LCNB Corp (NASDAQ: LCNB) is a bank holding company that operates a community banking subsidiary serving retail and commercial customers across Ohio, Kentucky, and Indiana. It earns revenue primarily through net interest income on loans and deposits, with commercial and residential real estate loans forming the core of its lending portfolio. As of December 31, 2025, total assets were $2.24 billion and total deposits were $1.84 billion, with $466 million in non-interest-bearing deposits and $1.37 billion in interest-bearing deposits. The loan portfolio totaled $1.04 billion, concentrated in Franklin County, Ohio (28%), Hamilton County, Ohio (17%), and Montgomery County, Ohio (9%). LCNB has pursued growth through acquisitions, including mergers with Cincinnati Bancorp in 2023 and Eagle Financial Bancorp in 2023. CEO Eric J. Meilstrup and CFO Andrew M. Wallace signed the 10-K filed March 11, 2026, covering fiscal year ended December 31, 2025.

Revenue model

Net interest income from loans and investment securities funded by deposits and borrowings, supplemented by non-interest income from banking services. Lending products include commercial real estate, residential real estate, and lines of credit.

Products and services

Commercial and residential real estate loans, consumer loans, lines of credit ($225.8 million unused as of FY2025), commitments to extend credit ($36.4 million), deposit accounts (non-interest-bearing and interest-bearing), and investment securities (debt securities available-for-sale and held-to-maturity, equity securities).

Customers and end markets

Retail consumers and commercial borrowers in Ohio, Kentucky, and Indiana. End markets include residential real estate, commercial real estate, and consumer lending. No disclosed single customer concentration.

Value-chain role

Community bank and bank holding company. Accepts deposits and deploys capital into loans and investment securities. Subject to federal and state banking regulation including Truth in Lending Act, Equal Credit Opportunity Act, Real Estate Settlement Procedures Act, and Gramm-Leach-Bliley Act privacy requirements.

Geographic exposure

Primarily Ohio, with loan exposure concentrated in Franklin County (28%), Hamilton County (17%), Montgomery County (9%), Butler County (8%), and Warren County (8%) as of FY2025. Secondary exposure in Boone County and Kenton County, Kentucky, and Indiana.

Source: SEC 10-K, filed 2026-03-11

Industry: National Commercial Banks Peers: C&F Financial Corp California BanCorp GRANDSOUTH BANCORPORATION Bally's Corp MainStreet Bancshares Inc Meridian Corp Plumas Bancorp PNC Financial Services Group Inc Virginia National Bankshares Corp