Exhibit 99.1

PRESS RELEASE

Landmark Bancorp, Inc. Announces First Quarter Earnings Per Share of $1.13

Declares Cash Dividend of $0.20 per Share

(Manhattan, KS, May 4, 2021) – Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported earnings per share of $1.13 for the three months ended March 31, 2021, compared to $0.70 per share in the same quarter last year and $1.18 per share in the fourth quarter of 2020. Net income for the first quarter of 2021 amounted to $5.4 million, compared to $3.4 million for the first quarter of 2020 and $5.6 million in the prior quarter. For the three months ended March 31, 2021, the return on average assets was 1.77% and the return on average equity was 17.06%.

Michael E. Scheopner, President and Chief Executive Officer of Landmark, said, “We are pleased to report continued strong earnings during the first quarter of 2021, driven mainly by solid mortgage banking activities, continued growth in loans and deposits, and stable expenses. Compared to the same quarter last year, our net interest income grew 18.4% primarily as a result of increased interest on loans and lower deposit costs. As of March 31, 2021, total gross loans grew $169.6 million, or 30.2%, since March 31, 2020, while total deposits increased by $240.8 million, or 29.0%, between the same dates. Additionally, strategic liquidations of higher-coupon municipal investment securities resulted in a $1.1 million gain on sale of investments during the first three months of 2021. Mortgage banking activities remained strong due to the low interest rate environment, which has supported an active housing market. Credit quality was also strong this quarter as the Company recorded net loan charge-offs of $4,000 compared to net loan charge-offs of $291,000 in the prior quarter and $188,000 in the same quarter last year. Our provision for loan losses totaled $500,000 in the first quarter of 2021, compared to $1.2 million in the same period of 2020, as we continue to evaluate the economic uncertainty due mainly to the effects of the COVID-19 pandemic. We continue to value our community banking relationships across Kansas, which are important and contributed significantly to our strong earnings performance.”

Mr. Scheopner continued, “During this period of unprecedented economic uncertainty, Landmark supports our customers with loan modifications and access to funding through the Small Business Administration’s Paycheck Protection Program (PPP). We are currently actively working with borrowers to navigate the SBA loan forgiveness process for PPP loans as well as apply for additional PPP funds. We are also pleased to report that COVID-19 loan modifications have declined significantly over the past couple of quarters, with most of our borrowers returning to their original loan contractual terms. 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 across Kansas during this challenging time.”

Landmark’s Board of Directors declared a cash dividend of $0.20 per share, to be paid June 2, 2021, to common stockholders of record as of the close of business on May 19, 2021. Management will host a conference call to discuss the Company’s financial results at 10:00 a.m. (Central time) on Wednesday, May 5, 2021. Investors may participate via telephone by dialing (877) 510-0473. A replay of the call will be available through June 5, 2021, by dialing (877) 344-7529 and using conference number 10155221.

Net Interest Income

Net interest income amounted to $9.6 million for the three months ended March 31, 2021 compared to $8.1 million in the same period last year and $10.1 million in the fourth quarter of 2020. The increase of $1.5 million, or 18.4%, from the first quarter of 2020 was primarily the result of lower interest expense and growth in loans as a proportion of the asset mix. During the first quarter of 2021, compared to the same period last year, interest on loans increased $1.3 million while interest on deposits and borrowings declined by $814,000 offset by lower interest on investment securities. The increase in loan interest was mainly due to higher average loan balances in the first quarter of 2021, which increased $183.3 million, or 33.5%, compared to the same period of the prior year and included average PPP loans of $111.0 million which were not present in the first quarter of last year. PPP loans generated interest income of $1.1 million in the first quarter of 2021. The decrease in net interest income of $509,000, or 5.0%, from the fourth quarter of 2020 was primarily the result of lower interest earned on PPP loans which declined by $395,000 due primarily to lower amortization of origination fees related to the forgiveness process. On a tax-equivalent basis, the net interest margin declined from 3.67% and 3.87% in the first and fourth quarters of 2020, respectively, to 3.51% in the first three months of 2021. The decline in net interest margin was mainly the result of the repricing of our interest-bearing assets in a lower interest-rate environment and holding higher average balances of cash and cash equivalents that yield less than loans and investment securities.

Non-Interest Income

Total non-interest income was $6.7 million for the first quarter of 2021, an increase of $1.4 million, or 25.6%, compared to the same period last year and decreased slightly from the previous quarter. The increase in non-interest income during the first quarter of 2021 compared to the same period last year was primarily due to an increase of $1.9 million in gains on sales of mortgage loans this quarter due to higher originations of one-to-four family residential loans. Increased loan originations mainly resulted from the decline in mortgage interest rates that have fueled a robust housing market and refinancing activity. The first quarter of 2021 included gains of $1.1 million on the sale of higher-coupon municipal investment securities while the first quarter of 2020 included gains of $1.8 million on the sale of higher-coupon mortgage-backed investment securities. Compared to the fourth quarter of 2020, non-interest income declined 2.1% mainly due to lower fees and service charges and lower gains on sales of mortgage loans in the first quarter of 2021. The decline in gains on sales of mortgage loans resulted from a decline in loan originations of residential real estate loans due to the increase in mortgage rates compared to the prior quarter.

Non-Interest Expense

Non-interest expense totaled $9.1 million for the first quarter of 2021 compared to $8.1 million in the same period of 2020 and $9.5 million in the fourth quarter of 2020. The increase in non-interest expense in the first quarter of 2021 compared to the same period of last year was primarily due to an increase of $359,000 in compensation and benefits and $359,000 in other non-interest expense. The increase in compensation and benefits was driven primarily by an increase in mortgage lending incentives. The increase in other non-interest expense was related to costs associated with the increased volumes of PPP and mortgage lending. The decrease of $322,000 in compensation and benefits in the first quarter of 2021 as compared to the fourth quarter of 2020 was related to lower mortgage lending incentives and drove the decline in non-interest expense experienced between the two periods.

Income Tax Expense

Landmark recorded income tax expense of $1.4 million in the first quarter of 2021 compared to $785,000 in the first quarter of 2020 and $1.1 million in the fourth quarter of 2020. The effective tax rate increased from 18.9% in the first quarter of 2020 to 20.4% in the first quarter of 2021, primarily due to an increase in earnings before income taxes and lower tax-exempt income. The effective tax rate of 17.0% in the fourth quarter of 2020 was impacted by the recognition of $229,000 of previously unrecognized tax benefits that did not reoccur.

Balance Sheet Highlights

During the first quarter of 2021, total assets increased $60.8 million, or 5.1%, from December 31, 2020, to $1.2 billion. Compared to December 31, 2020, total gross loans increased $17.2 million, or 2.4%, to $730.7 million mainly due to an increase in both PPP and commercial real estate loans (increase of $17.2 million and $7.5 million respectively), offset in part by lower commercial and agricultural loans. Investment securities also increased $23.6 million, or 8.0%, to $320.9 million as of March 31, 2021 compared to December 31, 2020. During the current quarter, deposits increased $55.2 million, or 5.4%, to $1.1 billion compared to December 31, 2020 and this deposit growth contributed to an increase of $24.3 million in cash and cash equivalents as the growth in deposits exceeded increases in loans and investment securities. Stockholders’ equity increased to $128.3 million (book value of $26.97 per share) as of March 31, 2021 from $126.7 million (book value of $26.66 per share) as of December 31, 2020. The ratio of equity to total assets decreased to 10.27% at March 31, 2021, from 10.66% at year-end 2020 while the ratio of tangible equity to tangible assets (a non-GAAP financial measure) decreased from 9.31% to 8.98% between the same dates.

The allowance for loan losses totaled $9.3 million, or 1.27% of total gross loans (including PPP loans) at March 31, 2021, compared to $8.8 million, or 1.23% of total gross loans outstanding, at December 31, 2020. No allowance for loan losses has been allocated to PPP loans since they are guaranteed by the Small Business Administration. Non-performing loans increased to $11.0 million, or 1.51% of total loans, at March 31, 2021, from $10.5 million, or 1.47% in the previous quarter. Loans 30-89 days delinquent loans increased $3.5 million this quarter to $5.0 million, or 0.69% of gross loans, compared to $1.5 million last quarter. Net loan charge-offs total $4,000 this quarter, compared to $188,000 during the same quarter last year and $291,000 during the fourth quarter of 2020.

COVID-19 Loan Modifications and Forbearance Plans

As of March 31, 2021, Landmark had 4 loan modifications on outstanding loan balances of $6.8 million in connection with the COVID-19 pandemic that had not yet returned to contractual terms as compared to 6 loan modifications on outstanding loan balances of $7.2 million at December 31, 2020. These modifications consisted of payment deferrals that were applied to either the full loan payment or just the principal component. One commercial real estate loan totaling $3.7 million that was modified was also on non-accrual status as of March 31, 2021. Consistent with the CARES Act and regulatory guidance, the Company also entered into short-term forbearance plans and short-term repayment plans on 2 one-to-four family residential mortgage loans totaling $250,000 as of March 31, 2021.

About Landmark

Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the Nasdaq Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 30 locations in 24 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, Kincaid, LaCrosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka (2), Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

Special Note Concerning Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of Landmark. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. Additionally, all statements in this press release, including forward-looking statements, speak only as of the date they are made, and Landmark undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond our ability to control or predict, could cause actual results to differ materially from those in our forward-looking statements. These factors include, among others, the following: (i) the effects of the COVID-19 pandemic, including its potential effects on the economic environment, our customers and operations, as well as changes to federal, state or local government laws, regulations or orders in connection with the pandemic; (ii) the strength of the local, national and international economy; (iii) changes in state and federal laws, regulations and governmental policies concerning banking, securities, consumer protection, insurance, monetary, trade and tax matters; (iv) changes in interest rates and prepayment rates of our assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) timely development and acceptance of new products and services; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) our risk management framework; (ix) interruptions in information technology and telecommunications systems and third-party services; (x) changes and uncertainty in benchmark interest rates, including the elimination of LIBOR and the development of a substitute; (xi) the effects of severe weather, natural disasters, widespread disease or pandemics, or other external events; (xii) the loss of key executives or employees; (xiii) changes in consumer spending; (xiv) integration of acquired businesses; (xv) unexpected outcomes of existing or new litigation; (xvi) changes in accounting policies and practices, such as the implementation of CECL; (xvii) the economic impact of armed conflict or terrorist acts involving the United States; (xviii) the ability to manage credit risk, forecast loan losses and maintain an adequate allowance for loan losses; (xix) declines in the value of our investment portfolio; (xx) the ability to raise additional capital; (xxi) cyber-attacks; (xxii) declines in real estate values; (xxiii) the effects of fraud on the part of our employees, customers, vendors or counterparties; and (xxiv) any other risks described in the “Risk Factors” sections of reports filed by Landmark with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Additional information concerning Landmark and its business, including additional risk factors that could materially affect Landmark’s financial results, is included in our filings with the Securities and Exchange Commission.

LANDMARK BANCORP, INC. AND SUBSIDIARIES

Consolidated Balance Sheets (unaudited)

LANDMARK BANCORP, INC. AND SUBSIDIARIES

Consolidated Statements of Earnings (unaudited)

(1) Share and per share values at or for the period ended March 31, 2020 have been adjusted to give effect to the 5% stock dividend paid during

LANDMARK BANCORP, INC. AND SUBSIDIARIES

Select Ratios and Other Data (unaudited)

(1) Information for the three months ended March 31 and December 31 is annualized.

(2) Net interest margin is presented on a fully tax equivalent basis, using a 21% federal tax rate.

(3) Non-GAAP financial measures. See the “Non-GAAP Financial Measures” section of this press release for a reconciliation to the most cmparable GAAP equivalent.

LANDMARK BANCORP, INC. AND SUBSIDIARIES

Non-GAAP Finacials Measures (unaudited)