UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Ohio 31-1626393 2 North Broadway, Lebanon, Ohio 45036 (Address of principal executive offices, including Zip Code) (513) 932-1414 (Registrant's telephone numbe ...

Financial Performance - Net income for the three months ended March 31, 2021, was $5,240 thousand, compared to $5,026 thousand for the same period in 2020, reflecting an increase of 4.25%[15] - Net income for the three months ended March 31, 2021, was $5,240 million, an increase from $5,026 million in the same period of 2020, representing a growth of 4.3%[23] - The company declared dividends of $0.19 per common share for Q1 2021, up from $0.18 per share in Q1 2020[15] - Basic earnings per common share for Q1 2021 was $0.41, consistent with the $0.39 reported in Q1 2020[124] - The company reported net income of $5,240,000 for the three months ended March 31, 2021, compared to $5,026,000 for the same period in 2020, representing a year-over-year increase of 4.3%[124] Asset and Deposit Growth - Total assets increased to $1,818,321 thousand as of March 31, 2021, up from $1,745,884 thousand at December 31, 2020, representing a growth of 4.16%[12] - Total deposits increased to $1,537,116 thousand as of March 31, 2021, up from $1,455,423 thousand at December 31, 2020, a growth of 5.6%[12] - The net increase in deposits for the three months ended March 31, 2021, was $81,693 million, compared to a decrease of $2,408 million in the same period of 2020[23] - Total deposits rose by $81,693 thousand, or 5.61%, with non-interest-bearing deposits increasing by 4.41% and interest-bearing deposits by 6.16%[195] Loan Portfolio and Quality - As of March 31, 2021, total loans amounted to $1,336,632,000, an increase of 2.5% from $1,300,556,000 at December 31, 2020[47] - LCNB's total loan portfolio as of March 31, 2021, was $1,335,101,000, an increase from $1,299,421,000 as of December 31, 2020, representing a growth of approximately 2.75%[64] - The residential real estate loan category had a recorded investment of $328,776,000 as of March 31, 2021, compared to $310,085,000 at the end of 2020, indicating an increase of about 6%[64] - The percentage of loans categorized as "Pass" in the residential real estate segment was 98.2% as of March 31, 2021, up from 98.0% at the end of 2020[64] - The total number of troubled debt restructurings (TDRs) during the three months ended March 31, 2021, was 1, with a recorded balance of $21,000[70] Income and Expense Analysis - Non-interest income decreased to $3,465 thousand in Q1 2021 from $3,839 thousand in Q1 2020, a decline of 9.7%[15] - Total non-interest expense increased to $11,492 thousand in Q1 2021, compared to $11,072 thousand in Q1 2020, an increase of 3.8%[15] - Total interest income for Q1 2021 decreased by $1,037,000 compared to Q1 2020, primarily due to a $692,000 decrease in loan interest income and a $309,000 decrease in interest income from taxable and non-taxable debt securities[180] - Non-interest income for Q1 2021 totaled $3,465,000, a decrease of $374,000 from Q1 2020, with fiduciary income increasing by $426,000[187] - Total non-interest expense for Q1 2021 was $11,492,000, an increase of $420,000 compared to Q1 2020, driven by higher equipment and occupancy expenses[190] Capital and Equity - Total shareholders' equity decreased to $239,246 thousand as of March 31, 2021, down from $240,825 thousand at December 31, 2020, a decline of 0.66%[12] - Tier 1 risk-based capital increased to $172,386 thousand from $168,351 thousand, maintaining a Common Equity Tier 1 Capital ratio of 12.48%[206] - The company reported a total comprehensive income of $1,800 thousand for Q1 2021, compared to $7,509 thousand for Q1 2020, a decrease of 76.0%[17] Tax and Regulatory Matters - The effective tax rate for the three months ended March 31, 2021, was 18.1%, up from 12.9% in the same period of 2020[95] - Tax credits and other tax benefits recognized for the three months ended March 31, 2021, were $260,000, an increase from $159,000 in the same period of 2020[91] Risk Management and Economic Conditions - LCNB's financial condition and operations are subject to risks from the COVID-19 pandemic, which may affect liquidity and capital positions[158] - The company anticipates potential difficulties in growing loan and deposit balances due to economic conditions and increased competition[158] - The allowance for loan losses is expected to increase due to the implementation of ASU No. 2016-13, although the exact financial impact cannot be estimated at this time[154] Cash Flow and Liquidity - Net cash flows provided by operating activities increased significantly to $4,039 million from $1,305 million year-over-year, marking a rise of 209.5%[23] - The company believes that it has sufficient liquidity to fund its lending and capital expenditure commitments[104] - The total remaining borrowing capacity at March 31, 2021, was approximately $172.6 million[92] Investment and Securities - The amortized cost of debt securities available-for-sale was $236,470 million with a fair value of $237,619 million as of March 31, 2021[35] - The fair value of available-for-sale debt securities is estimated using market quotations and discounted cash flow methods[170] - The total fair value of debt securities available-for-sale was $240,125,000 as of March 31, 2021, compared to $211,860,000 on December 31, 2020[134]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ______________________ Commission File Number 000-26121 LCNB Corp. (Exact name of registrant as specified in its charter) (State or othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35292 LCNB Corp. (Exact name of registrant as specified in its charter) Ohio 31-1626393 (State or other jurisdiction of incorpo ...

Financial Performance - Net income for the three months ended June 30, 2020, was $5,057 thousand, compared to $4,728 thousand for the same period in 2019, reflecting an increase of 6.9%[13] - Net income for the six months ended June 30, 2020, was $10,083,000, a 7.8% increase from $9,355,000 in the same period of 2019[21] - Earnings per common share for the three months ended June 30, 2020, were $0.39, up from $0.36 in the same period of 2019, representing an increase of 8.3%[13] - Total comprehensive income for the three months ended June 30, 2020, was $5,769 thousand, down from $6,905 thousand in the same period of 2019, reflecting a decrease of 16.4%[15] - Net income for Q2 2020 was $5,057,000, an increase of 6.9% from $4,728,000 in Q2 2019, with earnings per share rising from $0.36 to $0.39[179] Asset Growth - Total assets increased to $1,735,332 thousand as of June 30, 2020, up from $1,639,308 thousand at December 31, 2019, representing a growth of approximately 5.9%[9] - Total assets as of June 30, 2020, were $1,704,303,000, up from $1,637,645,000 a year earlier[182] - Total shareholders' equity increased to $237,047 thousand as of June 30, 2020, compared to $228,048 thousand at December 31, 2019, reflecting a growth of 3.9%[9] Deposits and Cash Flow - Total deposits rose to $1,438,921 thousand as of June 30, 2020, up from $1,348,280 thousand at December 31, 2019, marking an increase of 6.7%[9] - Cash and cash equivalents at the end of the period on June 30, 2020, were $42,736,000, compared to $23,185,000 at the end of June 30, 2019, indicating an increase of 84.5%[21] - Total cash flows provided by operating activities for the six months ended June 30, 2020, were $4,931,000, compared to $8,250,000 in 2019, reflecting a decrease of 40.5%[21] Loan Portfolio and Quality - The total gross loans as of June 30, 2020, amounted to $1,337,340,000, an increase from $1,243,726,000 as of December 31, 2019, representing a growth of approximately 7.5%[46] - The allowance for loan losses at the end of June 2020 was $5,016,000, compared to $4,045,000 at the end of December 2019, indicating an increase of 24%[49] - The total number of loans categorized as "Substandard" increased to $21,912,000 in June 2020 from $17,256,000 in December 2019, reflecting a rise of 27.5%[63] - The company reported a provision for loan losses of $1,189,000 for the six months ended June 30, 2020, compared to a credit of $(51,000) in 2019[21] Interest Income and Expense - Net interest income for the six months ended June 30, 2020, was $28,176 thousand, compared to $26,981 thousand for the same period in 2019, indicating a growth of 4.4%[13] - Total interest income decreased by $414,000 in Q2 2020, primarily due to a $472,000 decrease in interest income from taxable and non-taxable debt securities[188] - Total interest expense decreased by $779,000 in Q2 2020, driven by a $294,000 decrease in savings deposits and a $438,000 decrease in IRA and time certificates[189] Non-Interest Income and Expense - Non-interest income for the three months ended June 30, 2020, totaled $3,319 thousand, an increase from $2,998 thousand in the same period of 2019, representing a rise of 10.7%[13] - Non-interest income for the six months ended June 30, 2020, increased by $1,388,000 to $7,158,000, driven by growth in fiduciary income and bank-owned life insurance income[203] - Total non-interest expense for the six months ended June 30, 2020, was $22,188,000, an increase of $655,000 compared to the same period in 2019[207] COVID-19 Impact and Response - LCNB provided payment deferrals to 582 loan customers totaling approximately $384 million affected by COVID-19[174] - The company assisted 316 small businesses with $45.5 million in loans through the CARES Act Paycheck Protection Program[174] - LCNB's financial condition and results are subject to risks from the COVID-19 pandemic, including potential increased loan charge-offs[168] Tax and Regulatory Matters - The effective tax rate for the three months ended June 30, 2020, was 18.2%, compared to 17.1% for the same period in 2019, indicating an increase of approximately 6.4%[97] - The company recognized tax credits and other tax benefits of $538,000 for the six months ended June 30, 2020, compared to $168,000 for the same period in 2019, marking a significant increase of approximately 219%[90] Equity and Stock Options - The company declared dividends of $0.18 per common share for the three months ended June 30, 2020, compared to $0.17 for the same period in 2019[13] - The intrinsic value of options exercised in the six months ended June 30, 2020, was $46,000, with cash received from options exercised totaling $115,000[121] - The company had 311,000 outstanding stock options with a weighted average exercise price of $12.60 as of June 30, 2020[118]

PART I [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Presents LCNB Corp.'s unaudited consolidated condensed financial statements for Q1 2020, including balance sheets, income, and cash flows [Consolidated Condensed Balance Sheets](index=4&type=section&id=CONSOLIDATED%20CONDENSED%20BALANCE%20SHEETS) Presents the company's financial position, detailing assets, liabilities, and shareholders' equity as of March 31, 2020, and December 31, 2019 Consolidated Condensed Balance Sheet (Unaudited) | (Dollars in thousands) | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **ASSETS** | | | | Total cash and cash equivalents | $24,795 | $20,765 | | Total Investment securities | $183,118 | $214,789 | | Loans, net | $1,267,379 | $1,239,406 | | Goodwill | $59,221 | $59,221 | | **TOTAL ASSETS** | **$1,636,280** | **$1,639,308** | | **LIABILITIES** | | | | Total deposits | $1,345,872 | $1,348,280 | | Long-term debt | $35,996 | $40,994 | | **TOTAL LIABILITIES** | **$1,402,802** | **$1,411,260** | | **TOTAL SHAREHOLDERS' EQUITY** | **$233,478** | **$228,048** | | **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **$1,636,280** | **$1,639,308** | [Consolidated Condensed Statements of Income](index=6&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20INCOME) Details the company's revenues, expenses, and net income for the three months ended March 31, 2020, and 2019 Consolidated Condensed Statements of Income (Unaudited) | (Dollars in thousands, except per share data) | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | **NET INTEREST INCOME** | **$14,178** | **$13,391** | | PROVISION (CREDIT) FOR LOAN LOSSES | $1,173 | ($105) | | NET INTEREST INCOME AFTER PROVISION | $13,005 | $13,496 | | TOTAL NON-INTEREST INCOME | $3,839 | $2,772 | | TOTAL NON-INTEREST EXPENSE | $11,072 | $10,700 | | INCOME BEFORE INCOME TAXES | $5,772 | $5,568 | | **NET INCOME** | **$5,026** | **$4,627** | | **Diluted Earnings per common share** | **$0.39** | **$0.35** | [Consolidated Condensed Statements of Comprehensive Income](index=8&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME) Presents net income and other comprehensive income components, leading to total comprehensive income for the periods Consolidated Condensed Statements of Comprehensive Income (Unaudited) | (In thousands) | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net income | $5,026 | $4,627 | | Other comprehensive income, net of tax | $2,483 | $2,489 | | **TOTAL COMPREHENSIVE INCOME** | **$7,509** | **$7,116** | [Consolidated Condensed Statements of Shareholders' Equity](index=9&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20SHAREHOLDERS%27%20EQUITY) Outlines changes in shareholders' equity, including net income, comprehensive income, and dividends - Total shareholders' equity increased from **$228.0 million** at December 31, 2019, to **$233.5 million** at March 31, 2020, driven by **$5.0 million** net income and **$2.5 million** other comprehensive income, partially offset by **$2.3 million** common stock dividends[23](index=23&type=chunk) [Consolidated Condensed Statements of Cash Flows](index=10&type=section&id=CONSOLIDATED%20CONDENSED%20STATEMENTS%20OF%20CASH%20FLOWS) Summarizes cash inflows and outflows from operating, investing, and financing activities for the periods Consolidated Condensed Statements of Cash Flows (Unaudited) | (In thousands) | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES | $1,305 | $2,323 | | NET CASH FLOWS PROVIDED BY INVESTING ACTIVITIES | $12,245 | $12,664 | | NET CASH FLOWS USED IN FINANCING ACTIVITIES | ($9,520) | ($15,500) | | **NET CHANGE IN CASH AND CASH EQUIVALENTS** | **$4,030** | **($513)** | [Notes to Consolidated Condensed Financial Statements](index=12&type=section&id=NOTES%20TO%20CONSOLIDATED%20CONDENSED%20FINANCIAL%20STATEMENTS) Provides detailed disclosures on accounting policies, financial statement account composition, and upcoming accounting changes like CECL [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=50&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2020 financial results, COVID-19 impact, balance sheet, capital, and liquidity - **Net income** for Q1 2020 was **$5.0 million** ($0.39 per diluted share), an increase from **$4.6 million** ($0.35 per diluted share) in Q1 2019[177](index=177&type=chunk) - The **provision for loan losses** significantly increased to **$1.17 million** in Q1 2020 from a **$0.11 million credit** in Q1 2019, largely due to the COVID-19 pandemic's economic impact[191](index=191&type=chunk) [Coronavirus Update/Status](index=51&type=section&id=Coronavirus%20Update%2FStatus) LCNB implemented measures in response to COVID-19, including branch adjustments, virtual meetings, payment deferrals, and PPP participation - Provided payment deferrals to over **500 loan customers** with loans totaling approximately **$369 million**[172](index=172&type=chunk) - Participated in the CARES Act Paycheck Protection Program (PPP), funding over **$46 million in loans** for over **300 small businesses** through April 30, 2020[172](index=172&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Q1 2020 operating results show increased net income, driven by higher net interest and non-interest income, partially offset by increased loan loss provision and non-interest expenses Net Interest Income Analysis (Q1 2020 vs Q1 2019) | (In thousands) | Increase (Decrease) due to Volume | Increase (Decrease) due to Rate | Total Change | | :--- | :--- | :--- | :--- | | Total interest income | $60 | $314 | $374 | | Total interest expense | ($144) | ($200) | ($344) | | **Net interest income** | **$204** | **$514** | **$718** | - **Net interest income** on a taxable-equivalent basis increased by **$0.718 million**, driven by a **$43.7 million increase** in average loan portfolio balance and decreased interest expense on deposits and borrowings[186](index=186&type=chunk)[187](index=187&type=chunk)[188](index=188&type=chunk) - **Non-interest income** increased by **$1.1 million**, primarily from a **$0.419 million increase** in bank-owned life insurance income and **$0.262 million** from equity security sales gains[193](index=193&type=chunk) - **Non-interest expense** rose by **$0.372 million**, mainly due to a **9.8% increase** in salaries and employee benefits from wage increases and new hires[196](index=196&type=chunk)[198](index=198&type=chunk) [Financial Condition](index=61&type=section&id=Financial%20Condition) Total assets slightly decreased to $1.636 billion, driven by changes in debt securities, loans, and long-term debt, while shareholders' equity increased - **Net loans** increased by **$28.0 million (2.26%)** to **$1.27 billion**, driven by organic growth in commercial and industrial and real estate portfolios[201](index=201&type=chunk) - **Available-for-sale debt securities** decreased by **$36.6 million (20.54%)**, with proceeds reinvested into the loan portfolio and used for debt repayment[201](index=201&type=chunk) - **Total shareholders' equity** increased by **$5.4 million (2.38%)** to **$233.5 million**, reflecting retained earnings and a **$2.5 million increase** in accumulated other comprehensive income[201](index=201&type=chunk)[205](index=205&type=chunk) - Management assessed goodwill for impairment due to COVID-19 uncertainty, concluding fair value exceeded carrying value as of March 31, 2020[205](index=205&type=chunk) [Regulatory Capital](index=63&type=section&id=Regulatory%20Capital) LCNB and its bank subsidiary maintained "well-capitalized" status, with all capital ratios exceeding minimum regulatory requirements Bank's Regulatory Capital Ratios | Capital Ratios | March 31, 2020 | December 31, 2019 | Well-Capitalized Minimum | | :--- | :--- | :--- | :--- | | Common Equity Tier 1 Capital | 12.44% | 12.21% | 6.5% | | Tier 1 Capital | 12.44% | 12.21% | 8.0% | | Total Capital | 12.82% | 12.52% | 10.0% | | Leverage | 10.43% | 10.06% | 5.0% | [Liquidity](index=64&type=section&id=Liquidity) The company maintains sufficient liquidity through diverse funding sources, including deposits, FHLB borrowings, and credit lines - Primary funding sources include **customer deposits**, **FHLB borrowings**, and cash flows from loan and investment portfolios[213](index=213&type=chunk) - At March 31, 2020, available liquidity included approximately **$93.4 million** from the FHLB and **$55.0 million** from correspondent bank lines of credit[214](index=214&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=67&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) LCNB manages interest rate risk through ALCO, using IRSA and EVE analysis to model impacts of rate changes within acceptable ranges - The company does not use derivatives like interest rate swaps, caps, or floors to hedge interest rate risk[221](index=221&type=chunk) Interest Rate Sensitivity Analysis (as of March 31, 2020) | Rate Shock Scenario (Basis Points) | % Change in Net Interest Income (NII) | % Change in Economic Value of Equity (EVE) | | :--- | :--- | :--- | | Up 200 | +1.86% | -9.45% | | Up 100 | +0.85% | -5.69% | | **Base** | **—** | **—** | | Down 100 | +0.21% | +13.30% | [Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls and procedures were effective as of March 31, 2020, with no material changes in internal control - The CEO and CFO concluded that LCNB's disclosure controls and procedures were effective as of March 31, 2020[226](index=226&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter[227](index=227&type=chunk) PART II. OTHER INFORMATION Details the company's legal proceedings, risk factors, and information on unregistered sales of equity securities and use of proceeds [Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings) The company is not a party to any material pending legal proceedings beyond routine business litigation - LCNB is not a party to any material pending legal proceedings outside of routine business litigation[230](index=230&type=chunk) [Risk Factors](index=69&type=section&id=Item%201A.%20Risk%20Factors) Discloses new risks from the COVID-19 pandemic, impacting credit, demand, interest rates, and market volatility - The **COVID-19 pandemic** has adversely impacted business and financial results, with the ultimate impact highly uncertain[231](index=231&type=chunk) - Many commercial and residential borrowers face operational curtailment or unemployment, leading to expected increases in loan modifications and potential losses[233](index=233&type=chunk) - The Federal Reserve's March 2020 rate cuts are expected to impact loan interest income, as many commercial and home equity loans are prime rate indexed[234](index=234&type=chunk) - **Market volatility** affects fee income from trust and brokerage accounts and the fair value of equity and debt securities investments[235](index=235&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) LCNB did not sell unregistered securities or repurchase shares during the quarter, with 100,000 shares remaining under the repurchase program - No shares were repurchased under the company's authorized program during the three months ended March 31, 2020[241](index=241&type=chunk) - A maximum of **100,000 shares** remain available for repurchase under the current program, authorized for up to five years from April 2019[238](index=238&type=chunk)[241](index=241&type=chunk)

Loan Portfolio - As of December 31, 2019, total loans amounted to $1,243,451,000, an increase from $1,198,623,000 in 2018, representing a growth of 3.7%[100] - The loan portfolio distribution shows that commercial, secured by real estate loans accounted for 64.7% of total loans, increasing from 61.8% in 2018[100] - Loans secured by multifamily properties totaled $156,277,000, representing 12.6% of total loans as of December 31, 2019, up from 10.8% in 2018[101] - Loans secured by real estate accounted for 64.7% of total loans, with commercial real estate loans totaling $804,953,000, up from $740,647,000 in 2018[100] - The net loans after allowance for loan losses stood at $1,239,406,000 as of December 31, 2019, compared to $1,194,577,000 in 2018[100] - The total amount of commercial and agricultural loans maturing beyond five years was $721,918,000 as of December 31, 2019[104] - The maturity of commercial and agricultural loans totaled $894,768,000, with $721,918,000 maturing beyond five years[104] - The company had no concentrations of loans exceeding 10% of total loans, except for those secured by multifamily properties[101] Loan Performance - Non-accrual loans were reported at $3,210,000 as of December 31, 2019, compared to $2,951,000 in 2018, indicating a rise of 8.7%[105] - Non-accrual loans increased to $3,210,000 in 2019 from $2,951,000 in 2018, while total risk elements decreased to $9,819,000, down from $13,616,000 in 2018[105] - The allowance for loan losses stood at $4,045,000 as of December 31, 2019, remaining stable compared to $4,046,000 in 2018[100] - As of December 31, 2019, the total allowance for loan losses was $4,045,000, representing 100% of total loans[110] - The allowance for loan losses was $4,045,000, representing 0.79% of total loans, a slight decrease from 1.14% in 2018[105] - Commercial and industrial loans accounted for $456,000 (6.3%) of the total allowance for loan losses, while commercial real estate loans made up $2,924,000 (64.7%)[110] - Residential real estate loans represented $528,000 (26.0%) of the total allowance for loan losses, showing a decrease from 29.1% in 2018[110] Securities - The total securities available-for-sale decreased to $178,000,000 in 2019 from $238,421,000 in 2018, a decline of 25.3%[91] - The total securities available-for-sale decreased from $238,421,000 in 2018 to $178,000,000 in 2019[91] - The total amount of accruing restructured loans was $6,609,000 in 2019, down from $10,516,000 in 2018, reflecting a decrease of 37.3%[105] - The total securities held-to-maturity were valued at $27,525,000 in 2019, a slight decrease from $29,721,000 in 2018[91] - The carrying value of total securities decreased from $281,817,000 in 2018 to $219,791,000 in 2019[91] - The total amount of U.S. Agency notes held was $48,984,000, with a yield of 2.01%[93] Deposits - The total amount of time deposits of $100,000 or more was $157,591,000, with $53,003,000 maturing after 12 months[112] - Time deposits of $100,000 or more totaled $157,591,000, with $53,003,000 maturing after 12 months[112] Management and Oversight - The loan portfolio is managed by a team including the Chief Lending Officer and senior portfolio lenders, ensuring oversight and policy direction[95] - The company reported a total of $156,277,000 in loans secured by multifamily properties, which constituted 12.6% of total loans as of December 31, 2019[101] Financial Metrics - The average yield on U.S. Treasury notes was reported at 2.07% for the year ended December 31, 2019[93] - The return on equity and assets data is included in the selected financial data section, indicating the company's performance metrics[113] - The company has no investments in securities of any issuer exceeding 10% of consolidated shareholders' equity as of December 31, 2019[94] - The company did not commit to lend additional funds to borrowers with modified loans due to financial deterioration[106]

Financial Performance - Net income for the three months ended September 30, 2019, was $4,727 thousand, compared to $4,201 thousand in the same period of 2018, marking a growth of 12.5%[15]. - Net income for the nine months ended September 30, 2019, was $14,082 thousand, an increase of 46.5% compared to $9,652 thousand for the same period in 2018[25]. - Basic earnings per common share for the nine months ended September 30, 2019, was $1.07, up 27.4% from $0.84 in the same period of 2018[147]. - Total comprehensive income for the three months ended September 30, 2019, was $5,572 thousand, compared to $3,151 thousand in the same period of 2018, representing an increase of 77.0%[18]. - Net income for Q3 2019 was $4,727,000, an increase of 12.5% compared to $4,201,000 in Q3 2018, with earnings per share rising from $0.32 to $0.36[196]. - For the nine months ended September 30, 2019, net income was $14,082,000, up 45.5% from $9,652,000 in the same period of 2018[196]. Income and Revenue - Net interest income for the three months ended September 30, 2019, was $13,578 thousand, up from $13,103 thousand in the same period of 2018, representing an increase of 3.6%[14]. - Non-interest income for the three months ended September 30, 2019, was $3,376 thousand, compared to $2,928 thousand in the same period of 2018, reflecting a growth of 15.3%[14]. - Total interest income for Q3 2019 increased by $1,184,000, while interest expense rose by $784,000, resulting in a net interest income increase[204]. - Net interest income for Q3 2019 was $13,679,000, reflecting a $400,000 increase from Q3 2018, driven by a $1,509,000 rise in loan interest income[204]. Assets and Liabilities - Total assets increased to $1,644,447 thousand as of September 30, 2019, compared to $1,636,927 thousand at December 31, 2018, reflecting a growth of 0.1%[11]. - Total deposits rose to $1,355,383 thousand as of September 30, 2019, from $1,300,919 thousand at December 31, 2018, indicating an increase of 4.2%[11]. - Total cash flows provided by operating activities for the nine months ended September 30, 2019, were $14,849 thousand, compared to $11,382 thousand for the same period in 2018, reflecting a 30.4% increase[25]. - Cash and cash equivalents at the end of the period on September 30, 2019, were $22,826 thousand, compared to $19,812 thousand at the end of September 30, 2018, representing a 15.9% increase[26]. - Total assets as of September 30, 2019, were $1,654,034,000, compared to $1,623,016,000 at the same time in 2018[199]. Loans and Credit Quality - Total loans as of September 30, 2019, were $1,226,020,000, an increase from $1,198,544,000 as of December 31, 2018, representing a growth of 2.30%[65]. - The allowance for loan losses at the end of September 30, 2019, was $4,167,000, slightly up from $4,046,000 at the end of 2018[68]. - Non-accrual loans totaled $3,523,000 as of September 30, 2019, compared to $2,951,000 at the end of 2018, indicating an increase of 19.35%[65]. - The provision for loan losses decreased to $264 thousand for the three months ended September 30, 2019, down from $659 thousand in the same period of 2018, a reduction of 60%[14]. - The provision for loan losses charged to expenses for the nine months ended September 30, 2019, was $213,000, compared to a provision of $962,000 for the same period in 2018[68]. Shareholder Equity and Dividends - Total shareholders' equity reached $225,492 thousand as of September 30, 2019, up from $218,985 thousand at December 31, 2018, an increase of 2.3%[11]. - The company declared dividends of $0.17 per common share for the three months ended September 30, 2019, compared to $0.16 in the same period of 2018, a growth of 6.3%[15]. - Common stock dividends paid for the nine months ended September 30, 2019, totaled $6,422 thousand, compared to $5,605 thousand in 2018, marking an increase of 14.5%[26]. Mergers and Acquisitions - LCNB issued 3,253,060 common shares at $19.55 per share, totaling $63.6 million as consideration for the merger with Columbus First Bancorp[48]. - Total identifiable assets acquired in the merger amounted to $314.1 million, with total identifiable net assets acquired at $35.4 million[48]. - Goodwill resulting from the merger was recorded at $29.0 million, reflecting LCNB's expansion in the Columbus market[49]. - The merger with Columbus First Bancorp was effective on May 31, 2018, and its results have been included in LCNB's consolidated financial statements since that date[52]. Tax and Regulatory Matters - The company recognized tax credits and other tax benefits of $262,000 for the nine months ended September 30, 2019, compared to $168,000 for the same period in 2018, marking a year-over-year increase of approximately 56.0%[112]. - The company’s effective tax rate for the nine months ended September 30, 2019, was 17.0%, slightly higher than 15.8% for the same period in 2018[118]. Other Financial Metrics - The balance of accumulated other comprehensive income (loss) at the end of the three months ended September 30, 2019, was $792,000, compared to a loss of $7,433,000 at the end of the same period in 2018[129]. - The total lease expense for the nine months ended September 30, 2019, was $469,000, which includes operating lease expense of $420,000[117]. - The weighted average remaining lease term for operating leases was 39 years, with a weighted average discount rate of 3.63%[117].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35292 LCNB Corp. (Exact name of registrant as specified in its charter) Ohio 31-1626393 (State or other jurisdiction of incorporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35292 LCNB Corp. (Exact name of registrant as specified in its charter) Ohio 31-1626393 (State or other jurisdiction of incorporati ...