LARK · Landmark Bancorp, Inc.

Landmark Bancorp reported strong first quarter 2026 results, with diluted EPS of $0.83, up 6.7% from both the prior quarter and the same quarter last year. Net earnings reached $5.1 million, compared to $4.7 million in both comparative periods. The improvement was driven by net interest income expansion to $15.0 million, up 1.6% sequentially and 14.5% year-over-year, as net interest margin improved 21 basis points to 4.24% due to higher yields on earning assets and lower funding costs. Total deposit costs improved to 1.38%, down 12 bps QoQ and 21 bps YoY. Non-interest income decreased $135,000 from the prior quarter but increased $406,000 year-over-year, primarily due to higher gains on loan sales. Non-interest expense decreased 3.0% sequentially but increased 10.6% year-over-year, partly due to $433,000 in fraud losses related to previously disclosed fraudulent activity by a non-executive officer. The company declared a $0.21 per share cash dividend. Management highlighted record total revenue of $18.8 million and a return on assets of 1.29%, reflecting disciplined execution. The balance sheet showed a decline in period-end deposits of $66.2 million, driven by brokered deposit reduction and seasonal public fund outflows, offset by increased borrowings. Asset quality metrics remained stable with non-performing loans at 0.94% of gross loans.