Exhibit 99.2
LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)
Share and per share data have been restated to reflect a 100% stock dividend paid on May 10, 2007.
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Condensed Income Statement | | Three Months Ended September 30, | | Nine Months Ended September 30, |
| | 2008 | | 2007 | | 2008 | | 2007 |
Interest income | $ | 8,608 | | 7,920 | | 25,687 | | 23,703 |
Interest expense | | 3,290 | | 3,532 | | 10,205 | | 10,226 |
Net interest income | | 5,318 | | 4,388 | | 15,482 | | 13,477 |
Provision for loan losses | | 188 | | 75 | | 322 | | 158 |
Net interest income after provision | | 5,130 | | 4,313 | | 15,160 | | 13,319 |
Non-interest income | | 2,203 | | 2,117 | | 6,430 | | 6,220 |
Non-interest expense | | 4,928 | | 4,628 | | 14,975 | | 13,777 |
Income before income taxes | | 2,405 | | 1,802 | | 6,615 | | 5,762 |
Provision for income taxes | | 611 | | 432 | | 1,679 | | 1,397 |
Net income | $ | 1,794 | | 1,370 | | 4,936 | | 4,365 |
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Dividends per common share | $ | 0.16 | | 0.155 | | 0.48 | | 0.465 |
Basic earnings per common share | $ | 0.27 | | 0.22 | | 0.74 | | 0.69 |
Diluted earnings per common share | $ | 0.27 | | 0.22 | | 0.74 | | 0.69 |
Average basic shares outstanding | | 6,687,232 | | 6,345,486 | | 6,687,232 | | 6,360,654 |
Average diluted shares outstanding | | 6,687,232 | | 6,345,615 | | 6,687,232 | | 6,361,415 |
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Selected Financial Ratios | | | | | | | | |
Return on average assets | | 1.09% | | 0.99% | | 1.05% | | 1.07% |
Return on average equity | | 12.27% | | 10.47% | | 11.38% | | 11.28% |
Dividend payout ratio | | 59.26% | | 70.45% | | 64.86% | | 67.39% |
Net interest margin (tax equivalent) | | 3.68% | | 3.64% | | 3.74% | | 3.78% |
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Selected Balance Sheet Items | | September 30, 2008 | | December 31, 2007 |
Investment securities | $ | 139,638 | | 90,154 |
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Loans | | 450,161 | | 446,887 |
Less allowance for loan losses | | 2,468 | | 2,468 |
Net loans | | 447,693 | | 444,419 |
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Total assets | | 666,564 | | 604,058 |
Total deposits | | 596,187 | | 535,929 |
Short-term borrowings | | 1,645 | | 1,459 |
Long-term debt | | 5,000 | | 5,000 |
Total shareholders’ equity | | 58,583 | | 56,528 |
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Shares outstanding at period end | | 6,687,232 | | 6,687,232 |
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Book value per share | $ | 8.76 | | 8.45 |
Equity to assets ratio | | 8.79% | | 9.36% |
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Assets Under Management | | | | |
LCNB Corp. total assets | $ | 666,564 | | 604,058 |
Trust and investments (fair value) | | 184,390 | | 199,053 |
Mortgage loans serviced | | 38,571 | | 40,260 |
Business cash management | | 33,189 | | 34,532 |
Brokerage accounts (fair value) | | 58,606 | | 58,929 |
Total assets managed | $ | 981,320 | | 936,832 |