Logansport Financial Corp. Reports Net Earnings for the Quarter Ended June 30, 2020

Nachrichtenquelle: globenewswire
15.07.2020, 18:41  |  101   |   |   

LOGANSPORT, Ind., July 15, 2020 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB,  LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended June 30, 2020 of $879,000 or $1.44 per diluted share, compared to earnings in 2019 of $561,000 or $.91 per diluted share. Year to date the company reported net earnings of $1,492,000 for 2020 compared to $1,061,000 for 2019. Diluted earnings per share for the six months ended June 30, 2020 were $2.44 compared to $1.72 for the six months ended June 30, 2019. Total assets at June 30, 2020 were $221.6 million compared to total assets at June 30, 2019 of $183.4 million. Total Deposits at June 30, 2020 were $193.3 million compared to total deposits of $158.3 million at June 30, 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 (Unaudited)
(Dollars in thousands, except for share data)
         
    6/30/20   6/30/19
         
Total assets   $ 221,611   $ 183,389
             
Loans receivable, net     144,134     112,882
Allowance for loan losses     1,813     1,742
Cash and cash equivalents     19,698     17,759
Securities available for sale     26,350     27,057
Investment in Logansport Investments, Inc.     25,194     19,214
Federal Home Loan Bank stock     731     731
Equity Investment     -     -
Deposits     193,278     158,308
FHLB Borrowings and note payable     -     -
Shareholders’ equity     26,191     23,551
Shares O/S end of period     611,863     616,843
Non-accrual loans     448     282
Real Estate Owned     -     -


    Quarter ended 6/30   Six months ended 6/30
    2020   2019   2020   2019
                 
Interest income   $ 1,982   $ 1,853   $ 3,875   $ 3,627
Interest expense     227     413     539     784
Net interest income     1,755     1,440     3,336     2,843
Provision for loan losses     59     -     59     -
Net interest income after provision     1,696     1,440     3,277     2,843
Gain on sale of Investments     -     72     -     72
Gain on sale of loans     475     44     526     64
Loss on sale of REO     -     -     -     (6)
Total other income     260     206     474     370
Gain(loss) on Logansport Investments, Inc.     146     128     289     253
Gain (loss) on equity investment     -     -     -     -
Total general, admin. & other expense     1,498     1,215     2,763     2,332
Earnings before income taxes     1,079     675     1,803     1,264
Income tax expense     200     114     311     203
Net earnings   $ 879   $ 561   $ 1,492   $ 1,061
Basic earnings per share   $ 1.44   $ .91   $ 2.44   $ 1.72
Diluted earnings per share   $ 1.44   $ .91   $ 2.44   $ 1.72
Weighted average shares o/s diluted     611,863     616,825     611,863     616,825
                         

Contact: Chad Higgins
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857


Logansport Financial Aktie jetzt ab 0€ handeln - auf Smartbroker.de



Diesen Artikel teilen

0 Kommentare

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Meistgelesene Nachrichten des Autors

Titel
Titel
Titel
Titel