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Note 7 - Deposits

9 Months Ended

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

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