Landmark Bancorp Files Q2 2024 10-Q

TL;DR

LBCK Q2 10-Q is in. Check financials for performance update.

AI Summary

Landmark Bancorp Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This filing provides investors and stakeholders with a transparent look into Landmark Bancorp's financial health and strategic direction during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Period End Date (Financial reporting period)
• 2024-08-13 — Filing Date (Date the report was submitted)

Key Players & Entities

• LANDMARK BANCORP INC (company) — Filer
• 0001141688 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240813 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — h registered: Common Stock, par value $0.01 per share LARK Nasdaq Global Marke

Filing Documents

• form10-q.htm (10-Q) — 3818KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-031564.txt ( ) — 16994KB
• lark-20240630.xsd (EX-101.SCH) — 57KB
• lark-20240630_cal.xml (EX-101.CAL) — 84KB
• lark-20240630_def.xml (EX-101.DEF) — 229KB
• lark-20240630_lab.xml (EX-101.LAB) — 478KB
• lark-20240630_pre.xml (EX-101.PRE) — 398KB
• form10-q_htm.xml (XML) — 5005KB

Financial Statements

Financial Statements 2 - 25 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 - 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38 Signature Page 39 1 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS LANDMARK BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share amounts) June 30, December 31, 2024 2023 (Unaudited) Assets Cash and cash equivalents $ 23,889 $ 27,101 Interest-bearing deposits at other banks 4,881 4,918 Investment securities available-for-sale, at fair value 420,459 452,769 Investment securities, held-to-maturity, net of allowance for credit losses of $ 91 and $ 91 , fair value of $ 3,128 and $ 3,049 3,613 3,555 Bank stocks, at cost 9,647 8,123 Loans, net of allowance for credit losses of $ 10,903 and $ 10,608 969,089 937,619 Loans held for sale, at fair value 2,513 853 Bank owned life insurance 38,826 38,333 Premises and equipment, net 20,986 19,709 Goodwill 32,377 32,377 Other intangible assets, net 2,900 3,241 Mortgage servicing rights 2,997 3,158 Real estate owned, net 428 928 Accrued interest and other assets 28,149 28,988 Total assets $ 1,560,754 $ 1,561,672 Liabilities and Stockholders' Equity Liabilities: Deposits: Non-interest-bearing demand $ 360,631 $ 367,103 Money market and checking 546,385 613,613 Savings 150,996 152,381 Certificates of deposit 192,470 183,154 Total deposits 1,250,482 1,316,251 Federal Home Loan Bank and other borrowings 131,330 64,662 Subordinated debentures 21,651 21,651 Repurchase agreements 8,745 12,714 Accrued interest and other liabilities 20,292 19,480 Total liabilities 1,432,500 1,434,758 Commitments and contingencies - - Stockholders' equity: Preferred stock, $ 0.01 par value per share, 200,000 shares authorized; none iss

View Full Filing

View this 10-Q filing on SEC EDGAR