Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2017 - Logansport Finl (OTC:LOGN)

LOGANSPORT, Indiana, April 12, 2017 (GLOBE NEWSWIRE) -- Logansport Financial Corp., LOGN, parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2017 of $473,000 or $.76 per diluted share, compared to earnings in 2016 of $502,000 or $.79 per diluted share.

Total loans were $115.3 million at March 31, 2017 compared to $118.8 million at December 31, 2016. Deposits were up slightly during the quarter. Total assets at March 31, 2017 were $167.0 million. Total Shareholders' Equity at March 31, 2017 was $21.5 million compared to $22.4 million at December 31, 2016. The Corporation did pay out a Special Dividend of $2.00 per share to its shareholders in the first quarter of 2017.

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)

	03/31/17	12/31/16

Total assets	$166,997	$170,388

Loans receivable, net	115,308	118,792
Allowance for loan losses	1,674	1,672
Cash and cash equivalents	4,247	6,732
Securities available for sale	27,213	25,034
Investment in Logansport Investments, Inc.	13,391	12,455
Federal Home Loan Bank stock	731	731
Equity investment	-	-
Deposits	144,324	144,170
Borrowings	-	2,000
Shareholders' equity	21,505	22,378
Shares O/S end of period	619,773	619,525
Nonperforming loans	810	868
Real estate owned	28	-

	Three months ended 03/31
	2017	2016

Interest income
(including Logansport Investments, Inc.)	$1,702	$1,707
Interest expense	144	127
Net interest income	1,558	1,580
Provision for loan losses	-	-
Net interest income after provision	1,558	1,580
Gain (Loss) on sale of investments	-	4
Gain on sale of loans	20	20
Gain (Loss) on equity investment	-	(15)
Gain (Loss) on sale of REO	-	-
Total other income	147	138
General, admin. & other expense	1,067	1,012
Earnings before income taxes	658	715
Income tax expense	185	213
Net earnings	$473	$502
Basic earnings per share	$.76	$.79
Diluted earnings per share	$.76	$.79
Weighted avg shares o/s-diluted	619,773	619,525

Contact:

Chad Higgins
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857

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