Landmark Bancorp Reports Increase in Net Earnings and Declares Dividends

Landmark Bancorp, Inc. (NASDAQ: LARK) recently announced its financial results for the third quarter of 2024. The company reported a 30.5% increase in net earnings, with diluted earnings per share reaching $0.72 for the quarter. Net earnings for the third quarter amounted to $3.9 million, showing growth compared to the previous quarter and the same quarter last year. The company’s return on average assets was 1.00%, with a return on average equity of 11.82% and an efficiency ratio of 66.5%.

During the first nine months of 2024, Landmark Bancorp reported diluted earnings per share of $1.77 and net earnings of $9.7 million. The return on average assets for the nine-month period was 0.84%, while the return on average equity stood at 10.18% with an efficiency ratio of 68.8%.

Abby Wendel, President and CEO of Landmark, highlighted the strong performance in the third quarter, attributing the growth in earnings to various factors including an increase in loans, margin expansion, and higher non-interest income.

The company’s Board of Directors approved a cash dividend of $0.21 per share and a 5% stock dividend. The cash dividend will be paid to stockholders of record as of November 13, 2024, and the stock dividend will be issued on December 16, 2024, to common stockholders of record on December 2, 2024.

The financial results were discussed in detail, including the increase in net interest income, growth in non-interest income, and a decrease in non-interest expenses. Detailed information on the balance sheet highlights, including loan growth, deposit balances, and stockholders’ equity, was also provided.

Landmark Bancorp will host a conference call to further discuss its financial results on October 31, 2024. Investors can participate in the call to gain more insights into the company’s performance and outlook.

For more information about Landmark Bancorp and its services, visit their website at www.banklandmark.com.

This press release contains forward-looking statements that are subject to various risks and uncertainties. Investors are advised to consider these factors when evaluating the company’s future performance. Landmark undertakes no obligation to update any forward-looking statements made in this release.

The company’s filings with the Securities and Exchange Commission contain additional information about Landmark Bancorp and its business operations.

Contact:
Mark A. Herpich
Chief Financial Officer
Phone: (785) 565-2000

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Landmark Bancorp’s 8K filing here.

About Landmark Bancorp

Landmark Bancorp, Inc operates as the financial holding company for Landmark National Bank that provides various financial and banking services to its local communities. It offers non-interest bearing demand, money market, checking, and savings accounts, as well as certificates of deposit. The company also provides one-to-four family residential real estate, construction and land, commercial real estate, commercial, paycheck protection program, municipal, and agriculture loans; and consumer and other loans, such as automobile, boat, and home improvement and home equity loans, as well as insurance, and mobile and online banking services.