- Logansport Financial Corp. (LOGN, Financial) reported a 40.7% increase in net earnings for Q1 2025.
- Total assets rose to $266.2 million, marking a $22.7 million increase year-over-year.
- Shareholders received a dividend of $0.45 per share in the first quarter of 2025.
Logansport Financial Corp. (LOGN), the parent company of Logansport Savings Bank, reported a significant increase in its financial performance for the first quarter ending March 31, 2025. The company registered net earnings of $377,000, or $0.61 per diluted share, compared to $268,000, or $0.44 per diluted share, in the same quarter of the previous year.
The company's total assets saw a notable rise, reaching $266.2 million, up from $243.5 million in the prior year. This growth was influenced by an increase in loans, which amounted to $172.3 million, a jump from the previous year's $168.5 million. Deposits also expanded significantly to $229.5 million, compared to $194.6 million in Q1 2024.
Improvements were observed in Logansport Financial's net interest income, which increased to $1,922,000 from $1,614,000 year-over-year. Additionally, the company enhanced its liquidity position as cash and cash equivalents surged to $21.4 million from $2.6 million. Meanwhile, Federal Home Loan Bank (FHLB) borrowings were reduced to $15 million from $26.1 million, reflecting effective financial management.
Shareholders benefited from the company's strong performance, receiving a dividend of $0.45 per share in the first quarter of the year.
