The parent company of American Federal Savings Bank in Helena, Mont., has gotten regulatory approval to complete the second step of its conversion to a stock company.

Eagle Bancorp Montana Inc. announced late Friday that it would raise $20.4 million to $27.6 million in an offering scheduled to begin Feb. 23.

In a filing with the Securities and Exchange Commission, the company said the additional capital could be used to finance acquisitions and the company's organic growth.

At Sept. 30, its nearly $300 million-asset thrift subsidiary had a total risk-based capital ratio of 13.72%, a leverage ratio of 9.45% and a Tier 1 risk-based ratio of 13.43%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.