Revenue during the quarter grew 11.56 percent to $71.93 million from $64.47 million in the previous year period. Net interest income for the quarter rose 7.11 percent over the prior year period to $67.02 million. Non-interest income for the quarter rose 8.04 percent over the last year period to $7.01 million.

Eagle Bancorp Inc has made provision of $2.11 million for loan losses during the quarter, down 54.04 percent from $4.60 million in the same period last year.

Net interest margin contracted 42 basis points to 3.96 percent in the quarter from 4.38 percent in the last year period. Efficiency ratio for the quarter improved to 40.22 percent from 41.47 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

“We are very pleased to report a continued trend of balanced and consistently strong financial performance,” noted Ronald D. Paul, chairman and chief executive officer of Eagle Bancorp, Inc. “Our net income has increased for 32 consecutive quarters dating back to the first quarter of 2009. This strong financial performance has resulted from a combination of steady balance sheet growth, revenue growth, solid asset quality, and favorable operating leverage.” Loan balances increased 4% in the fourth quarter and deposit balances increased 3%. Mr. Paul added, “A lower net interest margin in the fourth quarter (3.96% versus 4.11% in the third quarter 2016) was due substantially to higher average liquidity as average deposit growth in the fourth quarter exceeded average loan growth by about $275 million. The loan pipeline remains strong, and the yield on the loan portfolio in the fourth quarter was 3 basis points higher at 5.11% versus 5.08% for the third quarter, as the Company continues to demonstrate discipline in its loan pricing. Additionally, our favorable credit quality improved even more in the fourth quarter as we recorded net recoveries of $97 thousand for the latest three months and the level of nonperforming assets was just 0.30% of total assets at December 31, 2016. Mr. Paul further added, “that the Company’s operating efficiency, another key driver of financial performance remained quite strong in the fourth quarter, as noninterest expense growth was 3% while total revenue increased by 4%, which further improved the efficiency ratio to 40.22% for the most recent quarter.”

Investments stood at $538.11 million as on Dec. 31, 2016, up 10.30 percent or $50.24 million from year-ago. Shareholders equity stood at $842.80 million as on Dec. 31, 2016, up 14.11 percent or $104.20 million from year-ago.

Return on assets moved down 4 basis points to 1.46 percent in the quarter from 1.50 percent in the last year period. At the same time, return on equity increased 18 basis points to 12.26 percent in the quarter from 12.08 percent in the last year period.

Nonperforming assets to total loans was 0.31 percent in the quarter, up from 0.26 percent in the last year period. Meanwhile, nonperforming assets to total assets was 0.30 percent in the quarter, down from 0.31 percent in the last year period.

Equity to assets ratio was 12.23 percent for the quarter, up from 12.16 percent for the previous year quarter. Book value per share was $24.77 for the quarter, up 12.23 percent or $2.70 compared to $22.07 for the same period last year.