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What factors drove the changes in Landmark Bancorp's revenue and profit?

- **Record Q3 Earnings**: $4.9 million net income, 24.1% YoY growth, driven by 15% revenue increase. 
- **Stable Margin & Efficiency**: 3.83% net interest margin, efficiency ratio 60.7%.
- **Dividend Expansion**: $0.21 cash dividend + 5% stock dividend, marking 25 years of consecutive 5% stock dividends.
- **Credit Strength**: Nonperforming loans down 42%, allowance at 1.10% of loans, with Kansas unemployment at 3.8%.
- **Deposit Growth**: +$51.6 million deposits, 14% noninterest-bearing growth.

**【CEO Summary Section】**
- **Q3 2025 Financial Highlights**: Net income of $4.9 million ($0.85 EPS), up 24.1% YoY, driven by 15% YoY revenue growth. Return on assets improved to 1.21%, and return on equity to 13.0%. Efficiency ratio improved to 60.7%.
- **Loan Performance**: Average loans grew 10% annualized, with flat period-end balances. Nonperforming loans declined by $7 million, reflecting resolution of a large commercial loan.
- **Dividend Announcement**: $0.21 cash dividend (November 26) and 5% stock dividend (December 15), marking 97th consecutive quarterly dividend and 25th consecutive 5% stock dividend.
- **Strategic Focus**: Investment in talent, infrastructure, and customer relationships to support growth in lending and fee businesses.

**【CFO Financial Commentary】**
- **Net Interest Income**: Increased by $411,000 QoQ, with stable 3.83% net interest margin. Tax equivalent yield on loans remained steady at 6.37%.
- **Noninterest Income Growth**: $4.1 million, up $442,000 QoQ, driven by mortgage loan gains and fee income. Noninterest expense rose $290,000 QoQ due to consulting and occupancy costs.
- **Capital Management**: Tangible book value per share increased to $20.96, up 6.6% QoQ. Stockholders' equity grew $7.4 million to $155.7 million.
- **Liquidity**: Loan-to-deposit ratio of 83.4%, with $1.3 billion deposits, including $22.9 million CD growth and $14 million noninterest-bearing deposit increase.

**【CCO Credit Highlights】**
- **Portfolio Mix**: Commercial real estate and mortgage loans grew $19 million and $4.5 million, respectively, offset by declines in commercial and construction loans.
- **Credit Quality**: Nonaccrual loans decreased by $7 million, with net charge-offs of $2.3 million (mostly from resolved commercial loan). Allowance for credit losses at 1.10% of gross loans.
- **Economic Outlook**: Kansas unemployment at 3.8%, home sales up 1.2% YoY with 5.5% price growth, supporting stable credit environment.

**【Q&A Highlights】**
- No questions submitted during the session.

Landmark Bancorp, Inc. (LARK) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

LARK

LARK fundamentals

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