Welcome to our dedicated page for Ledyard Financil news (Ticker: LFGP), a resource for investors and traders seeking the latest updates and insights on Ledyard Financil stock.
Ledyard Financial Group, Inc. (LFGP) is the holding company for Ledyard National Bank, a full-service community bank founded in 1991 and headquartered in Hanover, New Hampshire. This news page aggregates company-issued updates and market news related to LFGP, with a particular focus on the integration of its banking and wealth management businesses.
In its public releases, the company regularly reports quarterly and full-year earnings, highlighting trends in net income, net interest margin, loan growth, client deposits, and non-interest revenue. A recurring theme is the contribution of the wealth management business, where assets under management and related fee revenue are key indicators discussed each quarter.
Readers can expect news items covering topics such as quarterly earnings results, dividend declarations, balance sheet developments, and changes in capital and liquidity metrics. Ledyard also issues announcements on strategic initiatives, including infrastructure investments, brand and digital updates, and the opening of new financial centers, as described in its earnings commentary.
Governance and leadership updates, such as appointments to the Board of Directors, are also part of the company’s news flow. These releases often emphasize directors’ community involvement and regional experience, reflecting Ledyard’s positioning as a community-focused financial institution.
For investors and observers following the commercial banking and wealth management space, this page provides a centralized view of Ledyard Financial Group’s publicly released information, including its commentary on strategic plans, community banking activities, and the performance of its wealth management platform.
Ledyard Financial Group (OTCQX: LFGP) reported Q2 2024 net income of $726,000 ($0.22 per share), up $263,000 from Q1 2024 and $7,000 from Q2 2023. Key highlights include:
- Total assets grew 1.5% to $908.0 million, up 21.2% year-over-year
- Gross loans increased 8.5% to $496.2 million, up 33.5% year-over-year
- Client deposits rose by $23.9 million quarter-over-quarter and $182.2 million year-over-year
- Assets under management reached $2.04 billion, up 0.8% from Q1 and 12.0% year-over-year
- Net interest margin widened to 2.14% from 2.01% in Q1 2024
The company declared a quarterly dividend of $0.21 per share, payable on September 6, 2024.
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Ledyard Financial Group, Inc. (LFGP) announced its Q1 2023 financial results, reporting a net income of $1.49 million or $0.45 per share, up from $784 thousand in Q4 2022. Advisory revenue reached $3.1 million with assets under management increasing to $1.75 billion. Despite a $53 thousand decline in net interest income compared to the previous quarter, it still showed a $182 thousand increase year-over-year. The cost of interest-bearing deposits remained low at 0.40%. The quarterly dividend of $0.21 is set for payment on May 26, 2023. The company maintains strong liquidity and capital positions, achieving capital ratios above regulatory minimums.
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.