Landmark Bancorp, Inc. (NASDAQ:LARK) Q3 2021 Earnings Conference Call October 28, 2021 11:11 AM ET Company Participants Michael Scheopner - President and Chief Executive Officer Mark Herpich - Chief Financial Officer Conference Call Participants Ross Haberman - RLH Investments Michael Scheopner Thank you and good morning. Thank you for joining our call today to discuss Landmark's Earnings and Results of Operations for the Third Quarter and Year-to-Date 2021. Joining the call with me to discuss various aspe ...

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 June 30, 2021 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) (State or other jurisdiction of incorpor ...

Landmark Bancorp, Inc. (NASDAQ:LARK) Q2 2021 Earnings Conference Call July 28, 2021 11:00 AM ET Company Participants Michael Scheopner - President, CEO & Director Mark Herpich - VP, Secretary, CFO & Treasurer Conference Call Participants John Rodis - Janney Montgomery Scott Operator Good morning and welcome to the Landmark Bancorp Second Quarter 2021 Earnings Call. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Michael Scheopner, President ...

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 March 31, 2021 OR Commission File Number 0-33203 (Address of principal executive offices) (Zip code) (785) 565-2000 LANDMARK BANCORP, INC. (Exact name of registrant as specified in its charter) Delaware 43-1930755 (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO ...

Landmark Bancorp, Inc. (NASDAQ:LARK) Q1 2021 Earnings Conference Call May 5, 2021 11:00 AM ET Company Participants Michael Scheopner - President & Chief Executive Officer Mark Herpich - Chief Financial Officer Raymond McClanahan - Chief Credit Officer Conference Call Participants John Rodis - Janney Operator Good day, and welcome to the Landmark Bancorp Q1 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to Michael ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2020 OR (785) 565-2000 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For 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) Q4 2020 Earnings Conference Call February 3, 2021 11:00 AM ET Company Participants Michael Scheopner - President & Chief Executive Officer Mark Herpich - Chief Financial Officer Conference Call Participants John Rodis - Janney Operator Good day, and welcome to the Landmark Bancorp Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to Michael Scheopner. Please go ...

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, 2020 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) (State or other jurisdiction of inc ...

Landmark Bancorp, Inc. (NASDAQ:LARK) Q3 2020 Earnings Conference Call October 28, 2020 11:00 AM ET Company Participants Michael Scheopner - President, CEO & Director Mark Herpich - VP, Secretary, CFO & Treasurer Conference Call Participants Operator Good day, and welcome to the Landmark Bancorp Q3 Earnings call. [Operator Instructions]. Please note, this event is being recorded. I would like now to turn the conference over to Michael Scheopner. Please go ahead. Michael Scheopner Thank you, and good morning. ...

PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited financial statements show a significant increase in total assets to $1.12 billion and a 77% rise in net earnings, driven by PPP loans and gains on loan sales Consolidated Balance Sheet Highlights (Unaudited) | (In thousands) | June 30, 2020 | December 31, 2019 | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | **$1,118,937** | **$998,465** | **+12.1%** | | Loans, net | $689,626 | $532,180 | +29.6% | | - Paycheck Protection Program Loans | $130,137 | $0 | N/A | | Investment securities available-for-sale | $306,825 | $362,998 | -15.5% | | **Total Liabilities** | **$1,001,657** | **$889,858** | **+12.6%** | | Total Deposits | $944,204 | $835,048 | +13.1% | | - Non-interest-bearing demand | $277,574 | $182,717 | +51.9% | | **Total Stockholders' Equity** | **$117,280** | **$108,607** | **+8.0%** | Consolidated Earnings Highlights (Unaudited) | (In thousands, except per share) | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | $17,117 | $14,677 | +16.6% | | Provision for loan losses | $1,600 | $600 | +166.7% | | Non-interest Income | $12,325 | $7,244 | +70.1% | | - Gains on sales of loans, net | $6,017 | $2,862 | +110.2% | | **Net Earnings** | **$8,463** | **$4,781** | **+77.0%** | | **Diluted EPS** | **$1.86** | **$1.04** | **+78.8%** | Consolidated Cash Flow Highlights (Unaudited) | (In thousands) | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(2,468) | $(5,260) | | Net cash used in investing activities | $(95,705) | $(5,127) | | Net cash provided by financing activities | $102,666 | $5,572 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key notes highlight the impact of COVID-19, including PPP loan growth, increased loan loss provisions, and loan modifications under the CARES Act - The company originated **$130.1 million** in Paycheck Protection Program (PPP) loans as of June 30, 2020[31](index=31&type=chunk) - Impaired loans increased from $8.7 million at year-end 2019 to **$11.9 million** at June 30, 2020[33](index=33&type=chunk) - As of June 30, 2020, the company had 135 loan modifications totaling **$54.7 million** related to the COVID-19 pandemic, which are not classified as TDRs per regulatory guidance[43](index=43&type=chunk) - Goodwill was tested for impairment as of March 31, 2020, due to a triggering event (COVID-19) and was **not found to be impaired**[44](index=44&type=chunk) - The company, as a smaller reporting company, plans to delay the implementation of the CECL accounting standard until **January 1, 2023**[82](index=82&type=chunk) Company Regulatory Capital Ratios (June 30, 2020) | Capital Ratio | Actual Ratio | Minimum for Capital Adequacy (incl. buffer) | | :--- | :--- | :--- | | Common Equity Tier 1 | 13.14% | 7.0% | | Tier 1 Capital | 16.19% | 8.5% | | Total Risk Based Capital | 17.33% | 10.5% | | Leverage | 10.41% | 4.0% | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to higher loan sale gains and PPP loan volume, while increasing provisions for COVID-19 related economic impacts - The company's response to the COVID-19 pandemic included funding 1,035 PPP loans totaling approximately **$130.1 million** and offering loan forbearance and modifications to impacted customers[99](index=99&type=chunk) - The increase in provision for loan losses to **$1.6 million** for the first six months of 2020 (from $600,000 in 2019) was primarily due to the estimated economic impact of the COVID-19 pandemic[116](index=116&type=chunk) - Total assets increased by **$120.5 million (12.1%) to $1.1 billion**, primarily driven by PPP loan originations; total deposits increased by **$109.2 million (13.1%)**, largely due to PPP funds and government stimulus[124](index=124&type=chunk)[131](index=131&type=chunk) Key Performance Ratios (Annualized) | Ratio | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Return on average assets | 1.62% | 0.98% | | Return on average equity | 15.22% | 10.08% | | Net interest margin | 3.69% | 3.42% | [Financial Condition and Asset Quality](index=38&type=section&id=Financial%20Condition%20and%20Asset%20Quality) Total assets reached $1.1 billion due to PPP loans, though asset quality showed stress with increased classified and non-accrual loans - The increase in classified loans was primarily attributed to the impact of **COVID-19** and continued weakness in the **agriculture industry**[126](index=126&type=chunk) Asset Quality Indicators | (In thousands) | June 30, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | Classified Loans | $26,013 | $18,117 | | Non-accrual Loans | $8,245 | $5,546 | | % of Gross Loans | 1.18% | 1.03% | | Impaired Loans | $11,908 | $8,680 | | Allowance for Loan Losses | $7,747 | $6,467 | COVID-19 Loan Modifications by Industry (June 30, 2020) | (In thousands) | Commercial Real Estate | Commercial | Other | Total | | :--- | :--- | :--- | :--- | :--- | | Accommodations and hotels | $9,920 | $0 | $0 | $9,920 | | Real estate rental (non-owner) | $8,511 | $0 | $4,720 | $13,231 | | Restaurants | $3,779 | $820 | $0 | $4,599 | | **Total Modifications** | **$33,786** | **$6,728** | **$14,196** | **$54,710** | [Liquidity and Capital](index=40&type=section&id=Liquidity%20and%20Capital) The company maintained a strong liquidity position and robust capital levels, remaining 'well capitalized' while continuing its quarterly dividend - Liquid assets (cash and AFS securities) totaled **$325.0 million** at June 30, 2020[136](index=136&type=chunk) - The company has significant available credit, including **$67.2 million** from FHLB, **$107.3 million** from the Federal Reserve discount window, and **$30.0 million** from correspondent banks[137](index=137&type=chunk) - Both the Company and the Bank met all capital adequacy requirements to be deemed **'well capitalized'** as of June 30, 2020[142](index=142&type=chunk) - A quarterly cash dividend of **$0.20 per share** was paid during Q2 2020[144](index=144&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate risk, with models showing minimal impact on net interest income from a 100 basis point rate change Interest Rate Sensitivity Analysis (12-Month Horizon) | Scenario | Dollar Change in Net Interest Income ($000s) | Percent Change in Net Interest Income | | :--- | :--- | :--- | | +200 basis points | $81 | 0.2% | | +100 basis points | $(127) | (0.4%) | | -100 basis points | $58 | 0.2% | [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls during the quarter - The Company's management, including the CEO and CFO, concluded that disclosure controls and procedures were **effective** as of June 30, 2020[163](index=163&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter ended June 30, 2020, that materially affected or are reasonably likely to materially affect the controls[164](index=164&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is not party to any material legal proceedings outside of ordinary routine litigation - There are **no material pending legal proceedings** against the Company or its subsidiaries outside of ordinary routine litigation[167](index=167&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) The COVID-19 pandemic is identified as a significant new risk factor, potentially impacting the economy, customers, and company operations - A new risk factor has been added regarding the adverse impact of the **COVID-19 pandemic** on the economy, customers, and company operations[168](index=168&type=chunk) - The pandemic is expected to cause disruptions leading to **decreased earnings, loan defaults, and potential material losses** in the loan portfolio[169](index=169&type=chunk)[173](index=173&type=chunk) - Borrowers in the **retail, restaurant, hospitality, and agriculture industries** are identified as being particularly vulnerable, which could lead to increased loan defaults[170](index=170&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 15,757 shares during the quarter as part of its publicly announced stock repurchase programs - As of June 30, 2020, **227,002 shares** may yet be purchased under the company's announced stock repurchase plans[174](index=174&type=chunk) Share Repurchases for Q2 2020 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 1-30, 2020 | 15,757 | $20.73 | | May 1-31, 2020 | - | - | | June 1-30, 2020 | - | - | | **Total** | **15,757** | **$20.73** | [Defaults Upon Senior Securities](index=48&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - There were **no defaults** upon senior securities[175](index=175&type=chunk) [Mine Safety Disclosures](index=48&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[176](index=176&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No other information was reported for the period - No other information was reported[177](index=177&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) The report includes required CEO/CFO certifications and Interactive Data Files as exhibits - Exhibits filed include **CEO/CFO certifications** and **Interactive Data Files (Inline XBRL)**[178](index=178&type=chunk)