LCNB CORP: Entering into a Material Definitive Agreement, Creating a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Registrant Arrangement, Financial Statements and Exhibits (Form 8-K)


Section 1.01. Conclusion of a significant definitive agreement.

At February 8, 2022the board of directors of LCNB Corp. (“LCNB”) has approved, and LCNB has entered into, a revolving line of credit under a commercial loan agreement dated February 8, 2022 (the “Commercial Loan Agreement”) with bankers bank (“Lender”), pursuant to which the Lender has agreed to lend up to $20,000,000.00 through a revolving line of credit (the “Line of Credit”).

The line of credit is unsecured, has a term of 12 months and a maturity date of
February 8, 2023. Amounts outstanding on the line of credit will bear interest at an annual rate equal to the Wall Street Journal prime rate less 0.25%. There is no prepayment penalty associated with the line of credit. LCNB is subject to standard events of default.

The foregoing descriptions are summaries only and do not purport to set forth the complete terms of the Line of Credit, and such descriptions are qualified in their entirety by reference to the Commercial Loan Agreement filed as Exhibit 10.1 to this Current Report. on form 8-K

Section 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.

The information provided in Section 1.01 is incorporated by reference into that Section.

Item 9.01 Financial statements and supporting documents.

(d) Exhibits.

Exhibit No. Description 10.1 Form of commercial loan agreement between LCNB Corp. and bankers bank.

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