Logansport Financial Corp. Reports Net Earnings for the Quarter Ended September 30, 2024
Logansport Financial Corp. (OTCQB: LOGN), parent of Logansport Savings Bank, reported its financial results for Q3 2024. The company's net earnings for the quarter were $192,000 or $0.31 per diluted share, down from $371,000 or $0.61 per diluted share in Q3 2023. Year-to-date net earnings for 2024 were $808,000, compared to $1,501,000 in 2023. Diluted earnings per share for the first nine months of 2024 were $1.32, down from $2.46 in the same period of 2023.
Total assets as of September 30, 2024, stood at $256.9 million, an increase from $244.3 million a year earlier. Total deposits slightly decreased to $216.6 million from $219.4 million in the previous year. The company paid $1.35 per share in dividends during the first nine months of 2024, compared to $3.85 in 2023, which included a special dividend of $2.50 per share.
Logansport Financial Corp. (OTCQB: LOGN), la capogruppo di Logansport Savings Bank, ha riportato i risultati finanziari per il terzo trimestre del 2024. Gli utili netti dell'azienda per il trimestre sono stati di $192.000 o $0,31 per azione diluita, in diminuzione rispetto ai $371.000 o $0,61 per azione diluita del terzo trimestre del 2023. Gli utili netti da inizio anno per il 2024 sono stati di $808.000, rispetto ai $1.501.000 nel 2023. Gli utili per azione diluita per i primi nove mesi del 2024 sono stati di $1,32, in calo rispetto ai $2,46 nello stesso periodo del 2023.
Il totale degli attivi al 30 settembre 2024 ammontava a $256,9 milioni, un aumento rispetto ai $244,3 milioni dell'anno precedente. I depositi totali sono leggermente diminuiti a $216,6 milioni, rispetto ai $219,4 milioni dell'anno scorso. L'azienda ha distribuito $1,35 per azione in dividendi durante i primi nove mesi del 2024, rispetto ai $3,85 del 2023, che includevano un dividendo speciale di $2,50 per azione.
Logansport Financial Corp. (OTCQB: LOGN), la empresa matriz de Logansport Savings Bank, reportó sus resultados financieros para el tercer trimestre de 2024. Las ganancias netas de la compañía para el trimestre fueron de $192,000 o $0.31 por acción diluida, una disminución respecto a $371,000 o $0.61 por acción diluida en el tercer trimestre de 2023. Las ganancias netas acumuladas hasta la fecha para 2024 fueron de $808,000, en comparación con $1,501,000 en 2023. Las ganancias por acción diluida para los primeros nueve meses de 2024 fueron de $1.32, en comparación con $2.46 en el mismo periodo de 2023.
El total de activos a 30 de septiembre de 2024 fue de $256.9 millones, un aumento respecto a $244.3 millones del año anterior. Los depósitos totales disminuyeron ligeramente a $216.6 millones desde $219.4 millones del año pasado. La compañía pagó $1.35 por acción en dividendos durante los primeros nueve meses de 2024, comparado con $3.85 en 2023, que incluía un dividendo especial de $2.50 por acción.
Logansport Financial Corp. (OTCQB: LOGN), Logansport Savings Bank의 모기업, 2024년 3분기 재무 결과를 보고했습니다. 회사의 3분기 순이익은 $192,000 또는 $0.31의 희석주당 수익으로, 2023년 3분기 $371,000 또는 $0.61의 희석주당 수익에서 감소했습니다. 2024년 연초부터 현재까지의 순이익은 $808,000으로, 2023년의 $1,501,000과 비교됩니다. 2024년 첫 아홉 달 동안의 희석주당 수익은 $1.32로, 2023년 같은 기간의 $2.46에서 감소했습니다.
2024년 9월 30일 현재 총 자산은 $256.9 백만으로, 작년 $244.3 백만에서 증가했습니다. 총 예금은 이전 해의 $219.4 백만에서 $216.6 백만으로 약간 감소했습니다. 회사는 2024년 첫 아홉 달 동안 $1.35 per share의 배당금을 지급했으며, 2023년에는 $3.85를 지급했으며, 여기에는 주당 $2.50의 특별 배당금이 포함되었습니다.
Logansport Financial Corp. (OTCQB: LOGN), la société mère de Logansport Savings Bank, a publié ses résultats financiers pour le troisième trimestre de 2024. Les bénéfices nets de l’entreprise pour le trimestre s’élevaient à $192,000 ou $0.31 par action diluée, en baisse par rapport à $371,000 ou $0.61 par action diluée au troisième trimestre de 2023. Les bénéfices nets cumulés depuis le début de l'année pour 2024 étaient de $808,000, comparé à $1,501,000 en 2023. Les bénéfices par action diluée pour les neuf premiers mois de 2024 étaient de $1.32, en baisse par rapport à $2.46 pour la même période en 2023.
Les actifs totaux au 30 septembre 2024 s'élevaient à $256,9 millions, une augmentation par rapport à $244,3 millions l'année précédente. Les dépôts totaux ont légèrement diminué à $216,6 millions contre $219,4 millions l'année dernière. L’entreprise a versé $1,35 par action en dividendes au cours des neuf premiers mois de 2024, comparé à $3,85 en 2023, qui incluait un dividende spécial de $2,50 par action.
Logansport Financial Corp. (OTCQB: LOGN), Muttergesellschaft der Logansport Savings Bank, hat ihre finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht. Der Nettogewinn des Unternehmens für das Quartal betrug $192.000 oder $0,31 pro verwässerter Aktie, ein Rückgang von $371.000 oder $0,61 pro verwässerter Aktie im dritten Quartal 2023. Die Nettogewinne von Januar bis September 2024 beliefen sich auf $808.000, verglichen mit $1.501.000 im Jahr 2023. Der verwässerte Gewinn pro Aktie für die ersten neun Monate 2024 betrug $1,32, gegenüber $2,46 im gleichen Zeitraum 2023.
Die gesamten Vermögenswerte beliefen sich am 30. September 2024 auf $256,9 Millionen, ein Anstieg von $244,3 Millionen im Vorjahr. Die Gesamteinlagen wurden auf $216,6 Millionen verringert, von $219,4 Millionen im Vorjahr. Das Unternehmen zahlte während der ersten neun Monate 2024 $1,35 pro Aktie an Dividenden, verglichen mit $3,85 im Jahr 2023, das eine Sonderdividende von $2,50 pro Aktie enthielt.
- Total assets increased to $256.9 million, up 5.2% year-over-year
- Company maintained dividend payments, distributing $1.35 per share in the first nine months of 2024
- Q3 2024 net earnings decreased by 48.2% year-over-year to $192,000
- Diluted EPS for Q3 2024 fell to $0.31 from $0.61 in Q3 2023
- Year-to-date net earnings for 2024 declined by 46.2% compared to 2023
- Total deposits decreased slightly to $216.6 million from $219.4 million year-over-year
- Dividend payments in 2024 were significantly lower compared to 2023, which included a special dividend
LOGANSPORT, Ind., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCQB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended September 30, 2024 of
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 (Unaudited) | |||||||
| (Dollars in thousands, except for share data) | |||||||
| 9/30/2024 | 9/30/2023 | ||||||
| Total assets | |||||||
| Loans receivable, net | 172,097 | 168,710 | |||||
| Allowance for loan losses | 2,859 | 2,941 | |||||
| Cash and cash equivalents | 11,384 | 4,749 | |||||
| Securities available for sale | 26,783 | 28,524 | |||||
| Investment in Logansport Investments, Inc. | 29,859 | 27,237 | |||||
| Federal Home Loan Bank stock | 3,150 | 3,150 | |||||
| Equity Investment | - | - | |||||
| Deposits | 216,600 | 219,371 | |||||
| FHLB Borrowings and note payable | 15,000 | 5,000 | |||||
| Shareholders’ equity | 21,918 | 17,678 | |||||
| Unrealized gain (loss) on securities | (5,756) | (9,914) | |||||
| Shares O/S end of period | 611,597 | 611,334 | |||||
| Non-accrual loans | 3,288 | 572 | |||||
| Real Estate Owned | - | - | |||||
| Quarter ended 9/30 | Nine months ended 9/30 | ||||||
| 2024 | 2023 | 2024 | 2023 | ||||
| Interest income | |||||||
| Interest expense | 1,570 | 1,420 | 4,657 | 3,343 | |||
| Net interest income | 1,282 | 1,394 | 4,237 | 4,715 | |||
| Provision for loan losses | -30 | - | -79 | - | |||
| Net interest income after provision | 1,312 | 1,394 | 4,316 | 4,715 | |||
| Gain on sale of Investments | - | - | - | - | |||
| Gain on sale of loans | 99 | 87 | 260 | 135 | |||
| Gain on sale of REO | - | - | - | - | |||
| Total other income | 257 | 293 | 889 | 840 | |||
| Gain (loss) on Logansport Investments, Inc. | 175 | 172 | 527 | 658 | |||
| Gain on BOLI Settlement | - | - | - | - | |||
| Total general, admin. & other expense | 1,732 | 1,537 | 5,171 | 4,667 | |||
| Earnings before income taxes | 111 | 409 | 721 | 1,681 | |||
| Income tax expense | -81 | 38 | -87 | 180 | |||
| Net earnings | |||||||
| Basic earnings per share | |||||||
| Diluted earnings per share | |||||||
| Weighted average shares o/s diluted | 611,597 | 611,334 | 611,597 | 611,334 | |||
Contact: Kristie Richey
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857
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