Ledyard Financil Stock Price, News & Analysis

Ledyard Financial Group, Inc. (LFGP) has revised its Q4 and FY 2022 financial results due to a change in the allowance for loan losses (ALLL). The ALLL was increased to $3.84 million, resulting in a significant decrease in net income for Q4 2022, which dropped to $784k ($0.24 per share) from $1.76 million in Q3 2022. For FY 2022, net income was $6.98 million ($2.14 per share), down from $7.96 million in 2021. Notably, net interest income before provision rose to $4.93 million in Q4, a 10% increase from Q3 2022, attributed to widening spreads. The company reported a decline in non-interest revenue, with total assets at $743.5 million.

Ledyard Financial Group, with the ticker symbol LFGP, reported Q4 2022 net income of $1.76 million ($0.54 per share), a decrease from $2.08 million in Q3 2022. Full-year net income reached $7.96 million, up from $7.77 million in 2021. Net interest income for Q4 increased to $4.93 million, up 10% QoQ and 8% YoY. Total assets stood at $744.6 million with a 3.1% increase in non-interest expenses year-on-year. The company reduced its allowance for loan losses, reflecting strong credit quality. However, non-interest revenue for the full year fell significantly to $11.21 million from $15.03 million in 2021, largely due to a $3.24 million securities loss in Q4.

Ledyard Financial Group (LFGP) announced a quarterly dividend of $0.21 per share, payable on March 10, 2023, to shareholders of record by February 24, 2023. Headquartered in Hanover, New Hampshire, Ledyard Financial Group is the holding company for Ledyard National Bank, a community bank established in 1991, providing comprehensive banking, investment, and wealth management services. The bank’s shares trade on the OTC Markets under the symbol LFGP. The company remains subject to various risks and uncertainties that may impact future performance and financial results.

Ledyard Financial Group (LFGP) announces the appointment of Josephine Moran to its Board of Directors. Ms. Moran, who has been with Ledyard as President and Chief Banking Officer since January 2022, brings over 20 years of experience in community banking and investment services. Board Chair Bruce King praised her valuable contributions and leadership. Ms. Moran previously held executive positions at Provident Bank and Wells Fargo, among others, and holds multiple degrees and licenses, enhancing her qualifications for the role. Ledyard National Bank, founded in 1991, is a full-service community bank based in Hanover, New Hampshire.

Ledyard Financial Group (Ticker: LFGP) announced a quarterly dividend of $0.21, scheduled for payment on December 2, 2022, to shareholders of record by November 18, 2022. The company, based in Hanover, New Hampshire, operates as the holding company for Ledyard National Bank, a full-service community bank offering banking, investment, and wealth management services.

Ledyard Financial Group, trading as LFGP, reported robust financial results for Q3 2022, with a net income of $2.08 million, marking a 5% increase from $1.97 million in Q3 2021. Year-to-date net income rose 7% to $6.20 million. Total revenue improved by 4% to $8.68 million for Q3 2022, driven by a $750,000 release from the allowance for loan losses. However, net interest income fell by 3% to $4.50 million. Total assets remained stable at $729.5 million, while total shareholder equity decreased significantly to $47.4 million, primarily due to a shift to an unrealized loss position in investments.

Ledyard Financial Group (LFGP) announced the appointment of Peter Sprudzs as SVP and Chief Financial Officer, succeeding Greg Steverson, who is retiring after 20 years. Sprudzs brings extensive experience from roles at BMG Money, Credit One Bank, Flagstar Bank, and Freddie Mac. CEO Kathy Underwood expressed enthusiasm for Sprudzs' strategic capabilities, noting the company's growth phase. Sprudzs holds multiple advanced degrees and risk management certifications, positioning him to drive financial strategy at Ledyard.

Ledyard Financial Group (LFGP) has declared a quarterly dividend of $0.21 per share, payable on September 9, 2022, to shareholders recorded as of August 26, 2022. Headquartered in Hanover, New Hampshire, Ledyard Financial Group serves as the holding company for Ledyard National Bank, which provides a variety of banking and wealth management services. The dividends reflect the company's commitment to returning value to shareholders, indicative of its operational stability amidst market challenges.

Ledyard Financial Group, Inc. (LFGP) reported record earnings for Q2 2022, marking ten consecutive quarters of growth. Net income rose 5.9% to $2,073,185 ($0.64/share) from $1,957,272 in 2021. For the first half of 2022, net income increased 8.6% to $4,117,738 ($1.27/share). Despite a 1.9% revenue decline to $8,227,579 for Q2, overall revenue grew by 1.6% in the first half. Non-interest expenses decreased, while total assets rose to $733.8 million. Shareholders' equity dropped to $47.2 million, reflecting unrealized losses from market changes.