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FOR IMMEDIATE RELEASE October 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 Third Quarter 2021 Diluted Earnings Per Share of $ 0.95 Declares Cash Dividend of $ 0.20 per Share and 5 % Stock Dividend ( Manhattan , KS , October 27 , 2021 ) - Landmark Bancorp , Inc. ( " Landmark ” ; Nasdaq : LARK ) reported diluted earnings per share of $ 0.95 for the three months ended September 30 , 2021 , compared to $ 1.14 per share in the same quarter last year and $ 1.04 per share in the second quarter of 2021. Net earnings for the third quarter of 2021 amounted to $ 4.5 million , compared to $ 5.4 million for the third quarter of 2020 and $ 5.0 million in the second quarter of 2021. For the three months ended September 30 , 2021 , the return on average assets was 1.42 % , the return on average equity was 13.36 % , and the efficiency ratio was 61.2 % . For the first nine months of 2021 , diluted earnings per share totaled $ 3.12 compared to $ 2.91 during the same period of 2020 while net earnings increased 7.0 % to $ 14.9 million . For the nine months ended September 30 , 2021 , the return on average assets was 1.59 % , the return on average equity was 15.23 % and the efficiency ratio was 59.8 % . In announcing these results , Michael E. Scheopner , President and Chief Executive Officer of Landmark , said , " We are pleased to report continued solid earnings during the third quarter of 2021 , driven mainly by growth in our core lending , solid credit metrics , and strong capital . We continued to see a reduction in our Paycheck Protection Program ( PPP ) loans this quarter as they are being forgiven by the Small Business Administration ( SBA ) . Excluding these loans , our loan portfolio increased $ 12.1 million , or 7.7 % , primarily from solid growth in our commercial and commercial real estate loan portfolios . While gains on sales of loans this quarter are down from the same quarter last year , mostly as a result of a tight housing supply in our markets , gains on sales of loans nevertheless are a significant portion of our non - interest income which we believe we can count on in the future . Growth in fees and service charges helped to partly offset lower gains on sales of loans and lower gains on sales of investment securities this quarter . Non - interest expense this quarter remained below amounts in the same quarter last year . Total deposits this quarter declined slightly , and overall deposit costs remained at very low levels . Our net interest margin totaled a healthy 3.36 % this quarter . " Mr. Scheopner continued , “ Credit quality remained strong this quarter as the Company recorded net loan charge - offs of $ 397,000 compared to net loan charge - offs of $ 108,000 in the prior quarter and $ 381,000 in the same quarter last year . The allowance for loan losses totaled $ 8.8 million at September 30 , 2021 , and there was no provision for loan losses this quarter . The allowance for loan losses was 1.38 % of period end loans , excluding PPP loans for which no loan loss reserve has been provided . Loan modifications made related to COVID - 19 to support our customers have mostly been returned to their original contractual terms . Our capital and liquidity positions remain strong with total equity to assets of 10.79 % and loans to deposits of 61.6 % . 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 November 24 , 2021 , to common stockholders of record as of the close of business on November 10 , 2021. The Board of Directors also declared a 5 % stock dividend payable on December 15 , 2021 , to common stockholders of record on December 1 , 2021. This is the 21st consecutive year that the Board has declared a 5 % stock dividend . Management will host a conference call to discuss the Company's financial results at 10:00 a.m. ( Central time ) on Thursday , October 28 , 2021. Investors may participate via telephone by dialing ( 844 ) 200-6205 and using access code 354661. A replay of the call will be available through November 24 , 2021 , by dialing ( 866 ) 813-9403 and using access code 998942 .