Lcnb Corporation · NASDAQ:LCNB
Lcnb — Investor Presentation (August 2019)
17 slides from Lcnb's investor presentation, Aug 7, 2019
Slide 1: LCNB Investment Highlights August 2019
LCNB Investment Highlights August 2019
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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
Slide 3: Forward-Looking Statements
Forward-Looking Statements · timely development and acceptance of new banking products and services and perceived overall value of these products and services by users; · changes in consumer spending, borrowing and saving habits; · technological changes; · our ability to grow, increase market share
Slide 4: Overview: Stable & Attractive Markets
LCNB Investment Highlights – Overview Stable & Attractive StableMarkets & Attractive 140 year-old community bank located in attractive markets in southwestern Ohio and Columbus Markets with good demographics, stable home prices, and strong economic activity High and consistent profitability driv
Slide 5: Recent Events: Highlights of 2Q 2019
LCNB Investment Highlights – Recent Events Highlights of 2Q 2019 LCNB reported 2Q and YTD EPS of $0.36 and $0.71, respectively. Net interest income for 2Q and YTD was, respectively, $2,222,000 and $5,425,000 greater than the comparable periods in 2018. Quarterly ROAA and ROATCE remained strong
Slide 6: The Franchise
LCNB Investment Highlights – The Franchise $1.6 billion in assets and $1.4 billion in deposits, Branch Map headquartered in Lebanon, Ohio (Warren County) 36 branches in southwestern Ohio, primarily in and around the attractive Cincinnati MSA along with one new branch in the Columbus MSA 10th l
Slide 7: Management Team
LCNB Investment Highlights – Management Team Experienced management team with an average of 30 years of banking experience and many executives that have worked together for over 20 years Years of Name Experience Title Background Eric has been President of LCNB Corp. and LCNB National Bank since Pr
Slide 8: Financial Highlights
LCNB Investment Highlights Financial Highlights Calendar Year Ended LTM Quarter Ended 2014 2015 2016 2017 2018 6/19 9/18 12/18 3/19 6/19 Total Assets 1,108,066 1,280,531 1,306,799 1,295,638 1,636,927 1,642,012 1,620,299 1,636,927 1,632,387 1,642,012 Gross Loans 698,956 770,938 819,803 849,060 1,198,
Slide 9: Consistent Profitability
LCNB Investment Highlights – Consistent Profitability Consistent and Strong ROATCE LCNB has consistently delivered solid operating performance and profitability regardless of economic climate, as demonstrated in the chart below. LCNB has been at approximately an 11% return on average tangible comm
Slide 10: Deposits and Loans
LCNB Investment Highlights – Deposits and Loans Deposit Composition Loan Breakdown Construction Farm 5.9% 4.3% HELOC 2.8% Time > $100k 12.1% 1-4 Family C&I 24.2% 6.6% Time < $100k 12.6% Transaction 49.4% MMDA + Savings 25.9% Multifamily + CRE 56.2% MRQ Cost of Interest-bearing Deposits: 0.96% MRQ Yi
Slide 11: NCOs/Average Loans (%)
LCNB Investment Highlights NCOs/Average Loans (%) LCNB has achieved consistently strong profitability without reaching for growth or compromising its credit standards. On the contrary, LCNB’s intimate knowledge of its communities and its customers has resulted in minimal credit losses throughout a
Slide 12: Stable Common Dividends
LCNB Investment Highlights – Stable Common Dividends LCNB Common Dividend Payments Per Share LCNB has never decreased or suspended its dividend Since beginning dividend payments in 1998, LCNB has consistently maintained or increased its quarterly dividend LCNB shares currently yield 3.78% vers
Slide 13: Dividend Payout Ratio (%)
LCNB Investment Highlights Dividend Payout Ratio (%) In 13 of the last 15 years, LCNB has returned half or more of its net income to shareholders through dividends. Unlike many banks during the 2008 – 2011 period, LCNB never reduced its dividend and maintains a strong dividend payout ratio. In add
Slide 14: Liquidity
LCNB Investment Highlights Liquidity As LCNB has grown organically and through acquisitions, it has seen a significant increase in liquidity. 45,000 45,000 40,000 40,000 Three Month ADTV: 37,655 35,000 35,000 30,000 30,000 25,000 25,000 20,000 20,000 15,000 15,000 10,000 10,000 5,000 5,000 0 0 8/1
Slide 15: Ownership Profile
LCNB Investment Highlights Ownership Profile Top 20 - Stakeholder/Insider Ownership Information Top 20 - Institutional Ownership Information Holder % Owned Holder % Owned William G. Huddle 1.45 Vanguard Group Inc. 3.55 Michael J. Johrendt 1.15 BlackRock Inc. 3.53 John H. Kochensparger III 1.14 Casti
Slide 16: Ten Year Total Return (%)
LCNB Investment Highlights Ten Year Total Return (%) 300.00 250.00 200.00 178.0% 150.00 128.0% 100.00 50.00 0.00 -50.00 Jul-09 May-10 Mar-11 Jan-12 Nov-12 Sep-13 Jul-14 May-15 Mar-16 Jan-17 Nov-17 LCNB SNL U.S. Bank & Thrift Source: S&P Global Market Intelligence as of 8/1/19 15
Slide 17: Attractive Relative Valuation
LCNB Investment Highlights – Attractive Relative Valuation Selected Peer Midwest Bank Comparison (Sorted by Assets) Banks and thrifts headquartered in Ohio, Kentucky and Indiana with assets $1 billion - $3 billion, excluding merger targets Financials as of: 6/30/2019 Operating Information Market I