Tuesday, July 17, 2018

The 5 Cos in 4 Different Very Small US States (VT, WY, NM & AK) With March, April or May 2018 Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $100 Mil and Which Have Released These 2018 Quarter Earnings By July 5, 2018 Generated March, April or May 2018 Quarter Total Pretax Income (PTI) of $14 Mil, Down 46% From Their Previous Year's Quarter Total PTI of $26 Mil .......................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the Very Small US States of Vermont, Wyoming, New Mexico or Alaska with March, April or May 2018 Quarter Ends, with stock market caps of at least $100 Mil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.

 US GAAP   US GAAP 
Pretax Net
 US GAAP   US GAAP  Income Income
 US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   Effective   Effective  Better Better
  Pretax  Income  Net   Pretax  Income  Net  Income   Income  (Worse) (Worse)
  Income Tax Income Income Tax Income Tax Tax % Change % Change
Cos in Very Small US States (Loss) Expense (Loss) (Loss) Expense (Loss) Rate Rate March, March,
Market Caps of $100 Mil+ March, March, March, March, March, March, March, March, April or April or
Releasing March, April or April or April or April or April or April or April or April or April or May Qtr May Qtr
 May 2018 Quarter May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr 2018 2018
Earnings By July 5, 2018 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $  
VT: Casella Waste Systems              (6)              (2)              (4)                  -                -                -   33.3% NM NM NM
VT: Union Bankshares               3              -                 3               3               1               2 0.0% 33.3% 0% 50%
WY: Cloud Peak Energy              (8)              -                (8)            (20)              -              (20) 0.0% 0.0% 60% 60%
NM: PNM Resources             20               1             19             37             11             26 5.0% 29.7% -46% -27%
AK: Northrim Bancorp               5               1               4               6               2               4 20.0% 33.3% -17% 0%
Total all 5 Cos             14              -               14             26             14             12 0.0% 53.8% -46% 17%

The 3 Montana Cos, All 3 Banks, With March, April or May 2018 Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $100 Mil and Which Have Released These 2018 Quarter Earnings By July 5, 2018 Generated March, April or May 2018 Quarter Total Pretax Income (PTI) of $95 Mil, Up a Very Robust 28.4% From Their Previous Year's Quarter Total PTI of $74 Mil .......................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Montana with March, April or May 2018 Quarter Ends, with stock market caps of at least $100 Mil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.

 US GAAP   US GAAP 
Pretax Net
 US GAAP   US GAAP  Income Income
 US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   Effective   Effective  Better Better
  Pretax  Income  Net   Pretax  Income  Net  Income   Income  (Worse) (Worse)
  Income Tax Income Income Tax Income Tax Tax % Change % Change
Montana Company (Loss) Expense (Loss) (Loss) Expense (Loss) Rate Rate March, March,
Market Caps of $100 Mil+ March, March, March, March, March, March, March, March, April or April or
Releasing March, April or April or April or April or April or April or April or April or April or May Qtr May Qtr
 May 2018 Quarter May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr 2018 2018
Earnings By July 5, 2018 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $  
Glacier Bancorp             47               8             39             41             10             31 17.0% 24.4% 15% 26%
First Interstate Banc System             47             10             37             32               9             23 21.3% 28.1% 47% 61%
Eagle Bancorp Montana               1              -                 1               1              -                 1 0.0% 0.0% 0% 0%
Total all 3 Montana Cos             95             18             77             74             19             55 18.9% 25.7% 28.4% 40%

The 4 North Dakota Cos With March, April or May 2018 Quarter Ends (The First Full Quarter of the Trump Tax Cuts Act), With Market Caps of At Least $100 Mil and Which Have Released These 2018 Quarter Earnings By July 5, 2018 Generated March, April or May 2018 Quarter Total Pretax Income (PTI) of $32 Mil, Sadly Down By 33.3% From Their Previous Year's Quarter Total PTI of $48 Mil .......................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of North Dakota with March, April or May 2018 Quarter Ends, with stock market caps of at least $100 Mil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.
 US GAAP   US GAAP 
Pretax Net
 US GAAP   US GAAP  Income Income
 US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   US GAAP   Effective   Effective  Better Better
Pretax  Income  Net Pretax  Income  Net  Income   Income  (Worse) (Worse)
Income Tax Income Income Tax Income Tax Tax % Change % Change
North Dakota Company (Loss) Expense (Loss) (Loss) Expense (Loss) Rate Rate March, March,
Market Caps of $100 Mil+ March, March, March, March, March, March, March, March, April or April or
Releasing March, April or April or April or April or April or April or April or April or April or May Qtr May Qtr
 May 2018 Quarter May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr May Qtr 2018 2018
Earnings By July 5, 2018 2018 2018 2018 2017 2017 2017 2018 2017 vs 2017 vs 2017
mils $ mils $ mils $ mils $ mils $ mils $
MDU Resources             50               8             42             48             12             36 16.0% 25.0% 4% 17%
NI Holdings               8               2               6               7               2               5 25.0% 28.6% 14% 20%
Titan Machinery              (2)              -                (2)              (9)              (3)              (6) 0.0% 33.3% 78% 67%
Investors Real Estate Trust            (24)              -              (24)               2              -                 2 0.0% 0.0% -1300% -1300%
Total all 4 North Dakota Cos             32             10             22             48             11             37 31.3% 22.9% -33.3% -41%