On Mar. 16, 2022, Eagle Bancorp Montana, Inc. (the “Company,” “Eagle”), the holding company of Opportunity Bank of Montana (the “Bank”), today announced that Peter J. Johnson, President and Chief Executive Officer, will retire at the end of the year. The Board of Directors named Laura Clark, the current Executive Vice President, Chief Financial Officer and Chief Operating Officer of the Company, to succeed the position of President of the Company and the Bank, effective Apr. 1, 2022. She will also join the Board of Directors at that time. Following Mr. Johnson’s retirement on Dec. 31, 2022, Ms. Clark will assume the responsibilities of President and Chief Executive Officer of the Company and the Bank.

“Pete has been a remarkable leader and a highly effective CEO, and we wish him every happiness in his well-deserved retirement as we continue to build on his legacy,” stated Rick Hays, Chairman of the Board. “During his tenure, he has navigated the Company through a period of significant change, including over the course of the Great Recession and the global pandemic, and he has fostered a culture that continues to differentiate us in the marketplace.” Mr. Johnson has been with the Bank since 1981 and has held the title of President and Chief Executive Officer of the Company since 2007. He was responsible for taking the Company through its second step IPO in 2010, guiding the Bank through a branch acquisition and four whole bank acquisitions and contributing to the growth of Eagle from $240 million in assets June 30, 2007, to $1.44 billion in assets at Dec. 31, 2021. Mr. Johnson will continue to serve on the Company’s Board of Directors.

“Laura has extensive and broad experience in Montana banking and is one of the most respected bankers in our Montana markets. She has earned this opportunity,” said Mr. Johnson. Ms. Clark joined Eagle in 2014 as Senior Vice President and Chief Financial Officer. Over the past eight years, Ms. Clark’s strategic contributions have helped the Company to grow in both regional footprints as well as customer product offerings and services.

Prior to joining Eagle, Ms. Clark served as the Senior Vice President and Chief Financial Officer of the Bank of Bozeman since 2005. Her experience spans over 40 years and includes a variety of executive positions with First National Bancorp, Bankers Resource Center, Security Bank, Bank of Montana System and Montana Bancsystem. Ms. Clark holds a Bachelor of Arts degree in Business and Spanish from Montana State University in Billings, Montana, after completing her studies at the University of Salamanca, Spain. She also serves as a Board Member of Exploration Works and Montana Independent Bankers and is a member of the Helena Rotary Club.

To complement the transition, Miranda Spaulding will be promoted to Senior Vice President/Chief Financial Officer effective Apr. 1, 2022. Ms. Spaulding, CPA, was promoted to Vice President in 2018 and is currently the Corporate Financial Director. She has been with the Bank since 2013 and has over 20 years of experience in financial reporting for public companies. Ms. Spaulding holds a Bachelor of Science degree in Business-Accounting Option and a Master of Professional Accountancy degree from Montana State University. She is a certified public accountant and a member of the Montana Society of CPAs and the American Institute of CPAs. Additionally, Ms. Spaulding is on the Steerin Committee for Intermountain’s Festival of Trees. “Taking a methodical and thoughtful approach to this transition was important to us,” said Hays. “We wanted to ensure that our customers, employees and shareholders feel confident with the planned transition in leadership. We have been very fortunate to have been led by Pete and the team he has built these past 15 years. We firmly believe that Laura, Miranda, and the team will continue with the same dedication and enthusiasm.