LARK Stock: Insider Activity, Filings & Research
Landmark Bancorp, Inc. (LARK) — Drillr’s hub for LARK insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, LARK insiders filed 1 open-market buy and 4 sales (SEC Form 4).
LARK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | ALEXANDER PATRICK Ldirector | Sell | 700 | $28.50 |
| May 29, 2026 | LEWIS JIMdirector | Sell | 800 | $28.14 |
| May 29, 2026 | ALEXANDER PATRICK Ldirector | Sell | 3,300 | $28.51 |
| May 29, 2026 | ALEXANDER PATRICK Ldirector | Sell | 1,482 | $28.50 |
| May 27, 2026 | Hurt Angela S.director | Buy | 235 | $27.91 |
| Dec 11, 2025 | ALEXANDER PATRICK Ldirector | Sell | 6,500 | $28.50 |
| Dec 11, 2025 | ALEXANDER PATRICK Ldirector | Sell | 1,000 | $28.77 |
| Dec 11, 2025 | ALEXANDER PATRICK Ldirector | Sell | 1,500 | $28.56 |
| Jun 12, 2025 | Stanland Angelia K.director | Grant | 1,000 | $28.70 |
| May 20, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 916 | $29.80 |
| May 20, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 130 | $29.80 |
| May 16, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 30 | $29.62 |
| May 16, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 70 | $29.56 |
| May 16, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 476 | $30.00 |
| May 16, 2025 | SCHEOPNER MICHAEL Edirector | Sell | 100 | $29.57 |
Source: LARK SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
Landmark Bancorp, Inc. company profile
Overview
Landmark Bancorp, Inc. (NASDAQ:LARK) is a regional bank holding company founded in 1885 and headquartered in Manhattan, Kansas. The company operates through its subsidiary Landmark National Bank, which provides traditional banking services across Kansas through 30 branch offices in 24 communities. Landmark has grown through both organic expansion and strategic acquisitions, including the notable acquisition of Freedom Bank in 2022, which significantly expanded its loan portfolio and deposit base. The bank has maintained a conservative, relationship-focused approach to community banking for nearly 140 years, serving primarily rural and small metropolitan markets throughout Kansas.
Business
Landmark Bancorp operates as a traditional community bank holding company in the regional banking sector. Regional banks serve as intermediaries between depositors and borrowers, taking deposits from individuals and businesses and lending those funds to other customers who need capital for various purposes. This fundamental banking model involves earning income from the difference between interest paid on deposits and interest earned on loans, known as net interest margin. The company's core services include traditional deposit products such as checking accounts, savings accounts, money market accounts, and certificates of deposit. These products allow customers to safely store their money while earning modest returns. On the lending side, Landmark provides various loan products including residential mortgages for home purchases, commercial real estate loans for business properties, construction and land development loans, agricultural loans for farming operations, and commercial loans for business operations and equipment purchases. Landmark's loan portfolio composition reflects its Kansas market focus, with significant exposure to agricultural lending given the state's farming economy. The bank also provides consumer loans for automobiles, boats, and home improvements, along with modern banking conveniences such as mobile and online banking services. Additionally, the company maintains an investment portfolio of securities to manage liquidity and generate additional income. The bank's geographic concentration in Kansas allows it to develop deep relationships with local businesses and individuals, understanding the specific economic dynamics of rural and small-town markets.
Revenue model
Landmark generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. This spread-based model is the fundamental revenue driver for traditional banks. The company earns interest income when it lends depositor funds to borrowers at higher rates than it pays to depositors, with the net interest margin representing this profitability spread. The bank's customers include individual consumers seeking mortgages, auto loans, and deposit accounts, as well as businesses requiring commercial loans, real estate financing, and operating capital. Agricultural customers represent a significant portion of the customer base given Kansas's farming economy. Recent financial data shows the bank achieving a net interest margin of approximately 3.76% in Q1 2025, indicating healthy profitability from its core lending activities. Several factors influence Landmark's profitability margins. Interest rate environments significantly impact the bank's earnings, as rising rates generally benefit banks by allowing them to charge higher loan rates while deposit rates typically lag. The bank's liability-sensitive position means it benefits when short-term rates decline, as funding costs decrease faster than loan yields. Credit quality directly affects profitability through loan loss provisions - the bank's conservative underwriting standards help maintain low charge-off rates. Competition from larger banks and fintech companies can pressure both loan pricing and deposit rates. Economic conditions in Kansas, particularly agricultural commodity prices and weather patterns, influence loan demand and credit quality. Regulatory compliance costs and the need for technology investments to compete with larger institutions also impact operating expenses and margins.
Competitive moat
Landmark's competitive moat is relatively modest, typical of smaller regional banks. The company's primary defensive characteristics stem from its deep local market knowledge and established customer relationships built over nearly 140 years of operation in Kansas communities. This relationship-based banking model creates some customer stickiness, as local businesses and individuals often prefer working with bankers who understand their specific market dynamics and can make lending decisions locally rather than through distant corporate headquarters. The bank's geographic concentration in Kansas provides intimate knowledge of local economic conditions, particularly in agricultural markets where understanding seasonal cash flows and commodity cycles is crucial for effective lending. This local expertise creates some competitive advantage over larger national banks that may lack such specialized knowledge. Additionally, Landmark's conservative credit culture and disciplined underwriting standards help maintain asset quality during economic downturns. However, the bank's moat faces significant challenges. The company operates in a highly competitive and commoditized industry where products and services are largely standardized. Larger banks can offer more sophisticated digital platforms, broader product suites, and often better pricing due to economies of scale. Fintech companies are disrupting traditional banking relationships, particularly in lending and payments. The geographic concentration that provides local knowledge also creates vulnerability to regional economic downturns. Interest rate sensitivity means profitability can fluctuate significantly based on Federal Reserve policy decisions beyond management's control. The regulatory burden of banking compliance disproportionately affects smaller institutions, creating ongoing cost pressures that larger competitors can better absorb.
Risks & safety
Landmark demonstrates a moderate margin of safety with generally sound financial fundamentals but some typical regional bank vulnerabilities. • **Liquidity and Solvency**: Strong capital position with $142.7 million in stockholders' equity and well-capitalized ratios. Cash and short-term investments of $21.9 million provide adequate liquidity buffer. Debt-to-equity ratio of 0.0 indicates minimal financial leverage. • **Credit Quality**: Excellent asset quality with allowance for credit losses at $12.8 million (approximately 1.15% of gross loans). Minimal net charge-offs and strong underwriting standards provide downside protection. • **Valuation Metrics**: Trading at P/E ratio of 8.4x and price-to-book ratio of 1.10x, indicating reasonable valuation relative to earnings and book value. Graham number suggests fair valuation around current price levels. • **Profitability**: Return on equity of 3.3% (quarterly) with improving net interest margins trending upward to 3.76%. Efficiency ratio around 70% indicates reasonable cost management. • **Dividend Sustainability**: 95 consecutive quarterly dividend payments demonstrate commitment to shareholder returns, though payout ratio should be monitored during economic stress. • **Concentration Risk**: Geographic concentration in Kansas creates vulnerability to regional economic downturns, particularly in agricultural sectors.
Recent development
Over the past few years, Landmark has pursued several strategic initiatives to strengthen its competitive position and expand its market presence. The most significant development was the acquisition of Freedom Bank in October 2022, which added $118 million in loans and $150.4 million in deposits, substantially increasing the bank's scale and market presence. This acquisition was successfully integrated by 2023, contributing to improved financial performance. The company has focused heavily on loan portfolio growth, achieving its first $1 billion in gross loans during Q3 2024, representing a significant milestone. This growth has been broad-based across multiple loan categories, with particular strength in commercial real estate, residential mortgages, and agricultural lending. The bank has strategically pivoted toward adjustable-rate mortgage products to better manage interest rate risk in a changing rate environment. Under new CEO Abby Wendel, who assumed leadership in March 2024, Landmark has emphasized infrastructure investment to enhance both associate and customer experiences. The company has improved operational efficiency, reducing its efficiency ratio from over 71% to approximately 70%, while maintaining strong credit discipline. Management has also expressed interest in potential merger and acquisition opportunities within Kansas to increase market density and achieve greater economies of scale. Technology investments have been prioritized to compete with larger banks, including enhancements to mobile and online banking platforms. The bank has maintained its conservative, relationship-focused approach while exploring ways to optimize its 30-branch network across 24 Kansas communities. Recent quarters have shown strong momentum in net interest margin expansion, growing from 3.12% to 3.76%, indicating successful management of the interest rate environment.
LARK company profile · for informational purposes only — not investment advice.
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