LCNB CORP

Listed Company

LCNBCIK 0001074902NasdaqAcceleratedNational Commercial BanksOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$23.12M

Total Assets

$2.24B

Equity

$273.93M

Shares Out

14.24M

Op. Cash Flow

$34.40M

+ 13F Filer

Business

LCNB CORP is a financial holding company that conducts substantially all of its operations through its wholly owned bank subsidiary, LCNB National Bank, providing traditional community banking services. It offers a range of loan products, deposit accounts, consumer and residential mortgages, commercial lending, wealth management and trust services, brokerage services via an arrangement with LPL Financial, and ancillary services such as cash management, ATM and electronic banking. Key business divisions include LCNB National Bank, the Wealth Management Division, and LCNB Risk Management. The company serves customers primarily in Southwestern and South Central Ohio and Northern Kentucky through branch offices, ATMs and digital channels.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	94	96	72	59	56
With a readily determinable fair value	43,000	38,000	43,000	56,000	51,000
Without a readily determinable fair value	130,000	146,000	132,000	29,000	—
Taxable	5	5	5	5	4
Non-taxable	625,000	607,000	688,000	753,000	864,000
Other investments	3	3	2	641,000	431,000
TOTAL INTEREST INCOME	103	105	80	66	61
Interest on deposits	27	36	17	4	4
Interest on short-term borrowings	3,000	1	4	416,000	6,000
Interest on long-term debt	5	7	3	613,000	469,000
TOTAL INTEREST EXPENSE	33	44	23	5	—
NET INTEREST INCOME	70	61	56	61	57
PROVISION FOR CREDIT LOSSES	2	2	2	250,000	—
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	68	59	54	61	57
Net losses on sales of debt securities, available-for-sale	0	−214,000	0	0	303,000
Bank owned life insurance income	1	2	1	1	1
Net gains from sales of loans	3	3	697,000	196,000	852,000
Other operating income	501,000	316,000	631,000	360,000	1
TOTAL NON-INTEREST INCOME	22	20	15	14	16
Salaries and employee benefits	35	35	29	28	28
Equipment expenses	2	2	2	2	2
Occupancy expense, net	4	4	3	3	3
State financial institutions tax	2	2	2	2	2
Marketing	1	1	1	1	1
Amortization of core deposit intangibles	1	1	532,000	478,000	1
FDIC insurance premiums, net	1	2	932,000	530,000	492,000
Computer maintenance and supplies	2	1	1	1	1
Contracted services	4	3	3	3	2
Merger-related expenses	140,000	3	5	0	0
Other non-interest expense	10	9	7	8	6
TOTAL NON-INTEREST EXPENSE	62	63	54	48	48
INCOME BEFORE INCOME TAXES	28	16	15	27	26
Income Tax Expense (Benefit)	5	2	3	5	5
NET INCOME	23	13	13	22	21
Basic (in dollars per share)	1.63	0.97	1.1	1.93	1.66
Diluted (in dollars per share)	1.63	0.97	1.1	1.93	1.66
Basic (in shares)	14	14	11	11	13
Diluted (in shares)	14	14	11	11	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	18	20	27	20	17
Interest-bearing demand deposits	3	15	12	2	1
Total cash and cash equivalents	22	36	40	23	18
Interest-bearing time deposits	3	250,000	0	—	—
Equity securities with a readily determinable fair value, at fair value	1	1	1	2	3
Equity securities without a readily determinable fair value, at cost	4	4	4	2	2
Debt securities, available-for-sale, at fair value	232	258	—	—	—
Debt securities, held-to-maturity, at cost, net of allowance for credit losses of $11 and $5 at December 31, 2025 and December 31, 2024, respectively	16	16	—	—	—
Federal Reserve Bank stock, at cost	6	6	5	5	5
Federal Home Loan Bank stock, at cost	21	21	15	4	5
Loans held-for-sale	2	6	0	—	—
Loans, net of allowance for credit losses of $13,704 and $12,001 at December 31, 2025 and December 31, 2024, respectively	1,692	1,710	1,713	1,396	—
Premises and equipment, net	39	41	36	33	35
Operating lease right-of-use assets	6	6	6	7	6
Goodwill	90	90	80	59	59
Core deposit and other intangibles, net	9	11	9	2	2
Bank-owned life insurance	55	54	50	44	43
Interest Receivable	8	9	8	7	8
Other Assets	34	38	31	26	21
TOTAL ASSETS	2,241	2,307	2,292	1,919	1,904
Noninterest-bearing	466	460	462	506	502
Interest-bearing	1,374	1,419	1,362	1,099	1,127
Total deposits	1,840	1,878	1,824	1,605	1,629
Short-term borrowings	0	0	97	71	0
Long-term debt	104	155	113	—	—
Operating lease liabilities recognized	7	6	6	7	6
Accrued interest and other liabilities	15	15	15	17	20
TOTAL LIABILITIES	1,967	2,054	2,056	1,719	1,665
COMMITMENTS AND CONTINGENT LIABILITIES	—	—	—	0	0
Preferred shares no par value, authorized 1,000,000 shares, none outstanding	0	0	0	0	0
Common shares no par value; authorized 19,000,000 shares; issued 17,409,085 and 17,329,423 shares at December 31, 2025 and December 31, 2024, respectively; outstanding 14,193,577 and 14,118,040 shares at December 31, 2025 and December 31, 2024, respectively	188	187	174	144	143
Retained earnings	152	141	140	139	126
Treasury shares at cost, 3,215,508 and 3,211,383 shares at December 31, 2025 and December 31, 2024, respectively	−56	−56	−56	—	—
Accumulated other comprehensive loss, net of taxes	−10	−19	−22	−30	−2
TOTAL SHAREHOLDERS' EQUITY	274	253	235	201	239
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	2,241	2,307	2,292	1,919	1,904

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, Amortization and Accretion, Net	668,000	604,000	3	3	3
Deferred income tax provision (benefit)	3	2	−323,000	−345,000	294,000
Increase in cash surrender value of bank owned life insurance	−1	−1	−1	−1	−1
Bank-owned life insurance benefits in excess of cash surrender value	0	−306,000	0	0	—
Realized and unrealized (gains) losses from equity securities, net	−30,000	9,000	5,000	292,000	−141,000
Realized gains from sales of premises and equipment, net	0	−455,000	−422,000	455,000	−6,000
Origination of mortgage loans for sale	−99	−144	−4	−9	−34
Realized gains from sales of loans	−3	−4	−697,000	−196,000	—
Proceeds from sales of originated loans	105	147	4	9	34
Realized losses from sales of acquired loans	0	484,000	0	0	—
Proceeds from sales of acquired loans	0	79	0	0	—
Compensation expense related to restricted stock	650,000	588,000	563,000	531,000	249,000
Accrued income receivable	733,000	−5,000	245,000	517,000	338,000
Other assets	7,000	−2	9	2	−4
Accrued interest and other liabilities	2	1	−1	2	−237,000
TOTAL ADJUSTMENTS	11	80	11	7	−3
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES	34	93	23	29	18
Proceeds from sales	0	0	963,000	0	0
Purchases of securities	−40,000	−36,000	−2	−19,000	−16,000
Proceeds from sales	0	10	5	0	21
Proceeds from maturities, prepayments and calls	42	32	23	21	33
Purchases of securities	−5	−20	−497,000	−39	−162
Proceeds from maturities, prepayments and calls	2	3	3	4	4
Purchases of securities	−1	−3	−280,000	−1	−2
Purchase of interest-bearing time deposits	−2	−250,000	0	0	—
Proceeds from redemption of Federal Reserve Bank stock	0	24,000	0	0	0
Purchase of Federal Reserve Bank stock	0	−1	−434,000	0	0
Proceeds from redemption of Federal Home Loan Bank stock	0	93,000	1	1	0
Purchase of Federal Home Loan Bank stock	0	−1	−5	−374,000	0
Net decrease (increase) in loans	20	49	−84	−32	−68
Proceeds from bank owned life insurance death benefits	0	514,000	0	0	0
Purchases of premises and equipment	−959,000	−4	−3	−884,000	−2
Proceeds from sales of premises and equipment	13,000	848,000	654,000	875,000	6,000
Cash and cash equivalents acquired, net of cash paid for acquisition	0	−2	2	0	—
Funding of tax credit investments	−2	−2	−3	−3	—
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES	52	61	−60	−48	−175
Net increase (decrease) in deposits	−38	−79	9	−24	173
Net decrease in short-term borrowings	0	−110	−30	71	0
Proceeds from issuance of long-term debt	363,000	50	95	15	0
Principal payments on long-term debt	−51	−8	−7	−6	−12
Proceeds from issuance of common stock	625,000	525,000	428,000	408,000	434,000
Repurchase of common stock	−69,000	13,000	−3	−24	—
Cash dividends paid on common stock	−12	−12	−10	−9	−10
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	−101	−159	54	24	144
NET CHANGE IN CASH AND CASH EQUIVALENTS	−14	−4	17	5	−14
Interest	33	43	22	5	4
Income taxes	−83,000	0	3	4	—
Transfer from loans held-for-investment to held-for sale	0	65	0	0	—
Transfer from loans held-for-sale to held-for-investment	0	5	0	0	—
Transfer from premises and equipment to premises held-for-sale	525,000	0	0	—	—
Right-of-use assets obtained in exchange for lease obligations	1	167,000	0	370,000	—

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 168 positions

Reported AUM

$212.82M

Holdings

168

Top sector

$212.82M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$212.82M	100.0%

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LCNB Corp.	—	275.8K	$4.84M	2.3%
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LCNB Corp.	—	242.3K	$4.26M	2.0%
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