Note 10 - Income Taxes

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE 10 – INCOME TAXES

A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows:

	Three Months Ended March 31,
	2025			2024
Statutory tax rate		21.0	%		21.0	%
Increase (decrease) resulting from:
Tax exempt interest		(0.5	)%		(1.2	)%
Tax exempt income on bank-owned life insurance		(1.3	)%		(3.0	)%
Captive insurance premium income		(1.3	)%		(3.3	)%
Affordable housing tax credit limited partnerships		(1.6	)%		(3.2	)%
Nondeductible merger-related expenses		0.0	%		3.3	%
Other, net		0.1	%		0.4	%
Effective tax rate		16.4	%		14.0	%