Landmark Bancorp Inc.

Hello, everyone. Thank you for attending today's Landmark Bancorp Inc. Q4 earnings call. My name is William, and I will be your moderator today. All lines will be muted during the presentation portion of the call. At this time, I would now like to pass the conference over to our host, Shelley Reed, Investor Relations with Landmark Bancorp. Shelley?

Thank you. Good morning, and welcome to Landmark Bancorp's fourth quarter and full year 2025 earnings conference call. My name is Shelley Reed, new to Landmark as of August 2025. Joining me today are several members of our executive leadership team, including our president and CEO, Abby Wendell, Chief Financial Officer, Mark Burpik, and Chief Credit Officer, Raymond McClanahan. During today's call, we may make statements that constitute projections, plans, objectives, future performance, beliefs, expectations, or similar forward-looking statements. These statements involve risks and uncertainties, which should be considered in evaluating forward-looking statements, and unview reliance should not be placed on such statements. We caution that such statements are predictions only and that actual results may differ materially. We include more information on these factors in our earnings release, furnished with our Form 8K yesterday, as well as our Form 10K and Form 10Q filings and subsequent filings with the SEC. Additionally, all statements, including forward-looking statements, speak only as of the date they are made, and Landmark undertakes no obligations to update any statement in light of new information or future events. Also, our remarks may reference certain non-GAAP financial metrics we believe provide useful information to investors. Additional disclosures regarding non-GAAP measures, including the reconciliation of those non-GAAP metrics to GAAP, are contained in our earnings release, which we filed yesterday with the SEC. It is also available on the investor section of our website at banklandmark.com. We caution that these non-GAAP financial metrics should not be viewed as a substitute for operating results determined in accordance with GAAP as contained in our earnings release and other filings with the SEC. A replay of this call will be available through February 5th. Access information can be found in our earnings release. I will now turn the conference call over to our President and Chief Executive Officer, Abby Wendell.

Thank you, Shelley, and welcome to the team. Good morning, everyone, and thank you for joining our call today to discuss landmarks, earnings, and operating results for the fourth quarter and full year of 2025. Landmark's strong fourth quarter results capped off a year of outstanding revenue growth, increased profitability, pricing discipline, and per share increases in earnings and tangible book value. These results are a testament to the hard work and dedication of our talented associates. We are pleased to report net income of $4.7 million or diluted earnings per share of 77 cents for the fourth quarter. tangible book value increased to $20.79 per share, an increase of 83 cents versus the prior quarter, and an increase of $4.09, or 24%, over year-end 2024. For full year 2025, we reported net income of $18.8 million, or $3.07 per share. That's a 43% increase over our 2024 earnings per share. We achieved positive operating leverage in 2025, driven by 17% revenue growth, which outpaced our overhead expense growth. Revenue growth was largely driven by continued expansion in net interest income, which increased each quarter throughout 2025. Our net interest margin increased 58 basis points to 3.86% for the full year of 2025, driven by our attractive cost of deposits, which improved to 1.56%. For the fourth quarter of 2025, our total cost of deposits was 1.50%, driven by our pricing discipline and the nature of our core deposit base. Our efficiency ratio improved to 62.7% in 2025 from 69.1% in 2024, as we controlled expense growth while enhancing our capabilities to better serve our customers and invest in our talent throughout the organization and across our footprint. Throughout the year, we delivered 11.5 average total loan growth, with loans ending the year at $1.1 billion. Commercial loan production was strong, led by growth in commercial real estate loans, and our mortgage team delivered robust results, increasing originations 11% year over year. We also work diligently throughout the year to address a few problem credits to better position our loan portfolio and strengthen our overall balance sheet. We remain diligent in our efforts to monitor and constructively address our non-performing loans. Our capital ratios remain above well capitalized and our tangible common equity to assets now exceeds 8%. I am pleased to report our board of directors has declared a cash dividend of 21 cents per share to be paid February 26 to shareholders of record as of February 12, 2026. This represents the 98th consecutive quarterly cash dividend since the parent company's formation in 2021, excuse me, in 2001. I will now turn the call over to Mark Herpich, our CFO, who will review the financial results in detail with you.