LCNB CORP, PRE 14A filed on 4/11/2025
Proxy Statement - Notice of Shareholders Meeting (preliminary)
v3.25.1
Cover
12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type PRE 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name LCNB CORP.
Entity Central Index Key 0001074902
v3.25.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Year

 

Summary

Compensation

Table Total for

PEO(1)(2)

   

Compensation

Actually Paid to

PEO(3)

   

Average

Summary

Compensation

Table Total for

Non-PEO NEOs

(4)

   

Average

Compensation

Actually Paid to

Non-PEO

NEOs(5)

   

Value of

Initial Fixed

$100

Investment

Based on

Total

Shareholder

Return

(“TSR”)

   

Net

Income

(000’s)

 

2024

    $598,689       $646,895       $343,464       $362,753       $103.00       $13,492  

2023

    $821,601       $665,222       $484,667       $392,382       $107.35       $12,628  

2022

    $598,921       $621,903       $344,912       $367,059       $122.53       $22,128  

 

 

PAY VERSUS PERFORMANCE

 

 

(1)

Executives included in the Non-PEO averages for all years presented are; Mr. Haines, Mr. Miller, Mr. Ruppert, and Mr. Mulligan. Mr. Meilstrup is the PEO for all years presented.

 

(2)

Includes restricted stock awards with the value of $84,045 in 2024, $154,050 in 2023 and $102,000 in 2022.

 

(3)

Adjustments to determine compensation “actually paid” for the PEO included the following:

   
PEO Total Compensation Amount $ 598,689 $ 821,601 $ 598,921
PEO Actually Paid Compensation Amount $ 646,895 665,222 621,903
Adjustment To PEO Compensation, Footnote

Adjustments to determine Compensation Actually Paid for PEO in US dollars

 

2024

   

2023

   

2022

 

Change in actuarial present value of the individual’s accumulated benefit under all defined benefit pension plans

    6,476       156,800       4,893  

Value of equity awards (stock awards or options) granted in the year

    84,045       154,050       102,000  

Value “actually received” as it relates to pension benefits

                 

Service cost (and prior service cost)

    32,000       28,000       36,000  

Equity compensation

                 

Awards granted in fiscal year (valued at December 31 of the relevant year)

    91,673       136,174       95,382  

Change of unvested awards (valued at December 31 of the relevant year)

    (8,506)       (21,945)       (12,714)  

Change of shares vested during year (valued at the applicable vesting date)

    6,533       (2,723)       184  

Dividends paid during year

    17,027       14,966       11,023  

 

 

(4)

Includes restricted stock awards in 2024 as follows: Mr. Haines, $34,840; Mr. Miller, $34,840; Mr. Ruppert, $32,500; and Mr. Mulligan, $31,460. In 2023, as follows: Mr. Haines, $65,000; Mr. Miller, $65,000; Mr. Ruppert, $60,320; and Mr. Mulligan, $58,240. In 2022 as follows: Mr. Haines, $45,600; Mr. Miller, $45,600; Mr. Ruppert, $42,000; and Mr. Mulligan, $40,400.

 

(5)

Adjustments to determine compensation “actually paid” for the Non-PEO NEOs included the following:

   
Non-PEO NEO Average Total Compensation Amount $ 343,464 484,667 344,912
Non-PEO NEO Average Compensation Actually Paid Amount $ 362,753 392,382 367,059
Adjustment to Non-PEO NEO Compensation Footnote

Adjustments to determine Compensation Actually Paid for Non-PEO NEO in US dollars

 

2024

   

2023

   

2022

 

Change in actuarial present value of the individual's accumulated benefit under all defined benefit pension plans

    1,892       98,140       2,558  

Value of equity awards (stock awards or options) granted in the year

    33,410       63,830       44,700  

Value “actually received” as it relates to pension benefits

                 

Service cost (and prior service cost)

    11,750       18,500       27,250  

Equity compensation

                 

Awards granted in fiscal year (valued at December 31 of the relevant year)

    36,444       56,418       41,801  

Change of unvested awards (valued at December 31 of the relevant year)

    (3,452)       (9,991)       (6,341)  

Change of shares vested during year (valued at the applicable vesting date)

    2,983       (1,468)       57  

Dividends paid during year

    6,866       6,527       5,238  

 

 

   
Total Shareholder Return Amount $ 103 107.35 122.53
Net Income (Loss) 13,492 12,628 22,128
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 6,476 156,800 4,893
PEO | Pension Adjustments Prior Service Cost      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 32,000 28,000 36,000
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 91,673 136,174 95,382
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (8,506) (21,945) (12,714)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 6,533 (2,723) 184
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 17,027 14,966 11,023
PEO | Value of Equity Awards Granted In The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 84,045 154,050 102,000
PEO | Value Actually Received As It Related To Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,892 98,140 2,558
Non-PEO NEO | Pension Adjustments Prior Service Cost      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 11,750 18,500 27,250
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 36,444 56,418 41,801
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,452) (9,991) (6,341)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,983 (1,468) 57
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 6,866 6,527 5,238
Non-PEO NEO | Value of Equity Awards Granted In The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 33,410 63,830 44,700
Non-PEO NEO | Value Actually Received As It Related To Pension Benefits [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0
v3.25.1
Award Timing Disclosure
12 Months Ended
Dec. 31, 2024
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure

POLICIES AND PRACTICES RELATED TO THE GRANT OF CERTAIN EQUITY AWARDS

 

The Company does not currently grant new awards of stock options, stock appreciation rights or similar option-like instruments (“Options”). Accordingly, the Company has no specific policy or practice on the timing of awards of Options in relation to the disclosure of material nonpublic information by the Company. In the event the Company determines to grant new awards of Options, the Board of Directors will evaluate the appropriate steps to take in relation to the foregoing.

Award Timing Method The Company does not currently grant new awards of stock options, stock appreciation rights or similar option-like instruments (“Options”). Accordingly, the Company has no specific policy or practice on the timing of awards of Options in relation to the disclosure of material nonpublic information by the Company. In the event the Company determines to grant new awards of Options, the Board of Directors will evaluate the appropriate steps to take in relation to the foregoing.
Award Timing Predetermined false
Award Timing MNPI Considered false
MNPI Disclosure Timed for Compensation Value false
v3.25.1
Insider Trading Policies and Procedures
12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true