Attached files
file | filename |
---|---|
8-K - FORM 8-K - LCNB CORP | lcnb8k.htm |
EX-99 - EXHIBIT 99.1 - LCNB CORP | ex991.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 |