Net interest income for the three months ended March 31, 2018 was $201,000 greater than the comparable period in 2017, primarily due to growth in LCNB
's loan portfolio, partially offset by a decrease in average investment securities and a market-driven increase in average rates paid on deposits and short-term borrowings.
Meilstrup succeeds Steve P Foster, who will retire as CEO of LCNB
Corp and LCNB
National Bank, effective from the same date.
Based on the LCNB
closing share price as of December 20, 2017, the transaction is valued at USD 41.00 for each Columbus First share.
BNBK shareholders received 2.005 shares of LCNB
common stock and cash in the amount of USD 15.75 per share for each share of BNBK common stock for a total value of USD 45.00 per share or approximately USD 12.6m in aggregate.
A financial holding company, LCNB
is the parent of LCNB
National Bank which is FDIC insured and has 35 offices in Ohio, USA.
Following the transaction, the company merged into LCNB
The board of directors of LCNB
Corp (NASDAQ: LCNB
) approved a common stock dividend of USD0.17 per share for the second quarter of 2019, the company reported on Tuesday.
Headquartered in Lebanon, Ohio, LCNB
Corp is a financial holding company and parent company for LCNB
National Bank, an FDIC insured bank.