LCNB Q3 profit rises on wider interest margin despite higher credit costs
LCNB•LCNB's third-quarter net income rose 5% year over year to $7.31 million, with earnings per share of $0.51. Net interest income increased as the net interest margin widened, while credit provisions, net charge-offs and nonperforming loans also rose.
1. Quarterly results
LCNB reported third-quarter net income of $7.31 million, up 5% from a year earlier, and earnings per share of $0.51. Net interest income increased to $19.68 million, supported by a higher net interest margin.
2. Credit and growth plans
Credit provisions, net charge-offs and nonperforming loans increased from a year earlier. The company said capital from subordinated debt will support future growth and expansion strategies, and it plans to focus on organic growth and expanding wealth-management relationships.
