Eagle Bancorp Montana(US:EBMT) Globenewswire·2025-04-29 14:00Core Viewpoint - Eagle Bancorp Montana, Inc. reported a net income of $3.2 million for Q1 2025, reflecting a decrease from the previous quarter but a significant increase compared to the same quarter last year, indicating solid operational performance despite market challenges [1][6]. Financial Performance - Net income for Q1 2025 was $3.2 million, or $0.41 per diluted share, down from $3.4 million, or $0.44 per diluted share in Q4 2024, but up 70.7% from $1.9 million, or $0.24 per diluted share in Q1 2024 [1][6]. - Net interest margin (NIM) increased to 3.74% in Q1 2025, up 15 basis points from 3.59% in the previous quarter and 41 basis points from the same quarter last year [6][13]. - Total loans increased by 1.7% to $1.52 billion compared to the previous year, while total deposits rose by $54.4 million, or 3.3%, to $1.69 billion [5][10]. Dividend Declaration - The board declared a quarterly cash dividend of $0.1425 per share, payable on June 6, 2025, representing an annualized yield of 3.43% based on recent market prices [2]. Balance Sheet Highlights - Total assets were $2.09 billion as of March 31, 2025, slightly down from $2.10 billion three months earlier but up from $2.08 billion a year ago [5][29]. - Shareholders' equity increased to $177.6 million, compared to $174.8 million three months earlier and $168.9 million a year ago [12][29]. Loan Portfolio Composition - The loan portfolio showed varied performance: commercial real estate loans increased by 5.3% to $666.3 million, while residential mortgage loans decreased by 4.9% to $149.7 million [8][10]. - Agricultural and farmland loans increased by 10.7% to $284.6 million compared to the previous year [8]. Credit Quality - The allowance for credit losses represented 1.10% of total loans, with nonperforming loans at $5.3 million, reflecting a slight increase from the previous quarter [18][31]. - The company recorded a provision for credit losses of $42,000 in Q1 2025, compared to a recapture in the previous quarter [18]. Capital Management - The tangible common equity to tangible assets ratio was 6.77% as of March 31, 2025, up from 6.57% three months earlier and 6.32% a year ago [19][31]. - The bank's Tier 1 capital to adjusted total average assets was 10.29%, indicating strong capital adequacy [19]. Stock Repurchase Plan - The board authorized the repurchase of up to 400,000 shares of common stock, representing approximately 5.0% of outstanding shares, effective May 1, 2025 [20].