Montana Company Gets OK for Stock Offering

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%.

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