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 September 30,

 

Nine Months Ended

September 30,

  

2010

 

2009

 

2010

 

2009

Interest income

$

8,463

 

8,768

 

25,577

 

26,034

Interest expense

 

2,081

 

2,455

 

6,348

 

7,709

  Net interest income

 

6,382

 

6,313

 

19,229

 

18,325

Provision for loan losses

 

268

 

664

 

987

 

970

  Net interest income after provision

 

6,114

 

5,649

 

18,242

 

17,355

Non-interest income

 

2,317

 

2,176

 

7,449

 

6,517

Non-interest expense

 

5,862

 

5,194

 

16,922

 

16,878

  Income before income taxes

 

2,569

 

2,631

 

8,769

 

6,994

Provision for income taxes

 

580

 

588

 

1,816

 

  1,548

  Net income

 

1,989

 

2,043

 

6,953

 

5,446

Preferred stock dividends and

discount accretion

 


-

 


206

 


-

 


514

  Net income available to common

  shareholders

$


1,989

 


1,837

 


6,953

 


4,932

         

Dividends per common share

$

0.16

 

0.16

 

0.48

 

0.48

Basic earnings per common share

$

0.30

 

0.27

 

1.04

 

0.74

Diluted earnings per common share

$

0.30

 

0.27

 

1.03

 

0.74

Average basic shares outstanding

 

6,687,232

 

6,687,232

 

6,687,232

 

6,687,232

Average diluted shares outstanding

 

6,740,884

 

6,707,746

 

6,737,965

 

6,693,032

         

Selected Financial Ratios

        

Return on average assets

 

1.02%

 

1.09%

 

1.22%

 

1.02%

Return on average equity

 

11.01%

 

10.46%

 

13.45%

 

9.54%

Dividend payout ratio

 

53.33%

 

59.26%

 

46.15%

 

64.86%

Net interest margin (tax equivalent)

 

3.78%

 

3.93%

 

3.93%

 

3.94%



Selected Balance Sheet Items

 

September 30,

2010

 

December 31,

2009

Investment securities

$

238,342

 

 217,639

     

Loans

 

458,394

 

460,416

  Less allowance for loan losses

 

2,290

 

2,998

  Net loans

 

456,104

 

457,418

     

Total assets

 

781,946

 

734,409

Total deposits

 

672,395

 

624,179

Short-term borrowings

 

6,797

 

 14,265

Long-term debt

 

23,467

 

24,960

Total shareholders’ equity

 

72,290

 

65,615

     

Shares outstanding at period end

 

6,687,232

 

6,687,232

     

Book value per share

$

10.81

 

9.81

Equity to assets ratio

 

9.24%

 

8.93%

     

Assets Under Management

    

LCNB Corp. total assets

$

781,946

 

734,409

Trust and investments (fair value)

 

221,378

 

197,125

Mortgage loans serviced

 

63,106

 

57,369

Business cash management

 

11,098

 

17,902

Brokerage accounts (fair value)

 

80,353

 

72,202

Total assets managed

$

1,157,881

 

1,079,007