Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2020	Mar. 09, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-26121
Entity Registrant Name	LCNB Corp.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1626393
Entity Address, Address Line One	2 North Broadway
Entity Address, City or Town	Lebanon
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45036
City Area Code	513
Local Phone Number	932-1414
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	LCNB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 195,144,851
Entity Common Stock, Shares Outstanding		12,814,987
Entity Central Index Key	0001074902
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
ICFR Auditor Attestation Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS:
Cash and due from banks	$ 17,383,000	$ 17,019,000
Interest-bearing demand deposits	14,347,000	3,746,000
Total cash and cash equivalents	31,730,000	20,765,000
Equity Securities, FV-NI	2,389,000	2,312,000
Equity Securities without Readily Determinable Fair Value, Amount	2,099,000	2,099,000
Investment securities:
Debt securities, available-for-sale, at fair value	209,471,000	178,000,000
Debt securities, held-to-maturity, at cost	24,810,000	27,525,000
Federal Reserve Bank stock, at cost	4,652,000	4,652,000
Federal Home Loan Bank stock, at cost	5,203,000	5,203,000
Loans, net	1,293,693,000	1,239,406,000
Premises and equipment, net	35,376,000	34,787,000
Operating Lease, Right-of-Use Asset	6,274,000	5,444,000
Goodwill	59,221,000	59,221,000
Core deposit and other intangibles, net	3,453,000	4,006,000
Bank owned life insurance	42,149,000	41,667,000
Accrued interest receivable	8,337,000	3,926,000
Other assets, net	17,027,000	10,295,000
TOTAL ASSETS	1,745,884,000	1,639,308,000
Deposits:
Non-interest-bearing	455,073,000	354,391,000
Interest-bearing	1,000,350,000	993,889,000
Total deposits	1,455,423,000	1,348,280,000
Long-term debt	22,000,000	40,994,000
Operating Lease, Liability	6,371,000	5,446,000
Accrued interest and other liabilities	21,265,000	16,540,000
TOTAL LIABILITIES	1,505,059,000	1,411,260,000
COMMITMENTS AND CONTINGENT LIABILITIES	$ 0	$ 0
Preferred Stock, Shares Outstanding	0	0
SHAREHOLDERS' EQUITY:
Preferred shares - no par value, authorized 1,000,000 shares, none outstanding	$ 0	$ 0
Common Stock, Value, Issued	142,443,000	141,791,000
Retained earnings	$ 115,058,000	$ 104,431,000
Treasury Stock, Shares	1,305,579	1,175,027
Treasury Stock, Value	$ (20,719,000)	$ (18,847,000)
Accumulated other comprehensive income, net of taxes	4,043,000	673,000
TOTAL SHAREHOLDERS' EQUITY	240,825,000	228,048,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,745,884,000	$ 1,639,308,000
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common stock, shares, outstanding (in shares)	12,858,325	12,936,783
Common Stock, Shares, Issued	14,163,904	14,111,810
Common Stock, Shares Authorized	19,000,000	19,000,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
SHAREHOLDERS' EQUITY:
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	19,000,000	19,000,000
Common Stock, Shares, Issued	14,163,904	14,111,810
Treasury Stock, Shares	1,305,579	1,175,027

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INTEREST INCOME:
Interest and fees on loans	$ 59,267	$ 59,009	$ 47,489
Dividend Income, Equity Securities, Operating	54	62	65
Dividend Income, Operating	37	65	39
Interest on debt securities:
Taxable	2,916	3,601	3,666
Non-taxable	1,027	1,677	2,686
Interest Income, Deposits with Financial Institutions	0	11	58
Other investments	479	769	591
TOTAL INTEREST INCOME	63,780	65,194	54,594
INTEREST EXPENSE:
Interest on deposits	6,634	9,526	5,753
Interest on short-term borrowings	7	227	311
Interest on long-term debt	921	1,035	361
TOTAL INTEREST EXPENSE	7,562	10,788	6,425
NET INTEREST INCOME	56,218	54,406	48,169
PROVISION FOR LOAN LOSSES	2,014	207	923
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	54,204	54,199	47,246
NON-INTEREST INCOME:
Fiduciary income	5,009	4,354	3,958
Service charges and fees on deposit accounts	5,482	5,875	5,590
Net gains (losses) on sales of debt securities	221	(41)	(8)
Bank owned life insurance income	1,441	943	738
Net gains from sales of loans	2,297	328	223
Other operating income	1,291	889	549
TOTAL NON-INTEREST INCOME	15,741	12,348	11,050
NON-INTEREST EXPENSE:
Salaries and employee benefits	27,178	25,320	21,279
Equipment expenses	1,377	1,209	1,138
Occupancy expense, net	2,875	2,961	2,861
State financial institutions tax	1,708	1,669	1,197
Marketing	1,254	1,319	1,119
Amortization of intangibles	1,046	1,043	922
FDIC insurance premiums, net	256	225	419
ATM expense	1,028	580	580
Computer maintenance and supplies	1,107	1,094	990
Telephone expense	706	707	649
Contracted services	1,821	1,865	1,547
Merger-related expenses	0	114	2,123
Other non-interest expense	5,429	5,416	5,678
TOTAL NON-INTEREST EXPENSE	45,785	43,522	40,502
INCOME BEFORE INCOME TAXES	24,160	23,025	17,794
PROVISION FOR INCOME TAXES	4,085	4,113	2,949
NET INCOME	$ 20,075	$ 18,912	$ 14,845
Earnings per common share:
Basic (in dollars per share)	$ 1.55	$ 1.44	$ 1.24
Diluted (in dollars per share)	$ 1.55	$ 1.44	$ 1.24
Weighted average common shares outstanding:
Basic (in shares)	12,914,277	13,078,920	11,935,350
Diluted (in shares)	12,914,584	13,082,893	11,942,253

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 20,075	$ 18,912	$ 14,845
Other comprehensive income (loss):
Net unrealized gain (loss) on available-for-sale securities (net of taxes of $975, $1,450, and $(516) for 2020, 2019, and 2018, respectively)	3,666	5,456	(1,939)
Reclassification adjustment for net realized (gain) loss on sale of available-for-sale securities included in net income (net of taxes of $46, $(9), and $(2) for 2020, 2019 and 2018, respectively)	(175)	32	6
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	(121)	(96)	81
Other comprehensive income (loss)	3,370	5,392	(1,852)
TOTAL COMPREHENSIVE INCOME	23,445	24,304	12,993
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX, AS OF YEAR-END:
Net unrealized gain (loss) on securities available-for-sale	4,349	857	(4,631)
Net unfunded liability for nonqualified pension plan	(306)	(184)	(88)
Balance at year-end	$ 4,043	$ 673	$ (4,719)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other comprehensive income (loss):
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax	$ 975	$ 1,450	$ (516)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	46	(9)	(2)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	$ (33)	$ (26)	$ 21

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Shares	Common Shares Cumulative Effect, Period of Adoption, Adjustment	Common Shares Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance	Treasury Shares	Treasury Shares Cumulative Effect, Period of Adoption, Adjustment	Treasury Shares Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance
Balance (in shares) at Dec. 31, 2017				10,023,059		10,023,059
Balance at beginning of year at Dec. 31, 2017	$ 150,271	$ 0	$ 150,271	$ 76,977	$ 0	$ 76,977	$ 87,301	$ 525	$ 87,826	$ (11,665)	$ 0	$ (11,665)	$ (2,342)	$ (525)	$ (2,867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,845			0			14,845			0			0
Other comprehensive income, net of taxes	(1,852)			$ 0			0			0			(1,852)
Dividend Reinvestment and Stock Purchase Plan (in shares)				22,936
Dividend Reinvestment and Stock Purchase Plan	416			$ 416			0			0			0
Acquisition of BNB Bancorp, Inc. (in shares)				3,253,060
Stock issued for acquisition of Columbus First Bancorp, Inc.	63,598			$ 63,598			0			0			0
Exercise of stock options (in shares)				6,987
Exercise of stock options	72			$ 72			0			0			0
Treasury Stock, Shares, Acquired				21,400
Payments for Repurchase of Common Stock	348			$ 0			0			348			0
Compensation expense relating to restricted stock (in shares)				10,634
Compensation expense relating to restricted stock	$ 107			$ 107			0			0			0
Dividends, Common Stock, Stock				0
Common Stock, Dividends, Per Share, Declared	$ 0.65
Dividends, Common Stock, Cash	$ (8,124)			$ 0			(8,124)			0			0
Balance (in shares) at Dec. 31, 2018				13,295,276
Balance at end of year at Dec. 31, 2018	218,985			$ 141,170			94,547			(12,013)			(4,719)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,912			0			18,912			0			0
Other comprehensive income, net of taxes	5,392			$ 0			0			0			5,392
Dividend Reinvestment and Stock Purchase Plan (in shares)				25,629
Dividend Reinvestment and Stock Purchase Plan	446			$ 446			0			0			0
Exercise of stock options (in shares)				3,374
Exercise of stock options	41			$ 41			0			0			0
Treasury Stock, Shares, Acquired				400,000
Payments for Repurchase of Common Stock	6,834			$ 0			0			6,834			0
Compensation expense relating to restricted stock (in shares)				12,504
Compensation expense relating to restricted stock	$ 134			$ 134			0			0			0
Dividends, Common Stock, Stock				0
Common Stock, Dividends, Per Share, Declared	$ 0.69
Dividends, Common Stock, Cash	$ (9,028)			$ 0			(9,028)			0			0
Balance (in shares) at Dec. 31, 2019	12,936,783			12,936,783
Balance at end of year at Dec. 31, 2019	$ 228,048			$ 141,791			104,431			(18,847)			673
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,075			0			20,075			0			0
Other comprehensive income, net of taxes	3,370			$ 0			0			0			3,370
Dividend Reinvestment and Stock Purchase Plan (in shares)				26,840
Dividend Reinvestment and Stock Purchase Plan	401			$ 401			0			0			0
Exercise of stock options (in shares)				9,593
Exercise of stock options	114			$ 114			0			0			0
Treasury Stock, Shares, Acquired				130,552
Payments for Repurchase of Common Stock	1,872			$ 0			0			1,872			0
Compensation expense relating to restricted stock (in shares)				15,661
Compensation expense relating to restricted stock	$ 137			$ 137			0			0			0
Dividends, Common Stock, Stock				0
Common Stock, Dividends, Per Share, Declared	$ 0.73
Dividends, Common Stock, Cash	$ (9,448)			$ 0			(9,448)			0			0
Balance (in shares) at Dec. 31, 2020	12,858,325			12,858,325
Balance at end of year at Dec. 31, 2020	$ 240,825			$ 142,443			$ 115,058			$ (20,719)			$ 4,043

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.73	$ 0.69	$ 0.65

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 20,075	$ 18,912	$ 14,845
Adjustments to reconcile net income to net cash flows from operating activities-
Depreciation, amortization and accretion	2,234	3,244	4,073
Provision for loan losses	2,014	207	923
Deferred income tax provision	134	419	228
Increase in cash surrender value of bank owned life insurance	(1,124)	(943)	(738)
Bank owned life insurance death benefits in excess of cash surrender value	(317)	0	0
Equity Securities, FV-NI, Gain (Loss)	(675)	(264)	73
Net gain on sales of securities	(221)	41	8
Realized (gain) loss from sale of premises and equipment	(53)	(1)	575
Realized (gain) loss from sale and impairment of other real estate owned and repossessed assets	(11)	44	14
Origination of mortgage loans for sale	(65,890)	(16,418)	(8,924)
Realized gains from sales of loans	(2,297)	(328)	(223)
Proceeds from sales of loans	67,467	16,590	9,033
Compensation expense related to restricted stock	137	134	107
Changes in:
Accrued income receivable	(4,573)	230	215
Other assets	(6,795)	(1,373)	(1,811)
Other liabilities	3,573	1,474	1,344
TOTAL ADJUSTMENTS	(6,397)	3,056	4,897
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES	13,678	21,968	19,742
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of equity securities	967	398	127
Proceeds from sales of debt securities available-for-sale	8,786	84,521	8,545
Proceeds from maturities and calls of debt securities:
Available-for-sale	66,170	28,942	24,249
Held-to-maturity	5,297	10,766	6,281
Purchases of equity securities	(369)	(367)	(1,118)
Purchases of debt securities:
Available-for-sale	(102,920)	(47,270)	0
Held-to-maturity	(2,582)	(8,570)	(3,431)
Increase (Decrease) in Time Deposits	0	996	9,354
Proceeds from Sale of Federal Reserve Bank Stock	0	1	0
Purchase of Federal Reserve Bank stock	0	0	(1,921)
Net increase in loans	(54,196)	(44,093)	(65,842)
Purchase of bank owned life insurance	0	(12,000)	0
Proceeds from bank owned life insurance mortality benefits	958	0	0
Proceeds from sales of other real estate owned and repossessed assets	208	19	21
Purchases of premises and equipment	(2,791)	(3,934)	(600)
Proceeds from sales of premises and equipment	421	5	651
Net cash received from acquisition of Columbus First Bancorp, Inc.	0	0	12,896
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES	(80,051)	9,056	(10,788)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	107,143	47,361	(29,332)
Net decrease in short-term borrowings	0	(56,230)	(770)
Proceeds from long-term debt	0	0	31,000
Principal payments on long-term debt	(19,000)	(6,055)	(7,214)
Proceeds from issuance of common stock	54	76	65
Payments for Repurchase of Common Stock	1,872	6,834	348
Proceeds from exercise of stock options	114	41	72
Cash dividends paid on common stock	(9,101)	(8,658)	(7,773)
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	77,338	(30,299)	(14,300)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	10,965	725	(5,346)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	20,765	20,040	25,386
CASH AND CASH EQUIVALENTS AT END OF YEAR	31,730	20,765	20,040
CASH PAID DURING THE YEAR FOR:
Interest	7,809	10,480	5,908
Income taxes	3,811	3,471	1,950
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITY:
Transfer from loans to other real estate owned and repossessed assets	0	17	244
Payments to Acquire Federal Home Loan Bank Stock	$ 0	$ (358)	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES LCNB Corp. (the "Company" or “LCNB”), an Ohio corporation formed in December 1998, is a financial holding company whose principal activity is the ownership of LCNB National Bank (the "Bank"). The Bank was founded in 1877 and provides full banking services, including Wealth Management and Investment services, to customers primarily in Southwestern Ohio and Franklin County Ohio and contiguous areas. BASIS OF PRESENTATION The consolidated financial statements include the accounts of the Company and its subsidiaries. Significant intercompany accounts and transactions are eliminated in consolidation. The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles and with general practices in the banking industry. Certain prior period data presented in the consolidated financial statements have been reclassified to conform with the current year presentation. These reclassifications had no effect on net income. USE OF ESTIMATES The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS For purposes of reporting cash flows, cash and cash equivalents include cash, balances due from banks, federal funds sold, and interest-bearing demand deposits with original maturities of twelve months or less. Deposits with other banks routinely have balances greater than FDIC insured limits. Management considers the risk of loss to be very low with respect to such deposits. INVESTMENT SECURITIES Certain municipal debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity” and recorded at amortized cost. Debt securities not classified as held-to-maturity are classified as “available-for-sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income, a separate component of shareholders’ equity. Amortization of premiums and accretion of discounts are recognized as adjustments to interest income using the level-yield method. Realized gains or losses from the sale of securities are recorded on the trade date and are computed using the specific identification method. Declines in the fair value of debt securities below their cost that are deemed to be other-than-temporarily impaired, and for which the Company does not intend to sell the securities and it is not more likely than not that the securities will be sold before the anticipated recovery of the impairment, are separated into losses related to credit factors and losses related to other factors. The losses related to credit factors are recognized in earnings and losses related to other factors are recognized in other comprehensive income. In estimating other than temporary impairment losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management determined that no such impairment adjustment was required to be made in the Company's Consolidated Statements of Income as of December 31, 2020, 2019, and 2018. Equity securities are measured at fair value with changes in fair value recognized in net income. Federal Home Loan Bank ("FHLB") stock is an equity interest in the Federal Home Loan Bank of Cincinnati. It can be sold only at its par value of $100 per share and only to the FHLB or to another member institution. In addition, the equity ownership rights are more limited than would be the case for a public company because of the oversight role exercised by the Federal Housing Finance Agency in the process of budgeting and approving dividends. Federal Reserve Bank stock is similarly restricted in marketability and value. Both investments are carried at cost, which is their par value. FHLB and Federal Reserve Bank stock are both subject to minimum ownership requirements by member banks. The required investments in common stock are based on predetermined formulas. LOANS The Company’s loan portfolio includes most types of commercial and industrial loans, commercial loans secured by real estate, residential real estate loans, consumer loans, agricultural loans and other types of loans. Most of the properties collateralizing the loan portfolio are located within the Company’s market area. Loans are stated at the principal amount outstanding, net of unearned income, deferred origination fees and costs, and the allowance for loan losses. Interest income is accrued on the unpaid principal balance. The delinquency status of a loan is based on contractual terms and not on how recently payments have been received. Generally, a loan is placed on non-accrual status when it is classified as impaired or there is an indication that the borrower’s cash flow may not be sufficient to make payments as they come due, unless the loan is well secured and in the process of collection. Subsequent cash receipts on non-accrual loans are recorded as a reduction of principal and interest income is recorded once principal recovery is reasonably assured. The current year's accrued interest on loans placed on non-accrual status is charged against earnings. Previous years' accrued interest is charged against the allowance for loan losses. Non-accrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer a reasonable doubt as to the timely collection of interest or principal. Loan origination fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of loan yields. These amounts are being amortized over the lives of the related loans. In the ordinary course of business, the Company enters into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded. The credit risk associated with these commitments is evaluated in a manner similar to the allowance for loan losses. Loans acquired from mergers are recorded at fair value with no carryover of the acquired entity's previously established allowance for loan losses. The excess of expected cash flows over the estimated fair value of acquired loans is recognized as interest income over the remaining contractual lives of the loans using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows result in the recognition of additional interest income over the then-remaining contractual lives of the loans. Management estimates the cash flows expected to be collected at acquisition using a third-party risk model, which incorporates the estimate of key assumptions, such as default rates, severity, and prepayment speeds. Impaired loans acquired are accounted for under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 310-30. Factors considered in evaluating whether an acquired loan was impaired include delinquency status and history, updated borrower credit status, collateral information, and current loan-to-value information. The difference between contractually required payments at the time of acquisition and the cash flows expected to be collected is referred to as the nonaccretable difference. The interest component of the cash flows expected to be collected is referred to as the accretable yield and is recognized as interest income over the remaining contractual life of the loan using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows will result in a reclassification from the nonaccretable difference to the accretable yield. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. Consumer loans are charged off when they reach 120 days past due. Subsequent recoveries, if any, are credited to the allowance. The provision for loan losses is determined by management based upon its evaluation of the amount needed to maintain the allowance for loan losses at a level considered appropriate in relation to the estimated risk of losses inherent in the portfolio. Current methodology used by management to estimate the allowance takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, historic categorical trends, current delinquency levels as related to historical levels, portfolio growth rates, changes in composition of the portfolio, the current economic environment, as well as current allowance adequacy in relation to the portfolio. Management is cognizant that reliance on historical information coupled with the cyclical nature of the economy, including credit cycles, affects the allowance. Management considers all of these factors prior to making any adjustments to the allowance due to the subjectivity and imprecision involved in allocation methodology. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are specifically reviewed for impairment. For such loans, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers loans not specifically reviewed for impairment and homogeneous loan pools, such as residential real estate and consumer loans. The general component is measured for each loan category separately based on each category’s average of historical loss experience over a trailing sixty month period, adjusted for qualitative factors. Such qualitative factors may include current economic conditions if different from the five-year historical loss period, trends in underperforming loans, trends in volume and terms of loan categories, concentrations of credit, and trends in loan quality. A loan is considered impaired when management believes, based on current information and events, it is probable that the Bank will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. An impaired loan is measured by the present value of expected future cash flows using the loan's effective interest rate. An impaired collateral-dependent loan may be measured based on collateral value. Smaller-balance homogeneous loans, including residential mortgage and consumer installment loans, which are not evaluated individually are collectively evaluated for impairment. PREMISES AND EQUIPMENT Premises and equipment are stated at cost less accumulated depreciation. Land is stated at cost. Depreciation is computed on both the straight-line and accelerated methods over the estimated useful lives of the assets, generally 15 to 40 years for premises and 3 to 10 years for equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Costs incurred for maintenance and repairs are expensed as incurred. Premises and equipment are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be recoverable. LEASES FASB Accounting Standards Update ("ASU") No. 2016-02, "Leases (Topic 842)," was adopted by LCNB as of January 1, 2019. It requires a lessee to recognize in the statement of financial position a liability to make lease payments ("the lease liability") and a right-of-use asset representing its right to use the underlying asset for the lease term, initially measured at the present value of the lease payments. When measuring assets and liabilities arising from a lease, the lessee should include payments to be made in optional periods only if the lessee is reasonably certain, as defined, to exercise an option to the lease or not to exercise an option to terminate the lease. Optional payments to purchase the underlying asset should be included if the lessee is reasonably certain it will exercise the purchase option. Most variable lease payments should be excluded except for those that depend on an index or a rate or are in substance fixed payments. A lessee shall classify a lease as a finance lease if it meets any of five designated criteria. If the lease does not meet any of the five criteria, the lessee shall classify it as an operating lease. All leases entered into by LCNB through December 31, 2020 are classified as operating leases. Lessees shall recognize a single lease cost on a straight-line basis over the lease term for operating leases. LCNB has adopted an accounting policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. Lease expense for such leases will generally be recognized on a straight-line basis over the lease term. OTHER REAL ESTATE OWNED Other real estate owned includes properties acquired through foreclosure. Such property is held for sale and is initially recorded at fair value, less costs to sell, establishing a new cost basis. Fair value is primarily based on a property appraisal obtained at the time of transfer and any periodic updates that may be obtained thereafter. The allowance for loan losses is charged for any write down of the loan’s carrying value to fair value at the date of transfer. Any subsequent reductions in fair value and expenses incurred from holding other real estate owned are charged to other non-interest expense. Costs, excluding interest, relating to the improvement of other real estate owned are capitalized. Gains and losses from the sale of other real estate owned are included in other non-interest expense. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill is the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is not amortized, but is instead subject to an annual review for impairment. A review for impairment may be conducted more frequently than annually if circumstances indicate a possible impairment. Impairment indicators that may be considered include the condition of the economy and banking industry; estimated future cash flows; government intervention and regulatory updates; the impact of recent events to financial performance and cost factors of the reporting unit; performance of LCNB’s stock, and other relevant events. These and other factors could lead to a conclusion that goodwill is impaired, which would require LCNB to write off the difference between the estimated fair value of the company and the carrying value. Mortgage servicing rights on originated mortgage loans that have been sold are initially recorded at their estimated fair values. Mortgage servicing rights are amortized to loan servicing income in proportion to and over the period of estimated servicing income. Such assets are periodically evaluated as to the recoverability of their carrying value. The Company’s other intangible assets relate to core deposits acquired from business combinations. These intangible assets are amortized on a straight-line basis over their estimated useful lives. Management evaluates whether events or circumstances have occurred that indicate the remaining useful life or carrying value of the amortizing intangible should be revised. BANK OWNED LIFE INSURANCE The Company has purchased life insurance policies on certain officers of the Company. The Company is the beneficiary of these policies and has recorded the estimated cash surrender value in other assets in the Consolidated Balance Sheets. Income on the policies, based on the increase in cash surrender value and any incremental death benefits, is included in non-interest income in the Consolidated Statements of Income. AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP LCNB has elected to account for its investment in an affordable housing tax credit limited partnership using the proportional amortization method described in "ASU 2014-01, "Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (A Consensus of the FASB Emerging Issues Task Force)." Under the proportional amortization method, an investor amortizes the initial cost of the investment to income tax expense in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The investment in the limited partnership is included in other assets and the unfunded amount is included in accrued interest and other liabilities in LCNB's Consolidated Balance Sheets. FAIR VALUE MEASUREMENTS Accounting guidance establishes a fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. A financial instrument’s level within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The three broad input levels are: •Level 1 – quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the reporting date; •Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability either directly or indirectly; and •Level 3 - inputs that are unobservable for the asset or liability. Accounting guidance permits, but does not require, companies to measure many financial instruments and certain other items, including loans and debt securities, at fair value. The decision to elect the fair value option is made individually for each instrument and is irrevocable once made. Changes in fair value for the selected instruments are recorded in earnings. The Company did not select any financial instruments for the fair value election in 2020 or 2019. ADVERTISING EXPENSE Advertising costs are expensed as incurred and are recorded as a marketing expense, a component of non-interest expense. PENSION PLANS Eligible employees of the Company hired before 2009 participate in a multiple-employer qualified noncontributory defined benefit retirement plan. This plan is accounted for as a multi-employer plan because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Citizens National had a qualified noncontributory, defined benefit pension plan, which has been assumed by the Company, that covers eligible employees hired before May 1, 2005. This is a single employer plan. TREASURY STOCK Common shares repurchased are recorded at cost. Cost of shares retired or reissued is determined using the weighted average method. STOCK OPTIONS AND RESTRICTED STOCK AWARD PLANS The cost of employee services received in exchange for stock option grants is the grant-date fair value of the award estimated using an option-pricing model. The compensation cost for restricted stock awards is based on the market price of the Company's common stock at the date of grant multiplied by the number of shares granted that are expected to vest. The estimated cost is recognized on a straight-line basis over the period the employee is required to provide services in exchange for the award, usually the vesting period. The Company uses a Black-Scholes pricing model and related assumptions for estimating the fair value of stock option grants and a five-year vesting period for stock options and restricted stock. REVENUE RECOGNITION FASB ASC No. 606, "Revenue from Contracts with Customers" ("ASC No. 606") provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance enumerates five steps that entities should follow in achieving this core principle. Revenue generated from financial instruments, including loans and investment securities, are not included in the scope of ASC No. 606. The adoption of ASC No. 606 did not result in a change to the accounting for any of LCNB's revenue streams that are within the scope of the amendments. Revenue-generating activities that are within the scope of ASC 606 and that are presented as non-interest income in LCNB's Consolidated Statements of Income include: •Fiduciary income - this includes periodic fees due from Wealth Management and Investment Services customers for managing the customers' financial assets. Fees are generally charged on a quarterly or annual basis and are recognized ratably throughout the period, as the services are provided on an ongoing basis. •Service charges and fees on deposit accounts - these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer, or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. INCOME TAXES Deferred income taxes are determined using the asset and liability method of accounting. Under this method, the net deferred tax asset or liability is determined based on the tax effects of temporary differences between the book and tax basis of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. Management analyzes material tax positions taken in any income tax return for any tax jurisdiction and determines the likelihood of the positions being sustained in a tax examination. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. EARNINGS PER SHARE Basic earnings per share allocated to common shareholders is calculated using the two-class method and is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is adjusted for the dilutive effects of stock based compensation and is calculated using the two-class method or the treasury stock method. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock based compensation with the proceeds used to purchase treasury shares at the average market price for the period. ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ASU No. 2017-04 was issued in January 2017 and was adopted by LCNB as of January 1, 2020. It applies to public and other entities that have goodwill reported in their financial statements. To simplify the subsequent measurement of goodwill, this ASU eliminates Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Adoption of ASU No. 2017-04 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement" ASU No. 2018-13 was issued in August 2018 and was adopted by LCNB as of January 1, 2020. It applies to all entities that are required to make disclosures about recurring or nonrecurring fair value measurements. The amendments in this update modify fair value disclosure requirements, including the deletion, modification, and addition of certain targeted disclosures. Adoption of ASU No. 2018-13 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" ASU No. 2018-15 was issued in August 2018 and was adopted by LCNB on January 1, 2020. It applies to entities that are a customer in a hosting arrangement, as defined, that is accounted for as a service contract. The amendments in this update require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. Capitalized implementation costs are to be expensed over the term of the hosting arrangement. Adoption of ASU No. 2018-15 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ASU No. 2020-04 was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying generally accepted accounting principles ("GAAP") to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. LCNB does not expect the guidance in ASU No. 2020-04 will have a material impact on its results of consolidated operations or financial position. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET EFFECTIVE From time to time the FASB issues an ASU to communicate changes to U.S. generally accepted accounting principles. The following information provides brief summaries of newly issued but not yet effective ASUs that could have an effect on LCNB’s financial position or results of consolidated operations: ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ASU No. 2016-13 was issued in June 2016 and, once effective, will significantly change current guidance for recognizing impairment of financial instruments. Current guidance requires an "incurred loss" methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. ASU No. 2016-13 replaces the incurred loss impairment methodology with a new current expected credit loss ("CECL") methodology that reflects expected credit losses over the lives of the loans and requires consideration of a broader range of information to inform credit loss estimates. The ASU requires an organization to estimate all expected credit losses for financial assets measured at amortized cost, including loans and held-to-maturity debt securities, based on historical experience, current conditions, and reasonable and supportable forecasts. Additional disclosures are required. ASU No. 2016-13 also amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. Under the new guidance, entities will determine whether all or a portion of the unrealized loss on an available-for-sale debt security is a credit loss. Any credit loss will be recognized as an allowance for credit losses on available-for-sale debt securities rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. As a result, entities will recognize improvements to estimated credit losses on available-for-sale debt securities immediately in earnings rather than as interest income over time, as currently required. ASU No. 2016-13 eliminates the current accounting model for purchased credit impaired loans and debt securities. Instead, purchased financial assets with credit deterioration will be recorded gross of estimated credit losses as of the date of acquisition and the estimated credit losses amounts will be added to the allowance for credit losses. Thereafter, entities will account for additional impairment of such purchased assets using the models listed above. Originally, ASU No. 2016-13 would have taken effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. At their meeting on October 16, 2019, FASB approved a final ASU delaying the effective date for several major standards, including ASU No. 2016-13, if certain qualifications are met. The new effective date for SEC filers eligible to be smaller reporting companies ("SRC"), as defined, will be fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is permitted. As an SRC, LCNB intends to adopt ASU No. 2016-13 for the fiscal year, and interim periods within the fiscal year, beginning after December 15, 2022. LCNB has created a cross-functional CECL Committee, which reports to the Audit Committee, composed of members from the lending, Wealth Management, and finance departments. During 2017, the CECL Committee selected a vendor to assist in implementation of and ongoing compliance with the new requirements. It has completed analyzing its data collection efforts, selected a calculation model, analyzed its pool segmentation and reporting mechanisms, and has recently finished back testing in preparation for adoption of the new methodology. While the committee and management expect that the implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses, they are continuing to evaluate the potential impact on LCNB's results of operations and financial position. The financial statement impact of this new standard cannot be reasonably estimated at this time. ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" ASU No. 2018-14 was issued in August 2018. The amendments in this update modify disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans, including the deletion, modification, and addition of certain targeted disclosures. The amendments are effective for public business entities for fiscal years beginning after December 15, 2020. Early adoption is permitted. The amendments are to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 will not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ASU No. 2019-12 was issued in December 2019 and simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends certain other guidance. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period. Adoption of ASU No. 2019-12 is not expected to have a material impact on LCNB's results of consolidated operations or financial position.

INVESTMENT SECURITIES

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

The amortized cost and estimated fair value of equity and debt securities at December 31 are summarized as follows (in thousands):


	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
2020
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	2,268	120	—	2,388
U.S. Agency notes	66,983		950	33	67,900
Corporate Bonds	1,200		—	21	1,179
U.S. Agency mortgage-backed securities	88,455		3,180	1	91,634

Municipal securities:
Non-taxable	12,651		282	—	12,933
Taxable	32,409		1,031	3	33,437
	$	203,966	5,563	58	209,471

Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	21,408	181	—	21,589
Taxable	3,402		6	37	3,371
	$	24,810	187	37	24,960

2019
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	2,273	36	—	2,309
U.S. Agency notes	48,745		273	34	48,984
U.S. Agency mortgage-backed securities	83,977		672	243	84,406

Municipal securities:
Non-taxable	22,174		161	14	22,321
Taxable	19,746		269	35	19,980
	$	176,915	1,411	326	178,000

Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	24,300	343	5	24,638
Taxable	3,225		25	—	3,250
	$	27,525	368	5	27,888

Information concerning debt securities with gross unrealized losses at December 31, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):


	Less Than Twelve Months			Twelve Months or More
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses
2020
Available-for-Sale:

U.S. Agency notes	$	10,674	33	—	—
Corporate Bonds	679		21	—	—
U.S. Agency mortgage-backed securities	290		1	—	—
Municipal securities:
Non-taxable	38		—	—	—
Taxable	3,063		3	—	—
	$	14,744	58	—	—

Held-to-Maturity:
Municipal securities:
Non-taxable	$	1	—	—	—
Taxable	3,113		37	—	—
	$	3,114	37	—	—

2019
Available-for-Sale:

U.S. Agency notes	$	3,586	11	11,939	23
U.S. Agency mortgage-backed securities	10,555		10	19,233	233
Municipal securities:
Non-taxable	2,631		2	1,257	12
Taxable	5,067		35	450	—
	$	21,839	58	32,879	268

Held-to-Maturity:
Municipal securities:
Non-taxable	$	54	—	2,660	5
Taxable	—		—	—	—
	$	54	—	2,660	5

Management has determined that the unrealized losses at December 31, 2020 are primarily due to fluctuations in market interest rates and do not reflect credit quality deterioration of the securities. Because the Company does not have the intent to sell the investments and it is more likely than not that the Company will not be required to sell the investments before recovery of their amortized cost, the Company does not consider these investments to be other-than-temporarily impaired.

Contractual maturities of debt securities at December 31, 2020 were as follows (in thousands). Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.


	Available-for-Sale			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Due within one year	$	3,795	3,846	2,135	2,144
Due from one to five years	47,699		48,838	5,676	5,758
Due from five to ten years	63,288		64,417	2,055	2,097
Due after ten years	729		736	14,944	14,961
	115,511		117,837	24,810	24,960
U.S. Agency mortgage-backed securities	88,455		91,634	—	—
	$	203,966	209,471	24,810	24,960

Debt securities with a market value of $118,599,000 and $123,009,000 at December 31, 2020 and 2019, respectively, were pledged to secure public deposits and for other purposes required or permitted by law.

Certain information concerning the sale of debt securities available-for-sale for the years ended December 31 was as follows (in thousands):


	2020		2019	2018
Proceeds from sales	$	8,786	84,521	8,545
Gross realized gains	221		228	21
Gross realized losses	—		269	29

Equity securities with a readily determinable fair value are carried at fair value, with changes in fair value recognized in other operating income in the Consolidated Statements of Income. Equity securities without a readily determinable fair value are measured at cost minus impairment, if any, plus or minus any changes resulting from observable price changes in orderly transactions, as defined, for identical or similar investments of the same issuer. LCNB was not aware of any impairment or observable price change adjustments that needed to be made at December 31, 2020 on its investments in equity securities without a readily determinable fair value.

The amortized cost and estimated fair value of equity securities with a readily determinable fair value at December 31 are summarized as follows (in thousands):


	2020			2019
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Mutual funds	$	1,395	1,402	1,371	1,345
Equity securities	778		987	741	967
Total equity securities with a readily determinable fair value	$	2,173	2,389	2,112	2,312

Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the years ended December 31 was as follows (in thousands):


	2020		2019
Net gains recognized	$	675	264
Less net realized gains on equity securities sold	658		21
Unrealized gains recognized and still held at period end	$	17	243

LOANS

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

LOANS

Major classifications of loans at December 31 were as follows (in thousands):


	2020		2019
Commercial and industrial	$	100,254	78,306
Commercial, secured by real estate	843,230		804,953
Residential real estate	309,692		322,533
Consumer	36,917		25,232
Agricultural	10,100		11,509
Other loans, including deposit overdrafts	363		1,193
	1,300,556		1,243,726
Deferred origination fees, net	(1,135)		(275)
	1,299,421		1,243,451
Less allowance for loan losses	5,728		4,045
Loans-net	$	1,293,693	1,239,406

Non-accrual, past-due, and accruing restructured loans at December 31 were as follows (dollars in thousands):


	2020			2019
Non-accrual loans:
Commercial and industrial	$	—		—
Commercial, secured by real estate	2,458			2,467
Residential real estate	1,260			743
Agricultural	—			—
Total non-accrual loans	3,718			3,210
Past-due 90 days or more and still accruing	—			—
Total non-accrual and past-due 90 days or more and still accruing	3,718			3,210
Accruing restructured loans	5,176			6,609
Total	$	8,894		9,819

Percentage of total non-accrual and past-due 90 days or more and still accruing to total loans	0.29		%	0.26	%

Percentage of total non-accrual, past-due 90 days or more and still accruing, and accruing restructured loans to total loans	0.68		%	0.79	%

Interest income that would have been recorded during 2020 and 2019 if loans on non-accrual status at December 31, 2020 and 2019 had been current and in accordance with their original terms was approximately $134,000 and $75,000, respectively.

LCNB is not committed to lend additional funds to debtors whose loans have been modified to provide a reduction or deferral of principal or interest because of deterioration in the financial position of the borrower.

The allowance for loan losses and recorded investment in loans for the years ended December 31 were as follows (in thousands):


	Commercial & Industrial		Commercial, Secured by Real Estate	Residential Real Estate	Consumer	Agricultural	Other	Total
2020
Allowance for loan losses:
Balance, beginning of year	$	456	2,924	528	99	34	4	4,045
Provision charged to expenses	342		1,332	239	62	(6)	45	2,014
Losses charged off	(13)		(353)	(5)	(30)	—	(140)	(541)
Recoveries	31		—	75	22	—	82	210
Balance, end of year	$	816	3,903	837	153	28	(9)	5,728

Individually evaluated for impairment	$	8	17	27	—	—	—	52
Collectively evaluated for impairment	808		3,886	810	153	28	(9)	5,676
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	816	3,903	837	153	28	(9)	5,728

Loans:
Individually evaluated for impairment	$	194	6,613	1,641	5	—	—	8,453
Collectively evaluated for impairment	99,040		833,548	306,138	37,047	10,116	179	1,286,068
Acquired credit impaired loans	362		2,048	2,306	—	—	184	4,900
Balance, end of year	$	99,596	842,209	310,085	37,052	10,116	363	1,299,421

2019
Allowance for loan losses:
Balance, beginning of year	$	400	2,745	767	87	46	1	4,046
Provision charged to expenses	103		266	(264)	4	(12)	110	207
Losses charged off	(47)		(143)	(272)	(24)	—	(181)	(667)
Recoveries	—		56	297	32	—	74	459
Balance, end of year	$	456	2,924	528	99	34	4	4,045

Individually evaluated for impairment	$	6	272	17	—	—	—	295
Collectively evaluated for impairment	450		2,652	511	99	34	4	3,750
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	456	2,924	528	99	34	4	4,045

Loans:
Individually evaluated for impairment	$	230	7,432	949	27	—	—	8,638
Collectively evaluated for impairment	77,430		793,191	319,188	25,328	11,523	930	1,227,590
Acquired credit impaired loans	711		3,531	2,718	—	—	263	7,223
Balance, end of year	$	78,371	804,154	322,855	25,355	11,523	1,193	1,243,451


	Commercial & Industrial		Commercial, Secured by Real Estate	Residential Real Estate	Consumer	Agricultural	Other	Total
2018
Allowance for loan losses:
Balance, beginning of year	$	378	2,178	717	76	53	1	3,403
Provision charged to expenses	21		473	213	133	(7)	90	923
Losses charged off	—		(145)	(234)	(135)	—	(179)	(693)
Recoveries	1		239	71	13	—	89	413
Balance, end of year	$	400	2,745	767	87	46	1	4,046

Individually evaluated for impairment	$	10	3	49	—	—	—	62
Collectively evaluated for impairment	390		2,742	718	87	46	1	3,984
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	400	2,745	767	87	46	1	4,046

The risk characteristics of LCNB's material loan portfolio segments were as follows:

Commercial and Industrial Loans. LCNB’s commercial and industrial loan portfolio consists of loans for various purposes, including loans to fund working capital requirements (such as inventory and receivables financing) and purchases of machinery and equipment. LCNB offers a variety of commercial and industrial loan arrangements, including term loans, balloon loans, and lines of credit. Most commercial and industrial loans have a fixed rate, with maturities ranging from one year to ten years. Commercial and industrial loans are offered to businesses and professionals for short and medium terms on both a collateralized and uncollateralized basis. Commercial and industrial loans typically are underwritten on the basis of the borrower’s ability to make repayment from the cash flow of the business. Collateral, when obtained, may include liens on furniture, fixtures, equipment, inventory, receivables, or other assets. As a result, such loans involve complexities, variables, and risks that require thorough underwriting and more robust servicing than other types of loans.

This category includes PPP loans that were authorized under the CARES Act. The PPP was implemented by the SBA with support from the Department of the Treasury and provided small businesses that were negatively impacted by the COVID-19 pandemic with government guaranteed and potentially forgivable loans that could be used to pay up to eight or twenty-four weeks, depending on the date of the loan, of payroll costs including benefits. Funds could also be used to pay interest on mortgages, rent, and utilities. PPP loans made by LCNB have a maturity of two years and an interest rate of 1%. In addition, the SBA pays originating lenders processing fees based on the size of the loan, ranging from 1% to 5% of the loan amount. A borrower who meets certain requirements can request loan forgiveness from the SBA. If loan forgiveness is granted, the SBA will forward the forgiveness amount to the lender.

Commercial, Secured by Real Estate Loans. Commercial real estate loans include loans secured by a variety of commercial, retail, and office buildings, religious facilities, multifamily (more than four-family) residential properties, construction and land development loans, and other land loans. Commercial real estate loan products generally amortize over five to twenty-five years and are payable in monthly principal and interest installments. Some have balloon payments due within one to ten years after the origination date. The majority have adjustable interest rates with adjustment periods ranging from one to ten years, some of which are subject to established “floor” interest rates.

Commercial real estate loans are underwritten based on the ability of the property, in the case of income producing property, or the borrower’s business to generate sufficient cash flow to amortize the debt. Secondary emphasis is placed upon global debt service, collateral value, financial strength of any and all guarantors, and other factors. Commercial real estate loans are generally originated with a 75% to 85% maximum loan to appraised value ratio, depending upon borrower occupancy.

Residential Real Estate Loans. Residential real estate loans include loans secured by first or second mortgage liens on one to four-family residential property. Home equity lines of credit and mortgage loans secured by owner-occupied agricultural property are included in this category. First and second mortgage loans are generally amortized over five to thirty years with monthly principal and interest payments. Home equity lines of credit generally have a five year or less draw period with interest only payments followed by a repayment period with monthly payments based on the amount outstanding. LCNB offers both fixed and adjustable rate mortgage loans. Adjustable rate loans are available with adjustment periods ranging between one to ten years and adjust according to an established index plus a margin, subject to certain floor and ceiling rates. Home equity lines of credit have a variable rate based on the Wall Street Journal prime rate plus a margin.

Residential real estate loans are underwritten primarily based on the borrower’s ability to repay, prior credit history, and the value of the collateral. LCNB requires private mortgage insurance for first mortgage loans that have a loan to appraised value ratio of greater than 80%.

Consumer Loans. LCNB’s portfolio of consumer loans generally includes secured and unsecured loans to individuals for household, family and other personal expenditures. Secured loans include loans to fund the purchase of automobiles, recreational vehicles, boats, and similar acquisitions. Consumer loans made by LCNB generally have fixed rates and terms ranging up to 72 months, depending upon the nature of the collateral, size of the loan, and other relevant factors.

Consumer loans generally have higher interest rates and can pose additional risks of collectability and loss when compared to certain other types of loans. Collateral, if present, is generally subject to damage, wear, and depreciation. The borrower’s credit and ability to repay are of primary importance in the underwriting of consumer loans.

Agricultural Loans. LCNB’s portfolio of agricultural loans includes loans for financing agricultural production or for financing the purchase of equipment used in the production of agricultural products. LCNB’s agricultural loans are generally secured by farm machinery, livestock, crops, vehicles, or other agricultural-related collateral.

LCNB uses a risk-rating system to quantify loan quality. A loan is assigned to a risk category based on relevant information about the ability of the borrower to service the debt including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The categories used are:

•Pass – loans categorized in this category are higher quality loans that do not fit any of the other categories described below.

•Other Assets Especially Mentioned (OAEM) - loans in this category are currently protected but are potentially weak. These loans constitute a risk but not to the point of justifying a classification of substandard. The credit risk may be relatively minor yet constitute an undue risk in light of the circumstances surrounding a specific asset.

•Substandard – loans in this category are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the possibility that the Company will sustain some loss if the deficiencies are not corrected.

•Doubtful – loans classified in this category have all the weaknesses inherent in loans classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

An analysis of the Company’s loan portfolio by credit quality indicators at December 31 is as follows (in thousands):


	Pass		OAEM	Substandard	Doubtful	Total
2020
Commercial & industrial	$	97,391	—	2,205	—	99,596
Commercial, secured by real estate	811,558		9,279	21,372	—	842,209
Residential real estate	306,092		1,005	2,988	—	310,085
Consumer	37,050		—	2	—	37,052
Agricultural	10,116		—	—	—	10,116
Other	363		—	—	—	363
Total	$	1,262,570	10,284	26,567	—	1,299,421

2019
Commercial & industrial	$	76,236	233	1,902	—	78,371
Commercial, secured by real estate	789,319		3,007	11,828	—	804,154
Residential real estate	319,075		267	3,513	—	322,855
Consumer	25,342		—	13	—	25,355
Agricultural	11,523		—	—	—	11,523
Other	1,193		—	—	—	1,193
Total	$	1,222,688	3,507	17,256	—	1,243,451

The Company evaluates the loan risk grading system definitions and allowance for loan loss methodology on an ongoing basis. No significant changes were made to either during the past year.

A loan portfolio aging analysis at December 31 is as follows (in thousands):


	30-59 Days Past Due		60-89 Days Past Due	Greater Than 90 Days	Total Past Due	Current	Total Loans Receivable	Total Loans Greater Than 90 Days and Accruing
2020
Commercial & industrial	$	—	—	—	—	99,596	99,596	—
Commercial, secured by real estate	16		—	1,476	1,492	840,717	842,209	—
Residential real estate	497		219	675	1,391	308,694	310,085	—
Consumer	4		1	—	5	37,047	37,052	—
Agricultural	—		—	—	—	10,116	10,116	—
Other	60		—	—	60	303	363	—
Total	$	577	220	2,151	2,948	1,296,473	1,299,421	—

2019
Commercial & industrial	$	283	—	—	283	78,088	78,371	—
Commercial, secured by real estate	339		—	1,171	1,510	802,644	804,154	—
Residential real estate	1,573		260	423	2,256	320,599	322,855	—
Consumer	27		9	—	36	25,319	25,355	—
Agricultural	—		—	—	—	11,523	11,523	—
Other	930		—	—	930	263	1,193	—
Total	$	3,152	269	1,594	5,015	1,238,436	1,243,451	—

Impaired loans, including acquired credit impaired loans, for the years ended December 31 were as follows (in thousands):


	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2020
With no related allowance recorded:
Commercial & industrial	$	362	646	—	1,044	335
Commercial, secured by real estate	6,050		6,735	—	7,070	731
Residential real estate	3,261		3,695	—	3,290	316
Consumer	4		4	—	10	1
Agricultural	—		—	—	—	—
Other	184		297	—	234	36
Total	$	9,861	11,377	—	11,648	1,419

With an allowance recorded:
Commercial & industrial	$	194	199	8	212	12
Commercial, secured by real estate	2,611		2,908	17	1,517	18
Residential real estate	686		687	27	404	18
Consumer	1		1	—	3	—
Agricultural	—		—	—	—	—
Other	—		—	—	—	—
Total	$	3,492	3,795	52	2,136	48

Total:
Commercial & industrial	$	556	845	8	1,256	347
Commercial, secured by real estate	8,661		9,643	17	8,587	749
Residential real estate	3,947		4,382	27	3,694	334
Consumer	5		5	—	13	1
Agricultural	—		—	—	—	—
Other	184		297	—	234	36
Total	$	13,353	15,172	52	13,784	1,467


	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2019
With no related allowance recorded:
Commercial & industrial	$	711	1,253	—	836	83
Commercial, secured by real estate	8,625		9,373	—	12,748	1,213
Residential real estate	3,118		3,651	—	3,704	311
Consumer	10		10	—	12	1
Agricultural	—		—	—	—	—
Other	263		392	—	310	35
Total	$	12,727	14,679	—	17,610	1,643

With an allowance recorded:
Commercial & industrial	$	230	235	6	247	15
Commercial, secured by real estate	2,338		2,485	272	2,513	64
Residential real estate	549		549	17	528	35
Consumer	17		17	—	20	1
Agricultural	—		—	—	—	—
Other	—		—	—	—	—
Total	$	3,134	3,286	295	3,308	115

Total:
Commercial & industrial	$	941	1,488	6	1,083	98
Commercial, secured by real estate	10,963		11,858	272	15,261	1,277
Residential real estate	3,667		4,200	17	4,232	346
Consumer	27		27	—	32	2
Agricultural	—		—	—	—	—
Other	263		392	—	310	35
Total	$	15,861	17,965	295	20,918	1,758


	Average Recorded Investment		Interest Income Recognized
2018
With no related allowance recorded:
Commercial & industrial	$	945	71
Commercial, secured by real estate	17,353		1,136
Residential real estate	3,580		258
Consumer	32		3
Agricultural	177		—
Other	379		41
Total	$	22,466	1,509

With an allowance recorded:
Commercial & industrial	$	279	17
Commercial, secured by real estate	153		11
Residential real estate	583		37
Consumer	24		1
Agricultural	—		—
Other	—		—
Total	$	1,039	66

Total:
Commercial & industrial	$	1,224	88
Commercial, secured by real estate	17,506		1,147
Residential real estate	4,163		295
Consumer	56		4
Agricultural	177		—
Other	379		41
Total	$	23,505	1,575

Of the interest income recognized on impaired loans during 2020, 2019, and 2018, approximately $34,000, $42,000, and $89,000, respectively, were recognized on a cash basis. The Company continued to accrue interest on certain loans classified as impaired during 2020, 2019, and 2018 because they were restructured or considered well secured and in the process of collection.

From time to time, the terms of certain loans are modified as troubled debt restructurings ("TDRs") where concessions are granted to borrowers experiencing financial difficulties. The modification of the terms of such loans may have included one, or a combination of, the following: a temporary or permanent reduction of the stated interest rate of the loan, an increase in the stated rate of interest lower than the current market rate for new debt with similar risk, forgiveness of principal, an extension of the maturity date, or a change in the payment terms.

Loan modifications that were classified as troubled debt restructurings during the years ended December 31 were as follows (dollars in thousands):


	2020					2019
	Number of Loans	Pre-Modification Recorded Balance		Post-Modification Recorded Balance		Number of Loans	Pre-Modification Recorded Balance		Post-Modification Recorded Balance
Commercial and industrial	1	$	5	$	4	—	$	—	$	—
Commercial, secured by real estate	1	1,525		1,525		2	258		258
Residential real estate	1	14		14		3	120		120
Consumer	—	—		—		—	—		—
Totals	3	$	1,544	$	1,543	5	$	378	$	378

Post-modification balances of newly restructured troubled debt by type of modification for the years ended December 31 were as follows (in thousands):


	Term Modification		Rate Modification	Interest Only	Principal Forgiveness	Combination	Total Modifications
2020
Commercial & industrial	$	—	—	—	—	4	4
Commercial, secured by real estate	—		—	—	—	1,525	1,525
Residential real estate	—		—	—	—	14	14
Consumer	—		—	—	—	—	—
Total	$	—	—	—	—	1,543	1,543

2019
Commercial & industrial	$	—	—	—	—	—	—
Commercial, secured by real estate	—		—	—	—	258	258
Residential real estate	120		—	—	—	—	120
Consumer	—		—	—	—	—	—
Total	$	120	—	—	—	258	378

LCNB is not committed to lend additional funds to borrowers whose loan terms were modified in a troubled debt restructuring.

There were no troubled debt restructurings that subsequently defaulted within twelve months of the restructuring date for the years ended December 31, 2020, 2019, or 2018.

All troubled debt restructurings are considered impaired loans. The allowance for loan loss on such restructured loans is based on the present value of future expected cash flows.

Information concerning the post-modification balances of loans that were modified during the year ended December 31 and that were determined to be troubled debt restructurings follows (in thousands):


	2020	2019
Impaired loans without a valuation allowance at the end of the period	4	252
Impaired loans with a valuation allowance at the end of the period	1,539	89

The CARES Act includes a provision that permits a financial institution to elect to suspend temporarily troubled debt restructuring accounting under FASB ASC Subtopic 310-40 in certain circumstances (“Section 4013”). To be eligible under Section 4013, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the National Emergency or (B) December 31, 2020.

In response to this section of the CARES Act, the federal banking agencies issued a revised interagency statement on April 7, 2020 that, in consultation with the FASB, confirmed that, for loans not subject to section 4013, short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not troubled debt restructurings under ASC Subtopic 310-40. This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented.

As of December 31, 2020, seven loans with a carrying value totaling $19.0 million that had been modified under the provisions of Section 4013 were outstanding. From the beginning of the pandemic through December 31, 2020, deferments were granted to 600 loans totaling approximately $401.7 million using the guidance provided in the revised interagency statement. Most of these loans have returned to full payment status. At December 31, 2020, three loans with a carrying value of $1.6 million that had been modified under the provisions of the revised interagency statement remained outstanding.

Mortgage loans sold to and serviced for the Federal Home Loan Mortgage Corporation and other investors are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balances of those loans at December 31, 2020 and 2019 were approximately $137,188,000 and $93,596,000, respectively.

Mortgage servicing right assets are included in core deposit and other intangibles in the Consolidated Balance Sheets. Amortization of mortgage servicing rights is an adjustment to loan servicing income, which is included with other operating income in the Consolidated Statements of Income. Activity in the mortgage servicing rights portfolio during the years ended December 31 was as follows (in thousands):


	2020		2019	2018
Balance, beginning of year	$	483	475	396
Amount obtained through a merger	—		—	91
Amount capitalized to mortgage servicing rights	719		156	113
Amortization of mortgage servicing rights	(226)		(148)	(125)
Balance, end of year	$	976	483	475

ACQUIRED CREDIT IMPAIRED LOANS

12 Months Ended

Dec. 31, 2020

Acquired Credit Impaired Loans [Abstract]

ACQUIRED CREDIT IMPAIRED LOANS

Loans acquired through mergers are recorded at fair value with no carryover of the acquired entity's previously established allowance for loan losses. The excess of expected cash flows over the estimated fair value of acquired loans is recognized as interest income over the remaining contractual lives of the loans using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows result in the recognition of additional interest income over the then-remaining contractual lives of the loans.

Impaired loans acquired are accounted for under FASB ASC No. 310-30. Factors considered in evaluating whether an acquired loan was impaired include delinquency status and history, updated borrower credit status, collateral information, and updated loan-to-value information. The difference between contractually required payments at the time of acquisition and the cash flows expected to be collected is referred to as the nonaccretable difference. The interest component of the cash flows expected to be collected is referred to as the accretable yield and is recognized as interest income over the remaining contractual life of the loan using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows will result in a reclassification from the nonaccretable difference to the accretable yield.

The following table provides, as of December 31, the major classifications of loans acquired that are accounted for in accordance with FASB ASC 310-30 (in thousands):


	2020		2019
Acquired from First Capital Bancshares, Inc.
Commercial & industrial	$	1	5
Commercial, secured by real estate	—		792
Residential real estate	449		551
Other loans, including deposit overdrafts	—		—
Total	$	450	1,348

Acquired from Eaton National Bank & Trust Co.
Commercial & industrial	$	249	423
Commercial, secured by real estate	601		815
Residential real estate	595		685
Other loans, including deposit overdrafts	184		263
Total	$	1,629	2,186

Acquired from BNB Bancorp, Inc.
Commercial & industrial	$	—	—
Commercial, secured by real estate	780		1,219
Residential real estate	85		100
Other loans, including deposit overdrafts	—		—
Total	$	865	1,319

Acquired from Columbus First Bancorp, Inc.
Commercial & industrial	$	112	283
Commercial, secured by real estate	667		705
Residential real estate	1,177		1,382
Other loans, including deposit overdrafts	—		—
Total	$	1,956	2,370

Total
Commercial & industrial	$	362	711
Commercial, secured by real estate	2,048		3,531
Residential real estate	2,306		2,718
Other loans, including deposit overdrafts	184		263
Total	$	4,900	7,223

The following table provides the outstanding balance and related carrying amount for acquired impaired loans at December 31 (in thousands):


	2020		2019
Outstanding balance	$	6,128	9,139
Carrying amount	4,900		7,223

Activity during 2020 and 2019 for the accretable discount related to acquired impaired loans is as follows (in thousands):


	2020		2019
Accretable discount, beginning of year	$	480	743

Reclass from nonaccretable discount to accretable discount	401		243
Disposals	—		1
Less accretion	(699)		(507)
Accretable discount, end of year	$	182	480

OTHER REAL ESTATE OWNED

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

OTHER REAL ESTATE OWNED

Other real estate owned includes property acquired through foreclosure or deed-in-lieu of foreclosure and are included in other assets in the Consolidated Balance Sheets. Changes in other real estate owned were as follows (in thousands):


	2020		2019
Balance, beginning of year	$	197	244


Reductions due to sales	(197)		—
Reductions due to valuation write downs	—		(47)
Balance, end of year	$	—	197

The total recorded investment in residential consumer mortgage loans secured by residential real estate that was in the process of foreclosure at December 31, 2020 was $62,000.

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

Premises and equipment at December 31 are summarized as follows (in thousands):


	2020		2019
Land	$	7,933	8,000
Buildings	30,789		31,007
Equipment	16,431		16,885
Construction in progress	4,421		2,976
Total	59,574		58,868
Less accumulated depreciation	24,198		24,081
Premises and equipment, net	$	35,376	34,787

Depreciation charged to expense was $1,834,000 in 2020, $1,770,000 in 2019, and $1,776,000 in 2018.

LEASES

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

LCNB has capitalized operating leases for its Otterbein, Fairfield, Barron Street, and Worthington offices, for the land at its Oxford and Oakwood offices, for certain office equipment, and for its ATMs. The Oakwood lease has a remaining term of seventeen years with options to renew for six additional periods of five years each. The Oxford lease has a remaining term of forty-one years with no renewal options. The other leases have remaining terms of less than one year up to six years, some of which contain options to renew the leases for additional five-year periods.

Right-of-use assets represent LCNB's right to use the underlying assets for their lease terms and lease liabilities represent the obligation to make lease payments. They are recognized using the present value of lease payments over the lease terms. The discount rate is LCNB's incremental borrowing rate for periods similar to the respective lease terms. LCNB management is reasonably certain that it will exercise the renewal options for the offices named above and these additional terms have been included in the calculation of the right-of-use assets and the lease liabilities. The lease for the Fairfield office is for a period of one year and LCNB management has elected the short-term measurement and recognition exception permitted by ASC 842 and has not calculated a right-of-use asset or lease liability for this office.

Lease expenses for offices are included in the Consolidated Statements of Income in occupancy expense, net and lease expenses for equipment and ATMs are included in equipment expenses. Components of lease expense for the years ended December 31 are as follows (in thousands):


	2020		2019
Operating lease expense	$	666	561
Short-term lease expense	48		49
Variable lease expense	10		10
Other	7		7
Total lease expense	$	731	627

Other information related to leases at December 31, 2020 were as follows (dollars in thousands):


Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	588
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,388
Weighted average remaining lease term in years for operating leases	33.1
Weighted average discount rate for operating leases	3.43		%

Future payments due under operating leases as of December 31, 2020 are as follows (in thousands):


2021	$	686
2022	548
2023	525
2024	527
2025	348
Thereafter	9,870
	12,504
Less effects of discounting	6,133
Operating lease liabilities recognized	$	6,371

Rental expense for all leased branches and equipment was approximately $731,000 in 2020, $627,000 in 2019, and $519,000 in 2018.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 (in thousands):


	2020		2019
Balance, beginning of year	$	59,221	59,221
Additions from acquisitions	—		—
Balance, end of year	$	59,221	59,221

LCNB performs an impairment test of the carrying value of goodwill annually in the fourth quarter or sooner if circumstances indicate a possible impairment. Impairment indicators that may be considered include the condition of the economy and banking industry; estimated future cash flows; government intervention and regulatory updates; the impact of recent events to financial performance and cost factors of the reporting unit; performance of LCNB’s stock and other relevant events. These and other factors could lead to a conclusion that goodwill is impaired, which would require LCNB to write off the difference between the estimated fair value of the company and the carrying value. Given the current economic environment resulting from the COVID-19 pandemic, the probability of such impairments has increased. Specifically, the market price of LCNB's common stock decreased, similar to decreases experienced by other financial institutions. Accordingly, an interim impairment test was conducted as of June 30, 2020. At the conclusion of the assessment, management determined that fair value exceeded carrying value and that an impairment charge was not necessary at that time. Management will continue to monitor developments regarding the COVID-19 pandemic and measures implemented in response to the pandemic, market capitalization, overall economic conditions and any other triggering events or circumstances that may indicate an impairment of goodwill in the future.

Other intangible assets in the Consolidated Balance Sheets at December 31 were as follows (in thousands):


	2020				2019
	Gross Intangible Assets		Accumulated Amortization	Net Intangible Assets	Gross Intangible Assets	Accumulated Amortization	Net Intangible Assets
Core deposit intangibles	$	8,544	6,067	2,477	8,544	5,021	3,523
Mortgage servicing rights	1,938		962	976	1,237	754	483
Total	$	10,482	7,029	3,453	9,781	5,775	4,006

The estimated aggregate future amortization expense for each of the next five years for intangible assets remaining as of December 31, 2020 is as follows (in thousands):


2021	$	1,211
2022	618
2023	561
2024	436
2025	234

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIPSLCNB is a limited partner in limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of the investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants.

The following table presents the balances of LCNB's affordable housing tax credit investment and related unfunded commitment at December 31 (in thousands):


	2020		2019
Affordable housing tax credit investment	$	12,000	7,000
Less amortization	1,320		810
Net affordable housing tax credit investment	$	10,680	6,190

Unfunded commitment	$	8,237	4,596

The net affordable housing tax credit investment is included in other assets and the unfunded commitment is included in accrued interest and other liabilities in the Consolidated Balance Sheets.

LCNB expects to fund the unfunded commitment over fourteen years.

The following table presents other information relating to LCNB's affordable housing tax credit investment for the years indicated (in thousands):


	Year ended December 31,
	2020		2019	2018
Tax credits and other tax benefits recognized	$	612	387	267
Tax credit amortization expense included in provision for income taxes	510		318	261

CERTIFICATES OF DEPOSIT

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

CERTIFICATES OF DEPOSIT

TIME DEPOSITS

Contractual maturities of time deposits at December 31, 2020 were as follows (in thousands):


2021	$	151,983
2022	38,534
2023	34,689
2024	3,573
2025	8,556
Thereafter	5,335
	$	242,670

The aggregate amount of time deposits in denominations of $250,000 or more at December 31, 2020 and 2019 was $35,584,000 and $52,832,000, respectively.

BORROWINGS

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

BORROWINGS

Funds borrowed from the FHLB at December 31 by year of maturity were as follows (dollars in thousands):


	2020				2019
	Outstanding Balance		Average Rate		Outstanding Balance		Average Rate
Maturing within one year	12,000		2.42	%	18,998		2.40	%
Maturing one year through two years	5,000		2.97	%	11,996		2.42	%
Maturing two years through three years	5,000		3.02	%	5,000		2.97	%
Maturing three years through four years	—		—	%	5,000		3.02	%
Maturing four years through five years	—		—	%	—		—	%

Total	$	22,000	2.68	%	$	40,994	2.55	%

All advances from the FHLB are secured by a blanket pledge of the Company’s 1-4 family first lien mortgage loans in the amount of approximately $276 million and $283 million at December 31, 2020 and 2019, respectively. Total remaining borrowing capacity, including short-term borrowing arrangements, at December 31, 2020 was approximately $178.3 million.

At December 31, 2020, the Company had short-term borrowing arrangements with two financial institutions and the FHLB of Cincinnati. The first arrangement is a short-term line of credit for a maximum amount of $25 million at the interest rate in effect at the time of the borrowing. The second arrangement is a short-term line of credit for a maximum amount of $30 million at an interest rate equal to the lending institution’s federal funds rate plus a spread of 50 basis points. There were no outstanding short-term borrowings as of December 31, 2020 or 2019.

Under the terms of a REPO Based Advance program with the FHLB, the Company can borrow up to $81.7 million in short-term advances, subject to total remaining borrowing capacity limitations. The Company can select terms ranging from one day to one year. The interest rate is the published rate in effect at the time of the advance. This agreement expired on February 12, 2021 and was renewed for another year.

INCOME TAXES

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

The provision for federal income taxes consists of (in thousands):


	2020		2019	2018
Income taxes currently payable	$	3,951	3,694	2,721

Deferred income tax provision	134		419	228
Provision for income taxes	$	4,085	4,113	2,949

A reconciliation between the statutory income tax and the Company's effective tax rate follows:


	2020		2019		2018
Statutory tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) resulting from -
Tax exempt interest	(0.9)	%	(1.4)	%	(3.1)	%
Tax exempt income on bank owned life insurance	(1.3)	%	(0.9)	%	(0.9)	%

Captive insurance premium income	(0.8)	%	(0.8)	%	(0.9)	%
Tax benefit from certain provisions of the CARES Act	(0.8)	%	—	%	—	%
Other – net	(0.3)	%	—	%	0.5	%
Effective tax rate	16.9	%	17.9	%	16.6	%

Deferred tax assets and liabilities, included in the Consolidated Balance Sheets with accrued interest and other liabilities in 2020 and 2019, consist of the following at December 31 (in thousands):


	2020		2019
Deferred tax assets:
Allowance for loan losses	$	1,203	849

Fair value adjustment on loans acquired from mergers	196		451
Write-down of other real estate owned	—		10
Deferred compensation	667		706
Minimum pension liability	81		49
Operating lease right-of-use assets	1,394		1,199
Other	189		313
	3,730		3,577
Deferred tax liabilities:
Depreciation of premises and equipment	(1,673)		(1,621)
Net unrealized gains on investment securities available-for-sale	(1,156)		(228)
Amortization of intangibles	(1,512)		(1,537)
Prepaid expenses	(283)		(246)

FHLB stock dividends	(216)		(216)
Operating lease liabilities	(1,338)		(1,144)
Fair value adjustment on securities acquired from mergers	—		(3)
	(6,178)		(4,995)
Net deferred tax liabilities	$	(2,448)	(1,418)

As of December 31, 2020 and 2019 there were no unrecognized tax benefits and the Company does not anticipate the total amount of unrecognized tax benefits will significantly change within the next twelve months. There were no amounts recognized for interest and penalties in the Consolidated Statements of Income for the three-year period ended December 31, 2020.

The Company is no longer subject to examination by federal tax authorities for years before 2017.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

LCNB is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. They involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheets. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contract amount of those instruments.

The Bounce Protection product, a customer deposit overdraft program, is offered as a service and does not constitute a contract between the customer and LCNB.

LCNB uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments.

Financial instruments whose contract amounts represent off-balance-sheet credit risk at December 31 were as follows (in thousands):


	2020		2019
Commitments to extend credit:
Commercial loans	$	24,581	50,235
Other loans:
Fixed rate	14,668		4,431
Adjustable rate	4,386		1,199
Unused lines of credit:
Fixed rate	24,205		28,796
Adjustable rate	133,073		174,577
Unused overdraft protection amounts on demand and NOW accounts	16,471		16,304
Standby letters of credit	243		883
	$	217,627	276,425

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract or agreement. Unused lines of credit include amounts not drawn on line of credit loans. Commitments to extend credit and unused lines of credit generally have fixed expiration dates or other termination clauses.

Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees generally are fully secured and have varying maturities.

The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include accounts receivable; inventory; property, plant and equipment; residential realty; and income-producing commercial properties.

Capital expenditures include: the construction or acquisition of new office buildings; improvements to LCNB's offices; purchases of furniture and equipment; and additions or improvements to LCNB's information technology system. Commitments outstanding for capital expenditures as of December 31, 2020 totaled approximately $966,000.

The Company and the Bank are parties to various claims and proceedings arising in the normal course of business. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from such proceedings and claims will not be material to LCNB's consolidated financial position or results of operations.

REGULATORY MATTERS

12 Months Ended

Dec. 31, 2020

Regulatory Assets and Liabilities, Other Disclosures [Abstract]

REGULATORY MATTERS

The Federal Reserve Act requires depository institutions to maintain cash reserves with the Federal Reserve Bank. In 2020 and 2019, the Bank maintained average reserve balances of $20,907,000 and $8,518,000, respectively. The reserve balances at December 31, 2020 and 2019 were $16,153,000 and $5,927,000, respectively.

The principal source of income and funds for LCNB Corp. is dividends paid by the Bank. The payment of dividends is subject to restriction by regulatory authorities. For 2021, the restrictions generally limit dividends to the aggregate of net income for the year 2021 plus the net earnings retained for 2020 and 2019. In addition, dividend payments may not reduce capital levels below minimum regulatory guidelines. At December 31, 2020, approximately $9,935,000 of the Bank’s earnings retained was available for dividends in 2021 under this guideline. Dividends in excess of these limitations would require the prior approval of the Comptroller of the Currency.

The Bank must meet certain minimum capital requirements set by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a material effect on the Company's and Bank's financial statements. The Bank’s capital amounts and classification are also subject to qualitative judgments by regulators about components, risk weightings, and other factors.

In addition to the minimum capital requirements, a financial institution needs to maintain a Capital Conservation Buffer composed of Common Equity Tier 1 Capital of at least 2.5% above its minimum risk-weighted capital requirements to avoid limitations on its ability to make capital distributions, including dividend payments to shareholders and certain discretionary bonus payments to executive officers. A financial institution with a buffer below 2.5% will be subject to increasingly stringent limitations on capital distributions as the buffer approaches zero.

For various regulatory purposes, financial institutions are classified into categories based upon capital adequacy:


	Minimum Requirement		Minimum Requirement with Capital Conservation Buffer		To Be Considered Well-Capitalized
Ratio of Common Equity Tier 1 Capital to risk-weighted assets	4.5	%	7.0	%	6.5	%
Ratio of tier 1 capital to risk-weighted assets	6.0	%	8.5	%	8.0	%
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	8.0	%	10.5	%	10.0	%
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)	4.0	%	N/A		5.0	%

As of the most recent notification from its regulators, the Bank was categorized as "well-capitalized" under the regulatory framework for prompt corrective action. Management believes that no conditions or events have occurred since the last notification that would change the Bank's category.

On September 17, 2019, the FDIC finalized a rule that introduced an optional simplified measure of capital adequacy for qualifying community banking organizations, as required by the Economic Growth, Regulatory Relief and Consumer Protection Act. The simplified rule was designed to reduce burden by removing the requirements for calculating and reporting risk-based capital ratios for qualifying community banking organizations that opt into the framework. It could be used beginning with the March 31, 2020 Call Report. Qualifications to use the simplified approach include having a tier 1 leverage ratio of greater than 9%, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. A qualifying community banking organization that opts into the framework and meets all requirements under the framework will be considered to have met the well-capitalized ratio requirements under the Prompt Corrective Action regulations and will not be required to report or calculate risk-based capital. LCNB qualifies to use the simplified measure, but did not opt in for the December 31, 2020 regulatory capital calculations.

A summary of the regulatory capital of the Bank at December 31 follows (dollars in thousands):


	2020			2019
Regulatory Capital:
Shareholders' equity	$	234,092		222,065
Goodwill and other intangible assets	(61,698)			(62,744)
Accumulated other comprehensive (income) loss	(4,043)			(673)
Tier 1 risk-based capital	168,351			158,648
Eligible allowance for loan losses	5,728			4,045
Total risk-based capital	$	174,079		162,693
Capital Ratios:
Common Equity Tier 1 Capital to risk-weighted assets	12.48		%	12.21	%
Tier 1 capital to risk-weighted assets	12.48		%	12.21	%
Total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	12.91		%	12.52	%
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)	10.06		%	10.06	%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in accumulated other comprehensive income for 2020 and 2019 were as follows (in thousands):


	2020				2019
	Unrealized Gains and Losses on Available-for-Sale Securities		Changes in Pension Plan Assets and Benefit Obligations	Total	Unrealized Gains and Losses on Available-for-Sale Securities	Changes in Pension Plan Assets and Benefit Obligations	Total
Balance at beginning of year	$	857	(184)	673	(4,631)	(88)	(4,719)
Before reclassifications	3,666		(121)	3,545	5,456	(96)	5,360
Reclassifications	(175)		—	(175)	32	—	32
Balance at end of year	$	4,348	(305)	4,043	857	(184)	673

Reclassifications out of accumulated other comprehensive income during 2020 and 2019 and the affected line items in the Consolidated Statements of Income were as follows (in thousands):


	2020		2019	Affected Line Item in the Consolidated Statements of Income
Net gains (losses) on sales of debt securities	$	221	(41)	Net gains (losses) on sales of debt securities
Less provision (benefit) for income taxes	46		(9)	Provision for income taxes
Reclassification adjustment, net of taxes	$	175	(32)

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION

STOCK-BASED COMPENSATION

LCNB established an Ownership Incentive Plan (the "2002 Plan") during 2002 that allowed for stock-based awards to eligible employees, as determined by the Board of Directors. The awards were in the form of stock options, share awards, and/or appreciation rights. The 2002 Plan provided for the issuance of up to 200,000 shares. The 2002 Plan expired on April 16, 2012. Any outstanding unexercised options, however, continue to be exercisable in accordance with their terms.

The 2015 Ownership Incentive Plan (the "2015 Plan") was approved by LCNB's shareholders at the annual meeting on April 28, 2015 and allows for stock-based awards to eligible employees, as determined by the Compensation Committee of the Board of Directors. Awards may be made in the form of stock options, appreciation rights, restricted shares, and/or restricted share units. The 2015 Plan provides for the issuance of up to 450,000 shares of common stock. The 2015 Plan will terminate on April 28, 2025 and is subject to earlier termination by the Compensation Committee.

Stock-based awards may be in the form of treasury shares or newly issued shares.

LCNB has not granted stock options since 2012. Option awards granted to date under the 2002 Plan vest ratably over a five year period and expire ten years after the date of grant. Stock options outstanding at December 31, 2020 were as follows:


	Outstanding Stock Options			Exercisable Stock Options
Exercise Price Range	Number	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)	Number	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)
$11.00- 12.99	311	12.60	1.1	311	12.60	1.1

The following table summarizes stock option activity for the years indicated:


	2020				2019					2018
	Options	Weighted Average Exercise Price	Aggregate Intrinsic Value (in thousands) (1)		Options	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands) (1)		Options	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands) (1)
Outstanding at January 1,	9,904	11.96			13,278	$	11.98			20,265	$	11.42

Exercised	(9,593)	11.94			(3,374)	12.05				(6,987)	10.34
Expired	—	—			—	—				—	—
Outstanding at December 31,	311	12.60	$	—	9,904	11.96		$	73	13,278	11.98		$	42
Exercisable at December 31,	311	12.60	—		9,904	11.96		73		13,278	11.98		42
(1) Aggregate Intrinsic Value is defined as the amount by which the current market value of the underlying stock exceeds the exercise price of the option.

The following table provides information related to stock options exercised during the years indicated (in thousands):


	2020		2019	2018
Intrinsic value of options exercised	$	46	20	50
Cash received from options exercised	114		41	72
Tax benefit realized from options exercised	5		3	7

Compensation costs related to option awards were recognized in full during the first quarter 2017.

Restricted stock awards granted under the 2015 Plan were as follows:


	2020			2019			2018
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding at January 1,	17,752	$	18.03	16,958	$	18.94	8,817	$	16.44
Granted	19,211	16.87		12,504	16.95		10,634	19.20
Vested	(4,817)	17.83		(11,710)	18.19		(2,493)	17.38
Forfeited	(3,550)	16.90		—	—		—	—
Outstanding at December 31,	28,596	$	17.42	17,752	$	18.03	16,958	$	18.94

Total expense related to restricted stock awards included in salaries and wages in the Consolidated Statements of Income for the years ended December 31, 2020, 2019, and 2018 was $137,000, $134,000, and $107,000 respectively. The related tax benefit for the years ended December 31, 2020, 2019, and 2018 was $29,000, $28,000, and $23,000, respectively. Unrecognized compensation expense for restricted stock awards was $410,000 at December 31, 2020 and is expected to be recognized over a period of 4.2 years.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

LCNB has granted restricted stock awards with non-forfeitable dividend rights, which are considered participating securities. Accordingly, earnings per share is computed using the two-class method as required by FASB ASC 260-10-45. Basic earnings per common share is calculated by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per common share is adjusted for the dilutive effects of stock options, warrants, and restricted stock. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock options with proceeds used to purchase treasury shares at the average market price for the period.

Earnings per share for the years ended December 31 were calculated as follows (in thousands, except share and per share data):


	2020		2019	2018
Net income	$	20,075	18,912	14,845
Less allocation of earnings and dividends to participating securities	45		31	18
Net income allocated to common shareholders	$	20,030	18,881	14,827

Weighted average common shares outstanding, gross	12,943,622		13,100,161	11,950,360
Less average participating securities	29,345		21,241	15,010
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	12,914,277		13,078,920	11,935,350
Add dilutive effect of:
Stock options	307		3,973	6,903

Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	12,914,584		13,082,893	11,942,253

Earnings per common share:
Basic	$	1.55	1.44	1.24
Diluted	1.55		1.44	1.24

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2020

RELATED PARTY TRANSACTIONS

LCNB has entered into related party transactions with various directors and executive officers. Management believes these transactions do not involve more than a normal risk of collectability or present other unfavorable features. The following table provides a summary of the loan activity for these officers and directors for the years ended December 31 (in thousands):


	2020		2019
Beginning balance	$	2,380	2,438
New loans and advances	1,139		609

Reductions	(590)		(667)
Ending Balance	$	2,929	2,380

Deposits from executive officers, directors and related interests of such persons held by the Company at December 31, 2020 and 2019 amounted to $3,526,000 and $3,168,000, respectively.

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

LCNB measures certain assets at fair value using various valuation techniques and assumptions, depending on the nature of the asset. Fair value is defined as the price that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date.

The inputs to the valuation techniques used to measure fair value are assigned to one of three broad levels:

•Level 1 – quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the reporting date.

•Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability either directly or indirectly. Level 2 inputs may include quoted prices for similar assets in active markets, quoted prices for identical assets or liabilities in markets that are not active, inputs other than quoted prices (such as interest rates or yield curves) that are observable for the asset or liability, and inputs that are derived from or corroborated by observable market data.

•Level 3 – inputs that are unobservable for the asset or liability.

Equity Securities with a Readily Determinable Fair Value

Equity securities with a readily determinable fair value are reported at fair value with changes in fair value reported in other operating income in the Consolidated Statements of Income. Fair values for equity securities are determined based on market quotations (level 1). LCNB has invested in two mutual funds that are traded in active markets and their fair values are based on market quotations (level 1). Investments in another two mutual funds are measured at fair value using net asset values ("NAV") and are considered level 1 because the NAVs are determined and published and are the basis for current transactions.

Debt Securities, Available-for-Sale

The majority of LCNB's financial debt securities are classified as available-for-sale. The securities are reported at fair value with unrealized holding gains and losses reported net of income taxes in accumulated other comprehensive income (loss). LCNB utilizes a pricing service for determining the fair values of its debt securities. Methods and significant assumptions used to estimate fair value are as follows:

•Fair value for U.S. Treasury notes are determined based on market quotations (level 1).

•Fair values for the other debt securities are calculated using the discounted cash flow method for each security. The discount rates for these cash flows are estimated by the pricing service using rates observed in the market (level 2). Cash flow streams are dependent on estimated prepayment speeds and the overall structure of the securities given existing market conditions.

Assets Recorded at Fair Value on a Nonrecurring Basis

Assets that may be recorded at fair value on a nonrecurring basis include impaired loans, other real estate owned, and other repossessed assets.

A loan is considered impaired when management believes it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Impaired loans are carried at the present value of estimated future cash flows using the loan's existing rate or the fair value of collateral if the loan is collateral dependent, if this value is less than the loan balance. These inputs are considered to be level 3.

Other real estate owned is adjusted to fair value, less costs to sell, upon transfer of the loan to foreclosed assets, usually based on an appraisal of the property. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. Other repossessed assets are valued at estimated sales prices, less costs to sell. The inputs for real estate owned and other repossessed assets are considered to be level 3.

The following table summarizes the valuation of LCNB’s assets recorded at fair value by input levels as of December 31 (in thousands):


			Fair Value Measurements at the End of the Reporting Period Using
	Fair Value Measurements		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2020
Recurring fair value measurements:
Equity securities with a readily determinable fair value:

Equity securities	$	987	987		—
Mutual funds	50		50	—	—
Mutual funds measured at net asset value	1,352		1,352	—	—

Debt securities available-for-sale:
U.S. Treasury notes	2,388		2,388	—	—
U.S. Agency notes	67,900		—	67,900	—
Corporate bonds	1,179		—	1,179	—
U.S. Agency mortgage-backed securities	91,634		—	91,634	—

Municipal securities:
Non-taxable	12,933		—	12,933	—
Taxable	33,437		—	33,437	—
Total recurring fair value measurements	$	211,860	4,777	207,083	—

Nonrecurring fair value measurements:
Impaired loans	$	3,439	—	—	3,439

Total nonrecurring fair value measurements	$	3,439	—	—	3,439

2019
Recurring fair value measurement:
Equity securities with a readily determinable fair value:

Equity securities	$	967	967	—	—
Mutual funds	45		45	—	—
Mutual funds measured at net asset value	1,300		1,300	—	—

Debt securities available-for-sale:
U.S. Treasury notes	2,309		2,309	—	—
U.S. Agency notes	48,984		—	48,984	—
U.S. Agency mortgage-backed securities	84,406		—	84,406	—

Municipal securities:
Non-taxable	22,321		—	22,321	—
Taxable	19,980		—	19,980	—
Total recurring fair value measurements	$	180,312	4,621	175,691	—

Nonrecurring fair value measurements:
Impaired loans	$	2,840	—	—	2,840
Other real estate owned and repossessed assets	197		—	—	197
Total nonrecurring fair value measurements	$	3,037	—	—	3,037

The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at December 31, 2020 and 2019 (dollars in thousands):


					Range
	Fair Value		Valuation Technique	Unobservable Inputs	High		Low		Weighted Average
2020
Impaired loans	$	1,352	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	2,087		Discounted cash flows	Discount rate	8.25	%	4.00	%	4.74	%


2019
Impaired loans	$	1,931	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	909		Discounted cash flows	Discount rate	8.25	%	4.50	%	6.83	%
Other real estate owned	197		Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions

Carrying amounts and estimated fair values of financial instruments as of December 31 were as follows (in thousands):


				Fair Value Measurements at the End of the Reporting Period Using
	Carrying Amount		Fair Value	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2020
FINANCIAL ASSETS:
Cash and cash equivalents	$	31,730	31,730	31,730	—	—
Debt securities, held-to-maturity	24,810		24,960	—	—	24,960
Federal Reserve Bank stock	4,652		4,652	4,652	—	—
Federal Home Loan Bank stock	5,203		5,203	5,203	—	—
Loans, net	1,293,693		1,252,642	—	—	1,252,642
Accrued interest receivable	8,337		8,337	—	8,337	—

FINANCIAL LIABILITIES:
Deposits	1,455,423		1,458,413	1,212,903	245,510	—

Long-term debt	22,000		22,595	—	22,595	—
Accrued interest payable	452		452	—	452	—

2019
FINANCIAL ASSETS:
Cash and cash equivalents	$	20,765	20,765	20,765	—	—
Debt securities, held-to-maturity	27,525		27,888	—	—	27,888
Federal Reserve Bank stock	4,652		4,652	4,652	—	—
Federal Home Loan Bank stock	5,203		5,203	5,203	—	—
Loans, net	1,239,406		1,252,156	—	—	1,252,156
Accrued interest receivable	3,911		3,911	—	3,911	—

FINANCIAL LIABILITIES:
Deposits	1,348,280		1,352,061	1,024,162	327,899	—

Long-term debt	40,994		41,487	—	41,487	—
Accrued interest payable	705		705	—	705	—

The fair values of off-balance-sheet financial instruments such as loan commitments and letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements. The fair values of such instruments were not material at December 31, 2020 and 2019.

Fair values of financial instruments are based on various assumptions, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in actual transactions. In addition, because the required disclosures exclude certain financial instruments and all nonfinancial instruments, any aggregation of the fair value amounts presented would not represent the underlying value of the Company. The following methods and assumptions were used to estimate the fair value of certain financial instruments:

Cash and cash equivalents

The carrying amounts presented are deemed to approximate fair value.

Equity securities without a readily determinable fair value

Equity securities without a readily determinable fair value are measured at cost, less impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investments of the same issuer.

Debt securities, held-to-maturity

Fair values for debt securities, held-to-maturity are based on quoted market prices for similar securities and/or discounted cash flow analysis or other methods.

Federal Home Loan Bank and Federal Reserve Bank stock

The carrying value of Federal Home Loan Bank and Federal Reserve Bank stock approximates fair value based on the respective redemptive provisions.

Loans

The estimated fair value of loans follows the guidance in ASU 2016-01, which prescribes an “exit price” approach in estimating and disclosing fair value of financial instruments. The fair value calculation discounts estimated future cash flows using rates that incorporate discounts for credit, liquidity, and marketability factors.

Deposits

The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities, which approximates market rates.

Borrowings

The carrying amounts of federal funds purchased, repurchase agreements, and U.S. Treasury demand note borrowings are deemed to approximate fair value of short-term borrowings. For long-term debt, fair values are estimated based on the discounted value of expected net cash flows using current interest rates.

Accrued interest receivable and accrued interest payable

Carrying amount approximates fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth certain quarterly results for the years ended December 31, 2020 and 2019 (dollars in thousands, except per share data):


	Three Months Ended
	March 31		June 30	Sep. 30	Dec. 31
2020
Interest income	$	16,556	15,957	15,322	15,945
Interest expense	2,378		1,959	1,793	1,432
Net interest income	14,178		13,998	13,529	14,513
Provision for loan losses	1,173		16	976	(151)
Net interest income after provision	13,005		13,982	12,553	14,664
Total non-interest income	3,839		3,319	4,278	4,305
Total non-interest expenses	11,072		11,116	11,653	11,944
Income before income taxes	5,772		6,185	5,178	7,025
Provision for income taxes	746		1,128	928	1,283
Net income	$	5,026	5,057	4,250	5,742

Earnings per common share:
Basic	$	0.39	0.39	0.33	0.44
Diluted	0.39		0.39	0.33	0.44


2019
Interest income	$	16,113	16,328	16,329	16,424
Interest expense	2,722		2,738	2,751	2,577
Net interest income	13,391		13,590	13,578	13,847
Provision for loan losses	(105)		54	264	(6)
Net interest income after provision	13,496		13,536	13,314	13,853
Total non-interest income	2,772		2,998	3,356	3,222
Total non-interest expenses	10,700		10,833	10,982	11,007
Income before income taxes	5,568		5,701	5,688	6,068
Provision for income taxes	941		973	961	1,238
Net income	$	4,627	4,728	4,727	4,830

Earnings per common share:
Basic	$	0.35	0.36	0.36	0.37
Diluted	0.35		0.36	0.36	0.37

PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY FINANCIAL INFORMATION

Condensed financial information for LCNB Corp., parent company only, follows (in thousands):


Condensed Balance Sheets:
December 31,	2020		2019
Assets:
Cash on deposit with subsidiary	$	3,648	3,252
Cash on deposit with unrelated depository institution	175		23
Equity securities, at fair value	1,001		971
Investment in subsidiaries	235,857		223,735
Other assets	164		84
Total assets	$	240,845	228,065

Liabilities	$	20	17

Shareholders' equity	240,825		228,048
Total liabilities and shareholders' equity	$	240,845	228,065


Condensed Statements of Income
Year ended December 31,	2020		2019	2018
Income:
Dividends from subsidiaries	$	12,070	18,300	10,383
Interest and dividends	29		31	35

Other income	147		215	(66)
Total income	12,246		18,546	10,352

Total expenses	1,326		1,369	1,668

Income before income tax expense/benefit and equity in undistributed income of subsidiaries	10,920		17,177	8,684
Income tax benefit	404		222	341
Equity in undistributed income of subsidiaries	8,751		1,513	5,820
Net income	$	20,075	18,912	14,845


Condensed Statements of Cash Flows
Year ended December 31,	2020		2019	2018
Cash flows from operating activities:
Net income	$	20,075	18,912	14,845
Adjustments for non-cash items -
Increase in undistributed income of subsidiaries	(8,751)		(1,513)	(5,820)
Other, net	(89)		476	(383)
Net cash flows provided by operating activities	11,235		17,875	8,642

Cash flows from investing activities:
Purchases of equity securities	(346)		(337)	(90)

Proceeds from sales of equity securities	463		397	107

Cash paid for business acquisition, net of cash received	—		—	(268)
Net cash flows provided by (used in) investing activities	117		60	(251)

Cash flows from financing activities:

Proceeds from issuance of common stock	401		446	416
Payments to repurchase common stock	(1,872)		(6,834)	(348)

Cash dividends paid on common stock	(9,448)		(9,028)	(8,124)
Other	115		41	72
Net cash flows used in financing activities	(10,804)		(15,375)	(7,984)
Net change in cash	548		2,560	407
Cash at beginning of year	3,275		715	308
Cash at end of year	$	3,823	3,275	715

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements include the accounts of the Company and its subsidiaries. Significant intercompany accounts and transactions are eliminated in consolidation. The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles and with general practices in the banking industry. Certain prior period data presented in the consolidated financial statements have been reclassified to conform with the current year presentation. These reclassifications had no effect on net income.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS For purposes of reporting cash flows, cash and cash equivalents include cash, balances due from banks, federal funds sold, and interest-bearing demand deposits with original maturities of twelve months or less. Deposits with other banks routinely have balances greater than FDIC insured limits. Management considers the risk of loss to be very low with respect to such deposits.
INVESTMENT SECURITIES	INVESTMENT SECURITIES Certain municipal debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity” and recorded at amortized cost. Debt securities not classified as held-to-maturity are classified as “available-for-sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income, a separate component of shareholders’ equity. Amortization of premiums and accretion of discounts are recognized as adjustments to interest income using the level-yield method. Realized gains or losses from the sale of securities are recorded on the trade date and are computed using the specific identification method. Declines in the fair value of debt securities below their cost that are deemed to be other-than-temporarily impaired, and for which the Company does not intend to sell the securities and it is not more likely than not that the securities will be sold before the anticipated recovery of the impairment, are separated into losses related to credit factors and losses related to other factors. The losses related to credit factors are recognized in earnings and losses related to other factors are recognized in other comprehensive income. In estimating other than temporary impairment losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management determined that no such impairment adjustment was required to be made in the Company's Consolidated Statements of Income as of December 31, 2020, 2019, and 2018. Equity securities are measured at fair value with changes in fair value recognized in net income. Federal Home Loan Bank ("FHLB") stock is an equity interest in the Federal Home Loan Bank of Cincinnati. It can be sold only at its par value of $100 per share and only to the FHLB or to another member institution. In addition, the equity ownership rights are more limited than would be the case for a public company because of the oversight role exercised by the Federal Housing Finance Agency in the process of budgeting and approving dividends. Federal Reserve Bank stock is similarly restricted in marketability and value. Both investments are carried at cost, which is their par value. FHLB and Federal Reserve Bank stock are both subject to minimum ownership requirements by member banks. The required investments in common stock are based on predetermined formulas.
LOANS	LOANS The Company’s loan portfolio includes most types of commercial and industrial loans, commercial loans secured by real estate, residential real estate loans, consumer loans, agricultural loans and other types of loans. Most of the properties collateralizing the loan portfolio are located within the Company’s market area. Loans are stated at the principal amount outstanding, net of unearned income, deferred origination fees and costs, and the allowance for loan losses. Interest income is accrued on the unpaid principal balance. The delinquency status of a loan is based on contractual terms and not on how recently payments have been received. Generally, a loan is placed on non-accrual status when it is classified as impaired or there is an indication that the borrower’s cash flow may not be sufficient to make payments as they come due, unless the loan is well secured and in the process of collection. Subsequent cash receipts on non-accrual loans are recorded as a reduction of principal and interest income is recorded once principal recovery is reasonably assured. The current year's accrued interest on loans placed on non-accrual status is charged against earnings. Previous years' accrued interest is charged against the allowance for loan losses. Non-accrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer a reasonable doubt as to the timely collection of interest or principal. Loan origination fees and certain direct loan origination costs are deferred and the net amount amortized as an adjustment of loan yields. These amounts are being amortized over the lives of the related loans. In the ordinary course of business, the Company enters into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded. The credit risk associated with these commitments is evaluated in a manner similar to the allowance for loan losses. Loans acquired from mergers are recorded at fair value with no carryover of the acquired entity's previously established allowance for loan losses. The excess of expected cash flows over the estimated fair value of acquired loans is recognized as interest income over the remaining contractual lives of the loans using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows result in the recognition of additional interest income over the then-remaining contractual lives of the loans. Management estimates the cash flows expected to be collected at acquisition using a third-party risk model, which incorporates the estimate of key assumptions, such as default rates, severity, and prepayment speeds. Impaired loans acquired are accounted for under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") No. 310-30. Factors considered in evaluating whether an acquired loan was impaired include delinquency status and history, updated borrower credit status, collateral information, and current loan-to-value information. The difference between contractually required payments at the time of acquisition and the cash flows expected to be collected is referred to as the nonaccretable difference. The interest component of the cash flows expected to be collected is referred to as the accretable yield and is recognized as interest income over the remaining contractual life of the loan using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows will result in a reclassification from the nonaccretable difference to the accretable yield.
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes that the collectability of the principal is unlikely. Consumer loans are charged off when they reach 120 days past due. Subsequent recoveries, if any, are credited to the allowance. The provision for loan losses is determined by management based upon its evaluation of the amount needed to maintain the allowance for loan losses at a level considered appropriate in relation to the estimated risk of losses inherent in the portfolio. Current methodology used by management to estimate the allowance takes into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, historic categorical trends, current delinquency levels as related to historical levels, portfolio growth rates, changes in composition of the portfolio, the current economic environment, as well as current allowance adequacy in relation to the portfolio. Management is cognizant that reliance on historical information coupled with the cyclical nature of the economy, including credit cycles, affects the allowance. Management considers all of these factors prior to making any adjustments to the allowance due to the subjectivity and imprecision involved in allocation methodology. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are specifically reviewed for impairment. For such loans, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers loans not specifically reviewed for impairment and homogeneous loan pools, such as residential real estate and consumer loans. The general component is measured for each loan category separately based on each category’s average of historical loss experience over a trailing sixty month period, adjusted for qualitative factors. Such qualitative factors may include current economic conditions if different from the five-year historical loss period, trends in underperforming loans, trends in volume and terms of loan categories, concentrations of credit, and trends in loan quality. A loan is considered impaired when management believes, based on current information and events, it is probable that the Bank will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. An impaired loan is measured by the present value of expected future cash flows using the loan's effective interest rate. An impaired collateral-dependent loan may be measured based on collateral value. Smaller-balance homogeneous loans, including residential mortgage and consumer installment loans, which are not evaluated individually are collectively evaluated for impairment.
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment are stated at cost less accumulated depreciation. Land is stated at cost. Depreciation is computed on both the straight-line and accelerated methods over the estimated useful lives of the assets, generally 15 to 40 years for premises and 3 to 10 years for equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Costs incurred for maintenance and repairs are expensed as incurred. Premises and equipment are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be recoverable.
OTHER REAL ESTATE OWNED	OTHER REAL ESTATE OWNED Other real estate owned includes properties acquired through foreclosure. Such property is held for sale and is initially recorded at fair value, less costs to sell, establishing a new cost basis. Fair value is primarily based on a property appraisal obtained at the time of transfer and any periodic updates that may be obtained thereafter. The allowance for loan losses is charged for any write down of the loan’s carrying value to fair value at the date of transfer. Any subsequent reductions in fair value and expenses incurred from holding other real estate owned are charged to other non-interest expense. Costs, excluding interest, relating to the improvement of other real estate owned are capitalized. Gains and losses from the sale of other real estate owned are included in other non-interest expense.
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill is the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is not amortized, but is instead subject to an annual review for impairment. A review for impairment may be conducted more frequently than annually if circumstances indicate a possible impairment. Impairment indicators that may be considered include the condition of the economy and banking industry; estimated future cash flows; government intervention and regulatory updates; the impact of recent events to financial performance and cost factors of the reporting unit; performance of LCNB’s stock, and other relevant events. These and other factors could lead to a conclusion that goodwill is impaired, which would require LCNB to write off the difference between the estimated fair value of the company and the carrying value. Mortgage servicing rights on originated mortgage loans that have been sold are initially recorded at their estimated fair values. Mortgage servicing rights are amortized to loan servicing income in proportion to and over the period of estimated servicing income. Such assets are periodically evaluated as to the recoverability of their carrying value. The Company’s other intangible assets relate to core deposits acquired from business combinations. These intangible assets are amortized on a straight-line basis over their estimated useful lives. Management evaluates whether events or circumstances have occurred that indicate the remaining useful life or carrying value of the amortizing intangible should be revised.
BANK OWNED LIFE INSURANCE	BANK OWNED LIFE INSURANCE The Company has purchased life insurance policies on certain officers of the Company. The Company is the beneficiary of these policies and has recorded the estimated cash surrender value in other assets in the Consolidated Balance Sheets. Income on the policies, based on the increase in cash surrender value and any incremental death benefits, is included in non-interest income in the Consolidated Statements of Income.
AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP	AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP LCNB has elected to account for its investment in an affordable housing tax credit limited partnership using the proportional amortization method described in "ASU 2014-01, "Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (A Consensus of the FASB Emerging Issues Task Force)." Under the proportional amortization method, an investor amortizes the initial cost of the investment to income tax expense in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The investment in the limited partnership is included in other assets and the unfunded amount is included in accrued interest and other liabilities in LCNB's Consolidated Balance Sheets.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Accounting guidance establishes a fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. A financial instrument’s level within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The three broad input levels are: •Level 1 – quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the reporting date; •Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability either directly or indirectly; and •Level 3 - inputs that are unobservable for the asset or liability. Accounting guidance permits, but does not require, companies to measure many financial instruments and certain other items, including loans and debt securities, at fair value. The decision to elect the fair value option is made individually for each instrument and is irrevocable once made. Changes in fair value for the selected instruments are recorded in earnings. The Company did not select any financial instruments for the fair value election in 2020 or 2019.
ADVERTISING EXPENSE	ADVERTISING EXPENSE Advertising costs are expensed as incurred and are recorded as a marketing expense, a component of non-interest expense.
PENSION PLANS	PENSION PLANS Eligible employees of the Company hired before 2009 participate in a multiple-employer qualified noncontributory defined benefit retirement plan. This plan is accounted for as a multi-employer plan because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Citizens National had a qualified noncontributory, defined benefit pension plan, which has been assumed by the Company, that covers eligible employees hired before May 1, 2005. This is a single employer plan.
TREASURY STOCK	TREASURY STOCK Common shares repurchased are recorded at cost. Cost of shares retired or reissued is determined using the weighted average method.
STOCK OPTIONS AND RESTRICTED STOCK AWARD PLANS	STOCK OPTIONS AND RESTRICTED STOCK AWARD PLANS The cost of employee services received in exchange for stock option grants is the grant-date fair value of the award estimated using an option-pricing model. The compensation cost for restricted stock awards is based on the market price of the Company's common stock at the date of grant multiplied by the number of shares granted that are expected to vest. The estimated cost is recognized on a straight-line basis over the period the employee is required to provide services in exchange for the award, usually the vesting period. The Company uses a Black-Scholes pricing model and related assumptions for estimating the fair value of stock option grants and a five-year vesting period for stock options and restricted stock.
REVENUE RECOGNITION	REVENUE RECOGNITION FASB ASC No. 606, "Revenue from Contracts with Customers" ("ASC No. 606") provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance enumerates five steps that entities should follow in achieving this core principle. Revenue generated from financial instruments, including loans and investment securities, are not included in the scope of ASC No. 606. The adoption of ASC No. 606 did not result in a change to the accounting for any of LCNB's revenue streams that are within the scope of the amendments. Revenue-generating activities that are within the scope of ASC 606 and that are presented as non-interest income in LCNB's Consolidated Statements of Income include: •Fiduciary income - this includes periodic fees due from Wealth Management and Investment Services customers for managing the customers' financial assets. Fees are generally charged on a quarterly or annual basis and are recognized ratably throughout the period, as the services are provided on an ongoing basis. •Service charges and fees on deposit accounts - these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer, or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services.
INCOME TAXES	INCOME TAXES Deferred income taxes are determined using the asset and liability method of accounting. Under this method, the net deferred tax asset or liability is determined based on the tax effects of temporary differences between the book and tax basis of the various balance sheet assets and liabilities and gives current recognition to changes in tax rates and laws. Management analyzes material tax positions taken in any income tax return for any tax jurisdiction and determines the likelihood of the positions being sustained in a tax examination. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded.
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share allocated to common shareholders is calculated using the two-class method and is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is adjusted for the dilutive effects of stock based compensation and is calculated using the two-class method or the treasury stock method. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock based compensation with the proceeds used to purchase treasury shares at the average market price for the period.
RECENT ACCOUNTING PRONOUNCEMENTS	ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ASU No. 2017-04 was issued in January 2017 and was adopted by LCNB as of January 1, 2020. It applies to public and other entities that have goodwill reported in their financial statements. To simplify the subsequent measurement of goodwill, this ASU eliminates Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Adoption of ASU No. 2017-04 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement" ASU No. 2018-13 was issued in August 2018 and was adopted by LCNB as of January 1, 2020. It applies to all entities that are required to make disclosures about recurring or nonrecurring fair value measurements. The amendments in this update modify fair value disclosure requirements, including the deletion, modification, and addition of certain targeted disclosures. Adoption of ASU No. 2018-13 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" ASU No. 2018-15 was issued in August 2018 and was adopted by LCNB on January 1, 2020. It applies to entities that are a customer in a hosting arrangement, as defined, that is accounted for as a service contract. The amendments in this update require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. Capitalized implementation costs are to be expensed over the term of the hosting arrangement. Adoption of ASU No. 2018-15 did not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ASU No. 2020-04 was issued in March 2020 and provides optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The amendments provide optional expedients and exceptions for applying generally accepted accounting principles ("GAAP") to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. LCNB does not expect the guidance in ASU No. 2020-04 will have a material impact on its results of consolidated operations or financial position. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET EFFECTIVE From time to time the FASB issues an ASU to communicate changes to U.S. generally accepted accounting principles. The following information provides brief summaries of newly issued but not yet effective ASUs that could have an effect on LCNB’s financial position or results of consolidated operations: ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ASU No. 2016-13 was issued in June 2016 and, once effective, will significantly change current guidance for recognizing impairment of financial instruments. Current guidance requires an "incurred loss" methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. ASU No. 2016-13 replaces the incurred loss impairment methodology with a new current expected credit loss ("CECL") methodology that reflects expected credit losses over the lives of the loans and requires consideration of a broader range of information to inform credit loss estimates. The ASU requires an organization to estimate all expected credit losses for financial assets measured at amortized cost, including loans and held-to-maturity debt securities, based on historical experience, current conditions, and reasonable and supportable forecasts. Additional disclosures are required. ASU No. 2016-13 also amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. Under the new guidance, entities will determine whether all or a portion of the unrealized loss on an available-for-sale debt security is a credit loss. Any credit loss will be recognized as an allowance for credit losses on available-for-sale debt securities rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. As a result, entities will recognize improvements to estimated credit losses on available-for-sale debt securities immediately in earnings rather than as interest income over time, as currently required. ASU No. 2016-13 eliminates the current accounting model for purchased credit impaired loans and debt securities. Instead, purchased financial assets with credit deterioration will be recorded gross of estimated credit losses as of the date of acquisition and the estimated credit losses amounts will be added to the allowance for credit losses. Thereafter, entities will account for additional impairment of such purchased assets using the models listed above. Originally, ASU No. 2016-13 would have taken effect for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. At their meeting on October 16, 2019, FASB approved a final ASU delaying the effective date for several major standards, including ASU No. 2016-13, if certain qualifications are met. The new effective date for SEC filers eligible to be smaller reporting companies ("SRC"), as defined, will be fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is permitted. As an SRC, LCNB intends to adopt ASU No. 2016-13 for the fiscal year, and interim periods within the fiscal year, beginning after December 15, 2022. LCNB has created a cross-functional CECL Committee, which reports to the Audit Committee, composed of members from the lending, Wealth Management, and finance departments. During 2017, the CECL Committee selected a vendor to assist in implementation of and ongoing compliance with the new requirements. It has completed analyzing its data collection efforts, selected a calculation model, analyzed its pool segmentation and reporting mechanisms, and has recently finished back testing in preparation for adoption of the new methodology. While the committee and management expect that the implementation of ASU No. 2016-13 will increase the balance of the allowance for loan losses, they are continuing to evaluate the potential impact on LCNB's results of operations and financial position. The financial statement impact of this new standard cannot be reasonably estimated at this time. ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" ASU No. 2018-14 was issued in August 2018. The amendments in this update modify disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans, including the deletion, modification, and addition of certain targeted disclosures. The amendments are effective for public business entities for fiscal years beginning after December 15, 2020. Early adoption is permitted. The amendments are to be applied on a retrospective basis to all periods presented upon adoption. Adoption of ASU No. 2018-14 will not have a material impact on LCNB's results of consolidated operations or financial position. ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ASU No. 2019-12 was issued in December 2019 and simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifies and amends certain other guidance. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period. Adoption of ASU No. 2019-12 is not expected to have a material impact on LCNB's results of consolidated operations or financial position.
Lessee, Leases	LEASES FASB Accounting Standards Update ("ASU") No. 2016-02, "Leases (Topic 842)," was adopted by LCNB as of January 1, 2019. It requires a lessee to recognize in the statement of financial position a liability to make lease payments ("the lease liability") and a right-of-use asset representing its right to use the underlying asset for the lease term, initially measured at the present value of the lease payments. When measuring assets and liabilities arising from a lease, the lessee should include payments to be made in optional periods only if the lessee is reasonably certain, as defined, to exercise an option to the lease or not to exercise an option to terminate the lease. Optional payments to purchase the underlying asset should be included if the lessee is reasonably certain it will exercise the purchase option. Most variable lease payments should be excluded except for those that depend on an index or a rate or are in substance fixed payments. A lessee shall classify a lease as a finance lease if it meets any of five designated criteria. If the lease does not meet any of the five criteria, the lessee shall classify it as an operating lease. All leases entered into by LCNB through December 31, 2020 are classified as operating leases. Lessees shall recognize a single lease cost on a straight-line basis over the lease term for operating leases. LCNB has adopted an accounting policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. Lease expense for such leases will generally be recognized on a straight-line basis over the lease term.

INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The amortized cost and estimated fair value of equity and debt securities at December 31 are summarized as follows (in thousands):


	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
2020
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	2,268	120	—	2,388
U.S. Agency notes	66,983		950	33	67,900
Corporate Bonds	1,200		—	21	1,179
U.S. Agency mortgage-backed securities	88,455		3,180	1	91,634

Municipal securities:
Non-taxable	12,651		282	—	12,933
Taxable	32,409		1,031	3	33,437
	$	203,966	5,563	58	209,471

Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	21,408	181	—	21,589
Taxable	3,402		6	37	3,371
	$	24,810	187	37	24,960

2019
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	2,273	36	—	2,309
U.S. Agency notes	48,745		273	34	48,984
U.S. Agency mortgage-backed securities	83,977		672	243	84,406

Municipal securities:
Non-taxable	22,174		161	14	22,321
Taxable	19,746		269	35	19,980
	$	176,915	1,411	326	178,000

Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	24,300	343	5	24,638
Taxable	3,225		25	—	3,250
	$	27,525	368	5	27,888

Securities in a Continuous Loss Position

Information concerning debt securities with gross unrealized losses at December 31, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):


	Less Than Twelve Months			Twelve Months or More
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses
2020
Available-for-Sale:

U.S. Agency notes	$	10,674	33	—	—
Corporate Bonds	679		21	—	—
U.S. Agency mortgage-backed securities	290		1	—	—
Municipal securities:
Non-taxable	38		—	—	—
Taxable	3,063		3	—	—
	$	14,744	58	—	—

Held-to-Maturity:
Municipal securities:
Non-taxable	$	1	—	—	—
Taxable	3,113		37	—	—
	$	3,114	37	—	—

2019
Available-for-Sale:

U.S. Agency notes	$	3,586	11	11,939	23
U.S. Agency mortgage-backed securities	10,555		10	19,233	233
Municipal securities:
Non-taxable	2,631		2	1,257	12
Taxable	5,067		35	450	—
	$	21,839	58	32,879	268

Held-to-Maturity:
Municipal securities:
Non-taxable	$	54	—	2,660	5
Taxable	—		—	—	—
	$	54	—	2,660	5

Investments Classified by Contractual Maturity Date

Contractual maturities of debt securities at December 31, 2020 were as follows (in thousands). Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.


	Available-for-Sale			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Due within one year	$	3,795	3,846	2,135	2,144
Due from one to five years	47,699		48,838	5,676	5,758
Due from five to ten years	63,288		64,417	2,055	2,097
Due after ten years	729		736	14,944	14,961
	115,511		117,837	24,810	24,960
U.S. Agency mortgage-backed securities	88,455		91,634	—	—
	$	203,966	209,471	24,810	24,960

Realized Gain (Loss) on Investment Securities Available-for-Sale

Certain information concerning the sale of debt securities available-for-sale for the years ended December 31 was as follows (in thousands):


	2020		2019	2018
Proceeds from sales	$	8,786	84,521	8,545
Gross realized gains	221		228	21
Gross realized losses	—		269	29

Equity Securities with Readily Determinable Fair Value [Table Text Block]

The amortized cost and estimated fair value of equity securities with a readily determinable fair value at December 31 are summarized as follows (in thousands):


	2020			2019
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Mutual funds	$	1,395	1,402	1,371	1,345
Equity securities	778		987	741	967
Total equity securities with a readily determinable fair value	$	2,173	2,389	2,112	2,312

Equity Securities With Readily Determinable Fair Value, Changes in Fair Value [Table Text Block]

Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the years ended December 31 was as follows (in thousands):


	2020		2019
Net gains recognized	$	675	264
Less net realized gains on equity securities sold	658		21
Unrealized gains recognized and still held at period end	$	17	243

LOANS (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Major Classifications of Loans

Major classifications of loans at December 31 were as follows (in thousands):


	2020		2019
Commercial and industrial	$	100,254	78,306
Commercial, secured by real estate	843,230		804,953
Residential real estate	309,692		322,533
Consumer	36,917		25,232
Agricultural	10,100		11,509
Other loans, including deposit overdrafts	363		1,193
	1,300,556		1,243,726
Deferred origination fees, net	(1,135)		(275)
	1,299,421		1,243,451
Less allowance for loan losses	5,728		4,045
Loans-net	$	1,293,693	1,239,406

Non-accrual, Past Due, and Accruing Restructured Loans

Non-accrual, past-due, and accruing restructured loans at December 31 were as follows (dollars in thousands):


	2020			2019
Non-accrual loans:
Commercial and industrial	$	—		—
Commercial, secured by real estate	2,458			2,467
Residential real estate	1,260			743
Agricultural	—			—
Total non-accrual loans	3,718			3,210
Past-due 90 days or more and still accruing	—			—
Total non-accrual and past-due 90 days or more and still accruing	3,718			3,210
Accruing restructured loans	5,176			6,609
Total	$	8,894		9,819

Percentage of total non-accrual and past-due 90 days or more and still accruing to total loans	0.29		%	0.26	%

Percentage of total non-accrual, past-due 90 days or more and still accruing, and accruing restructured loans to total loans	0.68		%	0.79	%

Allowance for Loan Losses and Recorded Investments in Loans

The allowance for loan losses and recorded investment in loans for the years ended December 31 were as follows (in thousands):


	Commercial & Industrial		Commercial, Secured by Real Estate	Residential Real Estate	Consumer	Agricultural	Other	Total
2020
Allowance for loan losses:
Balance, beginning of year	$	456	2,924	528	99	34	4	4,045
Provision charged to expenses	342		1,332	239	62	(6)	45	2,014
Losses charged off	(13)		(353)	(5)	(30)	—	(140)	(541)
Recoveries	31		—	75	22	—	82	210
Balance, end of year	$	816	3,903	837	153	28	(9)	5,728

Individually evaluated for impairment	$	8	17	27	—	—	—	52
Collectively evaluated for impairment	808		3,886	810	153	28	(9)	5,676
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	816	3,903	837	153	28	(9)	5,728

Loans:
Individually evaluated for impairment	$	194	6,613	1,641	5	—	—	8,453
Collectively evaluated for impairment	99,040		833,548	306,138	37,047	10,116	179	1,286,068
Acquired credit impaired loans	362		2,048	2,306	—	—	184	4,900
Balance, end of year	$	99,596	842,209	310,085	37,052	10,116	363	1,299,421

2019
Allowance for loan losses:
Balance, beginning of year	$	400	2,745	767	87	46	1	4,046
Provision charged to expenses	103		266	(264)	4	(12)	110	207
Losses charged off	(47)		(143)	(272)	(24)	—	(181)	(667)
Recoveries	—		56	297	32	—	74	459
Balance, end of year	$	456	2,924	528	99	34	4	4,045

Individually evaluated for impairment	$	6	272	17	—	—	—	295
Collectively evaluated for impairment	450		2,652	511	99	34	4	3,750
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	456	2,924	528	99	34	4	4,045

Loans:
Individually evaluated for impairment	$	230	7,432	949	27	—	—	8,638
Collectively evaluated for impairment	77,430		793,191	319,188	25,328	11,523	930	1,227,590
Acquired credit impaired loans	711		3,531	2,718	—	—	263	7,223
Balance, end of year	$	78,371	804,154	322,855	25,355	11,523	1,193	1,243,451


	Commercial & Industrial		Commercial, Secured by Real Estate	Residential Real Estate	Consumer	Agricultural	Other	Total
2018
Allowance for loan losses:
Balance, beginning of year	$	378	2,178	717	76	53	1	3,403
Provision charged to expenses	21		473	213	133	(7)	90	923
Losses charged off	—		(145)	(234)	(135)	—	(179)	(693)
Recoveries	1		239	71	13	—	89	413
Balance, end of year	$	400	2,745	767	87	46	1	4,046

Individually evaluated for impairment	$	10	3	49	—	—	—	62
Collectively evaluated for impairment	390		2,742	718	87	46	1	3,984
Acquired credit impaired loans	—		—	—	—	—	—	—
Balance, end of year	$	400	2,745	767	87	46	1	4,046

Analysis of the Company's Loan Portfolio by Credit Quality Indicators

An analysis of the Company’s loan portfolio by credit quality indicators at December 31 is as follows (in thousands):


	Pass		OAEM	Substandard	Doubtful	Total
2020
Commercial & industrial	$	97,391	—	2,205	—	99,596
Commercial, secured by real estate	811,558		9,279	21,372	—	842,209
Residential real estate	306,092		1,005	2,988	—	310,085
Consumer	37,050		—	2	—	37,052
Agricultural	10,116		—	—	—	10,116
Other	363		—	—	—	363
Total	$	1,262,570	10,284	26,567	—	1,299,421

2019
Commercial & industrial	$	76,236	233	1,902	—	78,371
Commercial, secured by real estate	789,319		3,007	11,828	—	804,154
Residential real estate	319,075		267	3,513	—	322,855
Consumer	25,342		—	13	—	25,355
Agricultural	11,523		—	—	—	11,523
Other	1,193		—	—	—	1,193
Total	$	1,222,688	3,507	17,256	—	1,243,451

Loan Portfolio Aging Analysis

A loan portfolio aging analysis at December 31 is as follows (in thousands):


	30-59 Days Past Due		60-89 Days Past Due	Greater Than 90 Days	Total Past Due	Current	Total Loans Receivable	Total Loans Greater Than 90 Days and Accruing
2020
Commercial & industrial	$	—	—	—	—	99,596	99,596	—
Commercial, secured by real estate	16		—	1,476	1,492	840,717	842,209	—
Residential real estate	497		219	675	1,391	308,694	310,085	—
Consumer	4		1	—	5	37,047	37,052	—
Agricultural	—		—	—	—	10,116	10,116	—
Other	60		—	—	60	303	363	—
Total	$	577	220	2,151	2,948	1,296,473	1,299,421	—

2019
Commercial & industrial	$	283	—	—	283	78,088	78,371	—
Commercial, secured by real estate	339		—	1,171	1,510	802,644	804,154	—
Residential real estate	1,573		260	423	2,256	320,599	322,855	—
Consumer	27		9	—	36	25,319	25,355	—
Agricultural	—		—	—	—	11,523	11,523	—
Other	930		—	—	930	263	1,193	—
Total	$	3,152	269	1,594	5,015	1,238,436	1,243,451	—

Impaired Loans

Impaired loans, including acquired credit impaired loans, for the years ended December 31 were as follows (in thousands):


	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2020
With no related allowance recorded:
Commercial & industrial	$	362	646	—	1,044	335
Commercial, secured by real estate	6,050		6,735	—	7,070	731
Residential real estate	3,261		3,695	—	3,290	316
Consumer	4		4	—	10	1
Agricultural	—		—	—	—	—
Other	184		297	—	234	36
Total	$	9,861	11,377	—	11,648	1,419

With an allowance recorded:
Commercial & industrial	$	194	199	8	212	12
Commercial, secured by real estate	2,611		2,908	17	1,517	18
Residential real estate	686		687	27	404	18
Consumer	1		1	—	3	—
Agricultural	—		—	—	—	—
Other	—		—	—	—	—
Total	$	3,492	3,795	52	2,136	48

Total:
Commercial & industrial	$	556	845	8	1,256	347
Commercial, secured by real estate	8,661		9,643	17	8,587	749
Residential real estate	3,947		4,382	27	3,694	334
Consumer	5		5	—	13	1
Agricultural	—		—	—	—	—
Other	184		297	—	234	36
Total	$	13,353	15,172	52	13,784	1,467


	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
2019
With no related allowance recorded:
Commercial & industrial	$	711	1,253	—	836	83
Commercial, secured by real estate	8,625		9,373	—	12,748	1,213
Residential real estate	3,118		3,651	—	3,704	311
Consumer	10		10	—	12	1
Agricultural	—		—	—	—	—
Other	263		392	—	310	35
Total	$	12,727	14,679	—	17,610	1,643

With an allowance recorded:
Commercial & industrial	$	230	235	6	247	15
Commercial, secured by real estate	2,338		2,485	272	2,513	64
Residential real estate	549		549	17	528	35
Consumer	17		17	—	20	1
Agricultural	—		—	—	—	—
Other	—		—	—	—	—
Total	$	3,134	3,286	295	3,308	115

Total:
Commercial & industrial	$	941	1,488	6	1,083	98
Commercial, secured by real estate	10,963		11,858	272	15,261	1,277
Residential real estate	3,667		4,200	17	4,232	346
Consumer	27		27	—	32	2
Agricultural	—		—	—	—	—
Other	263		392	—	310	35
Total	$	15,861	17,965	295	20,918	1,758


	Average Recorded Investment		Interest Income Recognized
2018
With no related allowance recorded:
Commercial & industrial	$	945	71
Commercial, secured by real estate	17,353		1,136
Residential real estate	3,580		258
Consumer	32		3
Agricultural	177		—
Other	379		41
Total	$	22,466	1,509

With an allowance recorded:
Commercial & industrial	$	279	17
Commercial, secured by real estate	153		11
Residential real estate	583		37
Consumer	24		1
Agricultural	—		—
Other	—		—
Total	$	1,039	66

Total:
Commercial & industrial	$	1,224	88
Commercial, secured by real estate	17,506		1,147
Residential real estate	4,163		295
Consumer	56		4
Agricultural	177		—
Other	379		41
Total	$	23,505	1,575

Loan Modification that were Classified as Troubled Debt Restructuring

Loan modifications that were classified as troubled debt restructurings during the years ended December 31 were as follows (dollars in thousands):


	2020					2019
	Number of Loans	Pre-Modification Recorded Balance		Post-Modification Recorded Balance		Number of Loans	Pre-Modification Recorded Balance		Post-Modification Recorded Balance
Commercial and industrial	1	$	5	$	4	—	$	—	$	—
Commercial, secured by real estate	1	1,525		1,525		2	258		258
Residential real estate	1	14		14		3	120		120
Consumer	—	—		—		—	—		—
Totals	3	$	1,544	$	1,543	5	$	378	$	378

Troubled Debt Restructurings by Type of Modification

Post-modification balances of newly restructured troubled debt by type of modification for the years ended December 31 were as follows (in thousands):


	Term Modification		Rate Modification	Interest Only	Principal Forgiveness	Combination	Total Modifications
2020
Commercial & industrial	$	—	—	—	—	4	4
Commercial, secured by real estate	—		—	—	—	1,525	1,525
Residential real estate	—		—	—	—	14	14
Consumer	—		—	—	—	—	—
Total	$	—	—	—	—	1,543	1,543

2019
Commercial & industrial	$	—	—	—	—	—	—
Commercial, secured by real estate	—		—	—	—	258	258
Residential real estate	120		—	—	—	—	120
Consumer	—		—	—	—	—	—
Total	$	120	—	—	—	258	378

Schedule of Activity in the Mortgage Servicing Rights Portfolio

Activity in the mortgage servicing rights portfolio during the years ended December 31 was as follows (in thousands):


	2020		2019	2018
Balance, beginning of year	$	483	475	396
Amount obtained through a merger	—		—	91
Amount capitalized to mortgage servicing rights	719		156	113
Amortization of mortgage servicing rights	(226)		(148)	(125)
Balance, end of year	$	976	483	475

ACQUIRED CREDIT IMPAIRED LOANS (Tables)

12 Months Ended

Dec. 31, 2020

Acquired Credit Impaired Loans [Abstract]

Schedule of carrying values of certain loans acquired in a transfer

The following table provides, as of December 31, the major classifications of loans acquired that are accounted for in accordance with FASB ASC 310-30 (in thousands):


	2020		2019
Acquired from First Capital Bancshares, Inc.
Commercial & industrial	$	1	5
Commercial, secured by real estate	—		792
Residential real estate	449		551
Other loans, including deposit overdrafts	—		—
Total	$	450	1,348

Acquired from Eaton National Bank & Trust Co.
Commercial & industrial	$	249	423
Commercial, secured by real estate	601		815
Residential real estate	595		685
Other loans, including deposit overdrafts	184		263
Total	$	1,629	2,186

Acquired from BNB Bancorp, Inc.
Commercial & industrial	$	—	—
Commercial, secured by real estate	780		1,219
Residential real estate	85		100
Other loans, including deposit overdrafts	—		—
Total	$	865	1,319

Acquired from Columbus First Bancorp, Inc.
Commercial & industrial	$	112	283
Commercial, secured by real estate	667		705
Residential real estate	1,177		1,382
Other loans, including deposit overdrafts	—		—
Total	$	1,956	2,370

Total
Commercial & industrial	$	362	711
Commercial, secured by real estate	2,048		3,531
Residential real estate	2,306		2,718
Other loans, including deposit overdrafts	184		263
Total	$	4,900	7,223

Outstanding and related carrying amount for acquired impaired loans

The following table provides the outstanding balance and related carrying amount for acquired impaired loans at December 31 (in thousands):


	2020		2019
Outstanding balance	$	6,128	9,139
Carrying amount	4,900		7,223

Accretable discount related to acquired impaired loans

Activity during 2020 and 2019 for the accretable discount related to acquired impaired loans is as follows (in thousands):


	2020		2019
Accretable discount, beginning of year	$	480	743

Reclass from nonaccretable discount to accretable discount	401		243
Disposals	—		1
Less accretion	(699)		(507)
Accretable discount, end of year	$	182	480

OTHER REAL ESTATE OWNED (Tables)

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

Changes in Other Real Estate Owned

Changes in other real estate owned were as follows (in thousands):


	2020		2019
Balance, beginning of year	$	197	244


Reductions due to sales	(197)		—
Reductions due to valuation write downs	—		(47)
Balance, end of year	$	—	197

PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and equipment at December 31 are summarized as follows (in thousands):


	2020		2019
Land	$	7,933	8,000
Buildings	30,789		31,007
Equipment	16,431		16,885
Construction in progress	4,421		2,976
Total	59,574		58,868
Less accumulated depreciation	24,198		24,081
Premises and equipment, net	$	35,376	34,787

LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Rent Expense [Table Text Block]

Components of lease expense for the years ended December 31 are as follows (in thousands):


	2020		2019
Operating lease expense	$	666	561
Short-term lease expense	48		49
Variable lease expense	10		10
Other	7		7
Total lease expense	$	731	627

Lessee, Leases, Other Information [Table Text Block]

Other information related to leases at December 31, 2020 were as follows (dollars in thousands):


Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	588
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,388
Weighted average remaining lease term in years for operating leases	33.1
Weighted average discount rate for operating leases	3.43		%

Schedule of Future Minimum Rental Payments for Operating Leases

leases as of December 31, 2020 are as follows (in thousands):


2021	$	686
2022	548
2023	525
2024	527
2025	348
Thereafter	9,870
	12,504
Less effects of discounting	6,133
Operating lease liabilities recognized	$	6,371

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 (in thousands):


	2020		2019
Balance, beginning of year	$	59,221	59,221
Additions from acquisitions	—		—
Balance, end of year	$	59,221	59,221

Schedule of Other Intangible Assets Included in Other Assets

Other intangible assets in the Consolidated Balance Sheets at December 31 were as follows (in thousands):


	2020				2019
	Gross Intangible Assets		Accumulated Amortization	Net Intangible Assets	Gross Intangible Assets	Accumulated Amortization	Net Intangible Assets
Core deposit intangibles	$	8,544	6,067	2,477	8,544	5,021	3,523
Mortgage servicing rights	1,938		962	976	1,237	754	483
Total	$	10,482	7,029	3,453	9,781	5,775	4,006

Estimated Aggregate Future Amortization Expense

The estimated aggregate future amortization expense for each of the next five years for intangible assets remaining as of December 31, 2020 is as follows (in thousands):


2021	$	1,211
2022	618
2023	561
2024	436
2025	234

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Activity in Affordable Housing Program Obligation

The following table presents the balances of LCNB's affordable housing tax credit investment and related unfunded commitment at December 31 (in thousands):


	2020		2019
Affordable housing tax credit investment	$	12,000	7,000
Less amortization	1,320		810
Net affordable housing tax credit investment	$	10,680	6,190

Unfunded commitment	$	8,237	4,596

The net affordable housing tax credit investment is included in other assets and the unfunded commitment is included in accrued interest and other liabilities in the Consolidated Balance Sheets.

LCNB expects to fund the unfunded commitment over fourteen years.

The following table presents other information relating to LCNB's affordable housing tax credit investment for the years indicated (in thousands):


	Year ended December 31,
	2020		2019	2018
Tax credits and other tax benefits recognized	$	612	387	267
Tax credit amortization expense included in provision for income taxes	510		318	261

CERTIFICATES OF DEPOSIT (Tables)

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Contractual Maturities of Time Deposits

Contractual maturities of time deposits at December 31, 2020 were as follows (in thousands):


2021	$	151,983
2022	38,534
2023	34,689
2024	3,573
2025	8,556
Thereafter	5,335
	$	242,670

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of funds borrowed from Federal Home Loan Bank

Funds borrowed from the FHLB at December 31 by year of maturity were as follows (dollars in thousands):


	2020				2019
	Outstanding Balance		Average Rate		Outstanding Balance		Average Rate
Maturing within one year	12,000		2.42	%	18,998		2.40	%
Maturing one year through two years	5,000		2.97	%	11,996		2.42	%
Maturing two years through three years	5,000		3.02	%	5,000		2.97	%
Maturing three years through four years	—		—	%	5,000		3.02	%
Maturing four years through five years	—		—	%	—		—	%

Total	$	22,000	2.68	%	$	40,994	2.55	%

Short-term borrowings

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Provision for Federal Income Taxes

The provision for federal income taxes consists of (in thousands):


	2020		2019	2018
Income taxes currently payable	$	3,951	3,694	2,721

Deferred income tax provision	134		419	228
Provision for income taxes	$	4,085	4,113	2,949

Reconciliation Between Statutory Income Tax and Effective Tax Rate

A reconciliation between the statutory income tax and the Company's effective tax rate follows:


	2020		2019		2018
Statutory tax rate	21.0	%	21.0	%	21.0	%
Increase (decrease) resulting from -
Tax exempt interest	(0.9)	%	(1.4)	%	(3.1)	%
Tax exempt income on bank owned life insurance	(1.3)	%	(0.9)	%	(0.9)	%

Captive insurance premium income	(0.8)	%	(0.8)	%	(0.9)	%
Tax benefit from certain provisions of the CARES Act	(0.8)	%	—	%	—	%
Other – net	(0.3)	%	—	%	0.5	%
Effective tax rate	16.9	%	17.9	%	16.6	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities, included in the Consolidated Balance Sheets with accrued interest and other liabilities in 2020 and 2019, consist of the following at December 31 (in thousands):


	2020		2019
Deferred tax assets:
Allowance for loan losses	$	1,203	849

Fair value adjustment on loans acquired from mergers	196		451
Write-down of other real estate owned	—		10
Deferred compensation	667		706
Minimum pension liability	81		49
Operating lease right-of-use assets	1,394		1,199
Other	189		313
	3,730		3,577
Deferred tax liabilities:
Depreciation of premises and equipment	(1,673)		(1,621)
Net unrealized gains on investment securities available-for-sale	(1,156)		(228)
Amortization of intangibles	(1,512)		(1,537)
Prepaid expenses	(283)		(246)

FHLB stock dividends	(216)		(216)
Operating lease liabilities	(1,338)		(1,144)
Fair value adjustment on securities acquired from mergers	—		(3)
	(6,178)		(4,995)
Net deferred tax liabilities	$	(2,448)	(1,418)

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Financial Instruments Whose Contract Amounts Represent Off-Balance-Sheet Credit Risk

Financial instruments whose contract amounts represent off-balance-sheet credit risk at December 31 were as follows (in thousands):


	2020		2019
Commitments to extend credit:
Commercial loans	$	24,581	50,235
Other loans:
Fixed rate	14,668		4,431
Adjustable rate	4,386		1,199
Unused lines of credit:
Fixed rate	24,205		28,796
Adjustable rate	133,073		174,577
Unused overdraft protection amounts on demand and NOW accounts	16,471		16,304
Standby letters of credit	243		883
	$	217,627	276,425

REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2020

Regulatory Assets and Liabilities, Other Disclosures [Abstract]

Financial institutions are classified into categories based upon capital adequacy

For various regulatory purposes, financial institutions are classified into categories based upon capital adequacy:


	Minimum Requirement		Minimum Requirement with Capital Conservation Buffer		To Be Considered Well-Capitalized
Ratio of Common Equity Tier 1 Capital to risk-weighted assets	4.5	%	7.0	%	6.5	%
Ratio of tier 1 capital to risk-weighted assets	6.0	%	8.5	%	8.0	%
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	8.0	%	10.5	%	10.0	%
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)	4.0	%	N/A		5.0	%

Summary of regulatory capital and capital ratios of LCNB

A summary of the regulatory capital of the Bank at December 31 follows (dollars in thousands):


	2020			2019
Regulatory Capital:
Shareholders' equity	$	234,092		222,065
Goodwill and other intangible assets	(61,698)			(62,744)
Accumulated other comprehensive (income) loss	(4,043)			(673)
Tier 1 risk-based capital	168,351			158,648
Eligible allowance for loan losses	5,728			4,045
Total risk-based capital	$	174,079		162,693
Capital Ratios:
Common Equity Tier 1 Capital to risk-weighted assets	12.48		%	12.21	%
Tier 1 capital to risk-weighted assets	12.48		%	12.21	%
Total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	12.91		%	12.52	%
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)	10.06		%	10.06	%

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income for 2020 and 2019 were as follows (in thousands):


	2020				2019
	Unrealized Gains and Losses on Available-for-Sale Securities		Changes in Pension Plan Assets and Benefit Obligations	Total	Unrealized Gains and Losses on Available-for-Sale Securities	Changes in Pension Plan Assets and Benefit Obligations	Total
Balance at beginning of year	$	857	(184)	673	(4,631)	(88)	(4,719)
Before reclassifications	3,666		(121)	3,545	5,456	(96)	5,360
Reclassifications	(175)		—	(175)	32	—	32
Balance at end of year	$	4,348	(305)	4,043	857	(184)	673

Reclassification Out Of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income during 2020 and 2019 and the affected line items in the Consolidated Statements of Income were as follows (in thousands):


	2020		2019	Affected Line Item in the Consolidated Statements of Income
Net gains (losses) on sales of debt securities	$	221	(41)	Net gains (losses) on sales of debt securities
Less provision (benefit) for income taxes	46		(9)	Provision for income taxes
Reclassification adjustment, net of taxes	$	175	(32)

RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Summary of Costs of Retirement Plans

Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to salaries and employee benefits in the Consolidated Statements of Income for the years ended December 31 were as follows (in thousands):


	2020		2019	2018
Qualified noncontributory defined benefit retirement plan	$	1,111	1,039	1,048
401(k) plan	590		524	457

Components of Net Benefit Costs

The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the years ended December 31 are summarized as follows (in thousands):


	2020		2019	2018
Service cost	$	—	—	—
Interest cost	63		77	69
Amortization of unrecognized (gain) loss	2		—	16

Net periodic pension cost	$	65	77	85

Reconciliation of Changes in Projected Benefit Obligations

A reconciliation of changes in the projected benefit obligation of the nonqualified defined benefit retirement plan at December 31 follows (in thousands):


	2020		2019	2018
Projected benefit obligation at beginning of year	$	2,045	1,900	1,971
Service cost	—		—	—
Interest cost	63		77	69
Actuarial (gain) or loss	155		122	(86)
Benefits paid	(139)		(54)	(54)


Projected benefit obligation at end of year	$	2,124	2,045	1,900

Amount Recognized in OCI

Amounts recognized in accumulated other comprehensive income, net of tax, at December 31 for the nonqualified defined benefit retirement plan consists of (in thousands):


	2020		2019	2018
Net actuarial loss	$	122	184	88

Schedule of Key Assumptions Used

Key weighted-average assumptions used to determine the benefit obligation and net periodic pension costs for the nonqualified defined benefit retirement plan for the years ended December 31 were as follows:


	2020		2019		2018
Benefit obligation:
Discount rate	2.52	%	3.22	%	4.22	%
Salary increase rate	—	%	—	%	2.00	%

Net periodic pension cost:
Discount rate	3.22	%	4.22	%	3.60	%
Salary increase rate	—	%	2.00	%	2.00	%
Amortization period in years	21.24		1.00		1.00

Expected Benefit Payments

Estimated future benefit payments reflecting expected future service for the years ended after December 31, 2020 are (in thousands):


2021	$	144
2022	144
2023	144
2024	143
2025	143
2026-2030	682

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Options, by Exercise Price Range

Stock options outstanding at December 31, 2020 were as follows:


	Outstanding Stock Options			Exercisable Stock Options
Exercise Price Range	Number	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)	Number	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)
$11.00- 12.99	311	12.60	1.1	311	12.60	1.1

Summary of Stock Option Activity

The following table summarizes stock option activity for the years indicated:


	2020				2019					2018
	Options	Weighted Average Exercise Price	Aggregate Intrinsic Value (in thousands) (1)		Options	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands) (1)		Options	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands) (1)
Outstanding at January 1,	9,904	11.96			13,278	$	11.98			20,265	$	11.42

Exercised	(9,593)	11.94			(3,374)	12.05				(6,987)	10.34
Expired	—	—			—	—				—	—
Outstanding at December 31,	311	12.60	$	—	9,904	11.96		$	73	13,278	11.98		$	42
Exercisable at December 31,	311	12.60	—		9,904	11.96		73		13,278	11.98		42
(1) Aggregate Intrinsic Value is defined as the amount by which the current market value of the underlying stock exceeds the exercise price of the option.

Schedule Of Information Related To Stock Options Exercised

The following table provides information related to stock options exercised during the years indicated (in thousands):


	2020		2019	2018
Intrinsic value of options exercised	$	46	20	50
Cash received from options exercised	114		41	72
Tax benefit realized from options exercised	5		3	7

Summary of Restricted Stock Awards Activity

Restricted stock awards granted under the 2015 Plan were as follows:


	2020			2019			2018
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Outstanding at January 1,	17,752	$	18.03	16,958	$	18.94	8,817	$	16.44
Granted	19,211	16.87		12,504	16.95		10,634	19.20
Vested	(4,817)	17.83		(11,710)	18.19		(2,493)	17.38
Forfeited	(3,550)	16.90		—	—		—	—
Outstanding at December 31,	28,596	$	17.42	17,752	$	18.03	16,958	$	18.94

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Computations of Earnings Per Share

Earnings per share for the years ended December 31 were calculated as follows (in thousands, except share and per share data):


	2020		2019	2018
Net income	$	20,075	18,912	14,845
Less allocation of earnings and dividends to participating securities	45		31	18
Net income allocated to common shareholders	$	20,030	18,881	14,827

Weighted average common shares outstanding, gross	12,943,622		13,100,161	11,950,360
Less average participating securities	29,345		21,241	15,010
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	12,914,277		13,078,920	11,935,350
Add dilutive effect of:
Stock options	307		3,973	6,903

Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	12,914,584		13,082,893	11,942,253

Earnings per common share:
Basic	$	1.55	1.44	1.24
Diluted	1.55		1.44	1.24

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Related Party Transactions

The following table provides a summary of the loan activity for these officers and directors for the years ended December 31 (in thousands):


	2020		2019
Beginning balance	$	2,380	2,438
New loans and advances	1,139		609

Reductions	(590)		(667)
Ending Balance	$	2,929	2,380

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Valuation of LCNB's Assets Recorded at Fair Value by Inputs Level

The following table summarizes the valuation of LCNB’s assets recorded at fair value by input levels as of December 31 (in thousands):


			Fair Value Measurements at the End of the Reporting Period Using
	Fair Value Measurements		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2020
Recurring fair value measurements:
Equity securities with a readily determinable fair value:

Equity securities	$	987	987		—
Mutual funds	50		50	—	—
Mutual funds measured at net asset value	1,352		1,352	—	—

Debt securities available-for-sale:
U.S. Treasury notes	2,388		2,388	—	—
U.S. Agency notes	67,900		—	67,900	—
Corporate bonds	1,179		—	1,179	—
U.S. Agency mortgage-backed securities	91,634		—	91,634	—

Municipal securities:
Non-taxable	12,933		—	12,933	—
Taxable	33,437		—	33,437	—
Total recurring fair value measurements	$	211,860	4,777	207,083	—

Nonrecurring fair value measurements:
Impaired loans	$	3,439	—	—	3,439

Total nonrecurring fair value measurements	$	3,439	—	—	3,439

2019
Recurring fair value measurement:
Equity securities with a readily determinable fair value:

Equity securities	$	967	967	—	—
Mutual funds	45		45	—	—
Mutual funds measured at net asset value	1,300		1,300	—	—

Debt securities available-for-sale:
U.S. Treasury notes	2,309		2,309	—	—
U.S. Agency notes	48,984		—	48,984	—
U.S. Agency mortgage-backed securities	84,406		—	84,406	—

Municipal securities:
Non-taxable	22,321		—	22,321	—
Taxable	19,980		—	19,980	—
Total recurring fair value measurements	$	180,312	4,621	175,691	—

Nonrecurring fair value measurements:
Impaired loans	$	2,840	—	—	2,840
Other real estate owned and repossessed assets	197		—	—	197
Total nonrecurring fair value measurements	$	3,037	—	—	3,037

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at December 31, 2020 and 2019 (dollars in thousands):


					Range
	Fair Value		Valuation Technique	Unobservable Inputs	High		Low		Weighted Average
2020
Impaired loans	$	1,352	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	2,087		Discounted cash flows	Discount rate	8.25	%	4.00	%	4.74	%


2019
Impaired loans	$	1,931	Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions	Not applicable
	909		Discounted cash flows	Discount rate	8.25	%	4.50	%	6.83	%
Other real estate owned	197		Estimated sales price	Adjustments for comparable properties, discounts to reflect current market conditions

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values of financial instruments as of December 31 were as follows (in thousands):


				Fair Value Measurements at the End of the Reporting Period Using
	Carrying Amount		Fair Value	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
2020
FINANCIAL ASSETS:
Cash and cash equivalents	$	31,730	31,730	31,730	—	—
Debt securities, held-to-maturity	24,810		24,960	—	—	24,960
Federal Reserve Bank stock	4,652		4,652	4,652	—	—
Federal Home Loan Bank stock	5,203		5,203	5,203	—	—
Loans, net	1,293,693		1,252,642	—	—	1,252,642
Accrued interest receivable	8,337		8,337	—	8,337	—

FINANCIAL LIABILITIES:
Deposits	1,455,423		1,458,413	1,212,903	245,510	—

Long-term debt	22,000		22,595	—	22,595	—
Accrued interest payable	452		452	—	452	—

2019
FINANCIAL ASSETS:
Cash and cash equivalents	$	20,765	20,765	20,765	—	—
Debt securities, held-to-maturity	27,525		27,888	—	—	27,888
Federal Reserve Bank stock	4,652		4,652	4,652	—	—
Federal Home Loan Bank stock	5,203		5,203	5,203	—	—
Loans, net	1,239,406		1,252,156	—	—	1,252,156
Accrued interest receivable	3,911		3,911	—	3,911	—

FINANCIAL LIABILITIES:
Deposits	1,348,280		1,352,061	1,024,162	327,899	—

Long-term debt	40,994		41,487	—	41,487	—
Accrued interest payable	705		705	—	705	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following table sets forth certain quarterly results for the years ended December 31, 2020 and 2019 (dollars in thousands, except per share data):


	Three Months Ended
	March 31		June 30	Sep. 30	Dec. 31
2020
Interest income	$	16,556	15,957	15,322	15,945
Interest expense	2,378		1,959	1,793	1,432
Net interest income	14,178		13,998	13,529	14,513
Provision for loan losses	1,173		16	976	(151)
Net interest income after provision	13,005		13,982	12,553	14,664
Total non-interest income	3,839		3,319	4,278	4,305
Total non-interest expenses	11,072		11,116	11,653	11,944
Income before income taxes	5,772		6,185	5,178	7,025
Provision for income taxes	746		1,128	928	1,283
Net income	$	5,026	5,057	4,250	5,742

Earnings per common share:
Basic	$	0.39	0.39	0.33	0.44
Diluted	0.39		0.39	0.33	0.44


2019
Interest income	$	16,113	16,328	16,329	16,424
Interest expense	2,722		2,738	2,751	2,577
Net interest income	13,391		13,590	13,578	13,847
Provision for loan losses	(105)		54	264	(6)
Net interest income after provision	13,496		13,536	13,314	13,853
Total non-interest income	2,772		2,998	3,356	3,222
Total non-interest expenses	10,700		10,833	10,982	11,007
Income before income taxes	5,568		5,701	5,688	6,068
Provision for income taxes	941		973	961	1,238
Net income	$	4,627	4,728	4,727	4,830

Earnings per common share:
Basic	$	0.35	0.36	0.36	0.37
Diluted	0.35		0.36	0.36	0.37

PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

Condensed financial information for LCNB Corp., parent company only, follows (in thousands):


Condensed Balance Sheets:
December 31,	2020		2019
Assets:
Cash on deposit with subsidiary	$	3,648	3,252
Cash on deposit with unrelated depository institution	175		23
Equity securities, at fair value	1,001		971
Investment in subsidiaries	235,857		223,735
Other assets	164		84
Total assets	$	240,845	228,065

Liabilities	$	20	17

Shareholders' equity	240,825		228,048
Total liabilities and shareholders' equity	$	240,845	228,065

Condensed Statements of Income


Condensed Statements of Income
Year ended December 31,	2020		2019	2018
Income:
Dividends from subsidiaries	$	12,070	18,300	10,383
Interest and dividends	29		31	35

Other income	147		215	(66)
Total income	12,246		18,546	10,352

Total expenses	1,326		1,369	1,668

Income before income tax expense/benefit and equity in undistributed income of subsidiaries	10,920		17,177	8,684
Income tax benefit	404		222	341
Equity in undistributed income of subsidiaries	8,751		1,513	5,820
Net income	$	20,075	18,912	14,845

Condensed Statements of Cash Flows


Condensed Statements of Cash Flows
Year ended December 31,	2020		2019	2018
Cash flows from operating activities:
Net income	$	20,075	18,912	14,845
Adjustments for non-cash items -
Increase in undistributed income of subsidiaries	(8,751)		(1,513)	(5,820)
Other, net	(89)		476	(383)
Net cash flows provided by operating activities	11,235		17,875	8,642

Cash flows from investing activities:
Purchases of equity securities	(346)		(337)	(90)

Proceeds from sales of equity securities	463		397	107

Cash paid for business acquisition, net of cash received	—		—	(268)
Net cash flows provided by (used in) investing activities	117		60	(251)

Cash flows from financing activities:

Proceeds from issuance of common stock	401		446	416
Payments to repurchase common stock	(1,872)		(6,834)	(348)

Cash dividends paid on common stock	(9,448)		(9,028)	(8,124)
Other	115		41	72
Net cash flows used in financing activities	(10,804)		(15,375)	(7,984)
Net change in cash	548		2,560	407
Cash at beginning of year	3,275		715	308
Cash at end of year	$	3,823	3,275	715

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2020
CASH AND CASH EQUIVALENTS
Short term investment maturity period	12 months
ALLOWANCE FOR LOAN LOSSES
Minimum period due consumer loan	120 days
Period for measurement of loan component	60 months
Historical loss period	5 years
STOCK OPTIONS
Option vesting period	5 years
Premises \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years
Premises \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Equipment \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years

INVESTMENT SECURITIES, AMORTIZED COST AND FAIR VALUE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities Available-for-Sale:
Amortized Cost	$ 203,966	$ 176,915
Unrealized Gains	5,563	1,411
Unrealized Losses	58	326
Debt securities, available-for-sale, at fair value	209,471	178,000
Debt Securities Held-to-Maturity:
Amortized Cost	24,810	27,525
Unrealized Gains	187	368
Unrealized Losses	37	5
Fair Value	24,960	27,888
Equity Securities, FV-NI, Cost	2,173	2,112
Equity Securities, FV-NI	2,389	2,312
U.S. Treasury notes
Debt Securities Available-for-Sale:
Amortized Cost	2,268	2,273
Unrealized Gains	120	36
Unrealized Losses	0	0
Debt securities, available-for-sale, at fair value	2,388	2,309
U.S. Agency notes
Debt Securities Available-for-Sale:
Amortized Cost	66,983	48,745
Unrealized Gains	950	273
Unrealized Losses	33	34
Debt securities, available-for-sale, at fair value	67,900	48,984
U.S. Agency mortgage-backed securities
Debt Securities Available-for-Sale:
Amortized Cost	88,455	83,977
Unrealized Gains	3,180	672
Unrealized Losses	1	243
Debt securities, available-for-sale, at fair value	91,634	84,406
Debt Securities Held-to-Maturity:
Amortized Cost	0
Fair Value	0
Non-taxable municipal securities
Debt Securities Available-for-Sale:
Amortized Cost	12,651	22,174
Unrealized Gains	282	161
Unrealized Losses	0	14
Debt securities, available-for-sale, at fair value	12,933	22,321
Debt Securities Held-to-Maturity:
Amortized Cost	21,408	24,300
Unrealized Gains	181	343
Unrealized Losses	0	5
Fair Value	21,589	24,638
Taxable municipal securities
Debt Securities Available-for-Sale:
Amortized Cost	32,409	19,746
Unrealized Gains	1,031	269
Unrealized Losses	3	35
Debt securities, available-for-sale, at fair value	33,437	19,980
Debt Securities Held-to-Maturity:
Amortized Cost	3,402	3,225
Unrealized Gains	6	25
Unrealized Losses	37	0
Fair Value	3,371	3,250
Mutual funds
Debt Securities Held-to-Maturity:
Equity Securities, FV-NI, Cost	1,395	1,371
Equity Securities, FV-NI	1,402	1,345
Equity securities
Debt Securities Held-to-Maturity:
Equity Securities, FV-NI, Cost	778	741
Equity Securities, FV-NI	987	$ 967
Corporate Bond Securities
Debt Securities Available-for-Sale:
Amortized Cost	1,200
Unrealized Gains	0
Unrealized Losses	21
Debt securities, available-for-sale, at fair value	$ 1,179

INVESTMENT SECURITIES, CONTINUOUS UNREALIZED LOSS POSITION (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available-for-Sale:
Less Than 12 Months, Fair Value	$ 14,744	$ 21,839
Less Than 12 Months, Unrealized Losses	58	58
12 Months or More, Fair Value	0	32,879
12 Months or More, Unrealized Losses	0	268
Held-to-Maturity:
Less Than 12 Months, Fair Value	3,114	54
Less Than 12 Months, Unrealized Losses	37	0
12 Months or More, Fair Value	0	2,660
12 Months or More, Unrealized Losses	0	5
U.S. Agency notes
Available-for-Sale:
Less Than 12 Months, Fair Value	10,674	3,586
Less Than 12 Months, Unrealized Losses	33	11
12 Months or More, Fair Value	0	11,939
12 Months or More, Unrealized Losses	0	23
U.S. Agency mortgage-backed securities
Available-for-Sale:
Less Than 12 Months, Fair Value	290	10,555
Less Than 12 Months, Unrealized Losses	1	10
12 Months or More, Fair Value	0	19,233
12 Months or More, Unrealized Losses	0	233
Non-taxable Municipal Securities
Available-for-Sale:
Less Than 12 Months, Fair Value	38	2,631
Less Than 12 Months, Unrealized Losses	0	2
12 Months or More, Fair Value	0	1,257
12 Months or More, Unrealized Losses	0	12
Held-to-Maturity:
Less Than 12 Months, Fair Value	1	54
Less Than 12 Months, Unrealized Losses	0	0
12 Months or More, Fair Value	0	2,660
12 Months or More, Unrealized Losses	0	5
Taxable Municipal Securities
Available-for-Sale:
Less Than 12 Months, Fair Value	3,063	5,067
Less Than 12 Months, Unrealized Losses	3	35
12 Months or More, Fair Value	0	450
12 Months or More, Unrealized Losses	0	0
Held-to-Maturity:
Less Than 12 Months, Fair Value	3,113	0
Less Than 12 Months, Unrealized Losses	37	0
12 Months or More, Fair Value	0	0
12 Months or More, Unrealized Losses	0	$ 0
Corporate Bond Securities
Available-for-Sale:
Less Than 12 Months, Fair Value	679
Less Than 12 Months, Unrealized Losses	21
12 Months or More, Fair Value	0
12 Months or More, Unrealized Losses	$ 0

INVESTMENT SECURITIES, MATURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available for Sale, Amortized Cost [Abstract]
Due within one year	$ 3,795
Due from one to five years	47,699
Due from five to ten years	63,288
Due after ten years	729
Amortized Cost	115,511
Amortized Cost	203,966	$ 176,915
Available-for-sale, Fair Value [Abstract]
Due within one year	3,846
Due from one to five years	48,838
Due from five to ten years	64,417
Due after ten years	736
Fair Value	117,837
Held-to-maturity Securities, Amortized Cost [Abstract]
Due within one year	2,135
Due from one to five years	5,676
Due from five to ten years	2,055
Due after ten years	14,944
Amortized Cost	24,810	27,525
Held-to-maturity Securities, Fair Value [Abstract]
Due within one year	2,144
Due from one to five years	5,758
Due from five to ten years	2,097
Due after ten years	14,961
Fair Value	24,960	27,888
U.S. Agency mortgage-backed securities
Available for Sale, Amortized Cost [Abstract]
Amortized Cost	88,455	$ 83,977
Held-to-maturity Securities, Amortized Cost [Abstract]
Amortized Cost	0
Held-to-maturity Securities, Fair Value [Abstract]
Fair Value	$ 0

INVESTMENT SECURITIES, NARRATIVE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale, Restricted	$ 118,599	$ 123,009

INVESTMENT SECURITIES, SALE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from Sale of Available-for-sale Securities	$ 8,786	$ 84,521	$ 8,545
Debt Securities, Available-for-sale, Realized Gain	221	228	21
Debt Securities, Available-for-sale, Realized Loss	$ 0	$ 269	$ 29

INVESTMENT SECURITIES Equity Securities With Readily Determinable Fair Values, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss)	$ 675	$ 264	$ (73)
Equity Securities, FV-NI, Cost	2,173	2,112
Equity Securities, FV-NI	2,389	2,312
Equity Securities, Realized Gain (Loss) From Sale	(658)	(21)
Equity Securities, FV-NI, Unrealized Gain (Loss)	17	243
Equity securities
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Cost	778	741
Equity Securities, FV-NI	987	967
Mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Cost	1,395	1,371
Equity Securities, FV-NI	$ 1,402	$ 1,345

LOANS, MAJOR CLASSIFICATION OF LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	$ 1,300,556	$ 1,243,726
Deferred origination fees, net	(1,135)	(275)
Total loans	1,299,421	1,243,451
Less allowance for loan losses	5,728	4,045
Loans, net	1,293,693	1,239,406
Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	100,254	78,306
Total loans	99,596	78,371
Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	843,230	804,953
Total loans	842,209	804,154
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	309,692	322,533
Total loans	310,085	322,855
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	36,917	25,232
Total loans	37,052	25,355
Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	10,100	11,509
Total loans	10,116	11,523
Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans, including deferred net origination cost	363	1,193
Total loans	$ 363	$ 1,193

LOANS, PAST-DUE, AND ACCRUING RESTRUCTURED LOANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing receivables, non-accruals, past-due, and accruing restructured loans [Line Items]
Total non-accrual loans	$ 3,718	$ 3,210
Past-due 90 days or more and still accruing	0	0
Total non-accrual and past-due 90 days or more and still accruing	3,718	3,210
Accruing restructured loans	5,176	6,609
Total	$ 8,894	$ 9,819
Percentage of total non-accrual and past-due 90 days or more and still accruing to total loans	0.29%	0.26%
Percentage of total non-accrual, past-due 90 days or more and still accruing, and accruing restructured loans to total loans	0.68%	0.79%
Interest income	$ 134	$ 75
Commercial & industrial
Financing receivables, non-accruals, past-due, and accruing restructured loans [Line Items]
Total non-accrual loans	0	0
Past-due 90 days or more and still accruing	0	0
Commercial, secured by real estate
Financing receivables, non-accruals, past-due, and accruing restructured loans [Line Items]
Total non-accrual loans	2,458	2,467
Past-due 90 days or more and still accruing	0	0
Agricultural
Financing receivables, non-accruals, past-due, and accruing restructured loans [Line Items]
Total non-accrual loans	0	0
Past-due 90 days or more and still accruing	0	0
Residential real estate
Financing receivables, non-accruals, past-due, and accruing restructured loans [Line Items]
Total non-accrual loans	1,260	743
Past-due 90 days or more and still accruing	$ 0	$ 0

LOANS, ALLOWANCES FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for loan losses:
Balance, beginning of year	$ 4,045	$ 4,046	$ 3,403
Provision charged to expenses	2,014	207	923
Losses charged off	(541)	(667)	(693)
Recoveries	210	459	413
Balance, end of year	5,728	4,045	4,046
Individually evaluated for impairment				$ 52	$ 295	$ 62
Collectively evaluated for impairment				5,676	3,750	3,984
Acquired credit impaired loans				0	0
Balance, end of year	4,045	4,045	3,403	5,728	4,045	4,046
Loans:
Individually evaluated for impairment				8,453	8,638
Collectively evaluated for impairment				1,286,068	1,227,590
Acquired credit impaired loans				4,900	7,223
Total loans				1,299,421	1,243,451
Commercial & industrial
Allowance for loan losses:
Balance, beginning of year	456	400	378
Provision charged to expenses	342	103	21
Losses charged off	(13)	(47)	0
Recoveries	31	0	1
Balance, end of year	816	456	400
Individually evaluated for impairment				8	6	10
Collectively evaluated for impairment				808	450	390
Acquired credit impaired loans				0	0
Balance, end of year	456	456	378	816	456	400
Loans:
Individually evaluated for impairment				194	230
Collectively evaluated for impairment				99,040	77,430
Total loans				99,596	78,371
Commercial, secured by real estate
Allowance for loan losses:
Balance, beginning of year	2,924	2,745	2,178
Provision charged to expenses	1,332	266	473
Losses charged off	(353)	(143)	(145)
Recoveries	0	56	239
Balance, end of year	3,903	2,924	2,745
Individually evaluated for impairment				17	272	3
Collectively evaluated for impairment				3,886	2,652	2,742
Acquired credit impaired loans				0	0
Balance, end of year	2,924	2,745	2,745	3,903	2,924	2,745
Loans:
Individually evaluated for impairment				6,613	7,432
Collectively evaluated for impairment				833,548	793,191
Total loans				842,209	804,154
Residential real estate
Allowance for loan losses:
Balance, beginning of year	528	767	717
Provision charged to expenses	239	(264)	213
Losses charged off	(5)	(272)	(234)
Recoveries	75	297	71
Balance, end of year	837	528	767
Individually evaluated for impairment				27	17	49
Collectively evaluated for impairment				810	511	718
Acquired credit impaired loans				0	0
Balance, end of year	528	528	717	837	528	767
Loans:
Individually evaluated for impairment				1,641	949
Collectively evaluated for impairment				306,138	319,188
Total loans				310,085	322,855
Consumer
Allowance for loan losses:
Balance, beginning of year	99	87	76
Provision charged to expenses	62	4	133
Losses charged off	(30)	(24)	(135)
Recoveries	22	32	13
Balance, end of year	153	99	87
Individually evaluated for impairment				0	0	0
Collectively evaluated for impairment				153	99	87
Acquired credit impaired loans				0	0
Balance, end of year	153	87	87	153	99	87
Loans:
Individually evaluated for impairment				5	27
Collectively evaluated for impairment				37,047	25,328
Total loans				37,052	25,355
Agricultural
Allowance for loan losses:
Balance, beginning of year	34	46	53
Provision charged to expenses	(6)	(12)	(7)
Losses charged off	0	0	0
Recoveries	0	0	0
Balance, end of year	28	34	46
Individually evaluated for impairment				0	0	0
Collectively evaluated for impairment				28	34	46
Acquired credit impaired loans				0	0
Balance, end of year	34	34	53	28	34	46
Loans:
Individually evaluated for impairment				0	0
Collectively evaluated for impairment				10,116	11,523
Total loans				10,116	11,523
Other
Allowance for loan losses:
Balance, beginning of year	4	1	1
Provision charged to expenses	45	110	90
Losses charged off	(140)	(181)	(179)
Recoveries	82	74	89
Balance, end of year	(9)	4	1
Individually evaluated for impairment				0	0	0
Collectively evaluated for impairment				(9)	4	1
Acquired credit impaired loans				0	0
Balance, end of year	$ (9)	$ 1	$ 1	(9)	4	1
Loans:
Individually evaluated for impairment				0	0
Collectively evaluated for impairment				179	930
Total loans				363	1,193
Financial Receivable Acquired Credit Impaired
Loans:
Acquired credit impaired loans				4,900	7,223	$ 0
Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Loans:
Acquired credit impaired loans				362	711
Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Loans:
Acquired credit impaired loans				2,048	3,531
Financial Receivable Acquired Credit Impaired \| Residential real estate
Loans:
Acquired credit impaired loans				2,306	2,718
Financial Receivable Acquired Credit Impaired \| Consumer
Loans:
Acquired credit impaired loans				0	0
Financial Receivable Acquired Credit Impaired \| Agricultural
Loans:
Acquired credit impaired loans				0	0
Financial Receivable Acquired Credit Impaired \| Other
Loans:
Acquired credit impaired loans				$ 184	$ 263

LOANS, ADDITIONAL INFORMATION (Details)	12 Months Ended
LOANS, ADDITIONAL INFORMATION (Details)	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 134,000	$ 75,000
Financing Receivable, Short Term Modifications, Dollar Amount	401,700,000
Financing Receivable, Short Term Modifications, Dollar Amount, End Of Period	$ 1,600,000
Financing Receivable, Short Term Modifications, Number, End Of Period \| Loan	3
Financing Receivable, CARES Act Section 4013 Modifications, Dollar Amount, End Of Period	$ 19,000,000.0
Financing Receivable, CARES Act Section 4013 Modifications, Number, End Of Period \| Loan	7
Financing Receivable, Short Term Modifications, Number \| Loan	600
Commercial & industrial \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustable interest rate periods of loan products	1 year
Commercial & industrial \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustable interest rate periods of loan products	10 years
Commercial, secured by real estate \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	5 years
Balloon payment terms of loan products	1 year
Adjustable interest rate periods of loan products	1 year
Loan to appraised value ratio of loan products	75.00%
Commercial, secured by real estate \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	25 years
Balloon payment terms of loan products	10 years
Adjustable interest rate periods of loan products	10 years
Loan to appraised value ratio of loan products	85.00%
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Home equity lines of credit draw period of residential real estate loans	5 years
Residential real estate \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	5 years
Adjustable interest rate periods of loan products	1 year
Loan to appraised value ratio of loan products	80.00%
Residential real estate \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	30 years
Adjustable interest rate periods of loan products	10 years
Consumer \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	72 months
Paycheck Protection Program Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period of loan products	2 years
Financing Receivable, Interest Rate	1.00%
Paycheck Protection Program Loans \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Processing Fee, Percent Of Loan Amount	1.00%
Paycheck Protection Program Loans \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Processing Fee, Percent Of Loan Amount	5.00%

LOANS, LOANS PORTFOLIO BY CREDIT QUALITY INDICATORS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	$ 1,299,421	$ 1,243,451
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,262,570	1,222,688
OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	10,284	3,507
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	26,567	17,256
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Commercial & industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	99,596	78,371
Commercial & industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	97,391	76,236
Commercial & industrial \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	233
Commercial & industrial \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,205	1,902
Commercial & industrial \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Commercial, secured by real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	842,209	804,154
Commercial, secured by real estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	811,558	789,319
Commercial, secured by real estate \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	9,279	3,007
Commercial, secured by real estate \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	21,372	11,828
Commercial, secured by real estate \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	310,085	322,855
Residential real estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	306,092	319,075
Residential real estate \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	1,005	267
Residential real estate \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2,988	3,513
Residential real estate \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	37,052	25,355
Consumer \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	37,050	25,342
Consumer \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Consumer \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	2	13
Consumer \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Agricultural
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	10,116	11,523
Agricultural \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	10,116	11,523
Agricultural \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Agricultural \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Agricultural \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	363	1,193
Other \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	363	1,193
Other \| OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Other \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	0	0
Other \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	$ 0	$ 0

LOANS, LOANS PORTFOLIO AGING ANALYSIS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 2,948	$ 5,015
Current	1,296,473	1,238,436
Total loans	1,299,421	1,243,451
Total Loans Greater Than 90 Days and Accruing	0	0
Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total Past Due	0	283
Current	99,596	78,088
Total loans	99,596	78,371
Total Loans Greater Than 90 Days and Accruing	0	0
Commercial, secured by real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	1,492	1,510
Current	840,717	802,644
Total loans	842,209	804,154
Total Loans Greater Than 90 Days and Accruing	0	0
Residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	1,391	2,256
Current	308,694	320,599
Total loans	310,085	322,855
Total Loans Greater Than 90 Days and Accruing	0	0
Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due	5	36
Current	37,047	25,319
Total loans	37,052	25,355
Total Loans Greater Than 90 Days and Accruing	0	0
Agricultural
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Current	10,116	11,523
Total loans	10,116	11,523
Total Loans Greater Than 90 Days and Accruing	0	0
Other
Financing Receivable, Past Due [Line Items]
Total Past Due	60	930
Current	303	263
Total loans	363	1,193
Total Loans Greater Than 90 Days and Accruing	0	0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	577	3,152
30-59 Days Past Due \| Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total Past Due	0	283
30-59 Days Past Due \| Commercial, secured by real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	16	339
30-59 Days Past Due \| Residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	497	1,573
30-59 Days Past Due \| Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due	4	27
30-59 Days Past Due \| Agricultural
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
30-59 Days Past Due \| Other
Financing Receivable, Past Due [Line Items]
Total Past Due	60	930
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	220	269
60-89 Days Past Due \| Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
60-89 Days Past Due \| Commercial, secured by real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
60-89 Days Past Due \| Residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	219	260
60-89 Days Past Due \| Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due	1	9
60-89 Days Past Due \| Agricultural
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
60-89 Days Past Due \| Other
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Total Past Due	2,151	1,594
Greater Than 90 Days \| Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Greater Than 90 Days \| Commercial, secured by real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	1,476	1,171
Greater Than 90 Days \| Residential real estate
Financing Receivable, Past Due [Line Items]
Total Past Due	675	423
Greater Than 90 Days \| Consumer
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Greater Than 90 Days \| Agricultural
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Greater Than 90 Days \| Other
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 0	$ 0

LOANS, IMPAIRED LOANS (Details) - USD ($) $ in Thousands	12 Months Ended
LOANS, IMPAIRED LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
Financing Receivable, Modifications, with No Related Allowance, Recorded Investment	$ 4	$ 252
With no related allowance recorded [Abstract]
Recorded Investment	9,861	12,727
Unpaid Principal Balance	11,377	14,679
Average Recorded Investment	11,648	17,610	$ 22,466
Interest Income Recognized	1,419	1,643	1,509
With an allowance recorded [Abstract]
Recorded Investment	3,492	3,134
Unpaid Principal Balance	3,795	3,286
Related Allowance	52	295
Average Recorded Investment	2,136	3,308	1,039
Interest Income Recognized	48	115	66
Total [Abstract]
Recorded Investment	13,353	15,861
Unpaid Principal Balance	15,172	17,965
Average Recorded Investment	13,784	20,918	23,505
Interest Income Recognized	1,467	1,758	1,575
Interest income recognized on a cash basis	34	42	89
Financing Receivable, Modifications, with Related Allowance, Recorded Investment	1,539	89
Commercial & industrial
With no related allowance recorded [Abstract]
Recorded Investment	362	711
Unpaid Principal Balance	646	1,253
Average Recorded Investment	1,044	836	945
Interest Income Recognized	335	83	71
With an allowance recorded [Abstract]
Recorded Investment	194	230
Unpaid Principal Balance	199	235
Related Allowance	8	6
Average Recorded Investment	212	247	279
Interest Income Recognized	12	15	17
Total [Abstract]
Recorded Investment	556	941
Unpaid Principal Balance	845	1,488
Average Recorded Investment	1,256	1,083	1,224
Interest Income Recognized	347	98	88
Commercial, secured by real estate
With no related allowance recorded [Abstract]
Recorded Investment	6,050	8,625
Unpaid Principal Balance	6,735	9,373
Average Recorded Investment	7,070	12,748	17,353
Interest Income Recognized	731	1,213	1,136
With an allowance recorded [Abstract]
Recorded Investment	2,611	2,338
Unpaid Principal Balance	2,908	2,485
Related Allowance	17	272
Average Recorded Investment	1,517	2,513	153
Interest Income Recognized	18	64	11
Total [Abstract]
Recorded Investment	8,661	10,963
Unpaid Principal Balance	9,643	11,858
Average Recorded Investment	8,587	15,261	17,506
Interest Income Recognized	749	1,277	1,147
Residential real estate
With no related allowance recorded [Abstract]
Recorded Investment	3,261	3,118
Unpaid Principal Balance	3,695	3,651
Average Recorded Investment	3,290	3,704	3,580
Interest Income Recognized	316	311	258
With an allowance recorded [Abstract]
Recorded Investment	686	549
Unpaid Principal Balance	687	549
Related Allowance	27	17
Average Recorded Investment	404	528	583
Interest Income Recognized	18	35	37
Total [Abstract]
Recorded Investment	3,947	3,667
Unpaid Principal Balance	4,382	4,200
Average Recorded Investment	3,694	4,232	4,163
Interest Income Recognized	334	346	295
Consumer
With no related allowance recorded [Abstract]
Recorded Investment	4	10
Unpaid Principal Balance	4	10
Average Recorded Investment	10	12	32
Interest Income Recognized	1	1	3
With an allowance recorded [Abstract]
Recorded Investment	1	17
Unpaid Principal Balance	1	17
Related Allowance	0	0
Average Recorded Investment	3	20	24
Interest Income Recognized	0	1	1
Total [Abstract]
Recorded Investment	5	27
Unpaid Principal Balance	5	27
Average Recorded Investment	13	32	56
Interest Income Recognized	1	2	4
Agricultural
With no related allowance recorded [Abstract]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0	177
Interest Income Recognized	0	0	0
With an allowance recorded [Abstract]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0	0
Interest Income Recognized	0	0	0
Total [Abstract]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0	177
Interest Income Recognized	0	0	0
Other
With no related allowance recorded [Abstract]
Recorded Investment	184	263
Unpaid Principal Balance	297	392
Average Recorded Investment	234	310	379
Interest Income Recognized	36	35	41
With an allowance recorded [Abstract]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0	0
Interest Income Recognized	0	0	0
Total [Abstract]
Recorded Investment	184	263
Unpaid Principal Balance	297	392
Average Recorded Investment	234	310	379
Interest Income Recognized	$ 36	$ 35	$ 41

LOANS, TROUBLED DEBT RESTRUCTURING (Details) $ in Thousands	12 Months Ended
LOANS, TROUBLED DEBT RESTRUCTURING (Details) $ in Thousands	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($) Loan	Dec. 31, 2018 USD ($)
Loan modifications classified as troubled debt restructurings [Abstract]
Number of Loans (in loan) \| Loan	3	5
Pre-Modification Recorded Balance	$ 1,544	$ 378
Post-Modification Recorded Balance	1,543	378
Loans modified that subsequently defaulted	0	0	$ 0
Modified impaired loans without a valuation allowance	4	252
Modified impaired loans with valuation allowance	1,539	89
Federal Home Loan Mortgage Corporation and Other Investors
Loan modifications classified as troubled debt restructurings [Abstract]
Unpaid principal balances of loans sold and serviced for the Federal Home Loan Mortgage Corporation	$ 137,188	$ 93,596
Commercial & industrial
Loan modifications classified as troubled debt restructurings [Abstract]
Number of Loans (in loan) \| Loan	1	0
Pre-Modification Recorded Balance	$ 5	$ 0
Post-Modification Recorded Balance	$ 4	$ 0
Commercial, secured by real estate
Loan modifications classified as troubled debt restructurings [Abstract]
Number of Loans (in loan) \| Loan	1	2
Pre-Modification Recorded Balance	$ 1,525	$ 258
Post-Modification Recorded Balance	$ 1,525	$ 258
Residential real estate
Loan modifications classified as troubled debt restructurings [Abstract]
Number of Loans (in loan) \| Loan	1	3
Pre-Modification Recorded Balance	$ 14	$ 120
Post-Modification Recorded Balance	$ 14	$ 120
Consumer
Loan modifications classified as troubled debt restructurings [Abstract]
Number of Loans (in loan) \| Loan	0	0
Pre-Modification Recorded Balance	$ 0	$ 0
Post-Modification Recorded Balance	$ 0	$ 0

LOANS, TROUBLED DEBT RESTRUCTURINGS, MODIFICATION TYPE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	$ 1,543	$ 378
Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	4	0
Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	1,525	258
Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	14	120
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Term Modification
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	120
Term Modification \| Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Term Modification \| Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Term Modification \| Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	120
Term Modification \| Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Rate Modification
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Rate Modification \| Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Rate Modification \| Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Rate Modification \| Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Rate Modification \| Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Interest Only
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Interest Only \| Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Interest Only \| Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Interest Only \| Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Interest Only \| Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Principal Forgiveness [Member] \| Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Principal Forgiveness [Member] \| Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Principal Forgiveness [Member] \| Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Principal Forgiveness [Member] \| Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	0	0
Combination
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	1,543	258
Combination \| Commercial & industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	4	0
Combination \| Commercial, secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	1,525	258
Combination \| Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	14	0
Combination \| Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Post-Modification Recorded Balance	$ 0	$ 0

LOANS, ACTIVITY IN MORTGAGE SERVICING RIGHTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Servicing Asset At Amortized Cost, Additions From Business Acquisition	$ 0	$ 0	$ 91
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance, beginning of year	483	475	396
Amount capitalized to mortgage servicing rights	719	156	113
Amortization of mortgage servicing rights	(226)	(148)	(125)
Balance, end of year	$ 976	$ 483	$ 475

ACQUIRED CREDIT IMPAIRED LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	$ 1,300,556	$ 1,243,726
Loans, net	1,293,693	1,239,406
Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	100,254	78,306
Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	843,230	804,953
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	309,692	322,533
Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	363	1,193
Financial Receivable Acquired Credit Impaired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	4,900	7,223
Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	362	711
Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	2,048	3,531
Financial Receivable Acquired Credit Impaired \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	2,306	2,718
Financial Receivable Acquired Credit Impaired \| Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	184	263
Eaton National Bank & Trust Co. [Member] \| Financial Receivable Acquired Credit Impaired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	1,629	2,186
Eaton National Bank & Trust Co. [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	249	423
Eaton National Bank & Trust Co. [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	601	815
Eaton National Bank & Trust Co. [Member] \| Financial Receivable Acquired Credit Impaired \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	595	685
Eaton National Bank & Trust Co. [Member] \| Financial Receivable Acquired Credit Impaired \| Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	184	263
BNB Bancorp, Inc [Member] \| Financial Receivable Acquired Credit Impaired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	865	1,319
BNB Bancorp, Inc [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	0	0
BNB Bancorp, Inc [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	780	1,219
BNB Bancorp, Inc [Member] \| Financial Receivable Acquired Credit Impaired \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	85	100
BNB Bancorp, Inc [Member] \| Financial Receivable Acquired Credit Impaired \| Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	0	0
Columbus First Bancorp, Inc. \| Financial Receivable Acquired Credit Impaired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	1,956	2,370
Columbus First Bancorp, Inc. \| Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	112	283
Columbus First Bancorp, Inc. \| Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	667	705
Columbus First Bancorp, Inc. \| Financial Receivable Acquired Credit Impaired \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	1,177	1,382
Columbus First Bancorp, Inc. \| Financial Receivable Acquired Credit Impaired \| Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	0	0
First Capital Bancshares, Inc. [Member] \| Financial Receivable Acquired Credit Impaired
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	450	1,348
First Capital Bancshares, Inc. [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	1	5
First Capital Bancshares, Inc. [Member] \| Financial Receivable Acquired Credit Impaired \| Commercial, secured by real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	0	792
First Capital Bancshares, Inc. [Member] \| Financial Receivable Acquired Credit Impaired \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	449	551
First Capital Bancshares, Inc. [Member] \| Financial Receivable Acquired Credit Impaired \| Other loans, including deposit overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans acquired	$ 0	$ 0

ACQUIRED CREDIT IMPAIRED LOANS, OUTSTANDING BALANCE AND CARRYING AMOUNT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding balance	$ 6,128	$ 9,139
Carrying amount	4,900	7,223
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	$ 182	$ 480	$ 743

ACQUIRED CREDIT IMPAIRED LOANS, ACCRETABLE DISCOUNT RELATED TO ACQUIRED IMPAIRED LOANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	$ 182	$ 480	$ 743
Reclass from nonaccretable discount to accretable discount	401	243
Disposals	0	1
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	$ (699)	$ (507)

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Real Estate [Roll Forward]
Balance, beginning of year	$ 197	$ 244
Reductions due to sales	(197)	0
Balance, end of year	0	$ 197
Residential real estate in the process of foreclosure	$ 62

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premises and equipment [Abstract]
Premises and equipment, gross	$ 59,574	$ 58,868
Less accumulated depreciation	24,198	24,081
Premises and equipment, net	35,376	34,787
Depreciation charged	1,834	1,770	$ 1,776
Land
Premises and equipment [Abstract]
Premises and equipment, gross	7,933	8,000
Buildings
Premises and equipment [Abstract]
Premises and equipment, gross	30,789	31,007
Equipment
Premises and equipment [Abstract]
Premises and equipment, gross	16,431	16,885
Construction in progress
Premises and equipment [Abstract]
Premises and equipment, gross	$ 4,421	$ 2,976

LEASES (Details) $ in Thousands	12 Months Ended
LEASES (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Operating Leased Assets [Line Items]
Operating Lease, Cost	$ 666	$ 561
Short-term Lease, Cost	48	49
Variable Lease, Cost	10	10
Other Lease Expense	7	7
Lease, Cost	731	627
Operating Lease, Payments	588
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 1,388	5,775	$ 0
Operating Lease, Weighted Average Remaining Lease Term	33 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	3.43%
Rental expenses	$ 731	627	$ 519
Minimum annual rentals payment [Abstract]
2017	686
2018	548
2019	525
2020	527
2021	348
Thereafter	9,870
Lessee, Operating Lease, Liability, Payments, Due	12,504
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	6,133
Operating Lease, Liability	$ 6,371	$ 5,446
Fairfield Office Lease [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Oxford Lease [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Number Of Renewal Options	0
Lessee, Operating Lease, Remaining Lease Term	41 years
Oakwood Lease [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Lessee, Operating Lease, Number Of Renewal Options	6
Lessee, Operating Lease, Remaining Lease Term	17 years
Other Leases [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Minimum [Member] \| Other Leases [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Remaining Lease Term	1 year
Maximum [Member] \| Other Leases [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Remaining Lease Term	6 years

GOODWILL AND OTHER INTANGIBLE ASSETS, CHANGES IN GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance, beginning of year	$ 59,221	$ 59,221
Additions from acquisitions	0	0
Balance, end of year	$ 59,221	$ 59,221

GOODWILL AND OTHER INTANGIBLE ASSETS, OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other intangible assets included in other assets [Abstract]
Gross Intangible Assets	$ 10,482	$ 9,781
Accumulated Amortization	7,029	5,775
Net Intangible Assets	3,453	4,006
Core deposit intangibles
Other intangible assets included in other assets [Abstract]
Gross Intangible Assets	8,544	8,544
Accumulated Amortization	6,067	5,021
Net Intangible Assets	2,477	3,523
Mortgage servicing rights
Other intangible assets included in other assets [Abstract]
Gross Intangible Assets	1,938	1,237
Accumulated Amortization	962	754
Net Intangible Assets	$ 976	$ 483

GOODWILL AND OTHER INTANGIBLE ASSETS, ESTIMATED AGGREGATE FUTURE AMORTIZATION EXPENSE (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Estimated aggregate future amortization expense [Abstract]
2017	$ 1,211
2018	618
2019	561
2020	436
2021	$ 234

AFFORDABLE HOUSING TAX CREDIT LIMITED PARTNERSHIP (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Affordable housing tax credit investment	$ 12,000	$ 7,000
Less amortization	1,320	810
Net affordable housing tax credit investment	10,680	6,190
Unfunded commitment	$ 8,237	4,596
Funding period for unfunded commitment	14 years
Tax credits and other tax benefits recognized	$ 612	387	$ 267
Tax credit amortization expense included in provision for income taxes	$ 510	$ 318	$ 261

CERTIFICATES OF DEPOSIT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contractual maturities of time deposits [Abstract]
2017	$ 151,983
2018	38,534
2019	34,689
2020	3,573
2021	8,556
Thereafter	5,335
Time deposits	242,670
Time deposits of $250,000 or more	$ 35,584	$ 52,832

BORROWINGS, FUNDS BORROWED FROM FHLB (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Funds borrowed from the FHLB at December 31 by year of maturity
Due in next twelve months	$ 12,000	$ 18,998
Due in year two	5,000	11,996
Due in year three	5,000	5,000
Due in year four	0	5,000
Due in four through five years	0	0
Long-term debt	$ 22,000	$ 40,994
Average rate of funds borrowed from the FHLB at December 31 by year of maturity
Due in next twelve months (as a percent)	2.42%	2.40%
Due in year two (as a percent)	2.97%	2.42%
Due in year three (as a percent)	3.02%	2.97%
Due in year four (as a percent)	0.00%	3.02%
Due in four through five years (as a percent)	0.00%	0.00%
Weighted average interest rate (as a percent)	2.68%	2.55%

BORROWINGS, NARRATIVE (Details)	12 Months Ended
BORROWINGS, NARRATIVE (Details)	Dec. 31, 2020 USD ($) institution	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Pledged financial instruments for Federal Home Loan Bank	$ 276,000,000	$ 283,000,000
FHLB remaining borrowing capacity	$ 178,300,000
Number of financial institution (in institution) \| institution	2
Other Short-term Borrowings	$ 0	$ 0
Federal Funds Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Correspondent Bank Number One [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000,000
Correspondent Bank Number Two [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000,000

BORROWINGS, SHORT TERM DEBT (Details) $ in Millions	12 Months Ended
BORROWINGS, SHORT TERM DEBT (Details) $ in Millions	Dec. 31, 2020 USD ($)
Correspondent Bank Number One [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25.0
Correspondent Bank Number Two [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	30.0
Federal Home Loan Bank, REPO Based Advance Program [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 81.7
Short-Term Debt, Minimum Term	1 day
Short-Term Debt, Maximum Term	1 year
Line of Credit Facility, Expiration Date	Feb. 12, 2021
Federal Funds Rate
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%

INCOME TAXES, PROVISION FOR FEDERAL INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provision for federal income taxes [Abstract]
Income taxes currently payable									$ 3,951	$ 3,694	$ 2,721
Deferred income tax provision									134	419	228
Provision for income taxes	$ 1,283	$ 928	$ 1,128	$ 746	$ 1,238	$ 961	$ 973	$ 941	$ 4,085	$ 4,113	$ 2,949

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES, EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation between the statutory income tax and effective tax rate [Abstract]
Statutory tax rate	21.00%	21.00%	21.00%
Increase (decrease) resulting from -
Tax exempt interest	(0.90%)	(1.40%)	(3.10%)
Tax exempt income on bank owned life insurance	(1.30%)	(0.90%)	(0.90%)
Captive insurance premium income	(0.80%)	(0.80%)	(0.90%)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent	(0.80%)	0.00%	0.00%
Other – net	(0.30%)	0.00%	0.50%
Effective tax rate	16.90%	17.90%	16.60%

INCOME TAXES, DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Allowance for loan losses	$ 1,203	$ 849
Fair value adjustment on loans acquired from mergers	196	451
Deferred Tax Assets Tax Deferred Expense Real Estate Owned Write Downs	0	10
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation	667	706
Deferred compensation	81	49
Operating Lease, Right-of-Use Asset	1,394	1,199
Other	189	313
Deferred tax assets, gross	3,730	3,577
Deferred tax liabilities:
Depreciation of premises and equipment	(1,673)	(1,621)
Amortization of intangibles	(1,512)	(1,537)
Deferred Tax Liabilities, Prepaid Expenses	283	246
FHLB stock dividends	(216)	(216)
Deferred Tax Liabilities Operating Lease Liabilities	(1,338)	(1,144)
Deferred Tax Liabilities, Other	0	3
Fair value adjustment on securities acquired from mergers	(1,156)	(228)
Deferred tax liabilities, gross	(6,178)	(4,995)
Net deferred tax liabilities	$ (2,448)	$ (1,418)

INCOME TAXES, NARRATIVE (Details) - USD ($)	12 Months Ended
INCOME TAXES, NARRATIVE (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0
Unrecognized interest and penalties	$ 0	$ 0	$ 0

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	$ 217,627	$ 276,425
Commitments outstanding for capital expenditures	966
Commercial loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	24,581	50,235
Other loans \| Fixed rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	14,668	4,431
Other loans \| Adjustable rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	4,386	1,199
Unused lines of credit \| Fixed rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	24,205	28,796
Unused lines of credit \| Adjustable rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	133,073	174,577
Unused overdraft protection amounts on demand and NOW accounts
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	16,471	16,304
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, liability	$ 243	$ 883

REGULATORY MATTERS, NARRATIVE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Regulatory Assets and Liabilities, Other Disclosures [Abstract]
Minimum cash reserve balance with Federal Reserve Bank	$ 20,907	$ 8,518
Cash Reserve balance	16,153	$ 5,927
Dividend payable from retained earnings without affecting capital position	$ 9,935
Capital Conservation Buffer, Fully Implimented	2.50%

REGULATORY MATTERS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Ratio of Common Equity Tier 1 Capital to risk-weighted assets
Minimum Requirement	4.50%
Minimum Requirement with Capital Conservation Buffer	7.00%
To Be Considered Well-Capitalized	6.50%
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	0.060
Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets With Capital Conservation Buffer	8.50%
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	0.080
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets
Minimum Requirement	0.080
Minimum Requirement with Capital Conservation Buffer	10.50%
To Be Considered Well-Capitalized	0.100
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)
Minimum Requirement	0.040
To Be Considered Well-Capitalized	0.050
Regulatory Capital:
Shareholders' equity	$ 240,825	$ 228,048	$ 218,985	$ 150,271
2020
Regulatory Capital:
Shareholders' equity	234,092	222,065
Goodwill and other intangible assets	(61,698)	(62,744)
Accumulated other comprehensive (income) loss	(4,043)	(673)
Tier 1 risk-based capital	168,351	158,648
Eligible allowance for loan losses	5,728	4,045
Total risk-based capital	$ 174,079	$ 162,693
Capital Ratios:
Common Equity Tier 1 Capital to risk-weighted assets	12.48%	12.21%
Tier 1 capital to risk-weighted assets	0.1248	0.1221
Total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets	0.1291	0.1252
Leverage ratio (tier 1 capital to adjusted quarterly average total assets)	0.1006	0.1006

ACCUMULATED OTHER COMPREHENSIVE INCOME, CHANGES IN AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	$ 228,048	$ 218,985
Before reclassifications	3,545	5,360
Reclassifications	(175)	32
Balance at end of year	240,825	228,048
Unrealized Gains and Losses on Available-for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	857	(4,631)
Before reclassifications	3,666	5,456
Reclassifications	(175)	32
Balance at end of year	4,348	857
Changes in Pension Plan Assets and Benefit Obligations
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(184)	(88)
Before reclassifications	(121)	(96)
Reclassifications	0	0
Balance at end of year	(305)	(184)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	673	(4,719)
Balance at end of year	$ 4,043	$ 673

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE INCOME, RECLASSIFICATION OF AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gains (losses) on sales of debt securities									$ (221)	$ 41	$ 8
Less provision (benefit) for income taxes	$ (1,283)	$ (928)	$ (1,128)	$ (746)	$ (1,238)	$ (961)	$ (973)	$ (941)	(4,085)	(4,113)	$ (2,949)
Reclassification adjustment, net of taxes									175	(32)
Unrealized Gains and Losses on Available-for-Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment, net of taxes									175	(32)
Unrealized Gains and Losses on Available-for-Sale Securities \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gains (losses) on sales of debt securities									221	(41)
Less provision (benefit) for income taxes									46	(9)
Reclassification adjustment, net of taxes									$ 175	$ (32)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

RETIREMENT PLANS, NARRATIVE (Details) $ in Thousands	12 Months Ended
RETIREMENT PLANS, NARRATIVE (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jul. 01, 2020	Jul. 01, 2019	Feb. 01, 2009 age_and_service
Defined Contribution Plan [Abstract]
Age plus vesting service (less than, in years) \| age_and_service						65
Employer's matching contribution to 401(k) of employees hired on or after January 1, 2009	50.00%
Maximum annual contribution per employee, percent	3.00%
Minimum annual contribution for employees who received a benefit reduction under plan amendments	5.00%
Maximum annual contribution for employees who received a benefit reduction under plan amendments	7.00%
Defined benefit plan, minimum funded percentage				80.00%	80.00%
Deferred Compensation Arrangements
Deferred Compensation Arrangements [Abstract]
Accrued interest on deferred compensation	8.00%
Deferred compensation liability	$ 3,176	$ 3,362
Qualified noncontributory defined benefit retirement plan
Defined Contribution Plan [Abstract]
Expected contribution by employer to noncontributory defined benefit plan	248
Supplemental Employee Retirement Plan
Supplemental income plan [Abstract]
Projected benefit obligation	$ 901	$ 998
Discount rate	5.20%	5.20%
Service cost	$ 0	$ 0	$ 0
Interest cost	$ 48	$ 52	$ 59
Qualified noncontributory defined benefit retirement plan
Supplemental income plan [Abstract]
Discount rate	2.52%	3.22%	4.22%
Service cost	$ 0	$ 0	$ 0
Interest cost	63	77	$ 69
Recognized in other liabilities nonqualified defined benefit retirement plan	2,124	2,045
Accumulated benefit obligation under nonqualified defined benefit retirement plan	2,124	2,045
Future amortization of prior service cost	9
Citizens National Bank
Defined Contribution Plan [Abstract]
Qualified noncontributory defined benefit pension plan liability	$ 182	$ 69

RETIREMENT PLANS, COSTS OF RETIREMENT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
401(k) plan expense	$ 590	$ 524	$ 457
Qualified noncontributory defined benefit retirement plan
Defined Benefit Plan Disclosure [Line Items]
Plan expense	$ 1,111	$ 1,039	$ 1,048

RETIREMENT PLANS, NET PERIODIC BENEFIT COSTS (Details) - Qualified noncontributory defined benefit retirement plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	$ 0
Interest cost	63	77	69
Amortization of unrecognized (gain) loss	2	0	16
Net periodic pension cost	$ 65	$ 77	$ 85

RETIREMENT PLANS, CHANGES IN PROJECTED BENEFIT OBLIGATION (Details) - Qualified noncontributory defined benefit retirement plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in projected benefit obligation [Abstract]
Projected benefit obligation at beginning of year	$ 2,045	$ 1,900	$ 1,971
Service cost	0	0	0
Interest cost	63	77	69
Actuarial (gain) or loss	155	122	(86)
Benefits paid	(139)	(54)	(54)
Projected benefit obligation at end of year	$ 2,124	$ 2,045	$ 1,900

RETIREMENT PLANS, AMOUNTS RECOGNIZED IN AOCI (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Qualified noncontributory defined benefit retirement plan
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), after Tax [Abstract]
Net actuarial (gain)/loss	$ (122)	$ (184)	$ (88)

RETIREMENT PLANS, ASSUMPTIONS USED (Details) - Qualified noncontributory defined benefit retirement plan	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Benefit obligation:
Discount rate	2.52%	3.22%	4.22%
Salary increase rate	0.00%	0.00%	2.00%
Net periodic pension cost:
Discount rate	3.22%	4.22%	3.60%
Salary increase rate	0.00%	2.00%	2.00%
Amortization period in years	21 years 2 months 26 days	1 year	1 year

RETIREMENT PLANS, ESTIMATED FUTURE BENEFIT PAYMENTS (Details) - Qualified noncontributory defined benefit retirement plan	Dec. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions, next fiscal year	$ 0
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2018	144,000
2019	144,000
2020	144,000
2021	143,000
2022	143,000
2023-2026	$ 682,000

STOCK-BASED COMPENSATION, NARRATIVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period options granted to date vest ratably	5 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0	$ 73	$ 42
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 0	$ 73	$ 42
Ownership Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	200,000
Ownership Incentive Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period options granted to date vest ratably	5 years
Period options granted expires after date of grant	10 years
Ownership Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	450,000

STOCK-BASED COMPENSATION, STOCK OPTIONS, BY EXERCISE PRICE (Details) - $11.00- 12.99	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, upper range limit (in dollars per share)	$ 12.99
Outstanding stock options, number (in shares) \| shares	311
Outstanding stock option, weighted average exercise price (in dollars per share)	$ 12.60
Outstanding stock option, weighted average remaining contractual life	1 year 1 month 6 days
Exercisable stock options, number (in shares) \| shares	311
Exercisable stock option, weighted average exercise price (in dollars per shares)	$ 12.60
Exercisable stock options, weighted average remaining contractual life	1 year 1 month 6 days
Exercise price range, lower range limit (in dollars per share)	$ 11.00

STOCK-BASED COMPENSATION, STOCK OPTION ACTIVITY (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0	$ 73	$ 42
Options
Outstanding at beginning of period (in shares)	9,904	13,278	20,265
Exercised (in shares)	(9,593)	(3,374)	(6,987)
Expired (in shares)	0	0	0
Outstanding at end of period (in shares)	311	9,904	13,278
Exercisable at end of period (in shares)	311	9,904	13,278
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 11.96	$ 11.98	$ 11.42
Exercised (in dollars per share)	11.94	12.05	10.34
Expired (in dollars per share)	0	0	0
Outstanding at end of period (in dollars per share)	12.60	11.96	11.98
Exercisable at end of period (in dollars per share)	$ 12.60	$ 11.96	$ 11.98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 0	$ 73	$ 42

STOCK-BASED COMPENSATION, INFORMATION RELATED TO STOCK OPTIONS EXERCISED (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Intrinsic value of options exercised	$ 46	$ 20	$ 50
Cash received from options exercised	114	41	72
Tax benefit realized from options exercised	$ 5	$ 3	$ 7

STOCK-BASED COMPENSATION, RESTRICTED STOCK ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted Average Grant Date Fair Value
Compensation expense relating to restricted stock	$ 137	$ 134	$ 107
Restricted Stock Awards
Shares
Beginning of period (in shares)	17,752	16,958	8,817
Granted (in shares)	19,211	12,504	10,634
Vested (in shares)	(4,817)	(11,710)	(2,493)
Forfeited (in shares)	(3,550)	0	0
End of period (in shares)	28,596	17,752	16,958
Weighted Average Grant Date Fair Value
Beginning of period (usd per share)	$ 18.03	$ 18.94	$ 16.44
Granted (usd per share)	16.87	16.95	19.20
Vested (usd per share)	17.83	18.19	17.38
Forfeited (usd per share)	16.90	0	0
End of period (usd per share)	$ 17.42	$ 18.03	$ 18.94
Compensation expense relating to restricted stock	$ 137	$ 134	$ 107
Tax benefit from compensation expense	29	$ 28	$ 23
Restricted stock compensation costs not yet recognized	$ 410
Compensation costs not yet recognized, period for recognition	4 years 2 months 12 days

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 5,742	$ 4,250	$ 5,057	$ 5,026	$ 4,830	$ 4,727	$ 4,728	$ 4,627	$ 20,075	$ 18,912	$ 14,845
Less allocation of earnings and dividends to participating securities									45	31	18
Net income allocated to common shareholders									$ 20,030	$ 18,881	$ 14,827
Weighted average common shares outstanding, gross (in shares)									12,943,622	13,100,161	11,950,360
Less average participating securities (in shares)									29,345	21,241	15,010
Weighted average number of shares outstanding used in the calculation of basic earnings per common share (in shares)									12,914,277	13,078,920	11,935,350
Add dilutive effect of:
Stock options (in shares)									307	3,973	6,903
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share (in shares)									12,914,584	13,082,893	11,942,253
Earnings per common share:
Basic (in dollars per share)	$ 0.44	$ 0.33	$ 0.39	$ 0.39	$ 0.37	$ 0.36	$ 0.36	$ 0.35	$ 1.55	$ 1.44	$ 1.24
Diluted (in dollars per share)	$ 0.44	$ 0.33	$ 0.39	$ 0.39	$ 0.37	$ 0.36	$ 0.36	$ 0.35	$ 1.55	$ 1.44	$ 1.24
Stock Compensation Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)									0	0

RELATED PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Related parties transaction [Roll Forward]
Beginning balances	$ 2,380,000	$ 2,438,000
Additions	1,139,000	609,000
Reductions	(590,000)	(667,000)
Ending Balance	2,929,000	2,380,000
Deposits from related parties	$ 3,526,000	$ 3,168,000

FAIR VALUE OF FINANCIAL INSTRUMENTS, AT FAIR VALUE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	$ 209,471	$ 178,000
Equity Securities, FV-NI	2,389	2,312
Other real estate owned and repossessed assets	0	197	$ 244
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	211,860	180,312
Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,777	4,621
Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	207,083	175,691
Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Nonrecurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,439	3,037
Impaired loans	3,439	2,840
Other real estate owned and repossessed assets		197
Nonrecurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Impaired loans	0	0
Other real estate owned and repossessed assets		0
Nonrecurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Impaired loans	0	0
Other real estate owned and repossessed assets		0
Nonrecurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,439	3,037
Impaired loans	3,439	2,840
Other real estate owned and repossessed assets		197
U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	2,388	2,309
U.S. Treasury notes \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	2,388	2,309
U.S. Treasury notes \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	2,388	2,309
U.S. Treasury notes \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
U.S. Treasury notes \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
U.S. Agency notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	67,900	48,984
U.S. Agency notes \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	67,900	48,984
U.S. Agency notes \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
U.S. Agency notes \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	67,900	48,984
U.S. Agency notes \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
U.S. Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	91,634	84,406
U.S. Agency mortgage-backed securities \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	91,634	84,406
U.S. Agency mortgage-backed securities \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
U.S. Agency mortgage-backed securities \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	91,634	84,406
U.S. Agency mortgage-backed securities \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
Non-taxable municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	12,933	22,321
Non-taxable municipal securities \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	12,933	22,321
Non-taxable municipal securities \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
Non-taxable municipal securities \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	12,933	22,321
Non-taxable municipal securities \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
Taxable municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	33,437	19,980
Taxable municipal securities \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	33,437	19,980
Taxable municipal securities \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
Taxable municipal securities \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	33,437	19,980
Taxable municipal securities \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0	0
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	1,402	1,345
Mutual funds \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	50
Available-for-sale Securities, Equity Securities		45
Mutual funds \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	50
Available-for-sale Securities, Equity Securities		45
Mutual funds \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	0
Available-for-sale Securities, Equity Securities		0
Mutual funds \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	0
Available-for-sale Securities, Equity Securities		0
Mutual Funds Measured At Net Asset Value [Member] [Domain] \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Equity Securities		1,300
Mutual funds measured at net asset value \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	1,352
Mutual funds measured at net asset value \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	1,352
Available-for-sale Securities, Equity Securities		1,300
Mutual funds measured at net asset value \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	0
Available-for-sale Securities, Equity Securities		0
Mutual funds measured at net asset value \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	0
Available-for-sale Securities, Equity Securities		0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI	987	967
Equity securities \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	987
Available-for-sale Securities, Equity Securities		967
Equity securities \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	987
Available-for-sale Securities, Equity Securities		967
Equity securities \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value
Available-for-sale Securities, Equity Securities		0
Equity securities \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0
Available-for-sale Securities, Equity Securities		$ 0
Corporate Bond Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	1,179
Corporate Bond Securities \| Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	1,179
Corporate Bond Securities \| Recurring fair value measurements \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	0
Corporate Bond Securities \| Recurring fair value measurements \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	1,179
Corporate Bond Securities \| Recurring fair value measurements \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, at fair value	$ 0

FAIR VALUE OF FINANCIAL INSTRUMENTS, QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS USED IN RECURRING AND NONRECURRING LEVEL 3 INPUTS (Details) - Nonrecurring fair value measurements $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 3,439	$ 3,037
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,439	3,037
Impaired Loans, Fair Value Calculated Using Estimated Sales Price [Member] \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,352	1,931
Impaired Loans, Fair Value Calculated Using Disounted Cash Flows [Member] \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 2,087	909
Other Real Estate Owned [Member] \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 197
Measurement Input, Discount Rate [Member] \| Valuation, Income Approach [Member] \| Impaired Loans [Member] \| Maximum \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Held-for-sale, Measurement Input	0.0825	0.0825
Measurement Input, Discount Rate [Member] \| Valuation, Income Approach [Member] \| Impaired Loans [Member] \| Minimum [Member] \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Held-for-sale, Measurement Input	0.0400	0.0450
Measurement Input, Discount Rate [Member] \| Valuation, Income Approach [Member] \| Impaired Loans [Member] \| Weighted Average \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Held-for-sale, Measurement Input	0.0474	0.0683

FAIR VALUE OF FINANCIAL INSTRUMENTS, BY BALANCE SHEET GROUPING (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
FINANCIAL ASSETS:
Debt securities, held-to-maturity	$ 24,960	$ 27,888
Accrued interest receivable	8,337	3,926
Carrying Amount
FINANCIAL ASSETS:
Cash and cash equivalents	31,730	20,765
Debt securities, held-to-maturity	24,810	27,525
Federal Reserve Bank stock	4,652	4,652
Federal Home Loan Bank stock	5,203	5,203
Loans, net	1,293,693	1,239,406
Accrued interest receivable	8,337	3,911
FINANCIAL LIABILITIES:
Deposits	1,455,423	1,348,280
Long-term debt	22,000	40,994
Accrued interest payable	452	705
Fair Value
FINANCIAL ASSETS:
Cash and cash equivalents	31,730	20,765
Debt securities, held-to-maturity	24,960	27,888
Federal Reserve Bank stock	4,652	4,652
Federal Home Loan Bank stock	5,203	5,203
Loans, net	1,252,642	1,252,156
Accrued interest receivable	8,337	3,911
FINANCIAL LIABILITIES:
Deposits	1,458,413	1,352,061
Long-term debt	22,595	41,487
Accrued interest payable	452	705
Quoted Prices in Active Markets for Identical Assets (Level 1)
FINANCIAL ASSETS:
Cash and cash equivalents	31,730	20,765
Debt securities, held-to-maturity	0	0
Federal Reserve Bank stock	4,652	4,652
Federal Home Loan Bank stock	5,203	5,203
Loans, net	0	0
Accrued interest receivable	0	0
FINANCIAL LIABILITIES:
Deposits	1,212,903	1,024,162
Long-term debt	0	0
Accrued interest payable	0	0
Significant Other Observable Inputs (Level 2)
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Debt securities, held-to-maturity	0	0
Federal Reserve Bank stock	0	0
Federal Home Loan Bank stock	0	0
Loans, net	0	0
Accrued interest receivable	8,337	3,911
FINANCIAL LIABILITIES:
Deposits	245,510	327,899
Long-term debt	22,595	41,487
Accrued interest payable	452	705
Significant Unobservable Inputs (Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents	0	0
Debt securities, held-to-maturity	24,960	27,888
Federal Reserve Bank stock	0	0
Federal Home Loan Bank stock	0	0
Loans, net	1,252,642	1,252,156
Accrued interest receivable	0	0
FINANCIAL LIABILITIES:
Deposits	0	0
Long-term debt	0	0
Accrued interest payable	$ 0	$ 0

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 15,945	$ 15,322	$ 15,957	$ 16,556	$ 16,424	$ 16,329	$ 16,328	$ 16,113	$ 63,780	$ 65,194	$ 54,594
Interest expense	1,432	1,793	1,959	2,378	2,577	2,751	2,738	2,722	7,562	10,788	6,425
NET INTEREST INCOME	14,513	13,529	13,998	14,178	13,847	13,578	13,590	13,391	56,218	54,406	48,169
Provision for loan losses	(151)	976	16	1,173	(6)	264	54	(105)	2,014	207	923
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	14,664	12,553	13,982	13,005	13,853	13,314	13,536	13,496	54,204	54,199	47,246
Total non-interest income	4,305	4,278	3,319	3,839	3,222	3,356	2,998	2,772	15,741	12,348	11,050
Total non-interest expenses	11,944	11,653	11,116	11,072	11,007	10,982	10,833	10,700	45,785	43,522	40,502
INCOME BEFORE INCOME TAXES	7,025	5,178	6,185	5,772	6,068	5,688	5,701	5,568	24,160	23,025	17,794
PROVISION FOR INCOME TAXES	1,283	928	1,128	746	1,238	961	973	941	4,085	4,113	2,949
NET INCOME	$ 5,742	$ 4,250	$ 5,057	$ 5,026	$ 4,830	$ 4,727	$ 4,728	$ 4,627	$ 20,075	$ 18,912	$ 14,845
Earnings per common share:
Basic (in dollars per share)	$ 0.44	$ 0.33	$ 0.39	$ 0.39	$ 0.37	$ 0.36	$ 0.36	$ 0.35	$ 1.55	$ 1.44	$ 1.24
Diluted (in dollars per share)	$ 0.44	$ 0.33	$ 0.39	$ 0.39	$ 0.37	$ 0.36	$ 0.36	$ 0.35	$ 1.55	$ 1.44	$ 1.24

PARENT COMPANY FINANCIAL INFORMATION - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS:
Equity Securities, FV-NI	$ 2,389	$ 2,312
Other assets, net	17,027	10,295
TOTAL ASSETS	1,745,884	1,639,308
Liabilities	1,505,059	1,411,260
Shareholders' equity	240,825	228,048	$ 218,985	$ 150,271
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,745,884	1,639,308
Parent Company
ASSETS:
Cash on deposit with subsidiary	3,648	3,252
Cash	175	23
Equity Securities, FV-NI	1,001	971
Investment in subsidiaries	235,857	223,735
Other assets, net	164	84
TOTAL ASSETS	240,845	228,065
Liabilities	20	17
Shareholders' equity	240,825	228,048
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 240,845	$ 228,065

PARENT COMPANY FINANCIAL INFORMATION - CONDENSED STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income:
Interest and dividends	$ 15,945	$ 15,322	$ 15,957	$ 16,556	$ 16,424	$ 16,329	$ 16,328	$ 16,113	$ 63,780	$ 65,194	$ 54,594
Net gain on sales of securities									221	(41)	(8)
INCOME BEFORE INCOME TAXES	7,025	5,178	6,185	5,772	6,068	5,688	5,701	5,568	24,160	23,025	17,794
Income tax benefit	(1,283)	(928)	(1,128)	(746)	(1,238)	(961)	(973)	(941)	(4,085)	(4,113)	(2,949)
NET INCOME	$ 5,742	$ 4,250	$ 5,057	$ 5,026	$ 4,830	$ 4,727	$ 4,728	$ 4,627	20,075	18,912	14,845
Parent Company
Income:
Dividends from subsidiaries									12,070	18,300	10,383
Interest and dividends									29	31	35
Other Income									147	215	(66)
Total income									12,246	18,546	10,352
Total expenses									1,326	1,369	1,668
INCOME BEFORE INCOME TAXES									10,920	17,177	8,684
Income tax benefit									404	222	341
Equity in undistributed income of subsidiaries									8,751	1,513	5,820
NET INCOME									$ 20,075	$ 18,912	$ 14,845

PARENT COMPANY FINANCIAL INFORMATION - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 5,742	$ 4,250	$ 5,057	$ 5,026	$ 4,830	$ 4,727	$ 4,728	$ 4,627	$ 20,075	$ 18,912	$ 14,845
Adjustments for non-cash items -
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES									13,678	21,968	19,742
Payments to Acquire Debt Securities, Available-for-sale									369	367	1,118
Cash flows from investing activities:
Available-for-sale									66,170	28,942	24,249
Proceeds from sales of equity securities									967	398	127
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES									(80,051)	9,056	(10,788)
Cash flows from financing activities:
Proceeds from issuance of common stock									54	76	65
Payments to repurchase common stock									(1,872)	(6,834)	(348)
Cash dividends paid on common stock									(9,101)	(8,658)	(7,773)
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES									77,338	(30,299)	(14,300)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR				20,765				20,040	20,765	20,040	25,386
CASH AND CASH EQUIVALENTS AT END OF YEAR	31,730				20,765				31,730	20,765	20,040
Parent Company
Cash flows from operating activities:
Net income									20,075	18,912	14,845
Adjustments for non-cash items -
Increase in undistributed income of subsidiaries									(8,751)	(1,513)	(5,820)
Other, net									(89)	476	(383)
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES									11,235	17,875	8,642
Payments to Acquire Debt Securities, Available-for-sale									346	337	90
Cash flows from investing activities:
Proceeds from sales of equity securities									463	397	107
Cash paid for business acquisition, net of cash received									0	0	(268)
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES									117	60	(251)
Cash flows from financing activities:
Proceeds from issuance of common stock									401	446	416
Payments to repurchase common stock									(1,872)	(6,834)	(348)
Cash dividends paid on common stock									(9,448)	(9,028)	(8,124)
Other									115	41	72
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES									(10,804)	(15,375)	(7,984)
NET CHANGE IN CASH AND CASH EQUIVALENTS									548	2,560	407
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR				$ 3,275				$ 715	3,275	715	308
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 3,823				$ 3,275				$ 3,823	$ 3,275	$ 715

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
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+ Details