LCNB Corp. Announces Share Repurchase Program
24 April 2019 - 4:09PM
Business Wire
LCNB Corp. (the “Company”) (NASDAQ: LCNB) announced that its
Board of Directors authorized a share repurchase program (the
“Program”). Under the terms of the Program, the Company is
authorized to repurchase up to 500,000 of its outstanding
common shares. The Program is authorized to last no longer than
five years. The Program will replace and supersede LCNB’s prior
share repurchase programs, the “Market Repurchase Program” and the
“Private Sale Repurchase Program,” which were adopted in April
2001.
Under the Program, the Company may purchase common shares
through various means such as open market transactions, including
block purchases, and privately negotiated transactions. The number
of shares repurchased and the timing, manner, price and amount of
any repurchases will be determined at the Company’s discretion.
Factors include, but are not limited to, share price, trading
volume and general market conditions, along with the Company’s
general business conditions. The Program may be suspended or
discontinued at any time and does not obligate the Company to
acquire any specific number of its common shares.
As part of the Program, the Company is entering into a trading
plan adopted in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended. The 10b5-1
trading plan would permit common shares to be repurchased at times
that the Company might otherwise be precluded from doing so under
insider trading laws or self-imposed trading restrictions.
The 10b5-1 trading plan is administered by an independent
broker and is subject to price, market volume and timing
restrictions.
LCNB Corp. is a financial holding company headquartered in
Lebanon, Ohio. Through its subsidiary, LCNB National Bank (the
“Bank”), it serves customers and communities in Southwest and South
Central Ohio. A financial institution with a long tradition for
building strong relationships with customers and communities, the
Bank offers convenient banking locations in Butler, Clermont,
Clinton, Fayette, Franklin, Hamilton, Montgomery, Preble, Ross, and
Warren Counties, Ohio. The Bank continually strives to exceed
customer expectations and provides an array of services for all
personal and business banking needs including checking, savings,
online banking, personal lending, business lending, agricultural
lending, business support, deposit and treasury, investment
services, trust and IRAs and stock purchases. LCNB Corp. common
shares are traded on the NASDAQ Capital Market Exchange® under the
symbol “LCNB.” Learn more about LCNB Corp. at www.LCNB.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. These
forward-looking statements represent plans, estimates, objectives,
goals, guidelines, expectations, intentions, projections and
statements of our beliefs concerning future events, business plans,
objectives, expected operating results and the assumptions upon
which those statements are based. Forward-looking statements
include without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or
achievements, and are typically identified with words such as
‘‘may,’’ “could,” “should,” “will,” “would,” “believe,”
“anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or
words or phrases of similar meaning. We caution that the
forward-looking statements are based largely on our expectations
and are subject to a number of known and unknown risks and
uncertainties that are subject to change based on factors which
are, in many instances, beyond our control. These and other
important factors are detailed in various securities law filings
made periodically by the Company, copies of which are available
from the Company without charge. Actual results, performance or
achievements could differ materially from those contemplated,
expressed, or implied by the forward-looking statements. Any
forward-looking statements presented herein are made only as of the
date of this press release, and we do not undertake any obligation
to update or revise any forward-looking statements to reflect
changes in assumptions, the occurrence of unanticipated events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190424005661/en/
For more information contactSteve P. Foster,
CEOorRobert C. Haines II, Executive VP &
CFOat 800-344-BANK
LCNB (NASDAQ:LCNB)
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