secwatch.observer — SEC 8-K summary
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Issuer:     LCNB CORP (LCNB)
CIK:        0001074902
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001074902-24-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LCNB Corp Q1 net income falls 54% to $1.9M; EPS $0.15 vs $0.37; Eagle deal closed Apr 12
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- GAAP net income $1.9M (EPS $0.15) vs $4.2M ($0.37) YoY; adjusted net income $2.6M ($0.20) excluding $775K merger costs.
- Net interest income flat at $13.9M; net interest margin (tax-equivalent) fell to 2.72% from 3.28% due to deposit repricing.
- Non-interest income up 9.7% to $3.9M, but non-interest expense rose $2.9M to $15.5M including merger expenses.
- Completed Eagle Financial Bancorp acquisition on April 12; total assets pro forma $2.28B, deposits $1.99B, loans $1.79B.
- Dividend raised 4.8% to $0.22/share; nonperforming loans 0.20% of total loans vs 0.05% prior year due to one CRE relationship.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074902/000107490224000075/0001074902-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074902/000107490224000075/lcnb-20240429.htm
  HTML page:      https://secwatch.observer/filing/0001074902-24-000075

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