Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
LOGANSPORT, Ind., Oct. 11, 2017 -- Logansport Financial Corp., (OTCBB:LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended September 30, 2017 of $499,000 or $.81 per diluted share, compared to earnings in 2016 of $535,000 or $.86 per diluted share. Year to date the company reported net earnings of $1,487,000 for 2017 compared to $1,540,000 for 2016. Diluted earnings per share for the nine months ended September 30, 2017 were $2.40 compared to $2.49 for the nine months ended September 30, 2016. Total assets at September 30, 2017 were $167.9 million compared to total assets at September 30, 2016 of $170.1 million. Total shares outstanding of Logansport Financial Corp. stock at September 30, 2017 are 619,773.
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 evaluating 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 (Unaudited) | ||||||||||||||||
| (Dollars in thousands, except for share data) | ||||||||||||||||
| 9/30/17 | 9/30/16 | |||||||||||||||
| Total assets | $ | 167,939 | $170,128 | |||||||||||||
| Loans receivable, net | 113,730 | 119,750 | ||||||||||||||
| Allowance for loan losses | 1,641 | 1,711 | ||||||||||||||
| Cash and cash equivalents | 4,620 | 3,674 | ||||||||||||||
| Securities available for sale | 27,570 | 27,576 | ||||||||||||||
| Investment in Logansport Investments, Inc. | 14,682 | 12,266 | ||||||||||||||
| Federal Home Loan Bank stock | 731 | 731 | ||||||||||||||
| Equity Investment | - | - | ||||||||||||||
| Deposits | 142,730 | 144,856 | ||||||||||||||
| FHLB Borrowings and note payable | 1,000 | 1,000 | ||||||||||||||
| Shareholders’ equity | 22,546 | 22,928 | ||||||||||||||
| Shares O/S end of period | 619,773 | 619,113 | ||||||||||||||
| Non-accrual loans | 3,028 | 873 | ||||||||||||||
| Real Estate Owned | 40 | - | ||||||||||||||
| Quarter ended 9/30 | Nine months ended 9/30 | |||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||
| Interest income | $ | 1,621 | $ | 1,646 | $ | 4,864 | $ | 4,909 | ||||||||
| Interest expense | 184 | 130 | 492 | 387 | ||||||||||||
| Net interest income | 1,437 | 1,516 | 4,373 | 4,522 | ||||||||||||
| Provision for loan losses | 21 | - | 21 | - | ||||||||||||
| Net interest income after provision | 1,416 | 1,516 | 4,352 | 4,522 | ||||||||||||
| Gain on sale of loans | 49 | 44 | 106 | 130 | ||||||||||||
| Gain on sale of REO | - | (2 | ) | 3 | (2 | ) | ||||||||||
| Total other income | 216 | 172 | 545 | 475 | ||||||||||||
| Gain(loss) on Logansport Investments, Inc. | 99 | 78 | 285 | 229 | ||||||||||||
| Gain (loss) on equity investment | - | - | - | (82 | ) | |||||||||||
| Total general, admin. & other expense | 1,085 | 1,043 | 3,217 | 3,081 | ||||||||||||
| Earnings before income taxes | 695 | 765 | 2,074 | 2,191 | ||||||||||||
| Income tax expense | 196 | 230 | 587 | 651 | ||||||||||||
| Net earnings | $ | 499 | $ | 535 | $ | 1,487 | $ | 1,540 | ||||||||
| Basic earnings per share | $ | 0.81 | $ | 0.86 | $ | 2.40 | $ | 2.49 | ||||||||
| Diluted earnings per share | $ | 0.81 | $ | 0.86 | $ | 2.40 | $ | 2.49 | ||||||||
| Weighted average shares o/s diluted | 619,773 | 619,113 | 619,773 | 619,113 | ||||||||||||
Contact: Chad Higgins
Chief Financial Officer
Phone-574-722-3855
Fax-574-722-3857
