EX-99 3 ex992.htm EXHIBIT 99.2 Converted by EDGARwiz

Exhibit 99.2


LCNB Corp. and Subsidiaries

Financial Highlights

(Dollars in thousands, except per share amounts)



Condensed Income Statement

 

Three Months Ended

December 31,

 

Twelve Months Ended

December 31,

  

2009

 

2008

 

2009

 

2008

Interest income

$

8,821

 

8,663

 

34,855

 

34,350

Interest expense

 

2,351

 

3,216

 

10,060

 

13,421

  Net interest income

 

6,470

 

5,447

 

24,795

 

20,929

Provision for loan losses

 

430

 

298

 

1,400

 

620

  Net interest income after provision

 

6,040

 

5,149

 

23,395

 

20,309

Non-interest income

 

2,255

 

2,023

 

8,772

 

8,453

Non-interest expense

 

5,237

 

4,959

 

22,115

 

19,934

  Income before income taxes

 

3,058

 

2,213

 

10,052

 

8,828

Provision for income taxes

 

738

 

546

 

2,286

 

2,225

  Net income

 

2,320

 

1,667

 

7,766

 

6,603

Preferred stock dividends and discount accretion

 

594

 

-

 

1,108

 

-

  Net income available to common shareholders

$

1,726

 

1,667

 

6,658

 

6,603

         

Dividends per common share

$

0.16

 

0.16

 

0.64

 

0.64

Basic earnings per common share

$

0.26

 

0.25

 

1.00

 

0.99

Diluted earnings per common share

$

0.25

 

0.25

 

0.99

 

0.99

Average basic shares outstanding

 

6,687,232

 

6,687,232

 

6,687,232

 

6,687,232

Average diluted shares outstanding

 

6,721,681

 

6,687,232

 

6,701,309

 

6,687,232

         

Selected Financial Ratios

        

Return on average assets

 

1.23%

 

1.00%

 

1.07%

 

1.03%

Return on average equity

 

13.33%

 

11.24%

 

10.43%

 

11.35%

Dividend payout ratio

 

61.54%

 

64.00%

 

64.00%

 

64.65%

Net interest margin (tax equivalent)

 

3.99%

 

3.70%

 

3.96%

 

3.74%



Selected Balance Sheet Items

 

December 31,

2009

 

December 31,

2008

Investment securities

$

217,639

 

139,272

     

Loans

 

460,416

 

453,811

  Less allowance for loan losses

 

2,998

 

2,468

  Net loans

 

457,418

 

451,343

     

Total assets

 

734,409

 

649,731

Total deposits

 

623,839

 

577,622

Short-term borrowings

 

14,605

 

2,206

Long-term debt

 

24,960

 

5,000

Total shareholders’ equity

 

65,615

 

58,116

     

Shares outstanding at period end

 

6,687,232

 

6,687,232

     

Book value per share

$

9.81

 

8.69

Equity to assets ratio

 

8.93%

 

8.94%

     

Assets Under Management

    

LCNB Corp. total assets

$

734,409

 

649,731

Trust and investments (fair value)

 

197,125

 

174,775

Mortgage loans serviced

 

57,369

 

37,783

Business cash management

 

17,902

 

39,979

Brokerage accounts (fair value)

 

72,202

 

53,633

Total assets managed

$

1,079,007

 

955,901