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Eagle Bancorp Montana Earns $605,000 In Fourth Fiscal Quarter And $2.2 Million In Fiscal 2012; Declares Regular Quarterly Cash Dividend

Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company,” “Eagle”), the holding company of American Federal Savings Bank, today reported its earnings increased 26% to $605,000, or $0.15 per diluted share, in the fourth fiscal quarter ended June 30, 2012, compared to $482,000, or $0.12 per diluted share, in the fourth quarter a year ago. In the quarter ended March 31, 2012 it earned $658,000, or $0.17 per diluted share. In fiscal 2012 Eagle earned $2.2 million, or $0.56 per diluted share, compared to $2.4 million, or $0.62 per diluted share, in fiscal 2011.

The Company also announced its board of directors has declared a regular quarterly cash dividend of $0.07125 per share payable August 24, 2012 to shareholders of record on August 3, 2012.

“For the past two years we have explored several growth opportunities in our markets and surrounding areas. The highlight of the year so far is our definitive agreement to purchase seven branch banking locations from Sterling Savings Bank, a wholly-owned subsidiary of Sterling Financial Corporation (NASDAQ: STSA), which we announced on July 2, 2012,” said Peter J. Johnson, President and CEO. “The transaction will more than double our franchise to 13 branches and extends our branch network throughout Southern Montana. It will provide our existing customers with added convenience and service and our new customers with the opportunity to enjoy the outstanding personalized service and commitment of a Montana-based community bank.”

Of the seven branches being acquired six are in new markets for Eagle, including two in Missoula, one in Billings, and one each in Hamilton, Livingston and Big Timber. The seventh is in Bozeman where Eagle already has a presence.

Fourth Quarter Fiscal 2012 Highlights

  • Eagle earned $605,000 or $0.15 per diluted share, in the fourth quarter of fiscal 2012 compared to $658,000, or $0.17 per diluted share in the preceding quarter and $482,000, or $0.12 per diluted share in the fourth quarter of fiscal 2011.
  • Net interest margin was 3.51% in the fourth quarter, compared to 3.73% in the preceding quarter and 3.71% in the fourth quarter a year ago.
  • Nonperforming assets were $5.6 million, or 1.70% of total assets at June 30, 2012, compared to $5.4 million, or 1.62% of total assets three months earlier and $4.1 million, or 1.24% of total assets a year ago.
  • Nonperforming loans totaled $3.2 million, or 1.83% of total loans at June 30, 2012 compared to $3.5 million, or 1.95% of total loans three months earlier and $2.9 million, or 1.57% of total loans a year ago.
  • Total deposits increased 5.16% year-over-year to $220.0 million.
  • Capital ratios remain strong with a Tier 1 leverage ratio of 17.22%.
  • Declared regular quarterly cash dividend of $0.07125 per share.




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