Eagle Bancorp Montana in Helena has pushed back the closing date of its pending purchase of First Community Bancorp in Glasgow, Mont.
The $1.4 billion-asset Eagle said in a regulatory filing Friday that it now expects to complete the acquisition in the first quarter. The company originally forecast a fourth quarter closing.
Eagle did not provide a reason for the new timeline.
Eagle announced the $41.3 million deal in October.
The deal is expected to be 12% accretive to Eagle’s 2022 earnings per share. It should take Eagle less than four years to earn back any dilution to its tangible book value.
Eagle plans to cut about a quarter of First Community’s annual noninterest expenses. The company expects to incur $4 million of merger-related expenses.