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


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,



2012


2011


2012


2011

Interest income

$

7,404


7,976


22,706


24,205

Interest expense


1,190


1,537


3,784


4,976

  Net interest income


6,214


6,439


18,922


19,229

Provision for loan losses


436


588


742


1,476

  Net interest income after provision


5,778


5,851


18,180


17,753

Non-interest income


2,205


2,033


6,296


5,783

Non-interest expense


5,564


5,436


16,342


16,528

  Income before income taxes


2,419


2,448


8,134


7,008

Provision for income taxes


572


581


2,023


1,640

  Net income from continuing operations


1,847


1,867


6,111


5,368

Income from discontinued operations,

  net of taxes



-



-



-



793

  Net income

$

1,847


1,867


6,111


6,161










Dividends per common share

$

0.16


0.16


0.48


0.48

Basic earnings per common share:









  Continuing operations

$

0.27


0.28


0.91


0.80

  Discontinued operations


-


-


-


0.12

Diluted earnings per common share:









  Continuing operations

$

0.27


0.28


0.90


0.80

  Discontinued operations


-


-


-


0.12










Average basic shares outstanding


6,721,699


6,690,963


6,713,959


6,690,157

Average diluted shares outstanding


6,797,675


6,750,807


6,787,000


6,746,568










Selected Financial Ratios









Return on average assets


0.90%


0.92%


1.01%


1.04%

Return on average equity


8.98%


9.71%


10.17%


11.22%

Dividend payout ratio


59.26%


57.14%


52.75%


52.17%

Net interest margin (tax equivalent)


3.44%


3.61%


3.55%


3.73%



Selected Balance Sheet Items


September 30,

2012


December 31,

2011

Investment securities

$

281,280


267,771






Loans


457,407


461,262

  Less allowance for loan losses


2,866


2,931

  Net loans


454,541


458,331






Total assets


817,192


791,570

Total deposits


701,080


663,562

Short-term borrowings


12,076


 21,596

Long-term debt


14,049


21,373

Total shareholders’ equity


82,131


77,960






Shares outstanding at period end


6,726,507


6,704,723






Book value per share

$

12.21


11.63

Tangible book value per share


11.32


10.73

Equity to assets ratio


10.05%


9.85%






Assets Under Management





LCNB Corp. total assets

$

817,192


791,570

Trust and investments (fair value)


232,956


221,950

Mortgage loans serviced


70,208


67,410

Business cash management


8,769


8,583

Brokerage accounts (fair value)


94,727


78,863

Total assets managed

$

1,223,852


1,168,376