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Stock Based Compensation
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Based Compensation STOCK BASED COMPENSATION
 
The 2015 Ownership Incentive Plan (the "2015 Plan") was ratified by LCNB's shareholders at the annual meeting on April 28, 2015 and allows for stock-based awards to eligible employees, as determined by the Compensation Committee of the Board of Directors. Awards may be made in the form of stock options, appreciation rights, restricted shares, and/or restricted share units. The 2015 Plan provides for the issuance of up to 450,000 shares of common stock. The 2015 Plan will terminate on April 28, 2025 and could be subject to earlier termination by the Board Compensation Committee.

Stock-based awards may be in the form of treasury shares or newly issued shares.

Restricted stock awards granted under the 2015 Plan during the three months ended March 31, 2024 and 2023 were as follows:
20242023
  
 
Shares		Weighted Average Grant Date Fair Value 
 
Shares		Weighted Average Grant Date Fair Value
Outstanding, January 1,79,017 $17.94 58,314 $17.99 
Granted41,703 13.87 44,150 17.84 
Vested(36,127)16.39 (21,624)17.86 
Forfeited— — — — 
Outstanding, March 31,84,593 $16.59 80,840 $17.94 

The following table presents expense recorded in salaries and employee benefits for restricted stock awards and the related tax information for the three months ended March 31, 2024 and 2023 (in thousands):
 Three Months Ended 
March 31,
20242023
Restricted stock expense$315 316 
Tax effect66 66 

Unrecognized compensation expense for restricted stock awards was $1,189,000 at March 31, 2024 and is expected to be recognized over a period of 4.9 years.