Eagle Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. Net income available to common shareholders for the quarter ended December 31, 2012 increased 43% to $10.1 million ($0.44 per basic common share and $0.43 per diluted common share), as compared to $7.0 million ($0.35 per basic and diluted common share) for the same three month period in 2011. For the three months ended December 31, 2012, the company reported an annualized return on average assets (ROAA") of 1.25% as compared to 0.91% (1.03% excluding the effect of the settlement deposit) for the three months ended December 31, 2011. The annualized return on average common equity (ROAE") for the quarter ended December 31, 2012 was 13.95%, as compared to 13.40% for the quarter ended December 31, 2011. The higher ROAA and ROAE ratios for the fourth quarter of 2012 as compared to 2011 are due to an expanded net interest margin and higher noninterest income. Net interest income increased 23% for the three months ended December 31, 2012 to $34.7 million over $28.3 million for the same period in 2011, resulting from a combination of strong average balance sheet growth and net interest margin expansion, as the mix of earning assets shifted to higher yield assets and the cost of funds declined, as compared to the same quarter in 2011. Income before income tax expense was $16.3 million against $11 million for the same period last year. Book value per common share was $12.78 versus $10.53 of prior year period. Adjusted return on average assets was 1.25% against 1.03% for the comparable period last year.

For the year ended December 31, 2012, the company's net income was $35.3 million, a 44% increase over the $24.6 million for the year ended December 31, 2011. Net income available to common shareholders increased 51% to $34.7 million ($1.65 per basic common share and $1.61 per diluted common share), as compared to $23.0 million
($1.16 per basic common share and $1.14 per diluted common share) for the year ended December 31, 2011. For the twelve months ended December 31, 2012, the company reported an ROAA of 1.18% as compared to 0.97% (1.01% excluding the effect of the settlement deposit) for the twelve months of 2011, while the ROAE was 14.14% in 2012, as compared to 11.71% for the same twelve month period in 2011. The increase in these ratios was due to an expanded net interest margin, higher noninterest income and improved operating efficiency. For the twelve months of 2012, net interest income increased 29% to $127.5 million over $99 million for the same period for 2011. This increase was attributed to both an increase in average earning assets of 19% and an increase in the net interest margin to 4.32% for the twelve months of 2012, as compared to 3.99% (4.17% excluding the effect of the settlement deposit) for the twelve months of 2011. Income before income tax expense was $56 million against $38.3 million for the last year. Adjusted return on average assets was 1.18% against 1.01% for the last year.