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Ledyard Financial Group Reports Record Earnings
April 19, 2021 GMT
HANOVER, N.H.--(BUSINESS WIRE)--Apr 19, 2021--
Ledyard Financial Group, Inc. (ticker symbol LFGP), the holding company for Ledyard National Bank, is proud to announce record earnings for the first quarter of 2021. Our focus continues to be strengthening our financial position, maintaining our strong liquidity position, and preserving core earnings. Our results demonstrate that our financial condition remains strong and that our core businesses continue to thrive in this prolonged difficult environment. As a community bank we continue to focus on our customers and their financial needs during these highly unusual times. We entered this crisis in a position of strength and remain focused on what we need to do to ensure we are able to support our core constituents. Net income for the quarter ended March 31, 2021, was $1,835,872 or $0.58 per share compared to $1,620,939 or $0.51 per share for the same period in 2020, an increase of $214,933 or 13%. The underlying results for the Company were extremely positive. We are optimistic that the worst of the pandemic is behind us. The Company is well positioned to navigate any difficulties that we may encounter in the future, and we remain focused on supporting our core businesses and executing on our strategic plan.