2014 Q4 Form 10-Q Financial Statement

#000115752314004535 Filed on November 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $4.906M $4.703M $4.141M
YoY Change 13.64% 13.57% 28.4%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $570.0K $292.0K $283.0K
YoY Change 5.56% 3.18% 49.74%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $515.0K $515.0K $524.0K
YoY Change -0.19% -1.72% -7.42%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $412.0K $765.0K $703.0K
YoY Change -18.25% 8.82% 24.65%
Income Tax -$512.0K $47.00K $36.00K
% Of Pretax Income -124.27% 6.14% 5.12%
Net Earnings $924.0K $718.0K $667.0K
YoY Change 94.94% 7.65% 58.06%
Net Earnings / Revenue 18.83% 15.27% 16.11%
Basic Earnings Per Share $0.24 $0.18 $0.17
Diluted Earnings Per Share $0.24 $0.18 $0.17
COMMON SHARES
Basic Shares Outstanding 3.866M shares 3.890M shares 3.899M shares
Diluted Shares Outstanding 3.944M shares 3.978M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $12.50M $3.910M $7.126M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $19.96M $20.04M $18.80M
YoY Change 4.22% 6.57% 21.06%
Goodwill $7.034M $7.034M $6.890M
YoY Change 0.0% 2.09%
Intangibles
YoY Change
Long-Term Investments $155.0K $155.0K $155.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $1.500M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $560.2M $553.9M $513.9M
YoY Change 8.49% 7.79% 60.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $4.600M $4.700M $3.800M
YoY Change 43.75% 23.68% -40.63%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.600M $4.700M $3.800M
YoY Change 43.75% 23.68% -40.63%
LONG-TERM LIABILITIES
Long-Term Debt $5.200M $5.200M $5.200M
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.200M $5.200M $5.200M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.600M $4.700M $3.800M
Total Long-Term Liabilities $5.200M $5.200M $5.200M
Total Liabilities $505.7M $501.2M $465.7M
YoY Change 7.91% 7.64% 75.02%
SHAREHOLDERS EQUITY
Retained Earnings $35.89M $35.25M $34.23M
YoY Change 4.25% 2.98% 3.31%
Common Stock $22.16M $22.17M $22.16M
YoY Change 0.02% 0.05% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.194M $2.333M $1.993M
YoY Change 21.89% 17.06% -9.82%
Treasury Stock Shares 204.3K shares
Shareholders Equity $54.50M $52.65M $48.19M
YoY Change
Total Liabilities & Shareholders Equity $560.2M $553.9M $513.9M
YoY Change 8.49% 7.79% 60.56%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $924.0K $718.0K $667.0K
YoY Change 94.94% 7.65% 58.06%
Depreciation, Depletion And Amortization $570.0K $292.0K $283.0K
YoY Change 5.56% 3.18% 49.74%
Cash From Operating Activities $5.360M -$1.140M $2.280M
YoY Change -17.41% -150.0% -18.31%
INVESTING ACTIVITIES
Capital Expenditures -$220.0K $228.0K $141.0K
YoY Change -66.15% 61.7% -9.62%
Acquisitions
YoY Change
Other Investing Activities -$860.0K -$13.54M -$5.030M
YoY Change -90.64% 169.18% 119.65%
Cash From Investing Activities -$1.080M -$13.77M -$5.170M
YoY Change -89.02% 166.34% 111.02%
FINANCING ACTIVITIES
Cash Dividend Paid $290.0K $283.0K
YoY Change 2.47% 2.17%
Common Stock Issuance & Retirement, Net $533.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.310M 12.00M 3.850M
YoY Change 31.4% 211.69% -145.75%
NET CHANGE
Cash From Operating Activities 5.360M -1.140M 2.280M
Cash From Investing Activities -1.080M -13.77M -5.170M
Cash From Financing Activities 4.310M 12.00M 3.850M
Net Change In Cash 8.590M -2.910M 960.0K
YoY Change -12371.43% -403.13% -111.89%
FREE CASH FLOW
Cash From Operating Activities $5.360M -$1.140M $2.280M
Capital Expenditures -$220.0K $228.0K $141.0K
Free Cash Flow $5.580M -$1.368M $2.139M
YoY Change -21.85% -163.96% -18.82%

Facts In Submission

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Eagle Bancorp Montana, Inc.
CY2014Q3 dei Trading Symbol
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EBMT
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<div style="FONT-SIZE: 7pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"> <font style="TEXT-DECORATION: underline; DISPLAY: inline">NOTE 1.&#xA0;BASIS OF PRESENTATION</font></font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The accompanying unaudited consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission.&#xA0;&#xA0;Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements.&#xA0;&#xA0;However, such information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of our financial position, results of operations, changes in comprehensive income and cash flows for the unaudited interim periods.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">In August 2014, the Board of Directors of Eagle Bancorp Montana, Inc. (&#x201C;the Company&#x201D; or &#x201C;Eagle&#x201D;) approved a change in the Company&#x2019;s year end from June 30 to December 31 of each year.&#xA0;&#xA0;The year change is effective beginning with the Company&#x2019;s 2015 fiscal year, which will now begin on January 1, 2015 and end on December 31, 2015.&#xA0;&#xA0;The results of operations for the three month period ended September 30, 2014 are not necessarily indicative of the results to be expected for the six months ending December 31, 2014 or any other period.&#xA0;&#xA0;The unaudited consolidated financial statements and notes presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in Eagle&#x2019;s Form 10-K for the fiscal year ended June 30, 2014.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company evaluated subsequent events for potential recognition and/or disclosure through November 12, 2014 the date the consolidated financial statements were issued.</font></div> </div>
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ComprehensiveIncomeNetOfTax
1718000
CY2014Q3 us-gaap Servicing Fees Net
ServicingFeesNet
380000
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1713000
CY2014Q3 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-89000
CY2014Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
80000
CY2014Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
533000
CY2014Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
2343000
CY2014Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
4703000
CY2014Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
76000
CY2014Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
228000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
718000
CY2014Q3 us-gaap Interest Paid
InterestPaid
545000
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
630000
CY2014Q3 us-gaap Investment Advisory Management And Administrative Fees
InvestmentAdvisoryManagementAndAdministrativeFees
112000
CY2014Q3 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-1000
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
245000
CY2014Q3 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
40000
CY2014Q3 us-gaap Interest Expense
InterestExpense
515000
CY2014Q3 us-gaap Postage Expense
PostageExpense
44000
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
262000
CY2014Q3 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
80000
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3131000
CY2014Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
619000
CY2014Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
533000
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
105000
CY2014Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2909000
CY2014Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
73000
CY2014Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
130000
CY2014Q3 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
997000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47000
CY2014Q3 us-gaap Noninterest Expense
NoninterestExpense
5865000
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
461000
CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
69000
CY2014Q3 us-gaap Depreciation
Depreciation
292000
CY2014Q3 us-gaap Dividends Cash
DividendsCash
290000
CY2014Q3 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
540000
CY2014Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
11995000
CY2014Q3 us-gaap Occupancy Net
OccupancyNet
695000
CY2014Q3 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
165000
CY2014Q3 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2014Q3 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
13100000
CY2014Q3 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-13766000
CY2014Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
507000
CY2014Q3 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
3000
CY2014Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
215000
CY2014Q3 us-gaap Advertising Expense
AdvertisingExpense
166000
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
194000
CY2014Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
688000
CY2014Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
655000
CY2014Q3 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
166000
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
51000
CY2014Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
1841000
CY2014Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
338000
CY2014Q3 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
21000
CY2014Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4060000
CY2014Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
9646000
CY2014Q3 ebmt Fixed Rate Loan Hedged Original Maturity Term
FixedRateLoanHedgedOriginalMaturityTerm
P20Y
CY2014Q3 ebmt Employee Stock Ownership Plan Esop Number Of Committed To Be Released Value
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedValue
45000
CY2014Q3 ebmt Employee Stock Ownership Plan Esop Number Of Shares Committed To Be Released
EmployeeStockOwnershipPlanESOPNumberOfSharesCommittedToBeReleased
4154 shares
CY2014Q3 ebmt Payments For Proceeds From Loan Originations And Principal Collections
PaymentsForProceedsFromLoanOriginationsAndPrincipalCollections
25325000
CY2014Q3 ebmt Employee Stock Ownership Plan Esop Value Of Shares Released
EmployeeStockOwnershipPlanESOPValueOfSharesReleased
45000
CY2014Q3 ebmt Minimum Principal Balance Of Loans For Quarterly Rating Review
MinimumPrincipalBalanceOfLoansForQuarterlyRatingReview
500000
CY2014Q3 ebmt Past Due Period Beyond Which Loan Is Considered Default
PastDuePeriodBeyondWhichLoanIsConsideredDefault
P90D
CY2014Q3 ebmt Minimum Number Of Periods Consumer Loans Are Delinquent For Quarterly Rating Review
MinimumNumberOfPeriodsConsumerLoansAreDelinquentForQuarterlyRatingReview
P90D
CY2014Q3 ebmt Consulting Fees
ConsultingFees
176000
CY2014Q3 ebmt Minimum Number Of Periods Commercial Loans Are Delinquent For Quarterly Rating Review
MinimumNumberOfPeriodsCommercialLoansAreDelinquentForQuarterlyRatingReview
P60D
CY2014Q3 ebmt Commitments To Extend Credit Maximum Binding Period
CommitmentsToExtendCreditMaximumBindingPeriod
P60D
CY2014Q3 ebmt Interest Expense Federal Home Loan Bank Advance And Other Borrowings
InterestExpenseFederalHomeLoanBankAdvanceAndOtherBorrowings
156000
CY2014Q3 ebmt Supplemental Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
SupplementalUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1519000
CY2014Q3 ebmt Mortgage Servicing Rights Capitalized
MortgageServicingRightsCapitalized
323000
CY2014Q3 ebmt Payments For Short Term Advances From Federal Home Loan Bank And Other Borrowings
PaymentsForShortTermAdvancesFromFederalHomeLoanBankAndOtherBorrowings
232000

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