Logansport Financial Corp. Reports Net Earnings for the Quarter Ended March 31, 2025

Rhea-AI Summary

Logansport Financial Corp. (LOGN) has reported strong financial results for Q1 2025. The company's net earnings increased to $377,000 ($0.61 per diluted share), up from $268,000 ($0.44 per diluted share) in Q1 2024.

Key financial highlights include:

• Total assets reached $266.2 million, up from $243.5 million
• Loans grew to $172.3 million from $168.5 million
• Deposits increased to $229.5 million from $194.6 million
• Shareholders received quarterly dividends of $0.45 per share

The bank's performance shows notable improvements in net interest income, rising to $1,922,000 from $1,614,000 year-over-year. Cash and cash equivalents significantly improved to $21.4 million from $2.6 million, while FHLB borrowings decreased to $15 million from $26.1 million.

LOGANSPORT, Ind., April 16, 2025 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2025 of $377,000 or $0.61 per diluted share, compared to earnings in 2024 of $268,000 or $0.44 per diluted share. The Dividends paid to shareholders were $0.45 per share in the first quarter of 2025.

Total loans were $172.3 million on March 31, 2025 compared to loans in 2024 of $168.5 million. Deposits were $229.5 million on March 31, 2025 compared to deposits in 2024 of $194.6 million. Total assets on March 31, 2025 were $266.2 million compared to assets in 2024 of $243.5 million.

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.

Logansport Financial Corp.
Selected Financial Data
(Dollars in thousands except for share data)
		3/31/2025		3/31/2024
Total Assets		$	266,202	$	243,484
Loans receivable, net			172,300		168,491
Allowance for loan losses			1,947		2,934
Cash and cash equivalents			21,367		2,588
Interest Bearing Time Deposits in banks			-		-
Securities available for sale			53,820		57,318
Federal Home Loan Bank stock			3,150		3,150
Deposits			229,461		194,598
FHLB borrowings and note payable			15,000		26,136
Shareholders' equity			20,843		20,801
Shares Issued and Outstanding			613,153		612,822
Nonperforming loans			3,106		545
Real Estate Owned			-		-
		Three months ended 3/31
			2025		2024
Interest income		$	3,442	$	3,088
Interest expense			1,520		1,474
Net interest income			1,922		1,614
Provision for loan losses			-		-
Net interest income after provision			1,922		1,614
Gain on sale of loans			53		51
Other income			190		240
General, admin. & other expense			1,756		1,653
Earnings before income taxes			409		252
Income tax expense			32		(16	)
Net earnings		$	377	$	268
Earnings per share		$0.61		$0.44
Weighted avg. shares o/s-diluted			613,153		612,822

Contact: Kristie Richey
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857

FAQ

What was Logansport Financial's (LOGN) earnings per share in Q1 2025?

Logansport Financial reported earnings of $0.61 per diluted share in Q1 2025, compared to $0.44 in Q1 2024.

How much did LOGN's deposits grow from Q1 2024 to Q1 2025?

Deposits grew by $34.9 million, from $194.6 million in Q1 2024 to $229.5 million in Q1 2025.

What dividend did LOGN pay to shareholders in Q1 2025?

LOGN paid shareholders a dividend of $0.45 per share in the first quarter of 2025.

How much did LOGN's total assets increase in Q1 2025 compared to Q1 2024?

Total assets increased by $22.7 million, from $243.5 million in Q1 2024 to $266.2 million in Q1 2025.

What was LOGN's net interest income for Q1 2025?

LOGN's net interest income for Q1 2025 was $1,922,000, up from $1,614,000 in Q1 2024.