Eagle Bancorp, Inc.

Good day and thank you for standing by. Welcome to the Eagle Bancorp Inc. fourth quarter and year-end 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. to withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Eric Newell, Chief Financial Officer of Eagle Bancorp. Please go ahead.

Good morning. This is Eric Newell, Chief Financial Officer of Eagle Bancorp. Before we begin the presentation, I would like to remind everyone that some of the comments made during our call today are forward-looking statements. We cannot make any promises about future performance and caution you not to place undue reliance on these forward-looking statements. Our Form 10-K for the 2023 fiscal year and current reports on Form 8-K, including the earnings presentation slides, identify risk factors that could cause the company's actual results to differ materially from those reflected in any forward-looking statements made this morning, which speak only as of today. Eagle Bancorp does not undertake to update any forward-looking statements as a result of new information or future events or developments unless required by law. This morning's commentary will include non-GAAP financial information. The earnings release, which is posted in the investor relations section of our website and filed with the SEC, contains reconciliations of this information to the most directly comparable GAAP information. Our periodic reports are available from the company online at our website or on the SEC's website. With me today is our President and CEO, Susan Riehl, Kevin Gagan, and Jan Williams. I'd like to now turn it over to Susan.

Susan Riehl Thank you, Eric. Good morning, everyone. Last night, we reported net income of $15.3 million for the quarter. This result reflects our proactive approach to navigating valuation risk, particularly through an increased provision for credit loss As part of the effort, we moved a $74.9 million office loan to non-accrual status due to a new appraisal. This loan continues to make contractual payments, and the property's improving fundamentals gives us cautious optimism as we manage through this challenging environment. Our team remains focused on executing a disciplined strategy that positions Eagle Bank and our clients for long-term success, even amid evolving market dynamics. The enhanced loan disclosures introduced last quarter reflect our commitment to transparency, helping stakeholders better understand the risk we see and how we are addressing them. Looking back on 2024, we made significant progress toward building a foundation for sustainable growth. We strengthened our CNI team to deepen relationships and grow deposits and fee income, key components of our profitability strategy. Fourth quarter deposit growth of $590.2 million allowed us to fully repay $1 billion in bank term funding program debt, a testament to the strength of our balance sheet and liquidity management. As we look ahead, Our geographic presence in the DMV, our role as a top local commercial lender, and our deeply rooted relationship first values create a strong competitive advantage. These qualities enable us to adapt to change and deliver solutions that build trust and long-term value for our clients. The entire team is energized by the progress we've made and the opportunities ahead. With the groundwork laid in 2024, we are confident in our ability to execute on our strategic goals and deliver results for our shareholders. With that, I will turn things over to Jan.