EXHIBIT 99.1

Eagle Bancorp, Inc. Announces a 22% Increase in Earnings for the Third Quarter of 2013, With Assets Exceeding $3.5 Billion

BETHESDA, Md., Oct. 21, 2013 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company") (Nasdaq:EGBN), the parent company of EagleBank, today announced record quarterly net income of $11.8 million for the quarter ended September 30, 2013, a 22% increase over the $9.7 million net income for the quarter ended September 30, 2012. Net income available to common shareholders for the quarter ended September 30, 2013 increased 22% to $11.6 million ($0.45 per basic common share and $0.44 per diluted common share), as compared to $9.5 million ($0.41 per basic common share and $0.40 per diluted common share) for the same period in 2012.

For the nine months ended September 30, 2013, the Company's net income was $35.0 million, a 40% increase over the $25.1 million for the nine months ended September 30, 2012. Net income available to common shareholders was $34.6 million ($1.35 per basic common share and $1.31 per diluted common share), as compared to $24.7 million ($1.09 per basic common share and $1.07 per diluted common share) for the same nine month period in 2012, a 40% increase. Per share amounts for all prior periods have been adjusted to reflect the 10% stock dividend distributed on June 14, 2013.

"We are pleased to report another quarter of strong financial performance, highlighted by continued core balance sheet growth, net interest margin gains and lower credit losses from an already favorable asset quality position," noted Ronald D. Paul, Chairman and Chief Executive Officer of Eagle Bancorp, Inc. "This quarter's net income is the 19^th consecutive quarter of increasing net income dating to the first quarter in 2009. Total loans grew by close to 4% in the third quarter 2013 and total deposits grew by over 3%. The net interest margin was 4.31% in the third quarter or 4 basis points above the second quarter of 2013. The Company is particularly pleased with the low levels of annualized net charge-offs for the third quarter 2013 of just 0.20%, which continues a three quarter trend of lower quarterly net credit losses in both dollars and as a percentage of average loans," noted Mr. Paul.

The Company's total revenue of $41.9 million was equal to that of the second quarter of 2013 and was 10% above the total revenue of $38.2 million for the third quarter in 2012. Mr. Paul noted that "the Company has been able to sustain its primary focus on building core banking relationships, and maintaining a disciplined approach to loan and deposit pricing, and to assembling a portfolio of high quality assets. Upholding these focal points results in more consistent and balanced financial performance and enabled the bank to offset reduced third quarter revenue from its residential lending operations."

For the third quarter of 2013, revenue from residential mortgage banking net interest income and fees was 5.9% of total revenue versus 7.6% of total revenue for the third quarter of 2012. For the first nine months of 2013, the Company produced 8.8% of total revenue from its residential mortgage division net interest income and fees, as compared to 8.6% of total revenue for the same period in 2012. The Company continues to assess its residential mortgage loan area in light of higher market interest rates and lower refinance activity.

"According to the recently reported FDIC deposit statistics, as of June 30, 2013, EagleBank has the largest market share of any community bank in the Washington metropolitan area. As compared to the prior year, the bank experienced growth in total deposits that was among the highest growth rates of banks in the area, resulting in an increase in EagleBank's market share of total deposits," noted Mr. Paul.

Lastly, Mr. Paul noted "That the Company continues to place strategic emphasis on SBA lending and EagleBank's preferred lender status. SBA sales activity in the third quarter was stronger than the same period in 2012, but was below the sales activity of the second quarter 2013. We believe SBA lending will continue to be a strong part of our business."

Total revenue (net interest income plus noninterest income) was $41.9 million for the third quarter of 2013 as compared to $38.2 million for the third quarter in 2012, a 10% increase. For the first nine months of 2013, total revenue was $126.5 million, 17% higher than the $108.1 million for the first nine months in 2012.

At September 30, 2013, total assets were $3.50 billion, compared to $2.98 billion at September 30, 2012, an 18% increase. As compared to December 31, 2012, total assets at September 30, 2013 increased by $95 million, or 3%. Total loans (excluding loans held for sale) were $2.80 billion at September 30, 2013 compared to $2.40 billion at September 30, 2012, a 17% increase. As compared to December 31, 2012, total loans at September 30, 2013 increased by $304 million, a 12% increase. Total deposits were $2.98 billion at September 30, 2013, compared to deposits of $2.51 billion at September 30, 2012, a 19% increase. As compared to December 31, 2012, total deposits at September 30, 2013 increased by $87 million, a 3% increase. The level of deposit gains year-to-date in 2013 was significantly impacted by a loss of $130 million of bankruptcy trustee deposits in March 2013 earlier reported and related to the expiration of the TAG program. Loans held for sale amounted to $39.2 million at September 30, 2013 as compared to $171.2 million at September 30, 2012, a 77% decrease. As compared to December 31, 2012 loans held for sale decreased by $188 million, an 83% decrease.

The investment portfolio totaled $355.8 million at September 30, 2013, a 20% increase from the $296.4 million balance at September 30, 2012. As compared to December 31, 2012, the investment portfolio at September 30, 2013 increased by $56.0 million, a 19% increase. Total borrowed funds (excluding customer repurchase agreements) were $39.3 million at September 30, 2013, September 30, 2012 and December 31, 2012. Total shareholders' equity increased to $382.1 million at September 30, 2013, compared to $324.4 million and $350.0 million at September 30, 2012 and December 31, 2012, respectively, reflecting growth in retained earnings and common stock raises completed in October 2012. The Company's capital position remains substantially in excess of regulatory requirements for well capitalized status, with a total risk based capital ratio of 13.12% at September 30, 2013, as compared to a total risk based capital ratio of 12.24% at September 30, 2012 and 12.20% at December 31, 2012. In addition, the tangible common equity ratio (tangible common equity to tangible assets) increased to 9.19% at September 30, 2013, from 8.88% at September 30, 2012 and 8.50% at December 31, 2012.

At September 30, 2013, the Company's nonperforming assets amounted to $38.8 million, representing 1.11% of total assets, compared to $37.3 million of nonperforming assets, or 1.25% of total assets at September 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 1.42% of total loans (excluding loans held for sale) at September 30, 2013, is adequate to absorb potential credit losses within the loan portfolio at that date. The allowance for credit losses represented 144% of nonperforming loans at September 30, 2013, as compared to 122% at December 31, 2012 and 110% at September 30, 2012, respectively. The slight decrease in the allowance for credit losses as a percentage of total loans at September 30, 2013, as compared to June 30, 2013, from 1.47% to 1.42%, is due to increased loan growth, and overall improved credit quality in the loan portfolio at September 30, 2013.

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

For the three months ended September 30, 2013, the Company reported an annualized return on average assets ("ROAA") of 1.35% as compared to 1.27% for the three months ended September 30, 2012. The annualized return on average common equity ("ROAE") for the quarter ended September 30, 2013 was 14.37%, as compared to 15.20% for the quarter ended September 30, 2012. The higher ROAA ratio for third quarter of 2013 as compared to 2012 was due primarily to improved credit quality, and resulting lower provision expense, and cost management. The lower ROAE ratio for the third quarter of 2013 as compared to 2012 was attributable in part to the additional capital raised during the At The Market equity offering and following an underwritten offering which occurred primarily during the third and fourth quarters of 2012.

Net interest income increased 10.2% for the three months ended September 30, 2013 over the same period in 2012, resulting from strong growth in average earning assets of 13.6%. For the three months ended September 30, 2013, the net interest margin was 4.31% as compared to 4.44% and 4.27% for the three months ended September 30, 2012 and June 30, 2013, respectively. The Company believes its net interest margin remains favorable to peer banking companies and that its disciplined approach to managing its loan portfolio yield to 5.48% for the third quarter of 2013 has been a significant factor in its overall profitability.   

The provision for credit losses was $1.4 million for the three months ended September 30, 2013 as compared to $3.6 million for the three months ended September 30, 2012. Net charge-offs of $1.3 million in the third quarter of 2013 represented 0.20% of average loans, excluding loans held for sale, as compared to $2.1 million or 0.36% of average loans, excluding loans held for sale, in the third quarter of 2012, a 38% dollar decline. Net charge-offs in the third quarter of 2013 were attributable to commercial and industrial loans ($722 thousand), construction loans ($294 thousand), the unguaranteed portion of SBA loans ($158 thousand) and commercial real estate loans ($118 thousand). The lower provisioning in the third quarter of 2013, as compared to the third quarter of 2012, is due to a combination of lower net charge-offs, and overall improved asset quality in the loan portfolio.

Noninterest income for the three months ended September 30, 2013 increased to $5.2 million from $4.9 million for the three months ended September 30, 2012, an 8% increase. This increase was primarily due to a combination of an increase in service charges income of $127 thousand, higher income from Bank Owned Life Insurance of $131 thousand, higher loan fees and annuity income of $268 thousand, and higher income from sales of SBA loans of $323 thousand, partially offset by lesser gains on the sale of residential mortgage loans of $529 thousand. A $529 thousand loss on the early extinguishment of debt was recorded in September of 2012 due to the restructuring of a Federal Home Loan Bank advance. There were no investment securities gains for the third quarter of 2013, as compared to investment gains of $464 thousand for the third quarter of 2012. Excluding investment securities gains and the loss on the early extinguishment of debt in the third quarter of 2012, total noninterest income was $5.2 million for the third quarter of 2013, as compared to $4.9 million for the third quarter of 2012, an increase of 7%.

The efficiency ratio, which measures the ratio of noninterest expense to total revenue, was 51.68% for the third quarter of 2013, as compared to 50.07% for the third quarter of 2012. As a percentage of average assets, total noninterest expense improved to 2.48% for the third quarter in 2013 as compared to 2.51% for the same period in 2012. Noninterest expenses totaled $21.7 million for the three months ended September 30, 2013, as compared to $19.1 million for the three months ended September 30, 2012, a 13% increase. Cost increases for salaries and benefits were $1.4 million, due to staffing increases primarily as a result of growth since September 30, 2012 in commercial lending and branch personnel, merit and benefit cost increases, and increases in incentive compensation. Premises and equipment expenses were $660 thousand higher, due to the cost of two new branch offices and increases in leasing costs. Data processing expenses increased by $320 thousand due to system enhancements and increased customer transaction expenses. The increase in other expenses of $267 thousand was due primarily to costs related to OREO property and other losses.

Analysis of the nine months ended September 30, 2013 compared to September 30, 2012

For the nine months ended September 30, 2013, the Company reported an ROAA of 1.38% as compared to 1.15% for the nine months of 2012, while the ROAE was 14.79% in 2013, as compared to 14.21% for the same nine month period in 2012. The higher ROAA and ROAE ratios for the nine months of 2013 as compared to 2012 was due primarily to higher noninterest income, improved credit quality and cost management.  

For the first nine months of 2013, net interest income increased 14.3% over the same period for 2012. Average earning assets increased 16.1%, while the net interest margin was 4.25% for the nine months of 2013, as compared to 4.32% for the nine months of 2012. Year-to-date in 2013, the Company has been able to maintain its loan portfolio yields relatively close to 2012 levels (5.55% versus 5.69%) due to disciplined loan pricing practices, and also has been able to reduce its cost of funds (0.39% versus 0.51%), while maintaining a favorable deposit mix, largely resulting from ongoing efforts to increase and expand client relationships.

The provision for credit losses was $7.1 million for the first nine months of 2013 as compared to $12.1 million in 2012. The lower provisioning is due to a combination of lower net charge-offs, a lower level of nonperforming loans and overall improvement in asset quality. For the nine months ended September 30, 2013, net charge-offs totaled $4.9 million (0.25% of average loans) compared to $6.1 million (0.37% of average loans) for the nine months ended September 30, 2012, a dollar decline of 20%. Net charge-offs in the nine months ended September 30, 2013 were primarily attributable to charge-offs of commercial and industrial loans ($2.6 million), construction loans ($1.3 million), the unguaranteed portion of SBA loans ($620 thousand), commercial real estate loans ($227 thousand) and home equity and consumer loans ($101 thousand).

Noninterest income for the first nine months of 2013 was $20.4 million compared to $15.3 million in 2012, an increase of 33.4%. This increase was due primarily to a $2.0 million increase in gains realized on the sale of residential loans, a $1.5 million increase in gains realized on the sale of SBA loans, a $449 thousand increase on service charges on deposit accounts and a $1.3 million increase on other noninterest income due primarily to increased loan related fees and annuity. Additionally bank owned life insurance income increased due to new investments. Investment gains were $23 thousand in 2013 and $765 thousand in 2012. A $529 thousand loss on the early extinguishment of debt was recorded in September of 2012 due to the restructuring of a Federal Home Loan Bank advance. Excluding investment securities gains and the loss on the early extinguishment of debt, total noninterest income was $20.4 million for the nine months of 2013, as compared to $15.1 million for 2012, a 35% increase, and represented 16% of total revenue for the first nine months of 2013 as compared to 14% in the first nine months of 2012.

The efficiency ratio improved to 49.85% for the nine months ended September 30, 2013 from 52.00% for the same period in 2012. As a percentage of average assets, total noninterest expenses improved to 2.48% for the first nine months in 2013 from 2.58% for the same period in 2012. Total noninterest expenses were $63.1 million for the first nine months of 2013, as compared to $56.2 million for 2012, a 12% increase. Cost increases for salaries and benefits were $3.2 million, primarily due to increased salaries, incentive compensation and benefits increases, and staffing increases resulting from additional lending and branch personnel. Premises and equipment expenses were $1.4 million higher due primarily to the cost of three new branch offices and increases in leasing costs. Data processing costs increased by $1.2 million due to system enhancements and increased customer transaction expenses. Decreases in legal and professional fees of $729 thousand were due primarily to declines in collection costs related to problem loans. FDIC insurance premiums were $227 thousand higher due to growth in total assets. Other expenses increased for the first nine months of 2013 versus 2012 by $1.7 million, due primarily to a nonrecurring expense and increased OREO related costs.

The financial information which follows provides more detail on the Company's financial performance for the nine and three months ended September 30, 2013 as compared to the nine and three months ended September 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 third quarter 2013 financial results on Tuesday, October 22, 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 75257711, 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 November 5, 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.

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

(2) The Company considers the following non-GAAP measurements useful for investors, regulators, management and others to evaluate capital adequacy and to compare against other financial institutions. The table below provides a reconciliation of these non-GAAP financial measures with financial measures defined by GAAP.

Tangible common equity to tangible assets (the "tangible common equity ratio") and tangible book value per common share are non-GAAP financial measures derived from GAAP-based amounts. The Company calculates the tangible common equity ratio by excluding the balance of intangible assets from common shareholders' equity and dividing by tangible assets. The Company calculates tangible book value per common share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which the Company calculates by dividing common shareholders' equity by common shares outstanding. The Company considers this information important to shareholders' as tangible equity is a measure that is consistent with the calculation of capital for bank regulatory purposes, which excludes intangible assets from the calculation of risk based ratios.

(3) Computed by dividing noninterest expense by the sum of net interest income and noninterest income.

CONTACT: EAGLE BANCORP, INC.
         Michael T. Flynn
         301.986.1800