UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of registrant as specified in its charter) Delaware 27-1449820 State or other jurisdictio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of small business issuer as specified in its charter) Delaware ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of small business issuer as specified in its charter) Delaware (Stat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of small business issuer as specified in its charter) 27-1449820 De ...

Financing Activities - The Company issued $40.00 million in 3.50% fixed-to-floating rate subordinated notes due 2032, with $10.00 million used to redeem 5.75% fixed senior notes[27]. - The Company issued $15.00 million in subordinated notes due in 2030 with a fixed interest rate of 5.50%[84]. - The Company completed a tender offer in June 2021, purchasing 250,000 shares at $24.00 per share, totaling approximately $6.28 million[28]. - The Company repurchased 100,000 shares at an average price of $22.71 per share in February 2022[26]. - The company authorized the repurchase of up to 100,000 shares of its common stock on July 22, 2021, but no shares were purchased during the year ended December 31, 2021[211]. Loan Portfolio Composition - As of December 31, 2021, the Company had $1.84 billion in residential 1-4 family mortgage loans, representing 10.82% of total loans[50]. - The Company’s loan portfolio includes $45.64 million in residential 1-4 family construction loans, accounting for 4.88% of the total loan portfolio as of December 31, 2021[52]. - Commercial real estate loans constituted 43.92% of the total loan portfolio, amounting to $410.57 million as of December 31, 2021[55]. - Commercial construction and development loans accounted for $92.40 million, or 9.88% of the total loan portfolio at the same date[56]. - Home equity loans represented $51.75 million, or 5.54% of total loans as of December 31, 2021[57]. - Consumer loans totaled $18.46 million, making up 1.97% of the total loan portfolio as of December 31, 2021[59]. - Commercial business loans amounted to $101.54 million, or 10.86% of the total loan portfolio, including $4.46 million in Paycheck Protection Program loans[63]. - Agricultural production loans were $46.34 million, representing 4.96% of the total loan portfolio as of December 31, 2021[63]. - As of December 31, 2021, approximately 12.12% of the total gross loan portfolio was comprised of farmland and agricultural production loans, totaling $113.34 million[190]. - The total amount of loans in process of origination for sale into the secondary market with interest rate lock commitments was $84.67 million as of December 31, 2021[70]. Growth Strategy and Acquisitions - The Company aims to enhance market share in Montana through organic growth and opportunistic acquisitions, with a focus on commercial real estate and business loans, which constituted approximately 76.79% of total loans as of December 31, 2021[43]. - The Company plans to acquire First Community Bancorp, Inc., adding $377 million in assets, $306 million in deposits, and $208 million in gross loans upon completion of the merger[32]. - The company’s growth strategy includes potential acquisitions, but there are risks associated with integrating acquired assets and managing growth effectively[180]. - The company’s growth strategy includes acquisitions, but successful integration of acquired businesses is critical to avoid adverse effects on financial condition and results of operations[186]. Employee Relations and Development - As of December 31, 2021, the company had 352 full-time employees and 18 part-time employees, with a good relationship with its employees[86]. - The company emphasizes employee retention through competitive wages, valuable benefits, and a commitment to employee well-being, which aids in retaining top-performing employees[87]. - The company invests in employee professional development, including tuition reimbursement for courses[89]. Regulatory Compliance and Risks - The company is classified as "well-capitalized" under the prompt corrective action framework as of December 31, 2021, meeting all minimum capital standards[114]. - Federal regulations require a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, and a total capital to risk-based assets of 8.0%[107]. - The bank's general permissible lending limit for loans-to-one-borrower is 15.0% of unimpaired capital and surplus, with an additional amount of 10.0% if the loan is fully secured[96]. - The bank is subject to extensive regulation and supervision by the Federal Reserve Bank of Minneapolis and the Montana Division of Banking and Financial Institutions[93]. - Eagle is subject to regulatory oversight by the Federal Reserve Board (FRB) and must comply with various regulations regarding transactions with affiliates and insiders[117][118]. - Eagle must obtain FRB approval before acquiring more than 5.0% of the voting stock of another bank or bank holding company[120]. - As of December 31, 2021, Eagle was in compliance with regulations governing extensions of credit to insiders[118]. - The company operates in a highly regulated environment, and changes in laws and regulations could materially impact operations and financial condition[194]. Financial Performance and Income Sources - The Company’s mortgage loan servicing fees increased to $4.10 million in 2021 from $3.21 million in 2020[48]. - The company sold $1.06 billion in mortgage loans during 2021, indicating significant growth in noninterest income from mortgage banking activities[175]. - For the year ended December 31, 2021, the company reported a significant increase in net interest income, driven by a favorable interest rate spread and growth in interest-earning assets[216]. - Noninterest income, primarily from service charges and loan fees, is expected to provide a steady revenue stream, particularly during periods of high mortgage loan origination volumes[217]. - The company recognizes the importance of fee income to reduce reliance on specialized lending, maintaining a significant loan serviced portfolio[218]. - Provisions for loan losses and general administrative expenses continue to impact net income, necessitating careful management of operational costs[217]. Market and Economic Conditions - The COVID-19 pandemic has adversely affected Eagle's business, financial position, and results of operations, with potential increases in credit losses and impacts on the deposit base[126][127]. - Economic conditions in local markets, particularly in Montana, may differ from national trends, affecting loan demand and credit quality[140]. - Changes in interest rates significantly impact Eagle's net interest income and overall financial condition[144]. - The retirement of LIBOR as a reference rate may create uncertainty and potential expenses for Eagle in implementing substitute indices[147][148]. - Competition in the banking and financial services industry is intense, with many competitors having greater resources and lending limits[150]. - The overall economic environment, including interest rates and government policies, remains a critical factor influencing the company's lending and deposit activities[215]. Operational Risks - The company is subject to physical and financial risks associated with climate change, which may lead to increased operational costs and regulatory compliance expenses[151]. - The company may experience adverse effects from technological changes allowing consumers to bypass traditional banking services, potentially leading to loss of fee income and customer deposits[191]. - The company faces risks related to system failures and security breaches, which could negatively impact earnings and customer trust[157]. - The company may face significant risks if the proposed merger with FCB is not completed, including costs related to the merger and potential negative market reactions[184]. - The company may face increased provisions for loan losses as it continues to grow its commercial loan portfolio, impacting net income[162]. - The company’s accounting policies require estimates and assumptions that could lead to material losses if incorrect, affecting financial reporting[166]. - The company’s operations are located in areas susceptible to severe weather events, which could disrupt business and adversely affect financial results[152]. Asset Management - The investment policy allows for investments in high credit quality instruments while maximizing total return within interest rate risk and liquidity management guidelines[73]. - The company’s investment in the Federal Home Loan Bank of Des Moines was valued at $1.70 million as of December 31, 2021, with potential impairment risks[197]. - The company has 27 locations, including 23 full-service branches, with a total book value of premises and equipment owned and leased amounting to $67.27 million[203]. - The common stock closing price on December 31, 2021, was $22.98 per share, with 6,794,811 shares outstanding held by approximately 874 shareholders[209]. - Recent acquisitions have expanded the company's agricultural loan portfolio, contributing to higher interest income and improved interest rate sensitivity[218]. - The company aims to mitigate dependence on the residential mortgage market through diversification into commercial loans and other lending products[218].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of small business issuer as specified in its charter) 27-144982 ...

Financial Performance - The company reported a net income of $80,607 thousand for the six months ended June 30, 2021, compared to $73,982 thousand for the same period in 2020, reflecting an increase of about 9.0%[18]. - Net income for the three months ended June 30, 2021, was $2,681, a decrease of 53.3% from $5,735 in the same period of 2020[24]. - Net income for June 2021 was $7,946,000, a decrease from $9,662,000 in June 2020, representing a decline of approximately 17.7%[34]. - Net income for the six months ended June 30, 2021 was $7.95 million, a decrease of $1.71 million from $9.66 million in the same period of 2020[186]. - The company recorded net losses of $1.043 million for the three months ended June 30, 2021, compared to net gains of $2.155 million for the same period in 2020[100]. - The company reported net losses of $2.326 million for the six months ended June 30, 2021, compared to net gains of $3.402 million for the same period in 2020[100]. Assets and Liabilities - As of June 30, 2021, total assets increased to $1,359,355 thousand from $1,257,634 thousand as of December 31, 2020, representing a growth of approximately 8.1%[18]. - Total liabilities amounted to $1,180,240 thousand, up from $1,077,183 thousand year-over-year[169]. - The total estimated fair value of loans receivable was $880,484,000 as of June 30, 2021, with a carrying amount of $873,930,000[121]. - The total amount of real estate owned and other repossessed property was $6,000 as of June 30, 2021, down from $25,000 at December 31, 2020[156]. Deposits - Total deposits rose to $1,145,602 thousand, up from $1,033,083 thousand, indicating an increase of about 10.8%[18]. - Net increase in deposits for the six months ended June 30, 2021, was $112,519,000, compared to $59,879,000 for the same period in 2020, representing an increase of 87.8%[37]. - Total deposits rose by $112.52 million, or 10.9%, to $1.15 billion at June 30, 2021, from $1.03 billion at December 31, 2020[163]. Loans - Total loans, net as of June 30, 2021, amounted to $862,030,000, an increase from $829,503,000 as of December 31, 2020, reflecting a growth of approximately 3.0%[71]. - Total loans increased by $32.53 million, or 3.9%, to $862.03 million as of June 30, 2021, compared to $829.50 million at December 31, 2020[153]. - The total amount of charge-offs for the period included $33,000, while recoveries amounted to $11,000, resulting in a net charge-off of $22,000[74]. - The company reported a total of 3,734 nonaccrual loans, with 1,509 loans past due between 30-89 days and 2,225 loans past due for 90 days or more[77]. Income and Expenses - Total interest and dividend income for the three months ended June 30, 2021, was $12,125, a slight decrease from $12,133 in the same period of 2020[21]. - Total noninterest income totaled $11,308 for the three months ended June 30, 2021, down from $13,698 in the same period of 2020, representing a decrease of 17.4%[24]. - Total noninterest expense increased to $19,037 for the three months ended June 30, 2021, compared to $15,133 in the same period of 2020, marking a rise of 25.5%[24]. - Noninterest expense increased by $8.27 million or 29.6% to $36.25 million, primarily due to higher salaries and employee benefits expenses[192]. Capital and Equity - Shareholders' equity slightly decreased to $152,744 thousand from $152,938 thousand, a decline of approximately 0.1%[18]. - The company is committed to maintaining a strong capital position to support its growth strategy and manage potential risks associated with market volatility[12]. - The Bank's Tier I leverage ratio decreased slightly to 11.40% as of June 30, 2021, compared to 11.72% at December 31, 2020, remaining well above the regulatory requirement of 4.00%[200]. Market and Economic Conditions - Management anticipates continued challenges due to the ongoing COVID-19 pandemic, which may impact credit quality and overall economic conditions[13]. - Future performance may be influenced by changes in regulatory requirements and economic conditions affecting the financial services industry[13]. - The company has implemented various borrower accommodations due to COVID-19, including 90-day deferrals and interest-only payments, which are not classified as TDRs under the CARES Act[84]. Strategic Initiatives - The company has identified potential growth opportunities in new markets and is focused on strategic acquisitions to enhance its operational capabilities[12]. - The company is focused on expanding its market presence through its wholly owned subsidiary, Opportunity Bank of Montana, which engages in consumer and commercial lending[129]. - The Bank's management aims to increase net interest margin and fee income while controlling operating expenses to drive earnings growth[131].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. | --- | --- | |---------------------------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | -- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. Commission file number 1-34682 Eagle Bancorp Montana, Inc. (Exact name of small business issuer as specified in its charter) 27-144982 ...