Eagle Bancorp Montana, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Announces Net Loan Charge-Offs for the Second Quarter Ended December 31, 2014
January 27, 2015 at 12:04 pm
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Eagle Bancorp Montana, Inc. announced unaudited earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported total interest and dividend income of $4,905,000 compared to $4,317,000 a year ago. Income before income taxes was $412,000 compared to $504,000 a year ago. Net income was $924,000 or $0.24 per basic and diluted share compared to $474,000 or $0.12 per basic and diluted share a year ago. Return on average assets was 0.67% compared to 0.37% a year ago. Return on average equity was 6.92% compared to 3.87% a year ago.
For the six months, the company reported total interest and dividend income of $9,608,000 compared to $8,458,000 a year ago. Income before income taxes was $1,177,000 compared to $1,207,000 a year ago. Net income was $1,642,000 or $0.42 per basic and diluted share compared to $1,141,000 or $0.29 per basic and diluted share a year ago. Tangible book value per share was $12.07 compared to $10.17 a year ago. Return on average assets was 0.60% compared to 0.45% a year ago. Return on average equity was 6.20% compared to 4.71% a year ago.
For the quarter, the company reported net loan charge-offs of $150,000 compared to $23,000 a year ago.
Eagle Bancorp Montana, Inc. is the bank holding company of Opportunity Bank of Montana (the Bank). It provides loan and deposit services to customers who are predominantly small businesses and individuals throughout Montana. It is a diversified lender with a focus on residential mortgage loans, commercial real estate mortgage loans, commercial business loans, agricultural loans and second mortgage/home equity loan products. It offers a variety of deposit accounts. Deposit account terms vary, primarily as to the required minimum balance amount, the amount of time that the funds must remain on deposit and the applicable interest rate. Its current deposit products include certificates of deposit accounts ranging in terms from 90 days to five years, as well as, checking, savings and money market accounts. Individual retirement account (IRA) certificates are included in certificates of deposit. It also originates in commercial real estate, home equity, and consumer and commercial loans.
Eagle Bancorp Montana, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Announces Net Loan Charge-Offs for the Second Quarter Ended December 31, 2014