Welcome to our dedicated page for Eagle Bancorp Montana news (Ticker: EBMT), a resource for investors and traders seeking the latest updates and insights on Eagle Bancorp Montana stock.
Eagle Bancorp Montana, Inc. (symbol: EBMT) operates as the bank holding company for Opportunity Bank of Montana. Founded with a mission to provide strong financial futures for Montanans, the company has grown into a robust $710 million institution renowned for its community banking services. The bank offers a comprehensive range of financial products including residential loans, commercial real estate loans, commercial loans, consumer loans, and home equity loans.
With a significant geographic footprint, Opportunity Bank of Montana features multiple branches in key locations such as Helena, Big Timber, Billings, Bozeman, Butte, Great Falls, Hamilton, Livingston, Missoula, and Townsend. The bank also maintains mortgage loan offices in Missoula and Bozeman, as well as a commercial loan office in Great Falls, ensuring accessibility to diverse clientele across the state.
The company’s suite of deposit services encompasses checking, savings, money market, individual retirement accounts, and certificates of deposit, providing customers with versatile banking solutions. As a diversified lender, Eagle Bancorp Montana Inc. places a strong emphasis on residential mortgage loans, commercial real estate mortgage loans, commercial business loans, agricultural loans, and second mortgage/home equity loan products.
Recent achievements include the announcement of a quarterly cash dividend of $0.14 per share, reflecting the company's steady financial performance and commitment to delivering shareholder value. Eagle Bancorp Montana Inc. continues to uphold its century-long tradition of community engagement and financial stewardship.
Latest News:
- Declares Quarterly Cash Dividend of $0.14 Per Share
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) has successfully completed its acquisition of First Community Bancorp, Inc. and First Community Bank, effective April 30, 2022. Valued at approximately $38.6 million, the deal involves Eagle acquiring nine branches and $338 million in assets, including $320 million in deposits and $194 million in gross loans. Following the merger, Eagle now operates 32 branches across Montana. The merger is expected to enhance Eagle's market presence while Samuel D. Waters joins the Eagle Board.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) corrected its earnings release, reporting a net income of $2.2 million or $0.34 per diluted share for Q1 2022, down from $5.3 million or $0.78 in Q1 2021 but up from $1.7 million or $0.26 in Q4 2021. The company declared a quarterly dividend of $0.125 per share, payable June 3, 2022. Total loans increased by 15.6% to $958.7 million year-over-year, while total deposits rose 16.2% to $1.27 billion. The board authorized a stock repurchase plan for up to 400,000 shares, anticipated to enhance shareholder value amidst recent regulatory approvals for the First Community acquisition.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a net income of $2.1 million, or $0.32 per diluted share, for Q1 2022, down from $5.3 million, or $0.78 per diluted share, a year prior. The company experienced a 19.5% increase over the previous quarter’s income of $1.7 million. The board declared a quarterly cash dividend of $0.125 per share, yielding 2.26%. Total loans rose 15.6% to $958.7 million, while total deposits increased 16.2% to $1.27 billion. A stock repurchase plan for up to 400,000 shares was authorized, signaling confidence in shareholder value.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced the retirement of President and CEO Peter J. Johnson at the end of 2022. Laura Clark, currently EVP and CFO, will succeed him on April 1, 2022. Johnson, who led the company since 2007, oversaw significant growth, increasing assets from $240 million in 2007 to $1.44 billion in 2021. Clark brings extensive banking experience, having joined the company in 2014. Additionally, Miranda Spaulding will be promoted to Senior VP/CFO on the same date, ensuring continuity in leadership.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a net income of $1.7 million ($0.26 per diluted share) for Q4 2021, falling from $5.2 million ($0.76 per diluted share) in Q4 2020. Full-year net income was $14.4 million ($2.17 per diluted share), down from $21.2 million ($3.11 per diluted share) in 2020. Total loans rose 10.9% to $933.1 million year-over-year, while total deposits increased 18.3% to $1.22 billion. A quarterly dividend of $0.125 per share was declared. The company anticipates a merger with First Community Bancorp, which will enhance its market presence.
Eagle Bancorp Montana, Inc. (Nasdaq: EBMT) announced the issuance and sale of $40 million in subordinated notes at a fixed rate of 3.50% to institutional investors. The notes, maturing on February 1, 2032, will transition to a floating rate after 2027. The net proceeds, estimated at $39.1 million, will help refinance existing senior notes and support the acquisition of First Community Bancorp. This capital bolsters Tier 2 capital for regulatory purposes. The CEO emphasized the importance of this move for operational growth and addressing client demand.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported third-quarter net income of $4.7 million ($0.73 per diluted share), down from $6.4 million ($0.94 per diluted share) a year prior, but up from $2.7 million in the previous quarter. Year-to-date net income reached $12.7 million ($1.89 per diluted share), compared to $16.0 million ($2.35 per diluted share) in 2020. A quarterly cash dividend of $0.125 per share was declared, payable on December 3, 2021. The company is expanding through the proposed acquisition of First Community Bancorp, Inc., increasing its assets by $374 million.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced its agreement to acquire First Community Bancorp, Inc., marking Eagle's largest acquisition to date. First Community, with $374 million in assets and nine branches in Northeast Montana, will add $307 million in deposits and $220 million in gross loans to Eagle's portfolio. The transaction, valued at approximately $41.3 million, includes cash and stock compensation for First Community shareholders. Following the acquisition, Eagle will operate 32 branches across Montana, enhancing its market presence.
Eagle Bancorp Montana (NASDAQ: EBMT) reported a net income of $2.7 million or $0.39 per diluted share for Q2 2021, down from $5.7 million or $0.84 per diluted share the previous year.
The board increased the quarterly dividend by 28% to $0.125 per share, payable on September 3, 2021. Total loans rose 3.9% to $873.9 million, and deposits surged 19.9% to $1.15 billion.
Despite lower mortgage sales, the company remains confident in its growth prospects as economy recovers from COVID-19.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced the results of its modified Dutch auction tender offer to buy back up to $6,000,000 worth of common stock at a price of $24.00 to $26.25 per share, which concluded on June 22, 2021. A total of 846,965 shares were tendered, leading to a pro rata acceptance of 250,000 shares at $24.00 per share due to oversubscription. This buyback constitutes approximately 3.7% of its outstanding shares, and the total purchase price is around $6,000,000, excluding related fees.
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