Market Commentary Highlights...

•As professional investors generally have maintained an outlook for gains this year, individual investors seem to be plagued by distrust in the financial system and continue to sell stocks.
•One of the reasons investors were able to get over the scandals and shocks to the market in prior decades relatively quickly was that investors were focused more on long-term results than they are today.
•Investor time horizons have contracted from three to five years* a few decades ago to less than six months today, making short-term market moving events and volatility a bigger negative factor for individual investors.

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 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 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.

Market Commentary Highlights...

•Given the plunge in European stocks over the past year, are European stocks a good value? We doubt it.
•In general, European stocks are not inexpensive relative to U.S. stocks. This is because earnings per share in Europe have been falling along with prices, keeping price-to-earnings (PE) ratios from offering an attractive discount.

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 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 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...


•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...

• The purported end of the world falls exactly one year from this Wednesday, December 21, 2011. Like a primeval Y2K event, 2012-ers believe that one year from now the earth will experience a catastrophe or an enlightenment.
• Surprisingly, we agree. The year 2012 will be one of transformation: politically, fiscally, and economically, with profound impacts for investors.

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 December 19, 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.

###

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.

###

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...

• There are several reasons why this stock market rally may be more durable than those that preceded it in recent months.

• It is possible that the substantial developments in Europe are taking the fear of a repeat of the financial crisis of 2008 off the table and solid economic data in the United States is taking the fear of a double dip recession off the table.

• Other signs that this rally may be more durable include: global cyclical sector leadership, declining European “TED spread”, and the rising yield on the 10-year Treasury note.

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 17, 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.

###

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.