Market Overview

Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2017


LOGANSPORT, Indiana, April 12, 2017 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTC: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.

(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  


Chad Higgins
Chief Financial Officer
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