-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PL6HazDhoDn53SNeST1ZYnSYVloBPkRznaqqFyT0MNlkypjAZUc6r6Z3t6ZhofGa N7AcgfkAqPQAHYhI+RtKgg== 0000908834-04-000047.txt : 20040203 0000908834-04-000047.hdr.sgml : 20040203 20040203164010 ACCESSION NUMBER: 0000908834-04-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040203 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOGANSPORT FINANCIAL CORP CENTRAL INDEX KEY: 0000939928 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 351945736 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25910 FILM NUMBER: 04563500 BUSINESS ADDRESS: STREET 1: 723 E BROADWAY STREET 2: PO BOX 569 CITY: LOGANSPORT STATE: IN ZIP: 46947 BUSINESS PHONE: 2197223855 MAIL ADDRESS: STREET 1: 723 EAST BROADWAY STREET 2: P O BOX 569 CITY: LOGANSPORT STATE: IN ZIP: 46947 8-K 1 log8k_0203.txt LOGANSPORT 8-K 02/03/04 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------ FORM 8-K ------------------------ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 3, 2004 LOGANSPORT FINANCIAL CORP. (Exact name of registrant as specified in its charter) INDIANA (State or other jurisdiction of incorporation) 0-25910 35-1945736 (Commission File Number) (IRS Employer Identification No.) 723 East Broadway P.O. Box 569 Logansport, Indiana 46947 (Address of principal executive offices)(Zip Code) Registrant's telephone number, including area code: (574) 722-3855 Item 7. Financial Statements and Exhibits. (c) Exhibits 99.1 Press Release dated February 3, 2004. Item 12. Results of Operations and Financial Condition. Logansport Financial Corp., an Indiana corporation ("Registrant"), issued a press release which was publicly disseminated on February 3, 2004, announcing its results of operations for the three and twelve months ended December 31, 2003. A copy of the press release is furnished herewith as Exhibit 99.1. Pursuant to General Instruction B.6 of Form 8-K, this exhibit is not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, but is instead furnished as required by that instruction. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. /s/ Dottye Robeson ----------------------------------- Dottye Robeson, Secretary/Treasurer Dated: February 3, 2004 EX-99.1 3 ex991_0203.txt EARNINGS RELEASE Exhibit 99.1 Press Release For Immediate Release Contact: Dottye Robeson Chief Financial Officer Phone-574-722-3855 Fax-574-722-3857 Logansport Financial Corp. Reports Net Earnings for the Three and Twelve Months Ended December 31, 2003 Logansport, Indiana (February 3, 2004) Logansport Financial Corp., (NASDAQ Small Cap Market, LOGN), parent company of Logansport Savings Bank, reported net earnings for the year ended December 31, 2003 of $1.5 million , a decrease of $28,000 or 1.8%, compared to the year ended December 31, 2002. Diluted earnings per share amounted to $1.68 compared to $1.58 for the year ended December 31, 2002, a 6.3% increase. The decrease in net earnings was primarily attributable to a $339,000 decrease in net interest income, and a $55,000, or 2.4% increase in general, administrative and other expense, which were partially offset by an increase of $185,000 in gain on sale of securities and a $118,000 gain on sale of loans The decrease in net interest income was due primarily to the overall industry trend toward compressed net interest margins, and the decline in the balance of the loan portfolio. Net earnings for the three months ended December 31, 2003 was $365,000 compared to the $448,000 in net earnings reported for the three months ended December 31, 2002. Diluted earnings per share for the three months ended December 31, 2002 amounted to $.41, compared to diluted earnings per share of $.50 in the quarter ending December 31, 2002. During 2003, the loan portfolio decreased by $8.0 million, to a total of $102.4 million at December 31, 2003, while deposits increased by $5.4 million to a total of $103.8 million at December 31, 2003. Total assets increased from $150.1 million at December 31, 2002 to $156.8 million at December 31, 2003. LOGANSPORT FINANCIAL CORP. SELECTED FINANCIAL DATA (Unaudited) (Dollars in thousands, except for share data)
12/31/03 12/31/02 Total assets $ 156,824 $150,099 Loans receivable, net 102,353 110,386 Allowance for loan losses 1,751 1,458 Cash and cash equivalents 14,403 13,517 Securities available for sale 32,549 19,069 Federal Home Loan Bank stock 2,080 2,003 Equity investment 950 1,026 Deposits 103,757 98,325 Borrowings 35,946 35,629 Shareholders' equity 16,356 15,373 Shares O/S end of period 877,444 848,958 Nonperforming loans 1,515 1,484 Real estate owned - -
Quarter ended 12/31 Twelve months ended 12/31 2003 2002 2003 2002 Interest income $2,087 $2,326 $8,602 $9,326 Interest expense 1,099 1,196 4,492 4,877 Net interest income 988 1,130 4,110 4,449 Provision for loan losses 90 90 360 360 Net interest income after provision 898 1,040 3,750 4,089 Gain on sale of investments 54 84 286 101 Gain on sale of loans 12 - 118 - Loss on equity investment (20) (30) (96) (107) Total other income 116 107 353 358 Total general, admin. & other expense 591 561 2,373 2,318 Earnings before income taxes 469 640 2,038 2,123 Income tax expense 104 192 552 609 Net earnings $365 $448 $1,486 $1,514 ---- ---- ------ ------ Basic earnings per share $.42 $.51 $ 1.72 $1.63 Diluted earnings per share $.41 $.50 $1.68 $1.58 Weighted average shares o/s 877,444 851,338 864,026 929,488
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