Landmark Bancorp Inc. · NASDAQ:LARK
Landmark Bancorp — Shareholder Meeting (May 2025)
30 slides from Landmark Bancorp's shareholder meeting presentation, May 21, 2025
Slide 1: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 21, 2025 Manhattan, KS
Slide 2: Voting on Proposals
Voting on Proposals Proposal 1: • To elect four Class III directors for a term of three years – Abigail M. Wendel – Patrick L. Alexander – Jim W. Lewis – Tom A. Page • Board recommends a vote “FOR” each nominee Proposal 2: • Advisory vote to approve the compensation of named certain executive office
Slide 3: Voting on Proposals
Voting on Proposals Proposal 3: • Approval of the say-on-frequency proposal • Board recommends a vote of “EVERY THREE YEARS” Proposal 4: • 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 21, 2025 Manhattan, KS
Slide 6: Disclaimers
Disclaimers Special Note Concerning Forward-Looking Statements This presentation contains forward-looking statements, within the meaning of such term in the Private Securities Litigation Reform Act of 1995, with respect to the financial condition, results of operations, plans, objectives, future per
Slide 7: Landmark Corporate Profile
Landmark Corporate Profile Landmark Bancorp is the holding company for Landmark National Bank, a community banking organization serving 23 communities across Kansas • Shares Outstanding (1) 5.8 million • Market Cap (2) $163.8 million • Total Assets (3) $1.6 billion • Total Deposits (3) $1.3 billion
Slide 8: Landmark Stock (NASDAQ: LARK)
Landmark Stock (NASDAQ: LARK) • Price-to-Book Value 115% • Price-to-Tangible Book Value 152% • Price-to-2024 Earnings 12.5x • Dividend Yield 3.0% • Book Value Per Share $24.69 • TBV Per Share $18.66 Based on financial information as of March 31, 2025 and the May 13, 2025 closing price of $28.35 per
Slide 9: Track Record for Dividends
Track Record for Dividends • Quarterly cash dividends currently $0.21 / share – Landmark’s 2025 1st quarter cash dividend increased 5% compared to 2024 – Landmark has approved 95 consecutive quarterly cash dividends since its formation in October 2001 • Annual stock dividends for 24 consecutive year
Slide 10: Financial Performance Highlights
Financial Performance Highlights Three months ended, (Dollars in thousands) March 31, December 31, March 31, 2025 2024 2024 Net earnings $ 4,701 $ 3,282 $ 2,778 Diluted EPS $ 0.81 $ 0.57 $ 0.48 Return on average assets 1.21% 0.83% 0.72% Return on average equity 13.71% 9.54% 8.88%
Slide 11: Financial Performance Highlights
Financial Performance Highlights Years ended December 31, (Dollars in thousands) 2024 2023 Net earnings $ 13,003 $ 12,236 Diluted EPS $ 2.26 $ 2.13 Return on average assets 0.83% 0.80% Return on average equity 10.01% 10.70%
Slide 12: Financial Ratios Highlights
Financial Ratios Highlights Three months ended March 31, Years ended December 31, (Dollars in thousands) 2025 2024 2023 Dividends per share $ 0.21 $ 0.80 $ 0.76 Net interest margin (TE) 3.76% 3.28% 3.17% Loans to deposits 79.48% 78.21% 71.23% Non-performing loans to gross loans 1.24% 1.25% 0.25% Non
Slide 13: Financial Highlights
Financial Highlights Return on Average Assets Net Interest Margin 130% 4 1.21% al 3.76% 1.20% + 3.70% + 3.51% 1.10% 3.50% + 1.00% 3.30% 3.30% + 3.21% 0.90% 3.12% 3.10% + 0.80% 0.70% 2.90% | 0.60% 2.70% + 0.50% 2.50% + T T T T Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1
Slide 14: Financial Highlights
Financial Highlights Assets Net Loans $1,600.0 5 $1,100.0 5 . $1,061.7 $4575.0 $1,574.1 $1,578.6 P 0 4 1,050.0 $1,5608 91563.7 $1,553.2 $1,550.0 + $1,000.0 $1,525.0 + $950.0 $1,500.0 + T 7 + + $900.0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Qi 2024 Q2.2024 Q3 2024 4.2024 Q1 2025 Deposits Total Stocho
Slide 15: Stable and Diversified Non-Interest Income
Stable and Diversified Non-Interest Income Quarter ended March 31, 2025 Quarter ended March 31, 2024 Total $3.4 million Total $3.4 million Bank owned Other Other life insurance $0.1 million $0.2 million Bank owned $0.3 million life insurance $0.2 million Gains on sales of loans $0.5 million Gains on
Slide 16: Solid Low-Cost Deposit Base
Solid Low-Cost Deposit Base Solid deposit portfolio: As of March 31, 2025 – Low cost of deposits was 2.17% CDs 15.3% Non-interest – Primary funding is from core bearing deposits (93% of total 27.6% deposits) Savings – Geographically located 11.2% across state of Kansas – Mix of account types and int
Slide 17: Strong Capital Base
Strong Capital Base Risk Based Capital Ratio as of March 31, 2025 15.00% 3.05% 3.06% 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 21, 2025 Manhattan, KS
Slide 19: Diverse Loan Portfolio
Diverse Loan Portfolio As of March 31, 2025 Loan portfolio diversification: Commercial – Attractive yield on loans of 1-4 Family RE 17.8% 6.34% 33.1% – Geographically across state of Kansas – Across loan categories and Owner Occupied CRE collateral types 19.1% Other 3.5% Construction and Land Nonown
Slide 20: Asset Quality
Asset Quality 1.25% 1.20% 1.15% 1.10% 1.05% 1.00% 0.95% 0.90% 0.03% 0.02% 0.02% 0.01% 0.01% 0.00% ACL to Gross Loans 1.22% 1.19% 1.12% i 2022 2023 2024 Q1 2025 Net Charge-offs to Average Net Loans 0.02% 0.01% 2024 Q1 2025 500.00% + 450.00% ~ 400.00% ~ 350.00% ~ 300.00% ~ 250.00% ~ 200.00% ~ 150.00%
Slide 21: Asset Quality
Asset Quality Non-performing Assets (Dollars in Millions) $16.0 $14.0 $12.0 $10.0 $8.0 $6.0 4.0 $ SNANANAS — = aaa $0.0 + r 7 1 2022 2023 2024 Q1 2025 @Non-accrual Loans SORE Non-performing Loans to Loans 140%: 9 1.25% 1.24% 1.20% + 1.00% + 0.80% + 0.60% + 0.39% 040% 7 0.25% 0.00% + T T 2022 2023 20
Slide 22: Annual Meeting of Stockholders
Annual Meeting of Stockholders May 21, 2025 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 Acquired Financial Corp. ($152M Manhattan Bancorp. Bank ($36M in assets) commercial banking Freedom in assets) ($130M in assets) teams (one in May Bancshares and one in ($200M in assets
Slide 24: Kansas Commercial Banks
Kansas Commercial Banks Number Total Assets of Banks $0-$100 million 55 $100 million - $250 million 60 $250 million - $500 million 35 $500 million - $1 billion 21 > $1 billion 17 Total 188 At $1.6 billion in assets, Landmark is the 9th largest bank headquartered in Kansas With 188 banks headquartere
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 • Make informed decisions and identify areas of growth through the analysis of real-time data insights • Enhance and invest in the associate experience • Refine and improve new business targeting and recruitment strategies • Capitalize on mortgage banking capabilit
Slide 27: The Landmark Team
The Landmark Team • Associates • Board of Directors • Shareholders
Slide 28: Questions
Questions /AALANDMARK lees BANCORP, INC.
Slide 29: Thank you for attending today's meeting!
Thank you for attending today’s meeting!
Slide 30: Serving Communities Across Kansas
Serving Communities Across Kansas