Eagle Bancorp Montana Announces Closing of Common Stock Offering and Full Exercise of Overallotment Option to Purchase Additi...
October 13 2017 - 4:00PM
Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) (the “Company,” “Eagle”),
the holding company of Opportunity Bank of Montana (the “Bank”),
announced today the closing of its underwritten public offering of
1,189,041 shares of the Company’s common stock, at a price to the
public of $18.25 per share for gross proceeds of approximately
$21.7 million. The offering included the exercise in full by the
underwriters of their option to purchase an additional 139,041
shares. The net proceeds to the Company, after deducting
underwriting discounts and commissions and estimated offering
expenses, were approximately $20.1 million.
D.A. Davidson & Co. served as sole bookrunning manager of
the offering, and FIG Partners, LLC served 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 were 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"). These
documents are available at no charge by visiting the SEC's website
at www.sec.gov.
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 was 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) 457-4006Laura
F. Clark, SVP and CFO(406) 457-4007
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