LCNB News & Events

Commenting on the financial results, LCNB CEO, Eric Meilstrup said, "2025 was a transformative year for LCNB, reflecting the earnings power of our enhanced platform following the acquisitions of Eagle Financial Bancorp and Cincinnati Bancorp. During the year, we executed strategies aimed at proactively strengthening our balance sheet, expanding net interest margin, maintaining tight control over operating expenses, continuing the growth of LCNB Wealth Management, and further investing in our leadership team. I am pleased to report that these efforts contributed to record annual net income of $23.1 million in 2025, resulting in a 1.02% return on average assets for the full year and a 13.6% increase in tangible book value to $12.45 per share at December 31, 2025."

Net interest income for the three months ended September 30, 2025 was $18.1 million, compared to $15.0 million for the same period in 2024. Net interest income for the nine-month period ended September 30, 2025 was $52.0 million, as compared to $44.1 million in the same period last year. The growth in net interest income was primarily due to the reduction in average interest rates paid on interest-bearing liabilities and higher average rates earned on loans. For the 2025 third quarter, LCNB's tax equivalent net interest margin was 3.57%, compared to 2.84% for the same period last year. Net interest margin for the nine-month period ended September 30, 2025 was 3.43%, as compared to 2.81% in the same period last year. For the 2025 third quarter, LCNB recorded a provision for credit losses of $211,000, compared to a provision for credit losses of $660,000 for the 2024 third quarter. For the nine months ended September 30, 2025, LCNB recorded a total provision for credit losses of $426,000, compared to a total provision for credit losses of $1.3 million for the nine months ended September 30, 2024. Net charge-offs for the 2025 third quarter were $169,000, or 0.04% of average loans, compared to net charge-offs of $84,000, or 0.02% of average loans, annualized, for the same period last year. For the 2025 nine-month period, net charge-offs were $287,000, or 0.02% of average loans, compared to net charge-offs of $147,000, or 0.01% of average loans, for the 2024 nine-month period.

LCNB Corp. announced several leadership promotions as part of its comprehensive succession plan, reinforcing the Company's management depth and supporting its long-term strategic growth. These changes follow the decision to separate the roles of CEO and President, further enhancing governance, accountability, and long-term strategic focus. Robert Haines II Promoted to President: In his new role, Mr. Haines will be responsible for leading key activities within the Company's operations. Mr. Haines was LCNB's CFO from January 2008 to October 2025. Andrew Wallace has been promoted to CFO, where he will lead all aspects of financial strategy, reporting, and capital management. Mr. Wallace joined LCNB in June 2022 as SVP of Accounting and Finance. Patricia Walter has been promoted to Chief Risk Officer, assuming responsibility for enterprise risk management, compliance, and governance oversight. Ms. Walter joined LCNB in 2024 through the acquisition of EAGLE.bank, where she most recently served as President. Susan Kelley has been appointed SVP and Chief Accounting Officer, where she will continue to build on the Company's strong accounting, controls, and reporting foundation. Ms. Kelley joined LCNB in August 2024 as VP of Finance and Accounting.

Commenting on the financial results, LCNB President and Chief Executive Officer, Eric Meilstrup said, "Our first-quarter performance reflects the continued success of our strategic initiatives focused on integrating recent acquisitions, strengthening our balance sheet, and delivering valuable financial products and services to our communities. I am also pleased to report that the April 2024 Eagle Financial Bancorp, Inc. acquisition has already experienced a positive tangible book value earn back, which is a year earlier than expected. The November 2023 Cincinnati Federal acquisition remains on schedule for a positive tangible book value earn back by early 2026. We continue to pursue growth strategies across our expanded Southwestern Ohio footprint, including leveraging our LCNB Wealth Management capabilities."