Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), the parent company of Opportunity Bank of Montana, announced today a net income of $2.7 million, or $0.34 per diluted share, for the third quarter of 2024. This marks an increase from the previous quarter’s net income of $1.7 million, or $0.22 per diluted share, and is consistent with the $2.6 million, or $0.34 per diluted share, reported in the same quarter last year. For the first nine months of 2024, the company reported a net income of $6.3 million, or $0.81 per diluted share, compared to $7.9 million, or $1.01 per diluted share, during the same period in 2023.
On October 17, 2024, Eagle’s board of directors declared a quarterly cash dividend of $0.1425 per share, set to be paid on December 6, 2024, to shareholders on record as of November 15, 2024. This dividend reflects an annualized yield of 3.49% based on recent market prices.
“We are pleased to report improved operating results for the third quarter, with both net interest income and noninterest income increasing from the second quarter,” stated Laura F. Clark, President and CEO. “As in previous quarters, we have been selective in our loan additions, adhering to disciplined pricing strategies. This approach resulted in a modest loan growth of 1.1% for the quarter and 4.0% year-over-year. Additionally, total deposits grew by 2.0% compared to the previous quarter, highlighting our attractive deposit mix. With a strong deposit base, excellent credit quality, and solid capital levels, we are well-positioned for growth as we move through the rest of 2024 and into 2025.”
by: DNU staff