Eagle Bancorp Montana, Inc. Declares Regular Quarterly Cash Dividend, Payable on March 1, 2013; Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Announces Net Charge Offs for the Second Quarter Ended December 31, 2012
January 24, 2013 at 10:30 pm IST
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Eagle Bancorp Montana, Inc. announced its board of directors has declared a regular quarterly cash dividend of $0.07125 per share payable on March 1, 2013 to shareholders of record on February 8, 2013.
The company reported unaudited earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported total interest and dividend income of $3,499,000 against $3,660,000 a year ago. Net interest income was $2,913,000 against $2,832,000 a year ago. Net interest income after provision for loan losses was $2,726,000 against $2,507,000 a year ago. Loss before provision for income taxes was $143,000 against income before provision for income taxes of $702,000 a year ago. Net loss was $40,000 or $0.01 loss per diluted share against net income of $487,000 or $0.12 per diluted share a year ago. Return on average assets was 0.22% against 0.55% a year ago. Return on average equity was 1.41% against 3.44% a year ago. Tangible book value per share as on December 31, 2012 was $11.68 against $13.71 as on December 31, 2011. Revenues increased 14.1% to $4.83 million, compared to $3.91 million a year ago.
For the six months, the company reported total interest and dividend income of $6,724,000 against $7,313,000 a year ago. Net interest income was $5,572,000 against $5,591,000 a year ago. Net interest income after provision for loan losses was $5,150,000 against $5,008,000 a year ago. Income before provision for income taxes was $421,000 against $1,317,000 a year ago. Net income was $382,000 or $0.10 per diluted share against $915,000 or $0.23 per diluted share a year ago. Revenues increased 25.3% to $9.06 million compared to $7.24 million in the first six months of fiscal 2012.
Net charge offs were $162,000 in the second quarter compared to $375,000 in the second 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. Declares Regular Quarterly Cash Dividend, Payable on March 1, 2013; Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Announces Net Charge Offs for the Second Quarter Ended December 31, 2012