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, when it comes to Declares Regular Quarterly Cash Dividend of $0.095 per Share year

Posted on July 31, 2020

HELENA, Mont., Jan. 28, 2020 (GLOBE NEWSWIRE) — Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company, ” “Eagle”), the keeping business of Opportunity Bank of Montana, today reported net gain increased 61.8per cent to $2.3 million, or $0.36 per diluted share, within the fourth quarter of 2019, when compared with $1.4 million, or $0.26 per diluted share, into the 4th quarter of 2018. Within the quarter that is preceding net gain had been accurate documentation $4.1 million, or $0.63 per diluted share, showing the advanced level of share from home loan banking and gains from purchase of loans www.speedyloan.net/installment-loans-mi/. Development through the two purchases finished in days gone by couple of years additionally contributed to record profits and earnings this season. There have been $505,000 in acquisition-related costs when you look at the 4th quarter of 2019, compared to $517,000 when you look at the quarter that is preceding $582,000 within the 4th quarter last year.

When it comes to 12 months 2019, net gain significantly 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 12 months, in comparison to $1.2 million in acquisition-related costs in 2018.

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

“We delivered record earnings for 2019, fueled by stability sheet expansion, strong top-line income growth, and also the effective integration associated with two purchases completed in the final couple of years, ” 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 while the fourth-largest, Montana-based bank and offers us an original possibility to expand our market presence and lending activities. While expenses associated with the purchase integration should be more than normal on the next few quarters, we expect costs to come back to more normalized amounts into the part that is latter of. As because of the previous two purchases, we anticipate the Western Holding business of Wolf Point merger are going to be straight away accretive to earnings per share. ”

On January 1, 2020, Eagle finished its purchase of Western Holding business of Wolf aim, and its own wholly owned subsidiary, Western Bank of Wolf aim, in a deal valued at more or less $15.0 million. When you look at the transaction, Eagle acquired one bank that is retail and around $100 million in assets, $77 million in deposits and $41 million in gross loans, according to Western Holding business of Wolf Point’s September 30, 2019 monetary statements.

The State Bank of Townsend, located in Townsend, Montana, which added approximately $108 million in assets, $92 million in deposits and $92 million in gross loans on January 1, 2019, Eagle completed its acquisition of Big Muddy Bancorp, Inc. And its wholly owned subsidiary.

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 for the period that is three-month December 31, 2019, except where noted)

– net gain increased 61.8per cent to $2.3 million, or $0.36 per diluted share, when compared with $1.4 million, or $0.26 per diluted share, into the 4th quarter of 2018, and reduced in comparison 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 ended up being 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 in comparison to 3.95per cent into the 4th quarter this past year. — profits (web interest earnings prior to the supply for loan losses, plus non-interest income) increased 48.6percent to $16.5 million, in comparison to $11.1 million within the 4th quarter this past year. — buy discount on loans through the Big Muddy Bancorp, Inc. Portfolio ended up being $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 ended up being $1.8 million at 31, 2018, (the “acquisition date”) of which $836,000 remains as of December 31, 2019 january. — The accretion of this loan purchase discount into loan interest income from both the major Muddy Bancorp, Inc. While the TwinCo, Inc. Deals ended up being $536,000 into the 4th quarter, when compared with $286,000 within the quarter that is preceding. — Total loans increased 26.3% to $779.2 million at December 31, 2019, in comparison to $616.9 million last year. — Total deposits increased 29.1% to $809.0 million at December 31, 2019, in comparison to $626.6 million last year. — Capital ratios remain well capitalized with a concrete common investors’ equity ratio of 9.95per cent at December 31, 2019. — Declared a quarterly money dividend of $0.095 per share.

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