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Jun 30, 2024
Eagle Bancorp Q2 2024 Earnings Report
Announced second quarter 2024 results, with a net loss due to a goodwill impairment, but operating results improved from the first quarter due to a normalization of charge-offs.
Key Takeaways
Eagle Bancorp, Inc. reported a net loss of $83.8 million, or $2.78 per share, for Q2 2024, which included a $104.2 million goodwill impairment. Excluding the impairment, operating net income was $20.4 million, or $0.67 per diluted share. The company's Tier 1 capital leverage ratio increased to 10.6%.
The ACL as a percentage of total held for investment loans was 1.33% at quarter-end, up from 1.25% at the prior quarter-end.
Nonperforming assets increased to 0.88% of total assets as of June 30, 2024, compared to 0.79% as of March 31, 2024.
Net charge-offs for the second quarter were 0.11% compared to 1.07% for the first quarter 2024.
The net interest margin (NIM) declined slightly to 2.40% for the second quarter 2024, compared to 2.43% for the prior quarter.
Forward Guidance
The press release does not contain any forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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