Exhibit 99.2
LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)
Condensed Income Statement | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||
2010 | 2009 | 2010 | 2009 | |||||
Interest income | $ | 8,463 | 8,768 | 25,577 | 26,034 | |||
Interest expense | 2,081 | 2,455 | 6,348 | 7,709 | ||||
Net interest income | 6,382 | 6,313 | 19,229 | 18,325 | ||||
Provision for loan losses | 268 | 664 | 987 | 970 | ||||
Net interest income after provision | 6,114 | 5,649 | 18,242 | 17,355 | ||||
Non-interest income | 2,317 | 2,176 | 7,449 | 6,517 | ||||
Non-interest expense | 5,862 | 5,194 | 16,922 | 16,878 | ||||
Income before income taxes | 2,569 | 2,631 | 8,769 | 6,994 | ||||
Provision for income taxes | 580 | 588 | 1,816 | 1,548 | ||||
Net income | 1,989 | 2,043 | 6,953 | 5,446 | ||||
Preferred stock dividends and discount accretion | - | 206 | - | 514 | ||||
Net income available to common shareholders | $ | 1,989 | 1,837 | 6,953 | 4,932 | |||
Dividends per common share | $ | 0.16 | 0.16 | 0.48 | 0.48 | |||
Basic earnings per common share | $ | 0.30 | 0.27 | 1.04 | 0.74 | |||
Diluted earnings per common share | $ | 0.30 | 0.27 | 1.03 | 0.74 | |||
Average basic shares outstanding | 6,687,232 | 6,687,232 | 6,687,232 | 6,687,232 | ||||
Average diluted shares outstanding | 6,740,884 | 6,707,746 | 6,737,965 | 6,693,032 | ||||
Selected Financial Ratios | ||||||||
Return on average assets | 1.02% | 1.09% | 1.22% | 1.02% | ||||
Return on average equity | 11.01% | 10.46% | 13.45% | 9.54% | ||||
Dividend payout ratio | 53.33% | 59.26% | 46.15% | 64.86% | ||||
Net interest margin (tax equivalent) | 3.78% | 3.93% | 3.93% | 3.94% |
Selected Balance Sheet Items | September 30, 2010 | December 31, 2009 | ||
Investment securities | $ | 238,342 | 217,639 | |
Loans | 458,394 | 460,416 | ||
Less allowance for loan losses | 2,290 | 2,998 | ||
Net loans | 456,104 | 457,418 | ||
Total assets | 781,946 | 734,409 | ||
Total deposits | 672,395 | 624,179 | ||
Short-term borrowings | 6,797 | 14,265 | ||
Long-term debt | 23,467 | 24,960 | ||
Total shareholders’ equity | 72,290 | 65,615 | ||
Shares outstanding at period end | 6,687,232 | 6,687,232 | ||
Book value per share | $ | 10.81 | 9.81 | |
Equity to assets ratio | 9.24% | 8.93% | ||
Assets Under Management | ||||
LCNB Corp. total assets | $ | 781,946 | 734,409 | |
Trust and investments (fair value) | 221,378 | 197,125 | ||
Mortgage loans serviced | 63,106 | 57,369 | ||
Business cash management | 11,098 | 17,902 | ||
Brokerage accounts (fair value) | 80,353 | 72,202 | ||
Total assets managed | $ | 1,157,881 | 1,079,007 |