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Landmark Community Bank

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Landmark Community Bank

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Landmark Bancorp, Inc., the parent company of Landmark Community Bank headquartered in Pittston, PA, announced record year to date earnings for the nine months ending September 30, 2010 with net income of $1.2 million. Net income increased nearly 55% compared to net income of $775 thousand through September 2009. Earnings per share improved to 73 cents per share compared to 47 cents during the first nine months of 2009. Book value per share was $10.99, an increase of more than 11% from the $9.89 book value per share a year ago. The 2010 performance produced an annualized return on average assets of .83% and an annualized return on average equity of 8.83%

Daniel R. Nulton, President and Chief Executive Officer, commented, “We are very pleased with our results and the record profitability is especially noteworthy considering the bank opened the new Hazleton branch in January.”

Core banking activities remain strong with asset growth of 10.7%, loan growth of 8.5% and deposit growth of 9.5% compared to September 30, 2009. More importantly during that same time period, non-interest bearing checking accounts continue on a path of substantial growth increasing more than 24%. Landmark’s Tier 1 leverage ratio, an indicator of bank strength, was 8.77%. Banks are considered to be well capitalized when the Tier 1 Leverage ratio is 6.0%.

The Hazleton branch, which opened on January 11, 2010 has exceeded our expectations and offers a new market for future growth.

LLandmark Community Bank maintains a FIVE STAR, Superior rating from BauerFinancial, Inc, one of the nation’s leading independent bank rating companies.

Landmark Community Bank, with full service offices in Pittston, Forty Fort, Scranton and Hazleton as well as a loan production office in Stroudsburg, serves consumer, business, professional, institutional and municipal clients throughout Luzerne, Lackawanna and Monroe Counties.

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