XML 364 R54.htm IDEA: XBRL DOCUMENT v3.22.0.1

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of recorded amount of assets and liabilities measured at fair value on a recurring basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020:

(dollars in thousands)						Quoted Prices (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Other Unobservable Inputs (Level 3)						Total (Fair Value)
December 31, 2021
Assets:
Investment securities available-for-sale:
U.S. Treasury Bond						$	—					$	49,458					$	—					$	49,458
U. S. agency securities						—						622,387						$	—					622,387
Residential mortgage backed securities						—						1,677,673						—						1,677,673
Municipal bonds						—						145,431						—						145,431
Corporate bonds						—						118,459						10,000						128,459
Loans held for sale						—						47,218						—						47,218
Interest rate caps						—						5,197						—						5,197
Mortgage banking derivatives						—						—						636						636
Total assets measured at fair value on a recurring basis as of December 31, 2021						$	—					$	2,665,823					$	10,636					$	2,676,459
Liabilities:
Interest rate swap derivatives						$	—					$	—					$	—					$	—
Credit risk participation agreements						—						47						—						47
Interest rate caps						—						5,147						—						5,147
Total liabilities measured at fair value on a recurring basis as of December 31, 2021						$	—					$	5,194					$	—					$	5,194
December 31, 2020
Assets:
Investment securities available-for-sale:
U. S. agency securities						$	—					$	181,921					$	—					$	181,921
Residential mortgage backed securities						—						825,001						—						825,001
Municipal bonds						—						108,113						—						108,113
Corporate bonds						—						34,350						1,500						35,850
Loans held for sale						—						88,205						—						88,205
Interest rate caps						—						3,413						—						3,413
Mortgage banking derivatives						—						—						5,213						5,213
Total assets measured at fair value on a recurring basis as of December 31, 2020						$	—					$	1,241,003					$	6,713					$	1,247,716
Liabilities:
Interest rate swap derivatives						$	—					$	516					$	—					$	516
Credit risk participation agreements												118												118
Interest rate caps						—						3,574						—						3,574
Total liabilities measured at fair value on a recurring basis as of December 31, 2020						$	—					$	4,208					$	—					$	4,208

Schedule of aggregate fair value and the aggregate unpaid principal balance for loans held for sale measured at fair value

The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for sale measured at fair value as of December 31, 2021 and 2020.

						December 31, 2021
(dollars in thousands)						Fair Value						Aggregate Unpaid Principal Balance						Difference
Loans held for sale						$	47,218					$	46,623					$	595

						December 31, 2020
(dollars in thousands)						Fair Value						Aggregate Unpaid Principal Balance						Difference
Loans held for sale						$	88,205					$	86,551					$	1,654

Schedule of the reconciliation of activity for assets and liabilities measured at fair value based on Significant Other Unobservable Inputs (Level 3)

The following is a reconciliation of activity for assets and liabilities measured at fair value based on Significant Other Unobservable Inputs (Level 3):

(dollars in thousands)						Investment Securities						Mortgage Banking Derivatives						Total
Assets:
Beginning balance at January 1, 2021						$	1,500					$	5,213					$	6,713
Realized loss included in earnings						—						(4,577)						(4,577)
Reclass Level 2 to 3						12,000						—						$	12,000
Principal redemption						$	(1,500)					$	—					$	(1,500)
Ending balance at December 31, 2021						$	12,000					$	636					$	12,636
Liabilities:
Beginning balance at January 1, 2021						$	—					$	—					$	—
Realized gain included in earnings						—						—						—
Ending balance at December 31, 2021						$	—					$	—					$	—

(dollars in thousands)						Investment Securities						Mortgage Banking Derivatives						Total
Assets:
Beginning balance at January 1, 2020						$	10,931					$	280					$	11,211
Realized gain included in earnings						—						4,933						$	4,933
Migrated to Level 2 valuation						(9,233)												(9,233)
Reclass fair value asset to cost method						(198)						—						$	(198)
Ending balance at December 31, 2020						$	1,500					$	5,213					$	6,713
Liabilities:
Beginning balance at January 1, 2020						$	—					$	66					$	66
Realized loss included in earnings						—						(66)						(66)
Ending balance at December 31, 2020						$	—					$	—					$	—

Schedule of assets measured at fair value on recurring or nonrecurring basis

Form Level 3 assets measured at fair value on a recurring or nonrecurring basis as of December 31, 2021 and 2020, the significant unobservable inputs used in the fair value measurements were as follows:

																		December 31, 2021															December 31, 2020
(dollars in thousands)						Valuation Technique						Description						Range						Weighted Average (1)			Fair Value						Weighted Average (1)						Fair Value
Mortgage banking derivatives						Pricing Model						Pull Through Rate						86% - 87%						86.40		%	$	636					76.25		%				$	5,213

(1) Unobservable inputs for mortgage banking derivatives were weighted by loan amount.

Schedule of assets measured at fair value on nonrecurring basis

Assets measured at fair value on a nonrecurring basis are included in the table below:

(dollars in thousands)						Quoted  Prices  (Level 1)						Significant Other Observable Inputs  (Level 2)						Significant Other  Unobservable Inputs  (Level 3)						Total  (Fair Value)
December 31, 2021
Individually assessed loans:
Commercial						$	—					$	—					$	8,121					$	8,121
Income producing - commercial real estate						—						—						17,415						17,415
Owner occupied - commercial real estate						—						—						42						42
Real estate mortgage - residential						—						—						1,779						1,779
Construction - commercial and residential						—						—						3,093						3,093
Home equity						—						—						366						366
PPP loans						—						—						1,365						1,365
Other real estate owned						—						—						1,635						1,635
Total assets measured at fair value on a nonrecurring basis as of December 31, 2021						$	—					$	—					$	33,816					$	33,816

(dollars in thousands)						Quoted Prices  (Level 1)						Significant Other Observable Inputs  (Level 2)						Significant Other  Unobservable Inputs  (Level 3)						Total  (Fair Value)
December 31, 2020
Individually assessed loans:
Commercial						$	—					$	—					$	9,285					$	9,285
Income producing - commercial real estate						—						—						21,638						21,638
Owner occupied - commercial real estate						—						—						21,930						21,930
Real estate mortgage - residential						—						—						2,602						2,602
Construction - commercial and residential						—						—						103						103
Home equity						—						—						416						416
Other real estate owned						—						—						4,987						4,987
Total assets measured at fair value on a nonrecurring basis as of December 31, 2020						$	—					$	—					$	60,961					$	60,961

Schedule of estimated fair values of financial instruments

Estimated fair values of the Company’s financial instruments at December 31, 2021 and 2020 are as follows

																		Fair Value Measurements
(dollars in thousands)						Carrying Value						Fair Value						Quoted Prices (Level 1)						Significant Other  Observable Inputs (Level 2)						Significant Other Unobservable  Inputs (Level 3)
December 31, 2021
Assets
Cash and due from banks						$	12,886					$	12,886					$	12,886					$	—					$	—
Federal funds sold						20,391						20,391						—						20,391						—
Interest bearing deposits with other banks						1,680,945						1,680,945						—						1,680,945						—
Investment securities						2,623,408						2,623,408						—						2,611,408						12,000
Federal Reserve and Federal Home Loan Bank stock						34,153						34,153						—						34,153						—
Loans held for sale						47,218						47,218						—						47,218						—
Loans						7,065,598						6,930,929						—						—						6,930,929
Mortgage banking derivatives						636						636						—						—						636
Interest rate caps						5,197						5,197						—						5,197						—
Liabilities
Noninterest bearing deposits						3,277,956						3,277,956						—						3,277,956						—
Interest bearing deposits						5,974,502						5,974,502						—						5,974,502						—
Time deposits						729,082						736,001						—						736,001						—
Customer repurchase agreements						23,918						23,918						—						23,918						—
Borrowings						369,670						374,326						—						374,326						—
Interest rate swap derivatives						—						—						—						—						—
Credit risk participation agreements						47						47						—						47						—
Interest rate caps						5,147						5,147						—						5,147						—
December 31, 2020
Assets
Cash and due from banks						$	8,435					$	8,435					$	8,435					$	—					$	—
Federal funds sold						28,200						28,200						—						28,200						—
Interest bearing deposits with other banks						1,752,420						1,752,420						—						1,752,420						—
Investment securities						1,150,885						1,150,885						—						1,149,385						1,500
Federal Reserve and Federal Home Loan Bank stock						40,104						40,104						—						40,104						—
Loans held for sale						88,205						88,205						—						88,205						—
Loans						7,650,633						7,608,687						—						—						7,608,687
Mortgage banking derivatives						5,213						5,213						—						—						5,213
Interest rate swap derivatives						3,413						3,413						—						3,413						—
Liabilities
Noninterest bearing deposits						2,809,334						2,809,334						—						2,809,334						—
Interest bearing deposits						756,923						756,923						—						756,923						—
Time deposits						977,760						993,500						—						993,500						—
Customer repurchase agreements						26,726						26,726						—						26,726						—
Borrowings						568,077						575,435						—						575,435						—
Interest rate swap derivatives						516						516						—						516						—
Credit risk participation agreements,						118						118						—						118						—
Interest rate caps						3,574						3,574						—						3,574						—

X

- Definition

Tabular disclosure for aggregate fair value and unpaid principal balance for loans held for sale.

+ References

No definition available.

+ Details

Name:	egbn_ScheduleOfAggregateFairValueAndAggregateUnpaidPrincipalBalanceForLoansHeldForSaleMeasuredAtFairValueTableTextBlock
Namespace Prefix:	egbn_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration