FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Valuation of LCNB's Assets Recorded at Fair Value by Inputs Level

The following table summarizes the valuation of LCNB’s assets recorded at fair value by input levels as of December 31 (in thousands):

			Fair Value Measurements at the End of the Reporting Period Using
	Fair Value Measurements		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2022
Recurring fair value measurements:
Equity securities with a readily determinable fair value:
Equity securities	$	1,039	1,039	—	—
Mutual funds	41		41	—	—
Mutual funds measured at net asset value	1,193		1,193	—	—
Debt securities available-for-sale:
U.S. Treasury notes	76,447		76,447	—	—
U.S. Agency notes	77,976		—	77,976	—
Corporate bonds	6,685		—	6,685	—
U.S. Agency mortgage-backed securities	79,440		—	79,440	—
Municipal securities:
Non-taxable	8,524		—	8,524	—
Taxable	40,778		—	40,778	—
Total recurring fair value measurements	$	292,123	78,720	213,403	—
Nonrecurring fair value measurements:
Impaired loans	$	923	—	—	923
Total nonrecurring fair value measurements	$	923	—	—	923
2021
Recurring fair value measurement:
Equity securities with a readily determinable fair value:
Equity securities	$	1,167	1,167	—	—
Mutual funds	51		51	—	—
Mutual funds measured at net asset value	1,328		1,328	—	—
Debt securities available-for-sale:
U.S. Treasury notes	74,744		74,744	—	—
U.S. Agency notes	87,246		—	87,246	—
Corporate bonds	5,152		—	5,152	—
U.S. Agency mortgage-backed securities	96,676		—	96,676	—
Municipal securities:
Non-taxable	9,066		—	9,066	—
Taxable	35,293		—	35,293	—
Total recurring fair value measurements	$	310,723	77,290	233,433	—
Nonrecurring fair value measurements:
Impaired loans	$	1,011	—	—	1,011
Total nonrecurring fair value measurements	$	1,011	—	—	1,011

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at December 31, 2022 and 2021 (dollars in thousands):

					Range
	Fair Value		Valuation Technique	Unobservable Inputs	High		Low		Weighted Average
2022
Impaired loans	$	—	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	923		Discounted cash flows	Discount rate	8.13	%	4.63	%	6.04	%
2021
Impaired loans	$	—	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	1,011		Discounted cash flows	Discount rate	8.25	%	4.00	%	6.07	%

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values of financial instruments as of December 31 were as follows (in thousands):

				Fair Value Measurements at the End of the Reporting Period Using
	Carrying Amount		Fair Value	Quoted Prices in Active  Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2022
FINANCIAL ASSETS:
Cash and cash equivalents	$	22,701	22,701	22,701	—	—
Debt securities, held-to-maturity	19,878		18,885	—	—	18,885
Loans, net	1,395,632		1,219,112	—	—	1,219,112
Accrued interest receivable	7,482		7,482	—	7,482	—
FINANCIAL LIABILITIES:
Deposits	1,604,970		1,604,380	1,448,470	155,910	—
Long-term debt	19,072		18,573	—	18,573	—
Accrued interest payable	311		311	—	311	—
2021
FINANCIAL ASSETS:
Cash and cash equivalents	$	18,136	18,136	18,136	—	—
Debt securities, held-to-maturity	22,972		23,087	—	—	23,087
Loans, net	1,363,939		1,333,840	—	—	1,333,840
Accrued interest receivable	7,999		7,999	—	7,999	—
FINANCIAL LIABILITIES:
Deposits	1,628,819		1,630,158	1,435,487	194,671	—
Long-term debt	10,000		10,292	—	10,292	—
Accrued interest payable	277		277	—	277	—