LCNB CORP
For the period ended Sep 30, 2024. Filed Nov 6, 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.
Sep 30, 2024 · Filed Nov 6, 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)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $7,372 | 12,921 |
| Adjustments to reconcile net income to net cash flows from operating activities: | ||
| Depreciation, amortization, and accretion | 755 | 2,395 |
| Provision for (recovery of) credit losses | 1,313 | (141) |
| Deferred income tax provision (benefit) | (1,421) | (793) |
| Increase in cash surrender value of bank-owned life insurance | (1,007) | (830) |
| Bank-owned life insurance death benefits in excess of cash surrender value | (306) | — |
| Realized and unrealized (gains) losses from equity securities, net | (25) | 78 |
| Realized losses from sales of debt securities, available-for-sale | 214 | — |
| Realized (gains) losses from sales of premises and equipment | (454) | (427) |
| Origination of mortgage loans for sale | (104,719) | (2,205) |
| Realized gains from sales of mortgage loans | (3,040) | (38) |
| Proceeds from sales of mortgage loans | 107,357 | 2,218 |
| Realized losses from sales of acquired loans | 842 | — |
| Proceeds from sales of acquired loans | 47,718 | — |
| Compensation expense related to restricted stock | 501 | 481 |
| Changes in: | ||
| Accrued interest receivable | (754) | (605) |
| Other assets | (223) | 1,497 |
| Other liabilities | (1,008) | (2,300) |
| TOTAL ADJUSTMENTS | 45,743 | (670) |
| NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | 53,115 | 12,251 |
| 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 | 18,218 | 14,262 |
| Held-to-maturity | 684 | 1,146 |
| Purchases of equity securities | (27) | (22) |
| Purchases of debt securities: | ||
| Available-for-sale | (6,195) | (497) |
| Held-to-maturity | (2,558) | (280) |
| Purchase of Federal Reserve Bank stock | (1,343) | — |
| Purchases of Federal Home Loan Bank stock | (1,293) | (4,537) |
| Proceeds from redemption of Federal Home Loan Bank stock | 93 | 1,369 |
| Net (increase) decrease in loans | 50,442 | (56,711) |
| Purchases of premises and equipment | (3,423) | (1,723) |
| Proceeds from sale of premises and equipment | 846 | 514 |
| Cash and cash equivalents paid for acquisition, net of cash acquired | (2,144) | — |
| NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES | 62,915 | (45,516) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase (decrease) in customer deposits | (39,819) | 11,920 |
| Net increase (decrease) in short-term borrowings | (110,395) | (41,455) |
| Proceeds from issuance of long-term debt | 50,000 | 95,000 |
| Principal payments on long-term debt | (7,492) | (1,431) |
| Proceeds from issuance of common stock | 391 | 315 |
| Repurchase of common stock | — | (3,326) |
| Cash dividends paid on common stock | (9,064) | (7,037) |
| NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | (116,379) | 53,986 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (349) | 20,721 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 39,723 | 22,701 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $39,374 | 43,422 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| CASH PAID DURING THE YEAR FOR: | ||
| Interest paid | $32,707 | 13,706 |
| Income taxes paid, net of refunds | — | 2,226 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES: | ||
| Transfer from loans held-for-investment to loans held-for-sale | $60,471 | — |
| Transfer from loans held-for-sale to loans held-for-investment | 4,817 | |
| Right-of-use assets obtained in exchange for lease obligations | 62 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.