$LARK
LANDMARK BANCORP INC
CIK:0001141688|SEC Filings
Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Interest income: | ||||||||||
| Loans | $ 17,147 | $ 17,186 | $ 34,407 | $ 33,581 | ||||||
| Investment securities: | ||||||||||
| Taxable | 2,482 | 2,163 | 4,816 | 4,343 | ||||||
| Tax-exempt | 571 | 701 | 1,166 | 1,420 | ||||||
| Interest-bearing deposits at banks | 51 | 48 | 110 | 96 | ||||||
| Total interest income | 20,251 | 20,098 | 40,499 | 39,440 | ||||||
| Interest expense: | ||||||||||
| Deposits | 4,349 | 5,144 | 8,960 | 10,380 | ||||||
| Federal Home Loan Bank and other borrowings | 484 | 861 | 761 | 1,426 | ||||||
| Subordinated debentures | 324 | 358 | 646 | 715 | ||||||
| Repurchase agreements | 14 | 52 | 29 | 117 | ||||||
| Total interest expense | 5,171 | 6,415 | 10,396 | 12,638 | ||||||
| Net interest income | 15,080 | 13,683 | 30,103 | 26,802 | ||||||
| Provision for credit losses | 500 | 1,000 | 1,070 | 1,000 | ||||||
| Net interest income after provision for credit losses | 14,580 | 12,683 | 29,033 | 25,802 | ||||||
| Non-interest income: | ||||||||||
| Fees and service charges | 2,451 | 2,476 | 4,814 | 4,864 | ||||||
| Gains on sales of loans, net | [1] | 1,241 | 740 | 2,126 | 1,302 | |||||
| Increase in cash surrender value of bank owned life insurance | [1] | 285 | 278 | 658 | 550 | |||||
| Losses on sales of investment securities, net | (2) | |||||||||
| Other | 118 | 132 | 261 | 270 | ||||||
| Total non-interest income | 4,095 | 3,626 | 7,859 | 6,984 | ||||||
| Non-interest expense: | ||||||||||
| Compensation and benefits | 6,569 | 6,234 | 12,892 | 12,388 | ||||||
| Occupancy and equipment | 1,207 | 1,244 | 2,657 | 2,496 | ||||||
| Data processing | 494 | 629 | 1,048 | 1,025 | ||||||
| Amortization of mortgage servicing rights and other intangibles | 225 | 238 | 453 | 477 | ||||||
| Professional fees | 1,251 | 540 | 2,015 | 1,285 | ||||||
| Other | 2,215 | 2,076 | 4,794 | 4,051 | ||||||
| Total non-interest expense | 11,961 | 10,961 | 23,859 | 21,722 | ||||||
| Earnings before income taxes | 6,714 | 5,348 | 13,033 | 11,064 | ||||||
| Income tax expense | 1,322 | 944 | 2,575 | 1,959 | ||||||
| Net earnings | $ 5,392 | $ 4,404 | $ 10,458 | $ 9,105 | ||||||
| Earnings per share: | ||||||||||
| Basic | [2],[3] | $ 0.88 | $ 0.73 | $ 1.72 | $ 1.50 | |||||
| Diluted | [2],[3] | 0.88 | 0.72 | 1.70 | 1.49 | |||||
| Dividends per share | [2] | $ 0.21 | $ 0.20 | $ 0.42 | $ 0.40 | |||||
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Consolidated Balance Sheets - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 26,277 | $ 20,982 |
| Interest-bearing deposits at other banks | 5,935 | 3,218 |
| Investment securities available-for-sale, at fair value | 340,808 | 348,157 |
| Investment securities, held-to-maturity, net of allowance for credit losses of $91 and $91, fair value of $3,550 and $3,477 | 3,847 | 3,789 |
| Bank stocks, at cost | 8,079 | 5,756 |
| Loans, net of allowance for credit losses of $12,657 and $12,458 | 1,089,705 | 1,098,393 |
| Loans held for sale, at fair value | 3,740 | 5,141 |
| Bank owned life insurance | 40,572 | 40,176 |
| Premises and equipment, net | 18,907 | 19,325 |
| Goodwill | 32,377 | 32,377 |
| Other intangible assets, net | 1,725 | 1,990 |
| Mortgage servicing rights | 3,336 | 3,189 |
| Accrued interest and other assets | 31,208 | 24,149 |
| Total assets | 1,606,516 | 1,606,642 |
| Deposits: | ||
| Non-interest-bearing demand | 380,543 | 364,695 |
| Money market and checking | 596,083 | 650,987 |
| Savings | 150,961 | 151,406 |
| Certificates of deposit | 177,401 | 221,766 |
| Total deposits | 1,304,988 | 1,388,854 |
| Federal Home Loan Bank and other borrowings | 83,415 | 10,567 |
| Subordinated debentures | 21,651 | 21,651 |
| Repurchase agreements | 1,599 | 1,501 |
| Accrued interest and other liabilities | 28,005 | 23,438 |
| Total liabilities | 1,439,658 | 1,446,011 |
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued | ||
| Common stock, $0.01 par value per share, 10,000,000 and 7,500,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 6,100,582 and 6,074,381 shares issued at June 30, 2026 and December 31, 2025, respectively | 61 | 61 |
| Additional paid-in capital | 102,810 | 102,597 |
| Retained earnings | 71,561 | 63,658 |
| Accumulated other comprehensive loss | (7,574) | (5,685) |
| Total stockholders’ equity | 166,858 | 160,631 |
| Total liabilities and stockholders’ equity | $ 1,606,516 | $ 1,606,642 |