Eagle Bancorp Montana Approves Amendments to Salary Continuation Agreements for Key Executives

Eagle Bancorp Montana, Inc. (NASDAQ:EBMT) recently announced significant amendments to the Salary Continuation Agreements of its top executives. The Boards of Directors of the company and its wholly-owned subsidiary, Opportunity Bank of Montana, approved these changes on October 17, 2024.

Laura F. Clark, President and Chief Executive Officer of Eagle Bancorp Montana, will see an increase in her annual benefit under the Salary Continuation Agreement from $26,500 to $46,000, effective November 1, 2024.

Additionally, Miranda J. Spaulding, the Senior Vice President and Chief Financial Officer, will also benefit from an amendment to her Salary Continuation Agreement with an increase from $95,000 to $99,500 annually, starting November 1, 2024.

Dale F. Field, the Senior Vice President and Chief Credit Officer, will experience a raise as well. His annual benefit under the Salary Continuation Agreement has been elevated from $70,000 to $89,000, effective November 1, 2024.

The amendments are detailed in the Fourth, First, and Third Amendments to the Salary Continuation Agreements for Laura F. Clark, Miranda J. Spaulding, and Dale F. Field, respectively. These agreements are recorded as Exhibits 10.1, 10.2, and 10.3 in the Current Report on Form 8-K filed by Eagle Bancorp Montana with the Securities and Exchange Commission.

These amendments signify the Company’s commitment to its executives and their valuable contributions to the organization. For more details on the amendments, interested parties can refer to the official filings made with the SEC.

This news update was provided as part of the company’s obligation to report significant events or changes promptly, in compliance with regulatory requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Eagle Bancorp Montana’s 8K filing here.

About Eagle Bancorp Montana

Eagle Bancorp Montana, Inc operates as the bank holding company for Opportunity Bank of Montana that provides various retail banking products and services to small businesses and individuals in Montana. It accepts various deposit products, such as checking, savings, money market, and individual retirement accounts, as well as certificates of deposit accounts.