Financial Data and Key Metrics Changes - Net income for Q1 2025 totaled $4,700,000, a significant increase from $2,800,000 in the same period last year, representing a growth of 68% [4][8] - Diluted earnings per share rose to $0.81, marking a 69% increase year-over-year [4] - Return on average assets was 1.21% and return on average equity was 13.71% [4] - Efficiency ratio improved to 64.1% in Q1 2025 [4] Business Line Data and Key Metrics Changes - Total gross loans increased by $22,600,000 or 8.7% on an annualized basis, reaching nearly $1,100,000,000 [5][12] - Loan growth was primarily driven by commercial real estate and construction loans, which increased by $14,400,000 and $3,300,000 respectively [13][17] - Non-interest income totaled $3,400,000, a slight decline compared to the previous quarter [11] Market Data and Key Metrics Changes - Deposits totaled $1,300,000,000 at the end of Q1 2025, with an increase of $7,100,000 during the quarter [13] - Interest checking and money market deposits declined by $23,500,000, while non-interest checking increased by $16,900,000 [14] Company Strategy and Development Direction - The company remains focused on serving business owners across Kansas, emphasizing relationship banking [5] - There is a commitment to maintaining solid credit quality amid economic uncertainties [21] - The company aims to strengthen existing customer relationships and grow lending and fee businesses across all markets [21] Management Comments on Operating Environment and Future Outlook - Management noted a general level of uncertainty among customers but expressed confidence that uncertainties will resolve over time [20] - The economic landscape in Kansas is described as healthy, with an unemployment rate of 3.8% [19] - The company is well-positioned for future growth due to its operational success and high-quality banking products [21] Other Important Information - The Board of Directors declared a cash dividend of $0.21 per share, marking the 95th consecutive quarterly cash dividend since the company's formation [6] - The allowance for credit losses stood at $12,800,000, representing 1.19% of gross loans [11][19] Q&A Session Summary Question: No questions were asked during the Q&A session - There were no questions from participants during the call, leading to a prompt conclusion of the session [24]

Exhibit 99.1 Landmark's Board of Directors declared a cash dividend of $0.21 per share, to be paid June 4, 2025, to common stockholders of record as of the close of business on May 21, 2025. Management will host a conference call to discuss the Company's financial results at 9:30 a.m. (Central time) on Thursday, May 1, 2025. Investors may participate via telephone by dialing (833) 470-1428 and using access code 866149. A replay of the call will be available through May 8, 2025, by dialing (866) 813-9403 and ...

Manhattan, KS, April 30, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.81 for the three months ended March 31, 2025, compared to $0.57 per share in the fourth quarter of 2024 and $0.48 per share in the same quarter last year. Net income for the first quarter totaled $4.7 million, compared to $3.3 million in the prior quarter and $2.8 million in the first quarter of 2024. For the three months ended March 31, 2025, the return on average as ...

Manhattan, KS, April 24, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the first quarter of 2025 after the market closes on Wednesday, April 30, 2025. The Company will host a conference call to discuss these results on Thursday, May 1, 2025 at 9:30 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 866149. Investors are encouraged to call the dial-in number at least 5 minutes ...

Interest Income and Loans - Interest income increased by $9,171 thousand in 2024 compared to 2023, driven by a $9,645 thousand increase in loans[113] - The average balance of loans receivable increased to $974,294 thousand in 2024, with a yield of 6.30%[116] - As of December 31, 2024, total gross loans increased to $1,052,353,000 from $948,656,000 in 2023, representing an increase of approximately 10.95%[122] - One-to-four family residential real estate loans increased to $352,209,000 in 2024 from $302,544,000 in 2023, showing growth in this segment[122] - As of December 31, 2024, total loans amounted to $12,825 million, a 20.8% increase from $10,608 million in 2023[132] Interest Expense and Net Interest Income - Net interest income for 2024 was $45,724 thousand, up from $43,292 thousand in 2023, reflecting a net interest margin of 3.28%[116] - Interest expense rose to $28,175 thousand in 2024, compared to $21,391 thousand in 2023, primarily due to higher costs associated with deposits[116] - The company's interest rate spread remained stable at 2.58% for both 2024 and 2023[117] - The average balance of interest-earning assets increased to $1,413,525 thousand in 2024, with an overall yield of 5.28%[116] - The total interest-bearing liabilities increased to $1,042,316 thousand in 2024, with a cost of 2.70%[116] Credit Quality and Allowance for Credit Losses - Non-accrual loans rose significantly to $13,115,000 in 2024 from $2,391,000 in 2023, indicating a substantial increase in credit risk[125] - The allowance for credit losses increased to $12,825,000 in 2024, up from $10,608,000 in 2023, reflecting a proactive approach to managing potential loan losses[129] - The ratio of allowance for credit losses to total gross loans was 1.22% as of December 31, 2024, compared to 1.12% in 2023[125] - The company recorded net loan charge-offs of $183,000 in 2024, contrasting with net loan recoveries of $44,000 in 2023, indicating a shift in credit performance[129] - The total non-performing assets increased to $13,282,000 in 2024 from $3,319,000 in 2023, highlighting a deterioration in asset quality[125] Deposits and Funding - Average deposit balances increased to $1,301,094 thousand in 2024 from $1,285,821 thousand in 2023, with a notable rise in the average rate paid on certificates of deposit to 4.26% from 3.08%[140] - Total deposits included uninsured deposits of $181.5 million as of December 31, 2024, representing 13.7% of total deposits[140] - The average balance of money market and checking accounts was $589,360 thousand in 2024, with an average rate of 2.31%[140] Financial Ratios and Performance - Return on average assets improved to 0.83% in 2024 from 0.80% in 2023, while return on average equity decreased to 10.01% from 10.70%[144] - The equity to total assets ratio improved to 8.65% in 2024 from 8.13% in 2023[144] - The ratio of average interest-earning assets to average interest-bearing liabilities was 135.6% in 2024, down from 137.9% in 2023[117] Operational and Strategic Risks - The bank faces intense competition from various financial institutions, which could negatively impact loan and deposit amounts, as well as net interest income[187] - The bank's community banking strategy relies heavily on its management team, and the unexpected loss of key managers could adversely affect operations[193] - The bank is susceptible to cybersecurity risks, with increasing electronic fraudulent activity and data breaches in the financial services industry[197] - The company relies heavily on third-party information technology and telecommunications systems, which if disrupted, could adversely affect operations and financial condition[200] - Operational risks include customer or employee fraud and data processing system failures, which could result in financial losses and regulatory sanctions[204] Future Outlook and Challenges - Future bank failures may lead to increased FDIC insurance premiums, adversely affecting the bank's financial condition and dividend payments[180] - The company anticipates needing to raise additional capital for future growth, particularly for acquisitions, but market conditions may affect this ability[208] - The bank's growth strategy includes potential acquisitions, which may expose it to unknown liabilities and integration challenges[185] - Changes in accounting principles and financial reporting standards could materially impact the bank's financial condition and results of operations[183] - The company may face challenges in replacing core banking and information service vendors, potentially leading to increased costs and customer loss[201] Investment and Market Conditions - The trading market for the company's common shares is limited, affecting liquidity and resale potential for shareholders[212] - Stock price volatility may occur due to fluctuations in operating results and broader market conditions, which could negatively impact market price[213] - Potential partnerships with digital asset companies could require significant investment and pose competitive risks[189] - The company had $178.8 million in municipal securities, representing 48.0% of the total securities portfolio as of December 31, 2024[176]

Landmark Bancorp, Inc. (NASDAQ:LARK) Q4 2024 Results Conference Call February 5, 2025 11:00 AM ET Company Participants Abby Wendel - President and Chief Executive Officer Mark Herpich - Chief Financial Officer Raymond McLanahan - Chief Credit Officer Conference Call Participants Ross Haberman - RLH Investments John Rodis - Janney Operator Hello, everyone, and a warm welcome to today's Landmark Bancorp Inc. Fourth Quarter Earnings Call. My name is Seb, and I'll be the operator for your call today. [Operator ...

Financial Performance - Landmark Bancorp reported a 6.3% increase in net earnings for 2024, totaling $13.0 million compared to $12.2 million in 2023[3] - Diluted earnings per share for Q4 2024 were $0.57, down from $0.68 in Q3 2024 but up from $0.46 in Q4 2023[2] - Basic net earnings per share for the year ended December 31, 2024, were $2.26, compared to $2.13 in 2023, reflecting a growth of 6.1%[24] Loan and Deposit Growth - Total gross loans increased by $51 million, or 20% annualized, in Q4 2024, with a total of $1.1 billion in gross loans as of December 31, 2024[5][13] - Total deposits rose by $53.3 million, or 16.6% annualized, reaching $1.3 billion by December 31, 2024[14] - Gross loans reached $1,052,353 thousand in December 2024, up from $948,656 thousand in December 2023, marking a significant increase of 10.9%[21] - Total deposits rose to $1,328,766 thousand in December 2024, compared to $1,316,251 thousand in December 2023, reflecting an increase of 0.4%[21] Interest Income and Expenses - Net interest income for Q4 2024 was $12.4 million, a 6.9% increase from the previous quarter, with a net interest margin improvement to 3.51%[7][8] - Total interest income for the three months ended December 31, 2024, was $18,952,000, an increase from $17,486,000 for the same period in 2023, representing a growth of 8.4%[24] - Net interest income after provision for credit losses for the year ended December 31, 2024, was $43,424,000, compared to $42,943,000 in 2023, reflecting a year-over-year increase of 1.1%[24] - Non-interest expenses increased to $11.9 million in Q4 2024, up $1.3 million from the prior quarter, driven by higher professional fees and compensation costs[11] Non-Interest Income - Non-interest income decreased to $3.4 million in Q4 2024, primarily due to a $1.0 million loss on the sale of investment securities[10] - Non-interest income for the three months ended December 31, 2024, totaled $3,371,000, up from $2,254,000 in the same period of 2023, marking a significant increase of 49.6%[24] - Adjusted non-interest income increased to $4,340,000 from $3,980,000 in September 2024[30] Asset Quality and Credit Losses - The allowance for credit losses was $12.8 million, or 1.22% of total gross loans, with net loan charge-offs of $219,000 in Q4 2024[16] - The provision for credit losses increased to $1,500,000 for the three months ended December 31, 2024, compared to $50,000 in the same period of 2023, indicating a substantial rise in credit loss provisions[24] - Total non-performing assets decreased to $13,282,000 as of December 31, 2024, from $3,319,000 in the same period of 2023, indicating improved asset quality[26] - Total non-performing loans to gross loans outstanding decreased to 1.25% from 1.34%[27] - Allowance for credit losses to gross loans outstanding increased to 1.22% from 1.15%[27] Tax and Dividends - The effective tax rate for Q4 2024 was (37.0%), reflecting the recognition of $1.0 million in previously unrecognized tax benefits[12] - Landmark declared a cash dividend of $0.21 per share, to be paid on March 5, 2025, marking the 24th consecutive year of stock dividends[5] Balance Sheet Highlights - Total assets increased to $1,574,142 thousand in December 2024, up from $1,561,672 thousand in December 2023, representing a growth of 0.8%[21] - The total stockholders' equity was $136,215 thousand in December 2024, a slight decrease from $126,914 thousand in December 2023, reflecting a change of 7.3%[21] - The total liabilities increased to $1,437,927 thousand in December 2024, compared to $1,434,758 thousand in December 2023, showing a marginal increase of 0.2%[21] - Cash and cash equivalents decreased to $20,275 thousand in December 2024 from $27,101 thousand in December 2023, a decline of 25.3%[21] - The investment securities available-for-sale totaled $372,512 thousand in December 2024, down from $452,769 thousand in December 2023, a decrease of 17.7%[21] Efficiency and Returns - The efficiency ratio for the three months ended December 31, 2024, was 70.0%, compared to 71.9% in the same period of 2023, showing improved operational efficiency[26] - Return on average assets for the three months ended December 31, 2024, was 0.83%, an increase from 0.67% in the same period of 2023[26] - Return on average equity for the three months ended December 31, 2024, was 9.54%, down from 9.39% in the same period of 2023[26] - Efficiency ratio improved to 70.0% from 66.5% in the previous quarter[30] - Tangible equity to tangible assets ratio was 6.58%, down from 6.84% in the previous quarter[30]

Core Insights - Landmark Bancorp, Inc. reported diluted earnings per share of $0.57 for Q4 2024, a decrease from $0.68 in Q3 2024 but an increase from $0.46 in Q4 2023 [1] - For the full year 2024, diluted earnings per share increased to $2.26 from $2.13 in 2023, with net earnings rising to $13.0 million, a 6.3% increase from $12.2 million in 2023 [2] Financial Performance - Q4 2024 net income was $3.3 million, compared to $2.6 million in Q4 2023 and $3.9 million in Q3 2024 [1] - The return on average assets for 2024 was 0.83%, and the return on average equity was 10.01% [2][27] - The efficiency ratio improved to 70.0% in Q4 2024 from 71.9% in Q4 2023 [27] Loan and Deposit Growth - Total gross loans increased by $51 million or 20% annualized in Q4 2024, with significant growth in residential mortgages and commercial real estate loans [4] - Total deposits rose by $53 million in Q4 2024, primarily due to seasonal growth in money market and interest checking accounts [4][13] Interest Income and Expenses - Net interest income for Q4 2024 was $12.4 million, a 6.9% increase from the previous quarter, driven by lower interest expenses [6] - The net interest margin improved to 3.51% in Q4 2024 from 3.30% in Q3 2024 [7][27] Non-Interest Income and Expenses - Non-interest income for Q4 2024 totaled $3.4 million, a decrease of $882,000 from the previous quarter, primarily due to a $1.0 million loss on investment securities [9] - Non-interest expenses increased to $11.9 million in Q4 2024, up by $1.3 million from the prior quarter, mainly due to higher professional fees and compensation costs [10] Credit Quality - The allowance for credit losses was $12.8 million, or 1.22% of total gross loans, with net charge-offs totaling $219,000 in Q4 2024 [15] - Non-performing loans decreased to $13.1 million, or 1.25% of gross loans, compared to 1.34% in the previous quarter [16] Dividends and Stockholder Returns - The Board of Directors declared a cash dividend of $0.21 per share, to be paid on March 5, 2025 [4] - A 5% stock dividend was issued on December 16, 2024, marking the 24th consecutive year of stock dividends [4]

Manhattan, KS, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the fourth quarter of 2024 after the market closes on Tuesday, February 4, 2025. The Company will host a conference call to discuss these results on Wednesday, February 5, 2024 at 10:00 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 296482. Investors are encouraged to call the dial-in number at least 5 m ...

Financial Performance - Landmark Bancorp recorded net earnings of $3.9 million for Q3 2024, a 36.6% increase from $2.9 million in Q3 2023[105]. - Basic earnings per share rose to $0.72 in Q3 2024, compared to $0.53 in Q3 2023[106]. - Total non-interest income rose to $4.3 million in Q3 2024, an increase of $601,000 or 16.5% from Q3 2023, primarily driven by higher fees and service charges[121]. - Non-interest expense decreased to $10.6 million in Q3 2024, down by $170,000 or 1.6% compared to Q3 2023, mainly due to lower amortization and professional fees[123]. - The effective tax rate decreased from 18.9% in Q3 2023 to 18.1% in Q3 2024, attributed to increases in tax credits and tax-exempt income[125]. Interest Income and Margin - Interest income for Q3 2024 was $19.0 million, up 13.3% from the same period in 2023, driven by a 17.8% increase in loan interest income to $15.9 million[107]. - The net interest margin improved to 3.30% in Q3 2024 from 3.06% in Q3 2023, reflecting higher yields on interest-earning assets[111]. - Net interest income for the three months ended September 30, 2024, was $11,604 thousand, up from $10,626 thousand in the same period of 2023, representing an increase of 9.2%[114]. - The interest rate spread increased to 2.56% in September 2024, compared to 2.43% in September 2023, reflecting a positive trend in interest rates[114]. Assets and Liabilities - Total assets remained stable at $1.6 billion as of September 30, 2024, consistent with December 31, 2023[128]. - Total interest-bearing liabilities rose to $1,046,601 thousand in September 2024, up from $1,029,206 thousand in September 2023, indicating a growth of 1.7%[114]. - Total deposits decreased by $40.7 million, or 3.1%, to $1.3 billion at September 30, 2024, primarily due to seasonal fluctuations[134]. - Total borrowings increased by $24.2 million to $123.2 million at September 30, 2024, driven by an increase in FHLB borrowings to support loan growth[139]. Loans and Credit Quality - Loans receivable, net, totaled $1,419,665 thousand in September 2024, compared to $1,401,728 thousand in September 2023, marking an increase of 1.3%[114]. - The allowance for credit losses on loans increased to $11.5 million, or 1.15% of gross loans, as of September 30, 2024, compared to $10.6 million, or 1.12% at December 31, 2023[129]. - Loans past due 30-89 days increased to $7.3 million, or 0.73% of gross loans, as of September 30, 2024, compared to $1.6 million, or 0.17% at December 31, 2023[131]. - The provision for credit losses was $500,000 in Q3 2024, up from $0 in Q3 2023, indicating a significant increase in expected credit losses[119]. Capital and Dividends - The company declared a 5% stock dividend in October 2024, marking the 24th consecutive year of such dividends[103]. - The company paid a quarterly cash dividend of $0.21 per share during the quarter ended September 30, 2024[148]. - The company met all capital adequacy requirements as of September 30, 2024, and was considered "well capitalized" under regulatory standards[147]. Market Presence and Acquisitions - The company completed the acquisition of Freedom Bancshares, Inc. on October 1, 2022, expanding its market presence[102]. Cash Flow and Liquid Assets - Net cash provided by operating activities was $15.3 million, primarily due to net earnings[140]. - Total liquid assets amounted to $436.6 million as of September 30, 2024, down from $484.8 million at December 31, 2023[141]. - Cash and cash equivalents decreased by $5.9 million during the nine months ended September 30, 2024[140]. Interest Rate Sensitivity - Interest rate sensitivity simulations indicated a potential 13.0% decrease in net interest income with a 300 basis point rise in rates[154].