Eagle Bancorp Montana in Helena has completed a $10 million private placement of subordinated bonds.
The $555 million-asset company expects to net $9.8 million from the offering. It plans to use the proceeds for acquisitions, organic growth and general corporate purposes. The capital will count towards Eagle's Tier 2 capital requirements
The bonds mature in ten years and pay a fixed annual interest rate of 6.75% with installments due quarterly.
FIG Partners was Eagle's financial adviser. Holland & Knight was legal counsel on the offering.