EX-99 3 ex992.htm EXHIBIT 99.2 .

Exhibit 99.2


LCNB Corp. and Subsidiaries

Financial Highlights

(Dollars in thousands, except per share amounts)


Share and per share data have been restated to reflect a 100% stock dividend paid on May 10, 2007.



Condensed Income Statement

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

  

2008

 

2007

 

2008

 

2007

Interest income

$

8,608

 

7,920

 

25,687

 

23,703

Interest expense

 

3,290

 

3,532

 

10,205

 

10,226

  Net interest income

 

5,318

 

4,388

 

15,482

 

13,477

Provision for loan losses

 

188

 

 75

 

322

 

158

  Net interest income after provision

 

5,130

 

4,313

 

15,160

 

13,319

Non-interest income

 

2,203

 

2,117

 

6,430

 

6,220

Non-interest expense

 

4,928

 

4,628

 

14,975

 

13,777

  Income before income taxes

 

2,405

 

1,802

 

6,615

 

5,762

Provision for income taxes

 

611

 

432

 

1,679

 

1,397

  Net income

$

1,794

 

1,370

 

4,936

 

4,365

         

Dividends per common share

$

0.16

 

0.155

 

0.48

 

0.465

Basic earnings per common share

$

0.27

 

0.22

 

0.74

 

0.69

Diluted earnings per common share

$

0.27

 

0.22

 

0.74

 

0.69

Average basic shares outstanding

 

6,687,232

 

6,345,486

 

6,687,232

 

6,360,654

Average diluted shares outstanding

 

6,687,232

 

6,345,615

 

6,687,232

 

6,361,415

         

Selected Financial Ratios

        

Return on average assets

 

1.09%

 

0.99%

 

1.05%

 

1.07%

Return on average equity

 

12.27%

 

10.47%

 

11.38%

 

11.28%

Dividend payout ratio

 

59.26%

 

70.45%

 

64.86%

 

67.39%

Net interest margin (tax equivalent)

 

3.68%

 

3.64%

 

3.74%

 

3.78%



Selected Balance Sheet Items

 

September 30,

2008

 

December 31,

2007

Investment securities

$

139,638

 

 90,154

     

Loans

 

450,161

 

446,887

  Less allowance for loan losses

 

2,468

 

2,468

  Net loans

 

447,693

 

444,419

     

Total assets

 

666,564

 

604,058

Total deposits

 

596,187

 

535,929

Short-term borrowings

 

1,645

 

 1,459

Long-term debt

 

5,000

 

5,000

Total shareholders’ equity

 

58,583

 

56,528

     

Shares outstanding at period end

 

6,687,232

 

6,687,232

     

Book value per share

$

8.76

 

8.45

Equity to assets ratio

 

8.79%

 

9.36%

     

Assets Under Management

    

LCNB Corp. total assets

$

666,564

 

604,058

Trust and investments (fair value)

 

184,390

 

199,053

Mortgage loans serviced

 

38,571

 

40,260

Business cash management

 

33,189

 

34,532

Brokerage accounts (fair value)

 

58,606

 

58,929

Total assets managed

$

981,320

 

936,832