LCNB CORP (LCNB): M&A transaction — LCNB completes acquisition of Cincinnati Bancorp; pro forma deposits $1.8B

LCNB CORP

Each CNNB share converted into 0.9274 LCNB shares, $17.21 cash, or a combination.
CNNB shares ceased trading on OTCQX Market as of November 1, 2023.
Combined entity now operates 33 full-service branches in Ohio and one in Kentucky.
Pro forma at Sept 30, 2023: total deposits $1.8B, total loans $1.7B.
Robert A. Bedinghaus, former CNNB Chairman/CEO, to join LCNB and LCNB National Bank boards.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LCNB CORP completed an acquisition involving Cincinnati Bancorp, Inc. for 0.9274 common shares of LCNB, $17.21 in cash, or a combination of both (closed 2023-11-01).

Action: acquisition
Counterparty: Cincinnati Bancorp, Inc.
Consideration: 0.9274 common shares of LCNB, $17.21 in cash, or a combination of both
Closing: 2023-11-01

Exact text from the filing

for in the Merger Agreement), upon the election of the shareholder and in accordance with the procedures set forth in the Merger Agreement, converted into the right to receive 0.9274 common shares of LCNB, $17.21 in cash, or a combination of both. In addition, each CNNB shareholder who would otherwise be entitled to receive a fractional share of LCNB common

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LCNB CORP filing history →

Source: SEC EDGAR

accession 0001074902-23-000097

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