Eagle Bancorp Stock Price, News & Analysis

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.

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.