Eagle Bancorp Montana, Inc.

For the period ended Dec 31, 2024. Filed Mar 14, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 14, 2025

EBMT$20.58-0.8%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years Ended
	December 31,
	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$9,778	$10,056
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	518	1,456
Depreciation	5,170	3,934
Net amortization of investment securities premiums and discounts	1,027	1,051
Amortization of mortgage servicing rights	1,833	1,706
Amortization of right-of-use assets	498	664
Amortization of core deposit intangibles	1,391	1,587
Compensation expense related to restricted stock awards	523	347
ESOP compensation expense for allocated shares	346	331
Deferred income tax benefit	(529)	(671)
Net gain on sale of loans	(6,741)	(11,396)
Originations of loans held-for-sale	(214,323)	(347,711)
Proceeds from sales of loans held-for-sale	217,772	353,778
Net realized loss on sales of available-for-sale securities	141	222
Net appreciation in cash surrender value of life insurance	(3,036)	(1,466)
Net change in:
Accrued interest and dividends receivable	(405)	(1,201)
Other assets	516	(10,273)
Accrued expenses and other liabilities	14,060	6,932
Net cash provided by operating activities	28,539	9,346
CASH FLOWS FROM INVESTING ACTIVITIES:
Activity in available-for-sale securities:
Sales	14,121	34,020
Maturities, principal payments and calls	21,145	32,695
Purchases	(10,980)	(28,126)
FHLB stock redeemed (purchased)	1,413	(4,102)
Loan origination and principal collection, net	(36,204)	(130,742)
(Purchase) proceeds of bank owned life insurance	(3,275)	1,230
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans	3	-
Proceeds from sale of premises and equipment	60	1,009
Purchases of premises and equipment, net	(14,080)	(14,189)
Net cash used in investing activities	(27,797)	(108,205)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	46,033	(77)
Net short-term (payments) advances from FHLB and other borrowings	(107,724)	91,343
Advances on long-term FHLB and other borrowings	135,000	15,000
Payments on long-term FHLB and other borrowings	(62,083)	-
Purchase of treasury stock	(419)	(231)
Dividends paid	(4,535)	(4,442)
Net cash provided by financing activities	6,272	101,593
NET INCREASE IN CASH AND CASH EQUIVALENTS	7,014	2,734
CASH AND CASH EQUIVALENTS, beginning of period	24,545	21,811
CASH AND CASH EQUIVALENTS, end of period	$31,559	$24,545

	Years Ended
	December 31,
	2024	2023
(In Thousands)
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the year for interest	$37,910	$24,815
Cash paid during the year for income taxes, net of refunds	549	3,009
NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES:
(Decrease) increase in fair value of securities available-for-sale	$(273)	$8,704
Mortgage servicing rights recognized	1,356	2,147
Right-of-use assets (used) obtained in exchange for lease liabilities	(151)	11
Loans transferred to real estate and other assets acquired in foreclosure	49	5
(Increase) decrease in commitments to invest in Low-Income Housing Tax Credit projects	(2,445)	2,660
Cumulative effect adjustment to retained earnings due to the adoption of ASC 326 Credit Losses	-	(1,616)

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