Logansport Financial Corp. Reports Net Earnings for the Quarter Ended June 30, 2011

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LOGANSPORT, Ind.--(BUSINESS WIRE)-- Logansport Financial Corp., (OTCBB: LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended June 30, 2011 of $363,000 or $.46 per diluted share, compared to earnings in 2010 of $312,000 or $.40 per diluted share. Year to date the company reported net earnings of $707,000 for 2011 compared to $506,000 for 2010. Diluted earnings per share for the six months ended June 30, 2011 were $.90 compared to $.65 for the six months ended June 30, 2010. Total assets at June 30, 2011 were $169.0 million compared to total assets at December 31, 2010 of $151.4 million. Total loans decreased from $113.7 million at December 31, 2010 to $112.9 million at June 30, 2011.

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.


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

		6/30/11		12/31/10

Total assets	$	169,015	$	151,396

Loans receivable, net		112,944		113,749
Allowance for loan losses		1,833		1,699
Cash and cash equivalents		4,505		4,390
Securities available for sale		44,603		25,833
Federal Home Loan Bank stock		1,640		1,895
Equity Investment		375		357
Deposits		131,834		111,357
FHLB Borrowings and note payable		16,203		19,644
Shareholders’ equity		20,169		19,300
Shares O/S end of period		785,817		785,817
Non-accrual loans		1,439		1,656
Real Estate Owned		383		270

	Quarter ended 6/30					Six months ended 6/30
		2011		2010			2011			2010

Interest income	$	1,921	$	1,982		$	3,823		$	3,938
Interest expense		470		783			978			1,649
Net interest income		1,451		1,199			2,844			2,289
Provision for loan losses		180		180			360			360
Net interest income after provision		1,271		1,019			978			1,929
Gain on sale of loans		10		15			37			31
Loss on sale of REO	0			(8	)		(1	)		(18	)
Total other income		141		121			306			256
Gain (loss) on equity investment	4			(7	)		18		4
Total general, admin. & other expense		869		778			1,733			1,553
Earnings before income taxes		544		362			1,058			632
Income tax expense		181		50			351			126
Net earnings	$	363	$	312		$	707		$	506
Basic earnings per share	$	.46	$	.40		$	.90		$	.65
Diluted earnings per share	$	.46	$	.40		$	.90		$	.65
Weighted average shares o/s diluted		785,766		783,701			785,766			783,701