Ledyard Financial Group Reports Q4 2023 and Full-Year 2023 Earnings and Declares Quarterly Dividend
LEDYARD FINCL GROUP INC (LFGP)
NASDAQ:AMEX Investor Relations:
investors.ledyardbank.com
Company Research
Source: Business Wire
HANOVER, N.H.--(BUSINESS WIRE)--Ledyard Financial Group, Inc. (“The Company”, ticker symbol: LFGP), the holding company for Ledyard National Bank, today announced financial results for Q4 2023 and Full-Year (FY) 2023. The strategic investment made in the Company’s core banking business continues to build and complement its robust wealth management platform and the Company remains focused on building and leveraging infrastructure that promotes growth and the pursuit of making life better for its clients, its employees, its shareholders, and the communities it serves.Q4 2023 and FY 2023 HighlightsQ4 net income was $116 thousand, down $723 thousand from Q3 2023, with the decline attributable to reserve growth consistent with loan production volume in the quarter.Provision expense was $1.0 million higher than in Q3 2023, accounting for more than 100% of the quarter-over-quarter change in pre-tax income.The Company experienced net recoveries (rather than net charge-offs) in both Q4 and
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