HELENA, Mont., Oct. 11, 2017 (GLOBE NEWSWIRE) -- Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) (the “Company,” “Eagle”), the holding
company of Opportunity Bank of Montana (the “Bank”), announced today the pricing of an upsized underwritten public offering of
1,050,000 shares of the Company’s common stock at a price to the public of $18.25 per share for gross proceeds of approximately
$19.2 million. The size of the offering was increased from the previously announced size of approximately $18.0 million of common
stock. The net proceeds to the Company, after deducting underwriting discounts and commissions and estimated offering expenses, are
expected to be approximately $17.8 million. The Company has granted the underwriters a 30-day option to purchase from the Company
up to an additional 139,041 shares of the Company's common stock to cover over-allotments. The Company expects to close the
transaction, subject to customary conditions, on or about October 13, 2017.
D.A. Davidson & Co. is serving as sole bookrunning manager of the offering, and FIG Partners, LLC is serving as a co-manager. The
Company intends to use the net proceeds from the offering for general corporate purposes, including potential future acquisitions
and to support continued organic growth, with an anticipated $10 million of the net proceeds to be contributed to the Bank.
The shares will be issued by means of a prospectus supplement and accompanying prospectus filed as part of an effective shelf
registration statement on Form S-3 (File No. 333-216983) filed with the U.S. Securities and Exchange Commission ("SEC").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction. The offering will be made only by means of a
prospectus. These documents are available at no charge by visiting the SEC's website at www.sec.gov. The offering will be made only by means of a prospectus, copies of which may
be obtained from D.A. Davidson & Co., Attn: Equity Capital Markets, 8 Third St. N., Great Falls, MT 59401, (406) 791-7319.
About the Company
Eagle Bancorp Montana, Inc. is a bank holding company headquartered in Helena, Montana and is the holding company of Opportunity
Bank, a community bank established in 1922 that serves consumers and small businesses in Montana through 14 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," "expect,"
"anticipate," "should," "planned," "estimated," and "potential." These forward-looking statements include, but are not limited to
statements of our goals, intentions and expectations; statements regarding our business plans, prospects, 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, either nationally or in our market areas, that are worse than expected; competition among depository and other
financial institutions; loan demand or residential and commercial real estate values in Montana; inflation and changes in the
interest rate environment that reduce our margins or reduce the fair value of financial instruments; adverse changes in the
securities markets; and other economic, governmental, competitive, regulatory and technological factors that may affect our
operations. 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.
Contacts:
Peter J. Johnson, President and CEO
(406) 457-4006
Laura F. Clark, SVP and CFO
(406) 457-4007
