XML 131 R33.htm IDEA: XBRL DOCUMENT
v3.23.2

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Recorded Amount of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022.
(dollars in thousands) |  | Quoted Prices (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Other Unobservable Inputs (Level 3) |  | Total Fair Value
June 30, 2023 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |
U.S treasury bonds |  | $ | — |  |  | 46,629 |  |  | $ | — |  |  | $ | 46,629 |
U. S. agency securities |  | — |  |  | 665,416 |  |  | — |  |  | 665,416 |
Residential mortgage-backed securities |  | — |  |  | 764,590 |  |  | — |  |  | 764,590 |
Commercial mortgage-backed securities |  | — |  |  | 48,969 |  |  | — |  |  | 48,969 |
Municipal bonds |  | — |  |  | 8,312 |  |  | — |  |  | 8,312 |
Corporate bonds |  | — |  |  | 1,673 |  |  | — |  |  | 1,673 |
Interest rate product |  | — |  |  | 30,659 |  |  | — |  |  | 30,659 |
Credit risk participation agreements |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total assets measured at fair value on a recurring basis |  | $ | — |  |  | $ | 1,566,251 |  |  | $ | — |  |  | $ | 1,566,251 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate product |  | — |  |  | $ | 32,341 |  |  | — |  |  | 32,341 |
Total liabilities measured at fair value on a recurring basis |  | $ | — |  |  | $ | 32,341 |  |  | $ | — |  |  | $ | 32,341 |
December 31, 2022 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |
U.S. treasury bonds |  | $ | — |  |  | $ | 46,326 |  |  | $ | — |  |  | $ | 46,326 |
U. S. agency securities |  | — |  |  | 669,728 |  |  | — |  |  | 669,728 |
Residential mortgage-backed securities |  | — |  |  | 820,502 |  |  | — |  |  | 820,502 |
Commercial mortgage-backed securities |  | — |  |  | 50,214 |  |  | — |  |  | 50,214 |
Municipal bonds |  | — |  |  | 10,088 |  |  | — |  |  | 10,088 |
Corporate bonds |  | — |  |  | 1,808 |  |  | — |  |  | 1,808 |
Loans held for sale |  | — |  |  | 6,734 |  |  | — |  |  | 6,734 |
Interest rate product |  | — |  |  | 31,039 |  |  | — |  |  | 31,039 |
Mortgage banking derivatives |  | — |  |  | — |  |  | 93 |  |  | 93 |
Total assets measured at fair value on a recurring basis |  | $ | — |  |  | $ | 1,636,439 |  |  | $ | 93 |  |  | $ | 1,636,532 |
Liabilities: |  |  |  |  |  |  |  |
Credit risk participation agreements |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Interest rate product |  | — |  |  | 30,065 |  |  | — |  |  | 30,065 |
Total liabilities measured at fair value on a recurring basis |  | $ | — |  |  | $ | 30,067 |  |  | $ | — |  |  | $ | 30,067 |
Schedule of the Reconciliation of Activity for Assets and Liabilities Measured at Fair Value Based on Significant Other Unobservable Inputs | The following is a reconciliation of activity for assets measured at fair value based on Significant Other Unobservable Inputs (Level 3):
(dollars in thousands) |  | Investment Securities Available-for-Sale |  | Total
Assets: |  |  |  |
Beginning balance at January 1, 2022 |  | $ | 10,000 |  |  | $ | 10,000 |
Realized loss included in earnings |  | — |  |  | — |
Reclassified to investment securities held-to-maturity |  | (10,000) |  |  | (10,000) |
Ending balance at December 31, 2022 |  | $ | — |  |  | $ | — |
Schedule of Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Loans Held for Sale Measured at Fair Value | The following tables summarize the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for sale measured at fair value as of June 30, 2023 and December 31, 2022.
(dollars in thousands) |  | Fair Value |  | Aggregate Unpaid Principal Balance |  | Difference
June 30, 2023 |  |  |  |  |  |
Loans held for sale |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2022 |  |  |  |  |  |
Loans held for sale |  | $ | 6,734 |  |  | $ | 6,775 |  |  | $ | (41) |
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
June 30, 2023 |  |  |  |  |  |  |  |
Individually assessed loans: |  |  |  |  |  |  |  |
Commercial |  | $ | — |  |  | $ | — |  |  | $ | 2,128 |  |  | $ | 2,128 |
Income producing - commercial real estate |  | — |  |  | — |  |  | 23,367 |  |  | 23,367 |
Owner occupied - commercial real estate |  | — |  |  | — |  |  | 19,179 |  |  | 19,179 |
Real estate mortgage - residential |  | — |  |  | — |  |  | 1,638 |  |  | 1,638 |
Consumer |  | — |  |  | — |  |  | 396 |  |  | 396 |
Other real estate owned |  | — |  |  | — |  |  | 1,487 |  |  | 1,487 |
Total assets measured at fair value on a nonrecurring basis as of June 30, 2023 |  | $ | — |  |  | $ | — |  |  | $ | 48,195 |  |  | $ | 48,195 |
December 31, 2022 |  |  |  |  |  |  |  |
Individually assessed loans: |  |  |  |  |  |  |  |
Commercial |  | $ | — |  |  | $ | — |  |  | $ | 1,790 |  |  | $ | 1,790 |
Income producing - commercial real estate |  | — |  |  | — |  |  | 3,131 |  |  | 3,131 |
Owner occupied - commercial real estate |  | — |  |  | — |  |  | 19,187 |  |  | 19,187 |
Real estate mortgage - residential |  | — |  |  | — |  |  | 1,404 |  |  | 1,404 |
Consumer |  | — |  |  | — |  |  | 3 |  |  | 3 |
Other real estate owned |  | — |  |  | — |  |  | 1,962 |  |  | 1,962 |
Total assets measured at fair value on a nonrecurring basis as of December 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | 27,477 |  |  | $ | 27,477 |
Schedule of Estimated Fair Values of Financial Instruments | The estimated fair value of the Company's financial instruments at June 30, 2023 and December 31, 2022 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) |  |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 9,865 |  |  | $ | 9,865 |  |  | $ | 9,865 |  |  | $ | — |  |  | $ | — |  |  |
Federal funds sold |  | 3,981 |  |  | 3,981 |  |  | — |  |  | 3,981 |  |  | — |  |  |
Interest bearing deposits with other banks |  | 174,072 |  |  | 174,072 |  |  | — |  |  | 174,072 |  |  | — |  |  |
Investment securities available-for-sale |  | 1,535,589 |  |  | 1,535,589 |  |  | — |  |  | 1,535,589 |  |  | — |  |  |
Investment securities held-to-maturity |  | 1,055,181 |  |  | 923,313 |  |  | — |  |  | 923,313 |  |  | — |  |  |
Federal Reserve and Federal Home Loan Bank stock |  | 46,199 |  |  | N/A |  | — |  |  | — |  |  | — |  |  |
Loans |  | 7,766,719 |  |  | 7,480,027 |  |  | — |  |  | — |  |  | 7,480,027 |  |  |
Annuity investment |  | 13,454 |  |  | 13,454 |  |  | — |  |  | 13,454 |  |  | — |  |  |
Bank owned life insurance |  | 111,565 |  |  | 111,565 |  |  | — |  |  | 111,565 |  |  | — |  |  |
Annuity investment |  | 13,454 |  |  | 13,454 |  |  | — |  |  | 13,454 |  |  | — |  |  |
Mortgage banking derivatives |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Interest rate product |  | 30,659 |  |  | 30,659 |  |  | — |  |  | 30,659 |  |  | — |  |  |
Credit risk participation agreement |  | 3 |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  |
Accrued interest receivable |  | 37,896 |  |  | 37,896 |  |  | 37,896 |  |  | — |  |  | — |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Noninterest bearing deposits |  | $ | 2,010,353 |  |  | $ | 2,010,353 |  |  | $ | — |  |  | $ | 2,010,353 |  |  | $ | — |  |  |
Interest bearing deposits |  | 3,721,348 |  |  | 3,721,348 |  |  | — |  |  | 3,721,348 |  |  | — |  |  |
Time deposits |  | 1,986,426 |  |  | 1,976,101 |  |  | — |  |  | 1,976,101 |  |  | — |  |  |
Customer repurchase agreements |  | 37,017 |  |  | 37,017 |  |  | — |  |  | 37,017 |  |  | — |  |  |
Borrowings |  | 1,906,615 |  |  | 1,904,242 |  |  | — |  |  | 1,904,242 |  |  | — |  |  |
Interest rate product |  | 32,341 |  |  | 32,341 |  |  | — |  |  | 32,341 |  |  | — |  |  |
Accrued interest payable |  | 25,911 |  |  | 25,911 |  |  | 25,911 |  |  | — |  |  | — |  |  |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 12,655 |  |  | $ | 12,655 |  |  | $ | 12,655 |  |  | $ | — |  |  | $ | — |  |  |
Federal funds sold |  | 33,927 |  |  | 33,927 |  |  | — |  |  | 33,927 |  |  | — |  |  |
Interest bearing deposits with other banks |  | 265,272 |  |  | 265,272 |  |  | — |  |  | 265,272 |  |  | — |  |  |
Investment securities available-for-sale |  | 1,598,666 |  |  | 1,598,666 |  |  | — |  |  | 1,598,666 |  |  | — |  |  |
Investment securities held-to-maturity |  | 1,093,374 |  |  | 967,940 |  |  | — |  |  | 967,940 |  |  | — |  |  |
Federal Reserve and Federal Home Loan Bank stock |  | 65,067 |  |  | N/A |  | — |  |  | — |  |  | — |  |  |
Loans held for sale |  | 6,734 |  |  | 6,734 |  |  | — |  |  | 6,734 |  |  | — |  |  |
Loans |  | 7,635,632 |  |  | 7,492,283 |  |  | — |  |  | — |  |  | 7,492,283 |  |  |
Bank owned life insurance |  | 110,998 |  |  | 110,998 |  |  | — |  |  | 110,998 |  |  | — |  |  |
Annuity investment |  | 13,869 |  |  | 13,869 |  |  | — |  |  | 13,869 |  |  | — |  |  |
Mortgage banking derivatives |  | 93 |  |  | 93 |  |  | — |  |  | — |  |  | 93 |  |  |
Interest rate product |  | 31,039 |  |  | 31,039 |  |  | — |  |  | 31,039 |  |  | — |  |  |
Accrued interest receivable |  | 36,605 |  |  | 36,605 |  |  | 36,605 |  |  | — |  |  | — |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Noninterest bearing deposits |  | $ | 3,150,751 |  |  | $ | 3,150,751 |  |  | $ | — |  |  | $ | 3,150,751 |  |  | $ | — |  |  |
Interest bearing deposits |  | 4,778,932 |  |  | 4,778,932 |  |  | — |  |  | 4,778,932 |  |  | — |  |  |
Time deposits |  | 783,499 |  |  | 777,757 |  |  | — |  |  | 777,757 |  |  | — |  |  |
Customer repurchase agreements |  | 35,100 |  |  | 35,100 |  |  | — |  |  | 35,100 |  |  | — |  |  |
Borrowings |  | 1,044,795 |  |  | 1,043,083 |  |  | — |  |  | 1,043,083 |  |  | — |  |  |
Interest rate swap derivatives |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Credit risk participation agreements |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  |
Interest rate product |  | 30,065 |  |  | 30,065 |  |  | — |  |  | 30,065 |  |  | — |  |  |
Accrued interest payable |  | 25,911 |  |  | 25,911 |  |  | 25,911 |  |  | — |  |  | — |  |  |

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-types1: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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + 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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration