LOGANSPORT, Ind., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB: LOGN), parent company of Logansport Savings Bank, reported net earnings for the three and twelve months ended December 31, 2024. Net earnings for the three months ended December 31, 2024 totaled $445,000, compared to the $295,000 in net earnings reported for the three months ended December 31, 2023. Net earnings for the year ended December 31, 2024 totaled $1,254,000, compared to the $1,791,000 reported for the year ended December 31, 2023. Earnings per share was $2.05 for December 31, 2024, compared to $2.93 for December 31, 2023. Return on Assets finished the year at 0.475% for 2024 compared to 0.723% for 2023. The Return on Equity finished the year at 6.14% for December 31, 2024, compared to 8.65% for December 31, 2023. 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 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) 12/31/202412/31/2023 Total Assets $263,860$247,713 Loans receivable, net 175,742 168,672 Allowance for loan losses 1,954 2,553 Cash and cash equivalents 14,992 4,810 Interest Bearing Time Deposits in banks - - Securities available for sale 54,567 59,404 Federal Home Loan Bank stock 3,082 3,082 Deposits 225,904 207,779 FHLB borrowings and note payable 15,000 15,000 Accrued Interest and other liabilities 2,525 2,266 Shareholders' equity 20,431 20,717 Shares Issued and Outstanding 611,597 611,334 Nonperforming loans 2,907 504 Real Estate Owned - - Three months ended 12/31 Year ended 12/31 2024 2023 2024 2023 Interest income $3,559$3,254 $12,981 $11,967 Interest expense 1,552 1,554 6,209 4,897 Net interest income 2,007 1,700 6,772 7,070 Provision for loan losses - - (79) - Net interest income after provision 2,007 1,700 6,851 7,070 Gain on sale of loans 133 36 393 170 Other income 211 179 999 1,018 General, admin. & other expense 1,797 1,580 6,968 6,247 Earnings before income taxes 554 335 1,275 2,011 Income tax expense 109 40 21 220 Net earnings $445$295 $1,254 $1,791 Earnings per share $2.05 $2.93 Weighted avg. shares o/s-diluted 608,124 608,272 Contact: Kristie Richey Chief Financial Officer Phone-574-722-3855 Fax-574-722-3857
Logansport Financial Corp. Reports Earnings for the Three and Twelve Months Ended December 31, 2024
You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more
Start Your Free Trial Now!Download Free Report – Explore 3 Stock Ideas & Industry Insights
Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.
All investments involve risk—consider independent advice before making any investment decisions.
View 3 Research ReportsThis information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.
Please wait processing your request...