Landmark ( (LARK) ) has released its Q3 earnings. Here is a breakdown of the information Landmark presented to its investors.
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Landmark Bancorp, Inc., headquartered in Manhattan, Kansas, is a community banking organization providing financial and banking services, listed on the Nasdaq Global Market under the symbol ‘LARK’.
Landmark Bancorp, Inc. has reported a robust financial performance for the third quarter of 2024, with a significant increase in net earnings and earnings per share. This promising financial result was accompanied by a declared cash dividend and a stock dividend for shareholders.
The company’s earnings per share increased to $0.72, up from $0.55 in the previous quarter and $0.52 in the same quarter last year. Net earnings reached $3.9 million, marking a 30.5% increase from the prior quarter. This growth was driven by loan expansion, a rise in net interest income, and higher non-interest income. The bank’s total loans grew by $21.3 million, primarily in residential mortgage, agriculture, and commercial real estate. Net interest income rose by 5.7% to $11.6 million, and non-interest income saw a 14.3% increase, benefiting from service fees and a gain on the sale of a former branch.
Landmark’s Board of Directors declared a cash dividend of $0.21 per share and a 5% stock dividend, continuing its tradition of rewarding shareholders. Additionally, stockholders’ equity rose to $139.7 million, reflecting improved book value per share and reduced net unrealized securities losses.
Looking ahead, Landmark Bancorp’s management remains optimistic about the company’s growth trajectory, aiming to leverage its strong financial position to further enhance shareholder value while continuing its community-focused banking services.
