Here are 1-3 brief analogies for LCNB:

• Essentially a smaller, regional version of **PNC Bank** or **US Bank**, focused on providing banking and trust services in southwest Ohio.
• Think of it as a local version of a larger regional bank like **Fifth Third Bank** or **KeyCorp**, serving specific communities and businesses in Ohio.
• A community-focused financial institution, offering services similar to a national bank like **JPMorgan Chase** but operating on a much smaller, local scale in its Ohio market.

• Deposit Accounts: Provides various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
• Lending Services: Offers a range of loans including commercial, real estate (residential and commercial), and consumer loans like personal, auto, and home equity.
• Treasury Management Services: Delivers cash management solutions for businesses, such as merchant services, remote deposit capture, and ACH services.
• Trust and Wealth Management: Furnishes investment management, financial planning, trust administration, and estate planning services.
• Digital Banking: Provides convenient online and mobile banking platforms, bill pay, and electronic statements for account management.

LCNB (LCNB) - Major Customers

LCNB Corp. is a financial holding company whose primary subsidiary is LCNB National Bank. As a community and regional bank, LCNB sells financial products and services primarily to individuals and businesses within its operating markets. Due to the nature of banking, the company does not have a few identifiable "major customers" in the traditional sense, but rather a diversified base of clients across various segments. Therefore, the company primarily serves the following categories of customers:

• Individuals and Consumers: This category includes individual clients who utilize a range of personal banking services such as checking and savings accounts, mortgages, home equity loans, auto loans, personal loans, and wealth management services.
• Small to Medium-Sized Businesses (SMBs): LCNB provides financial solutions to businesses, including commercial loans, lines of credit, treasury management services, business checking and savings accounts, and other business banking solutions tailored to the needs of local enterprises.
• Commercial Real Estate Investors and Developers: The bank offers financing for commercial real estate projects, including acquisition, development, and construction loans for various property types such as office, retail, industrial, and multi-family residential.

Fiserv (FISV)

Eric J. Meilstrup, Chief Executive Officer & Director

Eric J. Meilstrup has been with LCNB National Bank for thirty years, serving in various roles including Oversight of Deposit Operations, Branch Operations, Human Resources, Training, and customer service-related departments. He was promoted to President of LCNB National Bank and LCNB Corp. effective October 1, 2018, and then appointed Chief Executive Officer effective June 30, 2019.

Andrew Wallace, Executive Vice President & Chief Financial Officer

Andrew Wallace joined LCNB in June 2022 as SVP of Accounting and Finance, and now leads financial strategy and reporting as CFO. Prior to LCNB, he worked at BKD LLP (now Forvis Mazars LLP) and holds a Master's degree in Accounting from Butler University.

Robert C. Haines II, President

Robert C. Haines II has been with LCNB since 1992, holding various positions including head of the IT department, SVP, and Assistant VP of Network Administration. He previously served as Chief Financial Officer for 17 years before being promoted to President in October 2025.

Patricia L. Walter, Executive Vice President & Chief Risk Officer

Patricia L. Walter joined LCNB in 2024 through the acquisition of EAGLE. bank, where she most recently served as President. Prior to her tenure at EAGLE. bank, she was the SVP of Finance of Cheviot Savings Bank, Manager of Corporate Accounting at Comair, and a Manager at Grant Thorton. She holds a B.S. in Accounting from Miami University (Ohio) and is a Certified Public Accountant.

Susan Kelley, Senior Vice President & Chief Accounting Officer

Susan Kelley joined LCNB in August 2024 as VP of Finance and Accounting. Before joining LCNB, she spent 19 years at Forvis Mazars LLP.

The key risks to LCNB's business include:

1. Changes in the Interest Rate Environment: LCNB's operations can be materially impacted by unexpected changes in interest rates, leading to results that differ from those anticipated by its market risk management functions.
2. General Economic Conditions and Increased Competition: Adverse changes in general economic conditions and heightened competition could negatively affect LCNB's operating results and financial condition. The current economic environment presents considerable challenges that may adversely impact the company.
3. Difficulties with Technology or Data Security Breaches: LCNB faces risks associated with technology difficulties and data security breaches, including cyberattacks, which could negatively impact its ability to conduct business and its relationships with customers, vendors, and other parties.

The emergence and rapid growth of digital-first financial service providers (fintechs and neobanks) that offer core banking services with highly competitive digital user experiences, lower fees, and greater convenience, directly challenging LCNB's traditional branch-based model for attracting and retaining customers, especially younger and tech-savvy demographics.

LCNB (symbol: LCNB) operates as a full-service community bank, offering a range of personal and commercial banking, lending, investment, and trust services primarily in Southwest and Central Ohio. The addressable markets for their main products and services in the U.S. are as follows:

• Retail Banking (U.S.): The U.S. Retail Banking Market is valued at approximately USD 0.87 trillion in 2025 and is projected to reach USD 1.08 trillion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.22%. Other estimates for the U.S. Retail Banking Market include a value of USD 1,105 billion in 2024, projected to reach USD 1,850 billion by 2032 with a CAGR of 6.7% from 2026-2032.
• Commercial Banking (U.S.): The U.S. commercial banking market is estimated at USD 732.5 billion in 2025 and is forecasted to reach USD 915.45 billion by 2030, reflecting a 4.56% CAGR. Another source estimates the U.S. Commercial Banking Market size at USD 226.44 billion in 2024, expected to reach USD 269.28 billion by 2029 with a CAGR of over 2%. A third estimate puts the market size at $1.6 trillion in 2025.
• Wealth Management (U.S.): The North American wealth management market, where the U.S. is a major contributor, accounted for approximately $937.45 billion in 2023. The global wealth management market was worth around USD 1,636.83 billion in 2024, with North America contributing about two-thirds of the revenue in 2022. The U.S. private banking market, a segment of wealth management, is valued at USD 59.54 billion in 2025.

• Accelerated Loan Growth: LCNB anticipates a return to accelerated loan growth in early 2026, with plans for further investment to sustain this momentum. This is expected to directly increase the company's net interest income.
• Expansion of Wealth Management Services: The company's wealth division has demonstrated strong performance, achieving record assets under management and a significant increase in fiduciary income. LCNB aims to continue building on this momentum in its trust and investment services.
• Leveraging Strategic Acquisitions: LCNB's management remains focused on optimizing and leveraging its strategic acquisitions. This strategy is intended to enhance the company's market presence and expand its customer base, contributing to overall revenue generation.
• Strategic Investments in Platform, Talent, and Capabilities: The company plans to continue investing in its platform, talent, and capabilities. These investments are aimed at driving sustainable growth and long-term shareholder value, suggesting a focus on developing new revenue streams and improving service offerings.

Share Repurchases

• Since 2020, LCNB has invested approximately $34 million to repurchase 1,851,403 shares of its stock, leading to a reduction of common shares outstanding by about 14.3%.
• On February 28, 2023, LCNB Corp. announced a new share repurchase program authorizing the repurchase of up to 500,000 shares of its common stock, replacing a prior program approved in May 2022.
• On February 11, 2022, LCNB repurchased 1,051,687 shares from John C. Lame and his family at a price of $20.00 per share.

Share Issuance

• On April 12, 2024, LCNB issued 868,001 shares of common stock, valued at approximately $12.187 million (adjusted as of June 30, 2025), as part of the consideration for the acquisition of Eagle Financial Bancorp, Inc.

Outbound Investments

• On April 12, 2024, LCNB acquired Eagle Financial Bancorp, Inc. (EFBI) for a total consideration of $22.360 million (adjusted as of June 30, 2025), which included $10.173 million in cash and $12.187 million in LCNB common stock. This acquisition expanded LCNB's presence in the Cincinnati market.

Capital Expenditures

• LCNB's capital expenditures generally include the construction or acquisition of new office buildings, improvements to existing offices, purchases of furniture and equipment, and enhancements to its information technology system.
• As of March 31, 2025, commitments outstanding for capital expenditures totaled approximately $26 thousand.