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• Deposit Accounts: They offer a range of deposit accounts, including checking, savings, money market, and certificates of deposit, for individuals and businesses to manage their funds.
• Commercial Loans: The bank provides various commercial loans, including C&I loans, commercial real estate loans, and construction and development financing, to support business growth and projects.
• Residential Real Estate Loans: They offer residential real estate loans, such as mortgages and home equity lines of credit, for individual home purchases and equity utilization.
• Treasury Management Services: For businesses, they provide treasury management services like cash management, merchant services, and electronic payment solutions to streamline financial operations.

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Eagle Bancorp (symbol: EGBN) primarily serves businesses and professionals in the Greater Washington D.C. metropolitan area. Due to the nature of the banking industry, which involves a large and diverse customer base, and strict customer confidentiality, Eagle Bancorp does not disclose the names of its individual business or consumer customers, nor does it typically have "major customers" in the traditional sense of a small number of large buyers that dominate its revenue. Instead, its customer base is diversified across several key categories.

The primary categories of customers served by Eagle Bancorp include:

• Commercial Businesses (Small to Medium-sized Enterprises - SMBs): This category includes a broad range of operating businesses across various industries (e.g., professional services, retail, technology, non-profits) that require commercial and industrial loans (for working capital, equipment, expansion), business checking and savings accounts, treasury management services, and other business banking solutions.
• Commercial Real Estate (CRE) Investors and Developers: A significant focus for Eagle Bancorp, these customers include individuals, partnerships, and companies involved in acquiring, developing, and managing commercial properties (e.g., office, retail, multi-family, industrial) within their operating markets. They are major borrowers for construction loans, acquisition loans, and refinancing.
• High-Net-Worth Individuals and Professionals: Often comprising business owners, executives, or self-employed professionals who may also engage in business banking with Eagle Bancorp, this segment utilizes the bank for private banking services, wealth management, jumbo mortgages, personal loans, and deposits, frequently leveraging existing business relationships.

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• KPMG LLP
• Visa Inc. (V)
• Mastercard Incorporated (MA)

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Susan G. Riel, President & Chief Executive Officer

Ms. Riel has been with EagleBank since 1998 and served as Executive Vice President and Chief Operating Officer prior to being named President and Chief Executive Officer in 2019. She has nearly four decades of experience in the commercial banking industry. Previously, Ms. Riel served as Executive Vice President and Chief Operating Officer of Columbia First Bank, FSB from 1989 until that institution's acquisition by First Union Bancorp in 1995. Ms. Riel is scheduled to retire as President and CEO in 2026.

Charles D. Levingston, Executive Vice President and Chief Financial Officer

Mr. Levingston is Executive Vice President and Chief Financial Officer of EagleBank, and previously served as Executive Vice President and Chief Financial Officer of Eagle Bancorp, Inc. since April 2017. He joined Eagle Bancorp after leading the finance function at two prior institutions and has over 20 years of financial institution experience. A Certified Public Accountant, he served in various financial and senior management roles at the Bank prior to his current role.

Kevin P. Geoghegan, Executive Vice President and Chief Credit Officer

Mr. Geoghegan has been the Executive Vice President and Chief Credit Officer of EagleBank since September 2024. Prior to this, he served as the Chief Credit Officer and a member of the executive management team at First Midwest Bank, which merged into Old National Bank in 2022. He also served in various credit risk leadership positions at PNC Financial Services Group and National City Bank.

Paul Saltzman, Executive Vice President and Chief Legal Officer

Mr. Saltzman has been an Executive Vice President and Chief Legal Officer of Eagle Bancorp and EagleBank since January 2020. He serves as a Partner in the Banking and Financial Institutions Advisory Practice of White & Case since 2018. Prior to that, he served as Vice Chairman of Deutsche Bank between 2015 and 2018 and as General Counsel at The Clearing House Payments Company between 2010 and 2015.

Hetal Desai, Executive Vice President and Chief Risk Officer

Ms. Desai has been the Chief Risk Officer and Executive Vice President of EagleBank since July 2024. With over 30 years of experience, she was previously the Chief Risk Officer and a member of the executive management team at Equity Bank. She has also held senior roles at JPMorgan Chase, State Street, and Santander.

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The key risks to Eagle Bancorp (EGBN) are primarily centered around its commercial real estate (CRE) loan portfolio, particularly its exposure to office properties, which has led to significant financial distress and regulatory challenges.

1. Commercial Real Estate Loan Portfolio and Asset Quality: A major risk for Eagle Bancorp stems from its substantial exposure to commercial real estate loans, especially those related to office properties. The company experienced an 89% drop in net income in Q1 2025, largely due to deepening financial vulnerabilities within this portfolio. A significant surge of $14.1 million in provision expenses for credit losses was primarily driven by valuation risks in its office loan portfolio. This valuation risk continues to be a primary concern and a key driver for provisions for credit losses. The company's largest loan exposure, approximately 48% of its total loan portfolio or $3.77 billion, is to income-producing commercial real estate loans. This concentration has led to poor asset quality, weak financial metrics, and a substantial increase in "office-related reserves and anticipated exit strategies related to them," contributing to a massive change in its provision for credit losses. The firm also reported $875.4 million in substandard and special-mention loans as of June 30, 2025, highlighting the extent of its credit-portfolio weakness.
2. Regulatory Scrutiny and Securities Fraud Investigations: Eagle Bancorp is currently facing significant regulatory scrutiny and multiple securities fraud investigations. Several law firms are probing the company for potential violations of federal securities laws, alleging that Eagle Bancorp may have made materially false or misleading statements to investors. Key areas of focus include inadequate disclosures regarding valuation risks in its office portfolio and forward-looking statements that appear inconsistent with the bank's deteriorating financial health. These investigations and potential legal actions pose substantial legal and reputational risks, with the potential for lasting implications for investors and the company's future.
3. Interest Rate Fluctuations and Profitability Challenges: Like many financial institutions, Eagle Bancorp is exposed to risks associated with interest rate fluctuations. The company has experienced margin pressure, with its Net Interest Margin (NIM) dipping to 2.28% in Q1 2025 from 2.29% in Q4 2024, partly due to shifts in its deposit mix. Additionally, the bank reported a $5.1 million drop in net interest income. Overall, Eagle Bancorp has shown profitability challenges, indicated by a net margin of -10.27%, and its profitability metrics, such as return on assets and equity, are well below industry standards, reflecting fundamental business problems.

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The sustained structural shift in demand for commercial real estate, particularly office space, driven by the widespread adoption of remote and hybrid work models, poses an emerging threat. As a bank with significant exposure to commercial real estate lending in the Washington D.C. metropolitan area, Eagle Bancorp faces potential risks from ongoing reductions in office occupancy, declining property valuations, and an increased likelihood of defaults on these loans. The full long-term impact of these changes on asset quality and profitability is still unfolding.

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Eagle Bancorp (EGBN) operates primarily in the Washington, D.C. metropolitan area, including Maryland and Northern Virginia. The addressable market for their main products and services within this region can be assessed through key banking metrics.

The total deposits in the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area (MSA) stood at approximately $314.719 billion as of the second quarter of 2025. This figure represents the collective deposits held by 71 institutions within that specific metropolitan area, encompassing a significant portion of Eagle Bancorp's core operating region for both retail and commercial banking services.

For commercial banking services, specifically in Maryland, the market size for the Commercial Banking industry is estimated to be approximately $13.7 billion in 2025. This market size pertains to commercial lending, treasury management, and other business-focused financial services offered by banks in Maryland.

While specific market sizes for individual retail banking products (such as checking accounts or consumer loans) are not readily available for the precise multi-state region of Eagle Bancorp's operations, the overall deposit figures for the Washington D.C. MSA serve as a broader indicator of the potential market for retail and commercial deposit-taking activities in their primary service area.

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Eagle Bancorp (EGBN) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives:

1. Net Interest Income (NII) Growth: Management anticipates growth in net interest income in 2026. This growth is projected to be fueled by improved deposit pricing, reduced average borrowings, and the upward repricing of cash flows from the investment portfolio.
2. Expansion and Diversification of Deposit and Loan Portfolios: A high priority for Eagle Bancorp is to advance its growth strategy by expanding the diversity of its deposit and loan portfolio. This includes efforts to leverage its branch network to capture greater market share in deposit-rich areas and to attract funding, as demonstrated by deposit growth in Q1 2025.
3. Growth in Commercial and Industrial (C&I) Lending: The bank has reported encouraging results from its commercial lending platform, with C&I loans increasing significantly in Q1 and Q3 2025, constituting a majority of loan originations for those quarters. New hires in the C&I team are contributing to market penetration and are expected to enhance franchise value.
4. Introduction and Expansion of Digital Banking Products and Services: Eagle Bancorp is focused on developing growth opportunities by providing new products and services, including an emphasis on digital channels. A new digital deposit-gathering channel was introduced in 2023, with plans to add more products and services to expand the bank's reach in 2024 and beyond.
5. Improvement in Credit Quality and Asset Management: While not a direct revenue generator, the company's commitment to completing its "credit cleanup" and proactively addressing potential credit issues, particularly within its commercial real estate portfolio, is expected to lead to improved earnings performance and drive shareholder value. Management expressed confidence in their credit risk management and anticipates a potential decline in criticized and classified loans in 2026, which would foster a healthier environment for sustained revenue growth.

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Share Repurchases

• In Q3 2020, Eagle Bancorp repurchased 458,069 shares at an average price of $37.72.
• A new share repurchase program was approved on December 17, 2020, authorizing the buyback of 1,588,848 shares (approximately 5% of outstanding shares), effective January 1, 2021, and set to expire on December 31, 2021.
• The suspension of the company's share repurchase program, initially paused in Q1 2020, was lifted on September 29, 2020.

Capital Expenditures

• Eagle Bancorp's capital expenditures growth is forecasted at 156.5%.