LCNB (US:LCNB)2020-03-04 21:41Loan 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]