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Parent Company Financial Information
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Information

Note 26 – Parent Company Financial Information

 

Condensed financial information for Eagle Bancorp, Inc. (Parent Company only) is as follows:

 

(dollars in thousands)  December 31, 2018   December 31, 2017 
         
Assets          
Cash  $72,783   $77,883 
Investment securities available-for-sale, at fair value   100    100 
Investment in subsidiaries   1,249,704    1,088,670 
Other assets   8,214    5,315 
Total Assets  $1,330,801   $1,171,968 
           
Liabilities          
Other liabilities  $4,564   $4,625 
Long-term borrowings   217,296    216,905 
Total liabilities   221,860    221,530 
           
Shareholders’ Equity          
Common stock   342    340 
Additional paid in capital   528,380    520,304 
Retained earnings   584,494    431,544 
Accumulated other comprehensive loss   (4,275)   (1,750)
Total Shareholders’ Equity   1,108,941    950,438 
Total Liabilities and Shareholders’ Equity  $1,330,801   $1,171,968 

  

   Years Ended December 31, 
(dollars in thousands)  2018   2017   2016 
             
Income               
Other interest and dividends  $678   $234   $280 
Gain on sale of investment securities   —    —    43 
   Total Income  $678   $234   $323 
                
Expenses               
Interest expense   11,916    11,916    7,493 
Legal and professional   870    118    131 
Directors compensation   614    352    202 
Other   1,287    1,246    1,083 
   Total Expenses  $14,687   $13,632   $8,909 
                
Loss Before Income Tax (Benefit) and Equity in Undistributed Income of Subsidiaries   (14,009)   (13,398)   (8,586)
Income Tax Benefit   (2,892)   (4,689)   (2,919)
                
Loss Before Equity in Undistributed Income of Subsidiaries   (11,117)   (8,709)   (5,667)
Equity in Undistributed Income of Subsidiaries   163,393    108,941    103,374 
Net Income  $152,276   $100,232   $97,707 

  

   Years Ended December 31, 
(dollars in thousands)  2018   2017   2016 
Cash Flows From Operating Activities               
Net Income  $152,276   $100,232   $97,707 
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed income of subsidiary 		   (163,393)   (108,941)   (103,374)
Net tax benefits from stock compensation   110    460    — 
Excess tax benefit on stock-based compensation   —    —    (400)
Increase in other assets   (2,508)   (988)   (1,491)
(Decrease) increase in other liabilities   (61)   (189)   3,186 
Net cash used in operating activities   (13,576)   (9,426)   (4,372)
                
Cash Flows From Investing Activities               
Proceeds from sale of available-for-sale securities   —    —    135 
Investment in subsidiary (net)   6,892    (460)   (124,636)
Net cash provided by (used in) investing activities   6,892    (460)   (124,501)
                
Cash Flows From Financing Activities               
Issuance in long-term borrowings   —    —    147,586 
Proceeds from exercise of stock options   776    372    955 
Excess tax benefit on stock-based compensation   —    —    400 
Proceeds from employee stock purchase plan   808    836    801 
Net cash provided by financing activities   1,584    1,208    149,742 
                
Net (Decrease) Increase in Cash   (5,100)   (8,678)   20,869 
Cash and Cash Equivalents at Beginning of Year   77,883    86,561    65,692 
Cash and Cash Equivalents at End of Year  $72,783   $77,883   $86,561