LCNB 3Q Profit Edges Higher on Interest

LCNB Corp. (LCNB) revealed Thursday improved third-quarter earnings on climbing net interest income and declining market rates.

The Lebanon, Ohio-based company posted net income of $1.99 million, or 30 cents a share, compared with $1.84 million, or 27 cents a share, in the same quarter last year.

Loan charge-offs for the first nine months of the year were $1.69 million, much higher than $639,000 a year ago.

Despite the rise in write-offs, net interest income drove the quarter's earnings, up $69,000 from the prior year, due primarily to growth in interest-earnings assets and declining general market rates.

Non-interest income gained $141,000 on the year-earlier quarter due to higher sales of mortgage loans.

Expenses partially offset the financial holding company’s earnings for the period ended Sept. 30, up $668,000 from the prior year period, due to write-downs in real estate owned properties and higher salaries and employee benefits.

We are the Best share market tips and stock tips provider in India for Intraday trading of cash , Nifty future and Nifty Options.We give only sure shot tips so that you can trade with high volume