Eagle Bancorp, Inc. has recently released its 10-Q report, providing insights into its financial performance and operations. The company operates as the bank holding company for EagleBank, offering a wide range of commercial and consumer banking services primarily in the United States. In addition to lending products, the company provides online and mobile banking services, deposit services, insurance products, and treasury management services. Eagle Bancorp, Inc. serves sole proprietors, small and medium-sized businesses, partnerships, corporations, non-profit organizations, and investors.
The 10-Q report includes a detailed discussion of the company's financial condition and results of operations. It highlights Eagle Bancorp's primary subsidiary, EagleBank, along with its other active subsidiaries, including Bethesda Leasing, LLC, Eagle Insurance Services, LLC, and Landroval Municipal Finance, Inc. The report also emphasizes the company's growth-oriented approach and its focus on providing personalized service to customers. Eagle Bancorp, Inc. currently operates twelve branch offices and four lending offices, catering to both business and professional clients as well as individual consumers within its market area.
One of the critical aspects covered in the report is the company's management of credit losses and reserves for unfunded commitments. The report discusses the allowance for credit losses (ACL) on loans, which is based on management's assessment of current expected credit losses in the portfolio. It also details the estimation of future draws and expected loss rates on those draws, emphasizing the company's approach to monitoring the adequacy of the ACL. Moreover, the report addresses the evaluation of goodwill for impairment, outlining the two-step process involving qualitative and quantitative assessments to determine potential impairment of goodwill.
Today the company's shares have moved 2.1% to a price of $20.2. Check out the company's full 10-Q submission here.
