Eagle Bancorp reports Q1 EPS 42c vs. 34c last year

Net interest margin was 3.86% in the first quarter of 2023, compared to 4.10% in the preceding quarter, and 3.64% in the first quarter a year ago. "We delivered strong first quarter 2023 earnings, despite the current challenges facing the banking industry," said Laura Clark, President and CEO. "First quarter loan growth totaled $23.7 million and was well diversified across our loan categories. Additionally, our acquisition of First Community Bank, which was completed during the second quarter of 2022, is contributing positively to operating results. The transaction was valued at approximately $38.6 million and added approximately $370 million in assets, $321 million in deposits and $191 million in loans. While our outlook for the remainder of 2023 remains cautious, and we anticipate a leaner loan pipeline as recessionary concerns continue and deposit pricing pressures persist, we are well positioned for stable growth in the year ahead."