LCNB Corporation - LCNB STOCK NEWS

LCNB Corp. has appointed Takeitha W. Lawson to its Board of Directors, enhancing its commitment to strong corporate governance. Lawson brings significant experience in corporate finance and investor relations from her tenure at prominent companies, including Cincinnati Bell and Lockheed Martin. CEO Eric Meilstrup emphasized the importance of independent perspectives as LCNB aims for sustainable growth. With this addition, the Board now consists of eleven members, maintaining a majority of independent directors and a 25% diversity rate.

LCNB Corp. reported financial results for Q3 and YTD September 30, 2021, showcasing significant growth.

Wealth assets rose by 30.5% year-over-year to a record $1.03 billion. Total earning assets increased, contributing to a 13.3% rise in net income, totaling $4.82 million.

Earnings per diluted share surged 18.2% to $0.39. Net interest income grew 4.0% year-over-year to $14.07 million, while non-performing loans decreased by 37.2%.

LCNB Corp. (Nasdaq: LCNB) announced a cash dividend of $0.19 per common share, with a record date of September 1, 2021. Shareholders will receive the dividend on September 15, 2021. This decision reflects the company’s commitment to returning value to its shareholders. LCNB Corp. operates through LCNB National Bank, serving communities in Ohio and offering a variety of banking services, including personal and business lending, online banking, and investment services.

LCNB Corp. (NASDAQ: LCNB) reported record second-quarter earnings of $5.29 million for Q2 2021, up from $5.06 million last year, reflecting a strong asset quality and growth in managed assets. The company's earnings per share increased to $0.41 from $0.39. Non-interest income rose 30% to $4.31 million, driven by increased fiduciary income and deposit service charges. However, non-interest expenses increased by $1.09 million due to higher salaries and operational costs. LCNB's asset quality remains strong, with nonperforming assets at 0.18%, down from 0.23% a year ago.

LCNB Corp. (Nasdaq: LCNB) announced a cash dividend of $0.19 per common share, with a record date of June 1, 2021 and payable on June 15, 2021. This dividend reflects the company's commitment to returning value to its shareholders. LCNB Corp. operates primarily through its subsidiary, LCNB National Bank, serving communities in Southwest and South Central Ohio with a variety of banking services.

LCNB Corp. reported a 4.3% increase in net income for Q1 2021, totaling $5.24 million compared to $5.03 million in Q1 2020. Earnings per share rose to $0.41 from $0.39. Total assets managed reached a record of over $3 billion, with fiduciary income growing by 38.6%. While net interest income increased 1.4% to $14.37 million, non-interest income fell 9.7% to $3.47 million. LCNB recorded a $52,000 credit for loan losses, a significant decrease from $1.17 million last year.

LCNB Corp. (Nasdaq: LCNB) has declared a cash dividend of $0.19 per common share. The dividend is scheduled with a record date of March 1, 2021 and will be paid to shareholders on March 15, 2021. This decision reflects the company's commitment to returning value to its shareholders and maintaining a strong financial position.

LCNB Corp. reported strong financial results for Q4 2020, with net income rising to $5.742 million, up from $4.830 million year-over-year. Earnings per share increased to $0.44 from $0.37. For the full year, net income reached $20.075 million, compared to $18.912 million in 2019, while EPS improved to $1.55 from $1.44. The efficiency ratio improved to 63.39%. The credit provision for loan losses rose to $2.014 million due to potential economic impacts from COVID-19, yet asset quality remained stable, with nonperforming loans at 0.29% of total loans.

LCNB Corp. (NASDAQ: LCNB) reported a third quarter 2020 net income of $4,250,000, down from $4,727,000 year-over-year. Earnings per share fell to $0.33 from $0.36. However, net income for the nine-month period increased to $14,333,000 compared to $14,082,000 last year, with EPS rising to $1.11 from $1.07. Core earnings before provisions and taxes rose 3.4% in Q3 and 12.4% year-to-date. Non-interest income surged 27.5%, largely due to strong residential mortgage demand. Despite asset stability, LCNB increased its loan loss allowance in response to COVID-19 uncertainties.