DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

LCNB sold its insurance agency subsidiary on March 23, 2011 and therefore its financial results are reported in the income statements as income from discontinued operations, net of taxes.  Income from discontinued operations for 2011 include the gain recognized from the sale less certain related closing costs, taxes, and a curtailment expense recognized in LCNB’s nonqualified defined benefit retirement plan due to the sale.  The following table summarizes income from discontinued operations for the years indicated (in thousands):

	2011
Revenue	$	381
Non-interest expenses	301
Income from operations before income taxes	80
Gain from sale of insurance agency	1,503
Closing costs related to sale	(60		)
Curtailment expense on nonqualified defined benefit retirement plan	(191		)
Provision for income taxes	(539		)
Net income	$	793