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Logansport Financial Corp. (Symbol: LOGN) is the holding company for Logansport Savings Bank, providing various banking products and services to both individuals and businesses in Cass County, Indiana. The company's comprehensive suite of personal banking products includes checking accounts, NOW accounts, savings accounts, health savings accounts, certificates of deposit, individual retirement accounts, and a range of loans such as mortgage, home equity lines, home improvement, construction, commercial buildings, farm, consumer, education, and car loans. Additionally, they offer internet and mobile banking services, overdraft protection, and more.
For businesses, Logansport Financial Corp. offers commercial checking accounts, commercial savings accounts and certificates of deposit, money market accounts, commercial sweep accounts, ACH debit/credit capabilities, and electronic federal tax payment systems. They also provide remote banking and merchant card services, wires, coin services, night deposit bags, and more to streamline business banking operations for their clients.
In terms of financial performance, Logansport Financial Corp. reported net earnings for the quarter ended June 30, 2023, at $529,000 or $0.86 per diluted share, and $371,000 or $0.61 per diluted share for the third quarter ended September 30, 2023. Year-to-date net earnings for 2023 stand at $1,501,000, compared to $2,428,000 for the same period in 2022. The company's total assets as of September 30, 2023, were $244.3 million, with total deposits at $200.9 million.
The company has also been proactive in rewarding its shareholders, paying $3.85 per share in dividends in the first nine months of 2023, including a special dividend of $2.50 per share. This marks a significant increase from the $1.20 dividend paid in the same period in 2022.
Logansport Financial Corp. continues to be a key player in the local banking sector, offering robust financial services and maintaining a strong financial position, underpinned by their commitment to customer satisfaction and community service.
Logansport Financial Corp. (LOGN) reported net earnings of $596,000 or $0.98 per diluted share for Q1 2023, a decline from $783,000 or $1.28 per diluted share in Q1 2022. The company paid dividends of $0.45 per share during the quarter. As of March 31, 2023, total loans increased to $160.6 million, while deposits decreased to $209.3 million. Total assets were reported at $253.8 million, down from $255.0 million at year-end 2022. The allowance for loan losses rose to $2.9 million, while cash and cash equivalents dropped to $3.5 million. The financial results reflect ongoing economic challenges and pressures on the banking sector, with interest expenses significantly increasing to $844,000 from $116,000 in the prior year.
Logansport Financial Corp. (LOGN) has announced a Special Dividend of $2.50 per share for shareholders of record as of April 3, 2023. This dividend will be disbursed on May 3, 2023. According to President Chad Higgins, the board is pleased to reward loyal shareholders, attributing the dividend to the dedication of employees at Logansport Savings Bank amidst recent challenges. This decision reflects the corporation's commitment to shareholder value and financial health.
Logansport Financial Corp. (LOGN) has announced a quarterly cash dividend of $0.45 per share for Q1 2023. This dividend will be payable on April 24, 2023 to stockholders of record as of March 22, 2023. As a holding company for Logansport Savings Bank, this declaration reflects the company's ongoing commitment to returning value to its shareholders. This dividend amount is significant, as it indicates financial stability and shareholder confidence.
Logansport Financial Corp. (LOGN) reported its earnings for the fiscal year ending December 31, 2022, showing a net income of $3,163,000, a decline from $3,207,000 in 2021. For Q4 2022, net earnings were $735,000, down from $843,000 year-over-year. Earnings per share (EPS) slightly decreased to $5.19 from $5.26. Return on Assets declined from 1.30% to 1.24%, while Return on Equity improved to 15.47% from 11.27%. The total assets increased to $255,048,000 compared to $247,706,000 in 2021. The company noted potential risks, including economic changes and regulatory factors, which could affect future performance.
Logansport Financial Corp. (LOGN) has declared a quarterly cash dividend of $0.45 per share for Q4 2022, marking a 12.5% increase from the previous quarter. This dividend is scheduled to be paid on January 16, 2023, to shareholders on record by December 15, 2022. This increase reflects the company's ongoing commitment to returning value to its shareholders.
Logansport Financial Corp. (OTCQB, LOGN) reported net earnings of $820,000 or $1.34 per diluted share for the quarter ended September 30, 2022, an increase from $766,000 or $1.26 per diluted share in 2021. Year-to-date earnings rose to $2,428,000 compared to $2,364,000 in 2021, with diluted earnings per share increasing from $3.89 to $3.98. Total assets decreased to $241 million from $250.1 million, while total deposits rose slightly to $220.3 million. The company declared dividends of $1.20 per share in the first half of 2022, down from $3.20 in 2021.
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