LCNB signs $23.1M deal for Eagle Financial Bancorp at $19.10/share or 1.1401 shares

LCNB CORP

Exchange ratio: 1.1401 LCNB shares or $19.10 cash per EFBI share; aggregate value ~$23.1M.
Expected ~11.5% accretive to 2025 EPS and ~11.1% accretive to 2026 EPS.
Tangible book value dilution ~2.4% at close; earn-back period ~2.1 years using crossover method.
Eagle had $175.8M assets, $140.8M loans, $135.0M deposits as of Sept 30, 2023.
Transaction expected to close in Q2 2024; Patricia L. Walter to join LCNB as EVP.

item 1.01 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LCNB CORP entered into Agreement and Plan of Merger with Eagle Financial Bancorp, Inc. (effective 2023-11-28).

Action: entry
Agreement: merger
Counterparty: Eagle Financial Bancorp, Inc.
Effective: 2023-11-28

Exact text from the filing

On November 28, 2023, LCNB Corp., an Ohio corporation (“LCNB”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Eagle Financial Bancorp, Inc., a Maryland corporation (“EFBI”).

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LCNB CORP filing history →

Source: SEC EDGAR

accession 0001074902-23-000107

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