Eagle Bancorp Q2 net income falls on higher credit loss provision
EGBN•Overview
- US community bank's Q2 net income fell and missed analyst expectations
- Net interest income and noninterest income declined from prior quarter
- Company declared a $0.01 per share quarterly dividend
Outlook and result drivers
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Company did not provide specific guidance for the current qtr or full yr
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CREDIT LOSS PROVISION - Higher provision for credit losses, mainly from problem asset resolution, weighed on earnings
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FUNDING MIX - Net interest margin expanded as lower-cost funding reduced reliance on brokered deposits, per CFO Eric Newell
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EXPENSE REDUCTION - Noninterest expense decreased, mainly due to lower FDIC insurance expense and reduced loan disposition costs
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Net Income | Miss |
