Landmark Bancorp Q3 EPS rises 10%, net interest income up 11%
LARK•Landmark Bancorp’s third-quarter diluted EPS rose 10% to $0.89, while net income increased to $5.47 million from $4.9 million a year earlier. Net interest income grew 11% to $15.64 million.
1. Quarterly results
Landmark Bancorp reported third-quarter net income of $5.47 million, up from $4.9 million a year earlier, and diluted EPS of $0.89 compared with $0.81. Net interest income increased 11% to $15.64 million.
2. Income drivers
The company’s net interest margin increased to 4.35%, which it attributed to higher rates on interest-earning assets and disciplined loan and deposit pricing. Non-interest income declined because of lower gains on loan sales as secondary-market volume decreased.
