Eagle Bancorp Q3 EPS $0.79 as Provision Collapses to $2.8M; NPAs Jump on One Multifamily Loan
EGBN sits 90% above its 52-week low of $15.03.
Summary
Eagle Bancorp earned $24.2 million ($0.79 per share) in Q3 2026 versus $6.9 million in Q2, driven almost entirely by an $18.6 million drop in the credit provision rather than revenue growth. Non-performing assets rose to $166.0 million on a single multifamily loan, while capital (CET1 14.99%) and liquidity remain strong.
Key Events · Earnings and Guidance · EGBN
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Q3 Net Income $24.2M on Lower Provision
Net income of $24.2 million, or $0.79 per diluted share, versus $6.9 million ($0.23) in Q2 2026. The $17.3 million increase was driven by an $18.6 million lower provision for credit losses ($2.8 million vs $21.4 million).
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Pre-Provision Revenue Declines to $23.8M
PPNR fell to $23.8 million from $29.1 million as net interest income slipped $1.0 million and noninterest expense rose $3.1 million, including $1.5 million of accelerated stock awards and $1.3 million of annual incentives.
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NPAs Rise to $166.0M on One Loan
Non-performing assets increased $52.9 million to $166.0 million, or 1.75% of total assets, from $113.1 million (1.17%). A single multifamily loan accounted for 76% of the $73.7 million of inflows.
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Credit Trends Improve Elsewhere
Net charge-offs fell to $4.2 million from $47.9 million, criticized and classified loans dropped to $648.4 million from $759.6 million, and NIM expanded 8 bps to 2.60% as cost of funds fell to 2.75%.
Analysis · EGBN · Finance
Net income jumped to $24.2 million ($0.79 per diluted share) from $6.9 million ($0.23) in Q2, but almost all of the swing came from the credit line: the provision fell to $2.8 million from $21.4 million, not from revenue growth. Pre-provision net revenue actually fell to $23.8 million from $29.1 million as net interest income slipped $1.0 million and noninterest expense rose $3.1 million on $1.5 million of accelerated stock awards and $1.3 million of annual incentives. The offsetting worry is asset quality: non-performing assets rose $52.9 million to $166.0 million, or 1.75% of assets, with 76% of the $73.7 million of inflows coming from a single multifamily loan in Prince George's County. Management was explicit that asset-quality work is not finished. The positives are real — net charge-offs fell to $4.2 million from $47.9 million, criticized and classified loans dropped to $648.4 million from $759.6 million, NIM expanded 8 bps to 2.60% on cheaper funding, and CET1 stands at 14.99%. The company also issued Q4 2026 and FY2027 guidance, projecting NIM of 2.65%-2.78% in Q4 and noninterest expense of $41.6 million-$43.8 million, and declared a $0.01 quarterly dividend payable November 17, 2026.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.4% of the 1563 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, EGBN was trading at $28.53 on NASDAQ in the Finance sector, with a market capitalization of approximately $869.7M. The 52-week trading range was $15.03 to $29.29. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.