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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.
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LCNB Corp. (NASDAQ: LCNB) reported a stable first quarter for 2023, ending March 31 with a loan to deposit ratio of 86.97% and total nonperforming loans at a low 0.05% of total loans. Total earning assets reached a record $1.74 billion, a 1.4% increase year-over-year. The company’s first quarter earnings per share were $0.37, slightly down from $0.38 the previous year, with net income decreasing 8.1% to $4.2 million. Despite a 2.0% drop in net interest income to $13.9 million, LCNB’s non-interest income rose to $3.58 million. The bank's asset management saw growth, achieving $3.16 billion in total assets, reflecting a stable consumer base and increased fiduciary income.
LCNB Corp. (Nasdaq: LCNB) announced a new share repurchase program, authorizing the repurchase of up to 500,000 shares. Since 2020, the company has repurchased approximately 1.85 million shares, reducing its shares outstanding by 14.3%. Over this period, LCNB increased its annual dividend by 11%, now at $0.81 per share, demonstrating robust financial health. The new program replaces the previous one from May 2022. The repurchase strategy will be influenced by share price and market conditions, but the company retains the discretion to halt the program at any time.
LCNB Corp. has reported record financial results for 2022, with total assets reaching $1.92 billion and net income increasing by 5.5% year-over-year to $22.1 million. Diluted earnings per share rose 16.3% to a record $1.93. The company experienced strong loan growth, with net loans increasing 2.3% to $1.40 billion. Despite a decrease in total deposits by 1.5% due to competition and seasonal trends, the net interest margin expanded to 3.55%. Additionally, LCNB returned capital to shareholders through a dividend increase to $0.81 per share and a share repurchase program totaling $23.66 million.