• Wells Fargo for southwestern Montana.
• U.S. Bancorp for Montana's local communities.
• A community-focused Bank of America for Montana.

Eagle Bancorp Montana (EBMT) provides the following major financial services:

• Deposit Accounts: Services that allow individuals and businesses to securely save and manage their money, including checking, savings, and certificate of deposit accounts.
• Lending Services: Providing various types of loans to individuals and businesses for purposes such as real estate, commercial ventures, and personal needs.
• Online & Mobile Banking: Digital platforms that enable customers to conveniently access accounts, manage funds, and perform transactions from anywhere.
• Cash Management Services: Specialized offerings for businesses to efficiently manage their daily financial operations, including payment processing and liquidity management tools.

Eagle Bancorp Montana (EBMT) is a bank holding company, and its primary subsidiary, Eagle Bank, provides banking and financial services. As a community bank, it primarily serves a broad base of customers within its operating region rather than having a few major corporate customers that resell its products.

The company primarily sells its services to individuals and businesses. Its customer categories include:

• Individuals: Consumers seeking checking and savings accounts, certificates of deposit, personal loans, residential mortgages, and home equity lines of credit.
• Businesses: Small to medium-sized commercial and industrial businesses requiring commercial loans, lines of credit, business checking accounts, and treasury management services.
• Commercial Real Estate Investors and Developers: Clients seeking financing for commercial real estate acquisition, construction, and development projects.

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Laura F. Clark, President and Chief Executive Officer

Laura F. Clark joined Opportunity Bank, the holding company of Eagle Bancorp Montana, in 2014, initially serving as CFO and COO before becoming President in 2022 and CEO in 2023. Prior to her tenure at Eagle Bancorp Montana, she served as the Senior Vice President and Chief Financial Officer of the Bank of Bozeman starting in 2005. Her extensive career in banking, spanning over 40 years, includes various executive positions at institutions such as First National Bancorp, Bankers Resource Center, Security Bank, Bank of Montana System, and Montana Bancsystem. Ms. Clark also serves as a Director for the Federal Reserve Bank of Minneapolis and is on the boards of the Montana Independent Bankers Association and Exploration Works.

Miranda J. Spaulding, Senior Vice President, Chief Financial Officer and Principal Accounting Officer

Miranda J. Spaulding joined the bank in 2013 and was promoted to Vice President in 2018. She previously held the position of Corporate Financial Director for the Bank. Ms. Spaulding is a Certified Public Accountant and brings over 20 years of experience in financial reporting for public companies.

Peter J. Johnson, Director (former President and CEO)

Peter J. Johnson served as the President and Chief Executive Officer of Eagle Bancorp Montana from 2007 until his retirement on December 31, 2022. He had been with Opportunity Bank since 1981, holding roles such as President, Executive Vice President, and Chief Financial Officer during his career. During his leadership as CEO, Mr. Johnson was instrumental in taking the company through its second step IPO in 2010, oversaw a branch acquisition, and guided the bank through four whole bank acquisitions, which contributed to the growth of Eagle's assets from $240 million in 2007 to $1.44 billion in 2021.

Mark A. O'Neill, Senior Vice President and Chief Lending Officer

Mark A. O'Neill was promoted to Senior Vice President/Chief Lending Officer in October 2018. His background includes various lending and management roles at First Citizens Bank and Wells Fargo prior to joining Eagle Bancorp Montana.

Patrick D. Rensmon, Senior Vice President and Chief Operating Officer

Patrick D. Rensmon joined Eagle in September 2016 as Vice President/Chief Information Officer. He was promoted to Senior Vice President in October 2017 and subsequently to Senior Vice President/Chief Operating Officer in October 2022.

1. Material Weakness in Financial Reporting Controls: Eagle Bancorp Montana has identified a significant risk related to a material weakness in its internal control over financial reporting, specifically concerning the classification of borrowings within the statement of cash flows. This deficiency could lead to potential misstatements in financial statements, adversely affecting the company's ability to provide accurate and timely financial information. Such vulnerabilities may harm its reputation, reduce investor confidence, negatively impact its stock price, and potentially lead to legal proceedings and challenges in meeting regulatory requirements.
2. Declining Revenue Projections: Despite recent profit margin gains, Eagle Bancorp Montana faces declining revenue projections. Revenue is projected to decline by 3.3% per year over the next three years. This factor may limit consistent long-term growth for investors seeking stability and could temper excitement about a sharp re-rating of the stock's valuation unless business momentum improves.

The primary clear emerging threat to Eagle Bancorp Montana (EBMT) is the rapid evolution and adoption of digital-first banking models and fintech solutions, coupled with a fundamental shift in consumer preferences towards digital channels for financial services. This phenomenon is analogous to how Netflix disrupted Blockbuster or Uber challenged traditional taxis.

Purely digital banks (often called neobanks or challenger banks) and advanced financial technology (fintech) platforms are increasingly attracting customers by offering superior user experiences, competitive interest rates on deposits, lower fees, and highly convenient mobile-first services. These entities often operate with significantly lower overheads than traditional brick-and-mortar banks, allowing them to innovate faster and offer more attractive terms. Concurrently, there is a clear and accelerating trend among consumers, particularly younger generations, who prioritize digital accessibility, convenience, and efficiency over physical branch interactions. This reduces the value proposition of a traditional regional bank's branch network.

For Eagle Bancorp Montana, a regional bank with a traditional branch-based operating model, this represents a significant threat. It risks the erosion of its customer base and deposit share to competitors that offer more seamless and technologically advanced banking experiences. The pressure to invest heavily in digital infrastructure to match these evolving expectations places a substantial burden on regional banks, potentially impacting profitability and competitive positioning if not adequately addressed.

The addressable markets for Eagle Bancorp Montana's main products and services in the region of Montana are as follows:

• Commercial Banking (Commercial and Industrial Loans, Commercial Real Estate Loans): $4.2 billion (Montana, 2025)
• Agricultural Loans: $1.44 billion (Montana, 2023)
• Deposit Services: $30.30 billion (Montana, for community bank deposits)
• Residential Mortgage Loans: null
• Consumer Loans (e.g., auto loans, personal loans): null

• Diversification and Growth of the Loan Portfolio: Eagle Bancorp Montana is actively focusing on diversifying its loan portfolio by increasing commercial and agricultural loans, complementing its existing strong mortgage lending capabilities. This strategy aims to mitigate exposure to specific market segments and enhance interest rate spread management. Commercial real estate loans, for example, saw an increase in the third quarter of 2025.
• Net Interest Margin (NIM) Expansion: The company has demonstrated growth in its Net Interest Margin, driven by higher interest and fees on loans and a reduction in interest expense on total borrowings. Strategic efforts, including significant debt reduction (total borrowings decreased 31% year-to-date in 2025), have lowered the cost of funds and contributed to NIM expansion.
• Growth in Total Deposits: Eagle Bancorp Montana experienced a 4.2% increase in total deposits from December 2024 to September 2025, primarily fueled by growth in money market deposits and noninterest checking accounts. A resilient core deposit base is crucial for supporting lending activities and overall profitability.
• Expansion of Commercial Banking Model and Community Banking Presence: The bank continues to expand its commercial banking model and strengthen its community banking presence within Montana. This strategic focus aims to deepen customer relationships and capture market share in its operating regions.
• Growth in Net Mortgage Banking Income: Eagle Bancorp Montana has reported positive growth in its net mortgage banking income, which increased by 10.9% in the first nine months of 2025 compared to the previous year. This non-interest income stream contributes to overall revenue.

Share Repurchases

• Eagle Bancorp Montana renewed its stock repurchase plan on April 29, 2025.
• During the nine-month period ending September 30, 2025, the company purchased 75,000 treasury shares at an average cost of $15.52 per share, totaling approximately $1,164,000.

Share Issuance

• On November 3, 2025, Eagle Bancorp Montana's SVP–Chief Retail Officer acquired 2,627 shares of common stock at $0 per share through an equity award granted under a stock incentive plan.