EX-99.2 3 ex992.htm EXHIBIT 99.2 Exhibit 99.2


Exhibit 99.2

LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)

Condensed Income Statement
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Interest income
$
8,450

 
7,404

 
24,931

 
22,706

Interest expense
995

 
1,190

 
3,138

 
3,784

Net interest income
7,455

 
6,214

 
21,793

 
18,922

Provision for loan losses
178

 
436

 
369

 
742

Net interest income after provision
7,277

 
5,778

 
21,424

 
18,180

Non-interest income
2,047

 
2,205

 
6,732

 
6,296

Non-interest expense
6,163

 
5,564

 
19,578

 
16,342

Income before income taxes
3,161

 
2,419

 
8,578

 
8,134

Provision for income taxes
804

 
572

 
2,145

 
2,023

Net income
$
2,357

 
1,847

 
6,433

 
6,111

 
 
 
 
 
 
 
 
Dividends per common share
$
0.16

 
0.16

 
0.48

 
0.48

 
 
 
 
 
 
 
 
Earnings per common share:
 
 
 
 
 
 
 
Basic
0.31

 
0.27

 
0.85

 
0.91

Diluted
0.30

 
0.27

 
0.83

 
0.90

 
 
 
 
 
 
 
 
Average shares outstanding:
 
 
 
 
 
 
 
Basic
7,636,098

 
6,721,699

 
7,592,818

 
6,713,959

Diluted
7,787,098

 
6,797,675

 
7,722,686

 
6,787,000

 
 
 
 
 
 
 
 
Selected Financial Ratios:
 
 
 
 
 
 
 
Return on average assets
0.99
%
 
0.90
%
 
0.91
%
 
1.01
%
Return on average equity
10.27
%
 
8.98
%
 
9.24
%
 
10.17
%
Dividend payout ratio
51.61
%
 
59.26
%
 
56.47
%
 
52.75
%
Net interest margin (tax equivalent)
3.57
%
 
3.44
%
 
3.55
%
 
3.55
%





Selected Balance Sheet Items
September 30, 2013
 
December 31, 2012
Investment securities
$
296,819

 
 
276,970
 
 
 
 
 
Loans
566,109

 
 
453,783
 
Less allowance for loan losses
(3,423
)
 
 
(3,437)
 
Net loans
562,686

 
 
450,346
 
 
 
 
 
Total assets
942,349

 
 
788,637
 
Total deposits
808,335

 
 
671,471
 
Short-term borrowings
22,811

 
 
13,756
 
Long-term debt
12,446

 
 
13,705
 
Total shareholders’ equity
92,215

 
 
82,006
 
 
 
 
 
 
Shares outstanding at period end
7,640,163

 
 
6,731,900
 
 
 
 
 
 
Book value per share
$
12.07

 
 
12.18
 
Tangible book value per share
9.93

 
 
11.29
 
Equity to assets ratio
9.79

%
 
10.40
%
 
 
 
 
Assets Under Management
 
 
 
LCNB Corp. total assets
$
942,349

 
 
788,637
 
Trust and investments (fair value)
248,104

 
 
221,558
 
Mortgage loans serviced
91,125

 
 
71,568
 
Business cash management
6,946

 
 
6,673
 
Brokerage accounts (fair value)
110,697

 
 
96,424
 
Total assets managed
$
1,399,221

 
 
1,184,860
 

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