Landmark Bancorp, Inc. Announces Third Quarter 2025 Earnings per Share of $0.85. Declares Cash Dividend of $0.21 per Share and 5% Stock Dividend

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]