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Logansport Financial Corp. Reports Net Income for the Year Ended December 31, 2008

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^{Published in Business and Finance on Thursday, February 19th 2009 at 10:16 GMT, Last Modified on 2009-02-19 10:18:04 by Market Wire}  

LOGANSPORT, Ind.--([ BUSINESS WIRE ])--Logansport Financial Corp., (OTCBB: LOGN), parent company of Logansport Savings Bank, reported net income for the year ended December 31, 2008 of $1,533,000, or $1.82 per diluted share compared to net income in 2007 of $762,000, or $.87 per diluted share.

The Company reported total assets of $172.9 million at December 31, 2008, an increase of $16.1 million compared to the $156.8 million at December 31, 2007. Total deposits increased by $4.7 million to $116.4 million, while total loans increased by $3.4 million to a net balance of $111.4 million at December 31, 2008. Shareholder's equity totaled $17.8 million, or 10.3% of total assets at December 31, 2008. During the year the Company repurchased 87,000 shares of its outstanding common stock.

The record date for annual meeting is March 11, 2009. The annual meeting of shareholders will be held on May 12, 2009 at 2:00 P.M., local time at Logansport Savings Bank with the election of directors to take place. The directors of Logansport Financial Corp. have declared a quarterly cash dividend of $.15 on each share of its common stock for the first quarter of 2009. The dividend is payable on April 10, 2009 to holders of record on March 11, 2009.

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 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.