Parent Company Financial Information

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Financial Information

Parent Company Financial Information

Condensed financial information for Eagle Bancorp, Inc. (Parent Company only) is as follows:

(dollars in thousands)	December 31, 2022		December 31, 2021
Assets
Cash	$	21,540	$	41,997
Investment securities available-for-sale, at fair value, net of allowance for credit loss of $0 in 2021	—		43,680
Investment securities held-to-maturity, net allowance for credit loss of $326 thousand in 2022	44,673		—
Investment in subsidiaries	1,240,473		1,342,784
Other assets	9,065		5,150
Total Assets	$	1,315,751	$	1,433,611
Liabilities
Other liabilities	$	17,636	$	13,166
Long-term borrowings	69,794		69,670
Total liabilities	87,430		82,836
Shareholders’ Equity
Common stock	310		316
Additional paid in capital	412,303		434,640
Retained earnings	1,015,215		930,061
Accumulated other comprehensive loss	(199,507)		(14,242)
Total Shareholders’ Equity	1,228,321		1,350,775
Total Liabilities and Shareholders’ Equity	$	1,315,751	$	1,433,611

	Years Ended December 31,
(dollars in thousands)	2022		2021		2020
Income
Other interest and dividends	$	87,781	$	170,741	$	141,982
Gain on sale of investment securities	—		93		—
Other income (loss)	(24)		(46)		—
Total Income	87,757		170,788		141,982
Expenses
Interest expense	4,149		9,993		11,915
Legal and professional	894		2,617		2,842
Directors compensation	643		589		500
Provision for credit losses	326		—		—
Other	14,746		1,250		1,306
Total Expenses	20,758		14,449		16,563
Income Before Income Tax Benefit and Equity in Undistributed Income of Subsidiaries	66,999		156,339		125,419
Income Tax Benefit	(1,183)		(2,903)		(607)
Income Before Equity in Undistributed Income of Subsidiaries	68,182		159,242		126,026
Equity in Undistributed Income of Subsidiaries	72,748		17,449		6,191
Net Income	$	140,930	$	176,691	$	132,217

	Years Ended December 31,
(dollars in thousands)	2022		2021		2020
Cash Flows From Operating Activities
Net Income	$	140,930	$	176,691	$	132,217
Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed income of subsidiary	(72,748)		(17,449)		(6,191)
Net tax benefits from stock compensation	9,899		7,811		118
Securities premium amortization, net	(54)		5		6
Provision for credit losses for investment securities held-to-maturity	326		—		—
Depreciation and amortization	—		—		390
Decrease (increase) in other assets	(12,909)		66,598		(48,966)
Increase (decrease) in other liabilities	4,593		(681)		6,823
Net cash provided by operating activities	70,037		232,975		84,397
Cash Flows From Investing Activities
Purchases of available-for-sale investment securities	—		(40,000)		(10,000)
Proceeds from maturities of available-for-sale securities	—		13,031		613
Purchases of held-to-maturities investment securities	(3,976)		—		—
Proceeds from maturities of held-to-maturities securities	1,500		—		—
Net cash used in by investing activities	(2,476)		(26,969)		(9,387)
Cash Flows From Financing Activities
Repayment of long term debt	—		(148,407)		—
Proceeds from exercise of stock options	97		—		63
Proceeds from employee stock purchase plan	748		496		760
Common stock repurchased	(33,087)		(682)		(61,432)
Cash dividends paid	(55,776)		(44,691)		(28,330)
Net cash used in financing activities	(88,018)		(193,284)		(88,939)
Net (Decrease) Increase in Cash	(20,457)		12,722		(13,929)
Cash and Cash Equivalents at Beginning of Year	41,997		29,275		43,204
Cash and Cash Equivalents at End of Year	$	21,540	$	41,997	$	29,275
Non-Cash Investing Activities
Transfers of investment securities from available-for-sale to held-to-maturity	$	42,467	$	—	$	—