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8-K - FORM 8-K - LCNB CORPlcnb8k.htm
EX-99 - EXHIBIT 99.1 - LCNB CORPex991.htm

Exhibit 99.2

LCNB Corp. and Subsidiaries

Financial Highlights

(Dollars in thousands, except per share amounts)



Condensed Income Statement


Three Months Ended

December 31,


Year Ended

December 31,



2011


2010


2011


2010

Interest income

$

7,888


8,425


32,093


34,031

Interest expense


1,411


1,986


6,387


8,334

  Net interest income


6,477


6,439


25,706


25,697

Provision for loan losses


613


693


2,089


1,680

  Net interest income after provision


5,864


5,746


23,617


24,017

Non-interest income


1,981


2,694


7,764


8,887

Non-interest expense


5,321


5,314


21,849


21,277

  Income before income taxes


2,524


3,126


9,532


11,627

Provision for income taxes


570


769


2,210


2,494

  Net income from continuing operations


1,954


2,357


7,322


9,133

Income from discontinued operations, net of taxes


-


63


793


240

  Net income

$

1,954


2,420


8,115


9,373










Dividends per common share

$

0.16


0.16


0.64


0.64

Basic earnings per common share:









  Continuing operations

$

0.29


0.35


1.09


1.37

  Discontinued operations


-


0.01


0.12


0.03

Diluted earnings per common share:









  Continuing operations

$

0.28


0.34


1.08


1.36

  Discontinued operations


-


0.01


0.12


0.03

Average shares outstanding:









  Basic


6,699,005


6,688,285


6,692,385


6,687,500

  Diluted


6,767,406


6,738,090


6,751,599


6,736,622










Selected Financial Ratios









Return on average assets


0.97%


1.23%


1.02%


1.22%

Return on average equity


9.94%


13.09%


10.89%


13.36%

Dividend payout ratio


55.17%


44.44%


52.89%


45.71%

Net interest margin (tax equivalent)


3.63%


3.76%


3.70%


3.89%



Selected Balance Sheet Items


December 31,

2011


December 31,

2010

Investment securities

$

267,771


 251,053






Loans


461,262


454,991

  Less allowance for loan losses


2,931


2,641

  Net loans


458,331


452,350






Total assets


791,570


760,134

Total deposits


663,562


638,539

Short-term borrowings


21,596


 21,691

Long-term debt


21,373


23,120

Total shareholders equity


77,960


70,707






Shares outstanding at period end


6,704,723


6,689,743






Book value per share

$

11.63


10.57

Equity to assets ratio


9.85%


9.30%






Assets Under Management





LCNB Corp. total assets

$

791,570


760,134

Trust and investments (fair value)


221,950


223,545

Loans serviced


67,410


70,705

Business cash management


8,583


9,591

Brokerage accounts (fair value)


78,863


82,385

Total assets managed

$

1,168,376


1,146,360