Q1 2025 GAAP net earnings per share improved 120% year-over-year to $0.33 per diluted share, reflecting the continued contribution from the Company's recent acquisitions, balance sheet optimization strategies and strong operating performance

Net interest margin expands to 3.25%, the highest quarterly level in seven quarters

LCNB Wealth Management assets increased 7.4% year-over-year to a record $1.40 billion at March 31, 2025, resulting in fiduciary income of $2.2 million, a 9.7% increase

Asset quality remains at historically strong levels with non-performing assets to total assets of 0.21% at March 31, 2025

LCNB Corp. ("LCNB") (NASDAQ:LCNB) today announced financial results for the three months ended March 31, 2025.

Commenting on the financial results, LCNB President and Chief Executive Officer, Eric Meilstrup said, "Our first-quarter performance reflects the continued success of our strategic initiatives focused on integrating recent acquisitions, strengthening our balance sheet, and delivering valuable financial products and services to our communities. I am also pleased to report that the April 2024 Eagle Financial Bancorp, Inc. ("Eagle") acquisition has already experienced a positive tangible book value earn back, which is a year earlier than expected. The November 2023 Cincinnati Federal acquisition remains on schedule for a positive tangible book value earn back by early 2026. We continue to pursue growth strategies across our expanded Southwestern Ohio footprint, including leveraging our LCNB Wealth Management capabilities."

Mr. Meilstrup continued: "The actions we took last year to improve our balance sheet have reduced more expensive borrowings and further fortified our balance sheet. As a result, we ended the quarter with our strongest loan-to-deposit ratio in four quarters, our highest net interest margin in seven quarters, and our largest equity-to-asset ratio in twelve quarters. These achievements, combined with solid operating performance, contributed to a 120% year-over-year increase in earnings per diluted share and continued growth in both book value and tangible book value per share."

"While the economic and geopolitical environment has become more uncertain, we remain focused on further strengthening our balance sheet, optimizing profitability, and continuing to provide our communities with exceptional financial products and services. I am confident in the long-term direction we are headed. We continue to believe LCNB is well positioned for profitable growth in 2025, as we benefit further from our expanded banking platform, strong asset quality, and compelling financial model," concluded Mr. Meilstrup.

Income Statement

Net income for the 2025 first quarter was $4.6 million, compared to $1.9 million for the same period last year. Earnings per basic and diluted share for the 2025 first quarter were $0.33, compared to $0.15 for the same period last year.

Net interest income for the three months ended March 31, 2025 was $16.3 million, compared to $13.9 million for the same period in 2024. The growth in net interest income was primarily due to the reduction in average interest rates paid on interest-bearing liabilities and higher average rates earned on loans. For the 2025 first quarter, LCNB's tax equivalent net interest margin was 3.25%, compared to 2.72% for the same period last year.

Non-interest income for the three months ended March 31, 2025 was $5.2 million, compared to $3.9 million for the same period last year. The $1.3 million, or 32.9% year-over-year increase in non-interest income was due to net gains from sales of loans, as well as higher fiduciary income, service charges, and other income.

Non-interest expense for the three months ended March 31, 2025 was $15.8 million, compared to $15.5 million for the same period last year. The $337,000 increase was primarily due to higher operating expenses associated with the Eagle acquisition during April 2024 and increased marketing expenses, partially offset by the lack of merger-related expenses compared to the same period last year. The Company had $775,000 of one-time merger-related expenses that occurred in the 2024 first quarter.

Capital Allocation

For the three months ended March 31, 2025, LCNB paid $0.22 per share in dividends.

Balance Sheet

Total assets at March 31, 2025 increased 0.9%, to $2.30 billion, from $2.28 billion at March 31, 2024. Net loans at March 31, 2025 were $1.71 billion, an increase of 3.6%, or $59.7 million, from March 31, 2024. During the quarter ended March 31, 2025, the Company originated $84.9 million in loans and sold $21.5 million into the secondary market, which generated $841,000 of gains and benefited first quarter non-interest income.

Loans held for sale totaled $6.1 million at March 31, 2025, compared to $5.6 million at December 31, 2024 and $75.6 million at March 31, 2024, and are primarily composed of loans scheduled to be sold to an investor. Proceeds from loan sales that occurred during 2024 were used for general corporate purposes that included supporting loan originations, paying down higher cost funding sources, and adding to liquidity balances.

Total deposits at March 31, 2025 increased 3.4% to $1.92 billion compared to $1.86 billion at March 31, 2024. Not including the Eagle acquisition, total deposit relationships, including off-balance-sheet deposits, increased 1.29% organically, or by $24.5 million, from March 31, 2024.

At March 31, 2025, shareholders' equity was $258.7 million, compared to $233.7 million at March 31, 2024. On a per-share basis, shareholders' equity at March 31, 2025 was $18.26, compared to $17.67 at March 31, 2024.

At March 31, 2025, tangible shareholders' equity was $160.6 million, compared to $149.0 million at March 31, 2024. The 7.8% year-over-year increase in tangible shareholders' equity was primarily from higher retained earnings and an improvement in the unrealized losses on the available-for-sale investment portfolio. On a per-share basis, tangible shareholders' equity was $11.34 at March 31, 2025, compared to $11.26 at March 31, 2024.

Assets Under Management

Total assets managed at March 31, 2025 were $4.16 billion, compared to $3.98 billion at March 31, 2024. The year-over-year increase in total assets managed was due to the Eagle acquisition and organic growth in LCNB total assets, trust and investments, cash management, and brokerage accounts, partially offset by lower mortgage loans serviced. Organically, trust and investments and brokerage accounts increased due to a higher number of new LCNB Wealth Management customer accounts and an increase in the fair value of managed assets.

Asset Quality

For the 2025 first quarter, LCNB recorded a provision for credit losses of $197,000, compared to a provision for credit losses of $125,000 for the 2024 first quarter.

Net charge-offs for the 2025 first quarter were $39,000, or 0.01% of average loans, compared to net charge-offs of $45,000, or 0.01% of average loans, annualized, for the same period last year.

Total nonperforming loans, which include non-accrual loans and loans past due 90 days or more and still accruing interest, were $4.9 million, or 0.28% of total loans, at March 31, 2025, compared to $3.2 million, or 0.20% of total loans, at March 31, 2024. The year-over-year increase in nonaccrual loans was primarily due to one commercial and industrial relationship, representing a balance of $1.4 million, and three residential real estate loans, representing a balance of $557,000. LCNB does not foresee any additional losses on these loans, as they are currently deemed to have adequate provision. The nonperforming assets-to-total-assets ratio was 0.21% at March 31, 2025, compared to 0.14% at March 31, 2024.

About LCNB Corp.

LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the "Bank"), it serves customers and communities in Southwest and South-Central Ohio. A financial institution with a long tradition for building strong relationships with customers and communities, the Bank offers convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank continually strives to exceed customer expectations and 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. LCNB Corp. common shares are traded on the NASDAQ Capital Market Exchange® under the symbol "LCNB." Learn more about LCNB Corp. at www.lcnb.com

Forward-Looking Statements

Certain statements made in this news release regarding LCNB's financial condition, results of operations, plans, objectives, future performance and business, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by the fact they are not historical facts and include words such as "anticipate", "could", "may", "feel", "expect", "believe", "plan", and similar expressions. Please refer to LCNB's Annual Report on Form 10-K for the year ended December 31, 2024, as well as its other filings with the SEC, for a more detailed discussion of risks, uncertainties and factors that could cause actual results to differ from those discussed in the forward-looking statements.

These forward-looking statements reflect management's current expectations based on all information available to management and its knowledge of LCNB's business and operations. Additionally, LCNB's financial condition, results of operations, plans, objectives, future performance and business are subject to risks and uncertainties that may cause actual results to differ materially. These factors include, but are not limited to:

	1.	the success, impact, and timing of the implementation of LCNB's business strategies;
	2.	LCNB's ability to integrate recent and future acquisitions, including Cincinnati Bancorp, Inc. and Eagle Financial Bancorp, Inc., may be unsuccessful or may be more difficult, time-consuming, or costly than expected;
	3.	LCNB may incur increased loan charge-offs in the future and the allowance for credit losses may be inadequate;
	4.	LCNB may face competitive loss of customers;
	5.	changes in the interest rate environment, either by interest rate increases or decreases, may have results on LCNB's operations materially different from those anticipated by LCNB's market risk management functions;
	6.	changes in general economic conditions and increased competition could adversely affect LCNB's operating results;
	7.	changes in regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact LCNB's operating results;
	8.	LCNB may experience difficulties growing loan and deposit balances;
	9.	United States trade relations with foreign countries could negatively impact the financial condition of LCNB's customers, which could adversely affect LCNB's operating results and financial condition;
	10.	global and/or domestic geopolitical relations and/or conflicts could create financial market uncertainty and have negative impacts on commodities, currency, and stability, which could adversely affect LCNB's operating results and financial condition;
	11.	difficulties with technology or data security breaches, including cyberattacks or widespread outages, could negatively affect LCNB's ability to conduct business and its relationships with customers, vendors, and others;
	12.	adverse weather events and natural disasters and global and/or national epidemics could negatively affect LCNB's customers given its concentrated geographic scope, which could impact LCNB's operating results; and
	13.	government intervention in the U.S. financial system, including the effects of legislative, tax, accounting, and regulatory actions and reforms, including, the Jumpstart Our Business Startups Act, the Consumer Financial Protection Bureau, the capital ratios of Basel III as adopted by the federal banking authorities, changes in deposit insurance premium levels, and any such future regulatory actions or reforms.

Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist shareholders and potential investors in understanding current and anticipated financial operations of LCNB and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. LCNB undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made.

Exhibit 99.2
LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)
(Unaudited)

	Three Months Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Condensed Income Statement
Interest income	$	25,316			26,894			26,398			26,965			24,758
Interest expense		9,017			10,181			11,428			11,748			10,863
Net interest income		16,299			16,713			14,970			15,217			13,895
Provision for credit losses		197			649			660			528			125
Net interest income after provision for credit losses		16,102			16,064			14,310			14,689			13,770
Non-interest income		5,222			5,988			6,407			4,080			3,929
Non-interest expense		15,809			14,592			15,387			17,825			15,472
Income before income taxes		5,515			7,460			5,330			944			2,227
Provision for income taxes		906			1,340			798			19			312
Net income	$	4,609		$	6,120		$	4,532		$	925		$	1,915

Supplemental Income Statement Information
Accretion income on acquired loans	$	692			1,271			800			1,248			776
Amortization expenses on acquired interest-bearing liabilities		—			119			378			638			459
Tax-equivalent net interest income		16,338			16,754			15,013			15,256			13,933
Pre-provision, pre-tax net income		5,712			8,109			5,990			1,472			2,352

Per Share Data
Dividends per share	$	0.22			0.22			0.22			0.22			0.22
Basic earnings per common share	$	0.33			0.44			0.31			0.07			0.15
Diluted earnings per common share	$	0.33			0.44			0.31			0.07			0.15
Book value per share	$	18.26			17.92			17.95			17.33			17.67
Tangible book value per share	$	11.34			10.96			10.97			10.08			11.26
Weighted average common shares outstanding:
Basic		14,051,310			14,027,043			14,018,765			13,948,671			13,112,302
Diluted		14,051,310			14,027,043			14,018,765			13,948,671			13,112,302
Shares outstanding at period end		14,166,915			14,118,040			14,110,210			14,151,755			13,224,276

Selected Financial Ratios
Return on average assets		0.81	%		1.04	%		0.76	%		0.15	%		0.34	%
Return on average equity		7.33	%		9.60	%		7.23	%		1.53	%		3.28	%
Return on average tangible common equity		11.91	%		15.67	%		12.27	%		2.59	%		5.12	%
Dividend payout ratio		66.67	%		50.00	%		70.97	%		314.29	%		146.67	%
Net interest margin (tax equivalent)		3.25	%		3.22	%		2.84	%		2.86	%		2.72	%
Efficiency ratio (tax equivalent)		73.33	%		64.16	%		71.83	%		92.19	%		86.62	%

Selected Balance Sheet Items
Cash and cash equivalents	$	37,670			35,744			39,374			34,872			32,951
Debt and equity securities		305,644			306,795			313,545			312,241			306,775

Loans:
Commercial and industrial	$	112,580			118,494			119,079			125,703			122,229
Commercial, secured by real estate		1,110,276			1,113,921			1,105,405			1,117,798			1,099,601
Residential real estate		463,379			456,298			459,740			458,949			398,250
Consumer		19,030			20,474			22,088			22,912			24,137
Agricultural		13,161			13,242			13,113			11,685			12,647
Other, including deposit overdrafts		133			179			496			233			73
Deferred net origination fees		(929	)		(796	)		(861	)		(533	)		(583	)
Loans, gross		1,717,630			1,721,812			1,719,060			1,736,747			1,656,354
Less allowance for credit losses		12,124			12,001			11,867			11,270			10,557
Loans, net	$	1,705,506		$	1,709,811		$	1,707,193		$	1,725,477		$	1,645,797

Loans held for sale	$	6,098			5,556			35,687			44,002			75,581

	Three Months Ended
	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Selected Balance Sheet Items, continued

Allowance for Credit Losses on Loans:
Allowance for credit losses, beginning of period	$	12,001			11,867			11,270			10,557			10,525
Fair value adjustment for purchased credit deteriorated loans		—			—			—			189			—
Provision for credit losses on loans		162			728			681			542			77
Losses charged off		(53	)		(616	)		(122	)		(87	)		(78	)
Recoveries		14			22			38			69			33
Allowance for credit losses, end of period	$	12,124			12,001			11,867			11,270			10,557

Total earning assets	$	2,038,666			2,044,208			2,044,318			2,058,110			1,971,130
Goodwill		90,310			90,310			90,209			93,922			79,559
Core deposit intangibles		7,708			8,006			8,309			8,613			5,152
Mortgage servicing rights		2,908			3,098			3,296			3,522			3,751
Other non-earning assets		163,153			161,772			200,776			207,146			223,559
Total non-earning assets		264,079			263,186			302,590			313,203			312,021
Total assets		2,302,745			2,307,394			2,346,908			2,371,313			2,283,151
Total deposits		1,921,649			1,878,292			1,917,005			1,943,060			1,858,493
Short-term borrowings		—			—			—			—			10,000
Long-term debt		104,637			155,153			155,662			162,150			162,638
Total shareholders' equity		258,651			253,036			253,246			245,214			233,663
Equity to assets ratio		11.23	%		10.97	%		10.79	%		10.34	%		10.23	%
Loans to deposits ratio		89.38	%		91.67	%		89.67	%		89.38	%		89.12	%

Tangible common equity (TCE)	$	160,633			154,721			154,728			142,679			148,952
Tangible common assets (TCA)		2,204,727			2,209,079			2,248,390			2,268,778			2,198,440
TCE/TCA		7.29	%		7.00	%		6.88	%		6.29	%		6.78	%

Selected Average Balance Sheet Items
Cash and cash equivalents	$	36,125			31,648			39,697			39,396			51,366
Debt and equity securities		304,033			311,323			314,255			309,668			310,771

Loans, including loans held for sale	$	1,721,894			1,751,644			1,770,330			1,818,253			1,722,568
Less allowance for credit losses on loans		11,996			11,856			11,281			11,386			10,523
Net loans	$	1,709,898			1,739,788			1,759,049			1,806,867			1,712,045

Total earning assets	$	2,036,514			2,072,397			2,099,954			2,142,064			2,056,656
Goodwill		90,310			90,218			94,006			91,733			79,526
Core deposit intangibles		7,854			8,154			8,458			8,302			5,275
Mortgage servicing rights		3,099			3,296			3,522			3,746			4,094
Other non-earning assets		160,281			158,022			159,736			158,937			149,215
Total non-earning assets		261,544			259,690			265,722			262,718			238,110
Total assets		2,298,058			2,332,087			2,365,676			2,404,782			2,294,766
Total deposits		1,896,443			1,901,442			1,936,601			1,965,987			1,824,546
Short-term borrowings		72			11			11			11,291			65,052
Long-term debt		127,289			155,573			158,419			162,555			150,177
Total shareholders' equity		255,120			253,727			249,370			243,927			235,119
Equity to assets ratio		11.10	%		10.88	%		10.54	%		10.14	%		10.25	%
Loans to deposits ratio		90.80	%		92.12	%		91.41	%		92.49	%		94.41	%

Asset Quality
Net charge-offs	$	39			595			84			18			45
Other real estate owned		—			—			—			—			—

Non-accrual loans	$	4,710			4,528			3,001			2,845			2,719
Loans past due 90 days or more and still accruing		181			90			283			159			524
Total nonperforming loans	$	4,891		$	4,618		$	3,284		$	3,004		$	3,243

Net charge-offs to average loans		0.01	%		0.14	%		0.02	%		0.00	%		0.01	%
Allowance for credit losses on loans to total loans		0.71	%		0.70	%		0.69	%		0.65	%		0.64	%
Nonperforming loans to total loans		0.28	%		0.27	%		0.19	%		0.17	%		0.20	%
Nonperforming assets to total assets		0.21	%		0.20	%		0.14	%		0.13	%		0.14	%

	Three Months Ended
	3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024
Assets Under Management
LCNB Corp. total assets	$	2,302,745		2,307,394		2,346,908		2,371,313		2,283,151
Trust and investments (fair value)		957,359		942,249		933,341		897,746		890,800
Mortgage loans serviced		354,593		397,625		366,175		422,951		386,490
Cash management		100,830		146,657		165,218		93,842		13,314
Brokerage accounts (fair value)		441,621		438,310		435,611		419,646		411,211
Total assets managed	$	4,157,148		4,232,235		4,247,253		4,205,498		3,984,966

	Three Months Ended March 31,																	Three Months Ended December 31,
	2025								2024									2024
	Average			Interest		Average			Average			Interest			Average			Average			Interest		Average
	Outstanding			Earned/		Yield/			Outstanding			Earned/			Yield/			Outstanding			Earned/		Yield/
	Balance			Paid		Rate			Balance			Paid			Rate			Balance			Paid		Rate
Loans (1)	$	1,721,894			23,181		5.46	%	$	1,722,568			22,682			5.30	%	$	1,751,644			24,617		5.59	%
Interest-bearing demand deposits		10,337			130		5.10	%		23,317			324			5.59	%		9,185			143		6.19	%
Interest-bearing time deposits		250			—		—			—			—			—	%		245			—		—	%
Federal Reserve Bank stock		6,405			95		6.02	%		5,509			(4	)		(0.29	)%		6,414			193		11.97	%
Federal Home Loan Bank stock		20,710			469		9.18	%		16,239			341			8.45	%		20,710			469		9.01	%
Investment securities:
Equity securities		5,043			39		3.14	%		4,995			40			3.22	%		5,043			65		5.13	%
Debt securities, taxable		254,715			1,256		2.00	%		265,164			1,232			1.87	%		260,429			1,251		1.91	%
Debt securities, non-taxable (2)		17,160			185		4.37	%		18,864			181			3.86	%		18,727			197		4.18	%
Total earnings assets		2,036,514			25,355		5.05	%		2,056,656			24,796			4.85	%		2,072,397			26,935		5.17	%
Non-earning assets		273,545								248,633									271,546
Allowance for credit losses		(12,001	)							(10,523	)								(11,856	)
Total assets	$	2,298,058							$	2,294,766								$	2,332,087

Interest-bearing demand and money market deposits	$	570,473			2,337		1.66	%	$	643,199			3,917			2.45	%	$	551,626			2,379		1.72	%
Savings deposits		365,876			195		0.22	%		368,049			206			0.23	%	$	366,310			241		0.26	%
IRA and time certificates		497,178			5,027		4.10	%		370,130			4,067			4.42	%	$	523,486			5,760		4.38	%
Short-term borrowings		72			1		5.63	%		65,052			935			5.78	%	$	43			1		5.11	%
Long-term debt		127,289			1,457		4.64	%		150,177			1,738			4.65	%	$	155,573			1,800		4.60	%
Total interest-bearing liabilities		1,560,888			9,017		2.34	%		1,596,607			10,863			2.74	%		1,597,038			10,181		2.54	%
Demand deposits		462,916								443,168									460,020
Other liabilities		19,134								19,872									21,302
Equity		255,120								235,119									253,727
Total liabilities and equity	$	2,298,058							$	2,294,766								$	2,332,087
Net interest rate spread (3)							2.71	%								2.11	%							2.63	%
Net interest income and net interest margin on a taxable-equivalent basis (4)					16,338		3.25	%					13,933			2.72	%					16,754		3.22	%
Ratio of interest-earning assets to interest-bearing liabilities		130.47	%							128.81	%								129.77	%

(1)	Includes non-accrual loans and loans held for sale
(2)	Income from tax-exempt securities is included in interest income on a taxable-equivalent basis. Interest income has been divided by a factor comprised of the complement of the incremental tax rate of 21%.
(3)	The net interest spread is the difference between the average rate on total interest-earning assets and interest-bearing liabilities.
(4)	The net interest margin is the taxable-equivalent net interest income divided by average interest-earning assets.

Exhibit 99.2
LCNB CORP. AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited, dollars in thousands)

	March 31, 2025			December 31, 2024
	Unaudited			Audited
ASSETS:
Cash and due from banks	$	28,626			20,393
Interest-bearing demand deposits		9,044			15,351
Total cash and cash equivalents		37,670			35,744
Interest-bearing time deposits		250			250
Investment securities:
Equity securities with a readily determinable fair value, at fair value	$	1,387			1,363
Equity securities without a readily determinable fair value, at cost		3,666			3,666
Debt securities, available-for-sale, at fair value		255,891			258,327
Debt securities, held-to-maturity, at cost, net of allowance for credit losses of $5 at March 31, 2025 and December 31, 2024		17,585			16,324
Federal Reserve Bank stock, at cost		6,405			6,405
Federal Home Loan Bank stock, at cost		20,710			20,710
Loans held for sale		6,098			5,556
Loans, net of allowance for credit losses of $12,124 and $12,001 at March 31, 2025 and December 31, 2024, respectively		1,705,506			1,709,811
Premises and equipment, net		39,972			41,049
Operating lease right-of-use assets		5,935			5,785
Goodwill		90,310			90,310
Core deposit and other intangibles, net		10,616			11,104
Bank-owned life insurance		54,348			54,002
Interest receivable		9,013			8,701
Other assets, net		37,383			38,287
TOTAL ASSETS	$	2,302,745			2,307,394

LIABILITIES:
Deposits:
Noninterest-bearing	$	464,059			459,619
Interest-bearing		1,457,590			1,418,673
Total deposits		1,921,649			1,878,292
Short-term borrowings		—			—
Long-term debt		104,637			155,153
Operating lease liabilities		6,299			6,115
Accrued interest and other liabilities		11,509			14,798
TOTAL LIABILITIES		2,044,094			2,054,358

COMMITMENTS AND CONTINGENT LIABILITIES		—			—

SHAREHOLDERS' EQUITY:
Preferred shares – no par value, authorized 1,000,000 shares, none outstanding		—			—
Common shares – no par value; authorized 19,000,000 shares; issued 17,378,298 and 17,329,423 shares at March 31, 2025 and December 31, 2024, respectively; outstanding 14,166,915 and 14,118,040 shares at March 31, 2025 and December 31, 2024, respectively		187,369			186,937
Retained earnings		142,811			141,290
Treasury shares at cost, 3,211,383 shares at March 31, 2025 and December 31, 2024		(56,002	)		(56,002	)
Accumulated other comprehensive loss, net of taxes		(15,527	)		(19,189	)
TOTAL SHAREHOLDERS' EQUITY		258,651			253,036
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	2,302,745			2,307,394

Exhibit 99.2
LCNB CORP. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)

	Three Months Ended
	March 31,
	2025		2024
INTEREST INCOME:
Interest and fees on loans	$	23,181		22,682
Dividends on equity securities:
With a readily determinable fair value		10		9
Without a readily determinable fair value		29		31
Interest on debt securities:
Taxable		1,256		1,232
Non-taxable		146		143
Other investments		694		661
TOTAL INTEREST INCOME		25,316		24,758

INTEREST EXPENSE:
Interest on deposits		7,559		8,190
Interest on short-term borrowings		1		935
Interest on long-term debt		1,457		1,738
TOTAL INTEREST EXPENSE		9,017		10,863
NET INTEREST INCOME		16,299		13,895

PROVISION FOR CREDIT LOSSES		197		125
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		16,102		13,770

NON-INTEREST INCOME:
Fiduciary income		2,164		1,973
Service charges and fees on deposit accounts		1,766		1,384
Net losses from sales of debt securities, available-for-sale		—		(214	)
Bank-owned life insurance income		346		318
Net gains from sales of loans		841		522
Net other operating income		105		(54	)
TOTAL NON-INTEREST INCOME		5,222		3,929

NON-INTEREST EXPENSE:
Salaries and employee benefits		9,172		8,554
Equipment expenses		382		390
Occupancy expense, net		1,010		1,005
State financial institutions tax		453		428
Marketing		315		174
Amortization of intangibles		297		236
FDIC insurance premiums, net		410		504
Contracted services		870		784
Merger-related expenses		—		775
Other non-interest expense		2,900		2,622
TOTAL NON-INTEREST EXPENSE		15,809		15,472
INCOME BEFORE INCOME TAXES		5,515		2,227
PROVISION FOR INCOME TAXES		906		312
NET INCOME	$	4,609		1,915

Earnings per common share:
Basic		0.33		0.15
Diluted		0.33		0.15
Weighted average common shares outstanding:
Basic		14,051,310		13,112,302
Diluted		14,051,310		13,112,302

View source version on businesswire.com: https://www.businesswire.com/news/home/20250422264547/en/

Company Contact:

Eric J. Meilstrup

President and Chief Executive Officer

LCNB National Bank

(513) 932-1414

shareholderrelations@lcnb.com

Investor and Media Contact:

Andrew M. Berger

Managing Director

SM Berger & Company, Inc.

(216) 464-6400

andrew@smberger.com

LCNB Corp. Reports Financial Results for the Three Months Ended March 31, 2025