Manhattan, KS, April 24, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the first quarter of 2025 after the market closes on Wednesday, April 30, 2025. The Company will host a conference call to discuss these results on Thursday, May 1, 2025 at 9:30 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 866149. Investors are encouraged to call the dial-in number at least 5 minutes ...

Interest Income and Loans - Interest income increased by $9,171 thousand in 2024 compared to 2023, driven by a $9,645 thousand increase in loans[113] - The average balance of loans receivable increased to $974,294 thousand in 2024, with a yield of 6.30%[116] - As of December 31, 2024, total gross loans increased to $1,052,353,000 from $948,656,000 in 2023, representing an increase of approximately 10.95%[122] - One-to-four family residential real estate loans increased to $352,209,000 in 2024 from $302,544,000 in 2023, showing growth in this segment[122] - As of December 31, 2024, total loans amounted to $12,825 million, a 20.8% increase from $10,608 million in 2023[132] Interest Expense and Net Interest Income - Net interest income for 2024 was $45,724 thousand, up from $43,292 thousand in 2023, reflecting a net interest margin of 3.28%[116] - Interest expense rose to $28,175 thousand in 2024, compared to $21,391 thousand in 2023, primarily due to higher costs associated with deposits[116] - The company's interest rate spread remained stable at 2.58% for both 2024 and 2023[117] - The average balance of interest-earning assets increased to $1,413,525 thousand in 2024, with an overall yield of 5.28%[116] - The total interest-bearing liabilities increased to $1,042,316 thousand in 2024, with a cost of 2.70%[116] Credit Quality and Allowance for Credit Losses - Non-accrual loans rose significantly to $13,115,000 in 2024 from $2,391,000 in 2023, indicating a substantial increase in credit risk[125] - The allowance for credit losses increased to $12,825,000 in 2024, up from $10,608,000 in 2023, reflecting a proactive approach to managing potential loan losses[129] - The ratio of allowance for credit losses to total gross loans was 1.22% as of December 31, 2024, compared to 1.12% in 2023[125] - The company recorded net loan charge-offs of $183,000 in 2024, contrasting with net loan recoveries of $44,000 in 2023, indicating a shift in credit performance[129] - The total non-performing assets increased to $13,282,000 in 2024 from $3,319,000 in 2023, highlighting a deterioration in asset quality[125] Deposits and Funding - Average deposit balances increased to $1,301,094 thousand in 2024 from $1,285,821 thousand in 2023, with a notable rise in the average rate paid on certificates of deposit to 4.26% from 3.08%[140] - Total deposits included uninsured deposits of $181.5 million as of December 31, 2024, representing 13.7% of total deposits[140] - The average balance of money market and checking accounts was $589,360 thousand in 2024, with an average rate of 2.31%[140] Financial Ratios and Performance - Return on average assets improved to 0.83% in 2024 from 0.80% in 2023, while return on average equity decreased to 10.01% from 10.70%[144] - The equity to total assets ratio improved to 8.65% in 2024 from 8.13% in 2023[144] - The ratio of average interest-earning assets to average interest-bearing liabilities was 135.6% in 2024, down from 137.9% in 2023[117] Operational and Strategic Risks - The bank faces intense competition from various financial institutions, which could negatively impact loan and deposit amounts, as well as net interest income[187] - The bank's community banking strategy relies heavily on its management team, and the unexpected loss of key managers could adversely affect operations[193] - The bank is susceptible to cybersecurity risks, with increasing electronic fraudulent activity and data breaches in the financial services industry[197] - The company relies heavily on third-party information technology and telecommunications systems, which if disrupted, could adversely affect operations and financial condition[200] - Operational risks include customer or employee fraud and data processing system failures, which could result in financial losses and regulatory sanctions[204] Future Outlook and Challenges - Future bank failures may lead to increased FDIC insurance premiums, adversely affecting the bank's financial condition and dividend payments[180] - The company anticipates needing to raise additional capital for future growth, particularly for acquisitions, but market conditions may affect this ability[208] - The bank's growth strategy includes potential acquisitions, which may expose it to unknown liabilities and integration challenges[185] - Changes in accounting principles and financial reporting standards could materially impact the bank's financial condition and results of operations[183] - The company may face challenges in replacing core banking and information service vendors, potentially leading to increased costs and customer loss[201] Investment and Market Conditions - The trading market for the company's common shares is limited, affecting liquidity and resale potential for shareholders[212] - Stock price volatility may occur due to fluctuations in operating results and broader market conditions, which could negatively impact market price[213] - Potential partnerships with digital asset companies could require significant investment and pose competitive risks[189] - The company had $178.8 million in municipal securities, representing 48.0% of the total securities portfolio as of December 31, 2024[176]

Landmark Bancorp, Inc. (NASDAQ:LARK) Q4 2024 Results Conference Call February 5, 2025 11:00 AM ET Company Participants Abby Wendel - President and Chief Executive Officer Mark Herpich - Chief Financial Officer Raymond McLanahan - Chief Credit Officer Conference Call Participants Ross Haberman - RLH Investments John Rodis - Janney Operator Hello, everyone, and a warm welcome to today's Landmark Bancorp Inc. Fourth Quarter Earnings Call. My name is Seb, and I'll be the operator for your call today. [Operator ...

Financial Performance - Landmark Bancorp reported a 6.3% increase in net earnings for 2024, totaling $13.0 million compared to $12.2 million in 2023[3] - Diluted earnings per share for Q4 2024 were $0.57, down from $0.68 in Q3 2024 but up from $0.46 in Q4 2023[2] - Basic net earnings per share for the year ended December 31, 2024, were $2.26, compared to $2.13 in 2023, reflecting a growth of 6.1%[24] Loan and Deposit Growth - Total gross loans increased by $51 million, or 20% annualized, in Q4 2024, with a total of $1.1 billion in gross loans as of December 31, 2024[5][13] - Total deposits rose by $53.3 million, or 16.6% annualized, reaching $1.3 billion by December 31, 2024[14] - Gross loans reached $1,052,353 thousand in December 2024, up from $948,656 thousand in December 2023, marking a significant increase of 10.9%[21] - Total deposits rose to $1,328,766 thousand in December 2024, compared to $1,316,251 thousand in December 2023, reflecting an increase of 0.4%[21] Interest Income and Expenses - Net interest income for Q4 2024 was $12.4 million, a 6.9% increase from the previous quarter, with a net interest margin improvement to 3.51%[7][8] - Total interest income for the three months ended December 31, 2024, was $18,952,000, an increase from $17,486,000 for the same period in 2023, representing a growth of 8.4%[24] - Net interest income after provision for credit losses for the year ended December 31, 2024, was $43,424,000, compared to $42,943,000 in 2023, reflecting a year-over-year increase of 1.1%[24] - Non-interest expenses increased to $11.9 million in Q4 2024, up $1.3 million from the prior quarter, driven by higher professional fees and compensation costs[11] Non-Interest Income - Non-interest income decreased to $3.4 million in Q4 2024, primarily due to a $1.0 million loss on the sale of investment securities[10] - Non-interest income for the three months ended December 31, 2024, totaled $3,371,000, up from $2,254,000 in the same period of 2023, marking a significant increase of 49.6%[24] - Adjusted non-interest income increased to $4,340,000 from $3,980,000 in September 2024[30] Asset Quality and Credit Losses - The allowance for credit losses was $12.8 million, or 1.22% of total gross loans, with net loan charge-offs of $219,000 in Q4 2024[16] - The provision for credit losses increased to $1,500,000 for the three months ended December 31, 2024, compared to $50,000 in the same period of 2023, indicating a substantial rise in credit loss provisions[24] - Total non-performing assets decreased to $13,282,000 as of December 31, 2024, from $3,319,000 in the same period of 2023, indicating improved asset quality[26] - Total non-performing loans to gross loans outstanding decreased to 1.25% from 1.34%[27] - Allowance for credit losses to gross loans outstanding increased to 1.22% from 1.15%[27] Tax and Dividends - The effective tax rate for Q4 2024 was (37.0%), reflecting the recognition of $1.0 million in previously unrecognized tax benefits[12] - Landmark declared a cash dividend of $0.21 per share, to be paid on March 5, 2025, marking the 24th consecutive year of stock dividends[5] Balance Sheet Highlights - Total assets increased to $1,574,142 thousand in December 2024, up from $1,561,672 thousand in December 2023, representing a growth of 0.8%[21] - The total stockholders' equity was $136,215 thousand in December 2024, a slight decrease from $126,914 thousand in December 2023, reflecting a change of 7.3%[21] - The total liabilities increased to $1,437,927 thousand in December 2024, compared to $1,434,758 thousand in December 2023, showing a marginal increase of 0.2%[21] - Cash and cash equivalents decreased to $20,275 thousand in December 2024 from $27,101 thousand in December 2023, a decline of 25.3%[21] - The investment securities available-for-sale totaled $372,512 thousand in December 2024, down from $452,769 thousand in December 2023, a decrease of 17.7%[21] Efficiency and Returns - The efficiency ratio for the three months ended December 31, 2024, was 70.0%, compared to 71.9% in the same period of 2023, showing improved operational efficiency[26] - Return on average assets for the three months ended December 31, 2024, was 0.83%, an increase from 0.67% in the same period of 2023[26] - Return on average equity for the three months ended December 31, 2024, was 9.54%, down from 9.39% in the same period of 2023[26] - Efficiency ratio improved to 70.0% from 66.5% in the previous quarter[30] - Tangible equity to tangible assets ratio was 6.58%, down from 6.84% in the previous quarter[30]

Manhattan, KS, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.57 for the three months ended December 31, 2024, compared to $0.68 per share in the third quarter of 2024 and $0.46 per share in the same quarter last year. Net income for the fourth quarter totaled $3.3 million, compared to $2.6 million in the fourth quarter of 2023 and $3.9 million in the prior quarter. For the three months ended December 31, 2024, the return on aver ...

Manhattan, KS, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the fourth quarter of 2024 after the market closes on Tuesday, February 4, 2025. The Company will host a conference call to discuss these results on Wednesday, February 5, 2024 at 10:00 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 296482. Investors are encouraged to call the dial-in number at least 5 m ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 0-33203 LANDMARK BANCORP, INC. (Exact name of registrant as specified in its charter) Delaware 43-1930755 | --- | --- | - ...

Landmark Bancorp, Inc. (NASDAQ:LARK) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Abby Wendel – President and Chief Executive Officer Mark Herpich – Chief Financial Officer Raymond McLanahan – Chief Credit Officer Conference Call Participants Ross Haberman – RLH Investments Operator Hello, everyone, and welcome to today's Landmark Bancorp Third Quarter Earnings Call. My name is Seb, and I'll be the operator for your call today. [Operator Instructions] I will now hand th ...

Financial Performance - Landmark Bancorp reported diluted earnings per share of $0.72 for Q3 2024, a 30.5% increase from the prior quarter and a 36.5% increase year-over-year[1]. - Net earnings for Q3 2024 reached $3.9 million, up from $3.0 million in Q2 2024 and $2.9 million in Q3 2023, reflecting a 30.5% quarter-over-quarter growth and a 36.6% year-over-year growth[1][3]. - Basic earnings per share rose to $0.72, up from $0.55 in the previous quarter, marking a 30.9% increase[19]. - Net earnings for the quarter were $3,931,000, representing an increase of 30.6% from $3,012,000 in the previous quarter[19]. Loan and Deposit Growth - Total loans increased by $21.3 million, or 8.6% annualized, driven by strong growth in residential mortgage, agriculture, and commercial real estate loans[3]. - As of September 30, 2024, gross loans totaled $1.0 billion, with a loan-to-deposit ratio of 77.6%[10][11]. - Total deposits rose to $1,275,502 thousand, compared to $1,250,482 thousand in the prior quarter, marking an increase of 2.00%[17]. - The net loans increased to $990,242 thousand from $969,089 thousand, showing a growth of 2.37%[17]. Income and Expenses - Net interest income grew by 5.7% to $11.6 million, with a net interest margin expanding to 3.30% from 3.21% in the prior quarter[6]. - Total interest income for the three months ended September 30, 2024, was $19,022,000, an increase of 4.6% from $18,180,000 in the previous quarter[19]. - Non-interest income totaled $4.3 million, an increase of $533,000, or 14.3%, from the previous quarter, primarily due to higher fees and a gain on the sale of a former branch[7]. - Total non-interest expense decreased to $10,559,000 from $11,095,000 in the previous quarter, a reduction of 4.8%[19]. Asset Management - Total assets as of September 30, 2024, increased to $1,563,651 thousand from $1,560,754 thousand as of June 30, 2024, reflecting a growth of 0.12%[17]. - Total gross loans reached $1,001,849 thousand, up from $980,575 thousand in the previous quarter, representing a growth of 2.73%[17]. - Cash and cash equivalents decreased to $21,211 thousand from $23,889 thousand, a decline of 11.16%[17]. - Investment securities available-for-sale totaled $411,012 thousand, down from $420,459 thousand, a decrease of 1.06%[17]. Equity and Capital - Stockholders' equity increased to $139.7 million, with a book value of $25.39 per share, up from $128.3 million and $23.45 per share in the prior quarter[12]. - The common stock remained stable at $55, with additional paid-in capital increasing to $89,532 thousand from $89,469 thousand[17]. - Retained earnings increased to $60,549 thousand from $57,774 thousand, reflecting a growth of 4.83%[17]. - Total stockholders' equity rose to $139,691 million, up from $128,254 million[24]. Credit Quality - The allowance for credit losses was $11.5 million, or 1.15% of total gross loans, with a provision for credit losses of $500,000 recorded in Q3 2024[13]. - Non-performing loans rose to $13.4 million, or 1.34% of gross loans, compared to $5.0 million, or 0.51% of gross loans in the prior quarter[14]. - Total non-performing assets increased to $13,843 thousand, up from $5,435 thousand[21]. - Loans 30-89 days delinquent rose to $7,301 thousand, compared to $1,872 thousand previously[21]. Efficiency and Returns - Return on average assets increased to 1.00% for September 30, 2024, compared to 0.78% for June 30, 2024[20]. - Return on average equity improved to 11.82% for September 30, 2024, up from 9.72% for June 30, 2024[20]. - The efficiency ratio improved to 66.5% for September 30, 2024, down from 67.9% for June 30, 2024[20]. - Tangible equity increased to $104,585 million, compared to $92,977 million previously[24].

Financial Performance - Net earnings for Q2 2024 were $3.0 million, a decrease of $350,000 or 10.4% from Q2 2023's $3.4 million[83]. - Total non-interest income decreased by $109,000, or 2.9%, to $3.7 million in the second quarter of 2024, primarily due to a decrease in gains on sales of loans[100]. - Non-interest expense increased by $746,000, or 7.2%, to $11.1 million in the second quarter of 2024, mainly due to higher other non-interest expenses[102]. - The provision for credit losses for the first six months of 2024 was $300,000, compared to $299,000 in the same period of 2023[98]. - The company reported a return on average assets of 0.78% for Q2 2024, down from 0.88% in Q2 2023[83]. Interest Income and Expenses - Interest income for Q2 2024 increased by $2.4 million, or 14.9%, to $18.2 million compared to Q2 2023[84]. - Interest income on loans rose by $2.4 million, or 19.0%, to $15.0 million in Q2 2024, driven by higher yields and average balances[84]. - Interest expense for Q2 2024 increased by $2.2 million to $7.2 million, with interest-bearing deposits rising from 1.57% in Q2 2023 to 2.44% in Q2 2024[87]. - Net interest income for Q2 2024 increased by $141,000, or 1.3%, to $11.0 million compared to Q2 2023[89]. - The net interest margin for Q2 2024 remained stable at 3.21%, the same as in Q2 2023[89]. Assets and Liabilities - Total assets increased, with average loan balances rising from $873.9 million in Q2 2023 to $955.1 million in Q2 2024[84]. - The company reported a total of $1,550,739 in assets as of June 30, 2024, compared to $1,518,373 in the previous year[94]. - Total deposits decreased by $65.8 million, or 5.0%, to $1.3 billion at June 30, 2024[112]. - Non-interest-bearing deposits were $360.6 million, or 28.8% of total deposits, at June 30, 2024[113]. - Total borrowings increased by $62.7 million to $161.7 million at June 30, 2024, primarily due to an increase in FHLB borrowings[115]. Capital and Dividends - The dividend payout ratio for Q2 2024 was 38.18%, up from 32.31% in Q2 2023[83]. - A quarterly cash dividend of $0.21 per share was paid to stockholders during the quarter ended June 30, 2024[123]. - The company met all capital adequacy requirements as of June 30, 2024, and is considered "well capitalized" under regulatory standards[123]. - Approximately $1.3 million was available to be paid as dividends to the company by the bank without prior regulatory approval as of June 30, 2024[124]. Interest Rate and Sensitivity - The interest rate spread decreased to 2.51%, compared to 2.65% in the previous year[92]. - Interest rate sensitivity simulations indicated a potential decrease in net interest income of 15.0% with a 300 basis point rise in interest rates[128]. Credit Quality - The allowance for credit losses on loans was $10.9 million, or 1.11% of gross loans outstanding, as of June 30, 2024[107]. - Outstanding loan commitments, excluding standby letters of credit, amounted to $211.1 million as of June 30, 2024[121]. - The company had $125.3 million borrowed on its line of credit with the FHLB as of June 30, 2024, with additional borrowing capacity of $256.9 million[119].