Landmark Bancorp Inc

NASDAQ:LARKUnited States

Oct 30, 2024

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• *DJ Landmark Bancorp 3Q EPS 72c >LARK, from 4:29PM ET on Wednesday Oct 30, 2024 by Dow Jones

  4:29PM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: LARK

• Landmark Bancorp, Inc. Announces 30.5% Increase in Third Quarter Net Earnings and Earnings Per Share of $0.72. Declares Cash Dividend of $0.21 per Share and 5% Stock Dividend, from 4:27PM ET on Wednesday Oct 30, 2024 by Dow Jones

  4:27PM ET on Wednesday Oct 30, 2024 by Dow Jones
  Companies Mentioned: LARK
  Interest-bearing deposits 2.48% 2.44% 1.93% 2.42% 1.57% FHLB and other borrowings 5.61% 5.67% 5.55% 5.65% 5.37% Subordinated debentures 7.64% 7.76% 7.64% 7.69% 7.21% Repurchase agreements 2.66% 3.07% 2.99% 2.92% 2.71% Total interest-bearing liabilities 2.82% 2.78% 2.38% 2.77% 1.98% Capital ratios: Equity to total assets 8.93% 8.22% 7.03% Tangible equity to tangible assets (3) 6.84% 6.09% 4.85% Book value per share $ 25.39 $ 23.45 $ 19.99 Tangible book value per share (3) $ 19.01 $ 17.00 $ 13.46 Rollforward of allowance for credit losses (loans): Beginning balance $ 10,903 $ 10,851 $ 10,449 $ 10,608 $ 8,791 Adoption of CECL - - - - 1,523 Charge-offs (153) (119) (142) (413) (408) Recoveries 144 171 663 449 814 Provision for credit losses for loans 650 - - 900 250 --------- --------- --------- --------- --------- Ending balance $ 11,544 $ 10,903 $ 10,970 $ 11,544 $ 10,970 ========= ========= ========= ========= ========= Allowance for unfunded loan commitments $ 150 $ 300 $ 200 Non-performing assets: Non-accrual loans $ 13,415 $ 5,007 $ 4,440 Accruing loans over 90 days past due - - - Real estate owned 428 428 934 --------- --------- --------- Total non-performing assets $ 13,843 $ 5,435 $ 5,374 ========= ========= ========= Loans 30-89 days delinquent $ 7,301 $ 1,872 $ 6,173 Other ratios: Loans to deposits 77.64% 77.50% 70.80% Loans 30-89 days delinquent and still accruing to gross loans outstanding 0.73% 0.19% 0.66% Total non-performing loans to gross loans outstanding 1.34% 0.51% 0.47% Total non-performing assets to total assets 0.89% 0.35% 0.35% Allowance for credit losses to gross loans outstanding 1.15% 1.11% 1.17% Allowance for credit losses to total non-performing loans 86.05% 217.76% 247.07% Net loan charge-offs to average loans (1) 0.00% -0.02% -0.23% 0.00% -0.06% (1) Information is annualized. (2 ) Net interest margin is presented on a fully tax equivalent basis, using a 21% federal tax rate. (3 ) Non-GAAP financial measures. See the "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most comparable GAAP equivalent.