Exhibit 99.1

EAGLE BANCORP, INC. ANNOUNCES ITS 30TH CONSECUTIVE QUARTER OF RECORD EARNINGS WITH SECOND QUARTER 2016 NET INCOME UP 15%

OVER 2015

BETHESDA, MD. Eagle Bancorp, Inc. (the “Company”) (NASDAQ:EGBN), the parent company of EagleBank, today announced record quarterly net income of $24.1 million for the three months ended June 30, 2016, a 15% increase over the $20.9 million net income for the three months ended June 30, 2015. Net income available to common shareholders for the three months ended June 30, 2016 increased 16% to $24.1 million as compared to $20.8 million for the same period in 2015.

Net income per basic common share for the three months ended June 30, 2016 was $0.72 compared to $0.62 for the same period in 2015, a 16% increase. Net income per diluted common share for the three months ended June 30, 2016 was $0.71 compared to $0.61 for the same period in 2015, a 16% increase.

For the six months ended June 30, 2016, the Company’s net income was $47.5 million, an 18% increase over the $40.4 million for the six months ended June 30, 2015. Net income available to common shareholders was $47.5 million ($1.41 per basic common share and $1.39 per diluted common share), as compared to $40.0 million ($1.24 per basic common share and $1.22 per diluted common share) for the same six month period in 2015, a 14% increase per basic and diluted share.

“We are very pleased to report a continued quarterly trend of balanced and consistently strong financial performance,” noted Ronald D. Paul, Chairman and Chief Executive Officer of Eagle Bancorp, Inc. “Our net income has increased for 30 consecutive quarters dating back to the first quarter of 2009.  We are proud that this performance has been the result of a combination of balance sheet growth, revenue growth, solid asset quality, and improved operating leverage.” Mr. Paul added, “the strong financial performance trends have been a factor of both solid organic growth as well as favorable integration since completing the merger with Virginia Heritage Bank in the fourth quarter of 2014.”

The Company’s financial performance in the second quarter of 2016 as compared to 2015 was highlighted by growth in total loans of 5% for the quarter and 19% over the prior year; by growth in total deposits of 3% for the quarter and 11% over the prior year; by 12% growth in total revenue for the second quarter of 2016 over 2015; by a stable net interest margin of 4.30%; by an annualized net charge-off ratio to average loans of 0.15% and by further improvement in operating leverage from an already favorable position. For the second quarter in 2016, the efficiency ratio was 39.63%. Mr. Paul added, “at a time when the net interest margin of banks is being challenged by the continuing low interest rate environment, the Company remains committed to cost management measures and strong productivity.” The strong second quarter earnings resulted in an annualized return on average assets (“ROAA”) of 1.57% and an annualized return on average common equity (“ROACE”) of 12.40%.

For the first six months of 2016, total loans grew 8% over December 31, 2015, and averaged 16% higher in the first six months of 2016 as compared to the first six months of 2015. At June 30, 2016, total deposits were 3% higher than deposits at December 31, 2015, while deposits averaged 15% higher for the first six months of 2016 compared with the first six months of 2015.

The net interest margin was 4.30% for the second quarter of 2016, as compared to 4.33% for the second quarter of 2015. For the six month period ended June 30, 2016, the net interest margin was also 4.30% as compared to 4.37% for the six months ended June 30, 2015. Mr. Paul noted, “the persistently very low interest rate environment has provided a challenging time for spread earnings. In the current environment, the Company has continued its emphasis on disciplined pricing for both new loans and funding sources, which has resulted in the Company maintaining a superior net interest margin. The Company’s focus continues to be on all the factors that contribute to earnings per share growth, as opposed to dependence on any one factor.”

Total revenue (net interest income plus noninterest income) for the second quarter of 2016 was $71.4 million, or 12% above the $63.8 million of total revenue earned for the second quarter of 2015 and was 4% higher than the $68.9 million of revenue earned in the first quarter of 2016. For the six month periods, total revenue was $140.3 million for 2016, as compared to $126.3 million in 2015, an 11% increase.

The primary driver of the Company’s revenue growth for the second quarter of 2016 as compared to the second quarter in 2015 was its net interest income growth of 11% ($63.8 million versus $57.6 million).  Noninterest income increased by 22% in the second quarter 2016 over 2015, due substantially to higher sales of Small Business Administration (“SBA”) loans and the resulting gains on the sale of these loans, higher gains on sales of investment securities, and higher service charges on deposits.

Asset quality measures remained solid at June 30, 2016. Net charge-offs (annualized) were 0.15% of average loans for the second quarter of 2016, as compared to 0.21% of average loans for the second quarter of 2015. At June 30, 2016, the Company’s nonperforming loans amounted to $21.4 million (0.40% of total loans) as compared to $14.9 million (0.33% of total loans) at June 30, 2015 and $13.2 million (0.26% of total loans) at December 31, 2015. Nonperforming assets amounted to $24.5 million (0.39% of total assets) at June 30, 2016 compared to $25.6 million (0.44% of total assets) at June 30, 2015 and $19.1 million (0.31% of total assets) at December 31, 2015.

Management continues to remain attentive to any 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 credit losses, at 1.05% of total loans (excluding loans held for sale) at June 30, 2016, is adequate to absorb potential credit losses within the loan portfolio at that date. The allowance for credit losses was 1.07% at June 30, 2015 and 1.05% of total loans at December 31, 2015. The allowance for credit losses represented 264% of nonperforming loans at June 30, 2016, as compared to 329% at June 30, 2015 and 398% at December 31, 2015.

“The Company’s productivity remained quite strong in the quarter,” noted Mr. Paul. The efficiency ratio of 39.63% reflects management’s ongoing efforts to maintain superior operating leverage. The annualized level of noninterest expenses as a percentage of average assets has declined to 1.83% in the second quarter of 2016 as compared to 1.91% in the second quarter of 2015. The merger completed in the fourth quarter of 2014 accelerated a trend of improvement in the Company’s operating leverage which continues. A relatively stable staff, branch rationalization, a low level of problem assets, and leveraging of other fixed costs have been the major reasons for improved operating leverage. Additionally, the Company continues its efforts to maximize the value of its IT systems and resources, including its online client services. Our goal is to maximize operating performance without inhibiting growth or negatively impacting our ability to service our customers. Mr. Paul further noted, “We will maintain strict oversight of expenses, while retaining an infrastructure to remain competitive, support our growth initiatives and manage risk.”

Total assets at June 30, 2016 were $6.37 billion, an 11% increase as compared to $5.75 billion at June 30, 2015, and a 5% increase as compared to $6.08 billion at December 31, 2015. Total loans (excluding loans held for sale) were $5.40 billion at June 30, 2016, a 19% increase as compared to $4.55 billion at June 30, 2015, and an 8% increase as compared to $5.00 billion at December 31, 2015. Loans held for sale amounted to $59.3 million at June 30, 2016 as compared to $132.7 million at June 30, 2015, a 55% decrease, and $47.5 million at December 31, 2015, a 25% increase. The investment portfolio totaled $409.5 million at June 30, 2016, a 3% decrease from the $423.7 million balance at June 30, 2015. As compared to December 31, 2015, the investment portfolio at June 30, 2016 decreased by $78.4 million or 16%.

Total deposits at June 30, 2016 were $5.34 billion, compared to deposits of $4.83 billion at June 30, 2015, an 11% increase, and deposits of $5.16 billion at December 31, 2015, a 3% increase. Total borrowed funds (excluding customer repurchase agreements) were $119.0 million at June 30, 2016, $72.9 million at June 30, 2015 and $68.9 million at December 31, 2015. We continue to work on expanding the breadth and depth of our existing relationships while we pursue building new relationships.

Total shareholders’ equity at June 30, 2016 increased 3%, to $788.6 million, compared to $765.1 million at June 30, 2015, and increased 7%, from $738.6 million at December 31, 2015. The smaller increase in shareholders’ equity at June 30, 2016 compared to the same period in 2015 reflects increased earnings offset by the redemption of all $71.9 million of the preferred stock issued under the Small Business Lending Fund (“SBLF”) during the fourth quarter of 2015. The Company’s capital position remains substantially in excess of regulatory requirements for well capitalized status, with a total risk based capital ratio of 12.71% at June 30, 2016, as compared to 13.75% at June 30, 2015, and 12.75% at December 31, 2015. In addition, the tangible common equity ratio was 10.88% at June 30, 2016, compared to 10.34% at June 30, 2015 and 10.56% at December 31, 2015.

Analysis of the three months ended June 30, 2016 compared to June 30, 2015

For the three months ended June 30, 2016, the Company reported an annualized ROAA of 1.57% as compared to 1.51% for the three months ended June 30, 2015. The annualized ROACE for the three months ended June 30, 2016 was 12.40%, as compared to 12.18% for the three months ended June 30, 2015. The higher ROACE during the three months ended June 30, 2016 is due to increased earnings partially offset by the impact of a higher average capital position.

Net interest income increased 11% for the three months ended June 30, 2016 over the same period in 2015 ($63.8 million versus $57.6 million), resulting from growth in average earning assets of 12%. The net interest margin was 4.30% for the three months ended June 30, 2016, as compared to 4.33% for the three months ended June 30, 2015. The Company believes its net interest margin remains favorable compared to peer banking companies and that its disciplined approach to managing the loan portfolio yield to 5.10% for the second quarter in 2016 has been a significant factor in its overall profitability.

The provision for credit losses was $3.9 million for the three months ended June 30, 2016 as compared to $3.5 million for the three months ended June 30, 2015. The higher provisioning in the second quarter of 2016, as compared to the second quarter of 2015, is primarily due to loan growth, as loan growth of $247.6 million in the three months ended June 30, 2016 exceeded net loan growth of $106.0 million in the same period in 2015, and to overall improved asset quality. Net charge-offs of $2.0 million in the second quarter of 2016 represented an annualized 0.15% of average loans, excluding loans held for sale, as compared to $2.3 million, or an annualized 0.21% of average loans, excluding loans held for sale, in the second quarter of 2015. Net charge-offs in the second quarter of 2016 were attributable primarily to commercial loans ($1.9 million).

Noninterest income for the three months ended June 30, 2016 increased to $7.6 million from $6.2 million for the three months ended June 30, 2015, a 22% increase. This increase was primarily due to an increase of $820 thousand in gains on the sale of SBA loans, an increase in gains realized on the sale of investment securities of $498 thousand, and an increase in service charges on deposits of $141 thousand. There was a small decline in gains on sales of residential mortgages of $122 thousand. Residential mortgage loans closed were $214 million for the second quarter in 2016 versus $264 million for the second quarter of 2015. Net investment gains were $498 thousand for the three months ended June 30, 2016. There were no net investment gains for the three months ended June 30, 2015. Excluding gains on sales of investment securities in the second quarter of 2016, noninterest income was $7.1 million in the second quarter of 2016 as compared to $6.2 million for the second quarter of 2015, an increase of 14%.

The efficiency ratio, which measures the ratio of noninterest expense to total revenue, was 39.63% for the second quarter of 2016, as compared to 41.70% for the second quarter of 2015. Noninterest expenses totaled $28.3 million for the three months ended June 30, 2016, as compared to $26.6 million for the three months ended June 30, 2015, a 6% increase. Cost increases for salaries and benefits were $1.2 million, due primarily to increased staff, merit increases and incentive compensation. Premises and equipment expenses were $265 thousand lower, due primarily to the closing of one branch office acquired in the merger, and transactions to reduce space in two additional offices. Marketing and advertising expense increased by $185 thousand primarily due to costs associated with digital and print advertising and sponsorships. Legal, accounting and professional fees increased by $141 thousand primarily due to increased professional fees. Other expenses increased by $480 thousand primarily due to higher broker fees and other expenses.

Analysis of the six months ended June 30, 2016 compared to June 30, 2015

For the six months ended June 30, 2016, the Company reported an annualized ROAA of 1.56% as compared to 1.50% for the six months ended June 30, 2015. The annualized ROACE for the six months ended June 30, 2016 was 12.39%, as compared to 12.67% for the six months ended June 30, 2015, the lower ROACE due to the higher average capital position.

Net interest income increased 13% for the six months ended June 30, 2016 over the same period in 2015 ($126.4 million versus $112.3 million), resulting from growth in average earning assets of 14%. The net interest margin was 4.30% for the six months ended June 30, 2016 as compared to 4.37% for the same period in 2015. The Company believes its net interest margin remains favorable compared to peer banking companies and that its disciplined approach to managing the loan portfolio yield to 5.11% for the first six months in 2016 has been a significant factor in its overall profitability. Additionally, the percentage of average noninterest bearing deposits to total deposits was 30% for the first six months in 2016 versus 27% for the same period in 2015.

The provision for credit losses was $6.9 million for the six months ended June 30, 2016 as compared to $6.8 million for the six months ended June 30, 2015. The slightly higher provisioning in the first six months of 2016, as compared to the first six months of 2015, is due to higher loan growth, as net loans increased $405.1 million during the first six months of 2016, as compared to an increase of $238.5 during the same period in 2015, and to overall improved asset quality. Net charge-offs of $3.1 million in the first six months of 2016 represented an annualized 0.12% of average loans, excluding loans held for sale, as compared to $3.9 million or an annualized 0.18% of average loans, excluding loans held for sale, in the first six months of 2015. Net charge-offs in the first six months of 2016 were attributable primarily to commercial ($2.6 million) and investment-commercial real estate loans ($585 thousand).

Noninterest income for the six months ended June 30, 2016 was $13.9 million as compared to $14.0 million for the six months ended June 30, 2015, a 1% decrease. This decrease was primarily due to a decline of $2.1 million in gains on the sale of residential mortgage loans due to lower origination and sales volume, a $926 thousand increase in other income, an increase of $723 thousand in gains on SBA loan sales, and an increase of $256 thousand in service charges on deposits. Residential mortgage loans closed were $346 million for the first six months of 2016 versus $549 million for the first six months of 2015. Excluding investment securities gains and the related loss on early extinguishment of debt, total noninterest income was $12.7 million for the six months ended June 30, 2016, as compared to $13.0 million for the same period in 2015, a 2% decrease.

Noninterest expenses totaled $56.4 million for the six months ended June 30, 2016, as compared to $54.7 million for the six months ended June 30, 2015, a 3% increase. Cost increases for salaries and benefits were $1.6 million, due primarily to increased staff, merit increases, and incentive compensation. Premises and equipment expenses were $449 thousand lower, primarily due to the closing of one branch acquired in the merger and to sublease arrangements. Marketing and advertising expense increased by $274 thousand primarily due to costs associated with digital and print advertising and sponsorships. Legal, accounting and professional fees increased by $222 thousand primarily due to increased professional fees. Data processing expense increased $215 thousand primarily due to licensing agreements. For the first six months of 2016, the efficiency ratio was 40.20% as compared to 43.28% for the same period in 2015.

The financial information which follows provides more detail on the Company’s financial performance for the six and three months ended June 30, 2016 as compared to the six and three months ended June 30, 2015 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, 2015 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 twenty 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 its second quarter 2016 financial results on Thursday, July 21, 2016 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 42765255, 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 4, 2016.

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, 2015 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.

Eagle Bancorp, Inc.

Consolidated Financial Highlights (Unaudited)

(dollars in thousands, except per share data)

(1)         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 and as such is 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.

GAAP Reconciliation (Unaudited)

(dollars in thousands except per share data)

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

(3)         Excludes loans held for sale.

Eagle Bancorp, Inc.

Consolidated Balance Sheets (Unaudited)

(dollars in thousands, except per share data)

Eagle Bancorp, Inc.

Consolidated Statements of Operations (Unaudited)

(dollars in thousands, except per share data)

Eagle Bancorp, Inc.

Consolidated Average Balances, Interest Yields And Rates (Unaudited)

(dollars in thousands)

(1) Loans placed on nonaccrual status are included in average balances. Net loan fees and late charges included in interest income on loans totaled $3.7 million and $2.9 million for the three months ended June 30, 2016 and 2015, respectively.

(2) Interest and fees on loans and investments exclude tax equivalent adjustments.

Eagle Bancorp, Inc.

Consolidated Average Balances, Interest Yields and Rates (Unaudited)

(dollars in thousands)