LCNB Q3 Net Income Rises 5.4% to $7.3M, EPS $0.51; NIM Expands to 3.92%
LCNB sits 30% above its 52-week low of $14.42.
Summary
LCNB earned $7.3 million ($0.51 per share) in Q3 2026, up 5.4% year-over-year, as net interest margin expanded to 3.92%. Credit costs rose sharply — nine-month charge-offs of $3.5 million versus $287,000 a year ago — and nonperforming loans doubled to $4.1 million.
Key Events · Earnings and Guidance · LCNB
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Q3 Profit Up 5.4% to $7.3M
Net income of $7.31 million, or $0.51 per diluted share, versus $6.94 million and $0.49 a year ago; nine-month net income $19.2 million ($1.35 per share) versus $17.5 million ($1.23).
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Net Interest Margin Expands to 3.92%
Tax-equivalent NIM rose 35 basis points year-over-year from 3.57%, lifting nine-month net interest income 8.6% to $58.3 million; management cites a 108-basis-point margin gain over two years.
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Credit Costs Climb Sharply
Nine-month provision for credit losses was $3.1 million versus $426,000 a year ago, with net charge-offs of $3.5 million (0.27% of average loans) versus $287,000 (0.02%); nonperforming loans doubled to $4.1 million, or 0.24% of total loans.
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$25M Subordinated Debt Completed
The quarter included LCNB's first $25 million subordinated debt offering, carried at $24.4 million net with a 7.11% cost; long-term debt fell to $70.0 million from $104.4 million at year-end 2025.
Analysis · LCNB · Finance
LCNB's Q3 profit grew 5.4% year-over-year to $7.3 million, or $0.51 per diluted share, with return on average assets of 1.29%. The bigger story is margin: tax-equivalent net interest margin reached 3.92%, up 35 basis points from a year ago and 108 basis points above Q3 2024, as deposit costs fell and the bank refinanced expensive debt. That margin recovery is what drove nine-month net interest income up 8.6% to $58.3 million. Against that, credit quality is the watch item: nine-month net charge-offs jumped to $3.5 million (0.27% of average loans) from $287,000 a year ago, and nonperforming loans doubled to $4.1 million (0.24% of loans), driven by one commercial real estate loan and a participated credit. The quarter also marks the first full contribution from the $25 million subordinated debt offering completed in the period, which added $24.4 million of capital at a 7.11% cost and lifted the equity base to $282.2 million. Tangible book value per share rose 7.2% to $13.02. The results support the dividend ($0.22 per quarter, 43% payout) but the rising charge-off trend and the deposit base that would have shrunk 0.9% without a one-time $50 million public-funds deposit are the items that will shape the next few quarters.
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At the time of this filing, LCNB was trading at $18.79 on NASDAQ in the Finance sector, with a market capitalization of approximately $267.9M. The 52-week trading range was $14.42 to $21.32. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.