LCNB Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
January 29, 2018 at 05:52 pm EST
Share
LCNB Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income was $11,610,000 against $11,226,000 a year ago. Net interest income was $10,657,000 against $10,339,000 a year ago. Other operating income was $124,000 against $117,000 a year ago. Income before income taxes was $4,634,000 against $4,991,000 a year ago. Net income was $3,617,000 against $3,654,000 a year ago. Diluted earnings per share was $0.36 against $0.37 a year ago.
For the full year, the company reported total interest income was $44,463,000 against $43,750,000 a year ago. Net interest income was $40,864,000 against $40,246,000 a year ago. Other operating income was $483,000 against $487,000 a year ago. Income before income taxes was $17,244,000 against $16,925,000 a year ago. Net income was $12,972,000 against $12,482,000 a year ago. Diluted earnings per share was $1.29 against $1.25 a year ago. Net interest income for the three months and twelve months ended December 31, 2017 was, respectively greater than the comparable periods in 2016, primarily due to growth in LCNB's loan portfolio, partially offset by a decrease in average investment securities.
LCNB Corp. is a financial holding company. The Company operates, through its wholly owned subsidiary, LCNB National Bank (the Bank), which serves customers and communities in Southwest and South-Central Ohio and Northern Kentucky. The Bank operates over 36 full-service banking offices in Ohio and one branch office in Northern Kentucky. The Bank operates in convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank also provides community-oriented banking services to customers in Northern Kentucky through a bank office in Boone County, Kentucky. It provides an array of services for all personal and business banking needs, including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. Its other services include safe deposit boxes, night depositories, and others.