HELENA, Montana, April 24, 2018 (GLOBE NEWSWIRE) — Eagle Bancorp Montana, Inc. (NASDAQ:EBMT), (the “Company,” “Eagle”), the holding company of Opportunity Bank of Montana, today reported net income was $573,000, or $0.11 per diluted share, in the first quarter of 2018, compared to $763,000, or $0.20 per diluted share, in the first quarter of 2017. First quarter 2018 operating results were impacted by $234,000 of acquisition-related expenses which reduced net income by $0.04 per diluted share. This compares to no acquisition expenses in the first quarter of 2017. In the fourth quarter of 2017, following a writedown of its deferred tax asset, which resulted in an additional tax expense of $715,000, or $0.15 per diluted share, net income was $553,000, or $0.11 per diluted share. The preceding quarter results were also impacted by $400,000 of acquisition-related expenses which reduced net income by $0.08 per diluted share.
Additionally, Eagle’s board of directors declared its regular quarterly cash dividend of $0.09 per share. The dividend will be payable June 1, 2018 to shareholders of record May 11, 2018. The current annualized yield is 1.73% based on recent market prices.