Market Overview

Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2018

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LOGANSPORT, Ind., April 18, 2018 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTC:LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2018 of $537,000 or $.87 per diluted share, compared to earnings in 2017 of $473,000 or $.76 per diluted share.

Total loans were $113.1 million at March 31, 2018 compared to $107.9 million at December 31, 2017. Deposits were $143.9 million at March 31, 2018 compared to $141.0 million at December 31, 2017.  Total assets at March 31, 2018 were $167.9 million. Total Shareholders' Equity at March 31, 2018 was $22.4 million compared to $22.8 million at December 31, 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.

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

 
LOGANSPORT FINANCIAL CORP.
SELECTED FINANCIAL DATA
(Dollars in thousands, except for share data)
         
     03/31/18   12/31/17
   
Total assets   $ 167,873   $ 168,500
   
Loans receivable, net   113,144   107,897
Allowance for loan losses   1,676   1,646
Cash and cash equivalents   4,121   6,431
Securities available for sale   27,618   29,726
Investment in Logansport Investments, Inc.   16,404   16,722
Federal Home Loan Bank stock   731   731
Equity investment   -   -
Deposits   143,916   141,028
Borrowings   -   3,000
Shareholders' equity   22,426   22,801
Shares O/S end of period   620,662   619,773
Nonperforming loans   290   262
Real estate owned   -   -
         
      Three months ended 03/31
    2018   2017
   
Interest income  
(including Logansport Investments, Inc.)   $ 1,722   $ 1,702
Interest expense   218   144
Net interest income   1,504   1,558
Provision for loan losses   -   -
Net interest income after provision   1,504   1,558
Gain (Loss) on sale of investments   -   -
Gain on sale of loans   26   20
Gain (Loss) on equity investment   -   -
Gain (Loss) on sale of REO   -   -
Total other income   175   147
General, admin. & other expense   1,053   1,067
Earnings before income taxes   652   658
Income tax expense   115   185
Net earnings   $ 537   $ 473
Basic earnings per share   $ .87   $ .76
Diluted earnings per share   $ .87   $ .76
Weighted avg. shares o/s-diluted   620,662   619,773
         


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