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Overview
LCNB Corp is a well-established financial holding company based in Lebanon, Ohio, with a robust presence in the regional banking landscape. Operating through its subsidiary, LCNB National Bank, the company offers both commercial banking and personal banking services. Its extensive product suite includes various deposit services, lending options, online banking facilities, and investment services, strategically designed to meet the diverse financial needs of customers and communities in southwest and south central Ohio. Recognized for its long tradition of relationship banking, LCNB Corp emphasizes a community-centric approach, fostering strong relationships with customers through a network of conveniently located branches.
Banking Services and Product Offerings
LCNB Corp provides an array of essential banking services that cater to both individuals and businesses. Customers can access standard deposit products such as checking and savings accounts, as well as more specialized services like night depositories and safe deposit boxes. Its lending portfolio encompasses a broad spectrum of loans including personal, commercial, and industrial loans, ensuring tailored financial solutions that address unique customer requirements. Additionally, the company offers treasury services, business support services, and digital banking options, reflecting a commitment to convenience and innovation in the banking experience.
Market Position and Industry Context
Situated in a competitive regional market, LCNB Corp balances serving traditional banking needs with the demands of modern digital convenience. Its strategic focus is anchored in longstanding community relationships and a dedication to exceeding customer expectations, attributes that distinguish it within the financial sector. The company operates as a major community bank by maintaining deep local insights and leveraging its regional network, positioning itself as a vital financial partner for both retail and commercial clients. Keywords such as "commercial banking", "personal banking", and "community banking" underscore its expertise in delivering comprehensive financial services.
Operational Strategy and Business Model
The operational model of LCNB Corp revolves around establishing and nurturing strong customer relationships, which is crucial in a market marked by competitive financial institutions. The company generates revenue primarily through a diverse portfolio that includes various types of loans, deposit accounts, and fee-based services related to trust, treasury, and investment activities. This multifaceted approach not only enhances its service offerings but also mitigates risk through diversification. The bank's operational strategy is meticulously designed to balance traditional in-branch services with modern digital banking capabilities, guaranteeing accessibility and adaptability to evolving customer expectations.
Community Engagement and Trust
LCNB Corp exhibits a deep commitment to community engagement, embodying the ethos of relationship banking. The company’s long-established history in the region underlines its trustworthiness and deep understanding of local economic dynamics. Through continuous engagement and personalized service, it serves as a dependable financial partner to numerous communities, reinforcing its reputation as a stable and customer-focused financial institution.
Competitive Landscape and Differentiation
In the competitive landscape of regional banking, LCNB Corp distinguishes itself through its extensive network and ingrained local expertise. While the banking sector hosts several key players, LCNB Corp’s emphasis on personalized service, community orientation, and a well-rounded suite of services positions it uniquely. The integration of modern digital solutions with traditional banking practices provides customers with a seamless financial experience, ensuring that the company remains relevant and reliable in an evolving marketplace.
The comprehensive overview provided here reflects a blend of traditional banking acumen and modern financial innovation, offering an in-depth insight into LCNB Corp's operational ethos and commitment to service excellence.
LCNB Corp. (Nasdaq: LCNB) has announced its first-quarter dividend for 2025. The company's Board of Directors has declared a cash dividend of $0.22 per common share. Shareholders of record as of March 3, 2025, will receive the dividend payment on March 17, 2025.
LCNB Corp reported strong financial results for Q4 2024, with GAAP net income improving 41.9% quarter-over-quarter to $0.44 per diluted share. The company's net income for Q4 2024 was $6.1 million, compared to a net loss of $(293,000) in the same period last year. For the full year 2024, net income reached $13.5 million.
Key highlights include a 15.1% year-over-year increase in LCNB Wealth Management assets to $1.38 billion, generating fiduciary income of $2.3 million in Q4. The company maintained strong asset quality with non-performing assets to total assets at 0.20%. Total assets increased 0.7% to $2.31 billion, while deposits grew 3.0% to $1.88 billion.
The company completed over $97 million in opportunistic asset sales during 2024, maintaining robust liquidity levels and improved net interest margin, which stood at 3.22% for Q4 2024 compared to 2.99% in Q4 2023.
LCNB Corp (Nasdaq: LCNB) has declared a quarterly cash dividend of $0.22 per common share. Shareholders of record as of December 2, 2024, will receive the dividend payment on December 16, 2024. This announcement represents the company's commitment to returning value to shareholders through regular dividend distributions.
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.
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