LCNB Corporation (LCNB) Financial Statements (2024 and earlier)

Company Profile

Business Address 2 NORTH BROADWAY
LEBANON, OH 45036
State of Incorp. OH
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24,97420,68234,11923,07722,11825,386
Cash and cash equivalents22,70118,13631,73020,76520,04025,386
Short-term investments2,2732,5462,3892,3122,078 
Financing receivable, accrued interest, after allowance for credit loss   
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss   
Total current assets:24,97420,68234,11923,07722,11825,386
Noncurrent Assets
Operating lease, right-of-use asset6,2486,3576,2745,444
Property, plant and equipment33,04235,38535,37634,78732,62734,927
Intangible assets, net (including goodwill)61,04861,69462,67463,22764,26333,982
Goodwill59,22159,22159,22159,22159,22130,183
Intangible assets, net (excluding goodwill)1,8272,4733,4534,0065,0423,799
Investment, proportional amortization method, elected, amount16,95014,95012,0007,0005,0003,000
Total noncurrent assets:117,288118,386116,324110,458101,89071,909
Other undisclosed assets1,776,8591,764,5611,595,4411,505,7731,512,9191,198,343
TOTAL ASSETS:1,919,1211,903,6291,745,8841,639,3081,636,9271,295,638
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt71,4555,00012,00018,99856,23047,000
Total current liabilities:71,4555,00012,00018,99856,23047,000
Noncurrent Liabilities
Liabilities, other than long-term debt7,1858,6558,2374,5963,3722,257
Investment program, proportional amortization method, elected, commitment7,1858,6558,2374,5963,3722,257
Total noncurrent liabilities:7,1858,6558,2374,5963,3722,257
Other undisclosed liabilities1,639,8061,651,3701,484,8221,387,6661,358,3401,096,110
Total liabilities:1,718,4461,665,0251,505,0591,411,2601,417,9421,145,367
Equity
Equity, attributable to parent200,675238,604240,825228,048218,985150,271
Common stock144,069143,130142,443141,791141,17076,977
Treasury stock, value(52,689)(29,029)(20,719)(18,847)(12,013)(11,665)
Accumulated other comprehensive income (loss)(29,954)(1,809)4,043673(4,719)(2,342)
Retained earnings139,249126,312115,058104,43194,54787,301
Total equity:200,675238,604240,825228,048218,985150,271
TOTAL LIABILITIES AND EQUITY:1,919,1211,903,6291,745,8841,639,3081,636,9271,295,638

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues65,89361,97866,02365,41954,74453,571
Net investment income65,69761,12663,72665,13254,52944,463
Financial services revenue9,108
Cost of revenue
(Amortization of Mortgage Servicing Rights (MSRs))
(268)(346)(226)(148)(125)(123)
Gross profit:65,62561,63265,79765,27154,61953,448
Operating expenses(10,326)(11,052)(10,517)(10,772)(11,408)(26,949)
Other operating income, net
(Noninterest Income, Other Operating Income)
3601,2931,291889549483
Operating income:55,65951,87356,57155,38843,76026,982
Nonoperating income1,9401,0741,441943738867
Bank owned life insurance income1,0741,0741,441943738867
Profit (loss) from real estate operations866     
Interest and debt expense(4,711)(4,053)(7,562)(10,788)(6,425)(3,599)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (26,290)(22,518)(20,279)(7,006)
Income from continuing operations before equity method investments, income taxes:52,88848,89424,16023,02517,79417,244
Other undisclosed loss from continuing operations before income taxes(25,942)(23,309)    
Income from continuing operations before income taxes:26,94625,58524,16023,02517,79417,244
Income tax expense(4,818)(4,611)(4,085)(4,113)(2,949)(4,272)
Income from continuing operations:22,12820,97420,07518,91214,84512,972
Income before gain (loss) on sale of properties:20,97420,07518,91214,84512,972
Net income attributable to parent:22,12820,97420,07518,91214,84512,972
Other undisclosed net loss available to common stockholders, basic(114)(75)(45)(31)(18)(7)
Net income available to common stockholders, diluted:22,01420,89920,03018,88114,82712,965

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:22,12820,97420,07518,91214,84512,972
Other comprehensive income (loss)(28,145)(5,852)3,3705,392(1,852)275
Comprehensive income (loss), net of tax, attributable to parent:(6,017)15,12223,44524,30412,99313,247

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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