Financial Performance - Net earnings for Q3 2025 were $4.9 million, a 25.4% increase from $3.9 million in Q3 2024[99] - Net earnings for the first nine months of 2025 reached $14.0 million, up 44.4% from $9.7 million in the same period of 2024[99] - Non-interest income decreased by $185,000, or 4.3%, to $4.1 million in the third quarter of 2025 compared to the same period in 2024, mainly due to lower fees and service charges[118] - Total non-interest income for the first nine months of 2025 was $11.1 million, a decrease of $321,000 or 2.8% from the same period in 2024, primarily due to lower fees related to deposit accounts[119] - Non-interest expense for the third quarter of 2025 totaled $11.3 million, an increase of $692,000 or 6.6% over the same quarter of 2024, driven by higher compensation and benefits[120] Interest Income and Expenses - Interest income for Q3 2025 was $20.7 million, a 9.0% increase from $19.0 million in Q3 2024[102] - Net interest income for Q3 2025 increased by $2.5 million, or 21.5%, to $14.1 million compared to Q3 2024[106] - The net interest margin for Q3 2025 was 3.83%, up from 3.30% in Q3 2024[106] - Interest expense for Q3 2025 decreased to $6.6 million, down from $7.4 million in Q3 2024[104] - The total cost of interest-bearing deposits decreased from 2.48% in Q3 2024 to 2.18% in Q3 2025[104] Asset and Liability Management - Average loan balances increased from $985.7 million in Q3 2024 to $1.1 billion in Q3 2025[102] - Total interest-earning assets increased to $1,478,010 thousand for the three months ended September 30, 2025, compared to $1,419,665 thousand for the same period in 2024, reflecting a growth of 4.1%[109] - Total interest-bearing liabilities rose to $1,080,690 thousand for the three months ended September 30, 2025, compared to $1,046,601 thousand for the same period in 2024, marking an increase of 3.2%[109] - The ratio of average interest-earning assets to average interest-bearing liabilities was 136.8% for the three months ended September 30, 2025, slightly up from 135.6% in the same period of 2024[109] Credit Quality - Provision for credit losses on loans was $850,000 in the third quarter of 2025, an increase from $500,000 in the same period of 2024, primarily due to loan growth[115] - Net loan charge-offs increased to $2.3 million during the third quarter of 2025, compared to $9,000 in the same period of 2024, primarily due to a single commercial credit charge-off[115] - The allowance for credit losses on loans was $12.3 million, or 1.10% of gross loans outstanding, as of September 30, 2025, down from $12.8 million or 1.22% at December 31, 2024[126] - Loans past due 30-89 days totaled $4.9 million, or 0.43% of gross loans, as of September 30, 2025, down from $6.2 million or 0.59% at December 31, 2024[128] Dividends and Shareholder Returns - The company declared a 5% stock dividend in October 2025, marking the 25th consecutive year of such dividends[97] - The company paid a quarterly cash dividend of $0.21 per share to stockholders during the quarter ended September 30, 2025[142] - As of September 30, 2025, approximately $18.8 million was available to be paid as dividends to the Company by the Bank without prior regulatory approval[143] Market Risk and Management - The primary component of market risk for the Company is interest rate volatility, which significantly impacts net interest income and the fair value of financial instruments[145] - The Asset/Liability Management Committee (ALCO) monitors interest rate sensitivity and has set policy limits for interest rate risk, assessing the position quarterly[146] - The ALCO formulates strategies based on the current outlook for interest rates and other economic factors, impacting earnings and capital[146] - The Company employs methodologies to manage interest rate risk, including analysis of interest-earning assets and interest-bearing liabilities[146] Forward-Looking Statements - Forward-looking statements in the document are based on management's beliefs and expectations, and are subject to uncertainties[148] - Factors affecting future performance include the strength of local, state, national, and international economies, as well as inflationary pressures and monetary policies[149] - Risks and uncertainties should be considered when evaluating forward-looking statements, and undue reliance should not be placed on them[150]

Core Viewpoint - Landmark Bancorp, Inc. reported strong financial performance in the third quarter of 2025, with significant improvements in credit quality, net income, and overall efficiency, reflecting the company's commitment to growth and shareholder value. Financial Performance - Net income for the third quarter totaled $4.9 million or $0.85 per diluted share, an increase of 24.1% compared to $3.9 million or $0.68 per diluted share in the same period last year [4] - The tangible book value per share increased to $20.96, up 6.6% on a linked quarter basis and 15.7% from the end of 2024 [2] - Non-interest income totaled $4.1 million, an increase of $442,000 compared to the prior quarter [9] Credit Quality - Nonperforming loans declined by almost $7 million, primarily due to the resolution of a large commercial loan on nonaccrual status [2][16] - The allowance for credit losses stood at $12.3 million, representing 1.1% of gross loans [17] - Net charge-offs totaled $2.3 million, compared to just $40,000 in the prior quarter [9][16] Loan and Deposit Growth - Average loans increased by $26.7 million, or approximately 10% annualized during the third quarter [11][15] - Total deposits increased by $51.6 million on a linked quarter basis, totaling $1.3 billion [12] - Broker deposits were the primary driver of deposit growth, alongside solid growth in non-interest-bearing demand deposits [3] Efficiency and Cost Management - The efficiency ratio improved to 60.7% for the third quarter, compared to 66.5% in the same period last year [10] - Non-interest expense totaled $11.3 million, an increase of $290,000 compared to the prior quarter, driven by higher professional fees and occupancy expenses [10] Future Outlook - The company plans to continue investing in talent and infrastructure to support customer growth and enhance operational efficiency [5][19] - Landmark Bancorp remains focused on maintaining solid credit quality and exploring efficiencies in operations amid economic uncertainties [19]

Core Insights - Landmark Bancorp, Inc. reported a 25% increase in diluted earnings per share (EPS) for Q3 2025, reaching 85 cents compared to 68 cents in the same quarter last year, with net income rising to $4.9 million from $3.9 million [2] - The company's total revenues increased to $18.2 million, up from $15.9 million a year earlier, driven by higher net interest income and improved credit quality [2] Financial Performance - Net interest income rose to $14.1 million, reflecting a 21.5% year-over-year increase, with a steady net interest margin of 3.83%, up 53 basis points from the prior year [3] - The efficiency ratio improved to 60.7% from 66.5% a year earlier, indicating better cost management [4] - Average loan balances grew by $26.7 million from the previous quarter, with significant growth in commercial real estate, residential real estate, and consumer portfolios [3][5] Loan and Deposit Trends - Gross loans at the quarter-end stood at $1.1 billion, flat with the prior quarter, but average loans expanded nearly 10% on an annualized basis [5] - Deposits increased by $51.6 million sequentially to $1.3 billion, with growth in certificates of deposit and money market accounts [6] - The loan-to-deposit ratio improved to 83.4% from 86.6% in the previous quarter, indicating better liquidity for future loan expansion [6] Credit Quality - Non-performing loans decreased by $7 million to $10 million, or 0.89% of gross loans, from 1.52% in the previous quarter, reflecting improved credit quality [7] - The allowance for credit losses ended the quarter at $12.3 million, representing 1.10% of total loans [7] Management Commentary - The CEO described the quarter as a solid period of earnings and increased profitability, attributing it to growth in both net interest and non-interest income [9] - Management emphasized ongoing investments in talent and infrastructure to support customer expansion and long-term shareholder value [11] Factors Influencing Results - The quarterly performance benefited from loan-driven revenue growth, improved funding mix, and reduced credit costs, with tangible book value increasing by 6.6% sequentially to $20.96 per share [12] - Unrealized losses on the securities portfolio declined to $9.2 million from $13.9 million in the previous quarter [12] Future Outlook - Management expressed confidence in sustaining earnings momentum, with expectations of stable credit trends and a healthy Kansas economy supporting lending opportunities [14] - The board declared a cash dividend of 21 cents per share and a 5% stock dividend, marking the 25th consecutive annual stock dividend [15]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Financial Data and Key Metrics Changes - Net income for Q3 2025 totaled $4.9 million, or $0.85 per diluted share, an increase of 24.1% in diluted earnings per share year-over-year compared to $3.9 million, or $0.68 per diluted share in Q3 2024 [3][8] - Return on average assets improved to 1.21% and return on average equity improved to 13.0% [3] - Efficiency ratio improved to 60.7% in Q3 2025 from 66.5% in Q3 2024 [12] Business Line Data and Key Metrics Changes - Total loans were flat based on period-end balances, while average loans grew nearly 10% on an annualized basis compared to the prior quarter [4][12] - Non-interest income totaled $4.1 million, an increase of $442,000 compared to the prior quarter, driven by gains on sales of mortgage loans and higher deposit-related fee income [11] - Non-performing loans declined by almost $7 million, primarily from the resolution of a large commercial real estate loan [4][16] Market Data and Key Metrics Changes - Deposits totaled $1.3 billion at September 30, 2025, increasing by $51.6 million on a linked quarter basis [13] - The Kansas economy remains healthy, with an unemployment rate of 3.8% and a 1.2% year-over-year increase in home sales [17] Company Strategy and Development Direction - The company remains risk-averse, focusing on monitoring interest rate and concentration risk while maintaining strong credit discipline [6] - The strategy emphasizes a resilient, relationship-driven approach to navigate evolving market dynamics [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the loan portfolio and the ability to navigate market dynamics, while focusing on maintaining solid credit quality amid economic uncertainties [19][18] - The company plans to continue investing in talent and infrastructure to support customer growth [6] Other Important Information - The Board declared a cash dividend of $0.21 per share and a 5% stock dividend, marking the 97th consecutive quarterly cash dividend and the 25th consecutive year of a 5% stock dividend [5] Q&A Session Summary - No questions were submitted during the Q&A session, and the call concluded with management expressing gratitude for the support and confidence in the company [20][21]

Earnings Performance - Diluted earnings per share for Q3 2025 were $0.85, up from $0.75 in Q2 2025 and $0.68 in Q3 2024[2] - Net earnings for Q3 2025 totaled $4.9 million, compared to $4.4 million in the prior quarter and $3.9 million in Q3 2024[2] - Basic net earnings per share for the three months ended September 30, 2025, were $0.85, compared to $0.76 in the same period of 2024[24] - Net earnings for the three months ended September 30, 2025, were $4,930,000, representing a 12.0% increase from $4,404,000 in 2024[24] Income and Revenue - Net interest income for Q3 2025 was $14.1 million, an increase of 3.0% from the previous quarter and 21.5% from the same quarter last year[8] - Total interest income for the three months ended September 30, 2025, was $20,739,000, an increase of 8.1% from $19,022,000 in the same period of 2024[24] - Non-interest income increased by 12.2% in Q3 2025 compared to the prior quarter, totaling $4.1 million[10] - Non-interest income for the three months ended September 30, 2025, was $4,068,000, a 12.2% increase compared to $3,626,000 in the same period of 2024[24] - Net interest income after provision for credit losses for the nine months ended September 30, 2025, was $39,046,000, up 20.1% from $32,525,000 in 2024[24] Asset and Liability Management - Total assets as of September 30, 2025, were $1,617,075,000, a slight decrease from $1,624,865,000 in June 2025[21] - Total liabilities decreased to $1,461,348,000 in September 2025 from $1,476,489,000 in June 2025, indicating a reduction of approximately 1.0%[21] - The company’s cash and cash equivalents were $23,947,000 as of September 30, 2025, down from $25,038,000 in June 2025[21] Equity and Dividends - Stockholders' equity increased to $155.7 million, with a book value of $26.92 per share as of September 30, 2025[15] - The total stockholders' equity rose to $155,727,000 in September 2025, up from $148,376,000 in June 2025, representing an increase of about 4.5%[21] - A cash dividend of $0.21 per share was declared, along with a 5% stock dividend, marking the 25th consecutive year of the stock dividend[5] Loan Performance - Average loan balances grew by $26.7 million in Q3 2025, while end-of-period loans remained flat[7] - Non-performing loans decreased to $10.0 million, or 0.89% of gross loans, from $17.0 million, or 1.52% in the prior quarter[17] - The company reported a total gross loan amount of $1,118,053,000 as of September 30, 2025, slightly up from $1,117,784,000 in June 2025[21] - The allowance for credit losses was $12.3 million, or 1.10% of total gross loans, down from 1.23% in the prior quarter[16] - Total non-performing assets decreased to $9,999,000 as of September 30, 2025, from $17,151,000 in the previous quarter[26] Efficiency Metrics - The efficiency ratio improved to 60.7% in Q3 2025, down from 62.8% in the prior quarter and 66.5% in Q3 2024[7] - Efficiency ratio improved to 60.7% from 62.8% quarter-over-quarter[30] - Tangible equity to tangible assets ratio improved to 7.66% from 7.15% quarter-over-quarter[30] Deposit Trends - Total deposits increased to $1,325,500,000 in September 2025, compared to $1,273,901,000 in June 2025, reflecting a growth of approximately 4.0%[21] - Non-interest-bearing demand deposits increased to $365,959,000 in September 2025, compared to $351,993,000 in June 2025, a growth of approximately 4.0%[21] - Loans to deposits ratio decreased to 83.36% from 86.62% year-over-year[27]

Core Insights - Landmark Bancorp, Inc. reported a solid financial performance for the third quarter of 2025, with diluted earnings per share increasing to $0.85 from $0.75 in the previous quarter and $0.68 in the same quarter last year [1][4][24] - The company achieved net earnings of $4.9 million for the third quarter, up from $4.4 million in the prior quarter and $3.9 million in the same quarter of 2024, driven by growth in net interest income and non-interest income [1][4][24] Financial Performance - For the first nine months of 2025, diluted earnings per share reached $2.41, compared to $1.69 during the same period in 2024, with net earnings totaling $14.0 million, a 44.4% increase from $9.7 million in the first nine months of 2024 [2] - The return on average assets for the third quarter was 1.21%, and the return on average equity was 13.00%, reflecting improved profitability [1][6][27] Income and Expenses - Net interest income for the third quarter totaled $14.1 million, an increase of $411,000 or 3.0% from the previous quarter, and up $2.5 million or 21.5% from the same quarter last year [7][24] - Non-interest income increased to $4.1 million, a rise of $442,000 from the previous quarter, primarily due to gains on sales of residential mortgage loans and fees and service charges [8][24] - Non-interest expenses totaled $11.3 million, an increase of $290,000 or 2.6% compared to the prior quarter, driven by higher professional fees and occupancy expenses [9][24] Asset Quality - Non-performing loans decreased by $7.0 million to $10.0 million, representing 0.89% of gross loans, compared to 1.52% in the previous quarter [16] - The allowance for credit losses was $12.3 million, or 1.10% of total gross loans, down from $13.8 million or 1.23% in the prior quarter [15] Balance Sheet Highlights - As of September 30, 2025, total assets were $1.617 billion, with gross loans totaling $1.1 billion, largely consistent with the prior quarter [11][22] - Period-end deposit balances increased by $51.6 million to $1.3 billion, driven by increases in various deposit categories [12][22] - Stockholders' equity rose to $155.7 million, with a book value per share of $26.92, up from $24.18 a year earlier [13][14] Dividends - The Board of Directors declared a cash dividend of $0.21 per share, to be paid on November 26, 2025, and a 5% stock dividend payable on December 15, 2025, marking the 25th consecutive year of such dividends [4]

Core Points - Landmark Bancorp, Inc. will release its third quarter 2025 earnings after market close on October 29, 2025 [1] - A conference call to discuss the earnings results is scheduled for October 30, 2025, at 10:00 am (CT) [1] - Investors can access the earnings call by dialing (833) 470-1428 with access code 246429 [1] Earnings Call Replay - A replay of the earnings call will be available until November 6, 2025, by calling (866) 813-9403 and using access code 671214 [2] Company Overview - Landmark Bancorp, Inc. is the holding company for Landmark National Bank, listed on NASDAQ under the symbol "LARK" [3] - The company is headquartered in Manhattan, Kansas, and operates 29 locations in 23 communities across Kansas [3] - Landmark National Bank focuses on providing quality financial and banking services [3]

Group 1 - Landmark Bancorp (NASDAQ: LARK) is the holding company for Landmark National Bank, which operates nearly 30 branches across 23 communities in Kansas [1] - The investment group European Small Cap Ideas focuses on high-quality small-cap investment opportunities in Europe, emphasizing capital gains and dividend income [1] - The group offers two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content [1]

Group 1 - Landmark Bancorp (NASDAQ: LARK) is the holding company for Landmark National Bank, which is headquartered in Kansas and operates nearly 30 branches across 23 communities in the state [1] - The investment group European Small Cap Ideas focuses on high-quality small-cap investment opportunities in Europe, emphasizing capital gains and dividend income for continuous cash flow [1] - The group offers two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content [1]