Eagle Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, total interest income was $86,526,000 against $75,795,000 a year ago. Net interest income was $75,359,000 against $67,024,000 a year ago. Income before income tax expense was $50,965,000 against $42,146,000 a year ago. Net income was $15,569,000 against $25,717,000 a year ago. Earnings per diluted weighted average common share were $0.45 against $0.75 a year ago. Return on average assets was 0.82% against 1.46% a year ago. Return on average common equity was 6.49% against 12.26% a year ago. Non GAAP net income was $30,157,000 or $0.88 per basic and diluted share.

For the year, total interest income was $324,034,000 against $285,805,000 a year ago. Net interest income was $283,887,000 against $258,165,000 a year ago. Income before income tax expense was $185,737,000 against $159,102,000 a year ago. Net income was $100,232,000 against $97,707,000 a year ago. Earnings per diluted weighted average common share were $2.92 against $2.86 a year ago. Book value per common share as at December 31, 2017 was $27.80 against $24.77 a year ago. Return on average assets was 1.41% against 1.52% a year ago. Return on average common equity was 11.06% against 12.27% a year ago. Non GAAP net income was $114,820,000 or $3.35 per diluted share.

For the quarter, the company reported net charge-offs of $2.3 million represented an annualized 0.15% of average loans, excluding loans held for sale, as compared to a net recovery of $97,000, or an annualized 0.01% of average loans, excluding loans held for sale, in the fourth quarter of 2016. Net charge-offs in the fourth quarter of 2017 were attributable primarily to net charge-offs in construction - commercial and residential of $2.1 million.