LCNB Corp. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011
January 27, 2012 at 01:30 am IST
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LCNB Corp. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net interest income of $6,477,000 against $6,439,000 a year ago. Income before income taxes was $2,524,000 against $3,126,000 a year ago. Net income from continuing operations was $1,954,000, or $0.29 per basic share against net income from continuing operations of $2,357,000, or $0.35 per basic share a year ago. Return on average assets was 0.97% against 1.23% a year ago. Return on average equity was 9.94% against 13.09% a year ago. Book value per share was $11.63 against $10.57 a year ago. Net interest income increased due to in average interest earning
assets, partially offset by a decrease in the net interest margin.
For the year, the company reported net interest income of $25,706,000 against $25,697,000 a year ago. Income before income taxes was $9,532,000 against $11,627,000 a year ago. Net income from continuing operations was $7,322,000, or $1.09 per basic share against net income from continuing operations of $9,133,000, or $1.37 per basic share a year ago. Return on average assets was 1.02% against 1.22% a year ago. Return on average equity was 10.89% against 13.36% a year ago. Net interest income increased due to in average interest earning assets, partially offset by a decrease in the net interest margin.
LCNB Corp. is a financial holding company. The Company operates, through its wholly owned subsidiary, LCNB National Bank (the Bank), which serves customers and communities in Southwest and South-Central Ohio and Northern Kentucky. The Bank operates over 36 full-service banking offices in Ohio and one branch office in Northern Kentucky. The Bank operates in convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank also provides community-oriented banking services to customers in Northern Kentucky through a bank office in Boone County, Kentucky. It provides an array of services for all personal and business banking needs, including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. Its other services include safe deposit boxes, night depositories, and others.