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Stock impact report

LCNB Corp. Reports Financial Results for the Three Months Ended March 31, 2020

LCNB Corporation (LCNB) 
Last lcnb corporation earnings: 4/20 06:23 pm Check Earnings Report
US:NASDAQ Investor Relations: lcnb.com/investor-relations
Company Research Source: Business Wire
LEBANON, Ohio--(BUSINESS WIRE)--LCNB Corp. ("LCNB") (NASDAQ: LCNB) today announced net income of $5,026,000 (total basic and diluted earnings per share of $0.39) for the three months ended March 31, 2020. This compares to net income of $4,627,000 (total basic and diluted earnings per share of $0.35) for the same three month period in 2019.Commenting on the financial results, LCNB President and Chief Executive Officer Eric Meilstrup said, "The first quarter of 2020 has brought unique and unprecedented circumstances and challenges to everyone. Despite these challenges, LCNB performed well during the quarter. Even with a $1,173,000 provision for loan losses, LCNB achieved a 1.23% return on average assets and an 8.75% return on average equity."Net interest income for the three months ended March 31, 2020 was $787,000 greater than the comparable period in 2019, due primarily to growth in the average balance of LCNB's loan portfolio and to an increase in the average rate earned on that Show less Read more
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