Logansport Financial Corp. Reports Earnings for the Three and Twelve Months Ended December 31, 2010

LOGANSPORT, Ind.--([ BUSINESS WIRE ])--Logansport Financial Corp., (OTCBB: LOGN), parent company of Logansport Savings Bank, reported net earnings for the three and twelve months ended December 31, 2010.

Net earnings for the three months ended December 31, 2010 totaled $344,000, compared to the $264,000 in net earnings reported for the three months ended December 31, 2009.

Net earnings for the year ended December 31, 2010 totaled $1,170,000, compared to the $1,180,000 reported for the year ended December 31, 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 Companya�s investments and borrowers, changes in economic conditions in the Companya�s market area, changes in policies of regulatory agencies, fluctuations in interest rates, demand for loans in the Companya�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.

LOGANSPORT FINANCIAL CORP.
SELECTED FINANCIAL DATA (Unaudited)
(Dollars in thousands except for share data)

		12/31/10		12/31/09

Total assets	$	151,239	$	162,230

Loans receivable, net		113,749		111,736
Allowance for loan losses		1,636		1,505
Cash and cash equivalents		4,287		9,876
Securities available for sale		25,833		32,924
Federal Home Loan Bank stock		1,895		2,053
Equity Investment		357		405
Deposits		111,254		110,563
FHLB borrowings and note payable		19,644		31,645
Shareholdersa� equity		19,300		18,680
Shares O/S end of period		785,817		783,701
Nonperforming loans		1,656		1,685
Real Estate Owned		465		436

	Quarter ended 12/31						Year ended 12/31
	2010			2009			2010				2009

Interest income	$	1,907		$	2,114		$	7,808		$	8,592
Interest expense		599			957			2,967			4,027
Net interest income		1,308			1,157			4,841			4,565
Provision for loan losses		180			210			720			560
Net interest income after provision		1,128			947			4,121			4,005
Gain on sale of investment/assets		56						56			40
Gain on sale of loans		99			14			205			98
Loss on equity investment		(20	)		(11	)		(48	)		(50	)
Loss on sale of REO		(35	)	3				(55	)		(3	)
Other income		128			131			474			552
Total general, admin & other expense		903			808			3,249			3,216
Earnings before income taxes		453			276			1,504			1,426
Income tax expense		109			12			334			246
Net earnings	$	344		$	264		$	1,170		$	1,180

Contributing Sources

Market Wire

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Logansport Financial Corp. Reports Earnings for the Three and Twelve Months Ended December 31, 2010