M&A Team Announces Signing Agreement for LCNB Corp. to Acquire Cincinnati Bancorp
Dinsmore & Shohl LLP corporate partners Christian Gonzalez and Michael Dailey led the Firm’s M&A team in representing LCNB Corp. (“LCNB”) (NASDAQCM: LCNB), in their acquisition of Cincinnati Bancorp Inc. (“CNNB”), in a stock-and-cash transaction.
The companies announced the agreement May 18, 2023.
CNNB operates five full-service branch offices in Cincinnati, Ohio and northern Kentucky, and has approximately $304.7 million in assets, $262.9 million in loans, $223.6 million of deposits and $40.3 million in consolidated stockholders’ equity.
This transaction will significantly increase LCNB’s presence in the Cincinnati market, and expand their community banking franchise into northern Kentucky.
In October of 2022, Gonzalez and Dailey announced Dinsmore M&A teams played roles in signings of three public company deals within a week. Since then, all three have closed and more are in the works.