- Net income grew 17.9% to $763,000, or $0.20 per diluted share in the first quarter, compared to $647,000, or $0.17 per diluted share in the first quarter a year ago.
- Revenues (net interest income before the provision for loan losses, plus non-interest income) increased 11.9% to $8.7 million compared to $7.8 million in the same period a year ago.
- Net interest margin was 3.61%, which was unchanged compared to the preceding quarter and a 26 basis point improvement compared to the first quarter a year ago.
- Total loans increased 15.6% to $488.9 million at March 31, 2017, compared to $422.9 million a year earlier.
- Commercial real estate loans increased 20.6% to $234.5 million, or 48.0% of total loans at March 31, 2017, compared to $194.5 million, or 46.0% of total loans a year earlier.
- Total deposits increased 6.5% to $526.3 million at March 31, 2017, from $494.4 million a year earlier.
- Capital ratios remain strong with a tangible shareholders' equity ratio of 11.42% at March 31, 2017.
- Declared quarterly cash dividend of $0.08 per share, providing a 1.77% current yield at recent market prices.
HELENA, Mont., April 21, 2017 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (NASDAQ:EBMT), (the "Company," "Eagle"), the holding company of Opportunity Bank of Montana, today reported first quarter net income increased 17.9% to $763,000, or $0.20 per diluted share, compared to $647,000, or $0.17 per diluted share, in the first quarter a year ago. In the preceding quarter, Eagle earned $1.4 million, or $0.37 per diluted share. Eagle's board of directors declared a regular quarterly cash dividend of $0.08 per share. The dividend will be payable June 2, 2017 to shareholders of record May 12, 2017. The current annualized yield is 1.77% at recent market prices. "We started the year with another quarter of consistent profitability, supported by a stable net interest margin, strong loan and deposit growth, while maintaining asset quality," said Peter J. Johnson, President and CEO. "Western Montana continues to benefit from a strong economy, and we are well positioned to grow the profitability of the bank and claim additional market share in our markets." First Quarter 2017 Highlights (at or for the three-month period ended March 31, 2017, except where noted)