This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Eagle Bancorp Montana Reports Net Income Of $644,000 In Second Quarter Fiscal 2011

HELENA, Mon., Jan. 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (Nasdaq:EBMT), (the "Company," "Eagle"), the holding company of American Federal Savings Bank, today reported net income of $644,000, or $0.17 per diluted share, for the second fiscal quarter ended December 31, 2010, compared to $553,000, or $0.12 per diluted share, for the second quarter a year ago. For the first six months of fiscal 2011, Eagle reported net income of $1.5 million, of $0.39 per diluted share, compared to $1.4 million, or $0.30 per diluted share, for the same period 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 of $0.07 per share, to be paid February 25, 2011 to shareholders of record on February 4, 2011.

"Eagle's second quarter profits remain solid and consistent, despite the current economic environment," stated Pete Johnson, President and Chief Executive Officer. "We are attracting core deposits and continuing to meet the lending needs of our customers, which is evident with the growth in the balance sheet at December 31, 2010 compared to a year ago. Total assets, net loans and total deposits all increased during the quarter, while our asset quality remains sound and we continue to build reserves.  We remain optimistic that the strength of our franchise and our healthy capital position will provide the foundation for future growth opportunities."

Second Quarter 2011 Highlights
  • Net income was $644,000 or $0.17 per diluted share.
  • Net interest margin was 3.56%.
  • Nonperforming assets were $3.9 million, or 1.16% of total assets
  • Nonperforming loans totaled $2.4 million, or 1.25% of total loans.
  • Net loans increased 10.1% to $188.6 million at 12/31/10, compared to $171.0 million a year earlier.
  • Commercial real estate loans increased 55.0% year-over-year to $61.1 million and now comprise 32.1% of the total loan portfolio.
  • Non-interest bearing checking accounts increased 5.4% to $18.7 million, compared to $17.7 million a year ago.
  • Capital ratios remain strong with a Tier 1 leverage ratio of 17.1%.
  • Declared regular quarterly cash dividend of $0.07 per share.

Balance Sheet Results

Net loans increased 10% to $188.6 million at December 31, 2010 compared with $171.3 million a year earlier.  

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.10 0.42%
FB $102.66 0.74%
GOOG $687.24 0.60%
TSLA $150.39 -0.05%
YHOO $27.07 1.20%


Chart of I:DJI
DOW 15,901.11 +240.93 1.54%
S&P 500 1,855.66 +26.58 1.45%
NASDAQ 4,317.2860 +50.4490 1.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs