LCNB CORP
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
LCNB$19.66-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $1,915 | 4,157 |
| Adjustments to reconcile net income to net cash flows from operating activities: | ||
| Depreciation, amortization, and accretion | 481 | 720 |
| Provision for (recovery of) credit losses | 125 | (57) |
| Deferred income tax provision (benefit) | 44 | (648) |
| Increase in cash surrender value of bank-owned life insurance | (318) | (271) |
| Realized and unrealized losses from equity securities, net | 10 | 31 |
| Realized losses from sales of debt securities, available-for-sale | 214 | — |
| Origination of mortgage loans for sale | (32,620) | (335) |
| Realized gains from sales of loans | (522) | (6) |
| Proceeds from sales of mortgage loans | 22,429 | 338 |
| Compensation expense related to restricted stock | 315 | 316 |
| Changes in: | ||
| Accrued interest receivable | (710) | (523) |
| Other assets | (936) | 597 |
| Other liabilities | (2,921) | (1,827) |
| TOTAL ADJUSTMENTS | (14,409) | (1,665) |
| NET CASH FLOWS (USED IN) PROVIDED BY OPERATING ACTIVITIES | (12,494) | 2,492 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from sales of equity securities | — | 963 |
| Proceeds from sales of debt securities, available-for-sale | 9,615 | — |
| Proceeds from maturities and calls of debt securities: | ||
| Available-for-sale | 4,624 | 2,769 |
| Held-to-maturity | 112 | 108 |
| Purchases of equity securities | (8) | (7) |
| Purchases of debt securities: | ||
| Available-for-sale | (2,207) | (300) |
| Purchase of Federal Reserve Bank stock | (688) | — |
| Purchases of Federal Home Loan Bank stock | (1,293) | (3,306) |
| Proceeds from redemption of Federal Home Loan Bank stock | — | 754 |
| Net increase in loans | 2,961 | 6,912 |
| Purchases of premises and equipment | (858) | (588) |
| NET CASH FLOWS PROVIDED BY INVESTING ACTIVITIES | 12,258 | 7,305 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase (decrease) in deposits | 34,104 | (1,089) |
| Net increase (decrease) in short-term borrowings | (87,395) | 5,045 |
| Proceeds from issuance of long-term debt | 50,000 | — |
| Principal payments on long-term debt | (493) | (474) |
| Proceeds from issuance of common stock | 130 | 103 |
| Repurchase of common stock | — | (1,838) |
| Cash dividends paid on common stock | (2,882) | (2,369) |
| NET CASH FLOWS USED IN FINANCING ACTIVITIES | (6,536) | (622) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (6,772) | 9,175 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 39,723 | 22,701 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $32,951 | 31,876 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| CASH PAID DURING THE YEAR FOR: | ||
| Interest paid | $10,312 | 3,433 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES: | ||
| Transfer from loans held for investment to loans held for sale | $64,869 | — |
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