Eagle Bancorp Montana ( (EBMT) ) has released its Q4 earnings. Here is a breakdown of the information Eagle Bancorp Montana presented to its investors.
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Eagle Bancorp Montana, Inc., headquartered in Helena, Montana, operates as a bank holding company through its subsidiary, Opportunity Bank of Montana, providing community banking services across the state.
In the fourth quarter of 2024, Eagle Bancorp Montana reported a net income of $3.4 million, or $0.44 per diluted share, marking a notable increase from both the previous quarter and the same quarter the prior year. For the entire year, the company earned $9.8 million, slightly down from $10.1 million in 2023. The company’s board has declared a quarterly cash dividend of $0.1425 per share.
Key highlights from the earnings report include a 26.7% increase in net income for the fourth quarter compared to the preceding quarter, and a 2.8% rise in total deposits since last year. The net interest margin expanded to 3.59%, reflecting an improvement in cost management and asset yield. Despite a slight decrease in total loans from the previous quarter, there was a year-over-year increase in commercial real estate and agricultural loans.
Eagle Bancorp’s management highlighted strong deposit growth and stable credit quality as major contributors to the quarterly performance. The company’s strategic focus on maintaining a stable core deposit base and anticipating steady loan growth in the upcoming year reflects their adaptive approach in a fluctuating interest rate environment.
Looking ahead, Eagle Bancorp Montana anticipates continued improvement in its cost of funds and plans to leverage its robust deposit base for sustained growth in 2025, while maintaining its commitment to quality credit and community banking services.
