Landmark Bancorp, Inc. (NASDAQ:LARK) Q1 2024 Earnings Call Transcript

Ross Haberman: Just one final if you can indulge me with one more. A number of banks are restructuring some of their held-for-sale securities if they can make back the hit in, I don’t know, two years or less. You had about an $18 million AOCI at the end of March. What was the average LIFO duration of that and have you looked at that possibility to restructure some, sell it and reinvest it and what kind of breakeven would be palatable for you to do that?

Mark Herpich: As you probably saw in the fourth quarter, we did sell some of our investments and incurred the $1.2 million loss as we evaluated. The two year breakup maybe a little longer than we would like to see. We’d like to see something that’s a little closer to 1 year or slightly over that potentially. But we are continuing to model some of those opportunities and thinking about restructuring our investment portfolio if it would make sense in those guidelines and be good for our shareholders on a longer-term basis. And I think you asked what our average life of the portfolio was, I think that’s 4.2 years.

Ross Haberman: Yes, I did. 4.2 years, you said, Mark?

Mark Herpich: Yes, that’s our duration.

Operator: As there are no additional questions waiting at this time, I’d like to hand the conference back over to Abby Wendel for closing remarks.

Abby Wendel: Thank you. I’d like to thank everyone for participating in today’s earnings call. I appreciate your continued support and confidence in the company. I look forward to sharing news related to our second quarter 2024 results at our next earnings conference call. Hope you have a great day.