-----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, T7LO51w8305ez3WBZaWqLDTL1u0l3gKWDJ9Rx8VpKwUR47l+oMTQ02vdhmFMulsv XiuLP63VVkxTm4PVF6cH7A== 0000908834-96-000148.txt : 19960814 0000908834-96-000148.hdr.sgml : 19960814 ACCESSION NUMBER: 0000908834-96-000148 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960630 FILED AS OF DATE: 19960813 SROS: NASD 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: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-25910 FILM NUMBER: 96609611 BUSINESS ADDRESS: STREET 1: 723 EAST 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 10-Q 1 FORM 10-Q FOR LOGANSPORT FINANCIAL CORP. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1996 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____________ TO _____________________. Commission file number: 0-25910 LOGANSPORT FINANCIAL CORP. (Exact name of registrant specified in its charter) Indiana 35-1945736 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 723 East Broadway P.O. Box 569 Logansport, Indiana 46947 (Address of principal executive offices including Zip Code) (219) 722-3855 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such report), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] The number of shares of the Registrant's common stock, without par value, as of August 1, 1996 was 1,322,500. Logansport Financial Corp. Form 10-Q Index Page No. PART 1. FINANCIAL INFORMATION Item 1. Financial Statements 3 Consolidated Condensed Statement of Financial Condition as of June 30, 1996 and December 31, 1995 (Unaudited) Consolidated Condensed Statement of Income for the three and six months ended June 30, 1996 and 1995 (Unaudited ) Consolidated Condensed Statement of Changes in Shareholders' Equity for the six months ended June 30, 1996 and 1995 (Unaudited) Consolidated Condensed Statement of Cash Flows for the six months ended June 30, 1996 and 1995 (Unaudited) Notes to Consolidated Financial Statements 8 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 9 PART II. OTHER INFORMATION Item 1. Legal Proceedings 13 Item 4. Submission of Matters to a Vote of Security Holders 13 Item 5. Other information 14 Item 6. Exhibits and Reports of Form 8-K 14 SIGNATURES -2- LOGANSPORT FINANCIAL CORP. Consolidated Condensed Statement of Financial Condition (Unaudited)
June 30, December 31, 1996 1995 ------------ ------------ Assets Cash $ 786,247 $ 1,267,791 Short-term interest bearing deposits 2,460,751 1,974,788 ---------- ----------- Total cash and cash equivalents 3,246,998 3,242,579 Interest bearing deposits 100,000 100,000 Securities available for sale 18,383,164 18,753,096 Loans 52,942,408 49,930,050 Allowance for loan losses (229,970) (222,700) ----------- ---------- Net loans 52,712,438 49,707,350 Premises and equipment 477,943 432,176 Federal Home Loan Bank stock, at cost 386,500 348,200 Cash value of life insurance 1,023,686 1,005,686 Other assets 864,667 1,058,221 ----------- ----------- Total assets $ 77,195,396 $ 74,647,308 =========== =========== Liabilities Deposits $ 54,771,955 $ 52,460,980 Federal Home Loan Bank advances 2,000,000 1,000,000 Dividends payable 132,250 132,250 Other liabilities 470,124 599,808 ----------- ----------- Total liabilities 57,374,329 54,193,038 ----------- ----------- Shareholders' Equity Common stock 12,670,006 12,670,006 Retained earnings-substantially restricted 8,066,295 7,774,213 Unearned compensation (583,839) Net unrealized gain (loss) on securities available for sale, net of tax (331,395) 10,051 ----------- ------------ Total shareholders' equity 19,821,067 20,454,270 ----------- ----------- Total liabilities and shareholders' equity $ 77,195,396 $ 74,647,308 ============ ============
-3- LOGANSPORT FINANCIAL CORP. Consolidated Condensed Statement of Income (Unaudited)
Three Months Ended Six Months Ended June 30, June 30, --------------------------------- ----------------------------- 1996 1995 1996 1995 ---- ---- ---- ---- Interest Income Loan $1,076,749 $891,996 $2,108,294 $1,749,343 Investment Securities Taxable 252,752 143,709 488,499 287,814 Tax-exempt 31,680 28,489 62,534 56,082 Other interest and dividend income 42,130 67,727 82,687 90,005 ----------- ---------- ----------- ----------- Total interest income 1,403,311 1,131,921 2,742,014 2,183,244 ---------- --------- ---------- ---------- Interest Expense Deposits 638,729 618,678 1,265,661 1,189,474 Federal Home Loan Bank advances 14,985 16,071 28,799 31,728 ----------- ----------- ----------- ----------- Total interest expense 653,714 634,749 1,294,460 1,221,202 ----------- ---------- ---------- ---------- Net Interest Income 749,597 497,172 1,447,554 962,042 Provision for losses on loan 3,000 3,000 6,000 6,000 ------------ ------------ ----------- ------------ Net Interest Income After Provision for Losses on Loans 746,597 494,172 1,441,554 956,042 ----------- ---------- ---------- ----------- Other Income Service charges on deposit 15,748 10,853 29,086 18,998 accounts Net realized gains (loss )on security sales (3,364) 7,876 1,741 Recoveries on previously written-off securities 17,291 1,297 17,291 23,779 Other income 11,463 7,854 22,710 17,650 ------------ ----------- ---------- ------------ Total other income 41,138 20,004 76,963 62,168 ------------ ----------- ---------- ------------ Other Expenses Salaries and employee benefits 164,813 117,672 305,557 232,219 Net occupancy expenses 8,722 8,374 20,070 16,514 Equipment expenses 9,311 12,235 20,385 22,764 Deposit insurance expense 29,877 28,975 59,598 57,951 Computer processing fees 20,439 19,765 44,014 41,004 Other expenses 101,566 60,362 182,340 112,924 ----------- ----------- ---------- ----------- Total other expense 334,728 247,383 631,964 483,376 ----------- ----------- ---------- ----------- Income Before Income Tax 453,007 266,793 886,553 534,834 Income tax expense 170,314 102,114 329,971 191,601 ----------- ----------- ----------- ------------ Net Income $282,693 $164,679 $556,582 $343,233 =========== =========== =========== =========== Net Income per share $.21 $.42 =========== =========== Weighted average shares outstanding 1,322,500 1,322,500
-4- LOGANSPORT FINANCIAL CORP. Consolidated Condensed Statement of Shareholders' Equity (Unaudited) Six Months Ended June 30, ------------------------------- 1996 1995 ------------ ------------ Beginning balance $ 20,454,270 $ 6,833,494 Net proceeds in conversion and sale of stock 12,747,417 Contribution for unearned compensation (614,567) Amortization of unearned compensation expense 30,728 Dividends (264,500) Net change in unrealized gain (loss) on securities available for sale (341,446) 67,373 Net income 556,582 343,233 ------------ ------------ Ending balance $ 19,821,067 $ 19,991,517 ============ ============ -5- LOGANSPORT FINANCIAL CORP. Consolidated Condensed Statement of Cash Flows (Unaudited)
Six Months Ended June 30, -------------------------- 1996 1995 ------------ ---------- Operating Activities Net income $ 556,582 $ 343,233 Adjustments to reconcile net income to net cash provided by operating activities Provision for loan losses 6,000 6,000 Investment securities gains (7,876) (1,741) Premium and discount amortization, net 14,260 (3,455) Amortization of unearned compensation 30,728 Depreciation 18,417 22,004 Change in Other assets 399,510 (2,696) Other liabilities (129,684) 64,015 ----------- ----------- Net cash provided by operating activities 887,937 427,360 ----------- ----------- Investing Activities Purchase of securities available for sale (6,842,172) (4,743,085) Proceeds from available for sale maturities 750,000 92,020 Proceeds from available for sale sales 3,964,115 99,566 Proceeds from held to maturity maturities 250,000 Payments on mortgage and asset-backed securities 1,926,203 419,490 Purchase of Federal Home Loan Bank Stock (38,300) (40,900) Net changes in loans (3,011,088) (4,409,226) Purchase of premises and equipment (64,184) (3,858) ----------- ----------- Net cash used by investing activities (3,315,426) (8,335,993) ----------- -----------
-6- LOGANSPORT FINANCIAL CORP. Consolidated Condensed Statement of Cash Flows (Unaudited)
Six Months Ended June 30, ----------------------------- 1996 1995 ----------- ------------ Financing Activities Sale of common stock, net of costs 12,747,417 Net change in Noninterest-bearing deposits, NOW, passbook, and money market savings 1,309,278 194,646 Certificates of deposit 1,001,697 (471,645) Payment of Federal Home Loan Bank Advances (1,000,000) Proceeds from Federal Home Loan Bank Advances 1,000,000 Contribution for unearned compensation (614,567) Payment of dividends (264,500) ---------- Net cash provided by financing activities 2,431,908 11,470,418 ---------- ----------- Net Change in Cash and Cash Equivalents 4,419 3,561,785 Cash and Cash Equivalents, Beginning of Period 3,242,579 1,644,880 ----------- ----------- Cash and Cash Equivalents, End of Period $ 3,246,998 $ 5,206,665 ========== ========== Additional Cash Flow and Supplementary Information Interest paid $1,306,248 $1,197,138 Income tax paid 393,000 153,000 Dividends payable 132,250 ---
-7- NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS NOTE A: Basis of Presentation The unaudited interim consolidated condensed financial statements include the accounts of Logansport Financial Corp. (the "Company") and its subsidiary, Logansport Savings Bank, FSB, (the "Bank"). The unaudited interim consolidated condensed financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and disclosures required by generally accepted accounting principles for complete financial statements. In the opinion of management, the financial statements reflect all adjustments necessary to present fairly the Company's financial position as of June 30, 1996, results of operations for the three and six month periods ending June 30, 1996 and 1995 and cash flows for the six month periods ending June 30, 1996 and 1995. NOTE B: Plan of Conversion Effective June 13, 1995, the Bank completed its conversion from a federally chartered mutual savings bank to a federally chartered stock savings bank (the "Conversion"), and became a wholly- owned subsidiary of the Company. In the Conversion, the Company sold 1,322,500 shares of Common Stock, with no par value ("Common Stock"), for $10.00 per share and used all proceeds except $3,982,500 to acquire complete ownership of the Bank. Net proceeds of the Company's stock issuance, after costs, were $12,670,006. At a meeting of the Company's shareholders on April 9, 1996, the Board of Directors submitted for shareholder approval a stock option plan (the "Stock Option Plan"), and at that time made certain awards pursuant to the Stock Option Plan. The plan was approved by the Company's shareholders. Common Stock in an aggregate amount of 10.0% of the shares issued in the Conversion (132,250 shares) were reserved for issuance upon the exercise of options granted under the Stock Option Plan. Options were granted under the Stock Option Plan for 108,691 shares of common stock and will have an exercise price per share equal to $12.50, the fair market value of the shares on the date of grant. Additionally, at a meeting of the Company's shareholders held on April 9, 1996, the Board of Directors submitted for shareholder approval a Management Recognition and Retention Plan and Trust (the "RRP"). The RRP was approved by the shareholders. The Bank will contribute funds to the RRP to enable it to acquire an aggregate amount of Common Stock equal to up to 4.0% of the shares issued in the Conversion, (52,900 shares) either directly from the Company or in the open market. Shares awarded under the RRP will vest at a rate of 20% at the end of each full twelve months of service with the Bank after the date of grant. As of April 9, 1996, the number of shares awarded under the RRP was 46,675. All of these shares were acquired in the open market during the quarter ended June 30, 1996. -8- NOTE C: Cash Dividends and Earnings Per Share A cash dividend of $.10 per common share was declared on June 4, 1996, payable on July 10, 1996, to stockholders of record as of June 17, 1996. Earnings per share was computed based upon the weighted average common shares outstanding during the period subsequent to the Bank's conversion to a stock savings bank on June 13, 1995. Net income for the three and six months ended June 30, 1995 is not meaningful. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operation. Financial Condition Total assets were $77.2 million at June 30, 1996 compared to $74.6 million at December 31, 1995, an increase of $2.6 million or 3.5%. This increase resulted primarily from a growth in deposits of $2.3 million and an increase in Federal Home Loan Bank advances of $1.0 million, both of which were reinvested in loans. Securities decreased slightly from $18.8 million at December 31, 1995 to $18.4 million at June 30, 1996. This decrease was due to investment maturities, securities calls, and mortgage-backed securities pay-downs. In addition to other securities sales, $2.2 million of structured notes were sold and generally reinvested in mortgage-backed securities. Loans increased $3.0 million, or 6.0%, from $49.9 million at December 31, 1995 to $52.9 million at June 30, 1996. Loan demand continues to be excellent. No commercial paper was owned by the Company at June 30, 1996. Commercial paper owned at December 31, 1995 and included in loan totals was $0.9 million. Deposits were $54.8 million at June 30, 1996 compared to $52.5 million at December 31, 1995, or an increase of $2.3 million in the first two quarters of 1996. During the six months ended June 30, 1996, Federal Home Loan Bank advances in the amount of $1.0 million were converted to a fixed rate with a one year term from a variable rate with a three month maturity. An additional advance of $1.0 million with a fixed rate and a three month maturity was obtained during the second quarter. Shareholders' equity was $19.8 million at June 30, 1996 and $20.5 million at December 31, 1995. The payment of dividends, a change in the unrealized gain (loss) on securities available for sale, from a gain of $10,051 at December 31, 1995 to a loss of $331,395 at June 30, 1996, and the purchase of Company stock in the open market for the RRP combined to result in a decrease in shareholders' equity for the six months ended June 30, 1996. -9- Results of Operations Comparison of the Three Months Ended June 30, 1996 and June 30, 1995 Net income for the Company for the three months ended June 30, 1996 was $282,693 compared with $164,679 for the three months ended June 30, 1995. This is an increase of $118,014 or 71.7%. Interest income increased $271,390 while other expenses increased $87,345 and taxes increased $68,200. The major contributor to the increase in interest income was the investment of Conversion proceeds. The Conversion was completed on June 13, 1995 and the proceeds were invested in new loans and investment securities resulting in a higher volume of interest-earning assets. In addition, increasing interest rates have resulted in ARM loans repricing at higher rates and thus increasing mortgage loan income. The provision for loan losses was $3,000 for each of the three-month periods ended June 30, 1996 and 1995. No properties were taken into real estate owned in either of the quarters ended June 30, 1996 or June 30, 1995. Non-performing loans decreased to $302,000, or 0.57% of loans, at June 30, 1996 from $311,000, or 0.63% of loans, at December 31, 1995. Non-performing loans at June 30, 1995 were $423,000. Loan loss reserves amounted to $229,970, or 0.43% of total loans, at June 30, 1996 compared to $222,700, or 0.45% at December 31, 1995. Other income increased by $21,134, primarily because of the $17,291 nonrecurring recovery on securities previously written off that was recorded in the quarter ending June 30, 1996. Service charges on deposit accounts increased by $4,895, or 45.1%, from June 30, 1996 over June 30, 1995. Total other expenses increased $87,345 or 35.3% in the three months ending June 30, 1996 compared to June 30, 1995. Salaries and employee benefits increase $47,141, or 40.1%. This increase is a result of general and merit pay increases, the inclusion of additional employees in various benefit plans due to length of service, and amortization of the expense associated with the RRP. Other operating expenses experienced an increase of $41,204 or 68.3%. Other expenses were $101,566 for the three months ended June 30, 1996 compared to $60,362 for the three months ended June 30, 1995. Approximately $6,000 of the increase was related to an increase in advertising volume and office supplies. Supplies are ordered in quantity as needed so timing of the orders can vary from year to year. The remaining increase in other operating expenses of approximately $34,000 related to increases in legal expenses, accounting fees, exam fees, stock market listing fees, transfer agent fees, and printing expenses. All of these additional expenses are associated with doing business as a public company which was not the case for the majority of the comparative period ending June 30, 1995. The Company's effective tax rate for the three months ended June 30, 1996 was 37.6% compared to 38.3% for the three months ended June 30,1995. -10- Comparison of the Six Months Ended June 30,1996 and June 30, 1995 Net income for the Company for the six months ended June 30, 1996 was $556,582 compared with $343,233 for the six months ended June 30, 1995. This is an increase of $213,349 or 62.2%. Interest income increased $558,770 as a result of the investment of Conversion proceeds and a more favorable interest rate environment. Interest expense increased only $73,258 resulting in an improvement in net interest income of $485,512 or 50.5%, when comparing the six months ended June 30, 1996 to the six months ended June 30, 1995. The provision for loan losses was $6,000 for each of the six month periods ended June 30, 1996 and 1995. There were no properties taken into real estate owned in either period, and no loans were written off. The growth in loans outstanding has not resulted in a need for an additional loan loss provision or resulted in an increase in nonperforming loans as discussed in the previous section. Other income increased by $14,795 or 23.8%. Service charges on deposit accounts increased $10,088, or 53.1%, and constitute the majority of the difference. This increase is a result of an increase in the volume of transaction accounts and new service charges imposed. There was a nonrecurring recovery on securities previously written off of $17,291 in the six months ended June 30, 1996 and $23,779 in the period ending June 30, 1995. Total other expenses increased $148,588, or 30.7%, for the six months ending June 30, 1996 compared to the six months ended June 30, 1995. The increases were concentrated in two areas, salaries and employee benefits and other expenses. Salary and employee benefits increased $73,338, or 31.6%. This is a result of general and merit pay increases, the inclusion of additional employees in various benefit plans due to length of service, and amortization of the expense associated with the RRP which was approved April 9, 1996 at the shareholder's meeting. The plan was effective for three months of the six-month period ending June 30, 1996 and resulted in amortization expense of $30,728 for the six months ended June 30, 1996. Other expenses increased $69,416 for the six months ended June 30, 1996 compared to the six months ended June 30, 1995. Approximately $5,000 of the increase is related to an increase in the volume of checking accounts and the additional services connected with these accounts such as an ATM card. Advertising expense also increased by $5,000 as new and additional means were used to promote the Company. The remaining increases in other expenses of $59,000 were related to increases in legal expenses, accounting fees, exam fees, stock market listing fees, transfer agent fees, and printing expenses. All of these are associated with the addtional costs of doing business as a public company. The Company's effective tax rate for the six months ended June 30,1996 was 37.2% compared to 35.8% for the six months ended June 30, 1995. -11- Capital Resources Pursuant to OTS capital regulations, savings associations must currently meet a 1.5% tangible capital requirement, a 3% leverage ratio (or core capital) requirement, and total risk-based capital to risk-weighted assets ratio of 8%. At June 30, 1996, the Bank's tangible capital ratio was 22.6%, its leverage ratio was 22.6%, and its risk-based capital to risk-weighted assets ratio was 43.4%. Therefore, the Bank's capital significantly exceeded all of the capital requirements currently in effect. The following table provides the minimum regulatory capital requirements and the Bank's capital ratios as of June 30, 1996 Capital Standard Required Bank's Excess - ---------------- -------- ------ ------ Tangible (1.5%) $1,108,000 $16,613,000 $15,505,000 Core (3.0%) 2,215,000 16,613,000 14,398,000 Risk-based (8.0%) 3,108,000 16,843,000 13,735,000 Liquidity The standard measure of liquidity for savings associations is the ratio of cash and eligible investments to a certain percentage of net withdrawable savings account and borrowings due within one year. The minimum required ratio is currently set by the Office of Thrift Supervision at 5%, of which 1% must be comprised of short-term investments. At June 30, 1996 the Company's ratio was 21.2%, of which 8.1% was comprised of short-term investments. -12- Part II. OTHER INFORMATION Item 1. Legal Proceedings Neither the Bank nor the Company were during the three-month period ended June 30, 1996 or are as of the date hereof involved in any legal proceeding of a material nature. From time to time, the Bank is a party to legal proceedings wherein it enforces its security interests in connection with its mortgage and other loans. Item 4. Submission of Matters to a Vote of Security Holders On April 9, 1996, the Company held its 1995 annual meeting of shareholders. A total of 1,102,441 shares or 83.4% of the Company's share outstanding, were represented at the meeting either in person or by proxy. Seven directors were nominated by the Company's Board of Directors to serve new one, two, or three year terms. These nominees, and the voting results for each are listed below. For Withheld --------- -------- Norbert E. Adrian (one year term) 1,089,616 1,525 Charles J. Evans (three year term) 1,101,596 845 Donald G. Pollitt (two year term) 1,100,866 1,575 Susanne S. Ridlen (two year term) 1,094,916 7,525 William Tincher, Jr. (one year term) 1,101,416 1,025 David G. Wihebrink (three year term) 1,101,546 895 Thomas G. Williams (three year term) 1,101,596 845 Also at the meeting, shareholders ratified the appointment of Geo. S. Olive & Co. LLC as auditors for the Company for the fiscal year ending December 31, 1996. A total of 1,100,761 share voted in favor of this proposal, no shares voted against and 1,680 shared abstained. The shareholders approved the Logansport Financial Corp. Stock Option Plan. A total of 877,603 shares voted in favor of this proposal, 71,665 shares voted against and 1,680 shares abstained. The shareholders also approved the Logansport Savings Bank, FSB Recognition and Retention Plan and Trust. A total of 869,550 shares voted in favor of this proposal, 79,450 voted against, and 1,980 abstained. -13- Item 5. Other Information On October 11, 1994 the Board of Directors of the Bank adopted a Plan of Conversion (the "Plan"), which was amended on February 14, 1995, providing for the Conversion of the Bank from a federal mutual savings bank to a federal stock savings bank, all the outstanding shares of which would be held by the Company. The Plan was approved by the Office of Thrift Supervision, subject to approval by the Bank's members. A special meeting was held on May 31, 1995, and the members of the Bank approved the Plan by a vote of 364,854 votes for approval of the Plan and 9,947 votes against approval of the Plan. In a subscription offering, the Company sold 1,322,500 shares of Common Stock, without par value, for $10.00 per share. The Company realized net proceeds of approximately $12.7 million in connection with the Bank's Conversion and the sale of 1,322,500 shares of the Common Stock. Of those proceeds, $3,982,500 were retained at the holding company level by the Company. The remaining net proceeds were used to acquire all of the capital stock of the Bank. The Company's shares began trading on the National Association of Securities Dealers Automated Quotation System, Small Cap Market, under the symbol "LOGN" on June 14, 1995. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits. The following exhibits are attached to this report on Form 10-Q: (27) Financial Data Schedule (b) Reports on Form 8-K. The Registrant filed no reports on Form 8-K during the fiscal quarter ended June 30, 1996. -14- Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on behalf of the undersigned thereto duly authorized. Logansport Financial Corp. Date: August 12, 1996 By: /s/ Thomas G. Williams ------------------------------- Thomas G. Williams, President and Chief Executive Officer Date: August 12, 1996 By: /s/ Dottye Robeson ------------------------------- Dottye Robeson, Secretary and Treasurer -15- EX-27 2 FDS FOR LOGANSPORT FINANCIAL CORP.
9 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE REGISTRANT'S UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 0000939928 Logansport Financial Corp. 1000 U.S. Dollars 3-mos Dec-31-1996 Apr-1-1996 Jun-30-1996 1 3,247 100 0 0 18,383 18,383 18,383 52,942 (230) 77,195 54,772 2,000 602 0 12,670 0 0 7,151 77,195 1,077 284 42 1,403 638 15 750 3 (3) 335 453 0 0 0 283 .21 .21 2.99 302 302 0 0 226 0 1 230 0 0 230
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