Eagle Bancorp Montana Earns $2.3 Million, or $0.36 per Diluted Share, in 4Q19 and Record $10.9 Million, or $1.69 Per Diluted Share, for the 12 months; Declares Regular Quarterly Cash Dividend of $0.095 per Share

HELENA, Mont., Jan. 28, 2020 (GLOBE NEWSWIRE) — Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company, ” “Eagle”), the keeping business of chance Bank of Montana, today reported net gain increased 61.8per cent to $2.3 million, or $0.36 per diluted share, into the 4th quarter of 2019, when compared with $1.4 million, or $0.26 per diluted share, when you look at the 4th quarter of 2018. Into the quarter that is preceding net gain had been accurate documentation $4.1 million, or $0.63 per diluted share, showing the higher level of share from mortgage banking and gains from sale of loans. Development through the two purchases finished in the last couple of years also contributed to record revenues and earnings this present year. There have been $505,000 in acquisition-related costs into the 4th quarter of 2019, when compared with $517,000 within the quarter that is preceding $582,000 into the 4th quarter last year.

When it comes to 12 months 2019, net gain a lot more than doubled to $10.9 million, or $1.69 per diluted share, in comparison to $5.0 million, or $0.91 per diluted share, in 2018. There have been $2.2 million in acquisition-related costs when it comes to compared to $1.2 million in acquisition-related expenses in 2018 year.

Eagle’s board of directors declared a quarterly money dividend of $0.095 per share on January 23, 2020. The dividend will likely to be payable March 6, 2020 to investors of record February 14, 2020. The existing annualized dividend yield is 1.75% centered on current market costs.

“We delivered record profits for 2019, fueled by stability sheet expansion, strong top-line income development, therefore the effective integration regarding the two purchases finished in the very last 2 yrs, ” said Peter J. Johnson, President and CEO. “Additionally, we finished our purchase of Western Holding business of Wolf aim early in the day this month. These transactions further solidify our place given that fourth-largest, Montana-based bank and offers us a distinctive chance to expand our market presence and lending activities. While expenses associated with the purchase integration may be more than normal within the next few quarters, we anticipate costs to go back to more normalized levels within the part that is latter of. As because of the previous two purchases, we anticipate the Western Holding business of Wolf aim merger may be instantly accretive to profits per share. ”

On 1, 2020, Eagle completed its acquisition of Western Holding Company of Wolf Point, and its wholly owned subsidiary, Western Bank of Wolf Point, in a transaction valued at approximately $15.0 million january. Within the deal, Eagle acquired one retail bank branch and about $100 million in assets, $77 million in deposits and $41 million in gross loans, according to Western Holding Company of Wolf Point’s September 30, 2019 monetary statements.

On January 1, 2019, Eagle finished its purchase of Big Muddy Bancorp, Inc. As well as its wholly owned subsidiary, their state Bank of Townsend, positioned in Townsend, Montana, which included about $108 million in assets, $92 million in deposits and $92 million in gross loans.

On 31, 2018, Eagle completed its acquisition of TwinCo Inc., which added approximately $96 million in assets, $82 million in deposits and $55 million in gross loans january.

Fourth Quarter 2019 shows (at or even for the three-month period finished December 31, 2019, except where noted)

— net gain increased 61.8per cent to $2.3 million, or $0.36 per diluted share, in comparison to $1.4 million, or $0.26 per diluted share, when you look at the 4th quarter of 2018, and reduced compared to record net gain of $4.1 million, or $0.63 per diluted share within the quarter that is preceding. — Annualized return on typical assets had been 0.89%. — Annualized return on typical equity had been 7.64%. — web interest margin (“NIM”) improved 7-basis points to 4.22per cent into the 4th quarter of 2019, when compared with 4.15per cent into the preceding quarter, and enhanced 27-basis points when compared with 3.95per cent when you look at the 4th quarter this past year. — profits (web interest earnings prior to the supply for loan losings, plus non-interest income) increased 48.6percent to $16.5 million, when compared with $11.1 million into the 4th quarter last year. — buy discount on loans through the Big Muddy Bancorp, Inc. Profile had been $2.8 million at 1, 2019, (the “acquisition date”) of which $1.3 million remains as of December 31, 2019 january. — buy discount on loans through the Twin Co, Inc. Profile had been $1.8 million at 31, 2018, (the “acquisition date”) advance financial 24/7 of which $836,000 remains as of December 31, 2019 january. — The accretion associated with loan purchase discount into loan interest earnings from both the major Muddy Bancorp, Inc. Additionally the TwinCo, Inc. Deals had been $536,000 when you look at the 4th quarter, in comparison to $286,000 into the quarter that is preceding. — Total loans increased 26.3% to $779.2 million at December 31, 2019, when compared with $616.9 million last year. — Total deposits increased 29.1% to $809.0 million at December 31, 2019, when compared with $626.6 million this past year. — Capital ratios remain well capitalized having a concrete common shareholders’ equity ratio of 9.95per cent at December 31, 2019. — Declared a quarterly money dividend of $0.095 per share.

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