Q1 2023 Update - Outstanding Results at Luana Savings Bank

May 11, 2023

Luana Savings Bank is pleased to report outstanding 1st Quarter financial results, solidifying its place as a “top 10 banking institution in Iowa.”

Operating efficiencies and a pristine loan portfolio continue to give Luana Savings Bank a huge advantage over the majority of the banking industry. Numbers talk --- according to Q1 Uniform Bank Performance Reports (UBPR), Luana Savings Bank operates 66% more efficiently than other banks in its peer group. This is shown by Luana’s non-interest expense ratio of .79% compared to 2.38% for its peers, (lower % is better). And when numbers have nothing to say --- as in -0- loans past due 90 days and -0- non-accrual loans --- a bank can truly boast it has a pristine loan portfolio rarely matched within the industry.

These consistent results solidify the confidence consumers continue to have in Luana Saving Bank. Outstanding performance in these areas demonstrates -0- stresses on bank capital, ultimately proving the institution is strong and sound. Luana Savings Bank is positioned to continue this outstanding performance now and into the future.

*Figures as of 3-31-2023 Uniform Bank Performance Report (UBPR), www.FDIC.gov

Efficiency Ratio: Total Overhead Expense expressed as a percentage of Net Interest Income (TE) plus Non-Interest Income.