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Borrowings | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Borrowings | BORROWINGS Long-term debt at June 30, 2023 and December 31, 2022 was as follows (dollars in thousands):
| June 30, 2023 |  | December 31, 2022
| Amount |  | Rate |  | Amount |  | Rate
Term loan | $ | 13,122 |  |  | 4.25 | % |  | $ | 14,072 |  |  | 4.25 | %
FHLB long-term advances | 5,000 |  |  | 3.02 | % |  | 5,000 |  |  | 3.02 | %
| $ | 18,122 |  |  | 3.91 | % |  | $ | 19,072 |  |  | 3.93 | %
The term loan with a correspondent financial institution bears a fixed interest rate of 4.25%, amortizes quarterly, and has a final balloon payment due on June 15, 2025. The FHLB advances at June 30, 2023 and December 31, 2022 had interest rates of 3.02%. All advances from the FHLB of Cincinnati are secured by a blanket pledge of LCNB's 1-4 family first lien mortgage loans in the amount of approximately $276 million and $270 million at June 30, 2023 and December 31, 2022, respectively. Remaining borrowing capacity, including short-term borrowing arrangements, at June 30, 2023 was approximately $100.5 million. Contractual maturities of long-term debt at June 30, 2023 and December 31, 2022 were as follows ( in thousands):
| June 30, 2023 | December 31, 2022
One year | $ | 6,958 |  |  | 6,918 |
Two years | 11,164 |  |  | 2,001 |
Three years | — |  |  | 10,153 |
Total | $ | 18,122 |  |  | 19,072 |
Short-term borrowings at June 30, 2023 and December 31, 2022 were as follows (dollars in thousands):
| June 30, 2023 |  | December 31, 2022
| Amount |  | Rate |  | Amount |  | Rate
Revolving line of credit | $ | — |  |  | — | % |  | $ | 3,000 |  |  | 7.25 | %
Other lines of credit | 12,289 |  |  | 5.75 | % |  | 18,455 |  |  | 5.00 | %
FHLB short-term advances | 100,000 |  |  | 5.04 | % |  | 50,000 |  |  | 4.40 | %
| $ | 112,289 |  |  | 5.12 | % |  | $ | 71,455 |  |  | 4.67 | %
At June 30, 2023, LCNB Corp. had a short-term revolving line of credit arrangement with a financial institution for a maximum amount of $5 million at an interest rate equal to the Wall Street Journal Prime Rate minus 25 basis points. This agreement expires on June 15, 2024. At June 30, 2023, LCNB had short-term line of credit borrowing arrangement with two correspondent financial institutions. Under the terms of the first arrangement, LCNB can borrow up to $30 million at an interest rate equal to the lending institution’s federal funds rate plus a spread of 50 basis points. Approximately $12.3 million was outstanding under this arrangement at June 30, 2023. Under the terms of the second arrangement, LCNB can borrow up to $25 million at an interest rate equal to the FOMC rate plus a spread of 25 basis points. No borrowings were outstanding under this arrangement at June 30, 2023. At June 30, 2023, LCNB had two short-term borrowing arrangements with the FHLB of Cincinnati. Under the terms of a REPO-Based Advance program, LCNB can borrow up to $95.0 million in short-term advances, subject to total remaining borrowing capacity limitations mentioned above. Available terms range from one day to one year. The interest rate is the published rate in effect at the time of the advance. Under the terms of a Cash Management Advance program, LCNB can borrow up to $95.0 million in short-term advances, subject to total remaining borrowing capacity limitations mentioned above. LCNB can select a variable rate of interest for up to ninety days or a fixed rate of interest for a maximum of thirty days. The interest rate is the published rate in effect at the time of the advance. Both arrangements expire on February 8, 2024. At June 30, 2023, $75 million was outstanding under the REPO-Based Advance program and $25 million was outstanding under the Cash Management Advance program.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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