What changed in this filing

/stocks — the workspaceLOADING

Item 2. Management’s Discussion and Analysis

2026-08-06 compared with 2026-05-07 · 271 added, 193 removed, 731 unchanged (39% of the section changed)

27 unchanged sentences

The Bank is also active in

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | General

21 unchanged sentences

The modeling of expected prepayment speeds is based on historical internal data and adjustments to account for loan-specific risk characteristics after pooling our loan portfolio based on similar risk characteristics.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Critical Accounting Policies and Estimates

The Company uses regression analysis of historical internal and peer data provided by a third-party service provider (as Company loss data alone is insufficient) to determine suitable loss drivers to utilize when modeling lifetime PD and LGD.

2 unchanged sentences

The four economic variables selected, national unemployment (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.

The updated model incorporates a weighting of three economic scenarios;

The model incorporates a weighting of three economic scenarios;

baseline, upside and downside.

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

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

The loss driver analysis is spread over a reasonable and supportable period

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Critical Accounting Policies and Estimates

of 18 months and reverts back to a historical loss rate over twelve months on a straight-line basis over the loan's remaining maturity.

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

3 unchanged sentences

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

Relevant factors reflected in the qualitative component of the reserve 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.

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.

Management has developed an analytical process to monitor the adequacy of the ACL.

6 unchanged sentences

This section discusses our condensed consolidated results of operations and should be read together with our consolidated financial statements and the accompanying notes.

For the Three Months Ended March 31,

(dollars in thousands) 2026 2025 Change

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

(dollars in thousands) 2026 2025 Change 2026 2025 Change

Net Interest Income $ 62,350 $ 67,776 $ (5,426) $ 126,044 $ 133,425 $ (7,381)

6 unchanged sentences

Income Tax Expense (Benefit) 707 (39,423) 40,130 2,048 (38,651) 40,699

1,341 772 569

Net Income (Loss) $ 6,918 $ (69,775) $ 76,693 $ 21,636 $ (68,100) $ 89,736

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations

The increase in net income for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, was primarily due to lower provision for credit losses during three months ended March 31, 2026.

The change to net income for the three and six months ended June 30, 2026 compared to net loss in the three and six months ended June 30, 2025, was primarily due to lower provision for credit losses, partially offset by the corresponding tax impact, during the three and six months ended June 30, 2026.

See respective subsections below for the primary drivers of change and further discussion on net interest income, provision for credit losses, noninterest income, noninterest expenses, and income tax expenses.

When the impact of the provision is excluded, pre-provision net revenue ("PPNR"), a non-GAAP measure, was relatively flat at $27.7 million for the three months ended March 31, 2026, as compared to $28.4 million for the three months ended March 31, 2025.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations

When the impact of the provision is excluded, pre-provision net revenue ("PPNR"), a non-GAAP measure, was relatively flat at $29.1 million for the three months ended June 30, 2026, as compared to $30.7 million for the same period in 2025.

PPNR was $56.7 million for the six months ended June 30, 2026, as compared to $59.1 million for the same period in 2025.

Refer to the "Use of Non-GAAP Financial Measures" section for additional detail and a reconciliation of GAAP to non-GAAP financial measures.

The efficiency ratio, which measures the ratio of noninterest expense to total net revenue (the sum of net interest income and noninterest income), was 63.79% for the three months ended March 31, 2026 compared to 61.54% for the three months ended March 31, 2025.

Net interest margin, which measures net interest income as a percentage of earning assets, was 2.47% for the three months ended March 31, 2026, an increase compared to 2.28% for the three months ended March 31, 2025.

The efficiency ratio, which measures the ratio of noninterest expense to total net revenue (the sum of net interest income and noninterest income), was 60.22% and 62.05%, respectively, for the three and six months ended June 30, 2026 compared to 58.59% and 60.06% for the three and six months ended June 30, 2025.

Net interest margin, which measures net interest income as a percentage of earning assets, was 2.52% and 2.49% for the three and six months ended June 30, 2026, an increase compared to 2.37% and 2.33%, respectively, for the three and six months ended June 30, 2025.

For further information on the components and drivers of these changes, see the "Net Interest Income and Net Interest Margin" section below.

Loans, which generally have higher yields than securities and other earning assets, represented 68.0% and 68.2% of average earning assets for three months ended March 31, 2026 and 2025, respectively.

Loans, which generally have higher yields than securities and other earning assets, represented 68.7% and 68.8% of average earning assets for six months ended June 30, 2026 and 2025, respectively.

Refer to the "Loan Portfolio" below for further discussion on loans.

Average investment securities for the three months ended March 31, 2026 were 17.6% of average earning assets compared to 19.4% for the three months ended March 31, 2025.

Interest-bearing deposits with other banks represented 14.4% and 12.5% of average earning assets for three months ended March 31, 2026 and 2025, respectively.

The ratio of common equity to total assets increased to 11.51% as of March 31, 2026, compared to 10.78% as of December 31, 2025.

For the three months ended March 31, 2026, the return on average assets ("ROAA") was 0.54%, compared to 0.06% for the three months ended March 31, 2025.

Total shareholders’ equity was $1.15 billion as of March 31, 2026, compared to $1.13 billion as of December 31, 2025, an increase of 1%.

The return (loss) on average common equity for three months ended March 31, 2026 was 5.20%, compared to 0.55% for the three months ended March 31, 2025.

Average investment securities for the six months ended June 30, 2026 was 17.8% of average earning assets compared to 19.1% for the six months ended June 30, 2025.

Interest-bearing deposits with other banks represented 13.59% and 12.04% of average earning assets for six months ended June 30, 2026 and 2025, respectively.

The ratio of common equity to total assets increased to 11.91% as of June 30, 2026, compared to 10.78% as of December 31, 2025.

For the three and six months ended June 30, 2026, the return on average assets ("ROAA") were 0.26% and 0.40%, respectively, compared to (2.33)% and (1.14)% for the periods in 2025.

Total shareholders’ equity was $1.15 billion as of June 30, 2026, compared to $1.13 billion as of December 31, 2025, an increase of 2%.

The return (loss) on average common equity for three and six months ended June 30, 2026 was 2.41% and 3.79%, respectively, compared to (22.35)% and (11.01)% for the same periods in 2025.

Net Interest Income and Net Interest Margin

10 unchanged sentences

Net interest margin is net interest income expressed as a percentage of average earning assets.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Net Interest Income and Net Interest Margin

1 unchanged sentence

Consolidated Average Balances, Interest Yields And Rates (Unaudited)

For the Three Months Ended March 31,

(dollars in thousands)

For the Three Months Ended June 30,

Balance Interest Average

Interest earning assets:

Interest-bearing deposits with other banks and other short-term investments $ 1,226,640 $ 10,978 3.59% $ 1,377,966 $ 14,773 4.30%

Loans held for sale 40,356 910 9.04% 15,418 284 7.39%

Loans (1) (2)

6,888,734 105,448 6.14% 7,942,333 124,939 6.31%

Investment securities available-for-sale (2)

950,891 5,147 2.17% 1,233,206 6,491 2.11%

Investment securities held-to-maturity 830,921 4,096 1.98% 918,083 4,945 2.16%

Total interest earning assets 9,937,542 126,579 5.11% 11,487,006 151,432 5.29%

Noninterest earning assets 737,466 635,125

allowance for credit losses (151,328) (133,036)

Total noninterest earning assets 586,138 502,089

Total assets $ 10,523,680 $ 11,989,095

Liabilities and Shareholders’ Equity

Interest-bearing liabilities:

Interest-bearing transaction $ 1,447,015 $ 9,379 2.60% $ 1,489,056 $ 9,982 2.69%

Savings and money market 3,194,094 24,139 3.03% 3,461,918 29,634 3.43%

Time deposits 2,683,953 28,044 4.19% 3,367,907 39,296 4.68%

Total interest-bearing deposits 7,325,062 61,562 3.37% 8,318,881 78,912 3.80%

Customer repurchase agreements and federal funds purchased — — —% 34,387 250 2.92%

Derivative collateral liability 14,834 60 1.62% 12,710 118 3.72%

Other short-term borrowings 60,440 583 3.87% 245,291 2,360 3.86%

Long-term borrowings 76,566 2,024 10.60% 76,236 2,016 10.61%

Total interest-bearing liabilities 7,476,902 64,229 3.45% 8,687,505 83,656 3.86%

Noninterest-bearing liabilities:

Noninterest-bearing demand 1,760,058 1,907,214

Other liabilities 133,356 142,124

Total noninterest-bearing liabilities 1,893,414 2,049,338

Shareholders’ equity 1,153,364 1,252,252

Total Liabilities and Shareholders’ Equity $ 10,523,680 $ 11,989,095

Net interest income $ 62,350 $ 67,776

Net interest spread 1.66% 1.43%

Net interest margin 2.52% 2.37%

Cost of funds 2.79% 3.17%

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Net Interest Income and Net Interest Margin

Eagle Bancorp, Inc.

Consolidated Average Balances, Interest Yields And Rates (Unaudited)

(dollars in thousands)

For the Six Months Ended June 30,

(dollars in thousands) Average

37 unchanged sentences

(1) Loans placed on nonaccrual status are included in average balances.

Net loan fees and late charges included in interest income on loans totaled $3.9 million and $3.8 million for the three months ended March 31, 2026 and 2025, respectively.

Net loan fees and late charges included in interest income on loans totaled $3.9 million and $7.8 million for the three and six months ended June 30, 2026, respectively, and $3.6 million and $7.4 million for the three and six months ended June 30, 2025, respectively.

(2) Interest and fees on loans and investments exclude tax equivalent adjustments.

Net interest income decreased in the first quarter of 2026 compared to the first quarter of 2025, primarily due to a larger decrease in interest-earning assets compared to interest-bearing liabilities.

Additionally, average loan yields and interest bearing deposits with other banks and short term investments yields were lower in first quarter of 2026 compared to the first quarter of 2025, partially offset by lower rates on interest-bearing liabilities.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Net Interest Income and Net Interest Margin

Net interest margin was 2.47% for the three months ended March 31, 2026, an increase compared to 2.28% for the three months ended March 31, 2025.

The cost of funds on interest-bearing liabilities decreased by 51 basis points from 3.35% for the first quarter of 2025 to 2.84% for the first quarter of 2026, while the yield on interest-earning assets had a decrease of 24 basis points from 5.36% for the first quarter of 2025 to 5.12% for the first quarter of 2026.

Net interest income decreased in the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, primarily due to a larger decrease in interest-earning assets compared to interest-bearing liabilities.

Additionally, average loan yields and yields on interest bearing deposits with other banks and short term investments were lower in the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025, partially offset by lower rates on interest-bearing liabilities.

Net interest margin was 2.52% for the three months ended June 30, 2026, an increase compared to 2.37% for the three months ended June 30, 2025.

The cost of funds decreased by 38 basis points from 3.17% for the second quarter of 2025 to 2.79% for the second quarter of 2026, while the yield on interest-earning assets had a decrease of 18 basis points from 5.29% for the second quarter of 2025 to 5.11% for the second quarter of 2026.

Net interest margin was 2.49% for the six months ended June 30, 2026, an increase compared to 2.33% for the six months ended June 30, 2025.

The cost of funds decreased by 44 basis points from 3.26% for the first half of 2025 to 2.82% for the first half 2026, while the yield on interest-earning assets had a decrease of 23 basis points from 5.34% for the first half of 2025 to 5.11% for the first half of 2026.

Rate/Volume Analysis of Net Interest Income

The rate/volume table below presents the composition of the change in net interest income for the period indicated, as allocated between the change in net interest income due to changes in the volume of average earning assets and interest-bearing liabilities, and the changes in net interest income due to changes in interest rates.

Three Months Ended March 31, 2026 Compared with

Three Months Ended March 31, 2025

Three Months Ended June 30, 2026 Compared with

Three Months Ended June 30, 2025

Six Months Ended June 30, 2026 Compared with

Six Months Ended June 30, 2025

(dollars in thousands) Change

Volume Change

(Decrease) Change

Volume Change

Interest earned on:

4 unchanged sentences

Investment securities held-to-maturity (469) (380) (849) (925) (519) (1,444)

Derivative collateral asset — — — — — —

Total interest income (19,526) (5,327) (24,853) (33,106) (13,735) (46,841)

9 unchanged sentences

Net interest income $ (6,942) $ 1,516 $ (5,426) $ (10,085) $ 2,704 $ (7,381)

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Provision for Credit Losses

Provision for Credit Losses

3 unchanged sentences

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

For the Three Months Ended March 31,

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

(dollars in thousands) 2026

3 unchanged sentences

Net charge offs in ACL $ (47,922) $ (83,878) $ (73,869) $ (95,107)

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Provision for Credit Losses

The change in the provision for credit losses on the loan portfolio for the three months ended March 31, 2026 was primarily attributable to a decrease in the qualitative reserve for CRE office loans ("office overlay"), partially offset by updated quantitative assumptions used to calculate our current expected credit losses.

Net charge-offs of $25.9 million during the three months ended March 31, 2026 represented 1.47% of average loans held for investment on an annualized basis, an increase from net charge-offs of $11.2 million in the three months ended March 31, 2025, which represented 0.57% of average loans held for investment on an annualized basis.

The change in the provision for credit losses on the loan portfolio for the three and six months ended June 30, 2026 was primarily attributable to lower reserve build for individually assessed loans, a decline in loan balances year over year and a decrease in the office overlay.

Net charge-offs of $73.9 million during the six months ended June 30, 2026 represented 2.13% of average loans held for investment on an annualized basis, a decrease from net charge-offs of $95.1 million in the six months ended June 30, 2025, which represented 2.40% of average loans held for investment on an annualized basis.

During 2025, we began executing on a revised strategy for resolving criticized and classified loans with the goal of accelerating dispositions and reducing asset quality risk.

1 unchanged sentence

These updated valuations reflect the rapidly changing commercial real estate market in the D.C.

To mitigate future valuation risk, certain loans were transferred to loans held-for-sale ("HFS") in the three months ended March 31, 2026, which resulted in charge-offs of $11.6 million to record those loans at their fair value at the time of transfer.

During the six months ended June 30, 2026, certain loans were transferred to loans held-for-sale ("HFS"),which resulted in charge-offs of $36.7 million to record those loans at their fair value at the time of transfer.

The estimated fair value reflected current market participant pricing, including discounts associated with the loans’ credit quality, collateral values, market liquidity and the anticipated timing and structure of the disposition.

We believe our actions during the current period reflect a disciplined approach to credit risk management that incorporates updated market and borrower data into our loss estimates.

The office overlay decreased in the three months ended March 31, 2026 relative to the three months ended March 31, 2025, impacted by updated assumptions associated with the PD and LGD rates as well as the migration of one sizable relationship to nonaccrual status that is now individually evaluated for a specific reserve.

The office overlay for the three months ended March 31, 2026 reflects management’s assessment of continued uncertainty in the CRE office sector, as well as potential lag effects from interest-rate sensitivity, valuation declines, and refinancing risk.

The office overlay decreased in the six months ended June 30, 2026 relative to the six months ended June 30, 2025, impacted by updated assumptions associated with the PD and LGD rates as well as the migration of one sizable relationship to nonaccrual status that is now individually evaluated for a specific reserve.

The office overlay for the six months ended June 30, 2026 reflects management’s assessment of continued uncertainty in the CRE office sector, as well as potential lag effects from interest-rate sensitivity, valuation declines, and refinancing risk.

The ACL coverage ratio remains within management’s target range and reflects the current asset quality profile, though further provision expense may be required if collateral values or borrower performance deteriorate.

Management believes the current ACL is adequate and properly reflects the current asset quality profile, though further provision expense may be required if collateral values or borrower performance deteriorate.

The provision for credit losses for the held-to-maturity securities portfolio was recorded primarily on several corporate bonds.

During the three months ended March 31, 2026, there was a reversal of provision for credit losses of $124 thousand for the held-to-maturity securities portfolio, compared to a reversal of provision expense of $54 thousand for the year ended three months ended March 31, 2025.

During the three and six months ended June 30, 2026, there was a reversal of provision for credit losses of $452 thousand and $576 thousand, respectively, for the held-to-maturity securities portfolio, compared to a reversal of provision expense of $46 thousand and $99 thousand, respectively, for the three and six months ended June 30, 2025.

The provision for credit losses for unfunded commitments is presented separately on the Consolidated Statements of Operations.

This provision considers the probability that unfunded commitments will fund, among other factors.

There was a reversal of provision of $1.8 million for the year ended three months ended March 31, 2026, compared to a reversal of provision of $297 thousand for the year ended three months ended March 31, 2025, primarily due to a reduction in unfunded loan balances during the current period.

There was a provision expense of $8.0 thousand and a reversal of provision of $1.8 million, respectively, for the three and six months ended June 30, 2026, compared to a provision expense of $1.8 million and a provision expense of $1.5 million, respectively, for the three and six months ended June 30, 2025, primarily due to a reduction in unfunded loan balances during the current period.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Provision for Credit Losses

Refer to the discussion under "Critical Accounting Policies and Estimates" above and in "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements for an overview of the methodology management employs on a quarterly basis to assess the adequacy of the allowance and the provisions charged to expense.

3 unchanged sentences

The table below summarizes the comparative noninterest income.

For the Three Months Ended March 31, Dollar Percent

For the Three Months Ended June 30, Dollar Percent

(dollars in thousands) 2026 2025 Change Change

Service charges on deposits $ 1,733 $ 1,771 $ (38) (2) %

Gain (loss) on sale of loans

2,291 — 2,291 — %

Net gain (loss) on sale of investment securities 266 (1,854) 2,120 (114) %

Increase in the cash surrender value of bank-owned life insurance 5,672 5,161 511 10 %

Other income 797 1,336 (539) (40) %

Total $ 10,759 $ 6,414 $ 4,345 68 %

For the Six Months Ended June 30, Dollar Percent

(dollars in thousands) 2026 2025 Change

5 unchanged sentences

Total $ 23,467 $ 14,621 $ 8,846 61 %

The increase in total noninterest income in the first quarter of 2026 as compared to the first quarter of 2025 was primarily due to higher gains on the sale of HFS loans and increases in the cash surrender value of BOLI.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

The increase in total noninterest income in the second quarter of 2026 as compared to the second quarter of 2025 was primarily due to higher gains on the sale of HFS loans and net gains on calls of certain investment securities.

The increase in total noninterest income in the first half of 2026 as compared to the first half of 2025 was primarily due to higher gains on the sale of HFS loans, net gains on calls of certain investment securities and increases in the BOLI earnings.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Results of Operations | Noninterest Expense

2 unchanged sentences

The table below summarizes the comparative noninterest expense.

For the Three Months Ended March 31, Dollar Percent

For the Three Months Ended June 30, Dollar Percent

(dollars in thousands) 2026 2025 Change Change

Salaries and employee benefits $ 23,366 $ 21,940 $ 1,426 6 %

Premises and equipment expenses 2,445 3,019 (574) (19) %

Marketing and advertising 1,161 1,144 17 1 %

Data processing 4,257 4,293 (36) (1) %

Legal, accounting and professional fees 4,783 1,550 3,233 209 %

FDIC insurance 4,862 8,077 (3,215) (40) %

Other expenses 3,154 3,447 (293) (9) %

Total $ 44,028 $ 43,470 $ 558 1 %

For the Six Months Ended June 30, Dollar Percent

(dollars in thousands) 2026 2025 Change

7 unchanged sentences

Total $ 92,768 $ 88,921 $ 3,847 4 %

The increase in total noninterest expense for the first quarter of 2026 as compared to the first quarter of 2025 was primarily due to $2.9 million in valuation adjustment on the remaining HFS portfolio, which are reflected in other expenses in the table above.

The modest increase in total noninterest expense for the second quarter of 2026 as compared to the second quarter of 2025 was primarily due to higher legal, accounting and professional fees and an increase in salaries and employee benefits, partially offset by lower FDIC insurance expense.

The increase in total noninterest expense for the first half of 2026 as compared to the first half of 2025 was primarily due to higher legal, accounting and professional fees, valuation adjustment on the remaining HFS portfolio and an increase in salaries and employee benefits, partially offset by lower FDIC insurance expense.

The major components of other expenses include regulatory assessment fees, director compensation, real estate taxes, and insurance expenses.

Additionally, when applicable, other expenses also include valuation adjustments and any disposition costs related to HFS loans.

As a percentage of average assets, total noninterest expense (annualized) was 1.79% for the first quarter of 2026 as compared to 1.52% in the first quarter of 2025.

As a percentage of average assets, total noninterest expense (annualized) was 1.68% and 1.74%, respectively for the three and six months ended June 30, 2026 as compared to 1.45% and 1.48%, respectively, in the three and six months ended June 30, 2025.

Income Tax Expense

For the three months ended March 31, 2026, income tax expense was $1.3 million, compared to $772 thousand for the three months ended March 31, 2025.

The increase in income tax expense was primarily due to an increase in the pre-tax income during the first quarter of 2026.

The effective tax rate for the three months ended March 31, 2026 was 8.35%.

The effective tax rate represents the percentage of income tax expense against the pre-tax income in the three months ended March 31, 2026.

The effective tax rate for the three months ended March 31, 2026 varies from the 21% statutory rate primarily due to the tax benefit from the low-income housing tax credit equity investment, tax-exempt interest income and tax-exempt income from the increase in the cash surrender value of BOLI.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

For the three and six months ended June 30, 2026, income tax expense was $707 thousand and $2.0 million, respectively, compared to income tax benefit of $39.4 million and $38.7 million, respectively, for the three and six months ended June 30, 2025.

The increase in income tax expense was primarily due to the change from a loss to income position from the three and six months ended June 30, 2025 to the three and six months ended June 30, 2026.

The effective tax rate for the three and six months ended June 30, 2026 was 9.27% and 8.65%, respectively.

The effective tax rate represents the percentage of income tax expense against the pre-tax income in the three and six months ended June 30, 2026.

The effective tax rate for the first half of 2026 varies from the 21% statutory rate primarily due to the tax benefit from the low-income housing tax credit equity investment, tax-exempt interest income and tax-exempt income from the increase in the cash surrender value of BOLI.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis

1 unchanged sentence

This section discusses our condensed consolidated balance sheets and should be read together with our consolidated financial statements and the accompanying notes.

March 31, 2026 December 31, 2025 Change

June 30, 2026 December 31, 2025 Change

Cash and cash equivalents (1)

29 unchanged sentences

See respective subsections below for the primary drivers of change and further discussion on loans, allowance for credit losses, other earning assets, deposits and other borrowings.

The decrease in total assets as of March 31, 2026 from December 31, 2025 was primarily due to lower cash balances and declines in securities and loans balances from sales, maturities and paydowns.

Investment securities, net of the allowance for credit losses, were $1.77 billion as of March 31, 2026 as compared to $1.83 billion as of December 31, 2025, a 3% decrease, primarily driven by maturities and paydowns on both AFS and HTM securities.

The decrease in total assets as of June 30, 2026 from December 31, 2025 was primarily due to lower cash balances and declines in securities and loans balances from sales, maturities and paydowns.

Investment securities, net of the allowance for credit losses, were $1.72 billion as of June 30, 2026 as compared to $1.83 billion as of December 31, 2025, a 6% decrease, primarily driven by maturities, calls and paydowns on both AFS and HTM securities.

Cash flows from the securities portfolio are expected to be managed flexibly, including selective paydowns of brokered funding, while allowing for limited and opportunistic reinvestment in the securities portfolio.

Loans held for investment ("HFI") decreased by $341.9 million (from $7.3 billion as of December 31, 2025 to $6.9 billion as of March 31, 2026) while HFS loans decreased by $34.9 million.

Loans held for investment ("HFI") decreased by $658.0 million (from $7.3 billion as of December 31, 2025 to $6.6 billion as of June 30, 2026) while HFS loans decreased by $41.0 million.

Refer to the "Loan Portfolio", "Loan Maturity" and other loans-related sections below for further discussion on loans.

Total shareholders’ equity as of March 31, 2026 was $1.15 billion as compared to $1.13 billion as of December 31, 2025, a 1% increase.

Total shareholders’ equity as of June 30, 2026 was $1.15 billion as compared to $1.13 billion as of December 31, 2025, a 2% increase.

The increase in shareholders’ equity was primarily due to net income of $21.6 million, offset by cash dividends of $0.6 million, and $4.3 million in other comprehensive loss.

The ratio of common equity to total assets was 11.51% as of March 31, 2026 as compared to 10.78% as of December 31, 2025.

Book value per share was $37.56 as of March 31, 2026, a 0.81% increase from $37.26 as of December 31, 2025.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

The ratio of common equity to total assets was 11.91% as of June 30, 2026 as compared to 10.78% as of December 31, 2025.

Book value per share was $37.73 as of June 30, 2026, a 1.26% increase from $37.26 as of December 31, 2025.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis

In order to be considered well-capitalized, the Bank must have a common equity tier one capital ("CET1") risk based capital ratio of 6.5%, a Tier 1 risk-based ratio of 8.0%, a total risk-based capital ratio of 10.0% and a leverage ratio of 5.0%.

The Company and the Bank exceeded all these requirements and satisfy the capital conservation buffer of 2.5% of CET1 capital as of March 31, 2026.

The Company and the Bank exceeded all these requirements and satisfy the capital conservation buffer of 2.5% of CET1 capital as of June 30, 2026.

Failure to maintain the required capital conservation buffer would limit the ability of the Company and the Bank to pay dividends, repurchase shares or pay discretionary bonuses.

The Company's capital ratios remain substantially in excess of regulatory minimums and buffer requirements.

The total risk based capital ratio was 15.05% as of March 31, 2026, as compared to 14.33% as of December 31, 2025.

The CET1 risk based capital ratio was 13.80% as of March 31, 2026, as compared to 13.07% as of December 31, 2025.

The tier 1 risk based capital ratio was 13.80% as of March 31, 2026, as compared to 13.07% as of December 31, 2025.

The tier 1 leverage ratio was 10.63% as of March 31, 2026, as compared to 9.72% as of December 31, 2025.

The total risk based capital ratio was 15.84% as of June 30, 2026, as compared to 14.33% as of December 31, 2025.

The CET1 risk based capital ratio was 14.58% as of June 30, 2026, as compared to 13.07% as of December 31, 2025.

The tier 1 risk based capital ratio was 14.58% as of June 30, 2026, as compared to 13.07% as of December 31, 2025.

The tier 1 leverage ratio was 11.22% as of June 30, 2026, as compared to 9.72% as of December 31, 2025.

Refer to "Capital Resources and Adequacy" section below for further discussion on our capital.

2 unchanged sentences

We believe superior customer service, local decision making and accelerated turnaround time from application to closing are significant factors in growing the loan portfolio and meeting the lending needs in the markets served, while maintaining sound asset quality.

Loans held for investment were $6.9 billion as of March 31, 2026, as compared to $7.3 billion as of December 31, 2025, a decrease of $341.9 million or 4.7%.

During the period ended March 31, 2026, certain loans, primarily income producing commercial real estate loans, were reclassified from HFI to HFS loans.

Loans held for investment were $6.6 billion as of June 30, 2026, as compared to $7.3 billion as of December 31, 2025, a decrease of $658.0 million or 9.0%.

During the period ended June 30, 2026, certain loans, primarily income producing commercial real estate loans, were reclassified from HFI to HFS loans.

This reclassification resulted in net charge-offs of $36.7 million in order to bring the loans to the lower of cost or fair value of $238.5 million at the time of transfer.

During the first quarter of 2026, eight HFS loans were sold, resulting in a gain of $3.6 million.

There were $55.7 million in loans held for sale as of March 31, 2026, compared to $90.7 million as of December 31, 2025.

During the first half of 2026, 18 HFS loans were sold, resulting in a gain of $5.8 million.

There were $49.7 million in HFS loans as of June 30, 2026, compared to $90.7 million as of December 31, 2025.

The loan portfolio mix continues to evolve as the Bank has experienced a reduction in income producing commercial real estate loans and construction loans, offset by increases in commercial and owner-occupied commercial real estate loans.

2 unchanged sentences

Following origination, we continue to monitor our borrowers' business plans and assess primary and alternative sources for loan repayment and, if necessary, obtain collateral or additional collateral to mitigate credit loss in the event of default.

The Bank has a large portion of its loan portfolio related to real estate, with 78% consisting of commercial real estate and real estate construction loans as of March 31, 2026.

The Bank has a large portion of its loan portfolio related to real estate, with 76% consisting of commercial real estate and real estate construction loans as of June 30, 2026.

Non-owner occupied commercial real estate and commercial and residential construction represented 49% of the loan portfolio while the remaining 27% is represented by the "owner occupied - commercial real estate" and "construction - C&I (owner occupied)" loans.

The table below presents loans, net of amortized deferred fees and costs by major category.

March 31, 2026

June 30, 2026

December 31, 2025

12 unchanged sentences

$ 6,501,294 $ 7,120,855

(1) Excludes accrued interest receivable of $33.3 million and $35.9 million as of March 31, 2026 and December 31, 2025, respectively, which is recorded in other assets.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

(1) Excludes accrued interest receivable of $30.8 million and $35.9 million as of June 30, 2026 and December 31, 2025, respectively, which is recorded in other assets.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Loan Portfolio

11 unchanged sentences

Other Maryland Other Locations

As part of its lending strategy, the Company maintains a substantial portfolio of CRE loans, with $5.3 billion and $5.7 billion, or 76.3% and 78.3% of total loans, of amortized cost outstanding as of March 31, 2026 and December 31, 2025, respectively.

As part of its lending strategy, the Company maintains a substantial portfolio of CRE loans, with $4.9 billion and $5.7 billion, or 73.6% and 78.3% of total loans, of amortized cost outstanding as of June 30, 2026 and December 31, 2025, respectively.

Management meets regularly in order to monitor its existing CRE loan portfolio and to evaluate the pipeline for CRE loan investment.

Income producing CRE loans collateralized by office properties comprised approximately $573.5 million and $576.1 million, or 8.3% and 7.9% of total loans, as of March 31, 2026 and December 31, 2025, respectively.

Office loans within Washington, D.C., Washington's Maryland Suburbs and Northern Virginia were $543.5 million and $545.8 million, or 7.8% and 7.5% of total loans, as of March 31, 2026 and December 31, 2025, respectively.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Income producing CRE loans collateralized by office properties comprised approximately $533.2 million and $576.1 million, or 8.1% and 7.9% of total loans, as of June 30, 2026 and December 31, 2025, respectively.

Office loans within Washington, D.C., Washington's Maryland Suburbs and Northern Virginia were $503.4 million and $545.8 million, or 7.6% and 7.5% of total loans, as of June 30, 2026 and December 31, 2025, respectively.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Loan Portfolio

5 unchanged sentences

The table below summarizes the Company's income producing - commercial real estate loans, at principal balance, by collateral location and type.

As of March 31, 2026

As of June 30, 2026

Maryland Virginia

23 unchanged sentences

(1) Primarily includes commercial real estate loans with land, storage, and healthcare collateral.

As of March 31, 2026 and December 31, 2025, $94.8 million and $107.9 million, respectively, of principal of CRE loans collateralized by office properties were criticized or classified.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

As of June 30, 2026 and December 31, 2025, $77.1 million and $107.9 million, respectively, of principal of CRE loans collateralized by office properties were criticized or classified.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Loan Portfolio

The table below displays income producing - commercial real estate loans, at principal, that are criticized or classified by collateral type.

March 31, 2026

June 30, 2026

December 31, 2025

19 unchanged sentences

Demand loans, having no contractual maturity, and overdrafts are reported as due in one year or less.

As of March 31, 2026

As of June 30, 2026

(dollars in thousands) Total One Year or Less Over One Year to Five Years Over Five Years to Fifteen Years Over Fifteen Years

12 unchanged sentences

Total loans $ 6,622,435 $ 2,531,722 $ 2,889,475 $ 776,658 $ 424,580

(1) Income producing CRE office loans with total principal of $574.3 million and multifamily loans with total principal of $762.0 million as of March 31, 2026 are included within income producing - commercial real estate.

(1) Income producing CRE office loans with total principal of $533.9 million and multifamily loans with total principal of $692.8 million as of June 30, 2026 are included within income producing - commercial real estate.

The charts below represent their maturities schedules.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Loan Maturity

3 unchanged sentences

A full discussion of the accounting for ACL is contained in "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements and activity in the ACL is contained in "Note 4 – Loans and Allowance for Credit Losses" to the Consolidated Financial Statements.

Also, refer to "Critical Accounting Policies and Estimates" above for further discussion of the methodology which management employs to maintain an adequate ACL, as well as "Provision for Credit Losses" above for a discussion of the Company's calculation of the provision for credit losses during the three months ended March 31, 2026 and 2025.

The ACL for loans as of March 31, 2026 was $147.2 million, which reflected a decrease of $12.4 million from $159.6 million as of December 31, 2025.

The ACL represented 2.12% of total loans as of March 31, 2026 as compared to 2.19% as of December 31, 2025.

Management believes the ACL as of March 31, 2026 remains adequate to absorb estimated losses inherent in the portfolio following the loss recognition on high-risk loans concentrated in the commercial real estate office segment.

The losses recognized in the first quarter of 2026 were primarily due to transfer of certain loans to HFS and the incorporation of new information about borrower performance.

As of March 31, 2026, the allowance represented 114% of nonperforming loans as compared to 149% as of December 31, 2025.

The decrease in the ACL for loans at March 31, 2026 compared to December 31, 2025, was primarily due to a decrease in the office overlay and charge-offs of previously reserved amounts, partially offset by updated assumptions in the CECL model calculation.

As part of its comprehensive loan review process, the Bank’s Risk Committee evaluates loans which are past due 30 days or more.

The ACL for loans as of June 30, 2026 was $121.1 million, which reflected a decrease of $38.5 million from $159.6 million as of December 31, 2025.

The ACL represented 1.83% of total loans as of June 30, 2026 as compared to 2.19% as of December 31, 2025.

Management believes the ACL as of June 30, 2026 remains adequate to absorb estimated losses inherent in the portfolio following the loss recognition on high-risk loans concentrated in the commercial real estate segment.

The losses recognized in the first half of 2026 were primarily due to the transfer of certain loans to HFS, loss mitigation activities and the incorporation of new information about borrower performance.

As of June 30, 2026, the allowance represented 109% of nonperforming loans as compared to 149% as of December 31, 2025.

The decrease in the ACL for loans at June 30, 2026 compared to December 31, 2025, was primarily due to charge-offs of previously reserved amounts and a decrease in the office overlay, partially offset by updated assumptions in the CECL model calculation.

As part of its comprehensive loan review process, the Bank’s Risk Committee evaluates loans that are past due 30 days or more.

The Committee makes an assessment of the conditions and circumstances surrounding delinquent and potential problem loans.

1 unchanged sentence

The Credit Administration department analyzes the status of development and construction projects, including sales activities and utilization of interest reserves in order to assess potential increased levels of risk which may require additional reserves.

As of March 31, 2026 and December 31, 2025, the Company had $128.8 million and $106.9 million, respectively, of loans classified as nonperforming.

As of June 30, 2026 and December 31, 2025, the Company had $111.1 million and $106.9 million, respectively, of loans classified as nonperforming.

Please refer to the "Nonperforming Assets" section for a discussion of problem and potential problem assets.

Refer to "Note 1 – Summary of Significant Accounting Policies" to the Consolidated Financial Statements under the caption "Loans" for a discussion of the Company’s policy regarding individual evaluation of loans to record a provision for expected credit losses.

As of March 31, 2026 and December 31, 2025, loans rated special mention had an amortized cost of $290.8 million and $268.9 million, respectively, and loans rated substandard had an amortized cost of $447.6 million and $514.5 million, respectively.

The decrease in substandard loans was primarily attributable to transfer of certain loans to HFS, as previously discussed.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

As of June 30, 2026 and December 31, 2025, loans rated special mention had an amortized cost of $274.2 million and $268.9 million, respectively, and loans rated substandard had an amortized cost of $459.8 million and $514.5 million, respectively.

The decrease in substandard loans was primarily attributable to transfer of certain loans to HFS, as previously discussed, and the payoff in full of certain loans, partially offset by additional downgrades.

These downgrades were substantially from loans previously rated watch or special mention.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Allowance for Credit Losses

As of March 31, 2026, 99% and 69% of special mention and substandard loans, respectively, were current, with the remainder either 30 or more days past due or nonperforming.

As of June 30, 2026, 100% and 66% of special mention and substandard loans, respectively, were current, with the remainder either 30 or more days past due or nonperforming.

Based upon their status as potential problem loans, loans risk rated special mention or substandard receive heightened scrutiny.

6 unchanged sentences

The table below presents activity in the allowance for credit losses.

For the Three Months Ended March 31,

For the Six Months Ended June 30,

(dollars in thousands) 2026

4 unchanged sentences

Real estate mortgage - residential (80) —

Construction - commercial and residential (8,703) (10,703)

Other consumer — (35)

3 unchanged sentences

Owner occupied - commercial real estate 37 47

Construction - commercial and residential 6 —

Total recoveries 1,288 591

4 unchanged sentences

2.13 % 2.40 %

The allocation of the allowance as of March 31, 2026 includes the allowance for credit losses of $38.4 million against individually assessed loans of $128.8 million, as compared to allowance for credit losses of $19.6 million against individually assessed loans of $106.9 million as of December 31, 2025.

In addition, the Company's performing office coverage ratio, which calculates the ACL attributable to loans collateralized by performing office properties as a percentage of total loans, was 7.39% and 12.89% as of March 31, 2026 and December 31, 2025, respectively.

The allocation of the allowance as of June 30, 2026 includes the allowance for credit losses of $18.5 million against individually assessed loans of $111.1 million, as compared to allowance for credit losses of $19.6 million against individually assessed loans of $106.9 million as of December 31, 2025.

In addition, the Company's performing office coverage ratio, which calculates the ACL attributable to loans collateralized by performing office properties as a percentage of total loans, was 7.22% and 12.89% as of June 30, 2026 and December 31, 2025, respectively.

The allocation of the allowance to each category is not necessarily indicative of future losses or charge-offs and does not restrict the usage of the allowance to absorb losses in any category.

2 unchanged sentences

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

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Allowance for Credit Losses

The table below displays the allocation of the ACL by loan category and the percentage of allowance in each category.

March 31, 2026

June 30, 2026

December 31, 2025

10 unchanged sentences

The table below displays the allocation of the ACL specific to income producing - commercial real estate loans by collateral type.

March 31, 2026

June 30, 2026

December 31, 2025

14 unchanged sentences

The Company’s nonperforming assets are comprised of the amortized cost of nonaccrual HFI loans, which includes the nonperforming portion of loan modifications, and the carrying value of other real estate owned ("OREO").

Nonperforming assets totaled $130.8 million as of March 31, 2026, representing 1.31% of total assets, as compared to $109.0 million as of December 31, 2025, representing 1.04% of total assets.

The increase was primarily due to the migration of one previously substandard-rated CRE office relationship to nonaccrual status during the quarter, along with other credit facilities in the C&I and construction - commercial & residential categories, partly offset by charge offs of nonaccrual loans as well as by loans transferred to HFS.

As of March 31, 2026, nonaccrual HFS loans totaling $55.2 million were excluded from nonperforming assets since they are carried at the lower of cost or fair value and are not reflected in credit metrics.

Total nonperforming loans had an amortized cost of $128.8 million as of March 31, 2026, representing 1.86% of total loans, compared to $106.9 million as of December 31, 2025, representing 1.47% of total loans.

The Company had no accruing loans that were 90 days or more past due as of March 31, 2026 and December 31, 2025.

Nonperforming assets totaled $113.1 million as of June 30, 2026, representing 1.17% of total assets, as compared to $109.0 million as of December 31, 2025, representing 1.04% of total assets.

The increase was primarily due to the migration of previously substandard-rated CRE relationships to nonaccrual status, partly offset by charge offs of nonaccrual loans as well as by loans transferred to HFS.

As of June 30, 2026, nonaccrual HFS loans totaling $25.6 million were excluded from nonperforming assets since they are carried at the lower of cost or fair value and are not reflected in credit metrics.

Total nonperforming loans had an amortized cost of $111.1 million as of June 30, 2026, representing 1.68% of total loans, compared to $106.9 million as of December 31, 2025, representing 1.47% of total loans.

The Company had no accruing loans that were 90 days or more past due as of June 30, 2026 and December 31, 2025.

Management prioritizes remaining attentive to early signs of deterioration in borrowers’ financial conditions and to taking action designed to mitigate risk.

The Company places loans on nonaccrual status if it deems collection to be doubtful.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Nonperforming Assets

Under the CECL standard, loans that no longer share similar risk characteristics with their assigned segment—due to credit deterioration, increased collateral dependency, or other factors—are evaluated on an individual basis.

The Company individually assesses all nonaccrual loans and may also individually evaluate other loans or groups of loans when it is probable that not all contractual amounts will be collected.

The Company individually assesses all nonaccrual loans and may also individually evaluate other loans or groups of

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Nonperforming Assets

loans when it is probable that not all contractual amounts will be collected.

Expected credit losses on individually assessed loans are measured using either the fair value of collateral or discounted cash flow methods.

2 unchanged sentences

For loans that are not collateral dependent but have experienced structural concessions and are expected to continue making payments, expected credit losses are measured using discounted cash flows over the expected life of the loan at the original contractual interest rate, with adjustments for default risk.

Based on management’s analysis of portfolio risk, the Company believes its ACL, which totaled 2.12% of total loans as of March 31, 2026, is adequate to absorb expected credit losses at that date.

Based on management’s analysis of portfolio risk, the Company believes its ACL, which totaled 1.83% of total loans as of June 30, 2026, is adequate to absorb expected credit losses at that date.

Generally, collateral valuations associated with individually assessed loans are updated on not less than an annual basis.

4 unchanged sentences

In evaluating whether a new valuation is warranted, we consider a range of factors, including trends in local property markets, changes in capitalization rates and lease terms, the availability and terms of financing for comparable properties, and observable shifts in supply-demand dynamics.

We also assess property-specific factors such as deferred maintenance or improvements, zoning or regulatory changes, environmental matters, and other conditions that may materially influence value.

We also assess property-specific factors such as deferred maintenance or improvements, current lease and tenant information, zoning or regulatory changes, environmental matters, and other conditions that may materially influence value.

Passage of time alone does not drive our valuation decisions;

9 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.

During the three months ended March 31, 2026, the Bank modified 9 loans with a total amortized cost of $82.2 million as of March 31, 2026 (1.2% of the loan portfolio).

During the six months ended June 30, 2026, the Bank modified 27 loans with a total amortized cost of $70.0 million as of June 30, 2026 (1.1% of the loan portfolio).

These loans received extended loan terms of between approximately 3 to 32 months.

As of March 31, 2026, the payment status of 28 loans that were modified in the preceding twelve months, included 21 loans with a total amortized cost basis $189.6 million which were performing under their modified terms, 2 loan with a total amortized cost basis of $7.2 million which was 30-89 days past due and 5 loans with a total amortized cost basis of $18.8 million which were on nonaccrual status.

As of June 30, 2026, the payment status of 35 loans that were modified in the preceding twelve months, included 19 loans with a total amortized cost basis $115.9 million that were performing under their modified terms and 15 loans with a total amortized cost basis of $26.9 million that were on nonaccrual status.

Management, from time-to-time and in the ordinary course of business, implements renewals, modifications, extensions and/or changes in terms of loans to borrowers who have the ability to repay on reasonable market-based terms and are not experiencing financial difficulty.

(1) adverse weather conditions may create a short term cash flow issue for an otherwise profitable retail business which suggests a temporary interest only

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Nonperforming Assets

period on an amortizing loan;

(1) adverse weather conditions may create a short term cash flow issue for an otherwise profitable retail business which suggests a temporary interest only period on an amortizing loan;

(2) there may be delays in absorption on a real estate project which reasonably suggests extension of the loan maturity at market terms;

or (3) there may be maturing loans to borrowers with demonstrated repayment ability who are not in a position at the time of maturity to obtain alternate long-term financing.

Included in nonperforming assets as of March 31, 2026 was OREO of $2.1 million, consisting of three foreclosed properties, which was unchanged compared to OREO of $2.1 million, consisting of three foreclosed properties as of December 31, 2025.

or (3) there may be maturing loans to borrowers with

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Nonperforming Assets

demonstrated repayment ability who are not in a position at the time of maturity to obtain alternate long-term financing.

Included in nonperforming assets as of June 30, 2026 was OREO of $2.0 million, consisting of two foreclosed properties, which slightly decreased compared to OREO of $2.1 million, consisting of three foreclosed properties as of December 31, 2025.

OREO properties are carried at the lower of cost or at fair value less estimated costs to sell.

1 unchanged sentence

Generally, the Company obtains updated appraisals or evaluations where it has reason to believe, based upon market indications (such as comparable sales, a scenario in which the Company is considering legitimate offers below carrying value, broker indications and similar factors), that the current appraisal does not accurately reflect current value.

There were zero OREO sales in the first quarter of 2026 and two in the first quarter of 2025, generating proceeds of zero and $772 thousand, respectively.

There was one OREO sale in the first half of 2026 and two sales in the first half of 2025, generating proceeds of $360 thousand and $772 thousand, respectively.

The table below presents the amounts of nonperforming assets, including loans at amortized cost and OREO at the lower of cost or fair value less estimated costs to sell.

(dollars in thousands) March 31, 2026 December 31, 2025

(dollars in thousands) June 30, 2026 December 31, 2025

Nonaccrual Loans:

13 unchanged sentences

Ratio of nonperforming assets to total assets 1.17 % 1.04 %

(1) Excludes nonaccrual HFS loans totaling $55.2 million and $90.7 million as of March 31, 2026 and December 31, 2025, respectively.

(1) Excludes nonaccrual HFS loans totaling $25.6 million and $90.7 million as of June 30, 2026 and December 31, 2025, respectively.

Significant variation in the amount of nonperforming loans may occur from period to period because the amount of nonperforming loans depends largely on the condition of a relatively small number of individual credits and borrowers relative to the total loan portfolio.

3 unchanged sentences

The Company views BOLI as a long-term investment to help fund future benefit expenses.

As of March 31, 2026, the cash surrender value of BOLI totaled $339.8 million, compared to $335.2 million as of December 31, 2025.

As of June 30, 2026, the cash surrender value of BOLI totaled $345.5 million, compared to $335.2 million as of December 31, 2025.

The increase reflects net earnings on the BOLI policies during 2026.

3 unchanged sentences

To meet funding needs during periods of high loan demand and seasonal variations in core deposits, the Bank utilizes alternative funding sources such as brokered deposits, secured borrowings from the FHLB, and federal funds purchased lines of credit from correspondent banks.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Deposits and Other Borrowings

The table below presents the Bank’s deposit composition by balance and percentage.

March 31, 2026

June 30, 2026

December 31, 2025

5 unchanged sentences

Total $ 8,185,097 100 % $ 9,133,606 100 %

For the three months ended March 31, 2026, deposits decreased primarily due to a shift in funding mix and change in deposit composition which resulted in lower balances in savings and money market accounts and brokered time deposits.

No single depositor represented more than 10% of total deposits as of March 31, 2026.

The ten largest depositors not associated with brokered pass-through relationships represented approximately 17% of total deposits as of March 31, 2026.

For the six months ended June 30, 2026, deposits decreased primarily due to lower balances in savings and money market accounts and brokered time deposits and a shift in funding mix.

No single depositor represented more than 10% of total deposits as of June 30, 2026.

The ten largest depositors not associated with brokered pass-through relationships represented approximately 17% of total deposits as of June 30, 2026.

The Company maintains a significant deposit relationship with a third-party payments processor, whose business results in deposit inflows and outflows on an ongoing basis, which contributes to variations in period end balances compared to average deposit balances.

4 unchanged sentences

The sale of ICS deposits allows the Bank to moderate the fluctuation of deposit balances.

As of March 31, 2026, the Bank sold de minimis deposits through the IntraFi One-Way Sale network.

The total of reciprocal deposits as of March 31, 2026 was $1.6 billion (18% of total deposits) as compared to $1.7 billion (19% of total deposits) as of December 31, 2025.

As of June 30, 2026, the Bank sold de minimis deposits through the IntraFi One-Way Sale network.

The total of reciprocal deposits as of June 30, 2026 was $1.4 billion (17% of total deposits) as compared to $1.7 billion (19% of total deposits) as of December 31, 2025.

These sources are believed by the Company to represent a reliable and cost efficient alternative funding source for the Bank, but there can be no assurance that they will continue to be adequate or appropriate to meet our liquidity needs.

The Bank also is able to receive one way CDARS deposits and participates in IntraFi’s Insured Network Deposit Program ("IND").

The Bank had $269.9 million and $385.7 million of IND brokered deposits as of March 31, 2026 and December 31, 2025, respectively.

The Bank had $134.3 million and $385.7 million of IND brokered deposits as of June 30, 2026 and December 31, 2025, respectively.

However, to the extent that the condition or reputation of the Company or Bank deteriorates, or to the extent that there are significant changes in market interest rates which the Company and Bank do not elect to match, or if aggregate funding available to banks changes due to changes in the marketplace, we may experience an outflow of brokered deposits or difficulty with obtaining them in the future.

1 unchanged sentence

We have used brokered deposits and intend to continue to use brokered deposits as one of our funding sources.

As of March 31, 2026, total brokered deposits were $2.9 billion, or 34% of total deposits, compared to $3.3 billion, or 36% as of December 31, 2025.

These brokered deposits were comprised of savings, money market and other interest-bearing transaction accounts of $2.1 billion and $2.4 billion, and time deposits of $0.6 billion and $0.8 billion as of March 31, 2026 and December 31, 2025, respectively.

As of June 30, 2026, total brokered deposits were $2.6 billion, or 32% of total deposits, compared to $3.3 billion, or 36% as of December 31, 2025.

These brokered deposits were comprised of savings, money market and other interest-bearing transaction accounts of $1.9 billion and $2.4 billion, and time deposits of $0.7 billion and $0.9 billion as of June 30, 2026 and December 31, 2025, respectively.

The Company uses the Call Report definitions for regulatory reporting by the Bank to classify its deposits as brokered deposits.

As of March 31, 2026 and December 31, 2025, total deposits included estimated totals of $2.2 billion and $2.3 billion of uninsured deposits, which represented 26% and 25% of total deposits, respectively.

The Company had no outstanding balances under its federal funds lines of credit provided by correspondent banks (which are unsecured) as of March 31, 2026 and December 31, 2025.

The Company had no outstanding balances in FHLB advances as of March 31, 2026 and December 31, 2025.

Outstanding FHLB advances are secured by collateral consisting of specifically pledged marketable investment securities, a blanket lien on qualifying loans in the Bank’s commercial mortgage, residential mortgage and home equity loan portfolios.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Balance Sheet Analysis | Deposits and Other Borrowings

As of June 30, 2026 and December 31, 2025, total deposits included estimated totals of $2.27 billion and $2.25 billion of uninsured deposits, which represented 28% and 25% of total deposits, respectively.

The Company had no outstanding balances under its federal funds lines of credit provided by correspondent banks (which are unsecured) as of June 30, 2026 and December 31, 2025.

The Company had $100.0 million outstanding balances in FHLB advances as of June 30, 2026 and none as of December 31, 2025.

Outstanding FHLB advances are collateralized by specific loan assets pledged.

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").

As of March 31, 2026 and 2025, the carrying value of these 2029 Senior Notes were $76.5 million and $76.4 million, respectively, which reflected $1.15 million and $1.24 million, respectively, in unamortized deferred financing costs that are being amortized over the life of the 2029 Senior Notes.

As of June 30, 2026 and December 31, 2025, the carrying value of these 2029 Senior Notes were $76.6 million and $76.4 million, respectively, which reflected $1.1 million and $1.2 million, respectively, in unamortized deferred financing costs that are being amortized over the life of the 2029 Senior Notes.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Commitments and Contractual Obligations

Commitments and Contractual Obligations

The table below displays the loan commitments outstanding and lines and letters of credit.

(dollars in thousands) March 31, 2026

(dollars in thousands) June 30, 2026

December 31, 2025

9 unchanged sentences

In many instances, borrowers are required to meet performance milestones in order to draw on a commitment as is the case in construction loans, or to have a required level of collateral in order to draw on a commitment as is the case in asset based lending credit facilities.

As of March 31, 2026, there were no material unfunded loan commitments to borrowers whose existing loans were considered criticized and classified loans.

As of June 30, 2026, there were no material unfunded loan commitments to borrowers whose existing loans were considered criticized and classified loans.

Collateral obtained varies and may include certificates of deposit, accounts receivable, inventory, property and equipment, residential and CRE.

14 unchanged sentences

The Company believes it maintains sufficient primary and secondary sources of liquidity to fund its operations.

As of March 31, 2026, primary sources of liquidity were $2.3 billion, comprising interest-bearing deposits with other banks and other short-term investments and unencumbered securities.

Secondary sources of liquidity as of March 31, 2026 were $2.1 billion, which included the FHLB and FRB unused availability.

Approximately $400 million of additional HTM securities were unencumbered during the first quarter.

As of March 31, 2026, under the Company's liquidity formula, it had $4.34 billion of primary and secondary liquidity sources.

As of June 30, 2026, primary sources of liquidity were $2.2 billion, comprising interest-bearing deposits with other banks and other short-term investments and unencumbered securities.

Secondary sources of liquidity as of June 30, 2026 were $1.9 billion, which included the FHLB and FRB unused availability.

As of June 30, 2026, under the Company's liquidity formula, it had $4.16 billion of primary and secondary liquidity sources.

Management believes the amount is adequate to meet current and projected funding needs.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Liquidity Management

The table below summarizes the Company's primary and secondary sources of liquidity available.

(dollars in thousands) March 31, 2026 December 31, 2025

(dollars in thousands) June 30, 2026 December 31, 2025

Primary sources of liquidity available:

15 unchanged sentences

(1) Consists of cash and due from banks, interest-bearing deposits with banks, and other short-term investments.

(2) Reduced by $23.0 million as of March 31, 2026 and $12.4 million as of December 31, 2025, respectively, due to the issuance of letters of credit.

As of March 31, 2026, the Bank was eligible to draw advances from the FHLB up to $0.9 billion based on assets pledged as collateral to the FHLB, against which the Bank borrowed none as of March 31, 2026.

(2) Reduced by $173.4 million as of June 30, 2026 and $12.4 million as of December 31, 2025, respectively, due to borrowing and the issuance of letters of credit.

As of June 30, 2026, the Bank was eligible to draw advances from the FHLB up to $893.0 million based on assets pledged as collateral to the FHLB, against which the Bank borrowed $100.0 million as of June 30, 2026.

The Bank may enter into repurchase agreements with broker-dealers provided adequate collateral exists.

3 unchanged sentences

There can be no assurance, however, that these alternative sources of liquidity will continue to be available or will be sufficient to meet our ongoing liquidity needs.

The Bank's aggregate borrowing capacity as of March 31, 2026 was $3.8 billion, which consists of $0.9 billion borrowing capacity from FHLB, $1.2 billion borrowing capacity from the Federal Reserve's Discount Window as discussed above, and $1.7 billion of unencumbered securities available to pledge to the FHLB or Discount Window.

The Bank's aggregate borrowing capacity as of June 30, 2026 was $3.5 billion, which consists of $719.1 million borrowing capacity from FHLB, $1.2 billion borrowing capacity from the Federal Reserve's Discount Window as discussed above, and $1.6 billion of unencumbered securities available to pledge to the FHLB or Discount Window.

The loss of deposits, including through disintermediation, is one of the primary risks to liquidity.

3 unchanged sentences

Under those conditions, the Bank believes that it is well positioned to use other sources of funds such as FHLB borrowings, brokered deposits, repurchase agreements and federal funds lines of credit to offset a decline in deposits in the short run, but the use of such sources may negatively impact net interest margin and earnings.

The continuing elevated cost of funding has negatively impacted our net interest margin.

Funding costs remain elevated relative to periods preceding the current rate cycle;

however, they declined year over year and contributed to the increase in net interest margin.

There can be no assurance that the mix of sources of funds available to us at any particular time in the future will be adequate to meet our future liquidity needs.

5 unchanged sentences

The Asset Liability Committee ("ALCO") has adopted policy guidelines, which emphasize the importance of core deposits, adequate asset liquidity and a contingency funding plan.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Capital Resources and Adequacy

10 unchanged sentences

Although growth in that segment declined over the past 36 months and did not exceed the 50% threshold laid out in the regulatory guidance, we expect the heightened supervisory expectations to continue to apply to us given the federal banking regulators’ general focus on commercial real estate exposures at banks.

Construction, land and land development loans represented 75.7% of total capital as of March 31, 2026, which no longer exceeded the regulatory concentration threshold, compared to 92.1% as of December 31, 2025.

As of March 31, 2026 the Company no longer exceeded the total commercial real estate loans threshold as it represented 295.1% of total capital compared to 336.6% as of December 31, 2025.

Construction, land and land development loans represented 66.2% of total capital as of June 30, 2026, compared to 92.1% as of December 31, 2025.

As of June 30, 2026 the Company no longer exceeded the total commercial real estate loans threshold as those loans represented 267.6% of total capital, compared to 336.6% as of December 31, 2025.

Management has extensive experience in commercial real estate lending, and has implemented and continues to maintain heightened risk management procedures and strong underwriting criteria with respect to its commercial real estate portfolio.

6 unchanged sentences

Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements.

As of March 31, 2026, the capital position of the Company and its wholly owned subsidiary, the Bank, continue to exceed regulatory requirements and well-capitalized guidelines.

As of June 30, 2026, the capital position of the Company and its wholly owned subsidiary, the Bank, continue to exceed regulatory requirements and well-capitalized guidelines.

The primary indicators relied on by bank regulators in measuring the capital position are four ratios as follows:

10 unchanged sentences

If a bank is not well-capitalized, interest rate restrictions paid on deposits may apply.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Capital Resources and Adequacy

5 unchanged sentences

The Basel III Rules also increased risk weights for certain assets and off-balance-sheet exposures.

As of March 31, 2026, the Company and the Bank exceeded all these thresholds.

As of June 30, 2026, the Company and the Bank exceeded all these thresholds.

The ability of the Company to continue to grow is dependent on its earnings and those of the Bank, the ability to obtain additional funds for contribution to the Bank’s capital, through additional borrowings, through the sale of additional common stock or preferred stock or through the issuance of additional qualifying capital instruments, such as subordinated debt.

8 unchanged sentences

Amount Ratio Actual

As of March 31, 2026

As of June 30, 2026

CET1 capital (to risk weighted assets) $ 1,186,828 14.58 % $ 1,210,564 14.95 % 7.00 % 6.50 %

10 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.

The Company announced a regular quarterly cash dividend on April 22, 2026 of $0.01 per share to shareholders of record on May 4, 2026, paid on May 15, 2026.

The Company announced a regular quarterly cash dividend on July 22, 2026 of $0.01 per share to shareholders of record on August 6, 2026, payable on August 17, 2026.

The quarterly cash dividend amount was reduced to $0.01 in the fourth quarter of 2025 to preserve capital as the Company addresses asset quality matters.

4 unchanged sentences

Banking is generally a business of managing the maturity and repricing mismatch inherent in its asset and liability cash flows to provide stable net interest income growth consistent with the Company’s profit objectives.

The Company, through its ALCO and ongoing financial management practices, monitors the interest rate environment in which it operates and adjusts the rates and maturities of its assets and liabilities to remain competitive and to achieve its overall financial objectives subject to established risk limits.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Asset/Liability Management and Quantitative and Qualitative Disclosures about Market Risk

The loan portfolio decreased 4.7% during the first quarter of 2026.

The re-pricing duration on the loan portfolio was 9 months as of March 31, 2026 and 9 months as of December 31, 2025, with fixed-rate loans amounting to 31.4% and 33.4% of total loans as of March 31, 2026 and December 31, 2025, respectively.

Variable and adjustable rate loans comprised 68.6% and 66.6% of total loans as of March 31, 2026 and December 31, 2025, respectively.

The loan portfolio decreased 9.0% during the first half of 2026.

The re-pricing duration on the loan portfolio was 9 months as of June 30, 2026 and 9 months as of December 31, 2025, with fixed-rate loans amounting to 29.2% and 33.4% of total loans as of June 30, 2026 and December 31, 2025, respectively.

Variable and adjustable rate loans comprised 70.8% and 66.6% of total loans as of June 30, 2026 and December 31, 2025, respectively.

Variable rate loans are generally indexed to the Secured Overnight Funding Rate ("SOFR") or the Wall Street Journal prime interest rate, while adjustable rate loans are indexed primarily to the five year U.S.

1 unchanged sentence

The table below presents the percentage mix of securities in the investment portfolio.

March 31, 2026

June 30, 2026

December 31, 2025

3 unchanged sentences

Corporate bonds 6% 7%

treasury bonds —% —%

Total 100% 100%

2 unchanged sentences

Further, the Company has been principally collecting cash flows from the investment portfolio to reduce brokered deposits.

As of March 31, 2026, the amortized cost less allowance of the investment portfolio decreased by $59.9 million, or 3.1%, as compared to the balance as of December 31, 2025.

The duration of the deposit portfolio decreased to 13 months as of March 31, 2026 from 22 months as of December 31, 2025.

As of June 30, 2026, the amortized cost less allowance of the investment portfolio decreased by $110.4 million, or 5.8%, as compared to the balance as of December 31, 2025.

The duration of the deposit portfolio decreased to 13 months as of June 30, 2026 from 22 months as of December 31, 2025.

This decrease was attributable to a shift in deposit mix and modeling assumption updates.

The Company experienced a total deposit decrease of $542.1 million for the quarter ended March 31, 2026 as compared to a total loan decrease of $341.9 million for the same period.

The Company experienced a total deposit decrease of $948.5 million for the six months ended June 30, 2026 as compared to a total loan decrease of $658.0 million for the same period.

Refer to the "Deposits and Other Borrowings" section above for further discussion of deposits and borrowings.

The net unrealized loss before income tax on the AFS securities portfolio was $78.5 million and $78.4 million as of March 31, 2026 and December 31, 2025, respectively.

As of March 31, 2026, the net unrealized loss position represented 7.8% of the investment portfolio's book value.

The net unrealized loss before income tax on the AFS securities portfolio was $80.4 million and $78.4 million as of June 30, 2026 and December 31, 2025, respectively.

As of June 30, 2026, the net unrealized loss position represented 8.2% of the investment portfolio's book value.

Management relies on the use of models in order to measure the expected future impact on interest income of various interest rate environments, as described below.

6 unchanged sentences

Further discussion of the limitations of this analysis are listed below and included in Risk Factors in the Company's 2025 10-K, and in other periodic and current reports filed by the Company with the SEC.

Our rate risk modeling showed minimal net interest margin expansion in an increased interest rate environment while showing moderate net interest margin compression in a declining interest rate environment.

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Asset/Liability Management and Quantitative and Qualitative Disclosures about Market Risk

Our rate risk modeling showed moderate net interest margin expansion in an increased interest rate environment while showing moderate net interest margin compression in a declining interest rate environment.

The model's prediction in a rising rate environment is the result of increases in both interest income on variable and adjustable rate loans and interest expense on its deposit liabilities, based on our funding needs, market conditions and certain contractual obligations but with no changes in the mix of assets or liabilities or the spreads we are able to earn.

1 unchanged sentence

The model also assumes a stable interest rate environment after the programmed changes in the yields, which assumes repricing of assets and liabilities as scheduled in a stable environment, which may be quite different than real world conditions.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Asset/Liability Management and Quantitative and Qualitative Disclosures about Market Risk

For the analysis presented below, as of March 31, 2026, the change in interest rates on interest-bearing deposits was less than the change in market interest rates with a floor of 0 basis points.

For the analysis presented below, as of June 30, 2026, the change in interest rates on interest-bearing deposits was less than the change in market interest rates with a floor of 0 basis points.

The Bank also has deposits with contractual rate terms that mean these deposits will change 100 basis points for every 100 basis points change in market rates.

2 unchanged sentences

If this were to occur, the effects of a rising or declining interest rate environment may not be in accordance with management’s expectations.

As quantified in the table below, the Company’s analysis as of March 31, 2026 shows the effect on net interest income over the next 12 months, as well as the effect on the economic value of equity when interest rates are shocked up and down 100, 200, 300 and 400 basis points.

As of March 31, 2026, the repricing duration of (a) the investment portfolio was 3.7 years, (b) the loan portfolio 0.8 years, (c) the interest-bearing deposit portfolio was 0.8 years, and (d) the borrowed funds portfolio was 2.9 years.

As quantified in the table below, the Company’s analysis as of June 30, 2026 shows the effect on net interest income over the next 12 months, as well as the effect on the economic value of equity when interest rates are shocked up and down 100, 200, 300 and 400 basis points.

As of June 30, 2026, the repricing duration of (a) the investment portfolio was 3.6 years, (b) the loan portfolio 0.7 years, (c) the interest-bearing deposit portfolio was 0.8 years, and (d) the borrowed funds portfolio was 1.2 years.

The table below displays the result of the simulation analysis on the asset and liability balances.

As of March 31, 2026

As of June 30, 2026

Net Interest Income

14 unchanged sentences

(400) (14.8)% (25)% 7.9% (32)%

The decrease in 12-month net interest income of 2.8% given a 100 basis point decrease in market interest rates as of March 31, 2026 compared to a decrease of 0.7% for the same period in 2025.

In contrast to 2025, primarily due to modeling enhancements and balance sheet composition changes, our analysis shows that we will experience a decrease in our economic value of equity and an increase in net interest income with an increase in interest rates.

The changes in net interest income and the economic value of equity in higher, and lower, interest rate shock scenarios as of March 31, 2026 are not believed to be excessive and are within policy limits.

The changes in net interest income and the economic value of equity in higher, and lower, interest rate shock scenarios as of June 30, 2026 are not believed to be excessive and are within policy limits.

As part of the Company’s ongoing enhancement of the simulation analysis, the Company has been making updates to its model to incorporate, among other things, improvements to certain assumptions, as well as assumptions related to deposits.

The difference in the results of the simulation analysis between the first quarter of 2026 and the fourth quarter of 2025 is attributable to these model updates.

Certain shortcomings are inherent in the method of analysis presented in the foregoing table.

3 unchanged sentences

Further, in the event of a change in interest rates, prepayment and early withdrawal levels could deviate significantly from those assumed in calculating the tables.

Finally, the ability of many borrowers to service their debt may decrease in the event of a significant interest rate increase.

While an instantaneous parallel shift in interest rates was used in this analysis to provide an estimate of exposure under these scenarios, we believe that a non-immediate parallel shifts in interest rates would have a more modest impact.

Further, the earnings simulation model does not take into account factors such as future balance sheet growth, changes in product mix, changes in yield curve relationships, the various rate indexes do not move in parallel (e.g., SOFR, Fed Funds), hedging activities we might take and changing product spreads that could mitigate or exacerbate any potential beneficial or adverse impact of changes in interest rates.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Finally, the ability of many borrowers to service their debt may decrease in the event of a significant interest rate

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Asset/Liability Management and Quantitative and Qualitative Disclosures about Market Risk

While an instantaneous parallel shift in interest rates was used in this analysis to provide an estimate of exposure under these scenarios, we believe that a non-immediate parallel shift in interest rates would have a more modest impact.

Another key factor to consider is the behavior of our deposit portfolio.

21 unchanged sentences

Refer to "Note 6 – Derivatives and Hedging Activities" to the Consolidated Financial Statements for further discussion on the Company's derivative instruments and hedging activities.

Eagle Bancorp, Inc First Quarter 2026 Form 10-Q

Eagle Bancorp, Inc Second Quarter 2026 Form 10-Q

Management's Discussion and Analysis | Use of Non-GAAP Financial Measures

4 unchanged sentences

The table below reconciles the GAAP financial measures to the associated non-GAAP financial measures.

For the Three Months Ended March 31,

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

(dollars in thousands except per share data) 2026 2025 2026 2025

9 unchanged sentences

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

What changed 10-Q

Item 2. Management’s Discussion and Analysis