LOGANSPORT, Ind., Jan. 28, 2019 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB- LOGN), parent company of Logansport Savings Bank, reported net earnings for the three and twelve months ended December 31, 2018. 

Net earnings for the three months ended December 31, 2018 totaled $560,000, compared to the $503,000 in net earnings reported for the three months ended December 31, 2017.   

Net earnings for the year ended December 31, 2018 totaled $2,231,000, compared to the $1,990,000 reported for the year ended December 31, 2017.  Earnings per share were $3.59 for December 31, 2018, compared to $3.21 for December 31, 2017.  Return on Assets finished the year at 1.29% for 2018 compared to 1.18% for 2017.  The Return on Equity finished the year at 9.41% for December 31, 2018, compared to 8.71% for December 31, 2017.    

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 of 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)
 
 12/31/18 12/31/17 
    
Total assets      $173,245 $168,500 
          
Loans receivable, net      108,372 107,897 
Allowance for loan losses      1,735 1,646 
Cash and cash equivalents      10,058 6,431 
Securities available for sale      47,751 46,448 
Federal Home Loan Bank stock      731 731 
Equity Investment      - - 
Deposits      148,049 141,028 
FHLB borrowings and note payable      - 3,000 
Accrued Interest and other liabilities      1,487 1,671 
Shareholders’ equity      23,709 22,801 
Shares Issued and Outstanding      621,022 619,773 
Nonperforming loans      293 524 
Real Estate Owned      20 - 
 
 Quarter ended 12/31 Year ended 12/31
 2018 2017  2018 2017 
 
Interest income $2,040 $1,872  $7,445 $7,021 
Interest expense 351 184  1,151 676 
Net interest income 1,689 1,688  6,294 6,345 
Provision for loan losses - -  - (21)
Net interest income after provision 1,689 1,688  6,294 6,324 
Gain on sale of investment/assets 5 26  5 26 
Gain/Loss on sale of REO - (10) - (7)
Gain on sale of loans 35 55  126 161 
Other income 139 111  754 657 
Total general, admin & other expense 1,163 1,137  4,440 4,354 
Earnings before income taxes 705 733  2,739 2,807 
Income tax expense 145 230  508 817 
Net Income  $560 $503  $2,231 $1,990 
           

Contact: Chad Higgins
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857