LCNB (LCNB) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $4.4 million, down from $4.6 million in Q1 2025, with EPS of $0.31 versus $0.33 year-over-year.

• Net interest margin rose 58 basis points year-over-year to 3.83%, driving record net interest income of $18.8 million, up 15.6% year-over-year.

• Pre-tax, pre-provision net income increased 34.1% year-over-year to $7.7 million.

• Wealth Management assets reached a record $1.57 billion, up 12.5% year-over-year, generating $2.5 million in fiduciary income.

• Non-interest income declined to $4.7 million from $5.2 million, mainly due to lower gains on loan sales and service charges.

Financial highlights

• Net interest income for Q1 2026 was $18.8 million, compared to $16.3 million in Q1 2025.

• Non-interest expense was $15.9 million, up slightly from $15.8 million, driven by higher salaries, benefits, and IT costs.

• Provision for credit losses increased to $2.3 million from $197 thousand, reflecting higher provisions for two logistics loans.

• Net charge-offs were $2.7 million (0.65% of average loans), up from $39 thousand (0.01%) in Q1 2025, primarily due to two logistics sector loans.

• Shareholders’ equity increased to $275.8 million from $273.9 million at year-end 2025.

Outlook and guidance

• Management expects continued focus on asset quality, prudent credit risk management, and disciplined growth amid ongoing economic and geopolitical uncertainties.

• Interest rate risk remains a key focus, with asset/liability management strategies in place to mitigate earnings volatility.

• Wealth Management is expected to benefit from organic growth and cross-selling.