Net interest income rebounded to $20.0M in 2026Q3 from $15.4M in 2024Q2, but the net interest margin of 0.9% and an efficiency ratio of 77.3% suggest limited operating leverage and thin profitability.
Eagle Bancorp Montana, Inc. (EBMT) annual income statement — 17-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 |
|---|
| Net Interest Income | 24.16M | 72.18M | 62.35M | 61.75M | 63.01M | 46.28M | 42.8M | 38.38M | 29.42M | 23.6M | 20.65M | 17.94M | 15.24M | 15.24M | 12.55M | 10.93M | 10.87M | 9.8M |
| NII Growth % | -251.25% | 15.75% | 0.98% | -2% | 36.13% | 8.14% | 11.53% | 30.45% | 24.68% | 14.26% | 15.09% | 17.77% | 0% | 21.39% | 14.82% | 0.53% | 10.93% | - |
| Net Interest Margin % | 1.06% | 3.43% | 2.96% | 2.97% | 3.23% | 3.22% | 3.4% | 3.64% | 3.45% | 3.29% | 3.06% | 2.85% | 2.83% | 2.95% | 2.47% | 3.29% | 3.28% | 3.01% |
| Interest Income | 55.36M | 107.69M | 103.13M | 90.89M | 69.16M | 49.49M | 49.28M | 46.1M | 34.52M | 27.69M | 23.77M | 20.4M | 17.28M | 17.28M | 14.8M | 14.1M | 14.91M | 14.91M |
| Interest Expense | 31.2M | 35.51M | 40.77M | 29.14M | 6.15M | 3.21M | 6.48M | 7.73M | 5.1M | 4.09M | 3.12M | 2.46M | 2.04M | 2.04M | 2.25M | 3.17M | 4.09M | 5.11M |
| Loan Loss Provision | 2.46M | 1.14M | 518K | 1.46M | 2M | 861K | -6.48M | 2.63M | 980K | 1.23M | 1.83M | 1.3M | -2.04M | 608K | 678K | 1.1M | -4.09M | 0 |
| Non-Interest Income | 44.78M | 18.29M | 17.29M | 21.56M | 24.49M | 43.7M | 41.07M | 22.96M | 11.8M | 13.88M | 16.13M | 11.83M | 8M | 10.04M | 10.31M | 4.17M | 589K | 3.59M |
| Non-Interest Income % | 64.96% | 20.21% | 21.71% | 25.88% | 27.99% | 48.56% | 48.97% | 37.43% | 28.63% | 37.04% | 43.86% | 39.73% | 34.43% | 39.72% | 45.11% | 27.63% | 5.14% | 26.82% |
| Total Net Revenue | 68.94M | 90.46M | 79.65M | 83.31M | 87.5M | 89.99M | 83.87M | 61.34M | 41.22M | 37.48M | 36.78M | 29.77M | 23.23M | 25.28M | 22.86M | 15.11M | 11.46M | 13.39M |
| Revenue Growth % | -20.9% | 13.58% | -4.4% | -4.78% | -2.77% | 7.29% | 36.74% | 48.79% | 10% | 1.88% | 23.55% | 28.13% | -8.08% | 10.55% | 51.37% | 31.78% | -14.43% | - |
| Non-Interest Expense | 56.52M | 70.39M | 67.74M | 70.2M | 71.65M | 69.84M | 90.35M | 44.74M | 34.35M | 30.02M | 28.02M | 25.73M | 15.95M | 22.91M | 20.86M | 11.03M | 15.5M | 13.39M |
| Efficiency Ratio | 81.98% | 77.81% | 85.05% | 84.26% | 81.89% | 77.62% | 107.73% | 72.94% | 83.32% | 80.1% | 76.17% | 86.41% | 68.66% | 90.63% | 91.25% | 73.05% | 135.19% | 100% |
| Operating Income | 9.96M | 18.93M | 11.39M | 11.65M | 13.85M | 19.28M | 0 | 13.97M | 5.9M | 6.23M | 6.93M | 2.74M | 3.81M | 1.76M | 1.32M | 2.97M | 0 | 0 |
| Operating Margin % | 14.45% | 20.93% | 14.3% | 13.99% | 15.83% | 21.43% | 0% | 22.77% | 14.3% | 16.63% | 18.84% | 9.21% | 16.38% | 6.97% | 5.79% | 19.66% | 0% | 0% |
| Operating Income Growth % | - | 66.22% | -2.27% | -15.84% | -28.18% | - | -100% | 136.91% | -5.38% | -10.1% | 152.68% | -27.93% | 116.13% | 33.11% | -55.45% | - | - | - |
| Pretax Income | 19.84M | 18.89M | 11.39M | 11.65M | 13.85M | 19.28M | 28.44M | 13.97M | 5.9M | 6.23M | 6.93M | 2.74M | 1.18M | 1.76M | 1.32M | 2.97M | 3.45M | 3.45M |
| Pretax Margin % | 28.78% | 20.89% | 14.3% | 13.99% | 15.83% | 21.43% | 33.91% | 22.77% | 14.3% | 16.63% | 18.84% | 9.21% | 5.07% | 6.97% | 5.79% | 19.66% | 30.09% | 25.75% |
| Income Tax | 4.4M | 4.06M | 1.61M | 1.6M | 3.15M | 4.86M | 7.23M | 3.1M | 914K | 2.13M | 1.8M | 163K | -350K | -350K | -650K | 792K | 1.06M | 1.03M |
| Effective Tax Rate % | 22.16% | 21.48% | 14.15% | 13.71% | 22.73% | 25.22% | 25.44% | 22.16% | 15.5% | 34.15% | 25.96% | 5.94% | -29.74% | -19.88% | -49.13% | 26.67% | 30.62% | 30.01% |
| Net Income | 15.44M | 14.84M | 9.78M | 10.06M | 10.7M | 14.42M | 21.21M | 10.87M | 4.98M | 4.1M | 5.13M | 2.58M | 2.11M | 2.11M | 1.97M | 2.18M | 2.41M | 2.41M |
| Net Margin % | 22.4% | 16.4% | 12.28% | 12.07% | 12.23% | 16.02% | 25.28% | 17.73% | 12.09% | 10.95% | 13.95% | 8.67% | 9.09% | 8.35% | 8.63% | 14.42% | 21.06% | 18.02% |
| Net Income Growth % | 14.06% | 51.72% | -2.76% | -6.03% | -25.79% | -32.01% | 95.05% | 118.23% | 21.42% | -20.05% | 98.91% | 22.22% | 0% | 6.99% | -9.41% | -9.78% | 0% | - |
| Net Income (Continuing) | 15.44M | 14.84M | 9.78M | 10.06M | 10.7M | 14.42M | 21.21M | 10.87M | 4.98M | 4.1M | 5.13M | 2.58M | 1.64M | 2.11M | 1.97M | 2.18M | 2.41M | 2.41M |
| EPS (Diluted) | 1.96 | 1.90 | 1.24 | 1.29 | 1.45 | 2.17 | 3.11 | 1.69 | 0.91 | 0.99 | 1.32 | 0.67 | 0.53 | 0.53 | 0.50 | 0.56 | 0.62 | 0.54 |
| EPS Growth % | 13.95% | 53.23% | -3.88% | -11.03% | -33.18% | -30.23% | 84.02% | 85.71% | -8.08% | -25% | 97.01% | 26.42% | 0% | 6% | -10.71% | -9.68% | 14.81% | - |
| EPS (Basic) | - | 1.90 | 1.24 | 1.29 | 1.45 | 2.17 | 3.12 | 1.69 | 0.92 | 1.01 | 1.36 | 0.68 | 0.54 | 0.54 | 0.53 | 0.59 | 0.62 | 0.60 |
| Diluted Shares Outstanding | 7.87M | 7.82M | 7.85M | 7.8M | 7.39M | 6.66M | 6.82M | 6.44M | 5.49M | 4.13M | 3.87M | 3.86M | 3.97M | 3.94M | 3.9M | 3.9M | 3.9M | 4.47M |
Quick answers to the most common questions about buying EBMT stock.
For fiscal year 2025, Eagle Bancorp Montana, Inc. (EBMT) reported total revenue of $90.5M. This represents a 575.3% increase compared to $13.4M in 2009.
Eagle Bancorp Montana, Inc. (EBMT) is profitable, generating $14.8M in net income for the fiscal year ending 2025 with a net profit margin of 16.4%.
Eagle Bancorp Montana, Inc. (EBMT) reported an operating income of $18.9M, resulting in an operating profit margin of 20.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Eagle Bancorp Montana, Inc. (EBMT) generated $89.3M in gross profit for the year, representing a gross profit margin of 98.7%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Compressed net interest margin and rising efficiency ratio
Metrics are mathematically derived from official filings.
Net Interest Income Recovering Off Mid-2024 Trough
Based on EBMT's reported figures, net interest income rose from $15.4M in 2024Q2 to $20.0M in 2026Q3, though growth decelerated to 8.3% year-over-year in the latest quarter.
The recovery in NII appears driven by loan growth and a stabilizing funding base rather than a sustained margin expansion, since the reported NIM sits near 0.9% across recent quarters. The 2026Q2 print, which shows negative NII with a large non-interest income offset, looks like a data or classification anomaly that warrants further investigation before it is used to judge trend quality. Investors should monitor whether deposit repricing keeps pace with asset yields in coming quarters.
Thin Margin Leaves Little Rate Cushion
As reported in financial statements, EBMT's net interest margin has hovered between 0.7% and 0.9% over the ten quarters shown, well below what peers such as WAFD and GBCI typically sustain.
A margin in the sub-1% range suggests the bank earns a narrow spread on its earning assets, leaving limited room to absorb funding cost pressure or a flattening yield curve. The reported NIM improved from 0.7% in 2024 to 0.9% in 2025 and 2026, which may reflect improved asset mix or repricing, but the magnitude is modest. The data does not provide sufficient detail on deposit betas to confirm the drivers of this change.
Efficiency Ratio Deteriorating Despite Revenue Gains
Based on EBMT's reported figures, the efficiency ratio climbed from roughly 77% in early 2026 to 77.3% in 2026Q3, remaining well above the high-60s range commonly associated with efficient regional banks.
An efficiency ratio in the high 70s indicates that a large share of revenue is consumed by non-interest expense, limiting the earnings available to build capital or absorb credit losses. The ratio peaked at 86.7% in 2024Q2 and has improved since, which suggests operating leverage is gradually returning. Operating income remains modest at $3.8M in the latest quarter, so further efficiency gains would be needed to meaningfully lift returns.
Provisioning Remains Light but Volatile
As reported in financial statements, EBMT's provision expense ranged from zero to $1.0M across recent quarters, with 2026Q2 at $325K and 2026Q1 at $279K, a pattern that appears to reflect episodic rather than steady credit reserving.
Low and uneven provisioning may indicate benign credit conditions, but it can also reflect reserve timing decisions that the reported figures do not fully explain. The absence of detailed charge-off or reserve coverage data limits any firm conclusion about asset quality. Investors should monitor provisioning against loan growth to judge whether reserves are keeping pace with the book.
Earnings Quality Depends on Fee Stability
Based on EBMT's reported figures, non-interest income contributes roughly 19% to 24% of total revenue, and any softening in this fee base would weigh heavily on earnings given the thin net interest margin.
Because net interest income alone is modest relative to the bank's expense base, fee income plays a material role in supporting pre-provision earnings. The 2026Q2 quarter, where the fee share spikes and the EPS remains positive, appears to be distorted by classification effects that make the reported trend harder to interpret. A sustained decline in fees, or rate cuts that compress NII further, could push profitability toward the weaker end of the range shown.