LANDMARK BANCORP Business Summary

Landmark Bancorp Inc (LARK) operates as the bank holding company for Landmark National Bank, a community-focused financial institution primarily serving the Kansas market. The company generates revenue through a traditional spread-based model, earning net interest income from a diversified loan portfolio—spanning agriculture, commercial real estate, and residential housing—while maintaining a disciplined cost of deposits. Revenue is further supplemented by non-interest income streams such as mortgage banking fees, service charges, and treasury management solutions. As of February 2026, Landmark distinguishes itself through high net interest margins, which reached 4.03% in late 2025, and a robust efficiency ratio that positions it as a top-performing small-cap bank. Its primary competitors include regional and community peers such as Fidelity D&D Bancorp (FDBC), Orrstown Financial Services (ORRF), and First United Corporation (FUNC), against whom Landmark competes by leveraging localized decision-making and a strong physical presence across 23 Kansas communities. The leadership team is headed by President and CEO Abigail (Abby) M. Wendel, who assumed the role in 2024 following a distinguished career as President of Consumer Banking at UMB Bank and a twelve-year tenure at the Federal Reserve Bank of Kansas City. She is supported by Executive Vice President and CFO Mark A. Herpich, a foundational executive who has served in his role since the company’s formation in 2001 and brings extensive experience from KPMG and previous leadership roles at MNB Bancshares. Raymond McLanahan serves as the Chief Credit Officer, overseeing the bank's asset quality and risk management strategies. The company is governed by a board that has overseen 98 consecutive quarters of cash dividends and was recently recognized by Piper Sandler as a "Sm-All Star" for 2025, highlighting the management's success in driving profitability and capital strength.