Landmark Bancorp, Inc. (NASDAQ:LARK) Q3 2023 Earnings Call Transcript

Ross Haberman : Okay. And just one last question. We’re probably going to see — or we have seen — probably continue to see, unfortunately, probably a huge amount of tax selling in all these financial stocks between now and year-end. Would you consider buying back shares at some point or if the stock up below what the tangible book is around $14, would you consider buying back shares if it got to — and then duly low rate like level like that? Or really, you’re saving your capital for loan growth and other investments you might say.

Michael Scheopner : We’re always mindful of managing our capital levels, Ross, but we do have an active stock repurchase plan that we can act on, and we continue to evaluate those metrics, particularly given the depressed price that we’re trading at right now. And so it is a — it’s a little bit of a balancing act, but we would actively consider utilizing capital to repurchase stock, if we can make the metrics — if we make the metrics work.

Ross Haberman : And one final question. Do you guys look at a lot of these banks in their queues and the notes they put in the mark-to-market on their loans. And everyone, of course, is underwater — of course, [that they made their] loans in the last couple of years. Do you put much credence into that mark-to-market number? And if so, why not?

Mark Herpich : Well, we do disclose it in our 10-Q, which will get filed in another 1.5 weeks or so. But we — maybe a tough — touchy question, Ross, maybe I don’t put a lot of credence in that number. I mean it is there. It’s — I sometimes wonder why we don’t get a — as much attention on the deposits and the loans as we do our investment securities portfolio, which obviously we have to make entries on that market valuation estimate, but the loan and deposit ones which we disclosed, they don’t seem to get much attention, but we — they are important, but I don’t think the loan valuation is any more or less important than the deposit valuation on the other side of the balance sheet.

Operator: [Operator Instructions] Okay. Currently, no further questions on the line. So Michael, I would like to hand back to you for any closing remarks.

Michael Scheopner : Thank you. And I truly do want to thank everyone for participating in today’s earnings call. I very much appreciate your continued support and the confidence that you have in our company, and I look forward to sharing news related to our fourth quarter 2023 results at our next earnings conference call. Thank you.

Operator: That concludes today’s conference call, everybody. Thank you very much for joining. You may now disconnect your lines. Have a great rest of your day.