Eagle Bancorp Montana, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended of December 31, 2018; Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2018
January 29, 2019 at 12:00 pm EST
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Eagle Bancorp Montana, Inc. reported unaudited earnings results for the fourth quarter and full year ended of December 31, 2018. For the quarter, the company's net interest income was $7,607,000 compared with $6,244,000 a year ago. Net income was $1,444,000 compared with $553,000 a year ago. Basic earnings per share were $0.26 compared with $0.11 a year ago.
For the full year, the company reported net interest income was $29,741,000 compared with $23,766,000 a year ago. Net income was $4,982,000 compared with $4,103,000 a year ago. Basic earnings per share were $0.92 compared with $1.01 a year ago. Diluted earnings per share were $0.91 compared with $0.99 a year ago.
For the quarter, the company had net loan charge-offs of $11,000 compared to $44,000 in the fourth quarter 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. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended of December 31, 2018; Reports Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2018