HELENA, Mont., July 26, 2013 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (Nasdaq:EBMT), (the "Company," "Eagle"), the holding company of American Federal Savings Bank, today reported earnings increased 13% to $684,000, or $0.17 per diluted share, in the fourth fiscal quarter ended June 30, 2013, compared to $605,000, or $0.15 per diluted share, in the fourth quarter a year ago. In the third fiscal quarter ended March 31, 2013 Eagle reported net income of $907,000, or $0.23 per diluted share. In fiscal year 2013 Eagle earned $2.0 million, or $0.50 per diluted share, compared to $2.2 million, or $0.56 per diluted share, in fiscal year 2012.
The Company also announced its board of directors has declared its regular quarterly cash dividend of $0.0725 per share payable September 6, 2013 to shareholders of record August 16, 2013.
"Our success in fiscal 2013 was a product of our relationship banking, and American Federal's brand of local, personal service," stated Peter J. Johnson, President and CEO. "By focusing on our customers' needs and delivering the banking services that make them more productive, we sustained our loan and deposit growth momentum. Our lending teams are proactive in all of the communities we serve."To provide further growth in our franchise and to deploy additional capital, we focused on expansion, with the acquisition of seven branch locations from Sterling Savings Bank," Johnson continued. "The acquisition added approximately $41.2 million in loans and $181.6 million in deposits and more than doubled our franchise to 13 branches, while extending our branch network throughout Southern Montana. The acquisition also provided us with three new mortgage loan origination locations in Bozeman, Missoula and Kalispell, which is helping to add to our market presence in these areas. We also acquired a wealth management division in the acquisition, which has been a profitable line of business for us and has provided a solid contribution to our robust noninterest income growth. Over time, we expect this expansion to build long-term franchise value."
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