Eagle Bancorp Montana, Inc. Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Announces Net Charge-Offs for First Quarter 2018; Provides Effective Tax Rate Guidance for the Year 2018
April 24, 2018 at 09:30 pm IST
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Eagle Bancorp Montana, Inc. announced unaudited earnings results for the first quarter ended March 31, 2018. For the period, the company reported net interest income was $6,847,000 against $5,483,000 a year ago. Income before income taxes was $127,000 against $940,000 a year ago. Diluted earnings per share were $0.11 against $0.2 a year ago. Return on average assets of 0.28% against 0.46% a year ago. Return on average equity of 2.58% against 5.19% a year ago. Tangible book value was $14.09 per share at March 31, 2018, compared to $15.22 per share at December 31, 2017, and $13.81 per share a year earlier.
Net charge-offs were $122,000 in the first quarter, compared to $44,000 in the preceding quarter.
The company expects effective tax rate to be approximately 18.3% in 2018, including estimated impact of completed acquisition.
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 First Quarter Ended March 31, 2018; Announces Net Charge-Offs for First Quarter 2018; Provides Effective Tax Rate Guidance for the Year 2018