Lcnb Corp Stock Price, News & Analysis

LCNB Corp. reported strong financial results for Q3 2024, with net income improving 11.4% year-over-year to $4.5 million. Adjusted net income increased 9.1% year-over-year to $4.8 million. The company's performance reflects the benefits of recent acquisitions, including Eagle Financial Bancorp and Cincinnati Bancorp. Key highlights include:

- LCNB Wealth Management assets up 24.4% year-over-year to a record $1.37 billion
- Tangible book value increased from $10.08 to $10.97 per share
- Total assets increased 18.4% to $2.35 billion
- Net loans increased 17.7% to $1.71 billion
- Total deposits increased 18.6% to $1.92 billion
- Total assets managed reached a record $4.25 billion

The company remains focused on integrating acquisitions, improving efficiencies, and pursuing opportunistic asset sales to enhance its balance sheet.

LCNB Corp. (Nasdaq: LCNB) has declared a cash dividend of $0.22 per common share for the third quarter of 2024. The dividend has a record date of September 3, 2024, and will be payable to shareholders on September 16, 2024. This announcement demonstrates LCNB's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties. The consistency in dividend payments may be seen as a positive sign of the company's financial stability and confidence in its future performance.

LCNB Corp. (NASDAQ: LCNB) reported financial results for Q2 2024, showcasing the impact of recent acquisitions. Key highlights include:

- Record total assets of $2.37 billion, up 21.6% year-over-year
- Net income of $0.9 million, or $0.07 per diluted share
- Adjusted net income of $4.1 million, or $0.29 per diluted share
- Net interest margin increased to 2.86%, up 14 basis points from Q1 2024
- Non-interest income grew 11.9% year-over-year to $4.1 million
- Total deposits increased 21.7% to $1.94 billion
- Record total assets managed of $4.21 billion

The company expects year-over-year earnings growth to reaccelerate in Q4 2024, driven by integration efforts, asset quality, and balance sheet strengthening initiatives.

LCNB Corp. (Nasdaq: LCNB) has announced the retirement of Matthew P. Layer, EVP and Chief Lending Officer, effective September 30, 2024. Layer has been with LCNB since 1982, contributing to the company's growth and success over 42 years. During his tenure, LCNB's loan portfolio expanded from $31 million to over $1.6 billion.

As part of the company's succession plan, Jeff D. Meeker, currently SVP and Chief Credit Officer, will assume the role of EVP and Chief Lending Officer upon Layer's retirement. Meeker, who joined LCNB in 2013, brings 38 years of banking experience and has held various leadership positions within the company.

LCNB Corp. announced that its Board of Directors declared a cash dividend of $0.22 per common share.

The dividend will have a record date of June 3, 2024, and will be payable on June 17, 2024.

LCNB Corp. reported financial results for the three months ended March 31, 2024, indicating a 9.7% increase in non-interest income, growth in cash and cash equivalents, and a decrease in debt and equity securities. The acquisition of Eagle Financial Bancorp, Inc. was successfully completed. Management foresees earnings growth reaccelerating in the fourth quarter of 2024. Net income for the first quarter was $1.9 million, with adjusted net income at $2.6 million. Net interest income remained stable, but non-interest income increased to $3.9 million. Total assets, net loans, and total deposits also saw significant growth.