Item 1.01. Entry into a Material Definitive Agreement.

On February 8, 2022, the Board of Directors of LCNB Corp. ("LCNB") approved, and LCNB entered into, a revolving line of credit pursuant to a Business Loan Agreement, dated February 8, 2022 (the "Business Loan Agreement") with Bankers' Bank ("Lender"), pursuant to which Lender 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 12 month term and a maturity date of February 8, 2023. Amounts outstanding on the Line of Credit will bear interest at a per annum rate equal to the Wall Street Journal Prime Rate minus 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 Business Loan Agreement filed as Exhibit 10.1 to this Current Report on Form 8-K.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures set forth in Item 1.01 are incorporated by reference to this item.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description 10.1 Form of Business Loan Agreement between LCNB Corp. and Bankers ' Bank.

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