Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2012

Summarized income from discontinued operations

LCNB sold its insurance agency subsidiary on March 23, 2011 and therefore its financial results are reported in the income statements as income from discontinued operations, net of taxes. Income from discontinued operations for the six months ended June 30, 2011 includes the gain recognized from the sale less certain related closing costs, taxes, and a curtailment expense recognized in LCNB's nonqualified defined benefit retirement plan due to the sale. The following table summarizes income (loss) from discontinued operations for the periods indicated (in thousands):

	For the Three Months		For the Six Months
	Ended June 30,		Ended June 30,
		2011		2011

Dakin Insurance Agency financial results:
Revenue	$	-		381
Non-interest expenses		(2)		301
Income from operations before income taxes		2		80
Gain from sale of insurance agency		-		1,503
Closing costs related to sale		(13)		(60)
Curtailment expense on nonqualified defined benefit retirement plan		-		(191)
Provision for income taxes		(20)		(539)
Total income (loss) from discontinued operations, net of taxes		(31)		793

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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