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PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | Condensed financial information for LCNB Corp., at the parent company level only, follows (in thousands):
Condensed Balance Sheets: |  |  |
December 31, | 2022 |  | 2021
Assets: |  |  |
Cash on deposit with subsidiary | $ | 916 |  |  | 657 |
Cash on deposit with unrelated depository institution | 620 |  |  | 451 |
Equity securities, at fair value | 1,024 |  |  | 1,156 |
Investment in subsidiaries | 215,222 |  |  | 236,401 |
Other assets | 59 |  |  | 180 |
Total assets | $ | 217,841 |  |  | 238,845 |
Liabilities: |  |  |
Short-term borrowings | $ | 3,000 |  |  | — |
Long-term debt | 14,072 |  |  | — |
Other liabilities | 94 |  |  | 241 |
Total liabilities | 17,166 |  |  | 241 |
Shareholders' equity | 200,675 |  |  | 238,604 |
Total liabilities and shareholders' equity | $ | 217,841 |  |  | 238,845 |
Condensed Statements of Income |
Condensed Statements of Income |  |  |  |  |
Year ended December 31, | 2022 |  | 2021 |  | 2020
Income: |  |  |  |  |
Dividends from subsidiaries | $ | 17,850 |  |  | 15,820 |  |  | 12,070 |
Interest and dividends | 35 |  |  | 34 |  |  | 29 |
Other income (loss), net | (123) |  |  | 155 |  |  | 147 |
Total income | 17,762 |  |  | 16,009 |  |  | 12,246 |
Total expenses | 3,305 |  |  | 1,764 |  |  | 1,326 |
Income before income tax benefit and equity in undistributed income of subsidiaries | 14,457 |  |  | 14,245 |  |  | 10,920 |
Income tax benefit | (705) |  |  | (333) |  |  | (404) |
Equity in undistributed income of subsidiaries | 6,966 |  |  | 6,396 |  |  | 8,751 |
Net income | $ | 22,128 |  |  | 20,974 |  |  | 20,075 |
Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |  |  |  |  |
Year ended December 31, | 2022 |  | 2021 |  | 2020
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 22,128 |  |  | 20,974 |  |  | 20,075 |
Adjustments for non-cash items - |  |  |  |  |
Increase in undistributed income of subsidiaries | (6,966) |  |  | (6,396) |  |  | (8,751) |
Other, net | 636 |  |  | 299 |  |  | (88) |
Net cash flows provided by operating activities | 15,798 |  |  | 14,877 |  |  | 11,236 |
Cash flows from investing activities: |  |  |  |  |
Purchases of equity securities | — |  |  | — |  |  | (346) |
Proceeds from sales of equity securities | — |  |  | — |  |  | 463 |
Net cash flows provided by (used in) investing activities | — |  |  | — |  |  | 117 |
Cash flows from financing activities: |  |  |  |  |
Net increase in short-term borrowings | 3,000 |  |  | — |  |  | — |
Proceeds from long-term debt | 15,000 |  |  | — |  |  | — |
Principal payments on long-term debt | (928) |  |  | — |  |  | — |
Proceeds from issuance of common stock | 409 |  |  | 434 |  |  | 401 |
Payments to repurchase common stock | (23,660) |  |  | (8,310) |  |  | (1,872) |
Cash dividends paid on common stock | (9,191) |  |  | (9,720) |  |  | (9,448) |
Other | — |  |  | 4 |  |  | 114 |
Net cash flows used in financing activities | (15,370) |  |  | (17,592) |  |  | (10,805) |
Net change in cash | 428 |  |  | (2,715) |  |  | 548 |
Cash at beginning of year | 1,108 |  |  | 3,823 |  |  | 3,275 |
Cash at end of year | $ | 1,536 |  |  | 1,108 |  |  | 3,823 |

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