HELENA, Mont., Jan. 28, 2020 (GLOBE NEWSWIRE) — Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company, ” “Eagle”), the keeping business of chance Bank of Montana, today reported net gain increased 61.8per cent to $2.3 million, or $0.36 per diluted share, into the 4th quarter of 2019, when compared with $1.4 million, or $0.26 per diluted share, into the 4th quarter of 2018. Within the preceding quarter, net gain had been an archive $4.1 million, or $0.63 per diluted share, showing the higher level of contribution from home loan banking and gains from purchase of loans. Development from the two purchases finished in the last couple of years additionally contributed to record profits and earnings this present year. There have been $505,000 in acquisition-related expenses into the 4th quarter of 2019, in comparison to $517,000 into the preceding quarter and $582,000 into the fourth quarter this past year.
When it comes to 12 months 2019, net gain significantly more than doubled to $10.9 million, or $1.69 per diluted share, when compared with $5.0 million, or $0.91 per diluted share, in 2018. There have been $2.2 million in acquisition-related costs for the compared to $1.2 million in acquisition-related expenses in 2018 year.
Eagle’s board of directors declared a cash that is quarterly of $0.095 per share on January 23, 2020. The dividend will undoubtedly be payable March 6, 2020 to investors of record February 14, 2020. The existing annualized dividend yield is 1.75% centered on current market rates.
“We delivered record profits for 2019, fueled by stability sheet expansion, strong top-line income development, and also the effective integration associated with the two purchases finished in the final 2 yrs, ” said Peter J.