NASDAQ: EBMT

Common Equity Offering

Investor Presentation

October 2017

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-216983

Dated October 10, 2017

Safe Harbor Statement

Forward-Looking

Statements

This presentation 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, regarding Eagle Bancorp Montana, Inc. (“Eagle”), including its wholly-owned subsidiary, Opportunity Bank of

Montana, TwinCo, Inc. (“TwinCo”), including its wholly-owned subsidiary, Ruby Valley Bank (“Ruby Valley”), and Eagle’s proposed acquisition of

TwinCo and Ruby Valley, 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; estimates of our risks and future costs and benefits; and the impact of acquisitions, including the proposed acquisition of TwinCo and Ruby

Valley. 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, the following:  the expected costs savings, synergies and other financial benefits from Eagle’s acquisition of TwinCo might not be

realized within the expected time frames or at all; our ability to effectively integrate TwinCo and Ruby Valley into our operations; governmental

approval of the TwinCo acquisition may not be obtained or adverse regulatory conditions may be imposed in connection with governmental approvals

of

the

TwinCo

acquisition,

conditions

to

closing

the

acquisition

may

not

be

satisfied

and

the

shareholders

of

TwinCo

may

fail

to

approve

the

consummation of the acquisition; 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.  Annualized, pro

forma, projected and estimated numbers in this presentation are used for illustrative purposes only, are not forecasts and may not reflect actual

results.

Eagle undertakes no obligation to revise or publicly release any revision or update to these forward-looking statement to reflect events or

circumstances that occur after the date on which such statements were made.

Additional

Information

About

the

Offering

Eagle has filed a shelf registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission ("SEC") which was

declared

effective

on

April

28,

2017.

Before

you

invest

in

the

offering

to

which

this

communication

relates,

you

should

read

the

prospectus

in

that

registration

statement

and

the

preliminary

prospectus

supplement

related

to

the

offering

and

the

other

documents

Eagle

has

filed

and

will

file

with

the

SEC

for

more

complete

information

about

Eagle

and

this

offering.

You

may

get

these

documents

for

free

by

visiting

the

SEC

web

site

at

www.sec.gov. Alternatively, Eagle, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus if you request it

by contacting D.A. Davidson & Co., 8 Third Street N. Great Falls, MT 59401, or by calling toll-free (800) 755-7848.

2

Safe Harbor Statement

Non-GAAP

Financial

Measures

Eagle reports its results in accordance with United States generally accepted accounting principles ("GAAP"). However, management believes that

certain

non-GAAP

performance

measures

used

in

managing

the

business

may

provide

meaningful

information

about

underling

trends

in

its

business.

Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, Eagle's reported results prepared in accordance with

GAAP. Please see Reconciliation of GAAP to Non-GAAP Financial Measures in the appendix to this presentation for a reconciliation to the nearest

GAAP financial measure.

Additional

Information

About

the

Merger

and

Where

to

Find

It

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor

shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification

under

the

securities

laws

of

such

jurisdiction.

In

connection

with

Eagle’s

proposed

acquisition

of

TwinCo,

Eagle

will

file

with

the

Securities

and

Exchange Commission (the “SEC”) a registration statement on Form S-4 containing a proxy statement of TwinCo and a prospectus of Eagle, and

Eagle

will

file

other

documents

with

the

SEC

with

respect

to

the

proposed

acquisition.

SHAREHOLDERS

OF

TWINCO

ARE

ENCOURAGED

TO

READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY

STATEMENT/PROSPECTUS THAT WILL BE PART OF THE REGISTRATION STATEMENT, CAREFULLY AND IN THEIR ENTIRETY WHEN

THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. The final proxy

statement/prospectus will be mailed to shareholders of TwinCo. Potential investors and security holders will be able to obtain the documents, and any

other documents Eagle has filed with the SEC, free of charge at the SEC's website, www.sec.gov. In addition, documents filed with the SEC by Eagle

will

be

available

free

of

charge

by

(1)

accessing

Eagle’s

website

at

www.opportunitybank.com

under

the

“Investor

Relations”

link

and

then

under

the

heading “SEC Filings”, (2) writing Eagle at 1400 Prospect Avenue, P.O. Box 4999, Helena, MT 59604, Attention: Investor Relations, or (3) writing

TwinCo at 107 South Main, P.O. Box 417, Twin Bridges, MT 59754, Attention: Ken Walsh.

Eagle,

TwinCo,

their

respective

directors

and

executive

officers

and

other

members

of

management

and

employees

may

be

considered

participants

in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Eagle is set forth in

its proxy statement for its 2017 annual meeting of shareholders, which was filed with the SEC on March 14, 2017 and its Current Reports on Form 8-

K. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or

otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

3

Issuer:

Eagle Bancorp Montana, Inc. (the “Company”)

Exchange

/ Ticker:

NASDAQ: EBMT

Security:

Common

Stock

Base Deal Value:

$18

million (100% primary)

Overallotment:

15%

Pre-Offering Market Cap:

$71.7

million (at 10/5/2017)

Use of Proceeds:

General

corporate

purposes,

including

potential

future

acquisitions

and

to

support

continued

organic

growth.

Company

intends

to

contribute $10 million of net proceeds to subsidiary, Opportunity

Bank of

Montana (“Opportunity Bank”)

Lock-Up

Agreement:

90 days

Book-Running Manager:

D.A.

Davidson

&

Co.

Co-Manager:

FIG Partners, LLC

Offering Overview

4

$710

million

total

asset

size

commercial

bank

headquartered

in

Helena,

MT

(1)

7

largest

bank

headquartered

in

Montana

and

3

largest

publicly

traded

bank

(2)

Only

sub

$10

billion

asset

size

NASDAQ

traded

bank

or

bank

holding

company

in

MT,

ID,

ND

or

WY

(3)

History

of

robust

growth

and

improved

diversification

over

the

past

several

years

Gross

loans

held

for

investment

have

grown

at

a

23.7%

compound

annual

growth

rate

over

the

last

5

years

Strategically

positioned

with

14

branch

locations

in

attractive

markets

in

Montana

Experienced

management

team

and

Board

of

Directors

with

proven

track

record

of

execution

on

strategic

initiatives

Strong

asset

quality

Pending

acquisition

provides

opportunity

for

further

diversification

and

scale

Favorable

valuation

metrics

relative

to

peer

groups

5

Investment Highlights

(1)

As of June 30, 2017

(2)

Based on FDIC deposit data as of June 30, 2017

(3)

Including pending acquisitions

Source: FDIC and Company filings

th

rd

Established in 1922 and headquartered in Helena, MT

14

branches

in

Montana

operating

under

the

Company’s

banking

subsidiary

–

Opportunity

Bank

Balance Sheet (6/30/17):

Assets $710.2 million

Gross loans $508.1 million

(1)

Deposits $514.3 million

Shareholders’

equity $62.1 million

Asset Quality (6/30/17):

NPAs/assets  –

0.31%

(2)

Profitability (Q2’17):

Net income of $1.1 million

Net interest margin –

3.65%

ROAA –

0.61%

ROAE –

6.97%

Current Dividend:

$0.09 quarterly

1.91% current dividend yield

(3)

Montana

Missoula

Hamilton

Billings

Townsend

Butte

Bozeman

Livingston

Big Timber

Opportunity Bank Branches

6

Helena

Great Falls

Overview of Eagle Bancorp Montana, Inc.

Source: Company filings and SNL Financial

(1)

Gross loans including loans held for investment

(2)

Includes nonperforming assets and loans 90 days or more delinquent but still accruing interest

(3)

Based on $18.80 closing price for EBMT shares on 10/5/2017

Experienced Management

Peter J. Johnson

President

Chief

Executive Officer

•

Has served as President and Chief Executive Officer since December 2009

•

36 years with the Bank

•

38 years of banking experience

Laura F. Clark

Senior

Vice President

Chief

Financial Officer

•

Has served as EVP and Chief Financial Officer since March 2014

•

3 years with the Bank

•

42 years of banking experience

Rachel R. Amdahl

Senior Vice President

Chief Operations Officer

•

Has served as SVP and Chief Operations Officer since February 2006

•

30 years with the Bank

•

30 years of banking experience

Tracy A. Zepeda

Senior

Vice President

Chief

Retail Officer

•

Has served as SVP and Chief Retail Officer since December 2012

•

4 years with the Bank

•

17 years of banking experience

Dale Field

Senior Vice President

Chief Credit Officer

•

Has served as SVP and Chief Credit Officer since July 2014

•

16 years with the Bank

•

20 years of banking experience

Chantelle Nash

Senior

Vice President

Chief Risk Officer

•

Has served as SVP and Chief Risk Officer since July 2014

•

10 years with the Bank

•

10 years of banking experience

Mark

O’Neill

Senior Vice President

Chief Lending Officer

•

Has served as SVP and Chief Lending Officer since October 2017

•

1 year with the Bank

•

21 years of banking experience

7

8

Experienced Board

Director

Experience

Year

Elected

Larry A. Dreyer

Retired President and CEO of Opportunity Bank

1990

James A. Maierle

Retired President of a civil engineering corporation

1997

Peter J. Johnson

President and CEO of Opportunity Bank and the Company

2007

Lynn E. Dickey

Retired Partner of a major Montana certified pubic accounting firm

2005

Rick F. Hays

Retired President of a

Montana telecommunications  company

2007

Thomas J. McCarvel

Retired Vice President of Carroll College

1998

Maureen J. Rude

Executive Director of Montana Homeownership Network/NeighborWorks Montana

2010

Shavon R. Cape

Co-founder of JWT Capital, LLC, a real estate development and operating company

2015

Tanya J. Chemodurow

President of Abatement Contractors of Montana, LLC, specializing in environmental remediation

2015

9

Embed ourselves as the bank of choice within target communities

Continue to operate as a community-oriented financial institution

Expand franchise through selective acquisitions and branch additions

Continue execution on commercial bank model

Diversify loan portfolio into commercial and industrial (“C&I”) and commercial real

estate (“CRE”)

Attract and retain lower-cost core deposits

Expand mortgage lending platform

Offer full suite of products and services to meet customers’ banking needs

Maintain and improve strong asset quality standards

Approach to Business

Deposit

Market

Share

-

Montana

The 7

largest banking institution headquartered in Montana in terms of deposits

Pro-forma for the pending TwinCo, Inc. acquisition the Company will be the

5

largest banking institution headquartered in Montana

Diverse footprint with presence in the key Montana markets

10

Deposit Market Share -

Montana

Source: FDIC and SNL Financial; current deposit data as of 6/30/2017

Note: All deposits in thousands

2017

Rank

2016

Rank

Institution (State)

Number of

Branches

Deposits in

Market

Deposit

Growth

(1-Year)

Market

Share

1

1

First Interstate BancSystem (MT)

49

4,082,308

$   

+2.1%

17.75%

2

2

Glacier Bancorp Inc. (MT)

54

3,784,614

$   

+4.6%

16.45%

3

3

Wells Fargo & Co. (CA)

41

2,927,070

$   

+2.3%

12.73%

4

4

Stockman Financial Corp. (MT)

37

2,424,415

$   

+3.8%

10.54%

5

5

U.S. Bancorp (MN)

25

2,328,998

$   

+0.4%

10.13%

6

6

Inter-Mountain Bancorp. Inc. (MT)

11

855,296

$      

-0.1%

3.72%

7

9

Montana Security Inc. (MT)

7

544,546

$      

+8.7%

2.37%

8

7

Yellowstone Holding Co. (MT)

9

523,667

$      

+1.8%

2.28%

9

8

Eagle Bancorp Montana, Inc. (MT)

14

514,612

$      

+1.1%

2.24%

10

10

Heartland Financial USA Inc. (IA)

10

416,436

$      

+2.6%

1.81%

Total For Institutions In Market

383

$ 23,000,591

+3.1%

th

th

Market Demographic Data by County

11

Source: FIDC, BLS, SNL Financial and Nielsen as of 10/3/2017

(1) In July 2017, the Company converted its loan production office in Great Falls, Montana to a branch office

Robust population and income growth statistics in the market areas Eagle has a presence

Double-digit income growth projections in four counties

Unemployment rate in all counties is below the national average

County

Number of

Branches

EBMT

Deposits in

Market ($000)

Market

Rank

Total

Population

2018

Population

Change

2010-2018

Projected Population

Change

2018-2023

Projected HH

Income Change

2018-2023

Unemployment Rate

(August 2017)

Lewis and Clark

3

$172,244

4

68,262

7.7%

4.8%

4.5%

3.0%

Gallatin

2

$104,553

9

109,153

21.9%

9.2%

13.1%

2.0%

Silver Bow

1

$67,861

4

34,560

1.1%

1.8%

-0.3%

3.5%

Missoula

2

$40,183

9

118,355

8.3%

5.5%

2.9%

3.1%

Park

1

$32,125

5

16,297

4.2%

3.9%

8.9%

2.7%

Sweet Grass

1

$28,542

3

3,616

-1.0%

1.1%

7.4%

2.7%

Yellowstone

1

$25,314

10

160,797

8.7%

5.0%

11.3%

3.2%

Ravalli

1

$22,965

6

42,796

6.4%

4.9%

3.9%

3.8%

Broadwater

1

$20,825

2

5,792

3.2%

3.3%

10.8%

3.7%

Cascade

(1)

1

$0

10

81,564

0.3%

1.3%

11.3%

3.3%

Montana

-

-

-

-

6.8%

4.4%

8.5%

3.9%

National

-

-

-

-

5.8%

3.5%

8.9%

4.4%

EBMT Market Presence

Population Statistics

Income and Unemployment Statistics

Deposit

Market

Share

–

Yellowstone

County

Source: FDIC, SNL Financial and Nielsen

Note: Deposit data as of 6/30/2016; all deposits in thousands

(1)

Nielsen

(2)

August, 2017 BLS data

12

Deposit

Market

Share

–

Missoula

County

Yellowstone County is the largest county in

Montana by population

(1)

Missoula County is the 2

largest county in

Montana by population

(1)

Billings, the county seat, is the largest city in

Montana

with

over

110

thousand

residents

(1)

Low

unemployment

rate

of

3.20%

(2)

Significant investment and activity by energy

industry

Regional hub for healthcare and trade

Home to the University of Montana (12,000+

students)

Regional hub for a wide range of retail,

professional and service activities

Key Montana Markets

nd

2017

Rank

2016

Rank

Institution (State)

Number of

Branches

Deposits in

Market

Market

Share

1

1

First Interstate BancSystem (MT)

4

694,162

$     

29.54%

2

2

Glacier Bancorp Inc. (MT)

7

621,157

$     

26.43%

3

3

Wells Fargo & Co. (CA)

3

352,554

$     

15.00%

4

4

U.S. Bancorp (MN)

3

250,965

$     

10.68%

5

5

Bitterroot Holding Co. (MT)

6

159,522

$     

6.79%

6

6

Bancorp of Montana Holding Co. (MT)

1

76,018

$       

3.23%

7

9

Stockman Financial Corp. (MT)

2

50,996

$       

2.17%

8

7

Forstrom Bancorp. Inc. (MN)

1

43,479

$       

1.85%

9

8

Eagle Bancorp Montana, Inc. (MT)

2

40,183

$       

1.71%

10

10

Farmers State Financial Corp. (MT)

2

32,162

$       

1.37%

Total For Institutions In Market

34

$  

2,349,893

2017

Rank

2016

Rank

Institution (State)

Number of

Branches

Deposits in

Market

Market

Share

1

1

First Interstate BancSystem (MT)

9

1,161,516

$  

25.25%

2

2

U.S. Bancorp (MN)

5

1,050,098

$  

22.83%

3

3

Wells Fargo & Co. (CA)

5

724,655

$     

15.75%

4

4

Glacier Bancorp Inc. (MT)

7

591,005

$     

12.85%

5

5

Stockman Financial Corp. (MT)

6

554,239

$     

12.05%

6

6

Yellowstone Holding Co. (MT)

5

330,360

$     

7.18%

7

7

Heartland Financial USA Inc. (IA)

3

95,673

$       

2.08%

8

8

Beartooth Financial Corp. (MT)

1

34,118

$       

0.74%

9

10

Antler Land Co. (MT)

1

32,717

$       

0.71%

10

9

Eagle Bancorp Montana, Inc. (MT)

1

25,314

$       

0.55%

Total For Institutions In Market

44

$  

4,599,695

13

Deposit

Market

Share

–

Gallatin

County

Bozeman, the county seat, is the fastest

growing

community

in

Montana

(1)

Healthcare

industry

rapidly

expanding

(2)

High-tech

center

of

Montana

(3)

Home to Montana State University (16,000+

students)

Deposit

Market

Share

–

Lewis

and

Clark

County

Economic stability is largely due to state

government, regional healthcare, education,

and small business

60% of the Lewis and Clark County workforce

is connected to state and government

positions

(4)

Unemployment rate at 3.00% for Lewis &

Clark

County

(5)

Key Montana Markets

Source: FDIC, SNL Financial and Nielsen

Note: Deposit data as of 6/30/2017; all deposits in thousands

(1)

U.S. Census Bureau

(2)

Bozeman Daily Chronicle

(3)

Fast Company

(4)

Helena Chamber of Commerce

(5)

August, 2017 BLS data

2017

Rank

2016

Rank

Institution (State)

Number of

Branches

Deposits in

Market

Market

Share

1

2

Glacier Bancorp Inc. (MT)

7

379,598

$     

27.71%

2

3

First Interstate BancSystem (MT)

5

296,781

$     

21.67%

3

1

Wells Fargo & Co. (CA)

4

252,422

$     

18.43%

4

4

Eagle Bancorp Montana, Inc. (MT)

3

172,244

$     

12.57%

5

5

U.S. Bancorp (MN)

1

125,173

$     

9.14%

6

6

Stockman Financial Corp. (MT)

2

64,958

$       

4.74%

7

7

Ascent Bancorp (MT)

1

39,459

$       

2.88%

8

9

Countricorp (MT)

1

15,573

$       

1.14%

9

8

Forstrom Bancorp. Inc. (MN)

1

14,373

$       

1.05%

10

10

First Community Bancorp Inc. (MT)

1

9,252

$        

0.68%

Total For Institutions In Market

26

$

1,369,833

2017

Rank

2016

Rank

Institution (State)

Number of

Branches

Deposits in

Market

Market

Share

1

1

Inter-Mountain Bancorp. Inc. (MT)

7

618,307

$     

22.10%

2

2

First Interstate BancSystem (MT)

6

393,295

$     

14.06%

3

3

Glacier Bancorp Inc. (MT)

5

358,501

$     

12.81%

4

4

Wells Fargo & Co. (CA)

2

306,125

$     

10.94%

5

5

U.S. Bancorp (MN)

2

259,819

$     

9.29%

6

6

Stockman Financial Corp. (MT)

4

242,527

$     

8.67%

7

7

Guaranty Dev. Co. (MT)

3

202,004

$     

7.22%

8

8

MSB Financial Inc. (MT)

4

152,008

$     

5.43%

9

9

Eagle Bancorp Montana, Inc. (MT)

2

104,553

$     

3.74%

10

10

Bozeman Bancorp Inc. (MT)

1

62,323

$       

2.23%

Total For Institutions In Market

41

$  

2,797,959

14

In September 2017, announced proposed acquisition of TwinCo, Inc. and its

wholly-owned subsidiary, Ruby Valley Bank (“Ruby Valley”)

In May 2017, received approval by the state  to convert our LPO in Great

Falls to a full service branch

In February 2017, sold $10 million in senior unsecured notes in a private

placement offering

Mortgage origination team is in the top

4 of market share in Helena, Bozeman,

Butte and Missoula

Company Developments

TwinCo, Inc. Acquisition

EBMT Branch

TwinCo Branch

Pro-forma Branch Map

Establishes Opportunity Bank as the fifth largest bank

headquartered in Montana with over $800 million in

pro-forma assets and 16 branch locations in key

Montana markets

Acquisition provides the Company with a significant

expansion of its agricultural lending capability and

skills to be leveraged throughout Montana

Ruby Valley has an attractive core deposit base with a

0.19% cost of funds, 26% non interest bearing

deposits and 76% non time deposits

Ruby Valley’s current President and CEO , Ken

Walsh, will join the Company’s Board and lead

Opportunity Bank’s effort in Madison County

Strategic Rationale

On September 5, 2017, the Company entered into an

agreement to acquire TwinCo, Inc., the holding

company for Ruby Valley, headquartered in Twin

Bridges, MT

Ruby Valley Bank has been serving the local

community for over 100 years

TwinCo common stock will be exchanged for 11.1540

shares of Eagle and $247.16 per share in cash (45%

stock / 55% cash mix)

Transaction Overview

Pro-Forma Financial Summary

Aggregate Deal Value:

(1)

$17.8 million

Deal Value / TBV:

(1)(2)

125.9%

Deal Value / LTM Earnings:

(1)(3)

14.4x

Pro-Forma

Assets:

$806 million

Pro-Forma

Gross Loans:

$563 million

Pro-Forma Deposits:

$592 million

15

(1)

Pro-forma metrics based on the Company’s closing stock price prior to announcement of $17.60

(2)

See appendix for non-GAAP financial reconciliation

(3)

LTM net income tax adjusted at 35% to reflect TwinCo’s S-Corporation status

Financial Performance

Net income grew 39.7% to $1.1 million, or $0.27 per diluted share in the second

quarter, compared to $763,000, or $0.20 per diluted share in the preceding quarter,

and was down compared to $1.3 million, or $0.32 per diluted share, in the second

quarter of 2016.

Net interest margin was 3.65%, which was up four basis points compared to the

preceding quarter and a 34 basis point improvement compared to the second quarter

a year ago.

Revenues (net interest income before the provision for loan losses, plus non-interest

income) increased 8.0% to $9.5 million compared to $8.7 million in the same period a

year ago. 

Total gross loans held for investment increased 14.5% to $508.1 million at June 30,

2017, compared to $443.9 million a year earlier. 

Commercial real estate loans increased 22.5% to $246.0 million, or 48.4% of total

loans, at June 30, 2017, compared to $200.8 million, or 45.2% of total loans, a year

earlier.

Capital ratios remain strong with a tangible common shareholders’ equity ratio of

7.79% at June 30, 2017.

(1)

Announced increase of quarterly cash dividend by 12.5% to $0.09 per share.

17

EBMT: Second Quarter 2017 Highlights

Source: Company press release and filings

(1)

See appendix for non-GAAP financial reconciliation

18

Increased Loan Production and Margin

Net Interest Income and Net Interest Margin

Gross Loans (Held for Investment)

Source: Company data as of 6/30/2017

Note: All dollars in thousands

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

$5,500

$6,000

$6,500

3.00%

3.10%

3.20%

3.30%

3.40%

3.50%

3.60%

3.70%

3.80%

3.90%

4.00%

Net Interest Income

Net Interest Margin

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

Gross Loans (Held for Investment)

19

Loan

Portfolio

Composition

–

6/30/2017

Total gross loans increased 12.8%

from 6/30/16 to 6/30/17

Since 2008, number of commercial

bankers has increased from 4 to 16

Total C&I loans have increased 82%

since 2013

Current yield on loans of 4.82%

increased from 4.63% at 12/31/16

Total real estate exposure is 84%; but

only 15% is construction and land

development (“C&D”)

Owner-occupied CRE loans

represent 19% of total loans

Loan Portfolio Detail –

Opportunity Bank

Source: Bank call report data as of 6/30/2017

(1)

Total loans and leases including loans held for investment and held for sale

(2)

Year-to-date as of 6/30/2017

Total

Gross

Loans

(1)

:

$524.3

million

Yield on Loans: 4.82%

(2)

20

CRE and C&D Loan Detail

C&D Concentration by Type (% of total)

CRE Concentration by Location (% of total)

Source: Company data as of 6/30/2017

Billings

11%

Bozeman

33%

Butte

12%

Great Falls

5%

Missoula

7%

Helena

31%

Other

1%

Res. Const

(1-4 Fam)

8%

Res. Const

(Owner Occ.)        

20%

Res. Land

Dev/ Sub Div

10%

Other

1%

Comm Const

(Building)                    

33%

Land Dev.

(Non 1-4)             

10%

Land/Lot

(Non-Farm)                         

18%

Deposit mix and cost continues to improve as the Company continues to implement its

commercial strategy

Cost of deposits has declined from 35 basis points in 2014 to 29 basis points at 2Q’17

Non-Interest Bearing accounts represent approximately 18% of total deposits at 2Q’17

MMDA & Checking accounts represent over 53% of total deposits at 2Q’17

Deposit Composition

21

Deposit Composition –

6/30/2017

Total Deposits and Cost of Deposits

Source: Company data as of 6/30/2017

Note: All dollars in millions

Non-Interest

Bearing

Checking

17.9%

Interest-

Bearing

Checking

18.5%

MMDA

17.3%

Savings

17.3%

CDs < $100k

14.4%

CDs > $100k

14.7%

22

Non-Performing

Assets

/

Total

Assets

(1)

Disciplined Credit Culture

Source: SNL Financial; holding company data as of 6/30/2017 where available

Note: Regional peer group includes NASDAQ/NYSE traded banks headquartered in CO, ID, MT, OR, UT, WA and WY with total assets under $5 billion; excludes pending merger targets 

Note: U.S. peer group  includes NASDAQ/NYSE traded banks headquartered nationwide with total assets between $700 million and $1 billion; excludes pending merger targets

(1)

Includes nonperforming assets and loans 90 days or more delinquent but still accruing interest

0.29%

0.50%

0.29%

0.31%

1.37%

1.47%

0.92%

1.08%

1.91%

1.49%

1.13%

1.11%

0.00%

0.25%

0.50%

0.75%

1.00%

1.25%

1.50%

1.75%

2.00%

2.25%

12/31/14

12/31/15

12/31/16

6/30/17

EBMT

Regional Peers

U.S. Peers

23

Diluted Earnings Per Share and Dividends Per Share

Strong Track Record of Generating Shareholder Value

Tangible

Book

Value

Per

Share

(1)

Source: Company data as of 6/30/2017

(1)

See appendix for non-GAAP financial reconciliation

24

Price / TBV

(2)

Dividend Yield

Price / LTM EPS

Price / 2017E EPS

(1)

Favorable Valuation Metrics Relative to Peer Groups

Source: SNL Financial; holding company data as of 6/30/2017; market data as of 10/5/2017

Note:

Regional

peer

group

includes

NASDAQ/NYSE

traded

banks

headquartered

in

CO,

ID,

MT,

OR,

UT,

WA

or

WY

with

total

assets

under

$5

billion;

excludes

pending

merger

targets

Note: U.S. peer group  includes NASDAQ/NYSE traded banks headquartered nationwide with total assets between $700 million and $1 billion; excludes pending merger targets

(1)

Based on S&P CapitalIQ mean EPS estimate for 2017

(2)

See appendix for non-GAAP financial reconciliation

$710

million

total

asset

size

commercial

bank

headquartered

in

Helena,

MT

(1)

7

largest

bank

headquartered

in

Montana

and

3

largest

publicly

traded

bank

(2)

Only

sub

$10

billion

asset

size

NASDAQ

traded

bank

or

bank

holding

company

in

MT,

ID,

ND

or

WY

(3)

History

of

robust

growth

and

improved

diversification

over

the

past

several

years

Gross

loans

held

for

investment

have

grown

at

a

23.7%

compound

annual

growth

rate

over

the

last

5

years

Strategically

positioned

with

14

branch

locations

in

attractive

markets

in

Montana

Experienced

management

team

and

Board

of

Directors

with

proven

track

record

of

execution

on

strategic

initiatives

Strong

asset

quality

Pending

acquisition

provides

opportunity

for

further

diversification

and

scale

Favorable

valuation

metrics

relative

to

peer

groups

25

Investment Highlights

(1)

As of June 30, 2017

(2)

Based on FDIC deposit data as of June 30, 2017

(3)

Including pending acquisitions

Source: FDIC and Company filings

th

rd

Appendix

Reconciliation of GAAP to Non-GAAP Financial Measures

Eagle Bancorp Montana, Inc.

(Dollars in Thousands, except per share data)

6/30/2015

9/30/2015

12/31/2015

3/31/2016

6/30/2016

9/30/2016

12/31/2016

3/31/2017

6/30/2017

Shareholders' Equity (GAAP)

53,707

$   

54,424

$   

55,450

$   

56,519

$   

59,004

$   

60,035

$   

59,456

$   

60,035

$   

62,122

$   

Goodwill and Core Deposit Intangibles, net (GAAP)

(7,622)

(7,584)

(7,548)

(7,515)

(7,483)

(7,450)

(7,418)

(7,390)

(7,362)

Tangible Common Shareholders' Equity (non-GAAP)

46,085

$   

46,840

$   

47,902

$   

49,004

$   

51,521

$   

52,585

$   

52,038

$   

52,645

$   

54,760

$   

Common Shares Outstanding at end of Period

3,822,981

3,776,916

3,779,464

3,779,464

3,779,464

3,779,464

3,811,409

3,811,409

3,811,409

Book Value per Share (GAAP)

14.05

$     

14.41

$     

14.67

$     

14.95

$     

15.61

$     

15.88

$     

15.60

$     

15.75

$     

16.30

$     

Tangible Book Value per Share (non-GAAP)

12.05

$     

12.40

$     

12.67

$     

12.97

$     

13.63

$     

13.91

$     

13.65

$     

13.81

$     

14.37

$     

Total Assets (GAAP)

583,367

$ 

611,409

$ 

630,347

$ 

643,004

$ 

663,336

$ 

674,495

$ 

673,925

$ 

683,677

$ 

710,214

$ 

Goodwill and Core Deposit Intangibles, net (GAAP)

(7,622)

(7,584)

(7,548)

(7,515)

(7,483)

(7,450)

(7,418)

(7,390)

(7,362)

Total Tangible Assets (non-GAAP)

575,745

$ 

603,825

$ 

622,799

$ 

635,489

$ 

655,853

$ 

667,045

$ 

666,507

$ 

676,287

$ 

702,852

$ 

Tangible Common Equity / Tangible Assets (%)

8.00%

7.76%

7.69%

7.71%

7.86%

7.88%

7.81%

7.78%

7.79%

TwinCo, Inc.

(Dollars in Thousands, except per share data)

6/30/2017

Shareholders' Equity (GAAP)

14,564

$   

Goodwill (GAAP)

(422)

Tangible Common Shareholders' Equity (non-GAAP)

14,142

$   

Source: Company filings and unaudited financials for TwinCo