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Deposits | 6 Months Ended
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Jun. 30, 2024
Statement of Financial Position [Abstract] |
Deposits | DEPOSITS The following table presents the composition of LCNB's deposits at June 30, 2024 and December 31, 2023 (in thousands):
| June 30, 2024 |  | December 31, 2023
Demand deposits | $ | 449,110 |  |  | 462,267 |
Interest-bearing demand and money fund deposits | 587,141 |  |  | 643,989 |
Savings deposits | 370,039 |  |  | 379,162 |
IRA and time certificates | 536,770 |  |  | 338,971 |
Total | $ | 1,943,060 |  |  | 1,824,389 |
Contractual maturities of time deposits at June 30, 2024 were as follows (in thousands):
Three months or less | $ | 108,939 |
Over three through six months | 93,025 |
Over six through twelve months | 115,118 |
July 1, 2024 - June 30, 2025 | 317,082 |
July 1, 2025 - June 30, 2026 | 202,684 |
July 1, 2026 - June 30, 2027 | 12,926 |
July 1, 2027 - June 30, 2028 | 2,246 |
July 1, 2028 - June 30, 2029 | 1,384 |
Thereafter | 448 |
| $ | 536,770 |
The aggregate amount of time deposits in denominations of $250,000 or more at June 30, 2024 and December 31, 2023 was $109.8 million and $50.2 million, respectively. While the acquisition of EFBI contributed to the increase in the total amount of time deposits in denominations of $250,000 or more, most of the growth was generated organically. LCNB had a special rate promotion for time deposits, accompanied by a bonus rate promotion for new deposits, during much of the 2024 period.

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 405 -Topic 942 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478353/942-405-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(12)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph e -Publisher SEC Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC + Details
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