Eagle Bancorp reports Q2 EPS ($2.30), consensus 51c

Reports Q2 revenue $74.19M, consensus $73.29M. Reports Q2 tangible book value per share $39.03. The $71.5M decrease in net income from the prior quarter is primarily due to a $111.9M increase in provision expense. “Our core profitability improvement this quarter, evident in the growth of pre-provision net revenue, expansion of core deposits, and reduced reliance on wholesale and brokered funding, reflects our disciplined execution of our strategic plan,” said Susan Riel, chair, president, and CEO of the company. “We continue to work on building a stronger balance sheet that will contribute to long-term, sustainable performance.”