Eagle Bancorp, Inc.

Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Eagle Bancorp, Inc. |
Ticker: | Ticker: EGBN |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Eagle Bancorp, Inc. (“Eagle” or the “Company”) (NASDAQ:EGBN). The investigation concerns whether Eagle and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On April 23, 2025, Eagle issued a press release reporting its financial results for the first quarter of 2025. Among other items, Eagle reported net income of $1.7 million, or $0.06 per diluted share, compared to $15.3 million, or $0.50 per diluted share for the previous quarter. Eagle said that “[t]he $13.6 million decrease in net income from the prior quarter is primarily due to a $14.1 million increase in provision expense, a $5.1 million decline in net interest income, and a $0.9 million increase in noninterest expenses.” Eagle further stated that “[v]aluation risk in our office portfolio remains a concern and was the primary driver of the provision for credit losses.” On this news, the price of Eagle shares declined by $2.41 per share, from $21.19 per share on April 23, 2025, to close at $18.78 on April 24, 2025.
On April 23, 2025, Eagle issued a press release reporting its financial results for the first quarter of 2025. Among other items, Eagle reported net income of $1.7 million, or $0.06 per diluted share, compared to $15.3 million, or $0.50 per diluted share for the previous quarter. Eagle said that “[t]he $13.6 million decrease in net income from the prior quarter is primarily due to a $14.1 million increase in provision expense, a $5.1 million decline in net interest income, and a $0.9 million increase in noninterest expenses.” Eagle further stated that “[v]aluation risk in our office portfolio remains a concern and was the primary driver of the provision for credit losses.” On this news, the price of Eagle shares declined by $2.41 per share, from $21.19 per share on April 23, 2025, to close at $18.78 on April 24, 2025.