Slide 1: Strategic Acquisition of Cincinnati Bancorp, Inc.
LCNB Operations Center, Lebanon OH Investor Presentation May 18, 2023 NASDAQ: LCNB Strategic Acquisition of Cincinnati Bancorp, Inc.
Slide 2: Forward Looking Statements
Forward Looking This presentation, as well as other written or oral communications made from time to time by us, contains certain forward-looking information within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements relate to
Slide 3: Transaction Highlights
Strong Strategic Fit Transaction Highlights A strategic acquisition creating the leading community banking institution in Greater Cincinnati Financially Compelling Culturally Aligned ▪ Expands LCNB’s branch footprint into Cincinnati and Northern Kentucky ▪ Adds dedicated and experienced personnel th
Slide 4: Cincinnati Bancorp, Inc. Overview
102,851 317,205 296,393 169,889 2019 2020 2021 2022 Portfolio Sold 22,429 31,430 47,473 31,940 2019 2020 2021 2022 Strategic Acquisition of Cincinnati Bancorp, Inc. LCNB has grown to become one of the largest community banks in Ohio L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I
Slide 5: Expands Presence in Greater Cincinnati
Expands Presence in Greater Cincinnati Operating in robust, growing Ohio markets and making a formal leap into Northern Kentucky L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I N C I N N A T I B A N C O R P , I N C . P A G E 5 Cincinnati Counties Dayton Counties Columbus Counties
Slide 6: Financially Compelling Transaction
Financially Compelling Transaction Transaction provides an immediate benefit to LCNB with flexibility to the combined balance sheet L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I N C I N N A T I B A N C O R P , I N C . P A G E 6 Transaction Consideration ➢ $43.7 million in aggre
Slide 7: Pro Forma Financial Impact
Pro Forma Financial Impact Attractive pro forma financial metrics further enhancing shareholder value L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I N C I N N A T I B A N C O R P , I N C . P A G E 7 18.2% 2024 EPS Accretion Key Financial Metrics Key Financial Metrics – Excluding
Slide 8: Pro Forma Loan Composition
% of Total (%) 1-4 Family 453,022 27.3% MultiFamily & CRE 907,792 54.8% Consumer 29,015 1.8% Commercial 124,584 7.5% Construction 98,730 6.0% Farm & Ag. 44,476 2.7% Unearned Income & Other 131 0.0% Total Loans 1,657,750 100.0% MRQ Portfolio Yield 4.61% ($000s) Pro Forma% of Total (%) 1-4 Family 149,
Slide 9: Pro Forma Deposit Composition
% of Total (%) Transaction Accounts 345,760 18.9% MMDA + Savings 1,182,568 64.6% Retail Time (<$100K) 141,669 7.7% Jumbo Time (>$100K) 160,639 8.8% Total Deposits 1,830,636 100.0% MRQ Cost of Int-bearing Deposits 0.95% MRQ Cost of Funds 0.87% ($000s) Pro Forma% of Total (%) Transaction Accounts 46,5
Slide 10: Experienced Acquiror & Organic Growth Model
L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I N C I N N A T I B A N C O R P , I N C . P A G E 1 0 Experienced Acquiror & Organic Growth Model LCNB has a consistent track record of growing both organically and through strategic acquisition • Will have completed 5 bank acquisitio
Slide 11: Transaction Summary
Transaction Summary LCNB is focused on moving Further Together to create value for all the Company’s stakeholders L C N B C O R P . | S T R A T E G I C A C Q U I S I T I O N O F C I N C I N N A T I B A N C O R P , I N C . P A G E 1 1 ✓ Expands LCNB’s branch footprint into Cincinnati and Northern Ken
Slide 12: lcnbcorp.com LCNB National Bank | lcnb.com N. Broadway Lebanon, OH 45036 Member FDIC |
12 lcnbcorp.com NASDAQ: LCNB LCNB National Bank | lcnb.com 2 N. Broadway Lebanon, OH 45036 Member FDIC | Equal Housing Lender #furthertogether