Bethesda-based Eagle Bancorp, Inc. (NASDAQ:EGBN) reported solid growth across the board and easily beat analyst estimates as well.
The parent of Eagle Bank posted net income of $20.9 million in the second quarter or $0.62 cents per diluted share, a substantial increase of 62 percent. The company closed on its purchase of Virginia Heritage Bank last year which helped add to net income.
Analysts expected $0.58 cents per diluted share and revenues of $57.1 million, instead Eagle Bancorp posted total revenues of $63.8 million.
Asset growth was another bright spot for the company climbing to more than $5.7 billion.
Eagle Bancorp's stock closed at $46.00 the 52 week range runs from $30.94 to $47.03. The community bank now has a market value of approximately $1.53 billion.