Slide 1: 1st Quarter 2025 Earnings Presentation
1st Quarter 2025 Earnings Presentation April 23, 2025 Scan for digital version EagleBankCorp.com
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and
Slide 3: Attractive Washington DC Footprint
Attractive Washington DC Footprint One-of-a-kind Market The Washington DC metro area represents a robust and diverse economy, supported by a dynamic mix of public and private sector activity. The region’s foundation includes globally recognized educational institutions, a thriving private sector wit
Slide 4: Eagle at a Glance
Eagle at a Glance Tangible Total Assets Total Loans Total Deposits Common Equity $ 11.3 7.9 9.3 1.2 $ $ $ billion billion billion billion 1 Shares Outstanding Market Capitalization Tangible Book Value (at close March 31, 2025) (at close April 22, 2025) per Common Share 2 30,368,843 $633 million 40.9
Slide 5: Eagle is an Attractive Investment Opportunity
Eagle is an Attractive Investment Opportunity • Best-in-Class Capital Levels o CET1 Ratio = 14.61% Top quartile of all bank holding companies with $10 billion in assets or more o TCE / TA¹ = 11.00% o ACL / Gross Loans = 1.63% and ACL / Performing Office Loans = 5.78% • Long-term Strategy to Improve
Slide 6: Strategies to Improve Profitability
Strategies to Improve Profitability Improving Return on Average Assets • Grow and deepen relationship deposits with a focus on franchise enhancement; allowing for reduction of high-cost wholesale and non-core funding • Maintain pricing discipline on loan originations to promote revenue growth • Cont
Slide 7: Eagle – Capital Levels vs. Peers
Eagle – Capital Levels vs. Peers Strong Capital • Capital ratios are high relative to peers • Excess CET1 (over 9%) plus reserves provides a superior level of coverage when measured against our peers Tangible Common CET1 Ratio Excess CET1 + ACL / Total Equity / Tangible Loans Assets1 Peer 1 17.1% Pe
Slide 8: Eagle – Liquidity Position vs. Peers
Eagle – Liquidity Position vs. Peers Available Liquidity Cash Equivalents / Cash Equivalents + AFS Cash and cash equivalents are high Total Deposits Securities / Total Deposits relative to peers. Peer 1 Peer 1 28.3% 11.0% Cash equivalents combined with AFS Peer 2 10.9% Peer 2 27.4% Peer 3 23.0% secu
Slide 9: Performance Measures
Performance Measures Operating Return on Average Tangible Operating Return on Average Common Equity1 Assets1 7.04% 7.22% 0.70% 0.66% 4.94% 0.48% 0.55% 0.06% -0.11% -0.01% 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 Operating Efficiency Ratio1 Tangible Common 61.5% Equity/Ta
Slide 10: Net Interest Income & Margin
Net Interest Income Net Interest Income & Margin $100.0 9.00% NII Decrease and NIM Decline $80.0 $74.7 $71.4 $71.8 $70.8 7.00% $65.6 Net Interest Income $60.0 5.00% (in millions) • Interest income decreased $14.5 million due to 2.43% 2.40% 2.37% 2.29% 2.28% $40.0 3.00% two fewer days in the quarter,
Slide 11: Net Income – Summary
Net Income – Summary Net Income Drivers Net interest income Net interest income down $5.2 million, primarily driven by two fewer days in the quarter, lower average interest-bearing cash balances, lower rates on loans, and a higher average mix of interest- bearing deposits. Provision for Credit Losse
Slide 12: 2025 Outlook
2025 Outlook Key Drivers 1Q 2025 Actual Prior 2025 Outlook Current 2025 Outlook1 Balance Sheet Average deposits $9,883 million 1-4% increase 1-4% increase Average loans $7,933 million 2-5% increase 2-5% increase Average earning assets $11,640 million Flat Flat Income Statement Net interest margin 2.
Slide 13: Deposit Mix and Trend
Deposit Mix and Trend Total Period End Deposits increased $776 million Year-over-Year CDs Savings & money market Interest bearing transaction Noninterest bearing Cost Analysis 5.75% 5.07% 5.03% 5.28% 4.75% 4.37% 4.45% 4.47% 4.20% 4.07% 3.36% 3.35% 3.40% 3.28% 3.17% 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1
Slide 14: Funding & Liquidity
Funding & Liquidity Deposits & Borrowings $10,208 $9,967 $9,889 $9,730 $9,876 6.1% Funding & Liquidity Summary 16.7% 6.2% 17.0% 13.6% Deposits in millions Period end deposits were up $164 million for the 83.3% 83.0% 86.4% 93.8% 93.9% quarter, attributable to an increase in time deposit accounts. The
Slide 15: Office Loan Portfolio Detail
Office Loan Portfolio Detail Inc Producing Office Holdings Declined $50 million Year-over-Year Excess CET1+ACL/ As of March 31, 2025 Non-Owner Occupied Office Loans Peer 1 148% Peer 2 123% Peer 3 108% Peer 4 106% EGBN 77% Peer 5 63% Peer 6 62% Peer 7 61% 1 - Class Type is determined based on the lat
Slide 16: Office Loan Portfolio: Income Producing Detail
Office Loan Portfolio: Income Producing Detail Commentary • Performing Office ACL coverage = 5.78% • Non-office CRE exhibiting limited internal risk rating migration • 76% of office portfolio maturities are beyond year-end 2025 • Limited exposure to Class B central business district office CRE Offic
Slide 17: Multifamily Loan Portfolio: Income Producing Detail
Multifamily Loan Portfolio: Income Producing Detail Inc Producing Multi-Family - Maturity Schedule (in millions) $249 $177 $119 $103 $85 $91 $14 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 2027 2028+ 1 – LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on mo
Slide 18: Loan Mix and Trend
Loan Mix and Trend Home Equity Other Consumer Construction C&I (owner-occupied) Construction – comm& residential. Owner-Occupied CRE Commercial Income producing CRE (excluding office if applicable) Office 18
Slide 19: Loan Type and Classification
Loan Type and Classification Classified and Criticized Loans Quarter-over-Quarter Change 85% 86% 82% 69% 74% % performing Special Mention 8.95% 9.49% 8.46% 9.76% • C&I +$46.1 million 7.86% • CRE -$17.9 million $756 $775 • 100% of special mention loans were current as 3/31/25 $716 $671 $627 Substanda
Slide 20: Asset Quality Metrics
Asset Quality Metrics Provision for Credit Losses Allowance for Credit Losses/ $35,175 Loans HFI 1.63% $26,255 1.40% 1.44% 1.33% (in thousands) 1.25% $12,132 $8,959 $10,094 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 NCO / Average Loans1 NPAs2 / Assets 1.90% 1.07% 1.79% 1.2
Slide 21: Appendices
Appendices ” @EAGLE BANCORB INC. 21
Slide 22: Nonaccrual Loans
Nonaccrual Loans • How do loans end up on nonaccrual status? o Appraisal: For collateral dependent loans, new appraisals received as the loan approaches maturity below loan amount. Loans charged-down to 100% of new appraisal less estimated selling costs. Such loans could be receiving full P&I paymen
Slide 23: Summary of Classified and Criticized Loans
Summary of Classified and Criticized Loans 1 – When cash collateral is considered, latest LTV is 90% 2 – Loan collateral is a project that is either recently completed and in lease up, not yet stabilized, under development, or in process of conversion 3 - LTV is a factor considered in loan underwrit
Slide 24: Top 25 Loans
Top 25 Loans 1 – Mixed collateral commercial real estate 2 – Construction in process 3 – When cash collateral is considered, latest LTV is 90% 4 - LTV is a factor considered in loan underwriting and periodic portfolio monitoring. LTVs are based on most recently appraised value, which do not necessar
Slide 25: Total CRE Office Loan Portfolio (Excludes OOCRE & OO Construction)
Total CRE Office Loan Portfolio (Excludes OOCRE & OO Construction) 4 Office Loans with Substandard Risk Ratings are on Nonaccrual for a total balance of $131.9 million out of Total NPAs of $202.9 million. 1 – Loan risk grade categories: 1000 – Prime, 2000 – Excellent (“Excel.”), 3000 – Good, 4000 –
Slide 26: Washington DC Office (Income Producing CRE & Construction)
Washington DC Office (Income Producing CRE & Construction) • $221.1 Million Total Outstanding Balance o 11 Income Producing CRE = $217.5 million o 1 Income Producing Construction CRE loan = $3.6 million o 12 Total Washington DC Office Loans Median size = $12.6 million Average size = $18.4 millio
Slide 27: Multifamily Loan Portfolio
Multifamily Loan Portfolio • Zero Multifamily Loans on Nonaccrual Status • 90 Total Multifamily Loans • $1.8 Billion in Outstanding Balances with Multifamily as Collateral o Median size = $7.9 million o Average size = $20.3 million • 84 Loans with $1.7 Billion in Balances with Average Risk Rating =
Slide 28: GovCon Portfolio
GovCon Portfolio • Zero GovCon Loans on Nonaccrual Status • Less than $250 Million Total Outstanding Balance and $350 Million Total Committed • Over 30% of outstanding balances are tied to lines of credit, primarily structured under an ABL (asset-based lending) framework • Most Heavily Represented U
Slide 29: Credit Quality Since 1998
Credit Quality Since 1998 28.73% 12.11% 12.23% 12.08% gga 145% ms : te ; | soon 002% 002% 001% Pea ce oso 907 a ai 3190-24 ia — = | SS _ 0.00% 920% 0.01% go4q 0.09% 0.03% 0.02% 0.01% 1988 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20
Slide 30: CRE Construction Portfolio
CRE Construction Portfolio • $1.13 Billion Total Outstanding Balance: o 66 CRE Ground Up Construction $996.9 million o 19 CRE Renovation $133.9 million o 5 Consumer Construction $ 4.0 million o 90 Total Construction Loans Median size = $2.0 million Average size = $12.6 million • 85 Loans Risk Ra
Slide 31: Hotel Loan Portfolio
Hotel Loan Portfolio • Zero Hotel Loans on Nonaccrual Status • $431.5 Million in Outstanding Balances with Hotels as Collateral (Includes Construction CRE) o Median size = $13.3 million o Average size = $20.5 million • 21 Loans with Average Risk Rating = Pass • 0 Criticized Loans 31
Slide 32: Investment Portfolio
Investment Portfolio Investment Portfolio Strategy • Portfolio positioned to manage liquidity and pledging needs • Cash flow projected principal only (rates unchanged): o Remainder of 2025 - $296 million • Total securities down $95 million from 12/31/2024 from principal paydowns, maturities received
Slide 33: Tangible Book Value Per Share
Tangible Book Value Per Share Per share data is as of period end. Please refer to Non-GAAP reconciliation and footnotes in the appendices 33
Slide 34: Loan Portfolio - Details
Loan Portfolio - Details Note: Loan metrics not inclusive of deferrals, fees and other adjustments. Data as of March 31, 2025. 34
Slide 35: Loan Portfolio – Income Producing CRE
Loan Portfolio – Income Producing CRE Note: Loan metrics not inclusive of deferrals, fees and other adjustments. Data as of March 31, 2025. 35
Slide 36: Loan Portfolio – CRE Construction
Loan Portfolio – CRE Construction Note: Loan metrics not inclusive of deferrals, fees and other adjustments. Data as of March 31, 2025. 36
Slide 37: Non-GAAP Reconciliation (unaudited)
Non-GAAP Reconciliation (unaudited) 37
Slide 38: Non-GAAP Reconciliation (unaudited)
Non-GAAP Reconciliation (unaudited) 38
Slide 39: Non-GAAP Reconciliation (unaudited)
Non-GAAP Reconciliation (unaudited) 39
Slide 40: Non-GAAP Reconciliation (unaudited)
Non-GAAP Reconciliation (unaudited) Tangible common equity to tangible assets (the "tangible common equity ratio"), tangible book value per common share, tangible book value per common share excluding accumulated other comprehensive income (“AOCI”), and the return on average tangible common equity a