Landmark Bancorp (LARK) Q1 2026 earnings summary

Executive summary

• Achieved record total revenue of $18.8 million for Q1 2026, with EPS up 6.7% year-over-year to $0.83 and net income of $5.1 million, driven by net interest income growth and prudent expense management.

• Return on assets increased to 1.29%, up from 1.17% in Q4 2025 and 1.21% in Q1 2025.

• Board declared a $0.21 per share cash dividend, marking the 99th consecutive quarterly dividend, payable May 28, 2026.

Financial highlights

• Net interest income reached $15 million, up 1.6% sequentially and 14.5% year-over-year; net interest margin expanded to 4.24%.

• Non-interest income was $3.8 million, down $135,000 sequentially but up $406,000 year-over-year, mainly from higher gains on loan sales.

• Non-interest expense was $11.9 million, down 3.0% sequentially but up 10.6% year-over-year, with increased fraud losses and higher costs for system upgrades.

• Effective tax rate was 19.8% for Q1 2026.

• Book value per share rose to $26.50; tangible book value per share increased to $20.89.

Outlook and guidance

• Focus remains on targeted investments in revenue-generating activities, efficiency improvements, and risk oversight to ensure resilience.

• Continued emphasis on disciplined underwriting, proactive risk management, and strengthening capital position.