LCNB Corp. reported a significant increase in financial performance for the second quarter and first half of 2025, with net income reaching $5.9 million, or $0.41 per share, compared to $0.9 million, or $0.07 per share, in the same period of 2024. For the six months ending June 30, 2025, net income totaled $10.5 million, or $0.74 per share, up from $2.8 million, or $0.21 per share, in the prior year. The substantial growth in earnings was attributed to a decrease in interest expenses and improved non-interest income, despite the challenges posed by the acquisition-related expenses from previous mergers.
Total interest income for the second quarter of 2025 was $25.9 million, a slight decrease from $26.9 million in the same quarter of 2024. However, net interest income increased to $17.5 million from $15.2 million year-over-year, driven by a reduction in the average rate paid on interest-bearing liabilities. The tax-equivalent net interest margin improved to 3.36% for the first half of 2025, compared to 2.80% in the same period last year. The provision for credit losses was notably lower at $18,000 for the second quarter, down from $528,000 in 2024, reflecting a more stable credit environment.
Operationally, LCNB's total assets remained relatively stable at $2.3 billion as of June 30, 2025, compared to $2.3 billion at the end of 2024. Total deposits increased to $1.9 billion, up from $1.9 billion, with noninterest-bearing deposits rising slightly. The company’s loan portfolio, however, saw a minor decline, with net loans at $1.7 billion, down from $1.7 billion at the end of 2024. The decrease was primarily due to reductions in commercial and industrial loans, as well as non-owner occupied commercial real estate loans.
Strategically, LCNB completed the acquisition of Eagle Financial Bancorp, Inc. in April 2024, which expanded its presence in the Cincinnati market. The integration of this acquisition is expected to yield operational synergies and enhance LCNB's market share. The company has also introduced new products and services aimed at increasing customer engagement and retention. Looking ahead, LCNB management remains optimistic about future growth, citing a strong capital position and a commitment to maintaining adequate liquidity to support ongoing operations and strategic initiatives.
About LCNB CORP
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