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Note 7 - Deposits | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Deposit Liabilities Disclosures [Text Block] | NOTE 7 - DEPOSITS The following table presents the composition of LCNB's deposits at September 30, 2024 and December 31, 2023 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Demand deposits |  | $ | 446,626 |  |  |  | 462,267 |
Interest-bearing demand and money fund deposits |  |  | 571,452 |  |  |  | 643,989 |
Savings deposits |  |  | 365,781 |  |  |  | 379,162 |
IRA and time certificates |  |  | 533,146 |  |  |  | 338,971 |
Total |  | $ | 1,917,005 |  |  |  | 1,824,389 |
Contractual maturities of time deposits at September 30, 2024 were as follows (in thousands):
Three months or less |  | $ | 94,032 |
Over three through six months |  |  | 86,915 |
Over six through twelve months |  |  | 195,593 |
October 1, 2024 - September 30, 2025 |  |  | 376,540 |
October 1, 2025 - September 30, 2026 |  |  | 145,448 |
October 1, 2026 - September 30, 2027 |  |  | 7,613 |
October 1, 2027 - September 30, 2028 |  |  | 1,586 |
October 1, 2028 - September 30, 2029 |  |  | 1,477 |
Thereafter |  |  | 482 |
|  | $ | 533,146 |
The aggregate amount of time deposits in denominations of $250,000 or more at September 30, 2024 and December 31, 2023 was $110.0 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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