Eagle Bancorp Montana Earns $3.2 Million, or $0.41 per Diluted Share, in the Second Quarter of 2025; Increases Quarterly Cash Dividend to $0.145 Per Share
Eagle Bancorp Montana (NASDAQ: EBMT) reported strong Q2 2025 financial results with net income of $3.2 million, or $0.41 per diluted share, matching the previous quarter and up from $1.7 million a year ago. The company increased its quarterly cash dividend to $0.145 per share.
Key highlights include a net interest margin expansion to 3.91%, a 17-basis point increase from the previous quarter. Total loans grew 3.4% to $1.57 billion, while deposits increased 7.4% year-over-year to $1.74 billion. Revenues rose 9.7% to $23.0 million compared to the previous quarter.
The bank maintained strong credit quality with an allowance for credit losses representing 348.8% of nonperforming loans. The company also continued its share repurchase program, buying back 25,000 shares at an average price of $16.34 per share.
Eagle Bancorp Montana (NASDAQ: EBMT) ha riportato solidi risultati finanziari nel secondo trimestre del 2025 con un utile netto di 3,2 milioni di dollari, pari a 0,41 dollari per azione diluita, in linea con il trimestre precedente e in crescita rispetto a 1,7 milioni di dollari dell'anno precedente. La società ha aumentato il dividendo trimestrale in contanti a 0,145 dollari per azione.
Tra i principali risultati si evidenzia un margine di interesse netto in aumento al 3,91%, con un incremento di 17 punti base rispetto al trimestre precedente. I prestiti totali sono cresciuti del 3,4% raggiungendo 1,57 miliardi di dollari, mentre i depositi sono aumentati del 7,4% su base annua a 1,74 miliardi di dollari. I ricavi sono saliti del 9,7% a 23,0 milioni di dollari rispetto al trimestre precedente.
La banca ha mantenuto una solida qualità del credito con un accantonamento per perdite su crediti pari al 348,8% dei prestiti in sofferenza. La società ha inoltre proseguito il programma di riacquisto di azioni, comprando 25.000 azioni a un prezzo medio di 16,34 dollari per azione.
Eagle Bancorp Montana (NASDAQ: EBMT) reportó sólidos resultados financieros en el segundo trimestre de 2025 con un ingreso neto de 3,2 millones de dólares, o 0,41 dólares por acción diluida, igualando el trimestre anterior y superior a los 1,7 millones de dólares del año pasado. La compañía incrementó su dividendo trimestral en efectivo a 0,145 dólares por acción.
Los aspectos destacados incluyen una expansión del margen neto de interés al 3,91%, un aumento de 17 puntos básicos respecto al trimestre anterior. Los préstamos totales crecieron un 3,4% hasta 1,57 mil millones de dólares, mientras que los depósitos aumentaron un 7,4% interanual hasta 1,74 mil millones de dólares. Los ingresos subieron un 9,7% hasta 23,0 millones de dólares en comparación con el trimestre anterior.
El banco mantuvo una sólida calidad crediticia con una provisión para pérdidas crediticias que representa el 348,8% de los préstamos morosos. La compañía también continuó su programa de recompra de acciones, recomprando 25.000 acciones a un precio promedio de 16,34 dólares por acción.
Eagle Bancorp Montana (NASDAQ: EBMT)는 2025년 2분기 강력한 재무 실적을 보고했으며, 순이익은 320만 달러, 희석 주당순이익은 0.41달러로 전 분기와 동일하며 전년 동기 170만 달러에서 증가했습니다. 회사는 분기 현금 배당금을 주당 0.145달러로 인상했습니다.
주요 내용으로는 순이자마진이 3.91%로 전 분기 대비 17 베이시스 포인트 상승한 점이 있습니다. 총 대출금은 3.4% 증가하여 15억 7천만 달러에 달했고, 예금은 전년 대비 7.4% 증가한 17억 4천만 달러를 기록했습니다. 수익은 전 분기 대비 9.7% 증가한 2,300만 달러였습니다.
은행은 부실 대출 대비 348.8%에 달하는 대손충당금을 유지하며 강력한 신용 품질을 유지했습니다. 또한 회사는 주식 환매 프로그램을 지속하여 평균 주당 16.34달러에 25,000주를 매입했습니다.
Eagle Bancorp Montana (NASDAQ: EBMT) a annoncé de solides résultats financiers pour le deuxième trimestre 2025 avec un bénéfice net de 3,2 millions de dollars, soit 0,41 dollar par action diluée, égalant le trimestre précédent et en hausse par rapport à 1,7 million de dollars l'année dernière. La société a augmenté son dividende trimestriel en espèces à 0,145 dollar par action.
Les points clés incluent une expansion de la marge nette d'intérêt à 3,91%, soit une augmentation de 17 points de base par rapport au trimestre précédent. Les prêts totaux ont augmenté de 3,4 % pour atteindre 1,57 milliard de dollars, tandis que les dépôts ont progressé de 7,4 % en glissement annuel pour atteindre 1,74 milliard de dollars. Les revenus ont augmenté de 9,7 % pour atteindre 23,0 millions de dollars par rapport au trimestre précédent.
La banque a maintenu une solide qualité de crédit avec une provision pour pertes sur prêts représentant 348,8 % des prêts non performants. La société a également poursuivi son programme de rachat d'actions, rachetant 25 000 actions à un prix moyen de 16,34 dollars par action.
Eagle Bancorp Montana (NASDAQ: EBMT) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Nettogewinn von 3,2 Millionen US-Dollar bzw. 0,41 US-Dollar je verwässerter Aktie, was dem vorherigen Quartal entspricht und gegenüber 1,7 Millionen US-Dollar im Vorjahr gestiegen ist. Das Unternehmen erhöhte seine vierteljährliche Bardividende auf 0,145 US-Dollar je Aktie.
Zu den wichtigsten Highlights gehört eine Ausweitung der Nettozinsmarge auf 3,91%, ein Anstieg um 17 Basispunkte gegenüber dem Vorquartal. Die Gesamtkredite wuchsen um 3,4 % auf 1,57 Milliarden US-Dollar, während die Einlagen im Jahresvergleich um 7,4 % auf 1,74 Milliarden US-Dollar zunahmen. Die Einnahmen stiegen im Vergleich zum Vorquartal um 9,7 % auf 23,0 Millionen US-Dollar.
Die Bank hielt eine starke Kreditqualität mit einer Rückstellung für Kreditverluste, die 348,8 % der notleidenden Kredite entspricht. Das Unternehmen setzte außerdem sein Aktienrückkaufprogramm fort und kaufte 25.000 Aktien zu einem durchschnittlichen Preis von 16,34 US-Dollar pro Aktie zurück.
- Net income doubled YoY to $3.2 million in Q2 2025 from $1.7 million in Q2 2024
- Net interest margin improved significantly to 3.91%, up 50 basis points YoY
- Total deposits grew 7.4% YoY to $1.74 billion
- Quarterly dividend increased to $0.145 per share
- Strong credit quality with allowance for credit losses at 348.8% of nonperforming loans
- Commercial real estate loans increased 7.6% YoY to $675.3 million
- Agricultural and farmland loans grew 13.5% YoY to $317.3 million
- Residential mortgage loans decreased 6.3% YoY to $147.1 million
- Commercial construction and development loans declined 26.5% YoY to $101.0 million
- Consumer loans decreased 8.4% YoY
- Uninsured deposits increased to 19% of total deposits from 18% in previous quarter
HELENA, Mont., July 29, 2025 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company,” “Eagle”), the holding company of Opportunity Bank of Montana (the “Bank”), today reported net income of
Eagle’s board of directors declared a quarterly cash dividend of
“We delivered strong financial results for the second quarter of 2025, marked by growth in both loans and deposits, as well as continued expansion in our net interest margin,” said Laura F. Clark, President and CEO. “Our efforts to strengthen the balance sheet and expand our community banking presence throughout Montana are yielding results, supported by a stable core deposit base and a diversified loan portfolio. Despite the ongoing impact of market volatility and interest rate fluctuations, we remain well-positioned within our markets to drive sustainable growth throughout the remainder of the year.”
Second Quarter 2025 Highlights (at or for the three-month period ended June 30, 2025, except where noted):
- Net income was
$3.2 million , or$0.41 per diluted share, in the second quarter of 2025, which is consistent with the preceding quarter, and compared to$1.7 million , or$0.22 per diluted share, in the second quarter a year ago. - Net interest margin (“NIM”) was
3.91% in the second quarter of 2025, a 17-basis point increase compared to3.74% in the preceding quarter and a 50-basis point increase compared to the second quarter a year ago. - Net interest income, before the provision for credit losses, increased
7.4% to$18.1 million in the second quarter of 2025, compared to$16.9 million in the first quarter of 2025, and increased16.1% compared to$15.6 million in the second quarter of 2024. - Revenues (net interest income before the provision for credit losses, plus noninterest income) increased
9.7% to$23.0 million in the second quarter of 2025, compared to$20.9 million in the preceding quarter and increased15.3% compared to$19.9 million in the second quarter a year ago. - Total loans increased
3.4% to$1.57 billion , at June 30, 2025, compared to$1.52 billion a year earlier, and increased3.0% compared to$1.52 billion at March 31, 2025. - The allowance for credit losses represented
1.13% of portfolio loans and348.8% of nonperforming loans at June 30, 2025, compared to1.11% of total portfolio loans and330.8% of nonperforming loans at June 30, 2024, and compared to1.10% of total portfolio loans and313.2% of nonperforming loans at March 31, 2025. - Total deposits increased
$119.1 million or7.4% to$1.74 billion at June 30, 2025, compared to a year earlier, and increased$48.0 million or2.8% , compared to March 31, 2025. - The Company’s available borrowing capacity was approximately
$463.0 million at June 30, 2025, compared to$374.5 million at June 30, 2024, and$437.4 million at March 31, 2025. - The Company repurchased 25,000 shares of the Company’s common stock in the second quarter at an average price of
$16.34 per share. - The Company paid a quarterly cash dividend in the second quarter of
$0.14 25 per share on June 6, 2025, to shareholders of record May 16, 2025.
Balance Sheet Results
Total assets were
Eagle originated
Total loans increased
"Over the past several quarters, our deposit mix has shifted toward higher-yielding deposit products, consistent with trends seen across the community banking sector in response to a sustained high interest rate environment. Following the rate cuts from the latter half of 2024, we have begun to see a moderation in deposit pricing. We anticipate this trend will continue as maturing certificates of deposit reprice at lower rates,” said Miranda Spaulding, CFO. “However, we remain cautious, as emerging inflationary pressures-including potential impacts from new tariffs and broader cost increases-could influence future interest rate policy and impact our current repricing expectations.”
Total deposits increased to
FHLB advances and other borrowings decreased to
Shareholders’ equity was
Operating Results
“The combination of higher yields on interest-earning assets and a decline in our cost of funds led to a 17-basis point increase in our net interest margin this second quarter compared to the prior quarter. Given the current Fed rate environment, we expect further improvement in our funding costs moving forward,” said Spaulding.
Eagle’s NIM was
Net interest income, before the provision for credit losses, increased
Revenues for the second quarter of 2025 increased
Total noninterest income increased
Eagle’s second quarter noninterest expense was
For the second quarter of 2025, the Company recorded income tax expense of
Credit Quality
During the second quarter of 2025, Eagle recorded a
Capital Management
The Bank’s Tier 1 capital to adjusted total average assets was
About the Company
Eagle Bancorp Montana, Inc. is a bank holding company headquartered in Helena, Montana, and is the holding company of Opportunity Bank of Montana, a community bank established in 1922 that serves consumers and small businesses in Montana through 30 banking offices. Additional information is available on the Bank’s website at www.opportunitybank.com. The shares of Eagle Bancorp Montana, Inc. are traded on the NASDAQ Global Market under the symbol “EBMT.”
Forward Looking Statements
This release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and may be identified by the use of such words as "believe," “will,” "expect," "anticipate," "should," "planned," "estimated," and "potential." These forward-looking statements include, but are not limited to statements of our goals, intentions, expectations and anticipations; statements regarding our business plans, prospects, mergers, growth and operating strategies; statements regarding the asset quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. These factors include, but are not limited to, changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements; general economic conditions and political events, either nationally or in our market areas, that are worse than expected; the emergence or continuation of widespread health emergencies or pandemics, including steps taken by governmental and other authorities to contain, mitigate and combat such emergencies or pandemics; the impact of volatility in the U.S. banking industry, including the associated impact of any regulatory changes or other mitigation efforts taken by governmental agencies in response thereto; the impact of any new regulatory, policy or enforcement developments resulting from the change in U.S. presidential administration, including the implantation of tariffs and other protectionist trade policies; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; an inability to access capital markets or maintain deposits or borrowing costs; competition among banks, financial holding companies and other traditional and non-traditional financial service providers; loan demand or residential and commercial real estate values in Montana; the concentration of our business in Montana; our ability to continue to increase and manage our commercial real estate, commercial business and agricultural loans; the costs and effects of legal, compliance and regulatory actions, changes and developments, including the initiation and resolution of legal proceedings (including any securities, bank operations, consumer or employee litigation); inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments; possible changes in governmental monetary and fiscal policies, or any leadership changes of those determining such policies; adverse changes in the securities markets that lead to impairment in the value of our investment securities and goodwill; other economic, governmental, competitive, regulatory and technological factors that may affect our operations; our ability to implement new technologies and maintain secure and reliable technology systems including those that involve the Bank’s third-party vendors and service providers; cyber incidents, or theft or loss of Company or customer data or money; the effects of any U.S. federal government shutdown, or closures or significant staff reductions in agencies regulating our business; our ability to navigate differing social, environmental, and sustainability concerns among governmental administrations, our stakeholders and other activists that may arise from our business activities; the effect of our recent or future acquisitions, including the failure to achieve expected revenue growth and/or expense savings, the failure to effectively integrate their operations, the outcome of any legal proceedings and the diversion of management time on issues related to the integration.
Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. All information set forth in this press release is current as of the date of this release and the company undertakes no duty or obligation to update this information.
Use of Non-GAAP Financial Measures
In addition to results presented in accordance with generally accepted accounting principles utilized in the United States, or GAAP, this release, including the Financial Ratios and Other Data contains non-GAAP financial measures. Non-GAAP financial measures include: 1) core efficiency ratio, 2) tangible book value per share and 3) tangible common equity to tangible assets. The Company uses these non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance, performance trends and financial condition, and to enhance investors’ overall understanding of such financial performance. In particular, the use of tangible book value per share and tangible common equity to tangible assets is prevalent among banking regulators, investors and analysts.
The numerator for the core efficiency ratio is calculated by subtracting acquisition costs and intangible asset amortization from noninterest expense. Tangible assets and tangible common shareholders’ equity are calculated by excluding intangible assets from assets and shareholders’ equity, respectively. For these financial measures, our intangible assets consist of goodwill and core deposit intangible. Tangible book value per share is calculated by dividing tangible common shareholders’ equity by the number of common shares outstanding. We believe that this measure is consistent with the capital treatment by our bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios and present this measure to facilitate the comparison of the quality and composition of our capital over time and in comparison, to our competitors.
Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Further, the non-GAAP financial measure of tangible book value per share should not be considered in isolation or as a substitute for book value per share or total shareholders’ equity determined in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Eagle strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Reconciliation of the GAAP and non-GAAP financial measures are presented below.
| Balance Sheet | ||||||||||||
| (Dollars in thousands, except per share data) | (Unaudited) | |||||||||||
| June 30, | March 31, | June 30, | ||||||||||
| 2025 | 2025 | 2024 | ||||||||||
| Assets: | ||||||||||||
| Cash and due from banks | $ | 25,701 | $ | 21,360 | $ | 22,361 | ||||||
| Interest bearing deposits in banks | 1,183 | 1,445 | 1,401 | |||||||||
| Federal funds sold | 44 | - | - | |||||||||
| Total cash and cash equivalents | 26,928 | 22,805 | 23,762 | |||||||||
| Securities available-for-sale, at fair value | 285,023 | 291,661 | 306,869 | |||||||||
| Federal Home Loan Bank ("FHLB") stock | 7,000 | 7,101 | 10,136 | |||||||||
| Federal Reserve Bank ("FRB") stock | 4,131 | 4,131 | 4,131 | |||||||||
| Mortgage loans held-for-sale, at fair value | 13,651 | 6,223 | 10,518 | |||||||||
| Loans: | ||||||||||||
| Real estate loans: | ||||||||||||
| Residential 1-4 family | 147,143 | 149,699 | 157,053 | |||||||||
| Residential 1-4 family construction | 47,146 | 45,508 | 50,228 | |||||||||
| Commercial real estate | 675,285 | 666,265 | 627,326 | |||||||||
| Commercial construction and development | 100,984 | 110,107 | 137,427 | |||||||||
| Farmland | 162,182 | 153,456 | 142,353 | |||||||||
| Other loans: | ||||||||||||
| Home equity | 102,778 | 100,665 | 93,213 | |||||||||
| Consumer | 26,658 | 26,978 | 29,118 | |||||||||
| Commercial | 152,335 | 139,668 | 143,641 | |||||||||
| Agricultural | 155,151 | 131,162 | 137,134 | |||||||||
| Total loans | 1,569,662 | 1,523,508 | 1,517,493 | |||||||||
| Allowance for credit losses | (17,730 | ) | (16,720 | ) | (16,830 | ) | ||||||
| Net loans | 1,551,932 | 1,506,788 | 1,500,663 | |||||||||
| Accrued interest and dividends receivable | 14,674 | 13,271 | 13,195 | |||||||||
| Mortgage servicing rights, net | 15,120 | 15,282 | 15,614 | |||||||||
| Assets held-for-sale, at cost | 703 | 960 | 257 | |||||||||
| Premises and equipment, net | 100,909 | 101,759 | 98,397 | |||||||||
| Cash surrender value of life insurance, net | 53,958 | 53,573 | 48,529 | |||||||||
| Goodwill | 34,740 | 34,740 | 34,740 | |||||||||
| Core deposit intangible, net | 3,885 | 4,181 | 5,168 | |||||||||
| Other assets | 24,979 | 25,941 | 26,976 | |||||||||
| Total assets | $ | 2,137,633 | $ | 2,088,416 | $ | 2,098,955 | ||||||
| Liabilities: | ||||||||||||
| Deposit accounts: | ||||||||||||
| Noninterest bearing | $ | 417,324 | $ | 411,272 | $ | 400,113 | ||||||
| Interest bearing | 1,320,601 | 1,278,694 | 1,218,752 | |||||||||
| Total deposits | 1,737,925 | 1,689,966 | 1,618,865 | |||||||||
| Accrued expenses and other liabilities | 40,439 | 36,739 | 35,804 | |||||||||
| FHLB advances and other borrowings | 119,407 | 124,952 | 215,050 | |||||||||
| Other long-term debt, net | 59,224 | 59,186 | 59,074 | |||||||||
| Total liabilities | 1,956,995 | 1,910,843 | 1,928,793 | |||||||||
| Shareholders' Equity: | ||||||||||||
| Preferred stock (par value | ||||||||||||
| authorized; no shares issued or outstanding) | - | - | - | |||||||||
| Common stock (par value | ||||||||||||
| 8,507,429 shares issued; 7,952,177, 7,977,177 and 8,016,784 | ||||||||||||
| shares outstanding at June 30, 2025, March 31, 2025, and | ||||||||||||
| June 30, 2024, respectively | 85 | 85 | 85 | |||||||||
| Additional paid-in capital | 108,590 | 108,451 | 108,962 | |||||||||
| Unallocated common stock held by Employee Stock Ownership Plan | (3,724 | ) | (3,867 | ) | (4,297 | ) | ||||||
| Treasury stock, at cost (555,252, 530,252,and 490,645 shares at | ||||||||||||
| June 30, 2025, March 31, 2025 and June 30, 2024, respectively) | (11,925 | ) | (11,517 | ) | (11,124 | ) | ||||||
| Retained earnings | 105,470 | 103,366 | 97,413 | |||||||||
| Accumulated other comprehensive loss, net of tax | (17,858 | ) | (18,945 | ) | (20,877 | ) | ||||||
| Total shareholders' equity | 180,638 | 177,573 | 170,162 | |||||||||
| Total liabilities and shareholders' equity | $ | 2,137,633 | $ | 2,088,416 | $ | 2,098,955 | ||||||
| Income Statement | (Unaudited) | (Unaudited) | |||||||||||||
| (Dollars in thousands, except per share data) | Three Months Ended | Six Months Ended | |||||||||||||
| June 30, | March 31, | June 30, | June 30 | ||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Interest and dividend income: | |||||||||||||||
| Interest and fees on loans | $ | 24,442 | $ | 23,320 | $ | 22,782 | $ | 47,762 | $ | 44,724 | |||||
| Securities available-for-sale | 2,397 | 2,451 | 2,631 | 4,848 | 5,355 | ||||||||||
| FRB and FHLB dividends | 236 | 260 | 264 | 496 | 511 | ||||||||||
| Other interest income | 75 | 38 | 145 | 113 | 174 | ||||||||||
| Total interest and dividend income | 27,150 | 26,069 | 25,822 | 53,219 | 50,764 | ||||||||||
| Interest expense: | |||||||||||||||
| Interest expense on deposits | 6,877 | 6,871 | 6,884 | 13,748 | 13,432 | ||||||||||
| FHLB advances and other borrowings | 1,459 | 1,626 | 2,625 | 3,085 | 5,122 | ||||||||||
| Other long-term debt | 669 | 670 | 681 | 1,339 | 1,364 | ||||||||||
| Total interest expense | 9,005 | 9,167 | 10,190 | 18,172 | 19,918 | ||||||||||
| Net interest income | 18,145 | 16,902 | 15,632 | 35,047 | 30,846 | ||||||||||
| Provision for credit losses | 1,038 | 42 | 412 | 1,080 | 277 | ||||||||||
| Net interest income after provision for credit losses | 17,107 | 16,860 | 15,220 | 33,967 | 30,569 | ||||||||||
| Noninterest income: | |||||||||||||||
| Service charges on deposit accounts | 393 | 389 | 428 | 782 | 828 | ||||||||||
| Mortgage banking, net | 2,926 | 2,125 | 2,417 | 5,051 | 4,594 | ||||||||||
| Interchange and ATM fees | 670 | 593 | 640 | 1,263 | 1,203 | ||||||||||
| Appreciation in cash surrender value of life insurance | 393 | 350 | 320 | 743 | 608 | ||||||||||
| Other noninterest income | 425 | 559 | 464 | 984 | 988 | ||||||||||
| Total noninterest income | 4,807 | 4,016 | 4,269 | 8,823 | 8,221 | ||||||||||
| Noninterest expense: | |||||||||||||||
| Salaries and employee benefits | 10,645 | 9,664 | 10,273 | 20,309 | 19,991 | ||||||||||
| Occupancy and equipment expense | 2,230 | 2,302 | 2,104 | 4,532 | 4,203 | ||||||||||
| Data processing | 1,305 | 1,330 | 1,382 | 2,635 | 2,907 | ||||||||||
| Software subscriptions | 715 | 658 | 511 | 1,373 | 1,039 | ||||||||||
| Advertising | 280 | 232 | 316 | 512 | 569 | ||||||||||
| Amortization | 298 | 320 | 348 | 618 | 717 | ||||||||||
| Loan costs | 354 | 372 | 412 | 726 | 810 | ||||||||||
| FDIC insurance premiums | 257 | 231 | 284 | 488 | 583 | ||||||||||
| Professional and examination fees | 391 | 520 | 423 | 911 | 907 | ||||||||||
| Other noninterest expense | 1,451 | 1,377 | 1,254 | 2,828 | 2,614 | ||||||||||
| Total noninterest expense | 17,926 | 17,006 | 17,307 | 34,932 | 34,340 | ||||||||||
| Income before provision for income taxes | 3,988 | 3,870 | 2,182 | 7,858 | 4,450 | ||||||||||
| Provision for income taxes | 751 | 631 | 444 | 1,382 | 814 | ||||||||||
| Net income | $ | 3,237 | $ | 3,239 | $ | 1,738 | $ | 6,476 | $ | 3,636 | |||||
| Basic earnings per common share | $ | 0.42 | $ | 0.41 | $ | 0.22 | $ | 0.83 | $ | 0.46 | |||||
| Diluted earnings per common share | $ | 0.41 | $ | 0.41 | $ | 0.22 | $ | 0.83 | $ | 0.46 | |||||
| Basic weighted average shares outstanding | 7,791,320 | 7,812,248 | 7,830,925 | 7,801,726 | 7,827,926 | ||||||||||
| Diluted weighted average shares outstanding | 7,812,656 | 7,823,636 | 7,845,272 | 7,819,113 | 7,840,288 | ||||||||||
| ADDITIONAL FINANCIAL INFORMATION | (Unaudited) | ||||||||||
| (Dollars in thousands, except per share data) | Three or Six Months Ended | ||||||||||
| June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| Mortgage Banking Activity (For the quarter): | |||||||||||
| Net gain on sale of mortgage loans | $ | 2,083 | $ | 1,349 | $ | 1,600 | |||||
| Net change in fair value of loans held-for-sale and derivatives | 105 | (115 | ) | 12 | |||||||
| Mortgage servicing income, net | 738 | 891 | 805 | ||||||||
| Mortgage banking, net | $ | 2,926 | $ | 2,125 | $ | 2,417 | |||||
| Mortgage Banking Activity (Year-to-date): | |||||||||||
| Net gain on sale of mortgage loans | $ | 3,432 | $ | 3,014 | |||||||
| Net change in fair value of loans held-for-sale and derivatives | (10 | ) | (161 | ) | |||||||
| Mortgage servicing income, net | 1,629 | 1,741 | |||||||||
| Mortgage banking, net | $ | 5,051 | $ | 4,594 | |||||||
| Performance Ratios (For the quarter): | |||||||||||
| Return on average assets | 0.61 | % | 0.62 | % | 0.33 | % | |||||
| Return on average equity | 7.23 | % | 7.66 | % | 4.30 | % | |||||
| Yield on average interest earning assets | 5.85 | % | 5.76 | % | 5.64 | % | |||||
| Cost of funds | 2.45 | % | 2.54 | % | 2.78 | % | |||||
| Net interest margin | 3.91 | % | 3.74 | % | 3.41 | % | |||||
| Core efficiency ratio* | 76.80 | % | 79.77 | % | 85.22 | % | |||||
| Performance Ratios (Year-to-date): | |||||||||||
| Return on average assets | 0.62 | % | 0.35 | % | |||||||
| Return on average equity | 7.27 | % | 4.49 | % | |||||||
| Yield on average interest earning assets | 5.81 | % | 5.55 | % | |||||||
| Cost of funds | 2.49 | % | 2.73 | % | |||||||
| Net interest margin | 3.82 | % | 3.37 | % | |||||||
| Core efficiency ratio* | 78.22 | % | 86.06 | % | |||||||
| * The core efficiency ratio is a non-GAAP ratio that is calculated by dividing non-interest expense, exclusive of acquisition | |||||||||||
| costs and intangible asset amortization, by the sum of net interest income and non-interest income. | |||||||||||
| ADDITIONAL FINANCIAL INFORMATION | |||||||||||
| (Dollars in thousands, except per share data) | |||||||||||
| Asset Quality Ratios and Data: | As of or for the Three Months Ended | ||||||||||
| June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| Nonaccrual loans | $ | 2,423 | $ | 2,701 | $ | 4,012 | |||||
| Loans 90 days past due and still accruing | 2,660 | 2,638 | 1,076 | ||||||||
| Total nonperforming loans | 5,083 | 5,339 | 5,088 | ||||||||
| Other real estate owned and other repossessed assets | 86 | 46 | 4 | ||||||||
| Total nonperforming assets | $ | 5,169 | $ | 5,385 | $ | 5,092 | |||||
| Nonperforming loans / portfolio loans | 0.32 | % | 0.35 | % | 0.34 | % | |||||
| Nonperforming assets / assets | 0.24 | % | 0.26 | % | 0.24 | % | |||||
| Allowance for credit losses / portfolio loans | 1.13 | % | 1.10 | % | 1.11 | % | |||||
| Allowance for credit losses/ nonperforming loans | 348.81 | % | 313.17 | % | 330.78 | % | |||||
| Gross loan charge-offs for the quarter | $ | 51 | $ | 6 | $ | 12 | |||||
| Gross loan recoveries for the quarter | $ | 3 | $ | 4 | $ | 10 | |||||
| Net loan charge-offs for the quarter | $ | 48 | $ | 2 | $ | 2 | |||||
| June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | |||||||||
| Capital Data (At quarter end): | |||||||||||
| Common shareholders' equity (book value) per share | $ | 22.72 | $ | 22.26 | $ | 21.23 | |||||
| Tangible book value per share** | $ | 17.86 | $ | 17.38 | $ | 16.25 | |||||
| Shares outstanding | 7,952,177 | 7,977,177 | 8,016,784 | ||||||||
| Tangible common equity to tangible assets*** | 6.77 | % | 6.77 | % | 6.33 | % | |||||
| Other Information: | |||||||||||
| Average investment securities for the quarter | $ | 287,707 | $ | 293,273 | $ | 306,207 | |||||
| Average investment securities year-to-date | $ | 290,490 | $ | 293,273 | $ | 310,168 | |||||
| Average loans for the quarter **** | $ | 1,554,756 | $ | 1,526,774 | $ | 1,513,313 | |||||
| Average loans year-to-date **** | $ | 1,540,765 | $ | 1,526,774 | $ | 1,506,303 | |||||
| Average earning assets for the quarter | $ | 1,862,024 | $ | 1,835,210 | $ | 1,837,418 | |||||
| Average earning assets year-to-date | $ | 1,848,617 | $ | 1,835,210 | $ | 1,833,867 | |||||
| Average total assets for the quarter | $ | 2,112,470 | $ | 2,079,142 | $ | 2,077,448 | |||||
| Average total assets year-to-date | $ | 2,099,980 | $ | 2,079,142 | $ | 2,072,013 | |||||
| Average deposits for the quarter | $ | 1,706,261 | $ | 1,671,349 | $ | 1,625,882 | |||||
| Average deposits year-to-date | $ | 1,688,826 | $ | 1,671,349 | $ | 1,625,826 | |||||
| Average equity for the quarter | $ | 179,104 | $ | 169,088 | $ | 161,533 | |||||
| Average equity year-to-date | $ | 178,249 | $ | 169,088 | $ | 162,084 | |||||
| ** The tangible book value per share is a non-GAAP ratio that is calculated by dividing shareholders' equity, | |||||||||||
| less goodwill and core deposit intangible, by common shares outstanding. | |||||||||||
| *** The tangible common equity to tangible assets is a non-GAAP ratio that is calculated by dividing shareholders' | |||||||||||
| equity, less goodwill and core deposit intangible, by total assets, less goodwill and core deposit intangible. | |||||||||||
| **** Includes loans held for sale | |||||||||||
| Reconciliation of Non-GAAP Financial Measures | ||||||||||||||||||||
| Efficiency Ratio | (Unaudited) | (Unaudited) | ||||||||||||||||||
| (Dollars in thousands) | Three Months Ended | Six Months Ended | ||||||||||||||||||
| June 30, | March 31, | June 30, | June 30, | |||||||||||||||||
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
| Calculation of Efficiency Ratio: | ||||||||||||||||||||
| Noninterest expense - efficiency ratio numerator | $ | 17,926 | $ | 17,006 | $ | 17,307 | $ | 34,932 | $ | 34,340 | ||||||||||
| Net interest income | 18,145 | 16,902 | 15,632 | 35,047 | 30,846 | |||||||||||||||
| Noninterest income | 4,807 | 4,016 | 4,269 | 8,823 | 8,221 | |||||||||||||||
| Efficiency ratio denominator | 22,952 | 20,918 | 19,901 | 43,870 | 39,067 | |||||||||||||||
| Efficiency ratio (GAAP) | 78.10 | % | 81.30 | % | 86.97 | % | 79.63 | % | 87.90 | % | ||||||||||
| Calculation of Core Efficiency Ratio: | ||||||||||||||||||||
| Noninterest expense | $ | 17,926 | $ | 17,006 | $ | 17,307 | $ | 34,932 | $ | 34,340 | ||||||||||
| Intangible asset amortization | (298 | ) | (320 | ) | (348 | ) | (618 | ) | (717 | ) | ||||||||||
| Core efficiency ratio numerator | 17,628 | 16,686 | 16,959 | 34,314 | 33,623 | |||||||||||||||
| Net interest income | 18,145 | 16,902 | 15,632 | 35,047 | 30,846 | |||||||||||||||
| Noninterest income | 4,807 | 4,016 | 4,269 | 8,823 | 8,221 | |||||||||||||||
| Core efficiency ratio denominator | 22,952 | 20,918 | 19,901 | 43,870 | 39,067 | |||||||||||||||
| Core efficiency ratio (non-GAAP) | 76.80 | % | 79.77 | % | 85.22 | % | 78.22 | % | 86.06 | % | ||||||||||
| Tangible Book Value and Tangible Assets | (Unaudited) | |||||||||||
| (Dollars in thousands, except per share data) | June 30, | March 31, | June 30, | |||||||||
| 2025 | 2025 | 2024 | ||||||||||
| Tangible Book Value: | ||||||||||||
| Shareholders' equity | $ | 180,638 | $ | 177,573 | $ | 170,162 | ||||||
| Goodwill and core deposit intangible, net | (38,625 | ) | (38,921 | ) | $ | (39,908 | ) | |||||
| Tangible common shareholders' equity (non-GAAP) | $ | 142,013 | $ | 138,652 | $ | 130,254 | ||||||
| Common shares outstanding at end of period | 7,952,177 | 7,977,177 | 8,016,784 | |||||||||
| Common shareholders' equity (book value) per share (GAAP) | $ | 22.72 | $ | 22.26 | $ | 21.23 | ||||||
| Tangible common shareholders' equity (tangible book value) | ||||||||||||
| per share (non-GAAP) | $ | 17.86 | $ | 17.38 | $ | 16.25 | ||||||
| Tangible Assets: | ||||||||||||
| Total assets | $ | 2,137,633 | $ | 2,088,416 | $ | 2,098,955 | ||||||
| Goodwill and core deposit intangible, net | (38,625 | ) | (38,921 | ) | (39,908 | ) | ||||||
| Tangible assets (non-GAAP) | $ | 2,099,008 | $ | 2,049,495 | $ | 2,059,047 | ||||||
| Tangible common shareholders' equity to tangible assets | ||||||||||||
| (non-GAAP) | 6.77 | % | 6.77 | % | 6.33 | % | ||||||
| Contacts: | Laura F. Clark, President and CEO | |
| (406) 457-4007 | ||
| Miranda J. Spaulding, SVP and CFO | ||
| (406) 441-5010 |
FAQ
What was Eagle Bancorp Montana's (EBMT) earnings per share in Q2 2025?
How much did EBMT increase its quarterly dividend in 2025?
What was Eagle Bancorp Montana's net interest margin in Q2 2025?
How much were Eagle Bancorp Montana's total deposits as of Q2 2025?
What was EBMT's loan growth in Q2 2025?
