LCNB Corp. Reports Financial Results for the Three Months Ended March 31, 2026

Press Release LCNB Corp. Reports Financial Results for the Three Months Ended March 31, 2026 Company Release - 4/22/2026 First quarter 2026, net interest margin increased 58 basis points year-over-year to 3.83%, driving record quarterly net interest income of $18.8 million, a 15.6% year-over-year increase Pre-tax, pre-provision for credit losses net income for the first quarter of 2026 increased 34.1% year-over-year to $7.7 million Book value increased 6.0% year-over-year to $19.36 per share and tangible book value per share increased 10.7% year-over-year to $12.55 per share at March 31, 2026 LCNB Wealth Management assets increased 12.5% year-over-year to a record $1.57 billion at March 31, 2026, producing fiduciary income of $2.5 million for the 2026 first quarter LCNB Corp. ("LCNB") (NASDAQ: LCNB) today announced financial results for the three months ended March 31, 2026. Commenting on the financial results, LCNB Chief Executive Officer, Eric Meilstrup said, “LCNB achieved another solid quarter of higher core profitability and book value growth, highlighted by continued net interest margin expansion, disciplined expense management, and solid year-over-year growth at LCNB Wealth Management. As a result, pre-tax, pre-provision for credit losses income increased 34.1% year-over-year, underscoring the strength and consistency of our core earnings profile.” Mr. Meilstrup continued, “Provision expense increased during the quarter, primarily driven by higher provisions for two participated loans within the logistics industry. In addition, given increased macroeconomic uncertainty, we have maintained a higher allowance for credit losses, which totaled $13.4 million at March 31, 2026, compared to $12.1 million a year ago, despite a reduction in nonperforming loans. The provision for credit losses during the first quarter reduced after-tax earnings by $0.13 per diluted share. Certain segments of the logistics industry have experienced increased pressure across the broader economic environment, though LCNB’s exposure to that industry remains limited. Overall, our asset‑quality metrics compare favorably to peer, and nonperforming loans declined to 0.20% of total loans at March 31, 2026, from 0.28% a year earlier.” “While the economic environment has become more fluid, we believe 2026 will be another good year of high profitability. The mergers completed in recent years have delivered meaningful benefits to shareholders, continue to execute in line with expectations, and remain on track to generate tangible book value accretion. We expect LCNB Wealth Management to continue benefiting from organic growth and cross‑selling opportunities across our markets, and we remain focused on disciplined growth and investing in our physical and digital infrastructure to enhance the customer experience and support long‑term value creation,” concluded Mr. Meilstrup. Income Statement Net income for the 2026 first quarter was $4.4 million, compared to $4.6 million for the same period in 2025. Earnings per basic and diluted share for the 2026 first quarter were $0.31, compared to $0.33 for the same period in 2025. Net interest income for the three months ended March 31, 2026 was a record $18.8 million, compared to $16.3 million for the same period in 2025. The year-over-year growth in net interest income was primarily due to an increase in the average yield on earnings assets, a reduction in interest-bearing liabilities, and a decrease in the average rate paid on interest-bearing liabilities. For the 2026 first quarter, LCNB’s tax equivalent net interest margin was 3.83%, compared to 3.25% for the same period in 2025. Non-interest income for the three months ended March 31, 2026 was $4.7 million, compared to $5.2 million for the same period in 2025. The 10.1% year-over-year decrease was primarily due to a $0.6 million reduction in net gains from sales of loans and lower service charges and fees on deposit accounts, partially offset by $0.4 million of higher fiduciary income. Non-interest expense for the three months ended March 31, 2026 was $15.9 million, compared to $15.8 million for the same period in 2025. The $0.1 million increase was primarily due to higher salaries and employee benefits, computer maintenance and supplies, and contracted services expenses, partially offset by lower net FDIC insurance premiums and other non-interest expenses. Capital Allocation For the three months ended March 31, 2026, LCNB paid $0.22 per share in dividends. Balance Sheet Total assets at March 31, 2026 decreased 2.8%, to $2.24 billion, from $2.30 billion at March 31, 2025. Net loans at March 31, 2026 were $1.68 billion, a decrease of 1.2%, or $21.2 million, from March 31, 2025. During the quarter ended March 31, 2026, the Company originated $87.8 million in loans and sold $10.8 million into the secondary market, which contributed $200,000 of gains to first quarter non-interest income, compared to $84.9 million in loans originated and $21.5 million of loans sold into the secondary market last year, which generated $841,000 of gains and benefited first quarter 2025 non-interest income. Loans held for sale totaled $3.4 million at March 31, 2026, compared to $6.1 million at March 31, 2025, and were primarily composed of loans scheduled to be sold to an investor. Total deposits at March 31, 2026 decreased 4.3%, to $1.84 billion, compared to $1.92 billion at March 31, 2025. The change includes modest growth in noninterest‑bearing demand deposit accounts, and the decline in interest‑bearing balances reflects the strategic runoff of higher‑cost certificates of deposit and IRA balances as part of the Company’s funding optimization strategy. At March 31, 2026, shareholders' equity was $275.8 million, compared to $258.7 million at March 31, 2025. On a per-share basis, shareholders' equity at March 31, 2026 was $19.36, compared to $18.26 at March 31, 2025. At March 31, 2026, tangible shareholders' equity was $178.8 million, compared to $160.6 million at March 31, 2025. The 11.3% year-over-year increase in tangible shareholders' equity was primarily from higher retained earnings and an improvement in the unrealized losses on the available-for-sale investment portfolio. On a per-share basis, tangible shareholders' equity was $12.55 at March 31, 2026, compared to $11.34 at March 31, 2025. Assets Under Management Total assets managed at March 31, 2026, were $4.18 billion, compared to $4.16 billion at March 31, 2025. The year-over-year increase in total assets managed was due to an increase in the fair value of trust and investments and investment services partially offset by lower LCNB total assets, mortgage loans serviced and cash management. Trust and investments and brokerage accounts increased due to a higher number of new LCNB Wealth Management customer accounts and an increase in the fair value of managed assets. Asset Quality For the 2026 first quarter, LCNB recorded a provision for credit losses of $2.3 million, compared to a provision for credit losses of $197,000 for the 2025 first quarter. Net charge-offs for the 2026 first quarter were $2.7 million, or 0.65% of average loans, compared to net charge-offs of $39,000, or 0.01% of average loans, annualized, for the same period in 2025. Net charge‑offs during the first quarter of 2026 primarily reflected the resolution of two unrelated credits within the logistics sector, an industry that has experienced elevated stress in recent periods across the broader economy. One of these loans, which carried a specific reserve of approximately $1.4 million at December 31, 2025, was charged off during the quarter with no additional impact to earnings, consistent with the Company’s prior disclosures. In addition, the Company recognized a charge‑off of approximately $1.3 million related to a separate logistics‑sector borrower following adverse developments subsequent to year‑end. While these charge‑offs occurred within the logistics sector, the Company’s overall exposure to that industry remains limited. Moreover, changes in the allowance for credit losses during the quarter were not solely attributable to logistics‑related borrowers, but also reflected increased reserves and specific impairments for certain commercial and industrial borrowers in other industries impacted by continued global trade uncertainty and geopolitical conditions. Total nonperforming loans, which include nonaccrual loans and loans past due 90 days or more and still accruing interest, were $3.36 million, or 0.20% of total loans, at March 31, 2026, compared to $4.9 million, or 0.28% of total loans, at March 31, 2025. The year‑over‑year decrease in nonperforming loans was primarily attributable to the disposition of one commercial real estate loan. The nonperforming assets to total assets ratio was 0.15% at March 31, 2026, compared to 0.21% at March 31, 2025. About LCNB Corp. LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the “Bank”), it serves customers and communities in Southwest and South-Central Ohio. A financial institution with a long tradition for building strong relationships with customers and communities, the Bank offers convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank continually strives to exceed customer expectations and provides an array of services for all personal and business banking needs including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. LCNB Corp. common shares are traded on the NASDAQ Capital Market Exchange® under the symbol “LCNB.” Learn more about LCNB Corp. at www.lcnb.com Forward-Looking Statements Certain statements made in this news release regarding LCNB’s financial condition, results of operations, plans, objectives, future performance and business, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by the fact they are not historical facts and include words such as “anticipate”, “could”, “may”, “feel”, “expect”, “believe”, “plan”, and similar expressions. Please refer to LCNB’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as its other filings with the SEC, for a more detailed discussion of risks, uncertainties and factors that could cause actual results to differ from those discussed in the forward-looking statements. These forward-looking statements reflect management's current expectations based on all information available to management and its knowledge of LCNB’s business and operations. Additionally, LCNB’s financial condition, results of operations, plans, objectives, future performance and business are subject to risks and uncertainties that may cause actual results to differ materially. These factors include, but are not limited to: 1. the success, impact, and timing of the implementation of LCNB’s business strategies; 2. LCNB’s ability to integrate recent and future acquisitions may be unsuccessful or may be more difficult, time-consuming, or costly than expected; 3. LCNB may incur increased loan charge-offs in the future and the allowance for credit losses may be inadequate; 4. LCNB may face competitive loss of customers to both bank and nonbank financial institutions; 5. changes in the interest rate environment, either by interest rate increases or decreases, may have results on LCNB’s operations materially different from those anticipated by LCNB’s market risk management functions; 6. changes in general economic conditions, including the potential economic impacts of a prolonged U.S. government shutdown and increased competition could adversely affect LCNB’s operating results; 7. changes in or instability regarding regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact LCNB’s operating results; 8. LCNB may experience difficulties growing loan and deposit balances; 9. United States trade relations with foreign countries could negatively impact the financial condition of LCNB's customers, which could adversely affect LCNB's operating results and financial condition; 10. global and/or geopolitical relations and/or conflicts could create financial market uncertainty and have negative impacts on commodities, currency, and stability, which could adversely affect LCNB's operating results and financial condition; 11. difficulties with technology or data security breaches, including cyberattacks or widespread outages, could negatively affect LCNB's ability to conduct business and its relationships with customers, vendors, and others; 12. adverse weather events and natural disasters and global and/or national epidemics could negatively affect LCNB’s customers given its concentrated geographic scope, which could impact LCNB’s operating results; and 13. government intervention in the U.S. financial system, including the effects of legislative, tax, accounting, and regulatory actions and reforms, including, the Jumpstart Our Business Startups Act, the Consumer Financial Protection Bureau, the capital ratios of Basel III as adopted by the federal banking authorities, changes in deposit insurance premium levels, and any such future regulatory actions or reforms. Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist shareholders and potential investors in understanding current and anticipated financial operations of LCNB and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. LCNB undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made. LCNB Corp. and Subsidiaries Financial Highlights (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Condensed Income Statement Interest income $ 25,430 25,187 26,305 25,939 25,316 Interest expense 6,583 6,931 8,179 8,398 9,017 Net interest income 18,847 18,256 18,126 17,541 16,299 Provision for credit losses 2,339 1,510 211 18 197 Net interest income after provision for credit losses 16,508 16,746 17,915 17,523 16,102 Non-interest income 4,693 5,601 5,704 5,248 5,222 Non-interest expense 15,880 15,388 15,145 15,567 15,809 Income before income taxes 5,321 6,959 8,474 7,204 5,515 Provision for income taxes 877 1,303 1,538 1,285 906 Net income $ 4,444 5,656 6,936 5,919 4,609 Supplemental Income Statement Information Accretion income on acquired loans $ 659 816 904 1,174 692 Amortization expenses on acquired interest-bearing liabilities — — — — — Tax-equivalent net interest income 18,886 18,297 18,169 17,584 16,338 Pre-provision, pre-tax net income 7,660 8,469 8,685 7,222 5,712 Per Share Data Dividends per share $ 0.22 0.22 0.22 0.22 0.22 Basic earnings per common share $ 0.31 0.40 0.49 0.41 0.33 Diluted earnings per common share $ 0.31 0.40 0.49 0.41 0.33 Book value per share $ 19.36 19.30 19.02 18.59 18.26 Tangible book value per share $ 12.55 12.45 12.15 11.69 11.34 Weighted average common shares outstanding: Basic 14,125,191 14,106,778 14,097,414 14,085,764 14,051,310 Diluted 14,125,191 14,106,778 14,097,414 14,085,764 14,051,310 Shares outstanding at period end 14,245,849 14,193,577 14,186,204 14,175,241 14,166,915 Selected Financial Ratios Return on average assets 0.80 % 1.01 % 1.21 % 1.04 % 0.81 % Return on average equity 6.52 % 8.22 % 10.33 % 9.09 % 7.33 % Return on average tangible common equity 10.06 % 12.78 % 16.29 % 14.54 % 11.91 % Dividend payout ratio 70.97 % 55.00 % 44.90 % 53.66 % 66.67 % Net interest margin (tax equivalent) 3.83 % 3.69 % 3.57 % 3.47 % 3.25 % Efficiency ratio (tax equivalent) 67.35 % 64.39 % 63.44 % 68.18 % 73.33 % Selected Balance Sheet Items Cash and cash equivalents $ 29,181 21,614 35,865 49,778 37,670 Debt and equity securities 276,913 280,565 292,604 302,935 305,644 Loans: Commercial and industrial $ 100,477 104,013 107,925 110,528 112,580 Commercial, secured by real estate 1,090,718 1,100,203 1,083,748 1,110,875 1,110,276 Residential real estate 476,863 469,574 454,918 459,473 463,379 Consumer 15,834 16,928 17,748 18,452 19,030 Agricultural 14,561 15,666 15,262 14,413 13,161 Other, including deposit overdrafts 273 210 267 171 133 Deferred net origination fees (1,052 ) (1,063 ) (840 ) (902 ) (929 ) Loans, gross 1,697,674 1,705,531 1,679,028 1,713,010 1,717,630 Less allowance for credit losses 13,372 13,704 12,170 12,108 12,124 Loans, net $ 1,684,302 1,691,827 1,666,858 1,700,902 1,705,506 Loans held for sale $ 3,438 1,718 4,018 6,026 6,098 Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Selected Balance Sheet Items, continued Allowance for Credit Losses on Loans: Allowance for credit losses, beginning of period $ 13,704 12,170 12,108 12,124 12,001 Provision for credit losses on loans 2,398 1,520 231 63 162 Losses charged off (2,766 ) (67 ) (193 ) (95 ) (53 ) Recoveries 36 81 24 16 14 Allowance for credit losses, end of period $ 13,372 13,704 12,170 12,108 12,124 Total earning assets $ 1,986,777 1,993,785 1,983,606 2,034,540 2,038,666 Goodwill 90,310 90,310 90,310 90,310 90,310 Core deposit intangibles 6,705 6,931 7,161 7,408 7,708 Mortgage servicing rights 2,188 2,340 2,519 2,698 2,908 Other non-earning assets 151,856 147,403 160,769 172,844 163,153 Total non-earning assets 251,059 246,984 260,759 273,260 264,079 Total assets 2,237,836 2,240,769 2,244,365 2,307,800 2,302,745 Total deposits 1,838,793 1,840,355 1,849,082 1,919,372 1,921,649 Long-term debt 104,133 104,428 104,717 105,000 104,637 Total shareholders’ equity 275,816 273,929 269,870 263,474 258,651 Equity to assets ratio 12.33 % 12.22 % 12.02 % 11.42 % 11.23 % Loans to deposits ratio 92.33 % 92.67 % 90.80 % 89.25 % 89.38 % Tangible common equity (TCE) $ 178,801 176,689 172,399 165,756 160,633 Tangible common assets (TCA) 2,140,821 2,143,529 2,146,894 2,210,082 2,204,727 TCE/TCA 8.35 % 8.24 % 8.03 % 7.50 % 7.29 % Selected Average Balance Sheet Items Cash and cash equivalents $ 35,116 29,395 38,466 34,256 36,125 Debt and equity securities 278,950 285,810 298,341 302,475 304,033 Loans, including loans held for sale $ 1,707,948 1,675,449 1,706,281 1,718,959 1,721,894 Less allowance for credit losses on loans 12,812 12,186 12,099 12,117 11,996 Net loans $ 1,695,136 1,663,263 1,694,182 1,706,842 1,709,898 Total earning assets $ 2,000,595 1,968,188 2,017,294 2,031,261 2,036,514 Goodwill 90,310 90,310 90,310 90,310 90,310 Core deposit intangibles 6,816 7,043 7,275 7,555 7,854 Mortgage servicing rights 2,340 2,520 2,699 2,908 3,099 Other non-earning assets 153,437 153,528 159,328 158,251 160,281 Total non-earning assets 252,903 253,401 259,612 259,024 261,544 Total assets 2,253,498 2,221,589 2,276,906 2,290,285 2,298,058 Total deposits 1,846,345 1,822,412 1,884,748 1,906,305 1,896,443 Short-term borrowings 4,795 — 52 63 72 Long-term debt 104,376 104,664 104,951 104,701 127,289 Total shareholders’ equity 276,362 272,856 266,489 261,193 255,120 Equity to assets ratio 12.26 % 12.28 % 11.70 % 11.40 % 11.10 % Loans to deposits ratio 92.50 % 91.94 % 90.53 % 90.17 % 90.80 % Asset Quality Net charge-offs (recoveries) $ 2,730 (14 ) 169 79 39 Other real estate owned — — — — — Non-accrual loans $ 3,227 1,794 1,793 4,500 4,710 Loans past due 90 days or more and still accruing 136 530 163 271 181 Total nonperforming loans $ 3,363 2,324 1,956 4,771 4,891 Net charge-offs to average loans 0.65 % 0.00 % 0.04 % 0.02 % 0.01 % Allowance for credit losses on loans to total loans 0.79 % 0.80 % 0.72 % 0.71 % 0.71 % Nonperforming loans to total loans 0.20 % 0.14 % 0.12 % 0.28 % 0.28 % Nonperforming assets to total assets 0.15 % 0.10 % 0.09 % 0.21 % 0.21 % Three Months Ended 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Assets Under Management LCNB Corp. total assets $ 2,237,836 2,240,769 2,244,365 2,307,800 2,302,745 Trust and investments (fair value) 1,081,558 1,053,887 1,041,270 990,699 957,359 Mortgage loans serviced 325,133 333,518 341,548 348,003 354,593 Cash management 39,979 10,935 73,002 62,737 100,830 Investment services (fair value) 491,890 504,123 494,947 466,299 441,621 Total assets managed $ 4,176,396 4,143,232 4,195,132 4,175,538 4,157,148 Three Months Ended March 31, 2026 2025 Average Interest Average Average Interest Average Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Balance Paid Rate Balance Paid Rate Loans (1) $ 1,707,948 23,433 5.56 % 1,721,894 23,181 5.46 % Interest-bearing demand deposits 10,987 107 3.95 % 10,337 130 5.10 % Interest-bearing time deposits 2,710 25 3.74 % 250 — — % Federal Reserve Bank stock 6,405 94 5.95 % 6,405 95 6.02 % Federal Home Loan Bank stock 20,710 392 7.68 % 20,710 469 9.18 % Investment securities: Equity securities 5,104 37 2.94 % 5,043 39 3.14 % Debt securities, taxable 230,649 1,196 2.10 % 254,715 1,256 2.00 % Debt securities, non-taxable(2) 16,082 185 4.67 % 17,160 185 4.37 % Total earnings assets 2,000,595 25,469 5.16 % 2,036,514 25,355 5.05 % Non-earning assets 265,726 273,545 Allowance for credit losses (12,823 ) (12,001 ) Total assets $ 2,253,498 2,298,058 Interest-bearing demand and money market deposits $ 682,183 2,465 1.47 % 570,473 2,337 1.66 % Savings deposits 356,622 207 0.24 % 365,876 195 0.22 % IRA and time certificates 343,061 2,609 3.08 % 497,178 5,027 4.10 % Short-term borrowings 4,795 46 3.89 % 72 1 5.63 % Long-term debt 104,376 1,256 4.88 % 127,289 1,457 4.64 % Total interest-bearing liabilities 1,491,037 6,583 1.79 % 1,560,888 9,017 2.34 % Demand deposits 464,479 462,916 Other liabilities 21,620 19,134 Equity 276,362 255,120 Total liabilities and equity $ 2,253,498 2,298,058 Net interest rate spread(3) 3.37 % 2.71 % Net interest income and net interest margin on a taxable-equivalent basis(4) 18,886 3.83 % 16,338 3.25 % Ratio of interest-earning assets to interest-bearing liabilities 134.17 % 130.47 % (1) Includes non-accrual loans and loans held for sale (2) Income from tax-exempt securities is included in interest income on a taxable-equivalent basis. Interest income has been divided by a factor comprised of the complement of the incremental tax rate of 21%. (3) The net interest spread is the difference between the average rate on total interest-earning assets and interest-bearing liabilities. (4) The net interest margin is the taxable-equivalent net interest income divided by average interest-earning assets. LCNB CORP. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited, dollars in thousands) March 31, 2026 December 31, 2025 Unaudited Audited ASSETS: Cash and due from banks $ 23,141 18,353 Interest-bearing demand deposits 6,040 3,261 Total cash and cash equivalents 29,181 21,614 Interest-bearing time deposits 2,712 2,710 Investment securities: Equity securities with a readily determinable fair value, at fair value 1,422 1,433 Equity securities without a readily determinable fair value, at cost 3,666 3,666 Debt securities, available-for-sale, at fair value 228,750 232,271 Debt securities, held-to-maturity, at cost, net of allowance for credit losses of $10 and $11 at March 31, 2026 and December 31, 2025, respectively 15,960 16,080 Federal Reserve Bank stock, at cost 6,405 6,405 Federal Home Loan Bank stock, at cost 20,710 20,710 Loans held-for-sale 3,438 1,718 Loans, net of allowance for credit losses of $13,372 and $13,704 at March 31, 2026 and December 31, 2025, respectively 1,684,302 1,691,827 Premises and equipment, net 38,965 39,196 Operating lease right-of-use assets 6,388 6,475 Goodwill 90,310 90,310 Core deposit and other intangibles, net 8,893 9,271 Bank-owned life insurance 55,783 55,424 Interest receivable 8,312 7,968 Other assets, net 32,639 33,691 TOTAL ASSETS $ 2,237,836 2,240,769 LIABILITIES: Deposits: Noninterest-bearing $ 469,767 466,094 Interest-bearing 1,369,026 1,374,261 Total deposits 1,838,793 1,840,355 Long-term debt 104,133 104,428 Operating lease liabilities 6,758 6,877 Accrued interest and other liabilities 12,336 15,180 TOTAL LIABILITIES 1,962,020 1,966,840 COMMITMENTS AND CONTINGENT LIABILITIES — — SHAREHOLDERS' EQUITY: Preferred shares – no par value, authorized 1,000,000 shares, none outstanding — — Common shares – no par value; authorized 19,000,000 shares; issued 17,462,306 and 17,409,085 shares at March 31, 2026 and December 31, 2025, respectively; outstanding 14,245,849 and 14,193,577 shares at March 31, 2026 and December 31, 2025, respectively 188,620 188,212 Retained earnings 153,250 151,938 Treasury shares at cost, 3,216,457 and 3,215,508 shares at March 31, 2026 and December 31, 2025, respectively (56,087 ) (56,071 ) Accumulated other comprehensive loss, net of taxes (9,967 ) (10,150 ) TOTAL SHAREHOLDERS' EQUITY 275,816 273,929 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 2,237,836 2,240,769 LCNB CORP. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Dollars in thousands, except per share data) (Unaudited) Three Months Ended March 31, 2026 2025 INTEREST INCOME: Interest and fees on loans $ 23,433 23,181 Dividends on equity securities: With a readily determinable fair value 11 10 Without a readily determinable fair value 26 29 Interest on debt securities: Taxable 1,196 1,256 Non-taxable 146 146 Other investments 618 694 TOTAL INTEREST INCOME 25,430 25,316 INTEREST EXPENSE: Interest on deposits 5,281 7,559 Interest on short-term borrowings 46 1 Interest on long-term debt 1,256 1,457 TOTAL INTEREST EXPENSE 6,583 9,017 NET INTEREST INCOME 18,847 16,299 PROVISION FOR CREDIT LOSSES 2,339 197 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 16,508 16,102 NON-INTEREST INCOME: Fiduciary income 2,539 2,164 Service charges and fees on deposit accounts 1,485 1,766 Bank-owned life insurance income 359 346 Net gains from sales of loans 200 841 Net other operating income 110 105 TOTAL NON-INTEREST INCOME 4,693 5,222 NON-INTEREST EXPENSE: Salaries and employee benefits 9,467 9,172 Equipment expenses 392 382 Occupancy expense, net 1,021 1,010 State financial institutions tax 447 453 Marketing 294 315 Amortization of intangibles 225 297 FDIC insurance premiums, net 275 410 Computer maintenance and supplies 405 380 Contracted services 979 870 Other non-interest expense 2,375 2,520 TOTAL NON-INTEREST EXPENSE 15,880 15,809 INCOME BEFORE INCOME TAXES 5,321 5,515 PROVISION FOR INCOME TAXES 877 906 NET INCOME $ 4,444 4,609 Earnings per common share: Basic 0.31 0.33 Diluted 0.31 0.33 Weighted average common shares outstanding: Basic 14,125,191 14,051,310 Diluted 14,125,191 14,051,310 Source: LCNB Corp.