Logansport Financial Corp., (OTCBB: LOGN), parent company of Logansport Savings Bank, reported net earnings for the three and twelve months ended December 31, 2016.

Net earnings for the three months ended December 31, 2016 totaled $512,000, compared to the $507,000 in net earnings reported for the three months ended December 31, 2015.

Net earnings for the year ended December 31, 2016 totaled $2,051,000, compared to the $1,878,000 reported for the year ended December 31, 2015. Earnings per share were $3.27 for December 31, 2016, compared to $2.95 for December 31, 2015. Return on Assets finished the year at 1.21% for 2016 compared to 1.11% for 2015. Logansport Financial Corp. also paid out $629,000 in quarterly dividends to shareholders in 2016, compared to $478,000 in 2015. The year ended 2016 represented record results in all of these respective financial statistical categories.

The statements contained in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involves a number of risks and uncertainties. A number of factors could cause results to differ materially from the objectives and estimates expressed in such forward-looking statements. These factors include, but are not limited to, changes in the financial condition of issuers of the Company’s investments and borrowers, changes in economic conditions in the Company’s market area, changes in policies of regulatory agencies, fluctuations in interest rates, demand for loans in the Company’s market area, changes in the position of banking regulators on the adequacy of our allowance for loan losses, and competition, all or some of which could cause actual results to differ materially from historical earnings and those presently anticipated or projected. These factors should be considered in evaluation any forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

LOGANSPORT FINANCIAL CORP.

SELECTED FINANCIAL DATA

(Dollars in thousands except for share data)

 
   

12/31/16

      

12/31/15

 
Total assets $ 170,388 $ 172,653
 
Loans receivable, net 118,792 113,106
Allowance for loan losses 1,672 1,727
Cash and cash equivalents 6,732 4,193
Securities available for sale 37,489 48,506
Investment in Logansport Investments, Inc. 12,454 10,021
Federal Home Loan Bank stock 731 731
Equity Investment - 132
Deposits 144,170 141,675
FHLB borrowings and note payable 2,000 8,000
Shareholders’ equity 22,378 21,862
Shares O/S end of period 619,525 632,348
Nonperforming loans 868 1,032
Real Estate Owned - 39
 

Quarter ended 12/31

Year ended 12/31

2016

2015

2016

2015

 
Interest income $ 1,723 $ 1,697 $ 6,963 $ 6,751
Interest expense 130 131 517 570
Net interest income 1,593 1,566 6,446 6,181
Provision for loan losses - - - -
Net interest income after provision 1,593 1,566 6,446 6,181
Gain on sale of investment/assets - - 21 -
Gain/Loss on sale of REO - - (2) (15)
Gain on sale of loans 29 27 160 84
Loss on equity investment - (15) (82) (60)
Other income 158 147 551 549
Total general, admin & other expense 1,051 993 4,163 3,955
Earnings before income taxes 729 732 2,931 2,784
Income tax expense 217 225 880 906
Net earnings $

512

 $

507

 $

2,051

 $

1,878