Landmark Bancorp Inc. · NASDAQ:LARK
Landmark Bancorp — Shareholder Meeting (May 2022)
30 slides from Landmark Bancorp's shareholder meeting presentation, May 18, 2022
Slide 1: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 18, 2022 Manhattan, KS
Slide 2: Voting on Proposals
Voting on Proposals Proposal 1: • To elect three Class III directors for a term of three years – Patrick L. Alexander – Jim W. Lewis – Michael E. Scheopner • Board recommends a vote FOR each nominee Proposal 2: • Advisory vote to approve the compensation of named certain executive officers • Board r
Slide 3: Voting on Proposals
Voting on Proposals Proposal 3: • Ratification of Crowe LLP as Independent Registered Public Accounting Firm • Board recommends a vote FOR this proposal
Slide 4: Voting Results and Adjournment of Formal Business Meeting
Voting Results and Adjournment of Formal Business Meeting
Slide 5: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 18, 2022 Manhattan, KS
Slide 6: Disclaimers
Disclaimers Special Note Concerning Forward-Looking Statements A number of statements we will be making in our presentation and in the accompanying slides are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements of the Landmark’s
Slide 7: Landmark Corporate Profile
Landmark Corporate Profile Landmark Bancorp is the holding company for Landmark National Bank, a community banking organization serving 24 communities across Kansas • Shares Outstanding (1) 5.0 million • Market Cap (2) $127.7 million • Total Assets (3) $1.3 billion • Total Deposits (3) $1.1 billion
Slide 8: Landmark Stock (NASDAQ: LARK)
Landmark Stock (NASDAQ: LARK) • Price-to-Book Value 94% • Price-to-Tangible Book Value 108% • Price-to-2021 Earnings 7.1x • Dividend Yield 3.3% • Book Value Per Share $27.14 • TBV Per Share $23.62 Based on financial information as of March 31, 2022 and the April 29, 2022 closing price of $25.55 per
Slide 9: Track Record for Dividends
Track Record for Dividends • Quarterly cash dividends currently $0.21 / share – Landmark’s 2022 1st quarter cash dividend increased over 2021 by 10.3% – Landmark has approved 83 consecutive quarterly cash dividends since its formation in October 2001 • Annual stock dividends for 21 consecutive years
Slide 10: Financial Highlights – Quarterly Trends
(Dollars in millions) Financial Highlights – Quarterly Trends
Slide 11: Financial Highlights – Quarterly Trends
Financial Highlights – Quarterly Trends
Slide 12: Financial Highlights
Financial Highlights Net Earnings Net Interest Income (Dollars in Millions) (Dollars in Millions) $25.0 4 $40.0 4 $36.5 $38.3 19.5 $35.0 + 320.0 | $ $180 ee ea $15.0 $25.0 + $10.7 $20.0 + $10.0 + $15.0 4 $5.0 | $3.1 $10.0 | $5.0 +4 s00 ew! 2019 2020 2021 Q1 2022 2019 2020 2021 le 2022 rex ALAND Sco
Slide 13: Financial Highlights
Financial Highlights $4.50 4 $4.00 + $3.50 + $3.00 4 $2.50 | $2.00 4 $1.50 4 $1.00 4 $0.50 4 $0.00 + 2.00% 4 1.80% + 1.60% + 1.40% ~ 1.20% ~ 1.00% ~ 0.80% + 0.60% - 0.40% + 0.20% + 0.00% - $2.10 2019 Earnings per Share $3.91 $3.60 2020 2021 Return on Average Assets $0.62 Qi 2022 0.97% Qi 2022 $1.00
Slide 14: Financial Highlights
Financial Highlights Total Assets Net Loans (Dollars in Millions) (Dollars in Millions) $1500.0 - $800.0 5 , $1,329.0 $1,306.4 $702.8 Oo 4 $1,188.0 $653.2 $625.1 $1,250.0 «ove $600.0 + $532.2 $1,000.0 + . $aoo.0 4 $750.0 + $500.0 + $200.0 + $250.0 + $0.0 1 r r $0.0 4 r r 1 2019 2020 2021 Qi 2022 201
Slide 15: Stable and Diversified Non-Interest Income
Stable and Diversified Non-Interest Income Quarter ended March 31, 2021 Quarter ended March 31, 2022 Total $6.7 million Total $3.6 million Bank owned Other $0.3 life insurance Other Bank owned $0.3 million million $0.2 million life insurance $0.2 million Gains on sales Fees and service of investment
Slide 16: Solid Low-cost Deposit Base
Solid Low-cost Deposit Base As of March 31, 2022 Solid deposit portfolio: CDs – Low cost of deposits was 9.1% 0.10% Non-interest Savings bearing – Primary funding is from core 14.7% 30.7% deposits (98% of total deposits) – Geographically located across state of Kansas – Mix of account types and inte
Slide 17: Strong Capital Base
Strong Capital Base Risk Based Capital Ratio as of March 31, 2022 20.00% 15.00% 9.02% 8.71% 10.00% 5.00% 10.50% 10.50% 0.00% LBI LNB Adequate Well capitalized Excess capital
Slide 18: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 18, 2022 Manhattan, KS
Slide 19: Diverse Loan Portfolio
Diverse Loan Portfolio As of March 31, 2022 Loan portfolio diversification: Commercial – Attractive yield on loans of 1-4 Family RE 26.8% 20.1% 4.59% – Geographically across state PPP of Kansas 0.8% – Across loan categories and Other 4.2% collateral types Owner Occupied Construction CRE and Land 20.
Slide 20: Asset Quality
Asset Quality ALLL to Gross Loans ALLL to Non-performing Loans 1.34% 9 1.32% 1.32% 200.00% 4 178.72% 1.32% + 180.00% ~ 167.78% 1.30% + 160.00% + 1.28% + 140.00% ~ 116.61% 1.26% + 120.00% + 1.24% + 1.23% 100.00% + 83.45% 1.22% + 1.20% 80.00% -~ 1.20% + 60.00% -~ 1.18% : 40.00% - 1.16% : 20.00% ~ 1.14
Slide 21: Asset Quality
Asset Quality $14.0 $12.0 $10.0 $8.0 $6.0 $4.0 $2.0 $0.0 1.60% 4 1.40% + 1.20% + 1.00% + 0.80% + 0.60% + 0.40% + 0.20% + 0.00% = Non-performing Assets (Dollars in Millions) . ww WSS Tr 2019 2020 2021 Q1 2022 mNon-accrualLoans «ORE Non-performing Loans to Loans 1.47% 1.03% 0.79% 0.74% T T T 2019 2020
Slide 22: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 18, 2022 Manhattan, KS
Slide 23: Track Record of Organic & Acquisitive Growth
Track Record of Organic & Acquisitive Growth Acquired First Kansas Acquired First Acquired Wellsville Acquired two Financial Corp. ($152M Manhattan Bancorp. Bank ($36M in assets) commercial banking in assets) ($130M in assets) teams (one in May and one in December) Completed merger Acquired 2 branch
Slide 24: Kansas Commercial Banks
Kansas Commercial Banks Number Total Assets of Banks $0-$100 million 68 $100 million - $250 million 67 $250 million - $500 million 37 $500 million - $1 billion 17 > $1 billion 15 Total 204 At $1.3 billion in assets, Landmark is the 10th largest bank headquartered in Kansas With 204 banks headquarter
Slide 25: Landmark Investment Rationale
Landmark Investment Rationale • Strong asset quality and capital • Diversified loan portfolio and low-cost core deposit base • Stable non-interest income levels, including a history of proven mortgage loan production • Consistent dividend history • Significant opportunities for consolidation • Track
Slide 26: Strategy for Continued Performance
Strategy for Continued Performance • Continue rigorous management disciplines • Refine and improve new business targeting and recruitment strategies • Capitalize on mortgage banking capabilities and infrastructure • Continue efforts to grow profitably – organically and through acquisitions • Control
Slide 27: The Landmark Team
The Landmark Team • Associates • Board of Directors • Shareholders
Slide 28: Questions
Questions /AALANDMARK ees BANCORP, INC.
Slide 29: Thank you for attending today’s meeting!
Thank you for attending today’s meeting!
Slide 30: Landmark – A Star in Each Community
Landmark – A Star in Each Community