Eagle Bancorp Montana Earns $876,000 In First Quarter; Declares Regular Quarterly Cash Dividend
HELENA, Mont., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (Nasdaq:EBMT), (the "Company," "Eagle"), the holding company of American Federal Savings Bank, today reported it earned $876,000, or $0.22 per diluted share, for the first fiscal quarter ended September 30, 2010, compared to $844,000, or $0.18 per diluted share, for the first quarter a year ago. All per share data has been adjusted to reflect the April 5, 2010 stock conversion.
The Company also announced its board of directors has declared a quarterly cash dividend $0.07 per share, to be paid November 26, 2010 to shareholders of record on November 5, 2010.
"For the first quarter we had solid net interest income growth, reflecting a reduction in deposit costs and strong mortgage refinance activity. We also continue to grow the balance sheet with total assets, net loans and total deposits all increasing at September 30, 2010 compared to a year ago," stated Pete Johnson, President and Chief Executive Officer. "Despite the current economic environment we are optimistic that the strength of our franchise and our healthy capital position will provide the foundation for future opportunities."First Quarter 2011 Highlights
- Net income was $876,000, or $0.22 per diluted share.
- Net loans increased 5.6% to $178.2 million year-over-year, with a 35.9% increase in commercial real estate loans compared to a year ago.
- Total deposits increased by 4.6% compared to a year ago with core deposits up 11.5%.
- The efficiency ratio was 67.3% for the quarter.
- Nonperforming loans totaled $1.9 million, or 1.07% of total loans.
- Capital ratios remain strong with a Tier 1 leverage ratio of 17.1%.
- Declared regular quarterly cash dividend of $0.07 per share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV