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Investment Securities
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities
 
The amortized cost and estimated fair value of equity and debt securities at June 30, 2021 and December 31, 2020 are summarized as follows (in thousands):
 Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
June 30, 2021
Debt Securities, Available-for-Sale:
U.S. Treasury notes$64,317 255 78 64,494 
U.S. Agency notes95,830 587 928 95,489 
Corporate bonds1,900 7 14 1,893 
U.S. Agency mortgage-backed securities98,358 2,123 388 100,093 
Municipal securities:    
Non-taxable11,725 188 14 11,899 
Taxable36,023 828 204 36,647 
 $308,153 3,988 1,626 310,515 
Debt Securities, Held-to-Maturity:
Municipal securities:
Non-taxable$20,840 125 — 20,965 
Taxable3,402 22 — 3,424 
$24,242 147 — 24,389 
December 31, 2020
Debt Securities, Available-for-Sale:
U.S. Treasury notes$2,268 120 — 2,388 
U.S. Agency notes66,983 950 33 67,900 
Corporate Bonds1,200 — 21 1,179 
U.S. Agency mortgage-backed securities88,455 3,180 1 91,634 
Municipal securities:    
Non-taxable12,651 282 — 12,933 
Taxable32,409 1,031 3 33,437 
 $203,966 5,563 58 209,471 
Debt Securities, Held-to-Maturity:
Municipal securities:
Non-taxable$21,408 181 — 21,589 
Taxable3,402 6 37 3,371 
$24,810 187 37 24,960 
Information concerning debt securities with gross unrealized losses at June 30, 2021 and December 31, 2020, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (dollars in thousands):
 Less than Twelve MonthsTwelve Months or Greater
 Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
June 30, 2021
Available-for-Sale:
U.S. Treasury notes$29,734 78 — — 
U.S. Agency notes68,180 928 — — 
Corporate bonds1,186 14 — — 
U.S. Agency mortgage-backed securities32,947 388 — — 
Municipal securities:  
Non-taxable1,741 14 — — 
Taxable13,488 204 — — 
 $147,276 1,626 — — 
December 31, 2020
Available-for-Sale:
U.S. Treasury notes$— — — — 
U.S. Agency notes10,674 33 — — 
Corporate Bonds679 21 — — 
U.S. Agency mortgage-backed securities290 1 — — 
Municipal securities:   
Non-taxable38 — — — 
Taxable3,063 3 — — 
 $14,744 58 — — 
Held-to-Maturity:
Municipal securities:
  Non-taxable$1 — — 
  Taxable3,113 37 — — 
$3,114 37 — — 

Management has determined that the unrealized losses at June 30, 2021 are primarily due to fluctuations in market interest rates and do not reflect credit quality deterioration of the securities.   Because LCNB does not have the intent to sell the investments and it is more likely than not that LCNB will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, LCNB does not consider these investments to be other-than-temporarily impaired.
Contractual maturities of debt securities at June 30, 2021 were as follows (in thousands).  Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.
 Available-for-SaleHeld-to-Maturity
Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due within one year$7,476 7,563 1,830 1,837 
Due from one to five years87,421 88,315 5,641 5,688 
Due from five to ten years113,868 113,528 2,038 2,066 
Due after ten years1,030 1,016 14,733 14,798 
 209,795 210,422 24,242 24,389 
U.S. Agency mortgage-backed securities98,358 100,093 — — 
 $308,153 310,515 24,242 24,389 

Debt securities with a market value of $142,938,000 and $118,599,000 at June 30, 2021 and December 31, 2020, respectively, were pledged to secure public deposits and for other purposes required or as permitted by law.

Certain information concerning the sale of debt securities, available-for-sale, for the three and six months ended June 30, 2021 and 2020 was as follows (in thousands):
 Three Months Ended
June 30,		Six Months Ended 
June 30,
 2021202020212020
Proceeds from sales$— — — 8,786 
Gross realized gains— — — 221 
Gross realized losses— — — — 

Realized gains or losses from the sale of securities are computed using the specific identification method.

Equity securities with a readily determinable fair value are carried at fair value, with changes in fair value recognized in other operating income in the consolidated condensed statements of income. Equity securities without a readily determinable fair value are measured at cost minus impairment, if any, plus or minus any changes resulting from observable price changes in orderly transactions, as defined, for identical or similar investments of the same issuer. LCNB was not aware of any impairment or observable price change adjustments that needed to be made at June 30, 2021 on its investments in equity securities without a readily determinable fair value.

The cost and estimated fair value of equity securities with a readily determinable fair value at June 30, 2021 and December 31, 2020 are summarized as follows (in thousands):
June 30, 2021December 31, 2020
 CostFair
Value		CostFair
Value
Mutual funds$1,403 1,394 1,395 1,402 
Equity securities778 1,094 778 987 
Total equity securities with a readily determinable fair value$2,181 2,488 2,173 2,389 
Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the three and six months ended June 30, 2021 and 2020 is as follows (in thousands):
Three Months Ended June 30,Six Months Ended 
June 30,
2021202020212020
Net gains (losses) recognized$(22)120 90 453 
Less net realized gains on equity securities sold— — — 559 
Net unrealized gains (losses) recognized and still held at period end$(22)120 90 (106)