LCNB Corp. reported a net income of $4.4 million for the first quarter of 2026, translating to basic and diluted earnings per share of $0.31. This marks a decrease from the $4.6 million net income, or $0.33 per share, recorded in the same period of 2025. The company's net interest income increased to $18.8 million, up from $16.3 million year-over-year, primarily due to a reduction in the average rate paid on interest-bearing liabilities and an increase in the average rate earned on loans. The tax-equivalent net interest margin improved to 3.83% from 3.25% in the prior year.
In terms of operational changes, LCNB's total assets decreased slightly to $2.24 billion as of March 31, 2026, down from $2.24 billion at the end of 2025. The company experienced a decline in total loans, which fell to $1.68 billion from $1.69 billion, attributed to borrower payoffs and portfolio rebalancing efforts. The allowance for credit losses was adjusted to $13.37 million, reflecting a provision for credit losses of $2.34 million during the quarter, significantly higher than the $197,000 provision recorded in the same quarter of the previous year.
LCNB's deposit base also saw a minor decline, totaling $1.84 billion at the end of March 2026, compared to $1.84 billion at the end of 2025. The company reported a slight increase in noninterest-bearing deposits, which rose to $469.77 million, while interest-bearing deposits decreased. The overall decrease in deposits was attributed to a reduction in deposits obtained through the Insured Cash Sweep (ICS) service, although there was an increase in interest-bearing demand deposits.
Looking ahead, LCNB's management remains cautious about the economic environment, particularly regarding the logistics sector, which has faced challenges. The company is focused on maintaining strong asset quality, with nonperforming loans representing 0.19% of total loans as of March 31, 2026, a slight improvement from 0.28% a year earlier. LCNB's management is committed to monitoring credit risks and adjusting strategies as necessary to navigate potential economic uncertainties.
About LCNB CORP
LCNB Corp. is a financial holding company based in Ohio, primarily operating through its wholly-owned subsidiary, LCNB National Bank. It offers a range of banking services including commercial, real estate, consumer, and agricultural loans, along with wealth management, trust, and investment services. Serving Ohio and Kentucky, it emphasizes community banking, personal service, and technological innovation to compete in a highly regulated, competitive market.
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