LCNB Corp. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 28, 2013 at 03:40 pm
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LCNB Corp. reported earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported interest income of $7,232,000 against $7,888,000 for the same period last year. Net interest income was $6,127,000 against $6,477,000 for the same period last year. The decrease in net interest income was primarily due to decreases in the net interest margin, partially offset by increases in average interest-earning assets and decreases in average interest-bearing liabilities. Income before income taxes was $2,931,000 against $2,524,000 for the same period last year. Net income from continuing operations was $2,159,000 or $0.32 per diluted share against $1,954,000 or $0.28 per diluted share for the same period last year. Net income was $2,159,000 against $1,954,000 for the same period last year. Return on average assets was 1.06% against 0.97% for the same period last year. Return on average equity was 10.33% against 9.94% for the same period last year.
For the year, the company reported interest income of $29,938,000 against $32,093,000 for the same period last year. Net interest income was $25,049,000 against $25,706,000 for the same period last year. The decrease in net interest income was primarily due to decreases in the net interest margin, partially offset by increases in average interest-earning assets and decreases in average interest-bearing liabilities. Income before income taxes was $11,065,000 against $9,532,000 for the same period last year. Net income from continuing operations was $8,270,000 or $1.22 per diluted share against $7,322,000 or $1.08 per diluted share for the same period last year. Net income was $8,270,000 against $8,115,000 for the same period last year. Return on average assets was 1.02% against 1.02% for the same period last year. Return on average equity was 10.22% against 10.89% for the same period last year. Book value per share as at December 31, 2012 was $12.18 against $11.63 as at December 31, 2011. Tangible book value per share as at December 31, 2012 was $11.29 against $10.73 as at December 31, 2011.
LCNB Corp. is a financial holding company. The Company operates, through its wholly owned subsidiary, LCNB National Bank (the Bank), which serves customers and communities in Southwest and South-Central Ohio and Northern Kentucky. The Bank operates over 36 full-service banking offices in Ohio and one branch office in Northern Kentucky. The Bank operates in convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank also provides community-oriented banking services to customers in Northern Kentucky through a bank office in Boone County, Kentucky. It provides an array of services for all personal and business banking needs, including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. Its other services include safe deposit boxes, night depositories, and others.
LCNB CORP. 
