Eagle Bancorp reports Q4 EPS 47c, consensus 47c

Reports Q4 revenue $25.1M, consensus $18.25M. Eagle’s total assets increased 35.7% to $1.95B at December 31, 2022, compared to $1.44B a year ago, and increased 1.3% from $1.92B three months earlier. Book value per share was $19.79 at December 31, 2022, compared to $23.07 a year earlier and $18.94 three months earlier. Tangible book value per share, a non-GAAP financial measure calculated by dividing shareholders’ equity, less goodwill and core deposit intangible, by common shares outstanding, was $14.52 at December 31, 2022, compared to $19.74 a year earlier and $13.60 three months earlier.The Bank’s Tier 1 capital to adjusted total average assets was 9.82% as of December 31, 2022. "Eagle’s fourth quarter operating results reflect another quarter of growth in the loan portfolio and the resulting net interest margin expansion," said Laura Clark, President and CEO. "Fourth quarter loan growth totaled $41.5 million and was well diversified across our loan categories. Additionally, our fourth quarter net interest margin improved year-over-year as we took advantage of interest rate increases enacted by the Federal Reserve. One of the highlights of 2022 was the acquisition of First Community, which was completed during the second quarter of 2022 and has already contributed nicely to operating results. I am excited about the opportunities this new market provides for continued long-term growth."