Eagle Bancorp reports Q4 EPS 67c, consensus 68c

Net interest income was $73.0M for the fourth quarter 2023, compared to $70.7 Mfor the prior quarter. The increase in net interest income from the prior quarter was primarily driven by an increase in earning assets as well as higher yields on loans and investments.Susan G. Riel, President and Chief Executive Officer of the Company, commented, “EagleBank’s franchise showed resiliency throughout 2023 by exhibiting continued strength with strong capital levels, strong operating efficiency, and commitment to our customers through a dynamic and uncertain operating environment. The Company’s 2023 performance reflected a normalization of asset quality metrics and elevated funding costs from higher interest rates. The team’s efforts positively impacted our momentum in the face of these challenges. Deposits ended higher than the comparable year-ago period for the first time in six quarters, and net interest income increased quarter over quarter for the first time in four quarters.”