BRIEF-Lcnb Corp. Agrees To Acquire Cincinnati Bancorp, Inc.

Reuters2023-05-18

LCNB Corp :

* LCNB CORP. AGREES TO ACQUIRE CINCINNATI BANCORP, INC.

* LCNB CORP - LCNB WILL ACQUIRE CNNB IN A STOCK-AND-CASH TRANSACTION

* LCNB CORP - EXCLUDING ONE-TIME TRANSACTION COSTS, EXPECTS DEAL TO BE ABOUT 18.2% & 26.2% ACCRETIVE TO 2024 AND 2025 FULLY DILUTED EPS, RESPECTIVELY

* LCNB CORP- UNDER DEAL, CNNB SHAREHOLDERS TO GET 0.9274 LCNB COMMON SHARES OR CASH IN THE AMOUNT OF $17.21

* LCNB CORP - LCNB BOARD OF DIRECTORS INTENDS TO APPOINT ROBERT BEDINGHAUS TO THE BOARDS OF LCNB AND LCNB NATIONAL BANK IMMEDIATELY AFTER CLOSING

* LCNB CORP- TERMINATION FEE EQUAL TO $2 MILLION WILL BE PAYABLE BY CNNB TO LCNB IF DEAL TERMINATED UNDER CERTAIN CIRCUMSTANCES

Source text for Eikon: Further company coverage:

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