Eagle Bancorp reports quarterly loss as provisions eat into earnings (updated)

Eagle Bancorp

22/10/2025 22:25

Adds net income figures and CEO commentary

Oct 22 (Reuters) - Eagle Bancorp EGBN.O reported a third-quarter loss on Wednesday compared with a profit last year, as the lender moved a large chunk to its rainy day funds, sending its shares down about 8% in trading after the bell.

"Following an independent review of our loan portfolio and expanded supplemental internal analysis, we took actions to reduce valuation risk in the office portfolio," CEO Susan Riel said in a statement.

Eagle's provisions for credit losses came in at $113.2 million in the third quarter, compared with $10.1 million a year earlier.

The company reported a net loss of $67.51 million, or $2.22 per share, in the three months ended September 30, compared with a profit of $21.82 million, or 72 cents per share, in the year-ago period.

 (Reporting by Pritam Biswas in Bengaluru; Editing by Alan Barona)

 ((Pritam.Biswas@thomsonreuters.com))