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Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Common Share | EARNINGS PER COMMON SHARE LCNB has granted restricted stock awards with non-forfeitable dividend rights, which are considered participating securities. Accordingly, earnings per share is computed using the two-class method as required by ASC No. 260-10-45. Basic earnings per common share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per common share is adjusted for the dilutive effects of stock options, warrants, and restricted stock. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock options and warrants with proceeds used to purchase treasury shares at the average market price for the period. Earnings per share for the three and six months ended June 30, 2023 and 2022 were calculated as follows (dollars in thousands, except share and per share data):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net income | $ | 4,694 |  |  | 5,618 |  |  | 8,851 |  |  | 10,141 |
Less allocation of earnings and dividends to participating securities | 33 |  |  | 29 |  |  | 63 |  |  | 53 |
Net income allocated to common shareholders | $ | 4,661 |  |  | 5,589 |  |  | 8,788 |  |  | 10,088 |
Weighted average common shares outstanding, gross | 11,135,325 |  |  | 11,396,119 |  |  | 11,202,300 |  |  | 11,635,949 |
Less average participating securities | 79,017 |  |  | 58,314 |  |  | 79,929 |  |  | 59,076 |
Adjusted weighted average number of shares outstanding used in the calculation of basic and diluted earnings per common share | 11,056,308 |  |  | 11,337,805 |  |  | 11,122,371 |  |  | 11,576,873 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 0.42 |  |  | 0.49 |  |  | $ | 0.79 |  |  | 0.87 |
Diluted | 0.42 |  |  | 0.49 |  |  | 0.79 |  |  | 0.87 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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