101 0 Kommentare Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2020

LOGANSPORT, Ind., April 15, 2020 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2020 of $613,000 or $1.00 per diluted share, compared to earnings in 2019 of $500,000 or $.81 per diluted share. The Dividends paid to shareholders were $0.35 per share in the first quarter of 2020.

Total loans were $130.2 million at March 31, 2020 compared to $124.2 million at December 31, 2019. Deposits were $166.0 million at March 31, 2020 compared to $160.6 million at December 31, 2019. Total assets at March 31, 2020 were $192.7 million compared to $188.3 million at December 31, 2019. Total Shareholders’ Equity at March 31, 2020 was $25.1 million compared to $24.2 million at December 31, 2019.

The statements contained in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involves a number of risks and uncertainties. A number of factors could cause results to differ materially from the objectives and estimates expressed in such forward-looking statements. These factors include, but are not limited to, changes in the financial condition of issuers of the Company’s investments and borrowers, changes in economic conditions in the Company’s market area, changes in policies of regulatory agencies, fluctuations in interest rates, demand for loans in the Company’s market area, changes in the position of banking regulators on the adequacy of our allowance for loan losses, and competition, all or some of which could cause actual results to differ materially from historical earnings and those presently anticipated or projected. These factors should be considered in evaluation of any forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

LOGANSPORT FINANCIAL CORP.
SELECTED FINANCIAL DATA
(Dollars in thousands, except for share data)

	03/31/20		12/31/19

Total assets	$192,744		$188,251

Loans receivable, net		130,163		124,238
Allowance for loan losses		1,759		1,762
Cash and cash equivalents		10,634		10,630
Securities available for sale		22,913		24,176
Investment in Logansport Investments, Inc.		22,716		22,122
Federal Home Loan Bank stock		731		731
Deposits		166,063		160,588
Borrowings		-		-
Shareholders’ equity		25,157		24,245
Shares O/S end of period		611,863		610,681
Nonperforming loans		184		250
Real estate owned		-		-

	Three months ended 03/31
		2020		2019

Interest income
(including Logansport Investments, Inc.)	$2,035		$1,897
Interest expense		311		371
Net interest income		1,724		1,526
Provision for loan losses		-		-
Net interest income after provision		1,724		1,526
Gain (Loss) on sale of investments		-		-
Gain on sale of loans		51		21
Gain (Loss) on sale of REO		-		(6)
Total other income		214		165
General, admin. & other expense		1,265		1,117
Earnings before income taxes		724		589
Income tax expense		111		89
Net earnings	$613		$500
Basic earnings per share	$1.00		$.81
Diluted earnings per share	$1.00		$.81
Weighted avg. shares o/s-diluted		611,863		618,969