Eagle Bancorp net worth and financial performance in 2024 reveal crucial insights into the bank’s revenue growth and market position.
With a focus on interest income, loan portfolio expansion, and asset management, Eagle Bancorp continues to solidify its financial standing. Let’s dive deeper into the factors that drive the bank’s success, presented by Ando Money.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Eagle Bancorp |
| Full Name | Eagle Bancorp, Inc. |
| Traded as | EGBN (NASDAQ) |
| ISIN | US2689481065 |
| Founded | 1998 |
| Founders | Ronald D. Paul, Norman R. Pozez |
| Country/Territory | United States |
| Headquarters | Bethesda, Maryland, U.S. |
| Chief Executive Officer | Susan G. Riel |
| Number of Employees | 500+ |
| Market Cap | $0.63 Billion |
| Total Assets | $11.7 Billion (as of 2024) |
| Total Equity | $1.3 Billion (as of 2024) |
| Revenue | N/A |
| Net Income | $29.6 Million (Q2 2024) |
What is the Net Worth/ Market Cap Of Eagle Bancorp in 2024?
As of September 2024, Eagle Bancorp has a market capitalization of $0.63 billion. This reflects its overall valuation based on the current stock price multiplied by outstanding shares.
Eagle Bancorp’s market cap places it in the mid-size category of U.S. banks, competing with similar institutions in terms of size and influence.
In comparison to other banks, its market cap positions it among regional players that maintain a stable presence in their respective markets.
Here’s a comparison with other banks:
- PacWest Bancorp
- SVB Financial
- Synovus Financial Corp.
- Zions Bancorporation
- Bank OZK
- Valley National Bancorp
- Citizens Financial Group
For a broader perspective on the largest financial institutions, check out our list of the biggest banks.
Financial Performance Overview
Key Financial Indicators Driving Revenue Growth
Eagle Bancorp’s financial strength lies in its consistent revenue growth, driven by several critical factors.
The company’s net income for the second quarter of 2024 was $29.6 million, demonstrating its ability to sustain profitability even amid economic challenges.
This growth is largely supported by strong demand in commercial and real estate lending, which remains a key revenue contributor for the bank.
Despite rising funding costs affecting the overall net interest margin, the bank has shown resilience.
Eagle Bancorp’s interest income continues to be a dominant source of revenue, although the bank reported a slight decline in its net interest margin (2.93%).
This drop was primarily due to increased borrowing costs, yet the bank’s efficient management of its loan portfolio allowed it to sustain profitability.
Interest Income as a Core Revenue Driver
The interest income generated by Eagle Bancorp is an essential pillar in its financial structure. As a bank primarily focused on lending, interest income makes up a significant portion of its earnings.
During the second quarter of 2024, the loan portfolio expanded, which directly boosted interest income. In particular, loans to businesses and real estate borrowers have been key areas of growth. As a result, the bank’s overall revenue base remained strong despite pressures from rising interest rates.
Loan Portfolio Expansion and Revenue Impact
Eagle Bancorp’s loan growth has played a pivotal role in expanding its revenue base. The demand for commercial loans has been robust, especially in the real estate sector.
With favorable market conditions, Eagle Bancorp has successfully increased its loan originations, further driving revenue growth. The bank has maintained a low default rate on these loans, which has helped preserve its profit margins.
Non-Interest Income Boosts Profitability
In addition to interest income, non-interest income has also contributed significantly to the bank’s financial performance.
This income primarily comes from fees related to advisory services, loan processing, and other financial services provided by the bank.
While not as substantial as interest income, these fees add a stable source of revenue that supports the overall financial health of the company.
Cost Management and Operational Efficiency
Efficient cost management has been a key aspect of Eagle Bancorp’s operational strategy.
The bank has implemented various cost-cutting measures to ensure that its operating expenses remain low, which has had a positive effect on net income.
By keeping its cost-to-income ratio in check, Eagle Bancorp can allocate more of its earnings to growth initiatives, while still ensuring a competitive return for its shareholders.
Deposits: A Foundation for Stability
Deposits form the foundation of Eagle Bancorp’s financial stability. The bank has seen steady growth in customer deposits, which serve as a critical source of funding for its lending activities.
These deposits not only provide the bank with the liquidity needed to offer loans but also enable it to generate consistent interest income.
By retaining and growing its deposit base, Eagle Bancorp ensures that it has a solid financial footing to support its loan operations.
Asset Quality and Financial Risk Management
Maintaining high asset quality is crucial for Eagle Bancorp’s long-term profitability. The bank has managed to keep its non-performing assets at low levels, which reduces the need for large provisions against potential loan losses.
This proactive approach to risk management has helped the bank protect its revenue from being impacted by defaults or other credit issues.
Moreover, by ensuring that its loan portfolio remains strong, the bank can continue to grow without taking on excessive financial risk.
FAQs about Eagle Bancorp
Who is the CEO of the Eagle Bancorp?
The CEO of the bank is Susan G. Riel. She leads with a focus on growth and stability.
What are the bank’s main revenue sources?
The bank earns primarily from interest income on its loans. It also generates revenue through non-interest income, like fees and advisory services.
How does the Eagle Bancorp manage risk?
It implements strong risk management practices. It monitors loans closely and uses strategies to protect against market risks.
How many employees does the bank have?
The bank has over 500 employees, who contribute to its operations and growth.
Where is the bank headquartered?
The bank’s headquarters is in Bethesda, Maryland, United States.
What type of loans does the bank offer?
The bank offers commercial and real estate loans, which are core to its business.
How does the bank maintain profitability?
It maintains profitability by diversifying revenue, keeping costs low, and managing risk effectively. These strategies drive sustainable growth.
Conclusion
Eagle Bancorp’s strong financial performance highlights its importance in the banking sector. Share your thoughts, spread the word, or explore more of our content on andomoney.com.
For more insights, take a look at the leading banks in the US here. Stay tuned for more updates!
