Landmark Bancorp, Inc. reported a significant increase in financial performance for the second quarter of 2025, with net earnings reaching $4.4 million, a 46.2% rise from $3.0 million in the same quarter of 2024. For the first half of 2025, net earnings totaled $9.1 million, up 57.3% from $5.8 million in the prior year. This growth was primarily driven by a 10.6% increase in interest income, which amounted to $20.1 million, largely due to higher average loan balances and improved yields. The company’s net interest income also saw a substantial increase, rising 24.7% to $13.7 million for the second quarter.
In terms of operational metrics, Landmark Bancorp's total assets increased to $1.6 billion as of June 30, 2025, compared to $1.57 billion at the end of 2024. The company’s loan portfolio expanded to $1.1 billion, reflecting a growth in average loan balances. However, total deposits decreased by 4.1% to $1.27 billion, attributed to seasonal declines in public funds and brokered deposits. The company’s allowance for credit losses on loans rose to $13.8 million, or 1.23% of gross loans, reflecting a proactive approach to managing credit risk amid economic uncertainties.
Strategically, Landmark Bancorp continues to focus on enhancing its commercial, commercial real estate, and agriculture loan portfolios. The company has maintained a conservative approach to its deposit base, with a significant portion being retail-based and insured by the FDIC. The company’s capital ratios remain strong, with a Common Equity Tier 1 capital ratio of 10.57% as of June 30, 2025, exceeding regulatory requirements. The company also declared a quarterly dividend of $0.21 per share, marking its 96th consecutive quarterly dividend.
Looking ahead, Landmark Bancorp's management expressed confidence in the company’s ability to navigate the current economic landscape, which includes elevated inflation and interest rates. The company is committed to maintaining a high-quality financial institution with a sound asset base, which they believe will support continued growth and profitability. However, they acknowledged the potential for increased problem assets and emphasized the importance of ongoing monitoring and management of credit risk.
About LANDMARK BANCORP INC
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