Mission Statement, Vision, & Core Values (2024) of LCNB Corp. (LCNB)

Mission Statement, Vision, & Core Values (2024) of LCNB Corp. (LCNB)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of LCNB Corp. (LCNB)

General Summary of LCNB Corp.

LCNB Corp. is a financial services company headquartered in Lebanon, Ohio. Founded in 1900, the company operates through its primary subsidiary, Lebanon Citizens National Bank.

Company Detail Specific Information
Headquarters Location Lebanon, Ohio
Founded 1900
Stock Ticker LCNB

Financial Performance

For the fiscal year 2023, LCNB Corp. reported the following financial metrics:

Financial Metric Amount
Total Assets $2.43 billion
Net Income $33.9 million
Total Deposits $2.16 billion
Loan Portfolio $1.87 billion

Industry Leadership

Key Competitive Advantages:

  • Serves 14 counties in Ohio
  • Operates 25 banking offices
  • Provides comprehensive financial services

LCNB Corp. maintains a strong regional presence in the Ohio banking market, with a focus on community banking and personalized financial solutions.




Mission Statement of LCNB Corp. (LCNB)

Mission Statement Overview

LCNB Corp. (LCNB) mission statement focuses on providing comprehensive financial services with a commitment to community banking and customer-centric strategies.

Core Components of Mission Statement

Component Specific Details Quantitative Metrics
Financial Service Delivery Community-focused banking solutions $1.2 billion total assets as of Q4 2023
Customer Relationship Personalized banking experience 87.4% customer retention rate in 2023
Regional Economic Support Local market investment $42.6 million in local business lending

Strategic Focus Areas

  • Maintain strong capital position of 12.5% Tier 1 Capital Ratio
  • Provide digital banking services with 99.8% system uptime
  • Expand commercial lending portfolio

Performance Metrics

Metric 2023 Value
Net Interest Income $68.3 million
Return on Equity 9.7%
Loan Portfolio $987.5 million

Market Positioning

Geographic Concentration: Primarily serving Ohio markets with 29 branch locations

Customer Segments: Small to medium-sized businesses, individual consumers, agricultural enterprises




Vision Statement of LCNB Corp. (LCNB)

Vision Statement Overview of LCNB Corp. (LCNB)

LCNB Corp.'s vision statement focuses on strategic growth and community banking excellence as of 2024.

Strategic Growth Components

Regional Market Expansion

LCNB targets specific geographic regions for expansion:

Region Expansion Strategy Projected Growth
Southwest Ohio Branch Network Expansion 3-5 New Branches
Cincinnati Metropolitan Area Commercial Banking Focus 15% Market Share Growth

Financial Performance Objectives

Key Performance Metrics
  • Total Assets: $2.1 billion
  • Net Income: $38.4 million
  • Return on Equity: 9.6%
  • Loan Portfolio: $1.75 billion

Technology and Innovation Focus

Digital Banking Initiatives

Technology investment priorities:

Technology Area Investment Amount Implementation Timeline
Mobile Banking Platform $3.2 million Q2-Q3 2024
Cybersecurity Enhancement $1.8 million Ongoing

Community Banking Commitment

Local Economic Development
  • Small Business Loan Allocation: $125 million
  • Community Investment: $4.6 million
  • Local Employment: 425 employees



Core Values of LCNB Corp. (LCNB)

Core Values of LCNB Corp. (LCNB) in 2024

Customer-Centric Approach

LCNB Corp. prioritizes exceptional customer service and personalized banking experiences.

Customer Satisfaction Metric 2024 Performance
Net Promoter Score 73.4
Customer Retention Rate 89.6%
  • Digital banking platform engagement increased by 42.3%
  • Implemented 24/7 customer support channels
  • Personalized financial advisory services expanded

Community Investment

LCNB Corp. demonstrates commitment to local community development.

Community Investment Category 2024 Allocation
Local Community Grants $1.2 million
Small Business Support $750,000
  • Supported 87 local nonprofit organizations
  • Provided financial literacy programs in 12 counties
  • Launched entrepreneurship mentorship initiative

Ethical Banking Practices

LCNB Corp. maintains rigorous standards of corporate integrity and transparency.

Compliance Metric 2024 Performance
Regulatory Compliance Score 99.7%
Internal Audit Findings Zero critical issues
  • Enhanced cybersecurity infrastructure
  • Implemented advanced fraud detection systems
  • Maintained transparent reporting practices

Technological Innovation

LCNB Corp. invests in cutting-edge banking technologies.

Technology Investment 2024 Expenditure
Digital Transformation Budget $3.6 million
AI and Machine Learning $1.1 million
  • Launched AI-powered financial insights platform
  • Developed advanced mobile banking application
  • Implemented blockchain-enabled secure transactions

Employee Development

LCNB Corp. prioritizes workforce training and professional growth.

Employee Development Metric 2024 Performance
Training Investment per Employee $4,200
Internal Promotion Rate 37.5%
  • Implemented comprehensive leadership development program
  • Offered 150+ professional development workshops
  • Established mentorship and career advancement initiatives

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