secwatch.observer — SEC 8-K summary
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Issuer:     LCNB CORP (LCNB)
CIK:        0001074902
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001074902-23-000065
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LCNB Corp. to acquire Cincinnati Bancorp for ~$43.7M in stock/cash; 108.9% of tangible book
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- CNNB shareholders elect 0.9274 LCNB shares or $17.21 cash per share; 80% stock/20% cash mix.
- Consideration valued at ~$43.7M; 108.9% of tangible book value and 32.3x LTM earnings.
- Transaction ~18.2% accretive to 2024 EPS and ~26.2% to 2025 EPS; TBV dilution ~6.6% with ~2.3yr earn-back.
- One-time after-tax costs estimated at $7.3M; expected close Q4 2023 pending approvals.
- CNNB has $304.7M assets; Robert Bedinghaus to join LCNB board post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074902/000107490223000065/0001074902-23-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074902/000107490223000065/lcnb-20230518.htm
  HTML page:      https://secwatch.observer/filing/0001074902-23-000065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer