HELENA, Mont., April 28, 2026 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (NASDAQ:EBMT), (the "Company," "Eagle"), the holding company of Opportunity Bank of Montana (the "Bank"), today reported net income of $4.0 million, or $0.51 per diluted share, in the first quarter of 2026, compared to $4.7 million, or $0.60 per diluted share, in the preceding quarter, and $3.2 million, or $0.41 per diluted share, in the first quarter of 2025.

Eagle's board of directors declared a quarterly cash dividend of $0.145 per share on April 23, 2026. The dividend will be payable June 5, 2026, to shareholders of record May 15, 2026. The current dividend represents an annualized yield of 2.72% based on the average closing price of the Company's common stock reported on NASDAQ during the first quarter of 2026 of $21.32 per share.

"Eagle's first quarter results reflect the continued strength of our franchise and the durability of our core earnings," said Laura F. Clark, President and CEO. "Net income and earnings per share increased compared to the first quarter of last year, driven by further improvement in our funding costs, resilient asset yields and disciplined expense management. Net interest margin continued to expand during the quarter, and with a strong core deposit base and a diversified loan portfolio, we remain well positioned to pursue opportunities across our Montana market and deliver long term value for our shareholders."

First Quarter 2026 Highlights (at or for the three-month period ended March 31, 2026, except where noted):

Net income was $4.0 million, or $0.51 per diluted share, in the first quarter of 2026, compared to $4.7 million, or $0.60 per diluted share in the preceding quarter, and $3.2 million, or $0.41 per diluted share, in the first quarter a year ago.
Net interest margin ("NIM") was 4.11% in the first quarter of 2026, a three-basis point increase compared to 4.08% in the preceding quarter and a 37-basis point increase compared to the first quarter a year ago.
Net interest income, before the provision for credit losses, decreased 2.4% to $18.7 million in the first quarter of 2026, compared to $19.2 million in the fourth quarter of 2025, and increased 10.7% compared to $16.9 million in the first quarter of 2025.
Revenues (net interest income before the provision for credit losses, plus noninterest income) were $23.6 million in the first quarter of 2026, compared to $24.3 million in the preceding quarter and $20.9 million in the first quarter a year ago.
Total loans at March 31, 2026 remained relatively consistent, compared to a year earlier, and three months earlier.
The allowance for credit losses represented 1.15% of portfolio loans and 315.0% of nonperforming loans at March 31, 2026, compared to 1.10% of total portfolio loans and 313.2% of nonperforming loans at March 31, 2025, and compared to 1.14% of total portfolio loans and 308.4% of nonperforming loans at December 31, 2025.
Total deposits increased $96.1 million or 5.7% to $1.79 billion at March 31, 2026, compared to a year earlier, and increased $4.5 million or 0.3%, compared to December 31, 2025.
The Company's available borrowing capacity was approximately $593.1 million at March 31, 2026, compared to $601.0 million at December 31, 2025.
The Company paid a quarterly cash dividend in the first quarter of $0.145 per share on March 6, 2026, to shareholders of record February 13, 2026.

Balance Sheet Results

Total assets were $2.09 billion at March 31, 2026, unchanged compared to a year earlier, and $2.11 billion three months earlier. The investment securities portfolio totaled $274.9 million at March 31, 2026, compared to $291.7 million a year ago, and $281.7 million at December 31, 2025.

Eagle originated $75.0 million in new residential mortgages during the quarter and sold $66.1 million in residential mortgages, with an average gross margin on sale of mortgage loans of approximately 2.54%. This production compares to residential mortgage originations of $66.8 million in the preceding quarter with sales of $64.3 million and an average gross margin on sale of mortgage loans of approximately 3.21%.

Total loans decreased $4.2 million compared to a year ago and were unchanged from three months earlier. Commercial real estate loans increased modestly to $667.7 million at March 31, 2026, compared to $666.3 million a year earlier. Commercial real estate loans were comprised of 72.5% non-owner occupied and 27.5% owner occupied at March 31, 2026. Agricultural and farmland loans decreased 1.4% to $280.5 million at March 31, 2026, compared to $284.6 million a year earlier. Residential mortgage loans decreased 3.1% to $145.1 million, compared to $149.7 million a year earlier. Commercial loans increased 8.5% to $151.6 million, compared to $139.7 million a year ago. Commercial construction and development loans decreased 10.7% to $98.3 million, compared to $110.1 million a year ago. Home equity loans increased 8.6% to $109.3 million, residential construction loans decreased 3.9% to $43.7 million, and consumer loans decreased 14.2% to $23.2 million, compared to a year ago.

"Deposit costs continued to decline in the first quarter as we maintained our strong core deposit base and maturing CDs repriced lower, and we expect this momentum to continue through the remainder of the year," said Miranda Spaulding, Chief Financial Officer.

Total deposits increased to $1.79 billion at March 31, 2026, compared to $1.69 billion at March 31, 2025, and $1.78 billion at December 31, 2025. Noninterest-bearing checking accounts represented 24.5%, interest-bearing checking accounts represented 12.2%, savings accounts represented 12.0%, money market accounts comprised 24.8% and time certificates of deposit made up 26.5% of the total deposit portfolio at March 31, 2026. The average cost of total deposits was 1.52% in the first quarter of 2026, compared to 1.53% in the preceding quarter and 1.67% in the first quarter of 2025. The estimated amount of uninsured deposits was approximately $354.1 million, or 20% of total deposits, at March 31, 2026, compared to $354.6 million, or 20% of total deposits, at December 31, 2025.

FHLB advances and other borrowings decreased to $26.7 million at March 31, 2026, compared to $125.0 million at March 31, 2025, and $38.0 million at December 31, 2025. The average cost of FHLB advances and other borrowings was 5.46% in the first quarter of 2026, compared to 5.07% in the preceding quarter and 4.75% in the first quarter of 2025. Other borrowings at March 31, 2026, and December 31, 2025 include the Company's line of credit draw for $15.0 million at an average rate of 6.34% for the first quarter of 2026, compared to 6.61% for the fourth quarter of 2025.

Shareholders' equity was $193.0 million at March 31, 2026, compared to $177.6 million a year earlier and $191.8 million three months earlier. Book value per share of $24.22 at March 31, 2026 increased 8.8%, compared to $22.26 a year earlier, and increased 0.5%, compared to $24.10 three months earlier. Tangible book value per share, a non-GAAP financial measure calculated by dividing shareholders' equity, less goodwill and core deposit intangible, by common shares outstanding, of $19.48 at March 31, 2026 increased 12.1%, compared to $17.38 a year earlier and increased 0.8%, compared to $19.32 three months earlier.

Operating Results

"Our net interest margin improved three-basis points sequentially and expanded 37-basis points over the prior year quarter, driven by a meaningful reduction in funding costs that more than offset modest compression in earning asset yields. While the interest rate environment remains increasingly tied to the broader policy backdrop, we remain optimistic that further easing, should it materialize, will provide additional relief on the liability side of the balance sheet and further net interest margin expansion," said Spaulding.

Eagle's NIM was 4.11% in the first quarter of 2026, compared to 4.08% in the preceding quarter and 3.74% in the first quarter a year ago. The interest accretion on acquired loans totaled $185,000 and resulted in a four-basis point increase in the NIM during the first quarter of 2026, compared to $138,000 and a three-basis point increase in the NIM during the preceding quarter. Average yields on interest earning assets for the first quarter of 2026 were 5.76%, compared to 5.83% in the fourth quarter of 2025 and 5.76% in the first quarter a year ago. Funding costs for the first quarter of 2026 decreased to 2.15%, compared to 2.28% in the fourth quarter of 2025 and 2.54% in the first quarter of 2025.

Net interest income, before the provision for credit losses, was $18.7 million in the first quarter of 2026, compared to $19.2 million in the fourth quarter of 2025, and increased 10.7% compared to $16.9 million in the first quarter of 2025. Revenues for the first quarter of 2026 were $23.6 million, compared to $24.3 million in the preceding quarter and increased 12.7% compared to $20.9 million in the first quarter a year ago.

Total noninterest income was $4.9 million in the first quarter of 2026, compared to $5.1 million in the preceding quarter, and increased 21.5% compared to $4.0 million in the first quarter a year ago. Net mortgage banking income, the largest component of noninterest income, totaled $2.4 million in the first quarter of 2026, compared to $2.6 million in the preceding quarter and $2.1 million in the first quarter a year ago.

"We remain disciplined in how we manage costs while continuing to direct capital towards the investments we believe will generate the most meaningful long-term results," said Darryl Rensmon, Chief Operating Officer. Eagle's first quarter noninterest expense was $18.2 million, which was unchanged compared to the preceding quarter. The $1.2 million, or 7.1% increase compared to the first quarter a year ago was largely due to higher salaries and employee benefits expense.

For the first quarter of 2026, the Company recorded income tax expense of $1.1 million, compared to $1.4 million in the preceding quarter and $631,000 in the first quarter of 2025. The effective tax rate for the first quarter of 2026 was 21.8%, compared to 22.2% for the fourth quarter of 2025 and 16.3% for the first quarter of 2025.

Credit Quality

Eagle recorded a $279,000 provision for credit losses for the first quarter of 2026, compared to a $39,000 provision for credit losses in the preceding quarter and a $42,000 provision for credit losses in the first quarter a year ago. The allowance for credit losses represented 315.0% of nonperforming loans at March 31, 2026, compared to 308.4% three months earlier and 313.2% a year earlier. Nonperforming loans were $5.5 million at March 31, 2026, $5.6 million at December 31, 2025, and $5.3 million a year earlier. Net loan charge-offs totaled $49,000 in the first quarter of 2026, compared to $99,000 in the preceding quarter and $2,000 in the first quarter a year ago. The allowance for credit losses was $17.4 million, or 1.15% of total loans, at March 31, 2026, compared to $17.4 million, or 1.14% of total loans, at December 31, 2025, and $16.7 million, or 1.10% of total loans, a year ago.

Capital Management

Eagles's ratio of tangible common shareholders' equity (shareholders' equity, less goodwill and core deposit intangible) to tangible assets (total assets, less goodwill and core deposit intangible) was 7.55% at March 31, 2026, up from 6.77% a year ago and 7.43% three months earlier. This ratio is a non-GAAP financial measure. For the most comparable GAAP financial measure, see "Reconciliation of Non-GAAP Financial Measures" below. The Bank's Tier 1 capital to adjusted total average assets was 10.85% as of March 31, 2026. As of March 31, 2026, the Bank's regulatory capital was in excess of all applicable regulatory requirements and is deemed well capitalized.

Stock Repurchase Authority

Eagle announced that its Board of Directors has authorized the repurchase of up to 400,000 shares of its common stock beginning May 1, 2026, representing approximately 5.0% of outstanding shares. Under the plan, shares may be purchased by the Company on the open market or in privately negotiated transactions. The extent to which the Company repurchases its shares and the timing of such repurchase will depend upon market conditions and other corporate considerations. The plan is expected to be in place for approximately 12 months, but may be suspended, terminated or modified by the Company's Board of Directors at any time. The plan does not obligate the Company to purchase any particular number of shares.

About the Company

Eagle Bancorp Montana, Inc. is a bank holding company headquartered in Helena, Montana, and is the holding company of Opportunity Bank of Montana, a community bank established in 1922 that serves consumers and small businesses in Montana through 30 banking offices. Additional information is available on the Bank's website at www.opportunitybank.com. The shares of Eagle Bancorp Montana, Inc. are traded on the NASDAQ Global Market under the symbol "EBMT."

Forward Looking Statements

This release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and may be identified by the use of such words as "believe," "will" "expect," "anticipate," "should," "planned," "estimated," and "potential." These forward-looking statements include, but are not limited to statements of our goals, intentions, expectations and anticipations; statements regarding our business plans, prospects, mergers, expense management initiatives, growth and operating strategies; statements regarding the asset quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. These factors include, but are not limited to, changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements; general economic conditions and political events, including the war in the Middle East, either nationally or in our market areas, that are worse than expected; the emergence or continuation of widespread health emergencies or pandemics, including steps taken by governmental and other authorities to contain, mitigate and combat such emergencies or pandemics; the impact of volatility in the U.S. banking industry, including the associated impact of any regulatory changes or other mitigation efforts taken by governmental agencies in response thereto; the direct or indirect impact of any new regulatory, policy or enforcement developments resulting from the policies or actions of the current U.S. presidential administration, including the implementation of tariffs and other protectionist trade policies, including any reciprocal tariffs by foreign countries, and any uncertainties related thereto; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; an inability to access capital markets or maintain deposits or borrowing costs; limitations on Eagle's ability to receive dividends from its subsidiaries; competition among banks, financial holding companies and other traditional and non-traditional financial service providers; loan demand or residential and commercial real estate values in Montana; the concentration of our business in Montana; our ability to continue to increase and manage our commercial real estate, commercial business and agricultural loans; the costs and effects of legal, compliance and regulatory actions, changes and developments, including the initiation and resolution of legal proceedings (including any securities, bank operations, consumer or employee litigation); inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments; possible changes in governmental monetary and fiscal policies, or any leadership changes of those determining such policies; adverse changes in the securities markets that lead to impairment in the value of our investment securities and goodwill; other economic, governmental, competitive, regulatory and technological factors that may affect our operations; our ability to implement new technologies and maintain secure and reliable technology systems including those that involve the Bank's third-party vendors and service providers; cyber incidents, or theft or loss of Company or customer data or money; Eagle's ability to assess and monitor the effect of evolving uses of artificial intelligence on its business and operations; the effects of any U.S. federal government shutdown, or closures or significant staff reductions in agencies regulating our business; our ability to navigate differing social, environmental, and sustainability concerns among governmental administrations, our stakeholders and other activists that may arise from our business activities; the effect of our recent or future acquisitions, including the failure to achieve expected revenue growth and/or expense savings, the failure to effectively integrate their operations, the outcome of any legal proceedings and the diversion of management time on issues related to the integration.

Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. All information set forth in this press release is current as of the date of this release and the company undertakes no duty or obligation to update this information.

Use of Non-GAAP Financial Measures

In addition to results presented in accordance with generally accepted accounting principles utilized in the United States, or GAAP, this release, including the Financial Ratios and Other Data contains non-GAAP financial measures. Non-GAAP financial measures in this release include: 1) core efficiency ratio, 2) tangible book value per share and 3) tangible common equity to tangible assets. The Company uses these non-GAAP financial measures to provide meaningful supplemental information regarding the Company's operational performance, performance trends and financial condition, and to enhance investors' overall understanding of such financial performance. In particular, the use of tangible book value per share and tangible common equity to tangible assets is prevalent among banking regulators, investors and analysts.

The numerator for the core efficiency ratio is calculated by subtracting intangible asset amortization from noninterest expense. Tangible assets and tangible common shareholders' equity are calculated by excluding intangible assets from assets and shareholders' equity, respectively. For these financial measures, our intangible assets consist of goodwill and core deposit intangible. Tangible book value per share is calculated by dividing tangible common shareholders' equity by the number of common shares outstanding. We believe that this measure is consistent with the capital treatment by our bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios and present this measure to facilitate the comparison of the quality and composition of our capital over time and in comparison, to our competitors.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. Further, the non-GAAP financial measure of tangible book value per share should not be considered in isolation or as a substitute for book value per share or total shareholders' equity determined in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Eagle strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. A reconciliation of the GAAP and non-GAAP financial measures is presented below.


Balance Sheet
(Dollars in thousands, except per share data)						(Unaudited)
			March 31,			December 31,			March 31,
			2026			2025			2025

Assets:
	Cash and due from banks		$	19,420		$	24,110		$	21,360
	Interest-bearing deposits in banks			34,217			38,852			1,445
	Federal funds sold			96			-			-
		Total cash and cash equivalents		53,733			62,962			22,805
	Securities available-for-sale, at fair value			274,887			281,692			291,661
	Federal Home Loan Bank ("FHLB") stock			2,734			2,650			7,101
	Federal Reserve Bank ("FRB") stock			4,131			4,131			4,131
	Mortgage loans held-for-sale, at fair value			9,904			7,452			6,223
	Loans:
	Real estate loans:
	Residential 1-4 family			145,070			148,515			149,699
	Residential 1-4 family construction			43,714			35,278			45,508
	Commercial real estate			667,685			635,970			666,265
	Commercial construction and development			98,282			120,289			110,107
	Farmland			160,664			162,580			153,456
	Other loans:
	Home equity			109,278			108,073			100,665
	Consumer			23,154			24,424			26,978
	Commercial			151,580			149,431			139,668
	Agricultural			119,859			134,459			131,162
		Total loans		1,519,286			1,519,019			1,523,508
	Allowance for credit losses			(17,430	)		(17,370	)		(16,720	)
		Net loans		1,501,856			1,501,649			1,506,788
	Accrued interest and dividends receivable			13,613			14,448			13,271
	Mortgage servicing rights, net			14,909			15,043			15,282
	Assets held-for-sale, at cost			-			-			960
	Premises and equipment, net			100,556			101,438			101,759
	Cash surrender value of life insurance, net			55,062			54,708			53,573
	Goodwill			34,740			34,740			34,740
	Core deposit intangible, net			3,045			3,314			4,181
	Other assets			22,681			22,140			25,941
		Total assets	$	2,091,851		$	2,106,367		$	2,088,416

Liabilities:
	Deposit accounts:
	Noninterest-bearing		$	437,574		$	452,183		$	411,272
	Interest-bearing			1,348,502			1,329,416			1,278,694
		Total deposits		1,786,076			1,781,599			1,689,966
	Accrued expenses and other liabilities			41,670			50,482			36,739
	Federal funds purchased			-			105			-
	FHLB advances and other borrowings			26,667			37,917			124,952
	Other long-term debt, net			44,479			44,450			59,186
		Total liabilities		1,898,892			1,914,553			1,910,843

Shareholders' Equity:
	Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding)			-			-			-
	Common stock (par value $0.01 per share; 20,000,000 shares authorized; 8,507,429 shares issued; 7,965,431, 7,957,769 and 7,977,177 shares outstanding at March 31, 2026, December 31,2025, and March 31, 2025, respectively)			85			85			85
	Additional paid-in capital			108,072			108,086			108,451
	Unallocated common stock held by Employee Stock Ownership Plan ("ESOP")			(3,294	)		(3,437	)		(3,867	)
	Treasury stock, at cost (541,998, 549,660 and 530,252 shares at March 31, 2026, December 31, 2025, and March 31, 2025, respectively)			(11,374	)		(11,567	)		(11,517	)
	Retained earnings			114,350			111,521			103,366
	Accumulated other comprehensive loss, net of tax			(14,880	)		(12,874	)		(18,945	)
		Total shareholders' equity		192,959			191,814			177,573
		Total liabilities and shareholders' equity	$	2,091,851		$	2,106,367		$	2,088,416

Income Statement	(Unaudited)
(Dollars in thousands, except per share data)	Three Months Ended
	March 31,		December 31,		March 31,
	2026		2025		2025
Interest and dividend income:
Interest and fees on loans	$	23,570	$	24,623	$	23,320
Securities available-for-sale		2,215		2,296		2,451
FHLB and FRB dividends		138		201		260
Other interest income		299		238		38
Total interest and dividend income		26,222		27,358		26,069
Interest expense:
Deposits		6,661		6,849		6,871
FHLB advances and other borrowings		412		735		1,626
Other long-term debt		446		612		670
Total interest expense		7,519		8,196		9,167
Net interest income		18,703		19,162		16,902
Provision for credit losses		279		39		42
Net interest income after provision for credit losses		18,424		19,123		16,860

Noninterest income:
Service charges on deposit accounts		408		431		389
Mortgage banking, net		2,434		2,568		2,125
Interchange and ATM fees		628		666		593
Appreciation in cash surrender value of life insurance		362		384		350
Other noninterest income		1,049		1,083		559
Total noninterest income		4,881		5,132		4,016

Noninterest expense:
Salaries and employee benefits		10,814		10,887		9,664
Occupancy and equipment expense		2,560		2,505		2,302
Data processing		1,255		1,015		1,330
Software subscriptions		571		680		658
Advertising		301		468		232
Amortization		271		288		320
Loan costs		365		292		372
Federal Deposit Insurance Corporation ("FDIC") insurance premiums		235		237		231
Professional and examination fees		382		387		520
Other noninterest expense		1,457		1,417		1,377
Total noninterest expense		18,211		18,176		17,006

Income before provision for income taxes		5,094		6,079		3,870
Provision for income taxes		1,110		1,350		631
Net income	$	3,984	$	4,729	$	3,239

Basic earnings per common share	$	0.51	$	0.61	$	0.41
Diluted earnings per common share	$	0.51	$	0.60	$	0.41

Basic weighted average shares outstanding		7,818,831		7,807,848		7,812,248

Diluted weighted average shares outstanding		7,844,457		7,824,500		7,823,636

ADDITIONAL FINANCIAL INFORMATION			(Unaudited)
(Dollars in thousands, except per share data)			Three Months Ended or Years Ended
			March 31,			December 31,			March 31,
			2026			2025			2025

Mortgage Banking Activity (For the quarter):
	Net gain on sale of mortgage loans		$	1,678		$	2,062		$	1,349
	Net change in fair value of loans held-for-sale and derivatives			138			(194	)		(115	)
	Mortgage servicing income, net			618			700			891
		Mortgage banking, net	$	2,434		$	2,568		$	2,125

Performance Ratios (For the quarter):
	Return on average assets			0.76	%		0.89	%		0.62	%
	Return on average equity			8.16	%		9.92	%		7.66	%
	Yield on average interest earning assets			5.76	%		5.83	%		5.76	%
	Cost of funds			2.15	%		2.28	%		2.54	%
	Net interest margin			4.11	%		4.08	%		3.74	%
	Core efficiency ratio*			76.07	%		73.63	%		79.77	%

Asset Quality Ratios and Data:			As of or for the Three Months Ended
			March 31,			December 31,			March 31,
			2026			2025			2025

	Nonaccrual loans		$	2,328		$	2,088		$	2,701
	Loans 90 days past due and still accruing			3,206			3,544			2,638
		Total nonperforming loans		5,534			5,632			5,339
	Other real estate owned and other repossessed assets			70			98			46
		Total nonperforming assets	$	5,604		$	5,730		$	5,385

	Nonperforming loans / portfolio loans			0.36	%		0.37	%		0.35	%
	Nonperforming assets / assets			0.27	%		0.27	%		0.26	%
	Allowance for credit losses / portfolio loans			1.15	%		1.14	%		1.10	%
	Allowance for credit losses/ nonperforming loans			314.96	%		308.42	%		313.17	%
	Gross loan charge-offs for the quarter		$	54		$	104		$	6
	Gross loan recoveries for the quarter		$	5		$	5		$	4
	Net loan charge-offs for the quarter		$	49		$	99		$	2


			March 31,			December 31,			March 31,
			2026			2025			2025
Capital Data (At quarter end):
	Common shareholders' equity (book value) per share		$	24.22		$	24.10		$	22.26
	Tangible book value per share**		$	19.48		$	19.32		$	17.38
	Shares outstanding			7,965,431			7,957,769			7,977,177
	Tangible common equity to tangible assets***			7.55	%		7.43	%		6.77	%

Other Information:
	Average investment securities for the quarter		$	280,552		$	282,822		$	293,273
	Average investment securities year-to-date		$	280,552		$	286,079		$	293,273
	Average loans for the quarter ****		$	1,525,274		$	1,548,740		$	1,526,774
	Average loans year-to-date ****		$	1,525,274		$	1,553,083		$	1,526,774
	Average earning assets for the quarter		$	1,846,375		$	1,863,345		$	1,835,210
	Average earning assets year-to-date		$	1,846,375		$	1,860,229		$	1,835,210
	Average total assets for the quarter		$	2,092,280		$	2,115,595		$	2,079,142
	Average total assets year-to-date		$	2,092,280		$	2,111,258		$	2,079,142
	Average deposits for the quarter		$	1,779,066		$	1,773,434		$	1,671,349
	Average deposits year-to-date		$	1,779,066		$	1,724,840		$	1,671,349
	Average equity for the quarter		$	195,349		$	190,759		$	169,088
	Average equity year-to-date		$	195,349		$	182,741		$	169,088

* The core efficiency ratio is a non-GAAP ratio that is calculated by dividing non-interest expense, exclusive of intangible asset amortization, by the sum of net interest income and non-interest income.
** The tangible book value per share is a non-GAAP ratio that is calculated by dividing shareholders' equity, less goodwill and core deposit intangible, by common shares outstanding.
*** The tangible common equity to tangible assets is a non-GAAP ratio that is calculated by dividing shareholders' equity, less goodwill and core deposit intangible, by total assets, less goodwill and core deposit intangible.
**** Includes loans held for sale

Reconciliation of Non-GAAP Financial Measures

Efficiency Ratio	(Unaudited)
(Dollars in thousands)	Three Months Ended
	March 31,			December 31,			March 31,
	2026			2025			2025
Calculation of Efficiency Ratio:
Noninterest expense - efficiency ratio numerator	$	18,211		$	18,176		$	17,006

Net interest income		18,703			19,162			16,902
Noninterest income		4,881			5,132			4,016
Efficiency ratio denominator		23,584			24,294			20,918

Efficiency ratio (GAAP)		77.22	%		74.82	%		81.30	%

Calculation of Core Efficiency Ratio:
Noninterest expense	$	18,211		$	18,176		$	17,006
Intangible asset amortization		(271	)		(288	)		(320	)
Core efficiency ratio numerator		17,940			17,888			16,686

Net interest income		18,703			19,162			16,902
Noninterest income		4,881			5,132			4,016
Core efficiency ratio denominator		23,584			24,294			20,918

Core efficiency ratio (non-GAAP)		76.07	%		73.63	%		79.77	%

Tangible Book Value and Tangible Assets	(Unaudited)
(Dollars in thousands, except per share data)	March 31,			December 31,			March 31,
	2026			2025			2025
Tangible Book Value:
Shareholders' equity	$	192,959		$	191,814		$	177,573
Goodwill and core deposit intangible, net		(37,785	)		(38,054	)	$	(38,921	)
Tangible common shareholders' equity (non-GAAP)	$	155,174		$	153,760		$	138,652

Common shares outstanding at end of period		7,965,431			7,957,769			7,977,177

Common shareholders' equity (book value) per share (GAAP)	$	24.22		$	24.10		$	22.26

Tangible common shareholders' equity (tangible book value) per share (non-GAAP)	$	19.48		$	19.32		$	17.38

Tangible Assets:
Total assets	$	2,091,851		$	2,106,367		$	2,088,416
Goodwill and core deposit intangible, net		(37,785	)		(38,054	)		(38,921	)
Tangible assets (non-GAAP)	$	2,054,066		$	2,068,313		$	2,049,495

Tangible common shareholders' equity to tangible assets (non-GAAP)		7.55	%		7.43	%		6.77	%

	March 31, 2026				December 31, 2025
(Dollars in thousands)	Borrowings Outstanding		Remaining Borrowing Capacity		Borrowings Outstanding		Remaining Borrowing Capacity
Federal Home Loan Bank advances	$	11,667	$	484,796	$	22,917	$	492,553
Federal Reserve Bank discount window		-		23,333		-		23,506
Correspondent bank lines of credit		15,000		85,000		15,105		84,895
Total	$	26,667	$	593,129	$	38,022	$	600,954

Contacts:	Laura F. Clark, President and CEO
	(406) 457-4007
	Miranda J. Spaulding, EVP and CFO
	(406) 441-5010

Eagle Bancorp Montana Earns $4.0 Million, or $0.51 per Diluted Share, in the First Quarter of 2026, Declares Quarterly Cash Dividend of $0.145 Per Share and Renews Stock Repurchase Plan