 and December 31, 2024, the Company had $ 28.5 million and $ 18.5 million of operating lease ROU assets respectively, and $ 35.3 million and $ 23.8 million of operating lease liabilities respectively, on the Company’s Consolidated Balance Sheet.

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.

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

As of December 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 year ended December 31, 2024, the Company entered into a new lease agreement for its headquarters in Bethesda, MD, which is further discussed below.

The Company also extended two existing leases, one each in Maryland and District of Columbia, and one additional lease expired during the same period.

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The following table presents lease costs and other lease information.

Years Ended December 31,

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 6 – Leases

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

The lease expires on July 31, 2037.

The tables below present lease costs and other lease information.

For the Year Ended December 31,

(dollars in thousands) 2025 2024

4 unchanged sentences

Operating lease - operating cash flows (fixed payments) $ 5,789 $ 6,524

(dollars in thousands) December 31, 2024 December 31, 2023

As of December 31,

(dollars in thousands) 2025 2024

Right-of-use assets - operating leases $ 28,451 $ 18,494

Operating lease liabilities $ 35,256 $ 23,815

Weighted average lease term - operating leases 6.78 yrs 4.93 yrs

Weighted average lease term - operating leases (in years) 9.12 6.78

Weighted average discount rate - operating leases 3.60 % 3.03 %

Future minimum payments for operating leases with initial or remaining terms of one year or more as of December 31, 2024 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 December 31, 2025

Twelve months ended:

8 unchanged sentences

Present value of net future minimum lease payments $ 35,256

Recognizing the connection between high-quality and high-performing workplaces coupled with a desire to maintain a strong presence in the community we serve, EagleBank has entered into a long-term lease agreement to relocate its corporate headquarters to 7500 Old Georgetown Road in downtown Bethesda, MD in 2025.

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

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Note 7 – Goodwill and Intangible Assets

Intangible assets are included in the Consolidated Balance Sheets as a separate line item, net of accumulated amortization and consist of the following items:

(dollars in thousands) Net

Additions Accumulated

Amortization Impairment

December 31, 2024:

Goodwill $ 104,168 $ — $ — $ ( 104,168 ) $ —

Excess servicing (1)

37 — ( 21 ) — 16

Non-compete agreements 720 — ( 720 ) — —

Total $ 104,925 $ — $ ( 741 ) $ ( 104,168 ) $ 16

December 31, 2023:

Goodwill $ 104,168 $ — $ — $ — $ 104,168

Excess servicing (1)

65 — ( 28 ) — 37

Non-compete agreements — 1,234 ( 514 ) — 720

Total $ 104,233 $ 1,234 $ ( 542 ) $ — $ 104,925

(1) The Company recognizes a servicing asset for the computed value of servicing fees on the sale of multifamily FHA loans and the sale of the guaranteed portion of SBA loans.

Assumptions related to loan terms and amortization are made to arrive at the initial recorded values, which are included in other assets.

The Company has suspended its origination and selling activities in multifamily FHA loans, and therefore, as of December 31, 2024, the Company had no unamortized excess servicing assets for multifamily FHA loans.

The aggregate amortization expense was $ 741 thousand, $ 542 thousand and $ 89 thousand for the years ended December 31, 2024, 2023 and 2022, respectively.

During the second quarter ended June 30, 2024, Management determined that a triggering event had occurred as a result of the share price trading under book value for more than four quarters due to changes in macroeconomic conditions and market volatility in the financial markets and the banking industry due to the impact from rising interest rates.

As a result of the triggering event, the Company engaged a third-party service provider to assist Management with the determination of the fair value of the Company in the second quarter of 2024.

The resulting calculations indicated that the fair value did not exceed the carrying amount of the Company's only reporting unit as of May 31, 2024 which resulted in a determination that goodwill had become fully impaired.

The goodwill impairment charge of $ 104.2 million reduced fully the carrying value of the Company's goodwill as of May 31, 2024.

The impaired goodwill is primarily related to the acquisition of the Virginia Heritage Bank in October 2014.

The impairment charge did not impact our cash flows, liquidity ratios, core operating performance, or regulatory capital ratios.

Note 7 – Other Real Estate Owned

The activity within OREO for the years ended December 31, 2024 and 2023 is presented in the table below.

The table below presents activity within OREO for the years ended December 31, 2025 and 2024.

There were no properties in the process of foreclosure as of December 31, 2025 and 2024.

For the years ended December 31, 2024 and 2023, there were two sales of OREO during each year.

Years Ended December 31,

For the years ended December 31, 2025 and 2024, there were six and two sales, respectively, of OREO during the year.

For the Year Ended December 31,

(dollars in thousands) 2025 2024

3 unchanged sentences

Ending Balance $ 2,059 $ 2,743

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Note 8 – Derivatives and Hedging Activities

2 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.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 8 – Derivatives and Hedging Activities

Fair Value Hedges of Interest Rate Risk

During 2025, the Company utilized pay-fixed, receive-floating interest rate swaps, accounted for as fair value hedges, to protect itself against adverse fluctuations in the fair value of AFS securities attributable to changes in the designated benchmark interest rate.

Adjustments were made to record the hedging instrument at fair value on the balance sheet, with changes in fair value recognized in interest income.

Changes in fair value of the AFS securities attributable to changes in the hedged risk were reclassified out of other comprehensive income (loss) through interest income each period to offset changes in fair value of the hedging instrument.

As of December 31, 2025, the Company voluntarily discontinued this fair value hedging relationship.

The Company will amortize the basis adjustment over a period consistent with amortization of other discounts or premiums on the asset.

During the quarter ended September 30, 2025, the Company began utilizing receive-fixed, pay-floating interest rate swaps, accounted for as fair value hedges, to protect itself against adverse fluctuations in the fair value of interest-bearing deposits attributable to changes in the benchmark interest rate.

Adjustments will be made to record the hedging instrument at fair value on the balance sheet, with changes in fair value recognized in interest expense.

The carrying value of the interest-bearing deposits will also be adjusted through interest expense, based on changes in fair value attributable to changes in the benchmark interest rate.

Cash Flow Hedges of Interest Rate Risk

The Company historically utilized interest rate swaptions, accounted for as cash flow hedges, to protect itself against adverse fluctuations in interest rates on a forecasted issuance of debt.

During the year ended December 31, 2024, the Company terminated its interest rate swaption contracts and discontinued the associated hedging relationship.

The amount in accumulated other comprehensive income (loss) related to the swaption contracts is being amortized over the remainder of the hedged transaction.

The Company expects to reclassify the remaining $ 24 thousand out of accumulated other comprehensive loss over the next year as a reduction of interest expense.

Interest Rate Products

The Company utilizes interest rate swaps, accounted for as cash flow hedges, to protect itself against adverse fluctuations in interest payments on variable rate loans.

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

The Company designates the receive-fixed, pay-floating interest rate swap as a cash flow hedge of the risk of changes in the cash flows on the hedged transactions.

These swaps will be recorded on the balance sheet at fair value and, assuming the hedging relationship qualifies as highly effective, the gain or loss on the Hedging Instrument will be recorded in accumulated other comprehensive income and reclassified into interest income in the same period(s) during which the hedged transactions affect earnings.

Any interest accruals will flow through earnings as adjustments to interest income.

Interest Rate Swaps Related to Customer Loans

Interest rate derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers.

9 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.

At December 31, 2024, the Company had posted $ 17.4 million of cash collateral with other financial institutions and held $ 30.5 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 December 31, 2025, the Company had posted $ 2.3 million of cash collateral with other financial institutions and held $ 10.2 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

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 8 – Derivatives and Hedging Activities

(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.

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The table below identifies the balance sheet category and fair value of the Company’s derivative instruments as of December 31, 2024 and 2023.

The table below presents the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges.

As of December 31,

(dollars in thousands)

2025 2024 2025 2024

Line Item in the Balance Sheet in Which the Hedged Item is Included

Carrying Amount of the Hedged Assets (Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Assets (Liabilities)

$ ( 389,295 ) $ — $ 705 $ —

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 at December 31, 2024, it could have been required to settle its obligations under the agreement at the termination value.

December 31, 2024 December 31, 2023

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

As of December 31.

(dollars in thousands) Notional

4 unchanged sentences

Derivatives designated as hedging instruments:

Interest rate product $ — $ — Other Assets $ 300,000 $ 374 Other Assets

Derivatives not designated as hedging instruments:

Interest rate product 697,086 31,592 Other Assets 651,429 30,288 Other Assets

Credit risk participation agreements 49,480 — Other Liabilities 49,480 3 Other Assets

Cash flow hedges

$ 390,000 $ 60 Other Assets $ — $ — Other Assets

Fair value hedges

— — Other Assets — — Other Assets

Total hedging instruments

390,000 60 — —

Derivatives not designated as hedging instruments:

Interest rate swaps related to customer loans

808,009 24,272 Other Assets 697,086 31,592 Other Assets

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

Total derivatives in an asset position $ 1,198,009 $ 24,332 $ 746,566 $ 31,592

Derivatives in a liability position:

Derivatives designated as hedging instruments:

Cash flow hedges $ — $ — Other Liabilities $ — $ — Other Liabilities

Fair value hedges 300,000 927 Other Liabilities

— — Other Liabilities

Total hedging instruments 300,000 927 — —

Derivatives not designated as hedging instruments:

Interest rate product $ 697,086 $ 29,110 Other Liabilities $ 654,757 $ 30,555 Other Liabilities

Interest rate swaps related to customer loans

808,009 23,015 Other Liabilities 697,086 29,110 Other Liabilities

Total derivatives in a liability position $ 1,108,009 $ 23,942 $ 697,086 $ 29,110

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 8 – Derivatives and Hedging Activities

The table below presents the pre-tax net gains (losses) of the Company’s designated cash flow hedges for the years ended December 31, 2025, 2024 and 2023.

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

Amount of Gain (Loss) Recognized in OCI Location of Gain (Loss) Recognized from Accumulated Other Comprehensive Income (Loss) into Income (Loss)

Amount of Gain (Loss) Reclassified from Accumulated OCI into Income

Amount of Gain (Loss) Recognized in OCI Location of Gain (Loss) Recognized from Accumulated Other Comprehensive Income (Loss) into Income (Loss) Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Year Ended Amount of Gain (Loss) Reclassified from Accumulated OCI into Income

(dollars in thousands) Total Included Component Excluded Component Total Included Component Excluded Component

1 unchanged sentence

Derivatives in cash flow hedging relationships:

Interest rate products $ — $ — $ — Interest expense $ 32 $ 32 $ —

Interest rate products $ 111 $ 111 $ — Interest income

$ ( 51 ) $ ( 51 ) $ —

Year ended December 31, 2024

4 unchanged sentences

Interest rate products $ ( 256 ) $ — $ ( 256 ) Interest expense $ ( 14 ) $ — $ ( 14 )

Table o f Contents

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022.

The Effect of Cash Flow Hedge Accounting on the Consolidated Statements of Operations

Year Ended Years Ended

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

The Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Operations

Year Ended December 31,

2025 2024 2023

(dollars in thousands) Interest Expense Interest Expense Interest Expense

Total amounts of expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded $ 32 $ ( 14 ) $ —

The effect of cash flow hedging:

Gain (loss) on cash flow hedging relationships:

(dollars in thousands) Interest Income (Expense)

Total amounts of expense line items presented in the Consolidated Statements of Operations in which the effects of fair value and cash flow hedges are recorded

$ ( 1,053 ) $ 32 $ ( 14 )

The effect of fair value and cash flow hedging:

Gain (loss) on fair value hedging relationships in Subtopic 815-20:

Interest rate products:

$ ( 1,002 ) $ — $ —

Derivatives designated as hedging instruments 927 — —

Gain (loss) on cash flow hedging relationships in Subtopic 815-20:

Interest rate products:

Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) $ ( 51 ) $ 32 $ ( 14 )

Amount of gain (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring — — —

Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) - included component ( 51 ) 32 —

Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) - excluded component — — ( 14 )

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

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 8 – Derivatives and Hedging Activities

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

(dollars in thousands) Location of Gain or (Loss) Recognized in

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

Year Ended Years Ended

For the Year Ended December 31,

2025 2024 2023

1 unchanged sentence

Interest rate products Other income / (expense) $ 1,841 $ 1,940 $ 2,712

Mortgage banking derivatives Other income — — 671

Total $ 1,940 $ 2,712 $ 3,728

Balance Sheet Offsetting :

4 unchanged sentences

Note 9 – Deposits

The following table provides information regarding the Bank’s deposit composition at December 31, 2024 and 2023 as well as the average rate being paid on interest bearing deposits for the month of December 2024 and 2023.

The table below presents the Bank’s deposit composition.

As of December 31,

(dollars in thousands) 2025 2024

4 unchanged sentences

Total $ 9,133,606 $ 9,131,078

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The remaining maturity of time deposits at December 31, 2024 and 2023 were as follows:

The tables below represent the remaining maturity of time deposits.

As of December 31,

(dollars in thousands) 2025 2024

4 unchanged sentences

2029 75,687 32,383

2029 32,383 —

Thereafter 126,065 —

Total $ 3,036,687 $ 2,775,663

As of December 31,

(dollars in thousands) 2025 2024

1 unchanged sentence

More than three months through six months 834,994 578,371

578,371 544,230

More than six months through twelve months 736,351 1,294,306

1 unchanged sentence

Total $ 3,036,687 $ 2,775,663

Interest expense on deposits for the years ended December 31, 2024, 2023 and 2022 was as follows:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 9 – Deposits

The table below presents the interest expense on deposits.

For the Year Ended

(dollars in thousands) 2025 2024 2023

3 unchanged sentences

Total $ 314,655 $ 320,421 $ 257,544

Related Party deposits totaled $ 28.6 million and $ 33.1 million at December 31, 2024 and 2023, respectively.

As of December 31, 2024 and 2023, time deposit accounts in excess of $250 thousand were as follows:

Related Party deposits totaled $ 18.3 million and $ 28.6 million as of December 31, 2025 and 2024, respectively.

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

As of December 31,

(dollars in thousands) 2025 2024

4 unchanged sentences

Total $ 1,470,657 $ 1,709,217

At December 31, 2024, total brokered deposits were $ 4.0 billion, or 44 % of total deposits, of which $ 1.4 billion were attributable to the Certificates of Deposit Account Registry Service ("CDARS") and Insured Cash Sweep ("ICS") two-way accounts.

At December 31, 2023, total brokered deposits (which did not include the CDARS and ICS two-way) were $ 2.5 billion, or 29 % of total deposits.

As of December 31, 2025, total brokered deposits were $ 3.3 billion, or 36 % of total deposits, compared to $ 4.0 billion, or 44 %, as of December 31, 2024.

Note 10 – Affordable Housing Projects Tax Credit Partnerships

1 unchanged sentence

The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing products offerings and to assist in achieving goals associated with the Community Reinvestment Act.

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activities of the limited partnerships include the identification, development and operation of multi-family housing that is leased to qualifying residential tenants.

The primary activities of the limited partnerships include the identification, development and operation of multi-family housing that is leased to qualifying residential tenants.

Generally, these types of investments are funded through a combination of debt and equity.

5 unchanged sentences

Except for limited rights granted to the limited partner(s) relating to the approval of certain transactions, the limited partner(s) may not participate in the operation, management or control of the limited partnership’s business, transact any business in the limited partnership’s name or have any power to sign documents for or otherwise bind the limited partnership.

In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement or is negligent in performing its duties.

The general partner of each limited partnership has both the power to direct the activities which most significantly affect the performance of each partnership and the obligation to absorb losses or the right to receive benefits that could be significant to the entities.

4 unchanged sentences

The Company recognizes low income housing investment expenses as a component of income tax expense .

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 10 – Affordable Housing Projects Tax Credit Partnerships

As of December 31, 2025, the expected payments for unfunded affordable housing commitments were as follows.

4 unchanged sentences

Total unfunded commitments $ 13,120

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Note 11 – Borrowings

The following table summarizes the Company’s borrowings, which include repurchase agreements with the Company’s customers and borrowings at December 31, 2024 and 2023:

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)

December 31, 2024:

As of December 31, 2025

Customer repurchase agreements $ — $ — $ — $ — N/A — %

1 unchanged sentence

Secured borrowings:

FHLB 490,000 — 490,000 874,270 Various (3)

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

Subordinated notes — — — — N/A N/A

FHLB — — — 1,349,351 N/A — %

Discount window — — — 1,373,872 N/A — %

Total — — — 2,723,223

Long-term borrowings:

77,665 ( 1,557 ) 76,108 — September 30, 2029 10.00 %

Senior notes 77,665 ( 1,237 ) 76,428 — September 30, 2029 10.00 %

Total borrowings $ 77,665 $ ( 1,237 ) $ 76,428 $ 2,723,223

December 31, 2023:

As of December 31, 2024

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

1 unchanged sentence

Secured borrowings:

FHLB — — — 1,271,846 N/A N/A

BTFP 1,300,000 — 1,300,000 598,870 March 22, 2024 4.53 %

FHLB 490,000 — 490,000 874,270 Various (3)

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

Raymond James repurchase agreement — — — 17,993 N/A N/A

Subordinated notes 70,000 ( 82 ) 69,918 — September 1, 2024 5.75 %

Total 490,000 — 490,000 2,674,916

Long-term borrowings:

— — — — N/A N/A

Senior notes 77,665 ( 1,557 ) 76,108 — September 30, 2029 10.00 %

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.

At December 31, 2024, the Company had total additional undrawn borrowing capacity of approximately $ 4.0 billion, comprising unencumbered securities available to be pledged of approximately $ 1.3 billion and undrawn financing on pledged assets of $ 2.7 billion.

(2) As part of the Company's agreement governing its participation in the BTFP program and the Raymond James repurchase agreement, the borrowing capacity is determined based on the principal balance of the pledged assets.

(3) FHLB borrowing of $ 250.0 million matures January 31, 2025 while the remaining $ 240.0 million matures April 1, 2025.

(4) 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.

The Company offers its business customers a repurchase agreement sweep account in which it collateralizes these funds with U.S.

agency and MBS segregated in its investment portfolio for this purpose.

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

By entering into the agreement, the customer agrees to have the Bank repurchase the designated securities on the business day following the initial transaction in consideration of the payment of interest at the rate prevailing on the day of the transaction.

(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 December 31, 2025, the Company had total additional undrawn borrowing capacity of approximately $ 3.0 billion, comprising unencumbered securities available to be pledged of approximately $ 315.7 million and undrawn financing on pledged assets of $ 2.7 billion.

(2) Represents 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.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 11 – Borrowings

(3) The contractual maturity dates on FHLB secured borrowings represent the maturity dates of current advances and are not evidence of a termination date on the line.

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The Bank can purchase up to $ 145 million in federal funds on an unsecured basis from its correspondents, against which there were no amounts outstanding at December 31, 2024 and can place brokered funds under one-way CDARS and ICS deposits in the amount of $ 1.1 billion, against which there was $ 73.4 million outstanding at December 31, 2024.

The Bank also had $ 894.7 million of brokered deposits placed with the Insured Network Deposits ("IND") program from IntraFi Network, LLC ("IntraFi") at December 31, 2024.

At December 31, 2024, the Bank was also eligible to take advances from the FHLB up to $ 1.4 billion based on collateral at the FHLB, of which there was $ 490.0 million outstanding at December 31, 2024.

The Bank can purchase up to $ 145 million in federal funds on an unsecured basis from its correspondents, against which there were no amounts outstanding as of December 31, 2025 and can place brokered funds under one-way CDARS and ICS deposits in the amount of $ 1.1 billion, against which there was $ 37.5 million outstanding as of December 31, 2025.

The Bank also had $ 386.0 million of brokered deposits placed with the Insured Network Deposits ("IND") program from IntraFi Network, LLC ("IntraFi") as of December 31, 2025.

As of December 31, 2025, the Bank was also eligible to take advances from the FHLB up to $ 1.3 billion based on collateral at the FHLB, of which there were none outstanding as of December 31, 2025.

The Bank may enter into repurchase agreements as well as obtain additional borrowing capabilities from the FHLB provided adequate collateral exists to secure these lending relationships.

4 unchanged sentences

There are no prepayment penalties nor unused commitment fees on any of the Company’s borrowing arrangements.

Bank Term Funding Program (“BTFP”)

On March 12, 2023, the FRB, Department of Treasury and the Federal Deposit Insurance Corporation ("FDIC") issued a joint statement outlining actions they had taken to protect the U.S.

economy by strengthening public confidence in the banking system as a result of and in response to recently announced bank closures.

Among other actions, the Federal Reserve Board announced that it would make available additional funding to eligible depository institutions through the creation of a new BTFP.

The BTFP provides eligible depository institutions, including the Company's subsidiary bank, EagleBank, an additional source of liquidity.

Borrowings are funded based on a percentage of the principal of eligible collateral posted, as defined within the terms of the program.

Interest is payable at a fixed rate over the term of the borrowing and there are no prepayment penalties.

The Federal Reserve announced in January 2024 that the BTFP would stop originating new loans on March 11, 2024, as scheduled.

The Federal Reserve also modified the terms of the program so that the interest rate for new loans will be no lower than the interest rate on reserve balances in effect on the day the loan is made.

In January 2024, the Company borrowed an additional $ 500.0 million through the BTFP and refinanced $ 500.0 million under the program, both at an interest rate of 4.76 % and with maturity dates of January 2025.

The Company repaid $ 500.0 million in November 2024, and the remaining $ 500.0 million was repaid in December 2024.

The Company used to offer a sweep account, or "customer repurchase agreement," allowing qualifying businesses to earn interest on short-term excess funds, which were not suited for either a certificate of deposit or a money market account.

The Company discontinued this product offering in November 2025.

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").

At December 31, 2024, the carrying value of these 2029 Senior Notes was $ 76.1 million which reflected $ 1.6 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 December 31, 2025, the carrying value of these 2029 Senior Notes was $ 76.4 million which reflected $ 1.2 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.

Subordinated Notes

On August 5, 2014, the Company completed the sale of $ 70 million of its 5.75 % subordinated notes, which matured and were fully repaid in September 2024.

These subordinated notes were offered to the public at par, and qualified as Tier 2 capital for regulatory purposes to the fullest extent permitted under the Basel III Rule capital requirements, and were fully phased out of regulatory capital as of December 31, 2023 as they approached maturity.

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Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 12 – Income Taxes

Note 12 – Income Taxes

Federal and state income tax expense consists of the following for the years ended December 31:

The table below presents the federal and state income tax expense.

As of December 31,

(dollars in thousands) 2025 2024 2023

Current federal income tax expense $ 9,897 $ 25,291 $ 37,182

Current state income tax expense 4,297 5,072 5,008

Total current tax expense 14,194 30,363 42,190

Deferred federal income tax (benefit) expense 2,823 ( 2,966 ) 3,532

Deferred state income tax (benefit) expense ( 222 ) ( 411 ) 3,028

Total deferred tax (benefit) expense 2,601 ( 3,377 ) 6,560

Total income tax expense $ 16,795 $ 26,986 $ 48,750

The Company had net deferred tax assets (deferred tax assets in excess of deferred tax liabilities) of $ 91.5 million and $ 86.6 million for the years ended at December 31, 2024 and 2023, respectively, which related primarily to our unrealized losses on securities, allowance for credit losses, and loan origination fees.

Pre-tax Income (Loss) from continuing operations

$ ( 196,184 ) $ ( 30,240 ) $ 127,520

Total - Pre-tax income (loss) from continuing operations

( 196,184 ) ( 30,240 ) 127,520

Income tax expense (benefit)

Current taxes:

10,094 9,897 25,291

state and local

154 4,297 5,072

Foreign — — —

Subtotal - Current tax expense

10,248 14,194 30,363

Deferred taxes:

( 59,583 ) 2,823 ( 2,966 )

state and local

( 8,797 ) ( 222 ) ( 411 )

Foreign — — —

Subtotal - Deferred taxes

( 68,380 ) 2,601 ( 3,377 )

Total income tax expense (benefit) from continuing operations

$ ( 58,132 ) $ 16,795 $ 26,986

The Company had net deferred tax assets (deferred tax assets in excess of deferred tax liabilities) of $ 132.3 million and $ 91.5 million for the years ended as of December 31, 2025 and 2024, respectively, which related primarily to the net loss generated in 2025, unrealized losses on securities, allowance for credit losses, and unused LIHTC carried forward.

Management believes it is more likely than not that all of the deferred tax assets will be realized with the exception of certain state net operating losses.

Temporary timing differences between the amounts reported in the Consolidated Financial Statements and the tax bases of assets and liabilities result in deferred taxes.

The table below summarizes significant components of our deferred tax assets and liabilities as of December 31, 2024 and 2023:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 12 – Income Taxes

The table below summarizes significant components of our deferred tax assets and liabilities.

As of December 31,

(dollars in thousands) 2025 2024

4 unchanged sentences

Unrealized loss on securities held-to-maturity 8,696 10,160

LIHTC and ITC Tax Credits 5,793 —

Leases 5,774 5,713

LIHTC and Investment Tax Credits ("ITC") 9,787 5,793

Lease liabilities 8,575 5,774

Supplemental executive retirement and death benefit agreements 3,167 2,075

1 unchanged sentence

Premises and equipment — 217

Unrealized loss on interest rate swap derivatives — 59

Net operating loss 51,740 8,104

Other assets 3,537 3,549

Gross deferred tax assets

104,662 99,523

Deferred tax assets before valuation allowances 149,596 104,662

Valuation allowances

( 8,357 ) ( 7,715 )

Total deferred tax assets 141,239 96,947

Deferred tax liabilities:

Leases ( 4,483 ) ( 4,703 )

Right-of-use Assets ( 6,920 ) ( 4,483 )

Interest Rate Swaps & Derivatives ( 324 ) ( 602 )

Excess servicing — ( 561 )

Investment in Partnership ( 444 ) ( 384 )

Premises and equipment ( 1,194 ) —

2 unchanged sentences

Net deferred income tax assets $ 132,330 $ 91,472

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As of December 31, 2024.

the Company has $ 2.2 million of federal net operating loss carryforward in conjunction with the Fidelity & Trust Financial Corporation acquisition, that is subject to annual limits under Section 382 of the Internal Revenue Code and expires in 2027.

As of December 31, 2025, the Company has $ 180.9 million of federal net operating loss and $ 211.0 million of state net operating loss carryforward.

The Company has concluded, based on the weight of available positive and negative evidence, a portion of its state net operating loss deferred tax asset is not more-likely-than-not to be realized and accordingly, a valuation allowance of $ 8.4 million and $ 7.7 million is carried as of December 31, 2025 and 2024, respectively.

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate for the years ended December 31, 2024, 2023 and 2022 follows:

Year Ended December 31,

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 12 – Income Taxes

The table below presents a reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate.

For the Year Ended December 31,

2025 2024 2023

Statutory federal income tax rate 21.00 % 21.00 % 21.00 %

Increase (decrease) due to:

State income taxes ( 10.53 ) % 2.75 % 3.28 %

Goodwill Impairment ( 72.34 ) % — % — %

Tax credits, net of amortization (1)

(dollars in thousands) Amount Percent Amount Percent Amount Percent

federal statutory income tax rate $ ( 41,199 ) 21.00 % $ ( 6,350 ) 21.00 % $ 26,779 21.00 %

State and Local Income Taxes, Net of Federal Income Tax Effect (1)

( 6,828 ) 3.48 % 3,194 ( 10.57 ) % 3,596 2.82 %

Tax-exempt interest and dividend income 4.39 % ( 1.75 ) % ( 0.85 ) %

Bank owned life insurance 2.00 % ( 0.58 ) % ( 0.33 ) %

Effect of Changes in Tax Laws or Rates Enacted in the Current Period — — % — — % — — %

Purchased transferable tax credits ( 3,195 ) 1.63 % ( 1,700 ) 5.62 % — — %

Investment tax credits (2)

( 1,203 ) 0.61 % — — % — — %

Low income housing tax credits (3)

( 2,124 ) 1.08 % ( 1,003 ) 3.32 % ( 569 ) ( 0.45 ) %

Bond credits (4)

( 532 ) 0.27 % ( 532 ) 1.76 % ( 532 ) ( 0.42 ) %

Changes in Valuation Allowances — — % — — % — — %

Nontaxable or Nondeductible Items:

Goodwill Impairment — — % 21,875 ( 72.34 ) % — — %

Bank owned life insurance income ( 4,245 ) 2.16 % ( 606 ) 2.00 % ( 736 ) ( 0.58 ) %

Tax-exempt interest, net of expense disallowance ( 2,072 ) 1.06 % ( 492 ) 1.63 % ( 2,229 ) ( 1.75 ) %

Stock-based compensation expense (5)

Change in unrecognized tax benefits ( 3.63 ) % — % — %

Return to provision and prior period adjustments

512 ( 0.26 ) % 1,034 ( 3.42 ) % 219 0.17 %

Non-deductible fines and penalties 2,100 ( 1.07 ) % — — % — — %

Other ( 0.90 ) % 1.08 % ( 0.39 ) %

All other nontaxable or nondeductible items 241 ( 0.12 ) % 398 ( 1.31 ) % 458 0.37 %

Changes in Unrecognized Tax Benefits 436 ( 0.22 ) % 1,097 ( 3.63 ) % — — %

Other Adjustments:

( 23 ) 0.01 % ( 120 ) 0.40 % — — %

Effective tax rate $ ( 58,132 ) 29.63 % $ 16,795 ( 55.54 ) % $ 26,986 21.16 %

(1) Includes low income housing tax credit proportional amortization expense, net of tax of $ 5.7 million, $ 5.4 million and $ 5.3 million, in 2024, 2023 and 2022 respectively.

Unrecognized tax benefits ("UTBs") for the years ended December 31, 2024, 2023, and 2022, were $ 6.6 million, $ 0 and $ 0 , respectively.

The following table details the change in unrecognized tax benefits ("UTBs") for 2024:

(1) State taxes in Maryland made up the majority (greater than 50 percent) of the tax effect in this category.

(2) EagleBank's investment in solar tax equity qualifies for proportional amortization accounting method ("PAM").

Includes tax expense related to proportional amortization of $ 9.4 million, $ 0 , and $ 0 and tax benefit related to flow-through losses of $ 0.1 million, $ 0 , and $ 0 in 2025, 2024 and 2023, respectively.

(3) Includes tax expense related to proportional amortization of $ 5.3 million, $ 5.7 million, and $ 5.4 million and tax benefit related to flow-through losses of $ 1.7 million, $ 1.1 million, and $ 1.0 million in 2025, 2024 and 2023, respectively.

(4) The amount is net of the federal income tax add-back related to the bond credits.

(5) The amount includes the federal income tax effect of the windfall/shortfall adjustments related to the vesting of stock awards.

Unrecognized tax benefits ("UTBs") for the years ended December 31, 2025, 2024, and 2023, were $ 7.0 million, $ 6.6 million and $ 0 , respectively.

The table below details the UTBs for the periods shown below.

For the Year Ended December 31,

(dollars in thousands) 2025

6 unchanged sentences

Balance at end of year $ 6,984 $ 6,550

Included in the balance of UTBs as of December 31, 2024, 2023, and 2022, are $ 4.1 million, $ 0 , and $ 0 , respectively, of tax benefits that, if recognized, would affect the ETR.

Included in the balance of UTBs as of December 31, 2025, 2024, and 2023, are $ 5.6 million, $ 4.1 million, and $ 0 , respectively, of tax benefits that, if recognized, would affect the ETR.

Also, included in the balance of UTBs are some items the recognition of which would not affect the effective tax rate, such as the tax effect of certain temporary differences, the portion of gross state UTBs that would be offset by the tax benefit of the associated federal deduction.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 12 – Income Taxes

We recognize interest accrued related to UTBs and penalties in other noninterest expense.

We accrued no penalties and interest of $ 0.2 million during 2024 and in total, as of December 31, 2024.

It is reasonably possible that a decrease of up to $ 5.2 million in UTBs related to state exposures may be necessary within the next 12 months, since resolved items will be removed from the balance whether their resolution results in refund or recognition.

We accrued no penalties and interest of $ 206 thousand during the year ended December 31, 2025.

The Company’s federal income tax returns are open and subject to examination from the 2022 tax return year and forward.

1 unchanged sentence

There are currently no examinations in process as of December 31, 2025.

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In July 2025, the One Big Beautiful Bill Act was signed into law, which included a broad range of tax reform provisions affecting businesses, including extending and modifying certain key provisions from the Tax Cuts and Jobs Act of 2017 and expanding certain incentives from the Inflation Reduction Act of 2022 while accelerating the phase-out of others.

The tax provisions of the One Big Beautiful Bill Act did not have a material impact on our overall tax position.

Note 13 – Net Income (Loss) per Common Share

The calculation of net income (loss) per common share for the years ended December 31 was as follows:

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

For the Year Ended December 31,

(dollars and shares in thousands, except per share data) 2025 2024 2023

9 unchanged sentences

Anti-dilutive shares 282 75 3

(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.

5 unchanged sentences

The EagleBank Foundation, a 501(c)(3) non-profit, seeks to improve the well-being of our community by providing financial support to local charitable organizations that help foster and strengthen vibrant, healthy, cultural and sustainable communities.

The Company paid $ 180 thousand, $ 143 thousand and $ 113 thousand to the EagleBank Foundation for the years ended December 31, 2024, 2023 and 2022, respectively, which were recorded in other expenses on the Consolidated Statements of Operations.

See the table below for the amounts the Company paid to the EagleBank Foundation.

(dollars in thousands) 2025 2024 2023

Amount paid to the EagleBank Foundation (1)

$ 135 $ 180 $ 143

(1) Amounts paid are recorded in Other expenses in the Consolidated Statements of Operations.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 14 – Related Party Transactions

Certain directors and executive officers of the Company and the Bank and certain affiliated entities of such directors and executive officers have had loan transactions with the Company.

2 unchanged sentences

Note 15 – Stock-Based Compensation

The Company maintains the 2021 Stock Plan ("2021 Plan"), the 2016 Stock Plan (“2016 Plan”), the 2006 Stock Plan (“2006 Plan”), the 2021 Employee Stock Purchase Plan ("2021 ESPP") and the 2011 Employee Stock Purchase Plan (“2011 ESPP”).

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The Company maintains the 2025 Stock Plan ("2025 Plan"), the 2021 Stock Plan ("2021 Plan"), the 2016 Stock Plan ("2016 Plan"), the 2006 Stock Plan ("2006 Plan"), the 2021 Employee Stock Purchase Plan ("2021 ESPP") and the 2011 Employee Stock Purchase Plan ("2011 ESPP").

In connection with the acquisition of Virginia Heritage Bank ("Virginia Heritage"), the Company assumed the Virginia Heritage 2006 Stock Option Plan and the 2010 Long Term Incentive Plan (the "Virginia Heritage Plans").

No additional options may be granted under the 2016 Plan, 2006 Plan or the Virginia Heritage Plans.

No additional shares may be granted under the 2021 Plan, 2016 Plan, 2006 Plan, 2011 ESPP or the Virginia Heritage Plans.

The Company adopted the 2025 Plan upon approval by the shareholders at the 2025 Annual Meeting held on May 15, 2025.

1 unchanged sentence

Under the 2025 Plan, 925,000 shares of common stock were initially reserved for issuance.

With shareholder approval of the 2025 Plan, no further awards shall be granted under the 2021 Plan.

The 2021 Plan will remain in existence solely for the purpose of administering outstanding grants under the 2021 Plan.

As of December 31, 2025, 476 shares of RSA have been granted under the 2025 Plan.

For awards that are service based, compensation expense is being recognized over the service (vesting) period based on fair value, which for stock option grants is computed using the Black-Scholes model.

For restricted stock awards granted under the 2021 Plan, fair value is based on the Company’s closing price on the date of grant.

For restricted stock awards granted under the 2021 Plan and 2025 Plan, fair value is based on the Company’s closing price on the date of grant.

For awards that are performance-based, compensation expense is initially recorded based on the probability of achievement of the goals underlying the grant at target.

3 unchanged sentences

1) total shareholder's return;

and 2) return on average assets.

and 2) EPS growth.

In February 2025, the 2022 performance award vested and no incremental shares were awarded.

For awards that are time vested, the shares typically vest over a period of one to three years beginning on the first anniversary of the date of grant.

In the year ended December 31, 2024, the Company awarded the following time vested restricted stock to senior officers, directors and certain employees:

December 31, 2024

Date of award Number of shares

Number of Officers, Directors and Employees

The table below presents the time vested restricted stock awarded to senior officers, directors and certain employees.

As of December 31, 2025

Date of award Number of shares Number of Officers, Directors and Employees

February 2025 204,164 129

August 2024 4,290 2

September 2024 8,756 2

October 2024 20,483 1

November 2024 2,254 1

December 2024 689 1

The Company has unvested restricted stock awards and PRSU grants of 656,784 shares at December 31, 2024.

Unrecognized stock based compensation expense related to restricted stock awards and PRSU grants totaled $ 8.8 million at December 31, 2024.

March 2025 4,507 2

May 2025 2,597 1

July 2025 476 1

The Company has unvested restricted stock awards and PRSU grants of 710,469 shares as of December 31, 2025.

Unrecognized stock based compensation expense related to restricted stock awards and PRSU grants totaled $ 6.1 million as of December 31, 2025.

At such date, the weighted-average period over which this unrecognized expense was expected to be recognized was 1.93 years.

The following table summarizes the unvested restricted stock awards for performance for the years ended December 31, 2024, 2023 and 2022:

Years Ended December 31,

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 15 – Stock-Based Compensation

The table below summarizes the unvested restricted stock awards for performance.

For the Year Ended December 31,

2025 2024 2023

Performance Awards Shares Weighted

Fair Value Shares Weighted-

Shares Weighted

Unvested at beginning 226,479 $ 27.53 123,215 $ 44.74 129,855 $ 45.15

150,570 18.47 71,003 40.50 37,775 53.97

Granted 147,702 18.19 150,570 18.47 71,003 40.50

Forfeited ( 33,035 ) 48.66 ( 28,826 ) 40.96 ( 44,084 ) 40.29

1 unchanged sentence

Unvested at end 341,146 $ 21.44 226,479 $ 27.53 123,215 $ 44.74

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The following table summarizes the unvested time vesting restricted stock awards for the years ended December 31, 2024, 2023 and 2022:

Years Ended December 31,

The following table summarizes the unvested time vesting restricted stock awards.

For the Year Ended December 31,

2025 2024 2023

Time Vested Awards Shares Weighted-

Fair Value Shares Weighted-

Time Vested Awards - RSA

Shares Weighted

Unvested at beginning 430,305 $ 31.35 313,992 $ 49.08 302,148 $ 53.75

312,368 23.22 190,256 44.16 166,471 59.72

Granted 211,744 23.20 312,368 23.22 190,256 44.16

Forfeited ( 25,086 ) 24.86 ( 38,772 ) 36.18 ( 27,558 ) 51.57

1 unchanged sentence

Unvested at end 369,323 $ 26.14 430,305 $ 31.35 313,992 $ 49.08

Below is a summary of stock option activity for the years ended December 31, 2024 , 2023 and 2022.

The table below is a summary of stock option activity.

The information excludes restricted stock units and awards.

Years Ended December 31,

For the Year Ended December 31,

2025 2024 2023

Time Vested Awards - Options

Shares Weighted

Price Shares Weighted-

Weighted Average Remaining Contractual Term

Shares Weighted

Weighted Average Remaining Contractual Term

Shares Weighted

Weighted Average Remaining Contractual Term

Beginning balance 2,500 $ 47.95 5.02 2,500 $ 47.95 6.02 2,500 $ 47.95 7.02

Granted 133,401 22.76 9.16 — — — — — —

Exercised — — — — — — — — —

2 unchanged sentences

Exercisable end of year 2,500 $ 47.95 4.02 2,500 $ 47.95 5.02 2,500 $ 47.95 6.02

There were no grants of stock options during the years ended December 31, 2024, 2023 and 2022.

Grants of stock options have expected lives based on the "simplified" method allowed by ASC 718 "Compensation," whereby the expected term is equal to the midpoint between the vesting date and the end of the contractual term of the award.

There was no intrinsic value of outstanding stock options for both December 31, 2025 and 2024.

The total fair value of stock options vested was $ 18 thousand for all three years ended December 31, 2024, 2023 and 2022.

At December 31, 2024, there is no unrecognized stock-based compensation expense related to stock options.

Cash proceeds, tax benefits and intrinsic value related to total stock options exercised is as follows:

Years Ended December 31,

(dollars in thousands) 2024 2023 2022

Proceeds from stock options exercised $ — $ — $ 97

Tax benefits realized from stock compensation — — 3

Intrinsic value of stock options exercised — — 98

The total fair value of stock options granted for the year ended December 31, 2025 was $ 1.1 million.

There were no stock options granted in 2024 and 2023.

As of December 31, 2025, there was $ 686 thousand of total unrecognized compensation expense related to non-vested stock options.

The cost is expected to be recognized over a weighted-average period of 2.16 years.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 15 – Stock-Based Compensation

The fair value of options granted was determined using the following weighted-average assumptions as of the grant date.

No options were granted in 2024 and 2023.

For the Year Ended December 31,

2025 2024 2023

Risk-free interest rate 4.09 % N/A N/A

Expected term in years

Expected stock price volatility 43.94 % N/A N/A

Dividend yield

2.90 % N/A N/A

Cash proceeds, tax benefits and intrinsic value related to total stock options exercised were $ 0 for the years December 31, 2025, 2024 and 2023.

Approved by shareholders in May 2021, the 2021 ESPP reserved 200,000 shares of common stock for issuance to employees.

2 unchanged sentences

Participants may contribute a minimum of $ 10 per pay period to a maximum of $ 25,000 annually (not to exceed more than 10 % of compensation per pay period).

At December 31, 2024, the 2021 ESPP had 133,865 shares reserved for issuance.

As of December 31, 2025, the 2021 ESPP had 112,474 shares reserved for issuance.

Included in salaries and employee benefits in the accompanying Consolidated Statements of Operations, the Company recognized $ 7.0 million, $ 9.6 million and $ 10.0 million in stock-based compensation expense for 2025, 2024 and 2023, respectively.

Stock-based compensation expense is recognized ratably over the requisite service period for all awards.

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Note 16 – Employee Benefit Plans

1 unchanged sentence

The Company makes contributions to the Plan based on a matching formula, which is reviewed annually.

For the years 2024, 2023 and 2022, the Company recognized $ 1.7 million, $ 1.7 million and $ 1.8 million in expense associated with this benefit, respectively.

The table below displays the expense associated with this benefit.

These amounts are included in salaries and employee benefits in the accompanying Consolidated Statements of Operations.

(dollars in thousands)

2025 2024 2023

Qualified 401(k) Plan expense $ 1,759 $ 1,749 $ 1,684

Note 17 – Supplemental Executive Retirement Plan

3 unchanged sentences

The SERP Agreements further provide for a death benefit in the event the retired executive dies prior to receiving 180 monthly installments, paid either in a lump sum payment or continued monthly installment payments, such that the executive’s beneficiary has received payment(s) sufficient to equate to a cumulative 180 monthly installments.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 17 – Supplemental Executive Retirement Plan

The SERP Agreements are unfunded arrangements maintained primarily to provide supplemental retirement benefits and comply with Section 409A of the Internal Revenue Code.

1 unchanged sentence

These annuity contracts have been designed to provide a future source of funds for the lifetime retirement benefits of the SERP Agreements.

The cash surrender value of the annuity contracts was $ 12.7 million and $ 13.1 million at December 31, 2024 and 2023, respectively, and was included in other assets on the Consolidated Balance Sheets.

The cash surrender value of the annuity contracts was $ 12.1 million and $ 12.7 million as of December 31, 2025 and 2024, respectively, and was included in other assets on the Consolidated Balance Sheets.

For the years ended December 31, 2025, 2024 and 2023 the Company recorded benefit expense accruals of $ 351 thousand, $ 410 thousand and $ 584 thousand, respectively, for this post retirement benefit.

8 unchanged sentences

Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.

Loan commitments outstanding and lines and letters of credit at December 31, 2024 and 2023 are as follows:

The table below presents the loan commitments outstanding and lines and letters of credit.

As of December 31,

(dollars in thousands) 2025 2024

3 unchanged sentences

Total $ 1,622,876 $ 1,475,489

As of December 31, 2024, the total reserve for unfunded commitments was $ 3.5 million as compared to $ 5.6 million at December 31, 2023 and is accounted for as a liability on the Consolidated Balance Sheets.

See Note 1 of the Consolidated Financial Statements for more information on the accounting policy for the allowance for unfunded commitments.

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As of December 31, 2025, the total reserve for unfunded commitments was $ 5.1 million as compared to $ 3.5 million as of December 31, 2024 and is accounted for as a liability on the Consolidated Balance Sheets.

See "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements for more information on the accounting policy for the allowance for unfunded commitments.

Note 19 – Commitments and Contingent Liabilities

Under ASC 450, the Company accrues for a loss contingency when the loss is probable and reasonably estimable.

The Company discloses the matter if a material loss is at least reasonably possible.

Under ASC 450, a loss contingency is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely”, and a loss contingency is “remote” if “the chance of the future event or events occurring is slight.” We evaluate, on a quarterly basis, developments in legal proceedings with respect to accruals, as well as the estimated range of possible losses.

From time to time, the Company and its subsidiaries are involved in various legal proceedings incidental to their business in the ordinary course, including matters in which damages in various amounts are claimed, as well as regulatory and governmental investigations and inquiries that could result in penalties, fines or other sanctions against the Company.

1 unchanged sentence

However, considering inherent uncertainties involved in such matters, ongoing legal expenses or an adverse outcome in one or more of these matters could materially and adversely affect the Company's financial condition, results of operations or cash flows in any particular reporting period, as well as its reputation.

Under ASC 450, the Company accrues for a loss contingency when the loss is probable and reasonably estimable.

The Company discloses the matter if a material loss is at least reasonably possible.

Under ASC 450, a loss contingency is "reasonably possible" if "the chance of the future event or events occurring is more than remote but less than likely," and a loss contingency is "remote" if "the chance of the future event or events occurring is slight." We evaluate, on a quarterly basis, developments in legal proceedings with respect to accruals, as well as the estimated range of possible losses.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 19 – Commitments and Contingent Liabilities

The Company is cooperating with an ongoing investigation by the U.S.

Attorney’s Office for the Middle District of Pennsylvania into, among other things, the Company’s anti-money laundering controls between approximately 2011 and 2017 and the Company’s relationship with a former customer who pleaded guilty to a charge of bank fraud in 2020.

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.

Attorney’s Office for the Middle District of Pennsylvania into, among other things, the Company’s anti-money laundering controls and the Company’s relationship with a former customer who pleaded guilty to a charge of bank fraud in 2020.

The Company is engaged in advanced discussions with the U.S.

Attorney’s Office regarding a potential resolution of the investigation, but there can be no assurance that these discussions will lead to a resolution.

In light of the advanced discussions, subsequent to the Company’s issuance of its earnings release on January 21, 2026, the Company accrued a provision in the amount of $ 10 million for this matter.

As previously disclosed, the Company maintains director and officer insurance policies ("D&O Insurance Policies") that provide coverage for certain legal defense costs.

9 unchanged sentences

Management believes, as of December 31, 2025 and 2024, that the Company and Bank met all capital adequacy requirements to which they are subject.

Table o f Contents

The actual capital amounts and ratios for the Company and Bank as of December 31, 2024 and 2023 are presented in the table below:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 20 – Regulatory Matters

The table below displays the actual capital amounts and ratios for the Company and Bank.

Company Bank Minimum Required

17 unchanged sentences

Federal bank and holding company regulations, as well as Maryland law, impose certain restrictions on capital distributions, including dividend payments and share repurchases by the Bank, as well as restricting extensions of credit and transfers of assets between the Bank and the Company.

At December 31, 2024, the Bank could pay dividends to the parent to the extent of its earnings so long as it maintained capital ratios above the required minimums and the capital conservation buffer.

As of December 31, 2025, the Bank could pay dividends to the parent to the extent of its earnings so long as it maintained capital ratios above the required minimums and the capital conservation buffer.

As a result the Company may be restricted in paying dividends.

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 21 – Other Comprehensive Income (Loss)

Note 21 – Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022.

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

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

Year Ended December 31, 2025

Net unrealized gain (loss) on securities available-for-sale $ 20,417 $ ( 5,011 ) $ 15,406

Reclassification adjustment for net loss included in net loss

Unrealized gain (loss) on securities available-for-sale

$ 59,119 $ ( 14,274 ) $ 44,845

Reclassification adjustment for (gain) loss on fair value hedging relationships ( 108 ) — ( 108 )

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

3,823 ( 1,194 ) 2,629

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

62,834 ( 15,468 ) 47,366

Amortization of unrealized loss on securities transferred to held-to-maturity 6,889 ( 1,599 ) 5,290

Net unrealized loss on derivatives 265 ( 65 ) 200

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 6,346 ( 1,464 ) 4,882

Total unrealized gain (loss) on securities held-to-maturity 6,346 ( 1,464 ) 4,882

Unrealized gain (loss) on derivatives

Reclassification adjustment for (gain) loss on cash flow hedging relationships 51 ( 12 ) 39

Total unrealized gain (loss) on derivatives 87 ( 21 ) 66

Other comprehensive income (loss) $ 69,267 $ ( 16,953 ) $ 52,314

Year Ended December 31, 2024

Net unrealized gain (loss) on securities available-for-sale

Unrealized gain (loss) on securities available-for-sale $ 20,417 $ ( 5,011 ) $ 15,406

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

( 14 ) 2 ( 12 )

Reclassification adjustment for net loss included in net income 11 ( 3 ) 8

Total unrealized gain (loss) on securities available-for-sale 20,403 ( 5,009 ) 15,394

43,304 ( 10,777 ) 32,527

Amortization of unrealized loss on securities transferred to held-to-maturity 7,412 ( 2,607 ) 4,805

Net unrealized loss on derivatives

( 182 ) — ( 182 )

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 6,889 ( 1,599 ) 5,290

Unrealized gain (loss) on derivatives 265 ( 65 ) 200

Other comprehensive income (loss) $ 27,557 $ ( 6,673 ) $ 20,884

$ 50,534 $ ( 13,384 ) $ 37,150

Year Ended December 31, 2023

Net unrealized gain (loss) on securities available-for-sale

$ ( 186,439 ) $ 45,513 $ ( 140,926 )

Reclassification adjustment for net loss included in net income

169 ( 58 ) 111

Unrealized gain (loss) on securities available-for-sale $ 43,293 $ ( 10,774 ) $ 32,519

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

Total unrealized gain (loss) on securities available-for-sale 43,304 ( 10,777 ) 32,527

( 186,270 ) 45,455 ( 140,815 )

Net unrealized gain (loss) on securities transferred to held-to-maturity ( 66,193 ) 17,098 ( 49,095 )

Amortization of unrealized loss on securities transferred to held-to-maturity 7,093 ( 2,732 ) 4,361

Total unrealized gain (loss) on securities transferred to held-to-maturity

( 59,100 ) 14,366 ( 44,734 )

Net unrealized gain on derivatives

Amortization of unrealized gain (loss) on securities transferred to held-to-maturity 7,412 ( 2,607 ) 4,805

Unrealized gain (loss) on derivatives ( 182 ) — ( 182 )

Other comprehensive income (loss) $ 50,534 $ ( 13,384 ) $ 37,150

Table o f Contents

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2024, 2023 and 2022.

(dollars in thousands) Securities Available

For Sale Held-to-Maturity Securities Derivatives Accumulated Other

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 21 – 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)

Year Ended December 31, 2024

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

For the Year Ended December 31, 2025

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

Other comprehensive income (loss) before reclassifications 44,845 — 27 44,872

Amortization of unrealized loss on securities transferred to held-to-maturity — 4,882 — 4,882

Amounts reclassified from accumulated other comprehensive loss ( 12 ) — — ( 12 )

Amounts reclassified from accumulated other comprehensive income (loss) 2,521 — 39 2,560

Net other comprehensive income (loss) during period 47,366 4,882 66 52,314

Balance at end of year $ ( 106,852 ) $ ( 34,639 ) $ 18 $ ( 141,473 )

Year Ended December 31, 2023

Balance at beginning of year $ ( 154,773 ) $ ( 44,734 ) $ — $ ( 199,507 )

Balance at end of period $ ( 59,486 ) $ ( 29,757 ) $ 84 $ ( 89,159 )

For the Year Ended December 31, 2024

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

Other comprehensive income (loss) before reclassifications 15,406 — 200 15,606

32,519 — ( 182 ) 32,337

Amortization of unrealized loss on securities transferred to held-to-maturity — 5,290 5,290

Amounts reclassified from accumulated other comprehensive loss 8 — — 8

Amounts reclassified from accumulated other comprehensive income (loss) ( 12 ) — — ( 12 )

Net other comprehensive income (loss) during period 15,394 5,290 200 20,884

32,527 4,805 ( 182 ) 37,150

Balance at end of year $ ( 122,246 ) $ ( 39,929 ) $ ( 182 ) $ ( 162,357 )

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

Year Ended December 31, 2023

1 unchanged sentence

Other comprehensive income (loss) before reclassifications 32,519 — ( 182 ) 32,337

Transfer of securities from AFS to HTM — ( 49,095 ) — ( 49,095 )

Amortization of unrealized loss on securities transferred to held-to-maturity — 4,805 — 4,805

2 unchanged sentences

Balance at end of year $ ( 122,246 ) $ ( 39,929 ) $ ( 182 ) $ ( 162,357 )

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022.

Amount Reclassified from

Accumulated Other

Comprehensive Income (Loss) Affected Line Item in

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

Amount Reclassified from Accumulated

Other Comprehensive Income (Loss) Affected Line Item in

the Statement Where

Net Income (Loss) is Presented

Year Ended Years Ended

For the Year Ended December 31,

(dollars in thousands) 2025 2024 2023

Realized gain (loss) on sale of investment securities $ ( 3,823 ) $ 14 $ ( 11 ) Net gain (loss) on sale of investment securities

Gain (loss) on fair value hedging relationships - AFS securities

108 — — Interest income

Gain (loss) on cash flow hedging relationships - Loans

( 51 ) — — Interest income

Income tax benefit (expense) 1,206 ( 2 ) 3 Income tax expense

Total $ ( 2,560 ) $ 12 $ ( 8 ) Net Income (Loss)

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 22 – Fair Value Measurements

Note 22 – Fair Value Measurements

9 unchanged sentences

This category generally includes certain U.S.

Government and agency securities, corporate debt securities, derivative instruments and residential mortgage loans held for sale.

Government and agency securities, corporate debt securities, and derivative instruments.

Level 3 Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation;

1 unchanged sentence

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

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 22 – 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 December 31, 2024 and 2023:

(dollars in thousands) Quoted Prices

(Level 1) Significant Other

Observable Inputs

(Level 2) Significant Other

Unobservable Inputs

(Level 3) Total

December 31, 2024

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

As of December 31, 2025

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

Investment securities available-for-sale:

treasury bonds $ — $ 24,776 $ — $ 24,776

agency securities $ — $ 337,708 $ — $ 337,708

1 unchanged sentence

Commercial mortgage-backed securities — 66,545 — 66,545

— 48,945 — 48,945

Municipal bonds — 8,046 — 8,046

Corporate bonds — 1,967 — 1,967

Interest rate product — 31,592 — 31,592

Credit risk participation agreements — — — —

Total assets measured at fair value on a recurring basis as of December 31, 2024 $ — $ 1,298,996 $ — $ 1,298,996

Interest rate product $ — $ 29,110 $ — $ 29,110

Total liabilities measured at fair value on a recurring basis as of December 31, 2024 $ — $ 29,110 $ — $ 29,110

December 31, 2023

Derivative assets

— 24,332 — 24,332

Total assets measured at fair value on a recurring basis

$ — $ 1,001,102 $ — $ 1,001,102

Derivative liabilities

$ — $ 23,942 $ — $ 23,942

Total liabilities measured at fair value on a recurring basis

$ — $ 23,942 $ — $ 23,942

As of 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

Investment securities available-for-sale:

3 unchanged sentences

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

— 49,564 — 49,564

Municipal bonds — 8,014 — 8,014

Corporate bonds — 1,818 — 1,818

Interest rate product — 30,662 — 30,662

Credit risk participation agreements — 3 — 3

Total assets measured at fair value on a recurring basis as of December 31, 2023 $ — $ 1,537,053 $ — $ 1,537,053

Interest rate product $ — $ 30,555 $ — $ 30,555

Total liabilities measured at fair value on a recurring basis as of December 31, 2023 $ — $ 30,555 $ — $ 30,555

Table o f Contents

Derivative assets — 31,592 — 31,592

Total assets measured at fair value on a recurring basis

$ — $ 1,298,996 $ — $ 1,298,996

Derivative liabilities $ — $ 29,110 $ — $ 29,110

Total liabilities measured at fair value on a recurring basis

$ — $ 29,110 $ — $ 29,110

Investment securities available-for-sale:

11 unchanged sentences

Accordingly, RPAs fall within Level 2.

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 22 – Fair Value Measurements

Interest rate derivatives:

5 unchanged sentences

The Company measures certain assets at fair value on a nonrecurring basis and the following is a general description of the methods used to value such assets.

The fair value of individually assessed loans is estimated using one of several methods, including the collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows.

The fair value of individually assessed loans and HFS loans is estimated using one of several methods, including the collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows.

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.

At December 31, 2024, 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 December 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 and HFS 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 at December 31, 2024 and 2023.

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

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

As of December 31, 2025

(dollars in thousands) Quoted Prices

4 unchanged sentences

(Level 3) Total

December 31, 2024

Individually assessed loans:

4 unchanged sentences

Construction - commercial and residential — — 14,460 14,460

Home equity — — — —

Consumer — — 333 333

Loans held for sale — — 90,650 90,650

Other real estate owned — — 2,059 2,059

Total assets measured at fair value on a nonrecurring basis as of December 31, 2024 $ — $ — $ 194,937 $ 194,937

Table o f Contents

Total assets measured at fair value on a nonrecurring basis

$ — $ — $ 180,011 $ 180,011

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 22 – Fair Value Measurements

As of December 31, 2024

(dollars in thousands) Quoted Prices

4 unchanged sentences

(Level 3) Total

December 31, 2023

Individually assessed loans:

2 unchanged sentences

Owner occupied - commercial real estate — — 30,384 30,384

Real estate mortgage - residential — — 1,638 1,638

Home equity — — 242 242

Construction - commercial and residential — — 303 303

Other real estate owned — — 2,743 2,743

Total assets measured at fair value on a nonrecurring basis as of December 31, 2023 $ — $ — $ 66,777 $ 66,777

Total assets measured at fair value on a nonrecurring basis

$ — $ — $ 194,937 $ 194,937

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.

Table o f Contents

The estimated fair values of the Company’s financial instruments at December 31, 2024 and 2023 are as follows:

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 22 – 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)

December 31, 2024

As of December 31, 2025

Cash and due from banks $ 11,692 $ 11,692 $ 11,692 $ — $ —

Federal funds sold 2,581 2,581 — 2,581 —

Interest-bearing deposits with other banks 684,001 684,001 — 684,001 —

2 unchanged sentences

Federal Reserve and Federal Home Loan Bank stock 28,327 N/A — — —

Loans 7,934,888 7,707,424 — — 7,707,424

Loans held for sale 90,650 90,650 — 90,650

Loans held for investment 7,280,459 7,093,276 — — 7,093,276

Bank owned life insurance 335,177 335,177 — 335,177 —

5 unchanged sentences

Time deposits 3,036,687 3,050,951 — 3,050,951 —

Customer repurchase agreements 33,157 33,157 — 33,157 —

Other short-term borrowings

490,000 490,000 — 490,000 —

Long-term borrowings 76,428 80,329 — 80,329 —

1 unchanged sentence

Accrued interest payable 10,798 10,798 — 10,798 —

December 31, 2023

As of December 31, 2024

Cash and due from banks $ 14,463 $ 14,463 $ 11,882 $ 2,581 $ —

Federal funds sold 3,740 3,740 — 3,740 —

Interest-bearing deposits with other banks 619,017 619,017 — 619,017 —

2 unchanged sentences

Federal Reserve and Federal Home Loan Bank stock 51,763 N/A — — —

Loans held for sale — — — — —

Loans 7,968,695 7,720,241 — — 7,720,241

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

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

Annuity investment 12,656 12,656 — 12,656 —

Credit risk participation agreements 3 3 — 3 —

Interest rate product 31,592 31,592 — 31,592 —

5 unchanged sentences

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

1,369,918 1,368,621 — 1,368,621 —

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

1 unchanged sentence

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

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 23 – Parent Company Financial Information

Note 23 – Parent Company Financial Information

Condensed financial information for Eagle Bancorp, Inc.

(the "Parent Company") is as follows:

The tables below present the condensed financial information for Eagle Bancorp, Inc.

(the "Parent Company").

Parent Company

Condensed Balance Sheets as of

(dollars in thousands) December 31, 2024 December 31, 2023

Condensed Balance Sheets

As of December 31,

(dollars in thousands) 2025 2024

Cash and due from banks $ 8,693 $ 23,561

Investment securities available-for-sale, at fair value

Investment securities held-to-maturity, net allowance for credit losses of $ 806 and $ 1,000 , respectively

4 unchanged sentences

Other liabilities $ 2,150 $ 2,041

76,108 69,918

Borrowings 76,429 76,108

Total liabilities 78,579 78,149

6 unchanged sentences

Total Liabilities and Shareholders’ Equity $ 1,209,862 $ 1,304,210

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 23 – Parent Company Financial Information

Parent Company

Condensed Statements of Operations

Years Ended December 31,

Condensed Statement of Operations

For the Year Ended December 31,

(dollars in thousands) 2025 2024 2023

7 unchanged sentences

Provision for (reversal of) credit losses ( 195 ) ( 449 ) 1,124

( 449 ) 1,124 326

Other expenses 2,237 1,411 879

1,411 879 14,746

Total Expenses 12,066 6,728 8,444

Income Before Income Tax Expense (Benefit) and Equity in Undistributed Income (Loss) of Subsidiaries 311 93,634 117,863

93,634 117,863 66,999

Income Tax Expense (Benefit) ( 1,123 ) 2,182 ( 1,220 )

2,182 ( 1,220 ) ( 1,183 )

Income Before Equity in Undistributed Income (Loss) of Subsidiaries 1,434 91,452 119,083

91,452 119,083 68,182

Equity in Undistributed Income (Loss) of Subsidiaries ( 139,486 ) ( 138,487 ) ( 18,549 )

( 138,487 ) ( 18,549 ) 72,748

Net Income (loss) $ ( 138,052 ) $ ( 47,035 ) $ 100,534

$ ( 47,035 ) $ 100,534 $ 140,930

Table o f Contents

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 23 – Parent Company Financial Information

Parent Company

Condensed Statements of Cash Flows

Years Ended December 31,

For the Year Ended December 31,

(dollars in thousands) 2025 2024 2023

1 unchanged sentence

Net Income (Loss) $ ( 138,052 ) $ ( 47,035 ) $ 100,534

$ ( 47,035 ) $ 100,534 $ 140,930

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Equity in undistributed income (loss) of subsidiary 139,486 138,487 18,549

138,487 18,549 ( 72,748 )

Net tax benefits from stock based compensation expense 7,047 9,561 10,018

1 unchanged sentence

Provision for (reversal of) credit losses for investment securities held-to-maturity ( 195 ) ( 449 ) 1,124

( 449 ) 1,124 326

Depreciation and amortization 330 82 124

1 unchanged sentence

Increase (decrease) in other liabilities 56 2,917 ( 1,064 )

2,917 ( 1,064 ) 4,593

Net cash provided by operating activities 10 92,632 118,894

1 unchanged sentence

Investment in subsidiary — ( 70,000 ) —

( 70,000 ) — —

Purchases of held-to-maturities investment securities — — —

1 unchanged sentence

Net cash used in investing activities — ( 70,000 ) —

( 70,000 ) — ( 2,476 )

Cash Flows From Financing Activities

10 unchanged sentences

Transfers of investment securities from available-for-sale to held-to-maturity $ — $ — $ —

Eagle Bancorp, Inc 2025 Form 10-K

Notes to Consolidated Financial Statements | Note 24 – Segment Reporting

Note 24 – Segment Reporting

The Company has one reporting unit, one operating segment and, consequently, a single reportable segment.

The Chief Executive Officer, who is the Company’s CODM, monitors revenue streams and other information provided about the company’s products and services offered, primarily banking operations.

The Chief Executive Officer, who is the Company’s chief operating decision maker ("CODM"), monitors revenue streams and other information provided about the company’s products and services offered, primarily banking operations.

The information provided to the CODM is presented on an aggregated entity-level basis, which is consistent with the accompanying Consolidated Financial Statements presented in this Form 10-K.

3 unchanged sentences

The benchmarking analysis coupled with monitoring of budget to actual results are used in assessing performance and allocating resources.

Loans, investments, and deposits provide the revenues in the Company's operation.

Interest income and fees on loans, investments, and deposits provide the majority of revenues in the Company's operation.

Interest expense, provisions for credit losses, and payroll provide the significant expenses in the Company's operations.

1 unchanged sentence

All of the Company’s operations are domestic.

Table o f Contents

Note 25 - Subsequent Events

The Company’s management has evaluated subsequent events through the date this filing and determined that the following qualifies as a Type 1 subsequent event:

Subsequent to the Company’s issuance of its earnings release on January 21, 2026, additional information became available related to the investigation by the U.S.

Attorney’s Office for the Middle District of Pennsylvania disclosed in “Note 19 – Commitments and Contingent Liabilities”.

This information provided further evidence about conditions that existed at December 31, 2025, and management concluded that a $ 10 million provision should be recorded as of year end.

Refer to Note 19 for further information on this matter.

Eagle Bancorp, Inc 2025 Form 10-K

Changes in and Disagreements with Accountants on Accounting and Financial Disclosures

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES

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-K

Item 8. Financial Statements and Supplementary Data