Landmark Bancorp IncLARK
▲ PositiveCapitalrelevance
Record Q2 revenue and net income, higher net interest income, and increased earnings per share.
Impact on stocks 1
Financials
Landmark Bancorp IncLandmark Bancorp reported record second-quarter revenue of $19.2 million and net income of $5.4 million, with earnings per share of $0.88. Net interest income rose to $15.1 million, driven by higher investment portfolio yields and lower funding costs, while noninterest income increased to $4.1 million on stronger gains from loan sales. Gross loans grew $4.4 million to approximately $1.1 billion, led by construction, commercial, and agricultural lending, though total deposits fell $17.7 million to $1.3 billion as the bank reduced brokered CDs and increased Federal Home Loan Bank borrowings. Nonperforming loans rose to $13.1 million, or 1.18% of gross loans, largely due to two borrower relationships entering nonaccrual status, prompting a $500,000 credit-loss provision. The board declared a quarterly cash dividend of $0.21 per share, marking the company's 100th consecutive quarterly payout since its formation in 2001.
Landmark Bancorp IncRecord Q2 revenue and net income, higher net interest income, and increased earnings per share.