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Eagle Bancorp Montana Earns $862,000, Or $0.21 Per Diluted Share In Fourth Fiscal Quarter And $2.1 Million, Or $0.53 Per Diluted Share In Fiscal Year, Increases Regular Quarterly Cash Dividend To $0.075 Per Share

Stocks in this article: EBMT

HELENA, Mont., July 28, 2014 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (Nasdaq:EBMT), (the "Company," "Eagle"), the holding company of American Federal Savings Bank, today reported it earned $862,000, or $0.21 per diluted share, in its fourth fiscal quarter ended June 30, 2014, compared to $108,000, or $0.03 per diluted share in the preceding quarter and $684,000, or $0.17 per diluted share, in the fourth quarter a year ago. For all of fiscal 2014, Eagle's net income was $2.1 million, or $0.53 per diluted share, compared to $2.0 million, or $0.50 per diluted share, in fiscal 2013.

"Our 2014 operating results reflect our strong asset quality, improving net interest income and growing asset base," said Peter J. Johnson, President and CEO. "The steady economy in Montana has increased loan demand from local business customers, and demand for mortgage loans continues to be strong across most markets in the state."

The Company also announced its board of directors has increased its regular quarterly cash dividend to $0.075 per share from $0.0725 per share. The dividend will be payable September 5, 2014 to shareholders of record August 15, 2014.

Fourth Quarter Fiscal 2014 Highlights

  • Net income was $862,000, or $0.21 per diluted share.
  • Fourth quarter net interest margin was 3.32% compared to 3.29% three months earlier.
  • Total loans increased 5.9% to $276.1 million at June 30, 2014, compared to $260.8 million three months earlier and increased 27.4% compared to $216.7 million a year earlier.
  • Commercial loans increased 58.0%, compared to a year ago, to $34.4 million.
  • Total deposits increased 2.2% to $427.1 million compared to $417.8 million a year earlier.
  • Nonperforming assets remain at a low level and totaled only $980,000, or 0.18% of total assets at June 30, 2014, compared to $1.01 million, or 0.21% of total assets three months earlier and $1.3 million, or 0.26% of total assets a year ago.
  • Nonperforming loans (NPLs) decreased 15.6% to $522,000 at June 30, 2014, compared to $618,000 three months earlier and decreased 32.5% compared to $773,000 a year ago.
  • Capital ratios remain strong with a Tier 1 leverage ratio of 9.60% at June 30, 2014.
  • Declared a regular quarterly cash dividend of $0.075 per share.

Balance Sheet Results

Total assets increased 5.6% to $539.1 million at June 30, 2014, compared to $510.5 million a year earlier.

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