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Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2025

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

LOGANSPORT, Ind., April 16, 2025 (GLOBE NEWSWIRE) — Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2025 of $377,000 or $0.61 per diluted share, compared to earnings in 2024 of $268,000 or $0.44 per diluted share. The Dividends paid to shareholders were $0.45 per share in the first quarter of 2025.

Total loans were $172.3 million on March 31, 2025 compared to loans in 2024 of $168.5 million. Deposits were $229.5 million on March 31, 2025 compared to deposits in 2024 of $194.6 million. Total assets on March 31, 2025 were $266.2 million compared to assets in 2024 of $243.5 million.

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)
    
   
  3/31/20253/31/2024
 
    
Total Assets $266,202$243,484 
    
Loans receivable, net  172,300 168,491 
Allowance for loan losses  1,947 2,934 
Cash and cash equivalents  21,367 2,588 
Interest Bearing Time Deposits in banks  – – 
Securities available for sale  53,820 57,318 
Federal Home Loan Bank stock  3,150 3,150 
Deposits  229,461 194,598 
FHLB borrowings and note payable  15,000 26,136 
Shareholders’ equity  20,843 20,801 
Shares Issued and Outstanding  613,153 612,822 
Nonperforming loans  3,106 545 
Real Estate Owned  – – 
    
    
  Three months ended 3/31
   2025 2024 
    
Interest income $3,442$3,088 
Interest expense  1,520 1,474 
Net interest income  1,922 1,614 
Provision for loan losses  – – 
Net interest income after provision  1,922 1,614 
Gain on sale of loans  53 51 
Other income  190 240 
General, admin. & other expense  1,756 1,653 
Earnings before income taxes  409 252 
Income tax expense  32 (16)
Net earnings $377$268 
Earnings per share $0.61$0.44 
Weighted avg. shares o/s-diluted  613,153 612,822 

Contact: Kristie Richey
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857

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