Core Viewpoint - Landmark Bancorp (LARK) has shown strong earnings growth and expanding margins, leading to a 3% increase in share price following the release of its fourth-quarter 2025 results [1] Banking Operations of Landmark Bancorp - Landmark Bancorp operates as the holding company for Landmark National Bank, focusing on community banking services in Kansas, with performance driven by net interest income, loan growth, and deposit trends [1] - In 2025, the company experienced higher asset yields, lower funding costs, and steady loan production, indicating robust balance sheet strength [1] Q4 Earnings - Landmark reported a net income of $4.7 million, or 77 cents per diluted share, compared to $3.3 million, or 54 cents per share, in the same quarter last year [2] - For the full year 2025, net earnings rose 44.4% year over year to $18.8 million, with diluted earnings per share increasing to $3.07 from $2.15 in 2024 [2] Net Interest Income - Net interest income for the fourth quarter reached $14.8 million, marking a 19.3% increase from the previous year [3] - The net interest margin expanded to 4.03%, reflecting a 52-basis-point improvement year over year and a 20-basis-point increase sequentially [3] - Total revenues increased by 2.9% to $18.7 million compared to the prior quarter [3] Loan & Deposit Trends - As of December 31, 2025, gross loans totaled $1.1 billion, slightly down from the prior quarter due to lower commercial and residential balances, but partially offset by growth in commercial real estate and agriculture loans [4] - Average loans for the full year grew by 11.5%, primarily driven by commercial real estate and residential mortgage production [4] Deposits - Total deposits increased by $63.4 million in the quarter to $1.4 billion, mainly due to growth in money market and checking accounts [5] - The loan-to-deposit ratio stood at 79.1% at year-end [5] Asset Quality & Capital Position - Non-performing loans totaled $10 million, or 0.90% of gross loans, at year-end [6] - The allowance for credit losses was $12.5 million, representing 1.12% of total gross loans [6] - Capital levels remained solid, with tangible common equity to tangible assets improving to 8.03% from 7.66% in the prior quarter [6] - Book value per share increased to $26.44, while tangible book value per share rose to $20.79 [6] Dividend Announcement - Landmark's board declared a quarterly cash dividend of 21 cents per share, payable on February 26, 2026, to shareholders of record as of February 12, 2026 [7] - Overall, Landmark Bancorp demonstrated strong year-over-year earnings growth in the fourth quarter, supported by margin expansion, steady loan production, and disciplined cost control [7]