PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2017

Condensed financial information for LCNB Corp., parent company only, follows (in thousands):



Condensed Balance Sheets:
December 31,	2017		2016
Assets:
Cash on deposit with subsidiary	$	308	491
Investment securities available-for-sale, at fair value	919		893
Investment in subsidiaries	148,850		141,325
Other assets	194		235
Total assets	$	150,271	142,944

Liabilities	$	—	—

Shareholders' equity	150,271		142,944
Total liabilities and shareholders' equity	$	150,271	142,944



Condensed Statements of Income
Year ended December 31,	2017		2016	2015
Income:
Dividends from subsidiaries	$	6,800	7,300	5,400
Interest and dividends	36		38	58
Net gain on sales of securities	14		8	254
Total income	6,850		7,346	5,712

Total expenses	1,290		1,014	1,016

Income before income tax expense/benefit and equity in undistributed income of subsidiaries	5,560		6,332	4,696
Income tax benefit	380		336	250
Equity in undistributed income of subsidiaries	7,032		5,814	6,528
Net income	$	12,972	12,482	11,474



Condensed Statements of Cash Flows
Year ended December 31,	2017			2016		2015
Cash flows from operating activities:
Net income	$	12,972		12,482		11,474
Adjustments for non-cash items -
Increase in undistributed income of subsidiaries	(7,032		)	(5,814	)	(6,528	)
Other, net	84			126		42
Net cash flows provided by operating activities	6,024			6,794		4,988

Cash flows from investing activities:
Purchases of securities available-for-sale	(54		)	(177	)	(215	)
Proceeds from maturities of securities available-for-sale	50			55		—
Proceeds from sales of available-for-sale securities	43			173		1,217
Investments in subsidiaries	(250		)	—		—
Cash paid for business acquisition	—			—		(3,757	)
Net cash flows provided by (used in) investing activities	(211		)	51		(2,755	)

Cash flows from financing activities:
Proceeds from issuance of common stock	360			379		390
Repurchase of stock warrants	—			(1,545	)	—
Cash dividends paid on common stock	(6,407		)	(6,375	)	(6,239	)
Other	51			653		165
Net cash flows used in financing activities	(5,996		)	(6,888	)	(5,684	)
Net change in cash	(183		)	(43	)	(3,451	)
Cash at beginning of year	491			534		3,985
Cash at end of year	$	308		491		534