Economic Commentary Highlights...

• Although it is a relatively quiet week for economic data, each report is likely to be scoured for clues as to the Fed’s next move.
• With more than 20 global central banks are tightening, when will the markets care?

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of September 27, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. http://www.mylsb.com/

Market Commentary Highlights...

In a surprisingly transparent statement made last week, the Fed told us that inflation is so low
they are not doing enough to promote growth. To combat fears of a downward spiral of deflation
the Fed is preparing a reflation strategy.

Reflation beneficiaries include precious metals, commodities, commodity-sensitive stocks,
Emerging Markets, real estate, and Treasuries.

Reflation acts as a negative for the dollar and the Financial sector.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 27, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. http://www.mylsb.com/

Market Commentary Highlights...

The Fed typically provides added economic stimulus at this point in the economic cycle.

We put about a 25% chance of quantitative easing in September, with a greater chance of action at the November meeting scheduled the day after the mid-term elections.

If the Fed does act and announces action at their meeting on Tuesday, the stock market may break out of its current range to the upside. Market participants would like to see action from the Fed as a backstop against a double-dip recession rather than having the potential to cause problematic inflation.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 20, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com/

Economic Commentary Highlights...

• Housing and the Federal Reserve (Fed) are likely to dominate the landscape this week.
• The FOMC may begin to prepare markets for the conditions that could trigger another round of QE later in 2010 or in early 2011.

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of September 20, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com

Economic Commentary Highlights...

• Market participants will be firming up their third quarter GDP estimates this week.
• Bank lending to business has probably stopped falling.

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of September 13, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. http://www.mylsb.com/

Market Commentary Highlights...

As the combat troops leave Iraq and the proportional response to the threat in Afghanistan is assessed, the United States will likely regain the resources and focus to project more effective foreign policy influence over the rest of its interests.

In response, the currently modest geopolitical risk premiums in oil and some emerging market stocks and bonds may become more volatile as renewed U.S. influence conflicts with nations reluctant to give up their regional authority.

We will seek to protect from threats and profit from opportunities created by the shifting geopolitical landscape.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 13, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. http://www.mylsb.com/

Market Commentary Highlights...

Investors were taught a lesson in sentiment last week that they may not soon forget as investor pessimism preceded key economic data that was better than economists’ and
investors’ expectations.

While still reflecting an economic soft spot, last week’s data provides a report card for August that argues against a return to recession.

Investors graded on a curve and gave the reports high marks just for avoiding a failed economic recovery.

With it shaping up to be a textbook September, investors should brace for the price volatility that has defined this year to continue.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 7, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com

Economic Commentary Highlights...

• A quiet week for data, but policy (both fiscal and monetary), along with a batch of European economic data, will greet market participants as they return from vacation mode.
• After the best week for economic data in the United States since spring 2010, should markets rethink the double-dip scenario?

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of September 7, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com

Economic Commentary Highlights...

• A busy week for data capped off by the August employment report.
• While temperatures have been well above normal this summer, the economic data has been downright chilly, raising the odds of more policy action from the Federal Reserve later this year.

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of August 30, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com

Market Commentary Highlights...

We continue to believe a late-year rally for stocks will fulfill our long held outlook for modest single-digit gains on the year for the S&P 500.

Unfortunately, all of the potential catalysts are a month or more away while the economic data
continues to disappoint.

In the meantime, we continue to find yield-producing investments attractive, including High- Yield Bonds, which offer investors a return while waiting out the volatility in the stock market.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of August 30, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

###

This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com