LCNB closes $25M subordinated notes offering; proceeds to repay $8.8M debt

LCNB CORP

Issued $25.0M aggregate 6.50% Fixed-to-Floating Rate Subordinated Notes due 2036.
Notes convert to 3-month SOFR + 234 bps after Aug 15, 2031; callable on/after that date.
Proceeds: repay ~$8.8M existing long-term debt; remainder for general corporate/growth.
Notes structured to qualify as Tier 2 capital; unsecured, subordinated, no holder redemption.
CEO cites record Q2 results and growth opportunities; Brean Capital sole placement agent.

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