EXHIBIT 99.1

Eagle Bancorp, Inc. Announces Record Earnings and a 51% Increase in Quarterly Net Income

BETHESDA, Md., April 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company") (Nasdaq:EGBN), the parent company of EagleBank, today announced record net income of $5.1 million for the first quarter of 2011, a 51% increase over the $3.4 million for the three months ended March 31, 2010. Net income available to common shareholders increased 57% to $4.8 million ($0.24 per basic and diluted common share), as compared to $3.1 million ($0.16 per basic common share and $0.15 per diluted common share) for the same three month period in 2010.

"We are very pleased to report continued strong financial performance for our Company for the first quarter of 2011," noted Ronald D. Paul, Chairman, and Chief Executive Officer of Eagle Bancorp, Inc. "Our first quarter 2011 results represent the ninth consecutive quarter of increasing net income. The Company's financial results in the initial quarter of 2011, as compared to the same quarter in 2010, have been highlighted by balanced growth from both loans and core deposits, favorable and improving net interest margin and enhanced noninterest income derived substantially from higher sales of residential mortgages," added Mr. Paul. "Additionally, the Company has maintained solid asset quality performance during the quarter. As a growth-oriented Company, our financial results reflect the organization's desire and ability to continue lending in the Washington, D.C. metropolitan area and our ability to continue building new and existing client relationships. This is evidenced by a $363 million, or 25% increase in portfolio loans in the past twelve months, by a $350 million or 24% increase in deposits in the past twelve months; and by our ability to successfully manage credit risk in our lending and investment activities," noted Mr. Paul.

New branches in both Washington, D.C. and Northern Virginia in 2011 will further expand the Company's opportunities to add valuable client relationships. A new office in the Gallery Place area adjacent to the Verizon Center in downtown Washington D.C. opened in late January 2011, and two new offices, in the Rosslyn and Ballston areas in Northern Virginia, are planned to open early in the third quarter of 2011.

A continuing trend of quarterly growth in both average loans and deposits together with an improving net interest margin were the primary drivers of increases in revenue and net income for the first quarter 2011. Average loans, including loans held for sale, increased 22% for the three months ended March 31, 2011, as compared to the same period in 2010. Average deposits increased 20% for the three months ended March 31, 2011, due substantially to growth in money market and non-interest bearing demand accounts. Additionally, substantial noninterest income growth from our residential mortgage activity (expanded in April 2010) contributed to revenue growth in the first quarter 2011.

At March 31, 2011, total assets were $2.19 billion compared to $1.83 billion at March 31, 2010, a 19% increase. Total deposits were $1.83 billion at March 31, 2011, a 24% increase over deposits of $1.48 billion at March 31, 2010, while total loans, excluding loans held for sale, increased to $1.79 billion at March 31, 2011, from $1.43 billion at March 31, 2010, a 25% increase. Loans held for sale amounted to $12.4 million at March 31, 2011 as compared to $1.1 million at March 31, 2010, due to the expansion of the residential mortgage division during 2010. The investment portfolio totaled $228.5 million at March 31, 2011, a 10% decrease from the $253.7 million balance at March 31, 2010. Total borrowed funds (excluding customer repurchase agreements) decreased 17% to $49.3 million at March 31, 2011, from $59.3 million at March 31, 2010. Total stockholders' equity increased to $210.1 million at March 31, 2011, from $192.5 million at March 31, 2010. The Company's capital position remains substantially in excess of regulatory requirements for well capitalized status, with a total risk based capital ratio of 11.75% at March 31, 2011. In addition, the tangible common equity ratio (tangible common equity to tangible assets) ended March 31, 2011 at 8.39%.

For the three months ended March 31, 2011, the Company reported an annualized return on average assets (ROAA) of 0.98% as compared to 0.76% for the three months ended March 31, 2010. The annualized return on average common equity (ROAE) for the three months ended March 31, 2011 was 10.49%, as compared to 7.38% for the three months ended March 31, 2010. The increase in these ratios is due primarily to a higher net interest margin in the current period versus 2010, increased noninterest income and improved operating efficiency.  

Net interest income increased 25% for the three months ended March 31, 2011 over the same period in 2010, resulting from an increase in the net interest margin and strong balance sheet growth. For the three months ended March 31, 2011, the net interest margin was 4.23% as compared to 3.98% for the three months ended March 31, 2010.

The provision for credit losses was $2.1 million for the three months ended March 31, 2011 as compared to $1.7 million for the three months ended March 31, 2010. At March 31, 2011, the allowance for credit losses represented 1.43% of loans outstanding, as compared to 1.47% at March 31, 2010 and 1.48% at December 31, 2011. The higher provisioning in the first quarter of 2011, as compared to the first quarter of 2010, is attributable to substantially higher loan growth. Net charge-offs of $1.3 million represented 0.30% of average loans, excluding loans held for sale, in the first quarter of 2011, as compared to $1.3 million or 0.36% of average loans, excluding loans held for sale, in the first quarter of 2010. Net charge-offs in the first quarter of 2011 were primarily attributable to charge-offs of construction loans ($574 thousand), commercial real estate loans ($32 thousand), commercial and industrial loans ($335 thousand), and the unguaranteed portion of SBA loans ($347 thousand).

At March 31, 2011, the allowance for credit losses represented 77% of nonperforming loans as compared to 98% at December 31, 2010 and 100% at March 31, 2010. The reduction in the coverage ratio of the allowance reflects the lower risk ratings attributed to the significant loan growth in the first quarter of 2011, and a reduction of the environmental factors in the allowance associated with improved market conditions for commercial real estate in the Washington DC Metropolitan Area. These factors also resulted in a reduced provision for credit losses in the first quarter of 2011 as compared to the fourth quarter of 2010. The level of nonperforming loans was impacted by the addition of one commercial real estate loan in the amount of $12 million placed on nonaccrual in the first quarter of 2011.  This loan is well secured and management expects no loss on this transaction. This combination of factors caused the level of allowance for credit losses relative to nonperforming loans to decline.

At March 31, 2011, the Company's nonperforming assets amounted to $36.7 million, representing 1.68% of total assets, compared to $24.9 million of nonperforming assets, or 1.36% of total assets, at March 31, 2010 and $32.0 million, or 1.53% of total assets, at December 31, 2010. The Company had no accruing loans 90 days or more past due at March 31, 2011, March 31, 2010 or December 31, 2010. One large commercial real estate loan amounting to $12.0 million was placed on nonaccrual in the first quarter of 2011. Management believes the loan is well secured and anticipates no principal loss. Other nonperforming loans, amounting to $7.3 million were resolved in the quarter ending March 31, 2011, including a $3.2 million reduction in other real estate owned (OREO). Management remains attentive to early signs of deterioration in borrowers' financial conditions and to taking the appropriate action to mitigate risk. Furthermore, the Company is diligent in placing loans on nonaccrual status and believes, based on its loan portfolio risk analysis, that its allowance for credit losses, at 1.43% of total loans at March 31, 2011 is adequate to absorb potential credit losses within the loan portfolio at that date. Included in nonperforming assets at March 31, 2011 were $3.5 million of other real estate owned ("OREO") as compared to $3.9 million at March 31, 2010 and $6.7 million at December 31, 2010.

Noninterest income for the three months ended March 31, 2011 increased to $2.9 million from $1.2 million for the three months ended March 31, 2010, a 140% increase. This change was due primarily to increases of $1.5 million in gains realized on the sale of residential loans and $100 thousand in gains realized on the sale of SBA loans. Also contributing to the change in noninterest income in 2011 compared to 2010 was an increase of $19 thousand in service fees and a $54 thousand increase in other income. There were no investment gains in either the first quarter of 2011 or 2010.

The efficiency ratio, which measures the ratio of noninterest expense to total revenue, was 58.57% for the first quarter of 2011, as compared to 62.15% for the first quarter of 2010, as the Company enhanced its productivity. As compared to the fourth quarter of 2010, the first quarter efficiency ratio was higher (from 53.98% to 58.57%) due to increases in noninterest expenses and the absence of investment gains in the first quarter 2011, as compared to $497 thousand in the fourth quarter of 2010. Noninterest expenses were $14.3 million for the three months ended March 31, 2011, as compared to $11.5 million for the three months ended March 31, 2010, a 25% increase. Cost increases were incurred for salaries and benefits of $1.6 million due substantially to additional residential mortgage staff, merit increases and increases in incentive compensation. Premises and equipment expenses were $101 thousand lower due primarily to the consolidation of two branches during 2010. Legal, accounting, and professional fees increased $562 thousand substantially due to higher problem loan collection costs. Other expenses increased by $583 thousand, with $183 thousand due to the operating and disposition costs of OREO properties. FDIC insurance premiums were $109 thousand higher due to substantially higher deposit balances and increased costs of the Transaction Account Guarantee program.

At March 31, 2011, the Company had a total risk based capital ratio of 11.75%, a Tier 1 risk based capital ratio of 10.03%, and a Tier 1 leverage ratio of 9.44%, all measures substantially above the regulatory requirements for well capitalized status.

The financial information which follows provides more detail on the Company's financial performance for the three months ended March 31, 2011 as compared to the three months ended March 31, 2010, as well as providing eight quarters of trend data. Persons wishing additional information should refer to the Company's Form 10-K for the year ended December 31, 2010 and other reports filed with the Securities and Exchange Commission (the "SEC").

About Eagle Bancorp: The Company is the holding company for EagleBank which commenced operations in 1998. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through thirteen offices, located in Montgomery County, Maryland, Washington, D.C. and Fairfax County, Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. 

The Eagle Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6101

Conference Call: Eagle Bancorp will host a conference call to discuss the first quarter 2011 financial results on Tuesday, April 26, 2011 at 10:00 a.m. eastern daylight time. The public is invited to listen to this conference call by dialing 877-303-6220, conference ID Code is 58139972, or by accessing the call on the Company's website, www.eaglebankcorp.com.  A replay of the conference call will be available on the Company's website through May 10, 2011.

Forward-looking Statements: This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by use of words such as "may," "will," "anticipates," "believes," "expects," "plans," "estimates," "potential," "continue," "should," and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company's market, interest rates and interest rate policy, competitive factors, and other conditions which by their nature, are not susceptible to accurate forecast and are subject to significant uncertainty. Because of these uncertainties and the assumptions on which this discussion and the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and in other periodic and current reports filed with the SEC. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company's past results are not necessarily indicative of future performance.

CONTACT:  Eagle Bancorp, Inc.
          Michael T. Flynn
          301.986.1800