EXHIBIT 99.1

Eagle Bancorp, Inc. Announces a 50% Increase in Earnings for the Second Quarter of 2013

BETHESDA, Md., July 22, 2013 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company") (Nasdaq:EGBN), the parent company of EagleBank, today announced record quarterly net income of $11.7 million for the quarter ended June 30, 2013, a 50% increase over the $7.8 million net income for the quarter ended June 30, 2012. Net income available to common shareholders for the quarter ended June 30, 2013 increased 51% to $11.5 million ($0.45 per basic common share and $0.44 per diluted common share), as compared to $7.6 million ($0.34 per basic common share and $0.33 per diluted common share) for the same period in 2012.

For the six months ended June 30, 2013, the Company's net income was $23.2 million, a 51% increase over the $15.4 million for the six months ended June 30, 2012. Net income available to common shareholders was $23.0 million ($0.90 per basic common share and $0.88 per diluted common share), as compared to $15.1 million ($0.68 per basic common share and $0.66 per diluted common share) for the same six month period in 2012, a 52% increase.

Per share amounts and the number of outstanding shares have been adjusted to give effect to the 10% common stock dividend paid on June 14, 2013.

"We are very pleased to report another quarter of strong financial performance, consisting of balanced and focused results, comprised of substantially higher total revenue from both net interest income and noninterest income as compared to the same quarter in 2012, continued favorable asset quality and disciplined operating expense management," noted Ronald D. Paul, Chairman and Chief Executive Officer of Eagle Bancorp, Inc.

Mr. Paul noted: "For the second quarter of 2013, the Company was able to increase its already favorable net interest margin to 4.27% from 4.20% in the first quarter of 2013 by growing its loan portfolio, managing its cost of money lower and maintaining a disciplined approach to new loan pricing. For the second quarter of 2013, the loan portfolio grew 5.6%, while the yield on the loan portfolio was 5.52% in the most recent quarter, as compared to 5.65% for the first quarter of 2013. Average loans for the second quarter of 2013 were 14% above the same quarter in 2012." Mr. Paul added, "While loan growth was robust in the most recent quarter, lowering average liquidity, we were also pleased with deposit growth of about 3% in the quarter. Average total deposits were 15% higher for the second quarter of 2013 as compared to the same period in 2012, and the deposit mix remains very favorable. We continued to be disciplined in our approach to managing our liquidity needs."

Additionally, Mr. Paul noted "that while higher interest rates in the second quarter of 2013 were a contributing factor to lower residential mortgage originations and sale revenues, gains from increased sales of SBA guaranteed loans contributed significantly to the Company's noninterest income in the second quarter." We continue to believe in the opportunities that the SBA programs provide the Bank. In total, noninterest income was 59% higher in the second quarter 2013 as compared to the second quarter in 2012, but was 13% lower than the first quarter of 2013.

Total revenue (net interest income plus noninterest income) was $41.9 million for the second quarter 2013 as compared to $35.5 million for the second quarter in 2012, an 18% increase. For the first six months of 2013, total revenue was $84.5 million, 21% higher than $69.9 million for the first six months in 2012.

At June 30, 2013, total assets were $3.41 billion, compared to $2.96 billion at June 30, 2012, a 15% increase. As compared to December 31, 2012, total assets at June 30, 2013 increased by $1 million, substantially due to the loss of one large deposit relationship of $130 million in March 2013, which was related to the expiration of the TAG program, and which was earlier reported. Total loans (excluding loans held for sale) were $2.69 billion at June 30, 2013 compared to $2.32 billion at June 30, 2012, a 16% increase. As compared to December 31, 2012, total loans at June 30, 2013 increased by $198 million, an 8% increase. Total deposits were $2.89 billion at June 30, 2013, compared to deposits of $2.51 billion at June 30, 2012, a 15% increase. As compared to December 31, 2012, total deposits at June 30, 2013 decreased by $9 million, net of the loss of a $130 million relationship noted above. Loans held for sale amounted to $104.8 million at June 30, 2013 as compared to $102.8 million at June 30, 2012, a 2% increase. As compared to December 31, 2012, loans held for sale decreased by $122 million, a 54% decrease. The investment portfolio totaled $335.8 million at June 30, 2013, a 1% decrease from the $338.9 million balance at June 30, 2012. As compared to December 31, 2012, the investment portfolio at June 30, 2013 increased by $36.0 million, a 12% increase. Total borrowed funds (excluding customer repurchase agreements) were $39.3 million at June 30, 2013 compared to $49.3 million at June 30, 2012, a 20% decrease due to the early payoff of Federal Home Loan Bank advances. As compared to December 31, 2012, total borrowed funds at June 30, 2013 remained the same at $39.3 million. Total shareholders' equity increased to $369.4 million at June 30, 2013, compared to $290.3 million and $350.0 million at June 30, 2012 and December 31, 2012, respectively, reflecting both capital raising activities during 2012 and growth in retained earnings. The Company's capital position remains substantially in excess of regulatory requirements for well capitalized status, with a total risk based capital ratio of 12.53% at June 30, 2013, as compared to a total risk based capital ratio of 11.53% at June 30, 2012 and 12.20% at December 31, 2012. In addition, the tangible common equity ratio (tangible common equity to tangible assets) increased to 9.07% at June 30, 2013, from 7.76% at June 30, 2012 and 8.50% at December 31, 2012.

At June 30, 2013, the Company's nonperforming assets amounted to $35.7 million, representing 1.05% of total assets, compared to $37.3 million of nonperforming assets, or 1.26% of total assets at June 30, 2012 and $36.0 million of nonperforming assets, or 1.06% of total assets at December 31, 2012. Management continues to remain attentive to early signs of deterioration in borrowers' financial conditions and is proactive in taking the appropriate steps 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 loan losses, at 1.47% of total loans (excluding loans held for sale) at June 30, 2013, is adequate to absorb potential credit losses within the loan portfolio at that date. The allowance for credit losses represented 169% of nonperforming loans at June 30, 2013, as compared to 122% at December 31, 2012 and 104% at June 30, 2012, respectively. The decrease in the allowance for credit losses as a percentage of total loans at June 30, 2013, as compared to March 31, 2013, is due to increased loan growth, a lower environmental reserve and overall improved credit quality in the loan portfolio at June 30, 2013.  Included in nonperforming assets at June 30, 2013 were twelve properties totaling $12.2 million of other real estate owned ("OREO") as compared to nine properties totaling  $4.4 million at June 30, 2012 and eleven properties totaling $5.3 million at December 31, 2012. The increase in OREO from December 31, 2012 is due primarily to two new properties totaling approximately $8.5 million.

Analysis of the three months ended June 30, 2013 compared to June 30, 2012

For the three months ended June 30, 2013, the Company reported an annualized return on average assets ("ROAA") of 1.41% as compared to 1.08% for the three months ended June 30, 2012. The annualized return on average common equity ("ROAE") for the quarter ended June 30, 2013 was 14.75%, as compared to 13.52% for the quarter ended June 30, 2012. The higher ROAA and ROAE ratios for the second quarter of 2013 as compared to 2012 was due primarily to higher noninterest income and improved credit quality and cost management. 

Net interest income increased 12% for the three months ended June 30, 2013 over the same period in 2012, resulting from strong growth in average earning assets of 15%. For the three months ended June 30, 2013, the net interest margin was 4.27% as compared to 4.39% and 4.20% for the three months ended June 30, 2012 and March 31, 2013, respectively.

The provision for credit losses was $2.4 million for the three months ended June 30, 2013 as compared to $4.4 million for the three months ended June 30, 2012. Net charge-offs of $1.5 million in the second quarter of 2013 represented 0.24% of average loans, excluding loans held for sale, as compared to $2.2 million or 0.40% of average loans, excluding loans held for sale, in the second quarter of 2012. Net charge-offs in the second quarter of 2013 were primarily attributable to commercial and industrial loans ($985 thousand), construction loans ($321 thousand) and  the unguaranteed portion of SBA loans ($240 thousand). The lower provisioning in the second quarter of 2013, as compared to the second quarter of 2012, is due to a combination of lower net charge-offs, a lower level of problem loans and a lower level of environmental reserves.

Noninterest income for the three months ended June 30, 2013 increased to $7.1 million from $4.4 million for the three months ended June 30, 2012, a 59% increase. This increase was due primarily to an increase in gains realized on sales of residential mortgage loans ($735 thousand) and gains realized on the sale of SBA loans ($1.4 million) in the second quarter of 2013 as compared to the second quarter of 2012. Other income increased $574 thousand in the second quarter of 2013 as compared to the second quarter of 2012, an 85% increase due substantially to higher loan fee income and income from annuity contracts. There were no investment securities gains for the second quarter of 2013, as compared to investment gains of $148 thousand for the second quarter of 2012. Excluding investment securities gains, total noninterest income was $7.1 million for the second quarter of 2013, as compared to $4.3 million for the second quarter of 2012, an increase of 65%.

The efficiency ratio, which measures the ratio of noninterest expense to total revenue, was 49.33% for the second quarter of 2013, as compared to 52.28% for the second quarter of 2012. Noninterest expenses totaled $20.7 million for the three months ended June 30, 2013, as compared to $18.5 million for the three months ended June 30, 2012, a 12% increase. Cost increases for salaries and benefits were $1.0 million, due to staffing increases primarily as a result of growth since June 30, 2012 in residential lending, as well as additional commercial lending and bank administration personnel merit and benefit cost increases, and increases in incentive pay. Premises and equipment expenses were $458 thousand higher, due to the cost of two new branch offices and normal increases in leasing costs. Data processing expenses increased by $580 thousand due to system enhancements and expanded customer transaction costs. Decreases in legal and professional fees of $432 thousand were due to a decrease in collection costs related to problem loans. The increase in other expenses of $624 thousand was due primarily to costs related to OREO property and other losses.

Analysis of the six months ended June 30, 2013 compared to June 30, 2012

For the six months ended June 30, 2013, the Company reported an ROAA of 1.40% as compared to 1.08% for the six months of 2012, while the ROAE was 15.01% in 2013, as compared to 13.66% for the same six month period in 2012.The higher ROAA and ROAE ratios for the six months of 2013 as compared to 2012 was due primarily to higher noninterest income and improved credit quality and cost management. 

For the first six months of 2013, net interest income increased 17% over the same period for 2012. Average earning assets increased 17%, while the net interest margin was 4.23% for the six months of 2013, as compared to 4.25% for the six months of 2012. Year-to-date in 2013, the Company has been able to maintain its loan portfolio yields relatively close to 2012 levels (5.58% versus 5.70%) due to disciplined loan pricing practices, and also has been able to reduce its cost of money (0.40% versus 0.55%), while maintaining a favorable deposit mix, much of which has occurred from ongoing efforts to increase and deepen client relationships.

The provision for credit losses was $5.7 million for the first six months of 2013 as compared to $8.4 million in 2012. The lower provisioning is due to a combination of lower net charge-offs, a lower level of problem loans and a lower level of environmental reserves. For the six months ended June 30, 2013, net charge-offs totaled $3.6 million (0.28% of average loans) compared to $4.0 million (0.37% of average loans) for the six months ended June 30, 2012. Net charge-offs in the six months ended June 30, 2013 were primarily attributable to charge-offs of commercial and industrial loans ($1.9 million), construction loans ($1.0 million), the unguaranteed portion of SBA loans ($462 thousand), commercial real estate loans ($109 thousand) and  home equity and consumer loans ($66 thousand).

Noninterest income for the first six months of 2013 was $15.2 million compared to $10.5 million in 2012, an increase of 45%. This increase was due primarily to a $2.5 million increase in gains realized on the sale of residential loans and a $1.2 million increase in gains realized on the sale of SBA loans.  Service charges on deposit accounts increased $322 thousand in 2013 as compared to 2012, a 17% increase. Other noninterest income increased by $990 thousand due primarily to increased loan related fees and annuity contract income. Investment gains were $23 thousand in 2013 and $301 thousand in 2012. Excluding investment securities gains, total noninterest income was $15.2 million for the six months of 2013, as compared to $10.2 million for 2012, a 49% increase and represented 18% of total revenue for the first six months of 2013 as compared to 15% in the first six months of 2012.

Noninterest expenses were $41.4 million for the first six months of 2013, as compared to $37.1 million for 2012, a 12% increase. Cost increases for salaries and benefits were $1.8 million primarily due to salaries, incentive compensation and benefits increases, including staffing increases resulting from additional lending and branch personnel. Premises and equipment expenses were $748 thousand higher due primarily to the cost of three new branch offices and normal increases in leasing costs. Data processing costs increased by $863 thousand due to system enhancements and expanded customer transaction costs. Decreases in legal and professional fees of $640 thousand were due primarily to a decrease in collection costs related to problem loans. FDIC insurance premiums were $128 thousand higher due to growth in total assets. Other expenses increased for the first six months of 2013 versus 2012 by $1.5 million, due primarily to establishing a contingency reserve and OREO related costs. For the first six months of 2013, the efficiency ratio improved to 48.94% as compared to 53.06% for the same period in 2012.  

The financial information which follows provides more detail on the Company's financial performance for the six and three months ended June 30, 2013 as compared to the six and three months ended June 30, 2012, 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, 2012 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 operates through eighteen full service branch offices, located in Montgomery County, Maryland, Washington, D.C. and Northern Virginia. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. 

Conference Call: Eagle Bancorp will host a conference call to discuss the second quarter 2013 financial results on Tuesday, July 23, 2013 at 10:00 a.m. eastern daylight time.  The public is invited to listen to this conference call by dialing 1.877.303.6220, conference ID Code is 14955245, 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 August 6, 2013.

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, 2012 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: Michael T. Flynn
         301.986.1800