Note 20 - Condensed Parent Company Financial Statements

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 2 0 : Condensed Parent Company Financial Statements

Included below are the condensed financial statements of the Parent Company, Eagle Bancorp Montana, Inc.:

	December 31,
	2019		2018
	(In Thousands)
Assets:
Cash and cash equivalents	$	8,916	$	1,216
Securities available-for-sale		5,152		10,783
Investment in Eagle Bancorp Statutory Trust I		155		155
Investment in Opportunity Bank of Montana		130,165		105,963
Other assets		2,473		1,813
Total assets	$	146,861	$	119,930
Liabilities and Shareholders's Equity:
Accounts payable and accrued expenses	$	261	$	248
Other long-term debt		24,941		24,876
Shareholders' equity		121,659		94,806
Total liabilities and shareholders' equity	$	146,861	$	119,930

	Years Ended
	December 31,
	2019			2018
	(In Thousands)
Interest income	$	273		$	292
Interest expense		(1,452	)		(1,432	)
Noninterest income		(6	)		(20	)
Noninterest expense		(2,582	)		(1,712	)
Loss before income taxes		(3,767	)		(2,872	)
Income tax benefit		(1,065	)		(557	)
Loss before equity in undistributed earnings of Opportunity Bank of Montana		(2,702	)		(2,315	)
Equity in undistributed earnings of Opportunity Bank of Montana		13,574			7,297
Net income	$	10,872		$	4,982

	Years Ended
	December 31,
	2019			2018
	(In Thousands)
Cash Flows from Operating Activities:
Net income	$	10,872		$	4,982
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed earnings of Opportunity Bank of Montana		(13,574	)		(7,297	)
Other adjustments, net		(578	)		480
Net cash used in operating activities		(3,280	)		(1,835	)
Cash Flows from Investing Activities:
Cash contributions from Opportunity Bank of Montana		8,000			11,400
Cash paid for acquisitions, net of cash received		-			(9,895	)
Activity in available-for-sale securities:
Sales		5,291			1,465
Maturities, principal payments and calls		620			607
Net cash provided by investing activities		13,911			3,577
Cash Flows from Financing Activities:
Employee Stock Ownership Plan payments and dividends		317			310
Payments to purchase treasury stock		(1,210	)		-
Treasury shares reissued for compensation		369			281
Dividends paid		(2,407	)		(1,995	)
Net cash used in financing activities		(2,931	)		(1,404	)
Net Increase in Cash and Cash Equivalents		7,700			338
Cash and Cash Equivalents, beginning of period		1,216			878
Cash and Cash Equivalents, end of period	$	8,916		$	1,216