Ledyard Financial Q2 Net Income Jumps 33% on Broad Loan Growth
LFGP sits 54% above its 52-week low of $13.15.
Summary
Ledyard Financial posted Q2 net income of $1.74 million, up 33% year-over-year, driven by broad-based loan growth of $51.3 million (7.5% sequentially). Net interest margin expanded 6 basis points on higher asset yields and lower funding costs, while wealth management revenue rose 4.9%. The company declared a $0.21 dividend and signaled plans to build reserves for a potential credit cycle turn. This follows a strong Q1 where net income rose 25% to $1.5 million, showing accelerating momentum. The stock is trading near its 52-week high of $20.29, reflecting market confidence in the community bank's growth trajectory.
At the time of this announcement, LFGP was trading at $20.20 on OTC in the Finance sector, with a market capitalization of approximately $69.6M. The 52-week trading range was $13.15 to $20.29. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.