Landmark Bancorp Posts 24% Rise in Third-Quarter Profit, Declares Cash and Stock Dividends

Landmark Bancorp, Inc. reported stronger earnings for the third quarter of 2025, supported by higher net interest income and disciplined cost management. The Manhattan, Kansas–based bank holding company recorded net income of $4.9 million, or $0.85 per diluted share, up from $3.9 million, or $0.68 per diluted share, in the same period a year earlier. The performance represents a 24.1 percent increase in diluted earnings per share.

Profitability and Efficiency Metrics

Return on average assets improved to 1.21 percent, while return on average equity reached 13 percent. Management kept the net interest margin steady during the quarter and reduced the efficiency ratio to 60.7 percent, indicating better cost control relative to revenue generation.

Balance-Sheet Trends

Total loans were essentially unchanged at quarter-end, but average loan balances expanded nearly 10 percent on an annualized basis compared with the previous quarter. Deposit growth was led by brokered deposits, though non-interest-bearing demand balances also increased. The company lowered its dependence on Federal Home Loan Bank advances and other wholesale borrowings.

Landmark’s tangible book value per share rose to $20.96, a gain of 6.6 percent from the prior quarter and 15.7 percent from year-end 2024. The rise reflected retained earnings growth and a smaller accumulated other comprehensive loss tied to market valuations.

Credit Quality

Asset-quality indicators improved during the period. Nonperforming loans fell by almost $7 million, helped principally by the resolution of a previously disclosed large commercial credit that had been on nonaccrual status. Management described the overall credit profile as stronger and reiterated a risk-averse stance toward rate and concentration exposure.

Shareholder Distributions

The board of directors declared a $0.21 per-share cash dividend payable on November 26, 2025, to shareholders of record as of November 12, 2025. The payout marks the company’s 97th consecutive quarterly cash dividend since its formation in 2001.

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In addition to the cash payment, the board approved a 5 percent stock dividend to be issued on December 15, 2025, to shareholders of record on December 1, 2025. The action represents the 25th straight year in which Landmark has distributed a 5 percent stock dividend, underscoring its stated commitment to enhancing liquidity and long-term shareholder value.

Capital and Liquidity Position

Management said capital and liquidity levels remain robust, supported by a stable base of low-cost core deposits generated through the company’s community banking network. Executives highlighted continued investment in personnel across Landmark’s footprint, noting that these additions are intended to sustain franchise growth while maintaining operating discipline.

Industry Context

Landmark’s third-quarter performance was released amid a broader industry environment characterized by heightened attention to funding costs and credit quality. According to the Federal Deposit Insurance Corporation’s Quarterly Banking Profile, community banks have faced pressure from rising deposit costs throughout 2025, making efficiency gains and balance-sheet resilience key competitive factors.

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