- LCNB Corp. (LCNB, Financial) reports a 120% year-over-year increase in Q1 2025 earnings per diluted share to $0.33.
- The company's net interest margin hits a seven-quarter high of 3.25%.
- LCNB Wealth Management assets grow by 7.4%, reaching a record $1.40 billion.
LCNB Corp. (LCNB), headquartered in Lebanon, Ohio, announced its financial results for the first quarter of 2025, showing a strong performance with a significant 120% increase in earnings per diluted share to $0.33, compared to $0.15 in the same period last year. This surge reflects the company's successful acquisition strategies, balance sheet optimizations, and robust operational performance.
The company's net interest margin expanded to 3.25%, marking the highest level in seven quarters. This margin growth was primarily driven by a reduction in average interest rates on liabilities and higher average rates on loans, resulting in net interest income rising to $16.3 million from $13.9 million in Q1 2024.
LCNB Wealth Management assets reached a new peak of $1.40 billion, a 7.4% increase year-over-year, contributing to a 9.7% rise in fiduciary income, which totaled $2.2 million. The company continues to benefit from its strategic acquisitions, including the April 2024 acquisition of Eagle Financial Bancorp, Inc., which achieved a positive tangible book value earn back ahead of schedule. In addition, the November 2023 acquisition of Cincinnati Federal is on track for a similar earn back by early 2026.
Asset quality remains solid, with non-performing assets constituting just 0.21% of total assets as of March 31, 2025. LCNB's balance sheet also shows an increase in total assets to $2.30 billion, up from $2.28 billion a year ago, and total deposits grew by 3.4% to $1.92 billion. Eric Meilstrup, President and CEO of LCNB, expressed confidence in the company's position for continued profitable growth throughout 2025, citing their expanded banking platform and strong asset quality as key factors driving future success.
