Economic Commentary Highlights... 

• The September 2012 employment report did little to change our view on the labor market, the overall economy, or on the outlook for the Federal Reserve’s (Fed’s) quantitative easing (QE) program.

• The Federal Open Market Committee (FOMC) minutes revealed that when discussing the labor market, FOMC members noted that “growth in employment had been disappointing.”

• In our view, markets (and the public) are likely to continue to clamor for more specifics and  transparency from the Fed.

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 October 8, 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 
________________________________________________________________________

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... 

• This week will mark five long years since the S and P 500 reached its all-time peak on October 9, 2007.

• As the S and P 500 nears the previous highs for the third time in 15 years, is the market poised to repeat the pattern and soon embark on a third long and deep multi-year slide? 

• We see four key supports that make it unlikely that stocks will follow the pattern of another multiyear trip back to the bottom of the 15-year range: earnings, dividends, valuations, and the economy.

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 8, 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. 
________________________________________________________________________


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 ValueNot 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 July 2012 employment report was better than washed-out expectations, but still weak. More robust hiring may resume when uncertainties around the fiscal cliff, Europe, and China begin to lift.

•Personal income growth is probably the best indicator of the health of the labor market, and it remains tepid, suggesting a steep hill to climb for incumbents in the upcoming elections.

•Outside of the employment report, most measures of labor market health tell a similar picture: modest improvement.

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 7, 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

###

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...

•Progress toward a resolution of Europe’s fiscal issues, a long-term solution to our own “fiscal cliff,” and a reinvigorated Chinese economy could help the U.S. economy reaccelerate.
•We continue to forecast 2% gross domestic product (GDP) growth for 2012.
•We still expect the Fed to boost the economy with a third round of quantitative easing (QE3) before year-end.

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 July 30, 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

###

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 media seems less concerned about recession fears compared with 2011 and 2010.
• The June 2012 employment report, along with other recent reports on the labor market, do not show sustained labor market improvement.
• We believe the Federal Reserve (Fed) will begin another round of quantitative easing (QE) in the months ahead.

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 July 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 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/

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...

• The market is behaving like it is nervously expecting a big event. The stock market has been jumpy with frequent reversals in direction.
• August is the peak month for new babies to arrive. It has also been the month when the markets have definitively moved one way or the other in recent years.
• August may again mark a turning point for the stock market; however, investors are awaiting a number of key events including those surrounding: the election, Europe, earnings, and the economy.

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 July 11, 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.
###
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...

• If the Fed renews Operation Twist this week, as most market participants expect, size and timing will be important.
• The more specifics the Fed can provide around extending or replacing Operation Twist, the better for the markets.
• The Fed continues to watch Europe closely and will likely join any global central banks' efforts to provide liquidity, if needed, to the global financial system.

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, 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

###

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.

• Over the past week, the LPL Financial Current Conditions Index (CCI) rebounded to 221 from 205 last week, which was a level not seen since the end of last summer’s economic soft spot. The index has fallen from 249 back in February, reflecting weaker growth. However, the path of the CCI remains consistent with continued, though sluggish, economic growth in the United States.
• The growth momentum in the index has softened with the 13- and 52-week change in the index declining. The fall in the CCI echoes the spring and summer slides of 2010 and 2011, as the economy softened and stocks fell.

View the entire Current Conditions Index (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above commentary for the week of June 14, 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 http://www.mylsb.com/investments/commentary.aspx
_________________________________________________________________________________
The LPL Financial Research Current Conditions Index is a weekly measure of the conditions that underpin our outlook for the markets and economy. The CCI provides real-time context and insight into the trends that shape our recommended actions to manage portfolios. This index has proven to be a useful tool for investment decision making.

This weekly index is not intended to be a leading index or predictive of where conditions are headed, but a coincident measure of where they are right now. We want to track the conditions in real-time to aid in investment decision making. There are thousands of indicators-some lead the economy, some lag, while others merely offer a lot of statistical noise. We chose to create our own index tailored to the current environment to provide the clearest and most useful way to track conditions. The components of the CCI are periodically changed to retune the index to those factors most critical to the markets and economy so it may continue to be a valuable investment decision-making tool.

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.

###

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/default.aspx

Economic Commentary Highlights...


•Beige Book heralds the return of uncertainty.

•Federal Reserve (Fed) Chairman Ben Bernake still open to more quantitative easing despite recent press reports.

•Households still digging out of net worth destruction brought on by housing bust and financial crisis.

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 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 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/

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.

###

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...


•We expect the Beige Book to still paint a picture of an expanding economy.

•The Beige Book should also discuss the uncertainties (Europe, the looming fiscal cliff, and the upcoming U.S. elections) and the return of normal weather.

•The Beige Book is expected to provide the Federal Reserve (Fed) with plenty of scope to initiate another round of quantitative easing.
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 5, 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

###

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 latest Beige Book indicates that the economy is still expanding at a modest pace.

• Rising fuel prices are a concern, but food prices are less of concern today than last spring.

• The warm weather almost certainly made an impact on economic activity in the late winter and early spring.

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 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 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.

Over the past week, the LPL Financial Current Conditions Index rebounded slightly to 238. The level of the CCI indicates an environment fostering growth in the economy and markets.

The growth momentum in the index has stalled as the economy transitions from strong recovery to uneven, modest growth. Most components of the CCI point to an environment of slowing growth momentum over the past 13- and 52-weeks.

View the entire Current Conditions Index (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of June 27, 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 ____________________________________________________________________________________

The LPL Financial Research Current Conditions Index is a weekly measure of the conditions that underpin our outlook for the markets and economy. The CCI provides real-time context and insight into the trends that shape our recommended actions to manage portfolios. This index has proven to be a useful tool for investment decision making.

This weekly index is not intended to be a leading index or predictive of where conditions are headed, but a coincident measure of where they are right now. We want to track the conditions in real-time to aid in investment decision making. There are thousands of indicators-some lead the economy, some lag, while others merely offer a lot of statistical noise. We chose to create our own index tailored to the current environment to provide the clearest and most useful way to track conditions. The components of the CCI are periodically changed to retune the index to those factors most critical to the markets and economy so it may continue to be a valuable investment decision-making tool.
___________________________________________________________________

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 economic data as the market may begin to judge effectiveness, and wisdom of quantitative easing.
• Budget battle begins, but it is not likely to end for a while.
• Economy appears to be accelerating, but at what speed?

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 November 15, 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...

• The July ISM report and the July jobs report bookend an extremely busy week for U.S. economic data.
• The economic data released in the United States last week was mixed; the data in Europe was solid, and resource-based central banks continued tightening monetary policy last week.

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 2, 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/

Economic Commentary Highlights:

• The silver lining of European induced double-dip fears was evident in last week’s data.
• In sharp contrast to last week, there is a ton of economic, policy news and events for markets to digest this week.

Read the entire Economic Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of July 12, 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/