LCNB Corp. (NASDAQ:LCNB, the "Company")) today announced that Robert A. Bedinghaus has resigned from the Board of Directors of LCNB Corp. and LCNB National Bank. Mr. Bedinghaus resigned for personal and family-related reasons and not as a result of any disagreement with the Company on any matter related to the Company's operations, policies or practices.
"On behalf of everyone at LCNB, I want to thank Bob for his dedication, service, and guidance," said Eric Meilstrup, LCNB's Chief Executive Officer. "As the former CEO of Cincinnati Federal and an active member of the greater Cincinnati community, Bob was a valuable member of our Board. We appreciate his contributions and wish him all the best in his next chapter."
Mr. Bedinghaus joined the Company's Board in 2023, and served as a valued member of the Trust Committee. He previously served as Chairman and CEO of Cincinnati Federal and Cincinnati Bancorp prior to the merger between Cincinnati Bancorp and the Company in November 2023. His leadership and experience in both the public and private sectors provided valuable insight into the communities served by LCNB National Bank, helping guide the Company through an important period of growth and development.
About LCNB Corp.
LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the "Bank"), it serves customers and communities in Southwest and South-Central Ohio. A financial institution with a long tradition for building strong relationships with customers and communities, the Bank offers convenient banking locations in Butler, Clermont, Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and Warren Counties, Ohio. The Bank continually strives to exceed customer expectations and provides an array of services for all personal and business banking needs including checking, savings, online banking, personal lending, business lending, agricultural lending, business support, deposit and treasury, investment services, trust and IRAs and stock purchases. LCNB Corp. common shares are traded on the NASDAQ Capital Market Exchange® under the symbol "LCNB."
Learn more about LCNB Corp. at www.lcnb.com
Forward-Looking Statements
Certain statements made in this news release regarding LCNB's financial condition, results of operations, plans, objectives, future performance and business, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by the fact they are not historical facts and include words such as "anticipate", "could", "may", "feel", "expect", "believe", "plan", and similar expressions. Please refer to LCNB's Annual Report on Form 10-K for the year ended December 31, 2024, as well as its other filings with the SEC, for a more detailed discussion of risks, uncertainties and factors that could cause actual results to differ from those discussed in the forward-looking statements.
These forward-looking statements reflect management's current expectations based on all information available to management and its knowledge of LCNB's business and operations. Additionally, LCNB's financial condition, results of operations, plans, objectives, future performance and business are subject to risks and uncertainties that may cause actual results to differ materially. These factors include, but are not limited to:
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the success, impact, and timing of the implementation of LCNB's business strategies; |
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LCNB's ability to integrate recent and future acquisitions, including Cincinnati Bancorp, Inc. and Eagle Financial Bancorp, Inc., may be unsuccessful or may be more difficult, time-consuming, or costly than expected; |
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LCNB may incur increased loan charge-offs in the future and the allowance for credit losses may be inadequate; |
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LCNB may face competitive loss of customers; |
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changes in the interest rate environment, either by interest rate increases or decreases, may have results on LCNB's operations materially different from those anticipated by LCNB's market risk management functions; |
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changes in general economic conditions and increased competition could adversely affect LCNB's operating results; |
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changes in regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact LCNB's operating results; |
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LCNB may experience difficulties growing loan and deposit balances; |
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United States trade relations with foreign countries could negatively impact the financial condition of LCNB's customers, which could adversely affect LCNB's operating results and financial condition; |
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global and/or domestic geopolitical relations and/or conflicts could create financial market uncertainty and have negative impacts on commodities, currency, and stability, which could adversely affect LCNB's operating results and financial condition; |
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difficulties with technology or data security breaches, including cyberattacks or widespread outages, could negatively affect LCNB's ability to conduct business and its relationships with customers, vendors, and others; |
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adverse weather events and natural disasters and global and/or national epidemics could negatively affect LCNB's customers given its concentrated geographic scope, which could impact LCNB's operating results; and |
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government intervention in the U.S. financial system, including the effects of legislative, tax, accounting, and regulatory actions and reforms, including, the Jumpstart Our Business Startups Act, the Consumer Financial Protection Bureau, the capital ratios of Basel III as adopted by the federal banking authorities, changes in deposit insurance premium levels, and any such future regulatory actions or reforms. |
Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist shareholders and potential investors in understanding current and anticipated financial operations of LCNB and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. LCNB undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251014029263/en/
Company Contact:
Eric J. Meilstrup
Chief Executive Officer
LCNB National Bank
(513) 932-1414
[email protected]
Investor and Media Contact:
Andrew M. Berger
Managing Director
SM Berger & Company, Inc.
(216) 464-6400
[email protected]