Ledyard Financial Group, Inc. reports developments tied to its role as the holding company for Ledyard National Bank, a full-service community bank offering banking, investment, tax and wealth management services. Recurring updates cover quarterly earnings, cash dividends, loan and deposit trends, net interest margin, credit profile, liquidity management and wealth management revenue.
Company news also includes capital actions such as common stock repurchase authorization, board appointments and commentary on the integration of banking and wealth management operations. Coverage centers on the bank’s community banking activities, asset growth, capital ratios and regional governance matters.
Ledyard Financial Group, Inc. (LFGP) reported record earnings for Q4 and FY 2020, with Q4 net income of $1.75 million ($0.55/share), up 28% from $1.37 million in Q4 2019. Total revenue for Q4 increased by 12% to $8.11 million. Year-end net income reached $6.73 million ($2.13/share), a growth of 16% from the previous year. The bank's total assets grew to $681 million, driven by substantial loan growth, including $27.8 million in PPP loans. Despite these gains, the company acknowledges risks from COVID-19 and has strengthened its reserve for loan losses.