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Income Taxes | 6 Months Ended
--- | ---
Jun. 30, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (decrease) resulting from: |  |  |  |  |  |  |
Tax exempt interest | (2.8) | % |  | (0.6) | % |  | (1.7) | % |  | (0.6) | %
Tax exempt income on bank-owned life insurance | (7.6) | % |  | (1.0) | % |  | (4.4) | % |  | (1.1) | %
Captive insurance premium income | (6.6) | % |  | (0.8) | % |  | (4.3) | % |  | (0.9) | %
Affordable housing tax credit limited partnerships | (8.2) | % |  | (1.3) | % |  | (4.7) | % |  | (1.4) | %
Nondeductible merger-related expenses | 5.4 | % |  | — | % |  | 3.9 | % |  | — | %
Other, net | 0.8 | % |  | 0.6 | % |  | 0.6 | % |  | 0.8 | %
Effective tax rate | 2.0 | % |  | 17.9 | % |  | 10.4 | % |  | 17.8 | %

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