Eagle Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 22, 2015 at 02:45 am IST
Share
Eagle Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $51.82 million compared to $38.71 million a year ago. Income before income tax expense was $24.07 million compared to $18.99 million a year ago. Net income available to common shareholders was $14.55 million or $0.49 per diluted share compared to $11.86 million or $0.45 per diluted share a year ago. Return on annualized average assets was 1.21% compared to 1.33% a year ago. Return on annualized average common equity was 11.68% compared to 14.07% a year ago. Operating earnings were $16.72 million. Operating earnings per weighted average diluted common share was $0.56. Adjusted return on average assets was 1.38%. Adjusted return on average common equity was 13.43%.
For the full year, the company reported net interest income of $178.48 million compared to $144.79 million a year ago. Income before income tax expense was $86.22 million compared to $75.33 million a year ago. Net income available to common shareholders was $53.64 million or $1.95 per diluted share compared to $46.44 million or $1.76 per diluted share a year ago. Book value per common share at period end was $18.21 compared to $13.03 a year ago. Tangible book value per common share at period end was $14.56 compared to $12.89 a year ago. Return on annualized average assets was 1.31% compared to 1.37% a year ago. Return on annualized average common equity was 13.50% compared to 14.60% a year ago. Operating earnings were $57.12 million. Operating earnings per weighted average diluted common share was $2.08. Adjusted return on average assets was 1.40%. Adjusted return on average common equity was 14.38%.
Eagle Bancorp, Inc. is a bank holding company for EagleBank (the Bank). The Bank is a chartered commercial bank. The Company, through the Bank, conducts a full-service community banking business in Northern Virginia, Suburban Maryland and Washington, D.C. The primary financial services offered by the Bank include real estate, commercial and consumer lending, as well as traditional deposit and repurchase agreement products. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living and/or working primarily in the Bankâs market area. The Bankâs loan portfolio consists of traditional business and real estate secured loans. It operates 13 branch offices: six in Suburban Maryland, four located in the District of Columbia, and three in Northern Virginia. It also has four lending centers and utilizes various digital capabilities, including remote deposit services and mobile banking services.