Eagle Bancorp Montana, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Loan Charge-Offs for the Fourth Quarter; Declares Quarterly Cash Dividend, Payable on March 4, 2016
January 26, 2016 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 December 31, 2015. For the quarter, the company reported total interest and dividend income of $5,570,000 against $4,905,000 a year ago. Income before income taxes was $814,000 against $412,000 a year ago. Net income was $881,000 or $0.22 diluted per share against $924,000 or $0.24 diluted per share a year ago. Tangible book value per share was $12,670 against $17,070 a year ago. Return on average assets was 0.57% against 0.67% a year ago. Return on average equity was 6.39% against 6.92% a year ago.
For the full year, the company reported total interest and dividend income of $20,463,000 against $18,428,000 a year ago. Income before income taxes was $2,743,000 against $1,731,000 a year ago. Net income was $2,580,000 or $0.67 diluted per share against $2,612,000 or $0.66 diluted per share a year ago. Return on average assets was 0.44% against 0.47% a year ago. Return on average equity was 4.77% against 4.93% a year ago.
For the quarter, the net loan charge-offs for was $23,000 against $150,000 a year ago.
The board of directors of the company declared its regular quarterly cash dividend of $0.0775 per share. The dividend will be payable on March 4, 2016 to shareholders of record February 12, 2016.
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 December 31, 2015; Reports Net Loan Charge-Offs for the Fourth Quarter; Declares Quarterly Cash Dividend, Payable on March 4, 2016