Eagle Bancorp Montana, Inc - EBMT STOCK NEWS

Eagle Bancorp Montana (NASDAQ: EBMT) reported net income of $1.7 million, or $0.22 per diluted share, in Q2 2024. The company increased its quarterly cash dividend to $0.1425 per share, payable on September 6, 2024. Key highlights include:

- Net interest margin expanded to 3.41%, an 8 basis point improvement from Q1 2024
- Total loans increased 6.8% year-over-year to $1.52 billion
- Total deposits grew 2.6% year-over-year to $1.62 billion
- Allowance for credit losses represented 330.8% of nonperforming loans
- Tangible book value per share increased to $16.25

The company's performance was driven by disciplined loan growth, strong credit quality, and net interest margin expansion.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a first-quarter net income of $3.2 million, or $0.42 per diluted share, down from $3.6 million in the previous quarter. This reflects a significant increase compared to $2.2 million a year ago. The board declared a $0.1375 cash dividend, yielding 3.97%. Total loans rose by 43.7% to $1.38 billion, driven by growth in commercial real estate and agricultural loans. However, net interest margin decreased to 3.86% from 4.10% in the previous quarter. The company has also authorized a share repurchase of up to 400,000 shares, about 5% of outstanding shares, to start on May 1, 2023. The outlook for the remainder of 2023 remains cautious due to economic uncertainties and deposit pricing pressures.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a net income of $3.6 million for Q4 2022, translating to $0.47 per diluted share, a rise from $3.1 million or $0.40 per diluted share in Q3 2022. For the full year 2022, net income was $10.7 million, down from $14.4 million in 2021. The board declared a quarterly dividend of $0.1375 per share, payable on March 3, 2023. The company saw significant loan growth of 45.1% year-over-year, totaling $1.35 billion by December 31, 2022. Despite a modest decrease in net interest margin to 4.10%, revenues for Q4 2022 rose 15.2% year-over-year to $25.1 million.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported net income of $3.1 million for Q3 2022, a rise from $1.8 million in Q2 but down from $4.7 million a year ago. The increase was driven by strong loan growth of $61.2 million, leading to a total loan portfolio of $1.31 billion, up 48.3% year-over-year. A quarterly dividend of $0.1375 per share was declared, payable on December 2, 2022, yielding 2.95%. The acquisition of First Community added significant assets and contributed positively to results, although the company faced $2.3 million in acquisition costs year-to-date.

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) reported a net income of $1.8 million, or $0.24 per diluted share, for Q2 2022, down from $2.2 million in Q1 2022. The decrease was impacted by $1.9 million in acquisition costs from its merger with First Community Bancorp. Total assets surged by 39.8% to $1.90 billion, primarily due to the merger. Despite the financial challenges, the board increased the quarterly cash dividend by 10% to $0.1375 per share, payable on September 2, 2022. The company’s net interest margin improved to 4.09%, highlighting growth amidst a competitive environment.