Eagle Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net interest income of $75,359,000 compared to $67,024,000 a year ago. Net interest income after provision for credit losses was $71,272,000 compared to $64,912,000 a year ago. Income before income tax expense was $50,965,000 compared to $42,146,000 a year ago. Net income was $15,569,000 compared to $25,717,000 a year ago. Diluted earnings per share were $0.45 compared to $0.75 per share a year ago. Return on average assets was 0.82% compared to 1.46% a year ago. Return on average common equity was 6.49% compared to 12.26% a year ago. Pre-tax, pre-provision income was $55.1 million for the fourth quarter of 2017 a 24% increase over $44.3 million for the fourth quarter of 2016 and a 12% increase over the $49.2 million for the third quarter of 2017. On non GAAP basis, the net income was $30,157,000. Diluted earnings were $0.88 per share. Return on average assets was 1.60%. Return on average common equity was 12.57%.

For the full year, the company reported net interest income of $283,887,000 compared to $258,165,000 a year ago. Net interest income after provision for credit losses was $274,916,000 compared to $246,834,000 a year ago. Income before income tax expense was $185,737,000 compared to $159,102,000 a year ago. Net income was $100,232,000 compared to $97,707,000 a year ago. Diluted earnings per share were $2.92 compared to $2.86 per share a year ago. Return on average assets was 1.41% compared to 1.52% a year ago. Return on average common equity was 11.06% compared to 12.27% a year ago. Tangible book value per common share was $24.67 compared to $21.61 a year ago. Book value per share was $27.80 compared to $24.77 per share a year ago. Pre-tax, pre-provision income was $194.7 million for the full year 2017 as compared to $170.4 million for the full year 2016, a 14% increase. On non GAAP basis, the net income was $114,820,000. Diluted earnings were $3.35 per share. Return on average assets was 1.62%. Return on average common equity was 12.67%.

For the fourth quarter of 2017, the company's 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 $2.1 million.