The beat was modest (+2.7% on EPS) and driven by NIM expansion, not loan growth. Credit quality deterioration (NPLs doubling, charge-offs surging) is the key watch item — monitor the next quarter's provision and whether the sub-debt issuance signals an acquisition pipeline or capital relief need.
Price Chart
Executive Summary
LCNB Corp. reported Q3 2026 EPS of $0.51, beating consensus of $0.50 by 2.7%, with net income rising 5.4% YoY to $7.3 million. Net interest margin expanded 35 bps YoY to 3.92%, driven by lower funding costs, though credit costs rose sharply with $3.5M in net charge-offs YTD vs $0.3M a year ago, and nonperforming loans doubled to 0.24% of total loans.
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS $0.51 vs $0.49 YoY, a 4.1% increase
- Net interest income $19.7M, up 8.6% YoY from $18.1M
- Net interest margin (tax-equivalent) 3.92%, up 35 bps from 3.57%
- Provision for credit losses $453K vs $211K YoY; YTD provision $3.1M vs $426K
- Net charge-offs YTD $3.5M (0.27% of avg loans) vs $0.3M (0.02%) YoY
- Nonperforming loans $4.1M (0.24% of loans) vs $2.0M (0.12%) YoY
- Tangible book value per share $13.02, up 7.2% YoY
- Completed $25M subordinated debt offering during Q3
Financial Impact
Net income up 5.4% YoY to $7.3M; net interest margin expansion of 35 bps; credit costs elevated with YTD charge-offs 12x prior year
Risk Factors
- Credit quality deterioration: NPLs doubled YoY to $4.1M and YTD net charge-offs surged to $3.5M from $0.3M
- Deposit base showed weakness: excluding a $50M public funds deposit, total deposits declined ~0.9% YoY
- Non-interest income declined 6.4% YoY due to lower mortgage banking gains and service charges
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-032709 |
| Exhibit: ex_1016711.htm | 0001437749-26-032709 |
| Document: lcnb20260915_8k.htm | 0001437749-26-032709 |
| Document: 0001437749-26-032709-index-headers.html | 0001437749-26-032709 |
| Document: 0001437749-26-032709-index.html | 0001437749-26-032709 |
| Document: 0001437749-26-032709.txt | 0001437749-26-032709 |
| 8-K Data (Synthetic) | 0001437749-26-032709 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $18.88 | awaiting T+60 | — | $19.78 (+4.77%) |
Aug 19, 2026 9w ago | 8-K | $19.79 | awaiting T+60 | — | $19.78 (−0.05%) |
Aug 7, 2026 11w ago | 8-K | $19.58 | awaiting T+60 | — | $19.78 (+1.02%) |
Apr 22, 2026 26w ago | 8-K | $16.06 $19.81 | ▼ −23.35% | ▼ −18.33% | $19.78 (−23.16%) |
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