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FOR IMMEDIATE RELEASE July 27 , 2021 A LANDMARK BANCORP , INC . PRESS RELEASE Exhibit 99.1 Contacts : Michael E. Scheopner President and Chief Executive Officer Mark A. Herpich Chief Financial Officer ( 785 ) 565-2000 Landmark Bancorp , Inc. Announces Second Quarter Diluted Earnings Per Share of $ 1.04 Declares Cash Dividend of $ 0.20 per Share ( Manhattan , KS , July 27 , 2021 ) - Landmark Bancorp , Inc. ( " Landmark " ; Nasdaq : LARK ) reported diluted earnings per share of $ 1.04 for the three months ended June 30 , 2021 , compared to $ 1.08 per share in the same quarter last year and $ 1.13 per share in the first quarter of 2021. Net earnings for the second quarter of 2021 amounted to $ 5.0 million , compared to $ 5.1 million for the second quarter of 2020 and $ 5.4 million in the prior quarter . For the three months ended June 30 , 2021 , the return on average assets was 1.59 % , the return on average equity was 15.40 % , and the efficiency ratio was 58.9 % . For the first six months of 2021 , diluted earnings per share totaled $ 2.17 compared to $ 1.77 during the same period of 2020 while net earnings increased 22.3 % to $ 10.3 million . For the six months ended June 30 , 2021 , the return on average assets was 1.68 % and the return on average equity was 16.22 % . Michael E. Scheopner , President and Chief Executive Officer of Landmark , said , “ Our Company reported strong earnings during the second quarter of 2021 , driven mainly by increased net interest income , lower credit costs , continued solid mortgage banking activities and good expense control . Compared to the second quarter of 2020 , our net interest income grew 10.7 % primarily due to increased interest income on loans and lower deposit costs . While fees from mortgage banking activities declined this quarter as a result of slightly higher mortgage rates and lower housing inventories , we continued to see solid loan origination activity in our markets . Excluding Paycheck Protection Program ( PPP ) loans , gross loans grew by $ 10.6 million , or 6.9 % annualized , this quarter due mainly to growth in commercial real estate and residential real estate loans . PPP loans declined by $ 56.1 million this quarter mostly due to loan forgiveness by the Small Business Administration ( SBA ) . Total deposits increased $ 6.5 million this quarter and have increased 14.1 % since June 30 , 2020. Lower total gross loans coupled with growth in deposits resulted in increases to cash and investment securities . " Mr. Scheopner continued , “ Credit quality remained strong this quarter as the Company recorded net loan charge - offs of $ 108,000 compared to net loan charge - offs of $ 4,000 in the prior quarter and $ 132,000 in the same quarter last year . The allowance for loan losses totaled $ 9.2 million at June 30 , 2021 , and there was no provision for loan losses this quarter as a result of an improving economy . The allowance for loan losses was 1.47 % of period end loans , excluding PPP loans for which no loan loss reserve has been provided . Loan modifications related to COVID - 19 made last year to support our customers have mostly been returned to their original contractual terms . Our capital position remains strong with total equity to assets of 10.58 % . We believe Landmark's risk management practices , liquidity and capital strength continue to position us well to meet the financial needs of families and businesses in our markets . ” Landmark's Board of Directors declared a cash dividend of $ 0.20 per share , to be paid August 25 , 2021 , to common stockholders of record as of the close of business on August 11 , 2021. Management will host a conference call to discuss the Company's financial results at 10:00 a.m. ( Central time ) on Wednesday , July 28 , 2021. Investors may participate via telephone by dialing ( 877 ) 510-0473 . A replay of the call will be available through August 28 , 2021 , by dialing ( 877 ) 344-7529 and using conference number 10158612 .