LOGANSPORT, Ind., July 17, 2019 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended June 30, 2019 of $561,000 or $.91 per diluted share, compared to earnings in 2018 of $578,000 or $.93 per diluted share. Year to date the company reported net earnings of $1,061,000 for 2019 compared to $1,115,000 for 2018. Diluted earnings per share for the six months ended June 30, 2019 were $1.72 compared to $1.80 for the six months ended June 30, 2018. Total assets at June 30, 2019 were $183.3 million compared to total assets at December 31, 2018 of $174.9 million. Dividends paid to shareholders at June 30, 2019 are $2,143,000 compared to dividends paid at June 30, 2018 of $404,000. This year’s dividend amount includes the special dividend of $2.75 which was paid in the first quarter of 2019.

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 evaluation of 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)

		06/30/2019			06/30/2018
Total assets		$183,389			$174,993
Loans receivable, net			112,882			117,026
Allowance for loan losses			1,742			1,682
Cash and cash equivalents			17,759			7,386
Securities available for sale			27,057			27,315
Investment in Logansport Investments, Inc.			19,214			16,415
Federal Home Loan Bank stock			731			731
Equity Investment			-			-
Deposits			158,308			150,541
FHLB Borrowings and note payable			-			-
Shareholders’ equity			23,551			22,796
Shares O/S end of period			616,843			620,662
Non-accrual loans			282			290
Real Estate Owned			-			-

	Quarter ended 6/30		Six months ended 6/30
	2019	2018	2019	2018
Interest income	$1,853	$1,693	$3,627	$3,303
Interest expense	413	279	784	497
Net interest income	1,440	1,414	2,843	2,806
Provision for loan losses	-	-	-	-
Net interest income after provision	1,440	1,414	2,843	2,806
Gain on sale of Investments	72	-	72	-
Gain on sale of loans	44	24	64	50
Loss on sale of REO	-	-	(6)	-
Total other income	206	258	370	434
Gain(loss) on Logansport Investments, Inc.	128	116	253	228
Gain (loss) on equity investment	-	-	-	-
Total general, admin. & other expense	1,215	1,106	2,332	2,160
Earnings before income taxes	675	706	1,264	1,358
Income tax expense	114	128	203	243
Net earnings	$561	$578	$1,061	$1,115
Basic earnings per share	$.91	$.93	$1.72	$1.80
Diluted earnings per share	$.91	$.93	$1.72	$1.80
Weighted average shares o/s diluted	616,825	620,662	616,825	620,662

Contact: Chad Higgins Chief Financial Officer Phone-574-722-3855 Fax-574-722-3857

Source: Logansport Financial Corp.

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