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

December 31,

 

Twelve Months Ended

December 31,

  

2008

 

2007

 

2008

 

2007

Interest income

$

8,663

 

8,288

 

34,350

 

31,991

Interest expense

 

3,216

 

3,612

 

13,421

 

13,838

  Net interest income

 

5,447

 

4,676

 

20,929

 

18,153

Provision for loan losses

 

298

 

108

 

620

 

266

  Net interest income after provision

 

5,149

 

4,568

 

20,309

 

17,887

Non-interest income

 

2,023

 

2,126

 

8,453

 

8,346

Non-interest expense

 

4,959

 

4,567

 

19,934

 

18,344

  Income before income taxes

 

2,213

 

2,127

 

8,828

 

7,889

Provision for income taxes

 

546

 

538

 

2,225

 

1,935

  Net income

$

1,667

 

1,589

 

6,603

 

5,954

         

Dividends per common share

$

0.16

 

0.155

 

0.64

 

0.62

Basic earnings per common share

$

0.25

 

0.25

 

0.99

 

0.94

Diluted earnings per common share

$

0.25

 

0.25

 

0.99

 

0.94

Average basic shares outstanding

 

6,687,232

 

6,389,582

 

6,687,232

 

6,368,046

Average diluted shares outstanding

 

6,687,232

 

6,389,582

 

6,687,232

 

6,368,563

         

Selected Financial Ratios

        

Return on average assets

 

1.00%

 

1.12%

 

1.03%

 

1.08%

Return on average equity

 

11.24%

 

11.79%

 

11.35%

 

11.41%

Dividend payout ratio

 

64.00%

 

62.00%

 

64.65%

 

65.96%

Net interest margin (tax equivalent)

 

3.70%

 

3.74%

 

3.74%

 

3.77%



Selected Balance Sheet Items

 

December 31,

2008

 

December 31,

2007

Investment securities

$

139,272

 

 90,154

     

Loans

 

453,811

 

446,887

  Less allowance for loan losses

 

2,468

 

2,468

  Net loans

 

451,343

 

444,419

     

Total assets

 

649,731

 

604,058

Total deposits

 

577,622

 

535,929

Short-term borrowings

 

2,206

 

 1,459

Long-term debt

 

5,000

 

5,000

Total shareholders’ equity

 

58,116

 

56,528

     

Shares outstanding at period end

 

6,687,232

 

6,687,232

     

Book value per share

$

8.69

 

8.45

Equity to assets ratio

 

8.94%

 

9.36%

     

Assets Under Management

    

LCNB Corp. total assets

$

649,731

 

604,058

Trust and investments (fair value)

 

174,775

 

199,053

Mortgage loans serviced

 

37,783

 

40,260

Business cash management

 

39,979

 

34,532

Brokerage accounts (fair value)

 

53,633

 

58,929

Total assets managed

$

955,901

 

936,832