EX-99 3 ex992.htm EXHIBIT 99.2 Converted by EDGARwiz

Exhibit 99.2


LCNB Corp. and Subsidiaries

Financial Highlights

(Dollars in thousands, except per share amounts)



Condensed Income Statement

 

Three Months Ended June 30,

 

Six Months Ended

June 30,

  

2010

 

2009

 

2010

 

2009

Interest income

$

8,521

 

8,659

 

17,114

 

17,266

Interest expense

 

2,105

 

2,526

 

4,267

 

5,254

  Net interest income

 

6,416

 

6,133

 

12,847

 

12,012

Provision for loan losses

 

511

 

208

 

719

 

306

  Net interest income after provision

 

5,905

 

5,925

 

12,128

 

11,706

Non-interest income

 

2,949

 

2,211

 

5,132

 

4,341

Non-interest expense

 

5,540

 

5,767

 

11,060

 

11,684

  Income before income taxes

 

3,314

 

2,369

 

6,200

 

4,363

Provision for income taxes

 

562

 

529

 

1,236

 

  960

  Net income

 

2,752

 

1,840

 

4,964

 

3,403

Preferred stock dividends and discount accretion

 


-

 


206

 


-

 


308

  Net income available to common

  shareholders

$


2,752

 


1,634

 


4,964

 


3,095

         

Dividends per common share

$

0.16

 

0.16

 

0.32

 

0.32

Basic earnings per common share

$

0.41

 

0.24

 

0.74

 

0.46

Diluted earnings per common share

$

0.41

 

0.24

 

0.74

 

0.46

Average basic shares outstanding

 

6,687,232

 

6,687,232

 

6,687,232

 

6,687,232

Average diluted shares outstanding

 

6,742,663

 

6,693,084

 

6,736,435

 

6,687,232

         

Selected Financial Ratios

        

Return on average assets

 

1.46%

 

1.03%

 

1.33%

 

0.98%

Return on average equity

 

16.12%

 

9.64%

 

14.76%

 

9.07%

Dividend payout ratio

 

39.02%

 

66.67%

 

43.24%

 

69.57%

Net interest margin (tax equivalent)

 

4.06%

 

3.97%

 

4.08%

 

3.95%



Selected Balance Sheet Items

 

June 30,

2010

 

December 31,

2009

Investment securities

$

219,064

 

 217,639

     

Loans

 

459,722

 

460,416

  Less allowance for loan losses

 

3,150

 

2,998

  Net loans

 

456,572

 

457,418

     

Total assets

 

774,979

 

734,409

Total deposits

 

671,982

 

624,179

Short-term borrowings

 

3,469

 

 14,265

Long-term debt

 

23,811

 

24,960

Total shareholders’ equity

 

69,995

 

65,615

     

Shares outstanding at period end

 

6,687,232

 

6,687,232

     

Book value per share

$

10.47

 

9.81

Equity to assets ratio

 

9.03%

 

8.93%

     

Assets Under Management

    

LCNB Corp. total assets

$

774,979

 

734,409

Trust and investments (fair value)

 

212,024

 

197,125

Mortgage loans serviced

 

56,639

 

57,369

Business cash management

 

12,634

 

17,902

Brokerage accounts (fair value)

 

73,538

 

72,202

Total assets managed

$

1,129,814

 

1,079,007