Landmark Bancorp, Inc. Announces Second Quarter 2025 Earnings per Share of $0.75 Declares Cash Dividend of $0.21 per Share

Core Viewpoint - Landmark Bancorp, Inc. reported strong financial performance for the second quarter of 2025, with significant growth in net earnings driven by increased loan demand and net interest income, despite a decrease in total deposits [4][6]. Financial Performance - Diluted earnings per share for Q2 2025 were $0.75, down from $0.81 in Q1 2025 but up from $0.52 in Q2 2024 [1]. - Net earnings for Q2 2025 totaled $4.4 million, compared to $4.7 million in the previous quarter and $3.0 million in the same quarter of the prior year [1]. - For the first six months of 2025, diluted earnings per share were $1.56, up from $1.01 during the same period in 2024 [2]. Key Ratios - Return on average assets for Q2 2025 was 1.11%, and return on average equity was 12.25% [1][28]. - The efficiency ratio improved to 62.8% in Q2 2025 from 64.1% in Q1 2025 [28]. Loan and Deposit Growth - Total gross loans increased by $42.9 million, or 16.0% annualized, in Q2 2025 [4][7]. - Despite a decrease in total deposits of $61.9 million from the previous quarter, year-over-year growth in deposits was $23.4 million, or 1.9% [4][13]. Net Interest Income - Net interest income for Q2 2025 was $13.7 million, an increase of $564,000, or 4.3%, from the previous quarter and an increase of $2.7 million, or 24.7%, from the same quarter of the prior year [6][25]. - The net interest margin increased to 3.83% in Q2 2025 from 3.76% in Q1 2025 [7][28]. Non-Interest Income and Expenses - Non-interest income for Q2 2025 totaled $3.6 million, an increase of $268,000 from the previous quarter [9]. - Non-interest expenses were $11.0 million, an increase of $200,000, or 1.9%, compared to the prior quarter [10]. Credit Quality - Credit quality remained stable with minimal net charge-offs totaling $40,000 in Q2 2025 [7][15]. - The allowance for credit losses was $13.8 million, or 1.23% of total gross loans, as of June 30, 2025 [15]. Dividend Declaration - The Board of Directors declared a cash dividend of $0.21 per share, payable on August 27, 2025 [4].