Market Commentary Highlights...

• This week features the most market-moving events of the year, so far. Not only do they hold the potential to affect the markets this week, the decisions made this week may shape the market environment for years to come.
• Here we will detail what we will be watching for at each event.
• It is important to not get caught up in the volatility that each event this week may bring and instead stay focused on what emerges to form the bigger picture.

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 20, 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.

Economic Commentary Highlights...

• The nations facing the most turmoil in the coming quarters (and likely years), including Greece, Portugal and Ireland, together account for less than 5% of the eurozone’s economic output.

• Europe is less dependent on the consumer, but much more dependent on trade, construction, and the government sector compared with the United States.

•  Countries within Europe that export to nations outside the European Union may be best positioned.

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 February 21, 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 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.

Market Commentary Highlights...

• Despite all the headlines, yields for Italy, Spain, Portugal and Ireland’s sovereign debt
  are at or below where they were in mid- July when the second rescue package for Greece was drafted.

• While the second Greek rescue stemmed the decline in the sovereign bond market, as intended, stocks have plunged since then as investors increasingly priced in a greater “haircut” the banks may have to take on their Greek bond holdings.

• The stock market’s rise, despite no resolution on the terms of the comprehensive rescue package, appears tied in part to the increased clarity around limiting the amount of the haircut, lowering the odds of further bank failures and a 2008-style financial crisis.

View the entire economic Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of October 24, 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 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.

Market Commentary Highlights...

• Europe’s Greece fire has been burning for well over a year despite attempts by the ECB and IMF to put it out. Investors are feeling the heat of the Greece fire, as it has added to the pressures on markets in recent weeks. However, after having spilled over into some European banks, it is highly unlikely to spread to the rest of the world in a dangerous fashion and trigger another global financial crisis.
  

• While the events of 2008 are fresh in market participants’ minds, and it is often easy to draw comparisons to that financial crisis, there are other historical parallels — such as Argentina’s default in late 2001 — that present much less dire comparisons.

• Many factors are likely to avoid a financial crisis stemming from Greece’s financial problems. European banks have already cut their exposure to the troubled peripheral European nations in half, a rescue package is emerging that avoids restructuring until banks are further braced for it, and money market funds are insignificantly exposed to European lenders most at risk of losses on Greek debt.

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 20, 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