Attached files
file | filename |
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EX-99 - EXHIBIT 99.1 - PRESS RELEASE - LCNB CORP | lcnbexh991071812.htm |
8-K - LCNB CORP | lcnb8k071812.htm |
EXHIBIT 99.2
LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)
Condensed Income Statement | Three Months Ended June 30, | Six Months Ended June 30, | ||||||
2012 | 2011 | 2012 | 2011 | |||||
Interest income | $ | 7,571 | 8,099 | 15,302 | 16,229 | |||
Interest expense | 1,272 | 1,667 | 2,594 | 3,439 | ||||
Net interest income | 6,299 | 6,432 | 12,708 | 12,790 | ||||
Provision for loan losses | 91 | 224 | 306 | 888 | ||||
Net interest income after provision | 6,208 | 6,208 | 12,402 | 11,902 | ||||
Non-interest income | 1,755 | 1,835 | 4,091 | 3,750 | ||||
Non-interest expense | 5,330 | 5,307 | 10,778 | 11,092 | ||||
Income before income taxes | 2,633 | 2,736 | 5,715 | 4,560 | ||||
Provision for income taxes | 646 | 713 | 1,451 | 1,059 | ||||
Net income from continuing operations | 1,987 | 2,023 | 4,264 | 3,501 | ||||
Income from discontinued operations, net of taxes | - | (31) | - | 793 | ||||
Net income | $ | 1,987 | 1,992 | 4,264 | 4,294 | |||
Dividends per common share | $ | 0.16 | 0.16 | 0.32 | 0.32 | |||
Basic earnings per common share: | ||||||||
Continuing operations | $ | 0.30 | 0.30 | 0.64 | 0.52 | |||
Discontinued operations | - | - | - | 0.12 | ||||
Diluted earnings per common share: | ||||||||
Continuing operations | $ | 0.29 | 0.30 | 0.63 | 0.52 | |||
Discontinued operations | - | - | - | 0.12 | ||||
Average basic shares outstanding | 6,713,847 | 6,689,743 | 6,710,062 | 6,689,743 | ||||
Average diluted shares outstanding | 6,789,776 | 6,746,791 | 6,781,614 | 6,744,375 | ||||
Selected Financial Ratios | ||||||||
Return on average assets | 0.98% | 1.00% | 1.07% | 1.11% | ||||
Return on average equity | 9.96% | 10.97% | 10.77% | 12.04% | ||||
Dividend payout ratio | 53.33% | 53.33% | 50.00% | 50.00% | ||||
Net interest margin (tax equivalent) | 3.52% | 3.70% | 3.61% | 3.79% |
Selected Balance Sheet Items | June 30, 2012 | December 31, 2011 | ||
Investment securities | $ | 299,655 | 267,771 | |
Loans | 461,581 | 461,262 | ||
Less allowance for loan losses | 2,952 | 2,931 | ||
Net loans | 458,629 | 458,331 | ||
Total assets | 831,575 | 791,570 | ||
Total deposits | 710,656 | 663,562 | ||
Short-term borrowings | 13,142 | 21,596 | ||
Long-term debt | 20,391 | 21,373 | ||
Total shareholders’ equity | 80,465 | 77,960 | ||
Shares outstanding at period end | 6,720,642 | 6,704,723 | ||
Book value per share | $ | 11.97 | 11.63 | |
Tangible book value per share | 11.08 | 10.73 | ||
Equity to assets ratio | 9.68% | 9.85% | ||
Assets Under Management | ||||
LCNB Corp. total assets | $ | 831,575 | 791,570 | |
Trust and investments (fair value) | 207,481 | 221,950 | ||
Mortgage loans serviced | 68,938 | 67,410 | ||
Business cash management | 8,704 | 8,583 | ||
Brokerage accounts (fair value) | 88,291 | 78,863 | ||
Total assets managed | $ | 1,204,989 | 1,168,376 |