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LCNB Corporation reports developments tied to its role as a financial holding company for LCNB National Bank, which serves customers and communities in Southwest and South-Central Ohio. Company news commonly covers community banking results, net interest income and margin trends, loan growth, deposit and treasury services, credit-loss provisioning, asset quality, and book value measures.
Recurring updates also include common stock dividends, board and leadership changes, and activity in LCNB Wealth Management, including trust, investment services, fiduciary income, IRAs, and related customer services. The company’s banking disclosures reflect personal, business, and agricultural lending alongside checking, savings, online banking, and other commercial and retail banking services.
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.
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