08/30/12 Election Poll Highlights...

• In the past week ending Wednesday, the LPL Financial “Wall Street” Election Poll Index demonstrated a modest shift back toward Democrats. The index has remained mostly range-bound in recent months, largely sustaining the shift toward Democrats seen earlier in the summer.
• Over the past week, the overall market was flat. Most of the Democrat-favored industries produced modest gains last week, while most of the Republican favored industries suffered losses including a steep loss for Coal Producers.

View the entire Election Poll (pdf format)
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Lincoln Savings Bank and LSB Financial are pleased to provide the above Election Poll for the week of August 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

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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...

• While macroeconomic data and events are likely to remain key drivers of the market this week, microeconomics will also garner investors’ attention as companies begin to release first quarter earnings reports.

• In each of the past two years, as the last week of April unfolded, the S&P 500 Index peaked and began to decline 16 – 19% as the back half of the earnings season got underway. We will be watching developments closely to determine if a repeat of that pattern will emerge again this year.

• During this earnings season, we are paying special attention to the breadth of earnings growth, earnings guidance on upcoming quarters, and profit margins.

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 9, 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.

• Over the past week, the LPL Financial Current Conditions Index was basically unchanged at 232. The path of the CCI remains consistent with continued economic growth in the United States.

• The growth momentum in the index has softened with the 13- and 52-week change in the index turning flat once again.

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 March 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 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.

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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/default.aspx

Market Commentary Highlights...

• The stock market, measured by the S&P 500, has posted a high single-digit gain for the year, and the S&P 500 index is around 1,350. Sound familiar? It should. It is exactly what happened last year.

• Last year, stocks shed their gains for the year over the weeks following the run-up into the President’s Day holiday.

• While we do not believe the S&P 500 has reached its high for the year, the index may be due for a modest pullback, driven by a combination of: stalling earnings growth, mounting fiscal headwinds, and European debt and economic concerns resurfacing.

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 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 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.

Over the past week, the LPL Financial Current Conditions Index remained relatively unchanged at 202. The path of the CCI remains consistent with continued economic growth in the United States.

The growth momentum in the index has picked up lately with the 13-week change in the Index turning positive and the 52-week change moderating it’s contraction.

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 December 7, 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.
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

Market Commentary Highlights...

• Investors may not need to worry about the impact of a recession since it already appears to be fully priced in to both stocks and bonds.

• This is not unusual. Historically, the stock market has often bottomed before the recession was even declared. And, importantly, there have been times when the stock market fell and priced in a recession that did not take place, such as the bear markets of 1987 and 1998.

• Based on our analysis of past earnings cycles, a recession level for the S&P 500 Index is about 1120, which is exactly where the Index bottomed out three times during the month of August.

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 September 6, 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.