Landmark Bancorp, Inc. (LARK) 10-Year Financial Performance & Capital Metrics

LARK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutLandmark Bancorp, Inc. operates as the financial holding company for Landmark National Bank that provides various financial and banking services to its local communities. It offers non-interest bearing demand, money market, checking, and savings accounts, as well as certificates of deposit. The company also one-to-four family residential real estate, construction and land, commercial real estate, commercial, paycheck protection program, municipal, and agriculture loans; and consumer and other loans, including automobile, boat, and home improvement and home equity loans, as well as insurance, and mobile and online banking services. In addition, the company invests in certain investment and mortgage-related securities. It has 30 branch offices in 24 communities across the state of Kansas. The company was founded in 1885 and is headquartered in Manhattan, Kansas.Show more

Net Interest Income $46M +5.6%
Total Revenue $89M +13.8%
Net Income $13M +6.3%
Return on Equity 9.88% -3.7%
Net Interest Margin 2.9% +4.8%
Efficiency Ratio 49.73% -7.7%
ROA 0.83% +3.8%
Equity / Assets 8.65% +6.5%
Book Value per Share 23.63 +7.2%
Tangible BV/Share 17.04 +11.2%
Debt/Equity 0.65 -16.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 49.7% efficiency ratio
✓23 consecutive years of dividend growth
✓Healthy dividend yield of 3.0%
✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.52%

5Y10.87%

3Y12.6%

TTM-

Profit (Net Income) CAGR

10Y4.91%

5Y4.05%

3Y-10.29%

TTM0.22%

EPS CAGR

10Y4.47%

5Y4.54%

3Y-10.1%

TTM39.25%

ROCE

10Y Avg8.86%

5Y Avg10.37%

3Y Avg6.55%

Latest6.07%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	25.92M	26.04M	26.11M	27.79M	30.35M	36.48M	38.32M	38.88M	43.29M	45.72M
NII Growth %	0.05%	0%	0%	0.06%	0.09%	0.2%	0.05%	0.01%	0.11%	0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	29M	29.23M	29.7M	33.15M	37.11M	39.25M	39.83M	43.23M	64.68M	73.9M
Interest Expense	3.08M	3.19M	3.58M	5.37M	6.76M	2.77M	1.51M	4.35M	21.39M	28.18M
Loan Loss Provision	-700K	500K	450K	1.4M	1.4M	3.3M	500K	0	349K	2.3M
Non-Interest Income+	17.01M	14.85M	7.2M	15.57M	15.81M	27.36M	22.26M	13.7M	13.23M	14.74M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	46.01M	44.08M	36.9M	48.72M	52.92M	66.61M	62.09M	56.93M	77.91M	88.64M
Revenue Growth %	0.07%	-0.04%	-0.16%	0.32%	0.09%	0.26%	-0.07%	-0.08%	0.37%	0.14%
Non-Interest Expense	29.21M	29.11M	29.39M	30.36M	32.65M	36.26M	37.26M	41.27M	41.98M	44.08M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	14.42M	11.28M	3.47M	11.59M	12.12M	24.28M	22.82M	11.31M	14.19M	14.09M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.3%	-0.22%	-0.69%	2.34%	0.04%	1%	-0.06%	-0.5%	0.25%	-0.01%
Pretax Income+	14.42M	11.28M	3.47M	11.59M	12.12M	24.28M	22.82M	11.31M	14.19M	14.09M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	3.91M	2.31M	-897K	1.17M	1.45M	4.79M	4.81M	1.43M	1.95M	1.09M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	10.51M	8.96M	4.37M	10.43M	10.66M	19.49M	18.01M	9.88M	12.24M	13M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.31%	-0.15%	-0.51%	1.39%	0.02%	0.83%	-0.08%	-0.45%	0.24%	0.06%
Net Income (Continuing)	10.51M	8.96M	4.37M	10.43M	10.66M	19.49M	18.01M	9.88M	12.24M	13M
EPS (Diluted)+	1.88	1.56	0.75	1.78	1.81	3.37	3.11	1.71	2.12	2.26
EPS Growth %	0.29%	-0.17%	-0.52%	1.37%	0.02%	0.86%	-0.08%	-0.45%	0.24%	0.07%
EPS (Basic)	1.93	1.59	0.76	1.79	1.82	3.37	3.12	1.71	2.12	2.26
Diluted Shares Outstanding	5.6M	5.72M	5.82M	5.85M	5.88M	5.78M	5.8M	5.78M	5.75M	5.76M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	13.57M	20M	16.58M	19.11M	13.69M	90.28M	196.59M	32.24M	32.02M	24.39M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	792.32M	816.84M	833.68M	887.24M	906.78M	1.01B	1.04B	1.34B	1.4B	1.43B
Investments Growth %	0.02%	0.03%	0.02%	0.06%	0.02%	0.12%	0.03%	0.29%	0.05%	0.02%
Long-Term Investments	438.88M	431.28M	445.7M	498.89M	543.79M	722.79M	660.93M	852.63M	950.15M	1.39B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	17.53M	17.53M	17.53M	17.53M	17.53M	17.53M	17.53M	32.2M	32.38M	32.38M
Intangible Assets	4.3M	3.99M	3.66M	3.09M	2.83M	3.93M	4.28M	7.82M	6.4M	5.64M
PP&E (Net)	20.96M	20.41M	20.82M	21.13M	21.13M	20.49M	20.8M	24.33M	19.71M	20.22M
Other Assets	19.16M	19.59M	24.13M	24.38M	25.1M	27.19M	34.66M	38.26M	39.26M	66.08M
Total Current Assets	377.53M	418.59M	417.6M	420.76M	388.09M	396.09M	590.77M	547.63M	513.78M	59.65M
Total Non-Current Assets	500.84M	492.8M	511.85M	565.02M	610.38M	791.94M	738.2M	955.23M	1.05B	1.51B
Total Assets+	878.38M	911.38M	929.45M	985.78M	998.47M	1.19B	1.33B	1.5B	1.56B	1.57B
Asset Growth %	0.02%	0.04%	0.02%	0.06%	0.01%	0.19%	0.12%	0.13%	0.04%	0.01%
Return on Assets (ROA)	0.01%	0.01%	0%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	12.42M	12.04M	9.68M	13.34M	12.61M	17.31M	15.79M	22.53M	0	0
Total Debt+	70.66M	72.87M	66.59M	56.9M	42.2M	28.02M	36.46M	68.25M	99.03M	88.5M
Net Debt	57.09M	52.87M	50.01M	37.78M	28.5M	-62.26M	-160.13M	36.01M	67.01M	64.12M
Long-Term Debt	70.66M	72.87M	53.08M	41.65M	24.65M	21.65M	29.05M	68.25M	86.31M	74.7M
Short-Term Debt	0	0	13.51M	15.25M	17.55M	6.37M	7.4M	0	12.71M	13.81M
Other Liabilities	0	0	0	0	0	0	-7.4M	0	19.48M	20.66M
Total Current Liabilities	727.15M	753.56M	788.75M	852.23M	865.21M	1.04B	1.17B	1.32B	1.33B	1.34B
Total Non-Current Liabilities	70.66M	72.87M	53.08M	41.65M	24.65M	21.65M	21.65M	68.25M	105.79M	95.35M
Total Liabilities	797.81M	826.43M	841.83M	893.88M	889.86M	1.06B	1.19B	1.39B	1.43B	1.44B
Total Equity+	80.57M	84.95M	87.62M	91.9M	108.61M	126.67M	135.64M	111.43M	126.91M	136.22M
Equity Growth %	0.12%	0.05%	0.03%	0.05%	0.18%	0.17%	0.07%	-0.18%	0.14%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.14%	0.11%	0.05%	0.12%	0.11%	0.17%	0.14%	0.08%	0.1%	0.1%
Book Value per Share	14.38	14.85	15.06	15.71	18.47	21.92	23.40	19.27	22.05	23.63
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	35K	38K	41K	44K	46K	48K	50K	52K	55K	58K
Additional Paid-in Capital	45.37M	51.97M	57.77M	63.77M	69.03M	72.23M	79.12M	84.27M	89.21M	95.05M
Retained Earnings	32.99M	34.29M	30.21M	32.07M	34.29M	44.95M	52.59M	52.17M	54.28M	56.93M
Accumulated OCI	2.17M	-1.35M	-405K	-3.99M	5.24M	9.45M	3.88M	-25.07M	-16.56M	-15.83M
Treasury Stock	0	0	0	0	0	0	0	0	-75K	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	7.04M	19.02M	3.06M	21.38M	9.11M	14.81M	31.16M	24.78M	12.6M	14.24M
Operating CF Growth %	-0.19%	1.7%	-0.84%	6%	-0.57%	0.63%	1.1%	-0.2%	-0.49%	0.13%
Net Income	10.51M	8.96M	4.37M	10.43M	10.66M	19.49M	18.01M	9.88M	12.24M	13M
Depreciation & Amortization	2.52M	2.54M	2.29M	2.12M	2.22M	2.59M	2.6M	2.58M	3.11M	2.5M
Deferred Taxes	625K	919K	487K	969K	-195K	-503K	808K	-1.19M	404K	-212K
Other Non-Cash Items	-3.77M	10.24M	115K	3.92M	-2.26M	-8.3M	9.54M	3.07M	1.15M	-1.73M
Working Capital Changes	-2.86M	-3.7M	-4.38M	3.58M	-1.61M	1.23M	-125K	10.14M	-4.65M	153K
Cash from Investing+	-8.37M	-40.28M	-21.15M	-64.14M	-7.76M	-104.55M	-56.45M	-197.16M	-50.61M	-18.11M
Purchase of Investments	-103.53M	-99.55M	-84.41M	-92.47M	-59.38M	-46.39M	-175.6M	-232.41M	-42.96M	-38.3M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	-572K	0	0
Other Investing	-3.07M	-988K	-17.4M	-56.49M	-38.21M	-57.8M	40.52M	-73.98M	-93.3M	-97.67M
Cash from Financing+	2.14M	27.69M	14.68M	45.44M	-6.77M	160.86M	129.69M	6.32M	41.95M	-2.96M
Dividends Paid	-2.55M	-2.91M	-3.11M	-3.33M	-3.51M	-3.63M	-3.82M	-4.2M	-4.39M	-4.61M
Share Repurchases	0	0	0	-7K	-36K	-2.35M	0	-1.24M	-75K	-338K
Stock Issued	0	1.8M	228K	7K	36K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	0	1000K	1000K	-1000K
Other Financing	10.78M	28.6M	24.27M	58.62M	11.44M	169.84M	133.51M	1.56M	-1.04M	13.61M
Net Change in Cash+	809K	6.43M	-3.41M	2.53M	-5.42M	71.12M	104.39M	-166.06M	3.94M	-6.83M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	12.76M	13.57M	20M	16.58M	19.11M	13.69M	84.82M	189.21M	23.16M	27.1M
Cash at End	13.57M	20M	16.58M	19.11M	13.69M	84.82M	189.21M	23.16M	27.1M	20.27M
Interest Paid	3.09M	3.02M	3.38M	0	6.79M	3M	1.55M	4.03M	19.85M	28.32M
Income Taxes Paid	3.39M	945K	850K	0	722K	4.13M	4.46M	1.1M	55K	834K
Free Cash Flow+	5.82M	18.42M	1.61M	20.07M	8.07M	14.45M	29.84M	23.9M	11.61M	11.92M
FCF Growth %	-0.19%	2.17%	-0.91%	11.49%	-0.6%	0.79%	1.06%	-0.2%	-0.51%	0.03%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.8%	10.83%	5.06%	11.62%	10.63%	16.57%	13.73%	8%	10.27%	9.88%
Return on Assets (ROA)	1.21%	1%	0.47%	1.09%	1.07%	1.78%	1.43%	0.7%	0.8%	0.83%
Net Interest Margin	2.95%	2.86%	2.81%	2.82%	3.04%	3.07%	2.88%	2.59%	2.77%	2.9%
Efficiency Ratio	63.48%	66.05%	79.66%	62.32%	61.69%	54.44%	60.01%	72.5%	53.88%	49.73%
Equity / Assets	9.17%	9.32%	9.43%	9.32%	10.88%	10.66%	10.21%	7.41%	8.13%	8.65%
Book Value / Share	14.38	14.85	15.06	15.71	18.47	21.92	23.4	19.27	22.05	23.63
NII Growth	5.08%	0.47%	0.29%	6.41%	9.23%	20.2%	5.03%	1.46%	11.35%	5.62%
Dividend Payout	24.24%	32.5%	71.14%	31.89%	32.9%	18.64%	21.2%	42.5%	35.88%	35.47%

Frequently Asked Questions

Valuation & Price

Landmark Bancorp, Inc. (LARK) has a price-to-earnings (P/E) ratio of 11.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Landmark Bancorp, Inc. (LARK) grew revenue by 13.8% over the past year. This is steady growth.

Yes, Landmark Bancorp, Inc. (LARK) is profitable, generating $12.4M in net income for fiscal year 2024 (14.7% net margin).

Dividend & Returns

Yes, Landmark Bancorp, Inc. (LARK) pays a dividend with a yield of 3.03%. This makes it attractive for income-focused investors.

Landmark Bancorp, Inc. (LARK) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

Industry Metrics

Landmark Bancorp, Inc. (LARK) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.

Landmark Bancorp, Inc. (LARK) has an efficiency ratio of 49.7%. This is excellent, indicating strong cost control.

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