LEDYARD FINCL GROUP INC - LFGP STOCK NEWS

Ledyard Financial Group (OTCQX: LFGP) reported Q2 2024 net income of $726,000 ($0.22 per share), up $263,000 from Q1 2024 and $7,000 from Q2 2023. Key highlights include:

- Total assets grew 1.5% to $908.0 million, up 21.2% year-over-year
- Gross loans increased 8.5% to $496.2 million, up 33.5% year-over-year
- Client deposits rose by $23.9 million quarter-over-quarter and $182.2 million year-over-year
- Assets under management reached $2.04 billion, up 0.8% from Q1 and 12.0% year-over-year
- Net interest margin widened to 2.14% from 2.01% in Q1 2024

The company declared a quarterly dividend of $0.21 per share, payable on September 6, 2024.

Ledyard Financial Group, Inc. (OTCQX: LFGP) reported Q1 2024 earnings with net income of $463 thousand, an increase from Q4 2023 but a decrease from Q1 2023. Total assets grew by 4.6% from the prior quarter and 19.8% from a year ago. Loan balances increased by 9.2% from the prior quarter and 25.8% from a year ago. A regular quarterly dividend of $0.21 per share was declared.

Ledyard Financial Group, Inc. (LFGP) reported Q4 2023 and FY 2023 financial results, showcasing a decline in net income due to provisions for credit losses. Despite challenges, the company focused on long-term value creation, witnessing growth in relationship-based loans and client deposits. Wealth management revenue remained stable, with total assets and AUM showing positive growth. The Company declared a regular quarterly dividend of $0.21 per share.

Ledyard Financial Group, Inc. reports Q3 2023 financial results, with net income of $839 thousand, up 17% from Q2 2023, and down 60% from Q3 2022. The company declares a regular quarterly dividend of $0.21. Client deposit growth of $9.8 million and net loan growth of $13.5 million. Net interest margin narrows to 2.27%. Advisory revenue of $3.2 million and assets under management of $1.78 billion. Non-interest expense increases by 0.2% compared to Q2 2023. Total assets grow by 6.8% to $800.2 million. Gross loans increase by 3.5% to $385.0 million. The company maintains a strong balance sheet with Tier One Leverage Ratio of 9.25% and Total Risk-Based Capital Ratio of 15.02%.

Charles M. Petersen joins Ledyard Financial Group's Board of Directors

Ledyard Financial Group, Inc. (LFGP) announced its Q1 2023 financial results, reporting a net income of $1.49 million or $0.45 per share, up from $784 thousand in Q4 2022. Advisory revenue reached $3.1 million with assets under management increasing to $1.75 billion. Despite a $53 thousand decline in net interest income compared to the previous quarter, it still showed a $182 thousand increase year-over-year. The cost of interest-bearing deposits remained low at 0.40%. The quarterly dividend of $0.21 is set for payment on May 26, 2023. The company maintains strong liquidity and capital positions, achieving capital ratios above regulatory minimums.

Ledyard Financial Group, Inc. (LFGP) has revised its Q4 and FY 2022 financial results due to a change in the allowance for loan losses (ALLL). The ALLL was increased to $3.84 million, resulting in a significant decrease in net income for Q4 2022, which dropped to $784k ($0.24 per share) from $1.76 million in Q3 2022. For FY 2022, net income was $6.98 million ($2.14 per share), down from $7.96 million in 2021. Notably, net interest income before provision rose to $4.93 million in Q4, a 10% increase from Q3 2022, attributed to widening spreads. The company reported a decline in non-interest revenue, with total assets at $743.5 million.