Landmark Bancorp (LARK) investor relations material

Executive summary

• Achieved record Q2 2026 revenue of $19.2 million, driven by higher net interest income and gains on loan sales.

• Diluted EPS rose to $0.88 in Q2 2026, up from $0.83 in Q1 2026 and $0.72 in Q2 2025, a 6.1% year-over-year increase.

• Net earnings for Q2 2026 were $5.4 million, up from $5.1 million in Q1 2026 and $4.4 million in Q2 2025.

• Commercial and agricultural loan portfolios grew, while residential real estate loans declined by strategic choice.

• Quarterly cash dividend of $0.21 per share declared, marking the 100th consecutive quarterly dividend.

Financial highlights

• Net interest income for Q2 2026 was $15.1 million, up $57,000 sequentially and $1.4 million year-over-year.

• Non-interest income reached $4.1 million, up $331,000 from Q1 and $469,000 year-over-year, driven by higher gains on loan sales.

• Non-interest expense was $12.0 million, with increases in professional fees and compensation, including one-time forensic accounting/legal costs related to fraud.

• Gross loans increased by $4.4 million to $1.1 billion at quarter end, with growth in commercial, construction, and agricultural loans.

• Net loan charge-offs totaled $452,000 in Q2 2026, up from $349,000 in Q1 2026.

Outlook and guidance

• Management remains cautiously optimistic about loan growth in H2 2026, focusing on commercial and ag lending.

• Net interest margin expected to remain around 4.20% if rate environment holds steady.

• Continued focus on acquiring new customers, expanding relationships, and prudent portfolio management.

• Ongoing investments in talent, technology, and facilities, supported by strong capital generation.

• Continued focus on improving portfolio quality and proactive credit management.