Landmark Bancorp reports $19.2 million in Q2 revenue
Landmark Bancorp reported record Q2 performance with $19.2 million in revenue and $5.4 million in net income. The company’s EPS rose to $0.88.
Net interest income and gains on loan sales drove profitability, lifting return on assets to 1.35% and return on equity to 13.23%. Gross loans grew $4.4 million, led by construction, commercial, and agricultural lending.
The company’s credit quality requires monitoring as nonperforming loans rose to $13.1 million. Landmark recorded a $500,000 credit-loss provision, while its allowance remained at 1.15% of gross loans.