LCNB to Buy Cincinnati Bancorp in $43.7M Deal

Dow Jones2023-05-18

By Chris Wack

LCNB Corp., the holding company for LCNB National Bank, said Thursday it is buying Cincinnati Bancorp, the holding company for Cincinnati Federal, in a deal valued at $43.7 million.

Cincinnati Bancorp operates five full-service branch offices in Cincinnati and northern Kentucky, and has $304.7 million in assets, $262.9 million in loans, $223.6 million of deposits and $40.3 million in consolidated stockholders' equity as of March 31.

Cincinnati Bancorp shareholders will have the opportunity to elect to receive either 0.9274 share of LCNB stock or $17.21 in cash for each share of Cincinnati Bancorp stock owned.

Excluding one-time transaction costs, LCNB expects the transaction to be 18.2% and 26.2% accretive to 2024 and 2025 fully diluted earnings per share, respectively.

At closing, Cincinnati Federal branches will become branches of LCNB National Bank.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 18, 2023 09:10 ET (13:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2336288589?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-05-18 21:10","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2336288589","market":"nz","top_or_hot":-1,"title":"LCNB to Buy Cincinnati Bancorp in $43.7M Deal","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Chris Wack \n</p>\n<pre>\n \n</pre>\n<p>\n  LCNB Corp., the holding company for LCNB National Bank, said Thursday it is buying <a href=\"https://laohu8.com/S/CNNB\">Cincinnati Bancorp</a>, the holding company for Cincinnati Federal, in a deal valued at $43.7 million. \n</p>\n<p>\n  Cincinnati Bancorp operates five full-service branch offices in Cincinnati and northern Kentucky, and has $304.7 million in assets, $262.9 million in loans, $223.6 million of deposits and $40.3 million in consolidated stockholders' equity as of March 31. \n</p>\n<p>\n  Cincinnati Bancorp shareholders will have the opportunity to elect to receive either 0.9274 share of LCNB stock or $17.21 in cash for each share of Cincinnati Bancorp stock owned. \n</p>\n<p>\n  Excluding one-time transaction costs, LCNB expects the transaction to be 18.2% and 26.2% accretive to 2024 and 2025 fully diluted earnings per share, respectively. \n</p>\n<p>\n  At closing, Cincinnati Federal branches will become branches of LCNB National Bank. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Chris Wack at chris.wack@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 18, 2023 09:10 ET (13:10 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LCNB to Buy Cincinnati Bancorp in $43.7M Deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLCNB to Buy Cincinnati Bancorp in $43.7M Deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-18 21:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Chris Wack \n\n\n \n\n\n  LCNB Corp., the holding company for LCNB National Bank, said Thursday it is buying Cincinnati Bancorp, the holding company for Cincinnati Federal, in a deal valued at $43.7 ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CNNB","symbol_name":"Cincinnati Bancorp","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2336288589","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2336288589","pubTimestamp":1684415400,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"By Chris Wack \n\n\n \n\n\n  LCNB Corp., the holding company for LCNB National Bank, said Thursday it is b","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CNNB":"Cincinnati Bancorp","BK4195":"互助储蓄与抵押信贷金融服务","BK4211":"区域性银行","LCNB":"LCNB Corporation"},"translate_title":"LCNB将以4370万美元收购Cincinnati Bancorp","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CNNB":1,"LCNB":1},"content_text":"By Chris Wack \n\n\n \n\n\n  LCNB Corp., the holding company for LCNB National Bank, said Thursday it is buying Cincinnati Bancorp, the holding company for Cincinnati Federal, in a deal valued at $43.7 million. \n\n\n  Cincinnati Bancorp operates five full-service branch offices in Cincinnati and northern Kentucky, and has $304.7 million in assets, $262.9 million in loans, $223.6 million of deposits and $40.3 million in consolidated stockholders' equity as of March 31. \n\n\n  Cincinnati Bancorp shareholders will have the opportunity to elect to receive either 0.9274 share of LCNB stock or $17.21 in cash for each share of Cincinnati Bancorp stock owned. \n\n\n  Excluding one-time transaction costs, LCNB expects the transaction to be 18.2% and 26.2% accretive to 2024 and 2025 fully diluted earnings per share, respectively. \n\n\n  At closing, Cincinnati Federal branches will become branches of LCNB National Bank. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 18, 2023 09:10 ET (13:10 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2336288589"}