Long-time CEO of local bank set to retire

A locally-based and growing bank is getting a new chief executive officer.

Plans were announced Monday for Stephen Wilson to retire as CEO of LCNB Corp., and its subsidiary LCNB National Bank. However, the Lebanon-based bank’s new CEO is a familiar face. Steve Foster — president since 2008 — will take on the new role of CEO effective at the beginning of the new year, while Wilson will continue to serve as chairman, according to the company.

Also, to assist with the transition, Wilson will continue to be employed by the bank through June 30.

“The thing I’m happiest about is the team we have in place going forward and how well we’ve done in good times and bad times,” Wilson said.

Wilson spent 41 years with LCNB. He became president in 1989 and CEO and chairman in 1992.

“There’s been a lot of dramatic changes… from the standpoint of this bank and the time period I’ve been here. We’ve gone from a $30 million bank with three locations to a $1 billion bank with 37 locations,” Wilson said.

LCNB National Bank operates more than 30 offices located in Butler, Clermont, Clinton, Fayette, Hamilton, Montgomery, Preble, Ross and Warren counties.

In recent years, LCNB made a series of acquisitions including BNB Bancorp Inc. and its banking subsidiary, Brookville National Bank, a deal that closed earlier this year; five branch offices of Eaton National Bank & Trust Co. in Preble County in a 2014 deal; and First Capital Bankshares Inc., the parent company of Citizens National Bank of Chillicothe, in a 2013 deal.

The retirement announcement comes as construction work is underway on the site of LCNB’s new administrative offices being built in downtown Lebanon. The historic headquarters will continue to operate in the current space on North Broadway Street.

“We’ve both gone through all these changes together,” said Foster, a 39-year veteran of LCNB. “We do have a good management team in place and a good employee base that’s grown in the last three years in a positive way, so we just look forward to continuing that growth in the future.”

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