LCNB (LCNB) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $6.9 million ($0.49 EPS), up from $4.5 million ($0.31 EPS) in Q3 2024; nine-month net income was $17.5 million ($1.23 EPS), up from $7.4 million ($0.53 EPS) year-over-year.

• Net interest margin expanded to 3.57% from 2.84% year-over-year, driven by lower funding costs and higher loan yields.

• Results benefited from lower interest expense, improved net interest margin, and reduced merger-related costs compared to 2024.

• The integration of Eagle Financial Bancorp, Inc. (EFBI) was finalized, expanding presence in Cincinnati and resulting in $12.1 million in goodwill.

• Book value per share increased to $19.02, and tangible book value per share to $12.15 at quarter-end.

Financial highlights

• Net interest income for Q3 2025 was $18.1 million, up from $15.0 million in Q3 2024; nine-month net interest income was $52.0 million, up from $44.1 million year-over-year.

• Non-interest income for Q3 2025 was $5.7 million, down from $6.4 million in Q3 2024; nine-month non-interest income was $16.2 million, up from $14.4 million year-over-year.

• Non-interest expense for Q3 2025 was $15.1 million, down from $15.4 million in Q3 2024; nine-month non-interest expense was $46.5 million, down from $48.7 million year-over-year.

• Provision for credit losses was $211 thousand for Q3 2025, down from $660 thousand in Q3 2024.

• Efficiency ratio improved to 63.44% in Q3 2025 from 71.83% in Q3 2024.

Outlook and guidance

• Management expects marketing expenses to normalize through the remainder of the year.

• No liquidity or operational problems anticipated; management believes the company can meet short- and long-term liquidity needs.

• Loan portfolio expected to return to growth in the first half of 2026, with a steady new loan pipeline and continued disciplined underwriting.

• Focus remains on investing in platform, talent, and capabilities to drive sustainable growth and long-term shareholder value.