LARK

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

PRESS

RELEASE

FOR

IMMEDIATE RELEASE

October 28, 2026

Landmark Bancorp, Inc. Reports Third Quarter 2026 Results

Announces Third Quarter 2026 Net Earnings Growth of 1.5%

Manhattan, KS – Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.89 for the third quarter of 2026, compared to $0.88 per share in the second quarter of 2026 and $0.81 per share in the same quarter of the prior year. Net earnings for the third quarter totaled $5.5 million, compared to $5.4 million in the prior quarter and $4.9 million in the third quarter of 2025. For the three months ended September 30, 2026, the return on average assets was 1.36%, the return on average equity was 13.06%, and the efficiency ratio(1) was 63.0%.

For the first nine months of 2026, diluted earnings per share totaled $2.59, compared to $2.29 during the same period in 2025. Net earnings for the first nine months of 2026 totaled $15.9 million, compared to $14.0 million in the first nine months of 2025, an increase of 13.5%, driven primarily by higher net interest income. For the nine months ended September 30, 2026, the return on average assets was 1.33%, the return on average equity was 12.98%, and the efficiency ratio(1) was 62.5%.

Third Quarter 2026 Performance Highlights

●Return on average assets improved to 1.36%, compared to 1.35% in the prior quarter and 1.21% in the third quarter of 2025.

●Return on average equity was 13.06%, compared to 13.23% in the prior quarter and 13.00% in the third quarter of 2025.

●Net interest margin increased 13 basis points from the prior quarter to 4.35%, and improved 52 basis points compared to the third quarter of 2025. Net interest income expanded to $15.6 million, an increase of 3.7% as compared to the prior quarter and an increase of 11.0% from the same quarter in 2025.

●Non-interest-bearing deposits ended the quarter at 29.3% of total deposits while total deposit costs improved to 1.29%, a decrease of one basis point as compared to the prior quarter and a decrease of 30 basis points from the third quarter of 2025.

●Net charge-offs as a percentage of average loans decreased to 0.01%, compared to 0.17% in the prior quarter and 0.83% in the third quarter of 2025.

●Allowance for credit losses increased to $12.9 million which was 1.19% of gross loans outstanding at September 30, 2026, an increase over 1.15% at June 30, 2026 and 1.10% at September 30, 2025.

●Tangible common equity to assets(1) was 8.09% as of September 30, 2026, compared to 8.44% as of June 30, 2026 and 7.66% as of September 30, 2025.

●Book value per share was $26.24 as of September 30, 2026, compared to $27.35 as of June 30, 2026. Tangible book value per share(1) was $20.68 as of September 30, 2026, compared to $21.76 as of June 30, 2026.

(1) Non-GAAP financial measure. See the “Non-GAAP Financial Measures” section of this press release for a reconciliation.

“I am pleased with Landmark’s solid third quarter results, highlighted by continued revenue growth and strong profitability, supported by further expansion in our net interest margin. Our third quarter net interest margin increased to 4.35%, reflecting the effectiveness of our disciplined loan and deposit pricing strategies, as well as prudent funding management. Our core commercial and retail customer deposits remain strong, including our non-interest-bearing balances, sustaining our attractive low-cost deposit base,” said Abby Wendel, President and Chief Executive Officer.

“Our focus remains on building a resilient, relationship-driven franchise supported by meaningful customer relationships across the markets we serve. Looking ahead, we are focused on achieving sustainable growth, delivering exceptional customer service, and creating long-term value for our shareholders, customers, and the communities we serve.”

Earnings Conference Call

Landmark will host a conference call to review the Company’s third quarter financial results at 10:00 a.m. (Central time) on Thursday, October 29, 2026. Interested parties may participate via telephone by dialing (833) 461-5787 and using Meeting ID 373 544 883. A replay of the call will be available through November 5, 2026, by dialing (833) 309-1852 and using Meeting ID 373 544 883.

SUMMARY

OF THIRD QUARTER RESULTS

Net Interest Income

Net interest income in the third quarter of 2026 totaled $15.6 million, representing an increase of $562,000, or 3.7%, compared to the prior quarter and an increase of $1.5 million, or 11.0%, compared to the same quarter of the prior year. The increase in net interest income this quarter compared to both the prior quarter and the third quarter of 2025 was driven by higher rates on interest-earning assets despite lower average balances, partially offset by higher interest expense on other borrowings. The net interest margin for the third quarter of 2026 was 4.35%, an increase of 13 basis points from 4.22% during the prior quarter and

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