Market Commentary Highlights...

• The new fiscal year likely brings another trillion in U.S. federal debt to add to the mounting total.
• Federal debt held by the public has doubled from five years ago, before the financial crisis and Great Recession.
• The big buyers of federal debt have been foreigners; further dependence on foreign demand may continue to weaken the dollar and benefit precious metals.

View the entire Market Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of October 1, 2012. 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 here.

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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/

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.
Not FDIC Insured, No Bank Guarantee, May Lose Value
Not a Deposit, Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Market Commentary Highlights...

• A stock market-based “election poll” is useful, in that it highlights what the market is pricing in
  about the outcome of the November elections.
• Our “Wall Street” Election Poll suggests Republicans have yet to erode the gains in the odds that Democrats retain their control in Washington.
• Investors may have become too complacent that the Senate Democrats will retain their seats and quickly find a grand compromise with House Republicans to avoid going over the so called fiscal cliff into a recession in 2013.

View 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 4, 2012. 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 here.

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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/

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.
Not FDIC Insured, No Bank Guarantee, May Lose Value
Not a Deposit, Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Market Commentary Highlights...


•Spain secured a big win this weekend. While the defending champions in the Euro 2012 soccer tournament were unable to best Italy on the soccer field, Spain fared better against Germany by winning the best European bailout deal yet.

•While Spain is not in the same degree of fiscal distress as the other bailout countries, any contagion to Spain is of concern, since Spain’s outstanding government debt is roughly the size of Greece, Portugal, and Ireland combined.

•While Spain’s bailout may reinforce the notion held by some that all of the “PIGS” can be lumped together, the loss by Greece in Friday’s opening game of the Euro 2012 and Spain’s draw is symbolic of how successfully these different countries are dealing with their respective fiscal challenges.

View the entire Market Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of June 12, 2012. 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 here.

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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/

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.
Not FDIC Insured, No Bank Guarantee, May Lose Value
Not a Deposit, Not Insured by any Federal Government Agency


Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Market Commentary Highlights...

• Perhaps surprisingly, it appears that the tax rate changes have played little or no direct role in stock or bond market performance.

• The most likely reason is that the effects on after-tax returns were deemed negligible relative to the macroeconomic and geopolitical drivers.

• The far bigger impact is an indirect one determined by the magnitude and direction of overall fiscal policy taken (or not taken) in 2013 to put the United States back on a path to financial stability.

View the entire Market Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of April 16, 2012. 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 here.

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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

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.

Not FDIC Insured	No Bank Guarantee	May Lose Value
Not a Deposit	Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• Policy at home and abroad, both fiscal and monetary, is likely to dominate this week.

• The Federal Reserve (Fed) debates the costs and benefits of more monetary policy action at this week’s FOMC meeting.

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 22, 2011. 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

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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

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.

Not FDIC Insured	No Bank Guarantee	May Lose Value
Not a Deposit	Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• Policymakers remain on the front lines this week, as economic data takes a back seat.
• Several of the high frequency data points we watch to gauge recession risk have deteriorated in recent weeks, but the odds of a recession are still below 50% in the United States.

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 22, 2011. 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

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.

Not FDIC Insured	No Bank Guarantee	May Lose Value
Not a Deposit	Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• Over the past four weeks, only 25% of economic reports in the United States beat expectations.
  

• This week, Fed Chairman Bernanke is likely to continue to prod Congress to put the United States on a sounder fiscal footing.

• One of the under appreciated stories in the economy over the past several years has been the recovery in consumer net worth.

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 June 13, 2011. 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

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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...

• As the grand ocean liner the QE2 embarked on her final voyage, she ran aground on a sandbank near the Isle of Wight.
  

• Might the markets run aground on unseen risks as the Fed’s flagship QE2 program comes to its finish at the end of June?

• We do not think so, the economy is much better equipped to handle unseen risks than after the end of QE1.

• The real issue for the post-QE2 environment may be the financial position of the United States and the outlook for fiscal, rather than monetary, policy.
  

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 May 31, 2011. 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

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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