EXHIBIT 99.1

Eagle Bancorp, Inc. Announces 67% Increase in Earnings for the Second Quarter of 2011, While Maintaining Solid Asset Quality

BETHESDA, Md., July 20, 2011 (GLOBE NEWSWIRE) -- Eagle Bancorp, Inc. (the "Company") (Nasdaq:EGBN), the parent company of EagleBank, today announced record net income of $5.8 million for the quarter ended June 30, 2011, a 67% increase over the $3.4 million for the quarter ended June 30, 2010. Net income available to common shareholders increased 56% to $4.9 million ($0.25 per share basic and $0.24 per share diluted common share), as compared to $3.1 million ($0.16 per basic and diluted common share) for the same three month period in 2010.

For the six months ended June 30, 2011, the Company's net income was $10.9 million, a 59% increase over the $6.8 million for the six months ended June 30, 2010. Net income available to common shareholders was $9.7 million ($0.49 per basic common share and $0.48 per diluted common share), as compared to $6.2 million ($0.32 per basic common share and $0.31 per diluted common share) for the same six month period in 2010, a 56% increase.

"We are extremely pleased to report continuing trends of strong earnings and balance sheet growth through the second quarter of 2011. These results reflect substantial revenue growth, continued growth in loans and core deposits and continued solid asset quality," noted Ronald D. Paul, Chairman, and Chief Executive Officer of Eagle Bancorp, Inc. "Our second quarter 2011 results represent the tenth consecutive quarter of increasing net income. The Company's financial results in the second quarter of 2011, as compared to the same quarter in 2010, have been highlighted by balanced growth from both loans and core deposits, a favorable and improving net interest margin, enhanced noninterest income derived substantially from higher sales of residential mortgages, and improved operating efficiency while continuing to expand our infrastructure," added Mr. Paul. "Additionally, the Company has maintained solid asset quality 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 expanding existing client relationships. This is evidenced by a $444 million increase in portfolio loans in the past twelve months, by a $363 million 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.

For the three months ended June 30, 2011, the Company reported an annualized return on average assets (ROAA) of 1.01% as compared to 0.73% for the three months ended June 30, 2010. The annualized return on average common equity (ROAE) for the most recent quarter was 10.16%, as compared to 7.27% for the three months ended June 30, 2010. The higher ratios for the second quarter of 2011 as compared to 2010 are due primarily to expansion of the net interest margin to 4.32% in the second quarter of 2011 compared to 4.10% for the second quarter in 2010, lower levels of credit losses, improved operating efficiency and balance sheet leverage. For the second quarter of 2011, the Company recognized investment gains amounting to $591 thousand, and also recorded in noninterest expenses one-time charges relating to special event marketing and system conversion related costs, which had a pretax cost to the Company of $660 thousand. Taken together, these three non-recurring items negatively impacted second quarter earnings by $44 thousand after tax. On July 14, 2011 the Company repaid the remaining balance of preferred stock issued to the US Treasury under the Troubled Asset Relief Program ("TARP"). In connection with the repayment, the Company accelerated the discount on the preferred stock, which acceleration amounted to $559 thousand or $0.03 per share for the second quarter 2011.

At June 30, 2011, total assets were $2.35 billion compared to $1.94 billion at June 30, 2010, a 22% increase. Total deposits were $1.94 billion at June 30, 2011 compared to deposits of $1.58 billion at June 30, 2010, while total loans, excluding loans held for sale, increased to $1.95 billion at June 30, 2011, from $1.50 billion at June 30, 2010. Loans held for sale amounted to $25.5 million at June 30, 2011 as compared to $24.5 million at June 30, 2010. The investment portfolio totaled $249.9 million at June 30, 2011, a 5% increase from the $237.0 million balance at June 30, 2010. Total borrowed funds (excluding customer repurchase agreements) were stable at $49.3 million at June 30, 2011 and June 30, 2010. Total shareholders' equity increased to $217.0 million at June 30, 2011, from $196.7 million at June 30, 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 11.36% at June 30, 2011. In addition, the tangible common equity ratio (tangible common equity to tangible assets) ended June 30, 2011 at 8.07%.

At June 30, 2011, the Company's nonperforming assets amounted to $34.7 million, representing 1.47% of total assets, compared to $28.9 million of nonperforming assets, or 1.49% of total assets, at June 30, 2010 and $36.7 million, or 1.68% of total assets, at March 31, 2011. 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 loan losses, at 1.41% of total loans at June 30, 2011, is adequate to absorb potential credit losses within the loan portfolio at that date. Included in nonperforming assets at June 30, 2011 were $3.4 million of other real estate owned ("OREO") as compared to $3.6 million at June 30, 2010 and $3.5 million at March 31, 2011.

Analysis of the three months ended June 30, 2011 compared to 2010

For the three months ended June 30, 2011, the Company reported an ROAA of 1.01% as compared to 0.73% for the three months ended June 30, 2010. The ROAE for the most recent quarter was 10.16%, as compared to 7.27% for the three months ended June 30, 2010. The increase in these ratios is due primarily to a higher net interest margin in the current period versus 2010, increased noninterest income, improved operating efficiency, and balance sheet leverage.

Net interest income increased 28% for the three months ended June 30, 2011 over the same period in 2010, resulting from a 22 basis point increase in the net interest margin and strong balance sheet growth. For the three months ended June 30, 2011, the net interest margin was 4.32% as compared to 4.10% for the three months ended June 30, 2010.

The provision for credit losses was $3.2 million for the three months ended June 30, 2011 as compared to $2.1 million for the three months ended June 30, 2010. At June 30, 2011, the allowance for credit losses represented 1.41% of loans outstanding, as compared to 1.45% at June 30, 2010 and 1.43% at March 31, 2011. The higher provisioning in the second quarter of 2011, as compared to the second quarter of 2010, is attributable to substantially higher loan growth. Net charge-offs of $1.3 million represented 0.28% of average loans, excluding loans held for sale, in the second quarter of 2011, as compared to $1.4 million or 0.38% of average loans, excluding loans held for sale, in the second quarter of 2010. Net charge-offs in the second quarter of 2011 were primarily attributable to charge-offs of commercial real estate loans ($118 thousand), commercial and industrial loans ($1.1 million) and consumer loans ($101 thousand).

At June 30, 2011, the allowance for credit losses represented 88% of nonperforming loans as compared to 77% at March 31, 2011 and 86% at June 30, 2010. The increase in the coverage ratio as compared to the previous quarter is due to a decline in nonperforming loans and an increase in the allowance for credit losses.

Noninterest income for the three months ended June 30, 2011 increased to $3.2 million from $2.0 million for the three months ended June 30, 2010, a 59% increase. This increase was due primarily to increases of $787 thousand in gains realized on the sale of residential loans and $122 thousand of gains on the sale of SBA loans and to $317 thousand from increases in other income primarily associated with loan fee income. Investment gains realized in the second quarter of 2011 amounted to $591 thousand as compared to $573 thousand for the second quarter of 2010. Investment gains in the second quarter of 2011 were the result of asset/liability management decisions to sell a portion of mortgage-backed securities that exhibited prepayment risk.  Excluding investment securities gains, total noninterest income was $2.6 million for the second quarter of 2011 as compared to $1.4 million for the second quarter of 2010, an 82% increase.

The efficiency ratio, which measures the ratio of noninterest expense to total revenue, was 55.13% for the second quarter of 2011, as compared to 63.69% for the second quarter of 2010. As compared to the first quarter of 2011, the second quarter efficiency ratio was lower (from 58.57% to 55.13%) due to increases in revenue (net interest income and noninterest income) substantially offsetting increases in noninterest expenses. Noninterest expenses were $14.9 million for the three months ended June 30, 2011, as compared to $13.1 million for the three months ended June 30, 2010, a 14% increase. This increase includes $291 thousand of non-recurring expenses ($32 thousand for data processing, $60 thousand for legal, accounting and professional fees, and $199 thousand of other expenses) due to system enhancements from a bankwide conversion in April 2011. Cost increases were incurred for salaries and benefits of $1.8 million due substantially to additional commercial lending and support and residential mortgage staff, and to increases in incentive compensation. Premises and equipment expenses were $560 thousand lower due primarily to the benefits from consolidation of two branches during 2010. Marketing and advertising costs increased by $466 thousand due primarily to nonrecurring special event marketing. Data processing costs increased by $269 thousand due to system enhancements and to expanded customer transaction costs. FDIC insurance premiums were $101 thousand less due to lower FDIC premiums which took effect on April 1, 2011. Other expenses decreased by $121 thousand for the period ended June 30, 2011 compared to the same period in 2010, primarily due to a decrease of $216 thousand for the operating and disposition costs of OREO properties.

Analysis of the six months ended June 30, 2011 compared to 2010

For the six months ended June 30, 2011, the Company reported an ROAA of 1.00% as compared to 0.75% for the six months of 2010, while the ROAE was 10.32% in 2011, as compared to 7.32% for the same six month period in 2010. The increase in these ratios was due to a combination of an increase in the net interest margin, resulting primarily from lower funding costs, lower credit losses, increases in noninterest income, improved operating efficiency and balance sheet leverage.  

For the first six months of 2011, net interest income increased 27% over the same period for 2010. Average loans increased $345 thousand and average deposits increased by $333 thousand. The net interest margin was 4.27% for the six months of 2011, as compared to 4.04% for the six months of 2010. The Company has been able to maintain its loan yields in 2011 close to 2010 levels due to loan pricing practices, and has been able to reduce its funding costs while maintaining a favorable deposit mix; much of which has occurred from sales efforts to increase and deepen client relationships.

The provision for credit losses was $5.3 million for the first six months of 2011 as compared to $3.8 million in 2010. The higher provisioning in 2011 as compared to 2010 is attributable to substantially higher amounts of loan growth in the first six months of 2011 compared to 2010, while net charge-offs were slightly lower in 2011 as compared to 2010. For the six months ended June 30, 2011, net charge-offs totaled $2.6 million (0.29% of average loans) compared to $2.7 million (0.37% of average loans) for the six months ended June 30, 2010. Net charge-offs in the six months ended June 30, 2011 were primarily attributable to charge-offs of commercial real estate loans ($151 thousand), commercial and industrial loans ($1.4 million), construction loans ($574 thousand), the unguaranteed portion of SBA loans ($340 thousand) and consumer loans ($100 thousand).

Noninterest income for the first six months of 2011 was $6.1 million compared to $3.2 million in 2010, an increase of 90%. This increase was due primarily to a $2.3 million increase in gains realized on the sale of residential loans and $222 thousand increase in gains realized on the sale of SBA loans. Other noninterest income increased by $370 thousand primarily due to other loan income and ATM fees. Excluding investment securities gains, total noninterest income was $5.5 million for the six months of 2011 as compared to $2.7 million for 2010, a 108% increase.

Noninterest expenses were $29.2 million for the first six months of 2011, as compared to $24.6 million for 2010, a 19% increase. This increase includes $446 thousand of non-recurring expenses ($32 thousand for data processing, $60 thousand for legal, accounting and professional fees, and $354 thousand of other expenses) due to system enhancements from a bankwide conversion in April 2011. Cost increases for salaries and benefits were $3.4 million primarily due to salaries, incentive compensation and benefits increases including staffing increases primarily as a result of expansion of commercial lending and residential mortgage divisions, and legal, accounting, and professional fees increases of $613 thousand, substantially due to higher problem loan collection costs. Premises and equipment expenses were $661 thousand lower due primarily to the consolidation of two branches during 2010. Marketing and advertising costs increased by $453 thousand due primarily to nonrecurring special event marketing. Data processing costs increased by $343 thousand due to system enhancements and to expanded customer transaction costs. FDIC insurance premiums on the higher levels of deposits were only slightly higher in the first six months in 2011 as compared to 2010 due to a lower FDIC premium rate which took effect on April 1, 2011. Other expenses increases for the first six months of 2011 versus 2010 amounted to $462 thousand associated primarily with expenses on disposition of OREO property. For the first six months of 2011, the efficiency ratio improved to 56.76% as compared to 62.96% for the same period in 2010. Cost control remains a key operating objective of the Company.

At June 30, 2011, the Company had a total risk based capital ratio of 11.36%, a Tier 1 risk based capital ratio of 9.68%, and a Tier 1 leverage ratio of 9.07%, all measures substantially above the regulatory requirements for well capitalized status.

As reported on July 14, 2011, the Company further enhanced its capital position by receiving $56.6 million through the closing of its participation in the Small Business Lending Fund, which capital qualifies as Tier 1 capital. The Company qualified for an initial dividend rate of 1% on this funding. Simultaneously, the Company repaid the balance of $23.2 million under TARP. The dividend rate on the l TARP had been 5%. The additional capital ($33.4 million) will allow the Company to increase its lending activities; primarily in commercial loans and owner occupied commercial real estate loans.   

The financial information which follows provides more detail on the Company's financial performance for the six and three months ended June 30, 2011 as compared to the six and three months ended June 30, 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 second quarter 2011 financial results on Thursday July 21, 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 80291230, 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 04, 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: Michael T. Flynn
         301.986.1800