Welcome to our dedicated page for Eagle Bancorp news (Ticker: EBMT), a resource for investors and traders seeking the latest updates and insights on Eagle Bancorp stock.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) is a Helena, Montana-based bank holding company for Opportunity Bank of Montana, a community bank established in 1922 that serves consumers and small businesses across Montana. This news page aggregates the company’s publicly released information so readers can follow how the bank’s financial performance and balance sheet evolve over time.
Company earnings releases provide detailed quarterly and annual results, including net income, diluted earnings per share, net interest margin, net interest income, noninterest income, and trends in operating expenses. They also describe changes in total assets, total loans, and total deposits, along with information on the composition of the loan portfolio across residential mortgage, commercial real estate, commercial, agricultural and farmland, construction, home equity, and consumer loans.
News items for EBMT often highlight deposit mix shifts among noninterest-bearing checking, interest-bearing checking, savings, money market accounts, and time certificates of deposit, as well as the use of brokered certificates at various points. Releases also discuss credit quality metrics, such as the allowance for credit losses, nonperforming loans, and net charge-offs or recoveries, and provide commentary from management on asset quality and the interest rate environment.
In addition to earnings, Eagle Bancorp Montana’s news includes announcements of quarterly cash dividends, stock repurchase authorizations, and capital management decisions. Selected 8-K filings furnish investor presentations and describe events such as the redemption of subordinated notes or changes in the company’s independent registered public accounting firm. Investors and researchers can use this page to review EBMT’s historical announcements, monitor recurring themes in management commentary, and track how the company reports on its community banking activities in Montana.
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.
Eagle Bancorp Montana, Inc. (NASDAQ: EBMT) announced preliminary results of its modified Dutch auction tender offer to buy up to $6,000,000 of its common stock at prices ranging from $24.00 to $26.25 per share. Approximately 847,776 shares were tendered, with the company expecting to acquire around 250,000 shares at $24.00 each. This represents approximately 3.7% of outstanding shares. Additionally, 251,256 shares were sold to the Opportunity Bank of Montana Employee Stock Ownership Plan at $23.88 per share. Further announcements regarding final purchase prices will follow after verification.
Eagle Bancorp Montana (NASDAQ: EBMT) has initiated a modified "Dutch auction" tender offer to repurchase up to $6 million of its common stock. The offer price ranges from $24.00 to $26.25 per share, representing a 13.20% premium based on the recent trading average. The Tender Offer will expire on June 22, 2021, with an estimated purchase of 228,571 to 250,000 shares, which is approximately 3.37% to 3.69% of the outstanding stock. This move aims to mitigate earnings per share dilution resulting from a planned share sale to the Opportunity Bank of Montana Employee Stock Ownership Plan.
Eagle Bancorp Montana (NASDAQ: EBMT) reported a net income of $5.3 million for Q1 2021, up 34.1% from $3.9 million a year ago, translating to $0.78 per diluted share. The bank declared a quarterly cash dividend of $0.0975, payable June 4, 2021. Total deposits rose by 23.1% to $1.09 billion, with a notable contribution from PPP loans and federal stimulus payments. However, net interest margin slightly declined to 3.97%. The company remains well-capitalized, indicating a solid financial position amidst ongoing pandemic challenges.
Eagle Bancorp Montana (NASDAQ: EBMT) reported a remarkable 121% increase in net income for Q4 2020, reaching $5.2 million or $0.76 per diluted share, up from $2.3 million or $0.36 year-over-year. Total revenues rose 42.9% to $23.6 million compared to Q4 2019. For the full year, net income nearly doubled to $21.2 million or $3.11 per diluted share. The board declared a quarterly cash dividend of $0.0975 per share, yielding 1.75%.
Despite strong performance, the company faced economic challenges from the COVID-19 pandemic.
Summary not available.