LANDMARK BANCORP INC SEC 10-Q Report
Landmark Bancorp Inc. released its Q3 2025 10-Q report, showing strong financial performance. Total interest income rose 9% to $20.7 million, net interest income increased 21.5% to $14.1 million, and net earnings grew 25.4% to $4.9 million. Loan portfolio expanded to $1.1 billion, boosting interest income by 11.6%. Net interest margin improved to 3.83%. The company declared a 5% stock dividend for December 2025, marking 25 years of consecutive dividends.
Landmark Bancorp Inc., a prominent financial institution, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant improvements in both financial and operational metrics, reflecting the company's robust performance and strategic growth initiatives.
Financial Highlights
- Total Interest Income: $20.7 million, increased by 9.0% compared to the same period in 2024 due to higher average loan balances.
- Net Interest Income: $14.1 million, increased by 21.5% from the third quarter of 2024, driven by higher interest income on loans and lower interest expense.
- Net Earnings: $4.9 million, increased by 25.4% from $3.9 million in the third quarter of 2024, primarily due to increased net interest income.
- Basic Earnings Per Share: $0.85, up from $0.68 in the third quarter of 2024, reflecting improved profitability.
- Diluted Earnings Per Share: $0.85, consistent with basic earnings per share, indicating no significant dilution from potential common shares.
Business Highlights
- Loan Portfolio Growth: The company experienced significant growth in its loan portfolio, with average loan balances increasing from $985.7 million in the third quarter of 2024 to $1.1 billion in the third quarter of 2025. This growth was primarily driven by increases in one-to-four family residential real estate loans, commercial real estate loans, and consumer loans.
- Interest Income Performance: Interest income on loans increased by 11.6% in the third quarter of 2025 compared to the same period in 2024, primarily due to higher average loan balances. The yield on loans slightly decreased from 6.43% to 6.37% during the same period.
- Investment Securities: The company saw a decrease in interest income from investment securities by 4.9% in the third quarter of 2025 compared to the same period in 2024, due to a reduction in average balances of investment securities from $428.3 million to $362.7 million.
- Deposit Trends: The total cost of interest-bearing deposits decreased from 2.48% in the third quarter of 2024 to 2.18% in the third quarter of 2025, reflecting lower rates on deposits. However, average interest-bearing deposit balances increased from $936.2 million to $984.3 million.
- Borrowing Costs: Interest expense on borrowings decreased due to a reduction in average borrowings and repurchase agreements, which fell by $14.0 million from the third quarter of 2024 to the third quarter of 2025. The average rate on borrowings also decreased from 5.72% to 5.09%.
- Net Interest Margin Improvement: The net interest margin, on a tax-equivalent basis, improved from 3.30% in the third quarter of 2024 to 3.83% in the third quarter of 2025, driven by increased interest income on loans and reduced interest expense.
- Future Outlook: The company remains committed to its strategy of growing its commercial, commercial real estate, and agriculture loan portfolios while maintaining a strong capital base. The management anticipates continued profitability and has declared a 5% stock dividend for December 2025, marking the 25th consecutive year of such dividends.
SEC Filing: LANDMARK BANCORP INC [ LARK ] - 10-Q - Nov. 13, 2025
