LCNB CORP
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
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.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| INTEREST INCOME: | ||||
| Interest and fees on loans | $24,342 | 17,875 | 71,860 | 50,781 |
| Dividends on equity securities: | ||||
| With a readily determinable fair value | 10 | 9 | 28 | 34 |
| Without a readily determinable fair value | 30 | 29 | 91 | 79 |
| Interest on debt securities: | ||||
| Taxable | 1,181 | 1,296 | 3,596 | 3,962 |
| Non-taxable | 163 | 173 | 451 | 523 |
| Other investments | 672 | 286 | 2,095 | 910 |
| TOTAL INTEREST INCOME | 26,398 | 19,668 | 78,121 | 56,289 |
| INTEREST EXPENSE: | ||||
| Interest on deposits | 9,578 | 4,426 | 27,458 | 10,217 |
| Interest on short-term borrowings | — | 830 | 1,116 | 3,142 |
| Interest on long-term debt | 1,850 | 841 | 5,465 | 1,240 |
| TOTAL INTEREST EXPENSE | 11,428 | 6,097 | 34,039 | 14,599 |
| NET INTEREST INCOME | 14,970 | 13,571 | 44,082 | 41,690 |
| PROVISION FOR (RECOVERY OF) CREDIT LOSSES | 660 | (114) | 1,313 | (141) |
| NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) CREDIT LOSSES | 14,310 | 13,685 | 42,769 | 41,831 |
| NON-INTEREST INCOME: | ||||
| Fiduciary income | 2,097 | 1,736 | 6,137 | 5,263 |
| Service charges and fees on deposit accounts | 1,899 | 1,397 | 4,820 | 4,324 |
| Net losses from sales of debt securities, available-for-sale | — | — | (214) | — |
| Bank-owned life insurance income | 654 | 282 | 1,313 | 830 |
| Net gains from sales of loans | 1,625 | 29 | 2,197 | 38 |
| Other operating income | 132 | 134 | 163 | 350 |
| TOTAL NON-INTEREST INCOME | 6,407 | 3,578 | 14,416 | 10,805 |
| NON-INTEREST EXPENSE: | ||||
| Salaries and employee benefits | 9,025 | 7,044 | 26,585 | 21,454 |
| Equipment expenses | 420 | 397 | 1,205 | 1,175 |
| Occupancy expense, net | 966 | 805 | 2,915 | 2,367 |
| State financial institutions tax | 505 | 396 | 1,409 | 1,189 |
| Marketing | 320 | 223 | 704 | 735 |
| Amortization of intangibles | 304 | 113 | 838 | 336 |
| FDIC insurance premiums, net | 547 | 224 | 1,445 | 663 |
| Contracted services | 807 | 671 | 2,435 | 1,978 |
| Merger-related expenses | 281 | 302 | 3,376 | 742 |
| Other non-interest expense | 2,212 | 2,069 | 7,772 | 6,208 |
| TOTAL NON-INTEREST EXPENSE | 15,387 | 12,244 | 48,684 | 36,847 |
| INCOME BEFORE INCOME TAXES | 5,330 | 5,019 | 8,501 | 15,789 |
| PROVISION FOR INCOME TAXES | 798 | 949 | 1,129 | 2,868 |
| NET INCOME | $4,532 | 4,070 | 7,372 | 12,921 |
| Earnings per common share: | ||||
| Basic | $0.31 | 0.37 | 0.53 | 1.16 |
| Diluted | 0.31 | 0.37 | 0.53 | 1.16 |
| Weighted average common shares outstanding: | ||||
| Basic | 14,103,358 | 11,038,720 | 13,761,582 | 11,094,185 |
| Diluted | 14,103,358 | 11,038,720 | 13,761,582 | 11,094,185 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.