##### Table of Contents



Form 10-Q/A


AMENDMENT NO. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934  OR [     ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934  Commission file number: 0-13203 LNB Bancorp, Inc.  Ohio
    
    34-1406303(State of Incorporation)
    
    (I.R.S. Employer Identification No.)
 457 Broadway, Lorain, Ohio
    
    44052 - 1769(Address of principal executive offices)
    
    (Zip Code)
 (440) 244-6000
Registrants telephone number, including area code Not Applicable
(Former: name, address and fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months,
and (2) has been subject to such requirements for the past 90 days.       YES [X]      
NO [   ] Indicate by check mark whether the registrant is an accelerated filer (as
defined in Exchange Act Rule 12b-2)       YES [X]       NO [   ] Indicate the number of shares outstanding of each of the issuers classes of
common stock, as of the latest practicable date. Outstanding at April 30, 2004: 6,617,892 shares
Class of Common Stock: $1.00 par value




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LNB Bancorp, Inc.
Index Part I. Financial InformationItem 1. Financial StatementsCondensed Consolidated Balance Sheets 
March 31, 2004  and December 31, 2003Condensed Consolidated Statements of Income 
Three months ended March 31, 2004 and 2003Condensed Consolidated Statements of Cash Flows 
Three months ended March 31, 2004 and 2003Notes to Condensed Consolidated Financial StatementsSignaturesCertificationsCEO 302 CERTCFO 302 CERT906 CERTIFICATION906 CERTIFICATION




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Item 1. Financial
Statements

Registrant is hereby amending its periodic report on Form 10-Q for the period
ended March 31, 2004, as filed with the Securities and Exchange Commission on
April 30, 2004. In that report, Registrant inadvertently provided on its
Statement of Cash Flows for the period ended March 31, 2003 the figure of $6,832
for its "Cash and Cash Equivalents at Beginning of Year" line item. The correct
amount for this line item is $26,832, and such amount is now appropriately
indicated on Registrant's Statement of Cash Flows. All dollar amounts in this
report are reported in thousands of dollars, except per share amounts.
Registrant is resubmitting this Part I, Item 1 in its entirety.





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##### Table of Contents



LNB Bancorp, Inc. 
   March 31,
    
    December 31,(Dollars in thousands)
    
    2004
    
    2003Assets:Cash and due from banks
    
    $
    27,363
    
    
    $
    24,646Federal funds sold and short-term investments
    
    
    7,913
    
    
    
    3,103Securities:Available for sale, at fair value
    
    
    127,208
    
    
    
    143,459Held to maturity, at cost (fair value $21,402 and $4,952 respectively
    
    
    21,157
    
    
    
    4,789Other investments and equity stock, at cost
    
    
    3,915
    
    
    
    3,879Total securities
    
    
    152,280
    
    
    
    152,127Loans: (Note 8)Portfolio loans
    
    
    530,449
    
    
    
    528,096Loans held for sale
    
    
    6,559
    
    
    
    6,215Total loans
    
    
    537,008
    
    
    
    534,311Reserve for loan losses
    
    
    (7,819
    )
    
    
    (7,730
    )Net loans
    
    
    529,189
    
    
    
    526,581Bank owned life insurance
    
    
    12,861
    
    
    
    12,702Bank premises and equipment, net
    
    
    11,307
    
    
    
    11,009Intangible assets
    
    
    3,217
    
    
    
    3,245Accrued interest receivable
    
    
    2,728
    
    
    
    2,818Other assets
    
    
    4,872
    
    
    
    4,401Foreclosed assets
    
    
    662
    
    
    
    589Total Assets
    
    $
    752,392
    
    
    $
    741,221Liabilities and Shareholders Equity:Deposits:Demand and other noninterest-bearing deposits
    
    $
    84,250
    
    
    $
    86,693Savings, Market Access and passbook accounts
    
    
    270,100
    
    
    
    277,197Certificates of deposit
    
    
    209,463
    
    
    
    217,454Total deposits
    
    
    563,813
    
    
    
    581,344Securities sold under repurchase agreements
and other short-term borrowings
    
    
    22,963
    
    
    
    15,023Federal Home Loan Bank advances
    
    
    90,303
    
    
    
    71,540Accrued interest payable
    
    
    940
    
    
    
    875Accrued taxes, expenses and other liabilities (Note 6)
    
    
    4,830
    
    
    
    4,304Total liabilities
    
    
    682,849
    
    
    
    673,086Shareholders Equity: (Note 3)Preferred stock, no par value, Shares authorized 1,000,000, and Shares
outstanding noneCommon stock, $1.00 par: Shares authorized 15,000,000, Shares issued
6,766,867 and 6,766,867, respectively, Shares outstanding 6,617,838
and 6,617,618 respectively
    
    
    6,766
    
    
    
    6,766Additional capital
    
    
    26,243
    
    
    
    26,243Retained earnings
    
    
    39,779
    
    
    
    38,715Accumulated other comprehensive (loss)
    
    
    (364
    )
    
    
    (704
    )Treasury stock at cost, 149,029 and 149,249 shares, respectively
    
    
    (2,881
    )
    
    
    (2,885
    )Total Shareholders Equity
    
    
    69,543
    
    
    
    68,135Commitments and contingenciesTotal Liabilities and Shareholders Equity
    
    $
    752,392
    
    
    $
    741,221
 See accompanying notes to the
condensed consolidated financial statements.




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LNB Bancorp, Inc. 
   March 31,
    
    March 31,(Dollars in thousands, except per share amounts)
    
    2004
    
    2003Interest Income:Interest and fees on loans
    
    $
    7,793
    
    
    $
    8,202Interest and dividends on securities:U.S. Government agencies and corporations
    
    
    952
    
    
    
    1,238States and political subdivisions
    
    
    145
    
    
    
    155Other debt and equity securities
    
    
    72
    
    
    
    79Interest on Federal funds sold and other
interest-bearing instruments
    
    
    14
    
    
    
    12Total interest income
    
    
    8,976
    
    
    
    9,686Interest Expense:Interest on depositsTime certificates of $100,000 and over
    
    
    334
    
    
    
    375Other deposits
    
    
    1,280
    
    
    
    1,676Interest on securities sold under agreements
to repurchase and other short-term borrowings
    
    
    41
    
    
    
    68Interest on Federal Home Loan Bank advances
    
    
    451
    
    
    
    407Total interest expense
    
    
    2,106
    
    
    
    2,526Net Interest Income
    
    
    6,870
    
    
    
    7,160Provision for Loan Losses
    
    
    525
    
    
    
    564Net Interest Income after Provision for Loan Losses
    
    
    6,345
    
    
    
    6,596Operating Income:Service charges on deposits accounts
    
    
    984
    
    
    
    946Electronic banking fees
    
    
    631
    
    
    
    627Investment and Trust Services Income
    
    
    586
    
    
    
    454Gain on sale of securities
    
    
    223
    
    
    
    203Income from investment in life insurance
    
    
    159
    
    
    
    193Other service charges, exchanges and fees
    
    
    111
    
    
    
    160Gains on sale of loans
    
    
    37
    
    
    
    62Other operating income
    
    
    125
    
    
    
    54Total Operating Income
    
    
    2,856
    
    
    
    2,699Operating Expenses:Salaries and employee benefits (Notes 5 and 6)
    
    
    3,038
    
    
    
    3,157Net occupancy expenses
    
    
    374
    
    
    
    412Furniture and equipment expenses
    
    
    670
    
    
    
    549Card-related expenses
    
    
    332
    
    
    
    292Supplies and postage
    
    
    252
    
    
    
    282Professional services
    
    
    234
    
    
    
    218Marketing and advertising
    
    
    179
    
    
    
    240Ohio franchise tax
    
    
    188
    
    
    
    181Other operating expenses
    
    
    709
    
    
    
    808Total Operating Expenses
    
    
    5,976
    
    
    
    6,139Income Before Income Taxes
    
    
    3,225
    
    
    
    3,156Income Taxes
    
    
    969
    
    
    
    965Net Income
    
    $
    2,256
    
    
    $
    2,191Net Income Available to Common Shareholders:Basic
Earnings Per Share (Note 2 *)
    
    $
    .34
    
    
    $
    .33Diluted
Earnings Per Share (Note 2 *)
    
    $
    34
    
    
    $
    .33
 See accompanying notes to the
condensed consolidated financial statements.
* All shares and or share amounts have been adjusted to reflect the
three-for-two stock split in 2003.




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LNB Bancorp, Inc. 
   (Dollars in thousands)
    
    March 31, 2004
    
    March 31, 2003Cash Flows from Operating Activities:Interest received
    
    $
    9,230
    
    
    $
    9,827Other income received
    
    
    2,131
    
    
    
    2,161Interest paid
    
    
    (2,041
    )
    
    
    (2,526
    )Originations of loans held for sale
    
    
    (1,207
    )
    
    
    (4,314
    )Proceeds from sale of loans held for sale
    
    
    1,596
    
    
    
    5,295Gain on sale of loans held for sale
    
    
    (37
    )
    
    
    (62
    )Cash paid for salaries and employee benefits
    
    
    (3,366
    )
    
    
    (3,620
    )Net occupancy expense of premises paid
    
    
    (302
    )
    
    
    (333
    )Furniture and equipment expenses paid
    
    
    (309
    )
    
    
    (235
    )Cash paid for supplies and postage
    
    
    (252
    )
    
    
    (282
    )Cash paid for other operating expenses
    
    
    (1,993
    )
    
    
    (2,402
    )Net Cash Provided by Operating Activities
    
    
    3,450
    
    
    
    3,509Cash Flows from Investing Activities:Proceeds from maturities of securities held to maturity
    
    
    338
    
    
    
    5,325Proceeds from sales and maturities of securities available for sale
    
    
    33,155
    
    
    
    30,190Purchases of securities held to maturity
    
    
    (16,442
    )
    
    
    0Purchases of securities available for sale
    
    
    (16,675
    )
    
    
    (38,352
    )Increase in loans available for sale
    
    
    389
    
    
    
    1,269Net (increase) in loans made to customers
    
    
    (3,960
    )
    
    
    (4,839
    )Purchases of bank premises and equipment
    
    
    (741
    )
    
    
    (228
    )Proceeds from sales of bank premises and equipment
    
    
    10
    
    
    
    9Proceeds from liquidation of other foreclosed assets
    
    
    (242
    )
    
    
    22Purchases of other foreclosed assets
    
    
    192
    
    
    
    0Net Cash Used in Investing Activities
    
    
    (3,976
    )
    
    
    (6,604
    )Cash Flows from Financing Activities:Net increase (decrease) in demand and other noninterest-
bearing deposits
    
    
    (2,443
    )
    
    
    6,175Net (decrease) in savings, Market Access and passbook deposits
    
    
    (7,097
    )
    
    
    (4,076
    )Net increase (decrease) in certificates of deposit
    
    
    (7,991
    )
    
    
    10,629Net increase (decrease) in securities sold under
repurchase agreements and other short-term borrowings
    
    
    7,940
    
    
    
    (10,027
    )Proceeds from Federal Home Loan Bank Advances
    
    
    106,500
    
    
    
    75,500Cash paid on Federal Home Loan Bank Advances
    
    
    (87,737
    )
    
    
    (72,000
    )Cash paid in lieu of fractional shares related to three-for-two stock split
    
    
    0
    
    
    
    (13
    )Proceeds from exercise of stock options
    
    
    0
    
    
    
    19Issuance of Treasury stock
    
    
    4
    
    
    
    6Dividends paid
    
    
    (1,123
    )
    
    
    (1,188
    )Net Cash Provided by Financing Activities
    
    
    8,053
    
    
    
    5,025Net Increase in Cash and Cash Equivalents
    
    
    7,527
    
    
    
    1,930Cash and Cash Equivalents at Beginning of Year
    
    
    27,749
    
    
    
    26,832Cash and Cash Equivalents at End of Quarter
    
    $
    35,276
    
    
    $
    28,762
 See accompanying notes to the
condensed consolidated financial statements.




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(Dollars in thousands)
    
    March 31, 2004
    
    March 31, 2003Reconciliation of Net Income to Net cash Provided by Operating Activities:Net Income
    
    $
    2,256
    
    
    $
    2,191Adjustments to reconcile net income to net cash provided by
operating activities:Originations of loans held for sale
    
    
    (1,207
    )
    
    
    (4,314
    )Proceeds from sale of loans held for sale
    
    
    1,596
    
    
    
    5,295Gain on sale of investments and loans
    
    
    (260
    )
    
    
    (265
    )Depreciation and amortization
    
    
    433
    
    
    
    393Amortization of intangible assets
    
    
    28
    
    
    
    29Amortization of premiums on investment securities
    
    
    249
    
    
    
    280Amortization of deferred loan fees and costs, net
    
    
    (44
    )
    
    
    (80
    )Provision for loan losses
    
    
    525
    
    
    
    564Increase in cash surrender value of BOLI
    
    
    (159
    )
    
    
    (185
    )(Increase) decrease in accrued interest receivable
    
    
    90
    
    
    
    (61
    )(Increase) in other assets
    
    
    (471
    )
    
    
    (26
    )Increase in accrued interest payable
    
    
    65
    
    
    
    0Increase (Decrease) in accrued taxes, expenses and other liabilities
    
    
    458
    
    
    
    (239
    )Other, net
    
    
    (109
    )
    
    
    (73
    )Net Cash Provided by Operating Activities
    
    $
    3,450
    
    
    $
    3,509
 See accompanying notes to the
condensed consolidated financial statements.




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LNB Bancorp, Inc. 
 Notes to Condensed Consolidated Financial Statements (Unaudited) 1. Basis of Presentation These consolidated financial statements include the accounts of LNB Bancorp,
Inc. (the Parent Company) and its wholly-owned subsidiaries, Lorain National
Bank (the Bank) and Charleston Insurance Agency, Inc. Charleston Title
Agency, LLC, a 49%-owned subsidiary, is accounted for under the equity method.
The term the Corporation refers to LNB Bancorp, Inc. and its wholly-owned
subsidiaries, The Lorain National Bank and Charleston Insurance Agency, Inc.,
and a 49% interest in Charleston Title Agency, LLC. All significant
inter-company balances and transactions have been eliminated in consolidation.
Also included is the Banks wholly-owned subsidiary, North Coast Community
Development Corporation (NCCDC). All dollar amounts in this report are
reported in thousands of dollars, except per share amounts. The unaudited condensed consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the United States
of America for interim financial information and with instructions for Form
10-Q. Accordingly, they do not include all of the information and footnotes
required by accounting principles generally accepted in the United States of
America for complete financial statements. In the opinion of management, all
adjustments (all of which are normal and recurring in nature) considered
necessary for a fair presentation have been included. Operating results for the
three-month period ending March 31, 2004 are not necessarily indicative of the
results that may be expected for the year ending December 31, 2004. The 2003
LNB Bancorp, Inc. Annual Report on Form 10-K should be read in conjunction with
these statements. 2. Critical Accounting Policies and New Accounting and Regulatory
Pronouncements Critical Accounting Policies The Corporation maintains critical accounting policies for reserve for loan
losses, classification and evaluation of securities valuation and a deferred
tax asset valuation reserve. Refer to notes 1,5,7 and 12 of the Notes to
Consolidated Financial Statements for additional information incorporated by
reference to the 2003 Annual Report to Shareholders on Form 10-K. Impacts of Accounting and Regulatory Pronouncements: Corporate management is not aware of any proposed regulations or current
recommendations by the Financial Accounting Standards Board or by regulatory
authorities, which, if they were implemented, would have a material effect on
the liquidity, capital resources, or operations of the
Corporation. However, the potential impact of certain accounting and regulatory
pronouncements warrant further discussion. Financial Accounting Standards Board: The Financial Accounting Standards Board (FASB) has issued:




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SFAS No. 132(Revised 2003), Employers Disclosures about Pensions and Other
Postretirement Benefits. In December 2003, the FASB issued SFAS No. 132 (Revised 2003), Employers
Disclosures about Pensions and Other Postretirement Benefits. This Statement
expands upon the existing disclosure requirements as prescribed under the
original SFAS No. 132 by requiring more details about pension plan assets,
benefit obligations, cash flows, benefit costs and related information. SFAS
No. 132(R) also requires companies to disclose various elements of pension and
postretirement benefit costs in interim-period financial statements beginning
after December 15, 2003. This Statement is effective for financial statements
with fiscal years ending after December 15, 2003. The Corporation adopted the
additional year-end disclosure requirements under SFAS No. 132(R) during the
fourth quarter of 2003 and the interim-period financial statement disclosure
requirements in the first quarter of 2004 and its adoption did not have a
material impact on our financial position, results of operation, or liquidity.
SFAS No. 132(R) disclosures are included in Note 6. FASB Interpretation No. 46 (FIN No. 46), Consolidation of Variable Interest
Entities. and FASB Interpretation No. 46R (FIN No. 46R), Consolidation of
Variable Interest Entities an interpretation of ARB 51 (revised December
2003), In January 2003, the FASB issued Interpretation No. 46 (FIN No. 46),
Consolidation of Variable Interest Entities. This Interpretation clarifies
the application of ARB No. 51, Consolidated Financial Statements, for certain
entities in which equity investors do not have the characteristics of a
controlling financial interest or do not have sufficient equity at risk for the
entity to finance its activities without additional subordinated support from
other parties. This Interpretation requires variable interest entities (VIEs)
to be consolidated by the primary beneficiary which represents the enterprise
that will absorb the majority of the VIEs expected losses if they occur,
receive a majority of the VIEs residual returns if they occur, or both.
Qualifying Special Purpose Entities (QSPE) are exempt from the consolidation
requirements of FIN No. 46. This Interpretation was effective for VIEs created
after January 31, 2003 and for VIEs in which an enterprise obtains an
interest after that date. In December 2003, the FASB issued Interpretation No.
46R (FIN 46R), Consolidation of Variable Interest Entities  an interpretation
of ARB 51 (revised December 2003), which replaces FIN No. 46. FIN No. 46(R)
was primarily issued to clarify the required accounting for interests in VIEs.
Additionally, this Interpretation exempts certain entities from its
requirements and provides for special effective dates for enterprises that have
fully or partially applied FIN No. 46 as of December 24, 2003. Application of
FIN No. 46(R) is required in financial statements of public enterprises that have
interests in structures that are commonly referred to as special-purpose
entities, or SPEs, for periods ending after December 15, 2003. Application by
public enterprises, other than small business issuers, for all other types of
VIEs (i.e., non-SPEs) is required in financial statements for periods ending
after March 15, 2004. As of December 31, 2003 and March 31, 2004, the
Corporation had no variable interest entities and therefore, the interpretation
of FIN No. 46(R) had no impact on the financial position, results of operations
or liquidity. Other Statements of Financial Accounting Standards All other applicable Statements of Financial Accounting Standards that have
been issued and have effective dates impacting 2004 and prior years financial
statements were adopted by the Corporation. Corporate management believes there
are no Statements of Financial Accounting




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Standards, which have been issued and have implementation dates in the future
that will materially impact the financial statements of future years.
Significant actions by the Federal government and its agencies, affecting the
financial institutions industry in general, are currently having and will
continue to have an impact on the Corporation. A discussion of these actions
follows: SEC Staff Accounting Bulletin: No. 105 Application of Accounting Principles
to Loan Commitments In March 2004, the SEC issued Staff Accounting Bulletin No. 105 Application of
Accounting Principles to Loan Commitments. This Staff Accounting Bulletin
summarizes the views of the SEC staff regarding the application of generally
accepted accounting principles to loan commitments accounted for as derivative
instruments, a loan committed at a specified rate, but funded later.
Presently, the Corporation does not make loan commitments that will be funded
at a later date, and therefore, the SEC Staff Accounting Bulletin had no impact
on the financial position, results of operations or liquidity. Sarbanes-Oxley Act of 2002 On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of
2002, which contains important new requirements for public companies in the
area of financial disclosure and corporate governance. Although portions of the
act are still being fully implemented, we do not anticipate any significant
changes in the operations of and reporting by the Corporation as a result of
the act. In accordance with the requirements of the Sarbanes-Oxley Act, written
certifications for this quarterly report on Form 10-Q by the chief executive
officer and the chief financial officer of the Corporation are filed in this
report under Exhibit index (31(a)), (31(b)), (32(a)), and (32(b)). See
Controls and Procedures for the Corporations evaluation of disclosure
controls and procedures. 3. Common Stock On February 25, 2003, the Board of Directors of LNB Bancorp, Inc. declared a
three-for-two split of common stock. Shareholders received one additional
common share for every two shares owned on the stock-split record date of March
10, 2003. Shareholders participating in the Bancorps dividend reinvestment
plan, LNBB Direct (the Plan), were issued fractional shares. Shareholders not
participating in the Plan were issued cash in lieu of fractional shares. For
additional information see Form 8-K filed on February 25, 2003. On February 17, 2004, the Board of Directors of LNB Bancorp, Inc. declared a
first quarter cash dividend of $.18 per share payable April 1, 2004, to
shareholders of record on March 15, 2004. This represents a 5.9 percent
increase from last years first quarter cash dividend of $.17 per share. 4. Earnings per Share Basic earnings per common share is based upon weighted-average common shares
outstanding. The reconcilement of basic earnings per share to earnings per
diluted share follows:




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For the Three Months EndedMarch 31, 2004
    
    March 31, 2003Earnings per Share
    
    Net
    
    Average
    
    Per Share
    
    Net
    
    Average
    
    Per Share(Dollars in thousands, except per share)
    
    Income
    
    Shares
    
    Amounts
    
    Income
    
    Shares
    
    AmountsNet Income
    
    $
    2,256
    
    
    
    
    
    
    
    
    
    
    $
    2,191Basic Earnings Per Share
    
    $
    2,256
    
    
    
    6,617,715
    
    
    $
    .34
    
    
    $
    2,191
    
    
    
    6,602,127
    
    
    $
    .33Effect of Dilutive Securities
    
    
    
    
    
    
    10,176
    
    
    
    
    
    
    
    
    
    
    
    14,839Diluted Earnings Per Share
    
    $
    2,256
    
    
    
    6,627,891
    
    
    $
    .34
    
    
    $
    2,191
    
    
    
    6,616,966
    
    
    $
    .33
 5. Stock Option Plans The FASB issued SFAS No. 148, Accounting for Stock-Based Compensation -
Transition and Disclosure. SFAS No. 148 provides guidance on how to transition
from the intrinsic value method of accounting for stock-based employee
compensation under APB No. 25 to SFAS No. 123s fair value method for
accounting, if a company so elects. In accordance with the transitional
guidance of SFAS No. 148, the fair value method of accounting for stock options
should be applied prospectively to awards granted subsequent to January 1,
2003. As permitted, options granted prior to January 1, 2003, will continue to
be accounted for under APB Opinion 25, and the pro forma impact of accounting
for these options at fair value will continue to be disclosed in the notes to
the consolidated financial statements. The Corporation did not issue any stock
options during the first quarter of 2004 or during any quarter in 2003. All
stock options issued were 100% vested at March 31, 2004 and 2003, and therefore
had compensation cost for the Corporations stock- based compensation plans
been determined consistent with SFAS No. 123, net income and net income per
share would not have been impacted. 6. Retirement Pension Plan The Banks non-contributory defined benefit pension plan (the Plan) covers
substantially all of its employees. Effective December 31, 2002, the benefits
under the Plan were frozen and no additional benefits will be accrued under the
Plan after December 31, 2002. The 2003 loss
recognized due to settlement in the amount of $5 results from significant lump
sum distributions paid in 2003, but not actuarially projected for 2003. The net periodic pension cost charged to salaries and benefits expense in the
Income Statement amounted to $19 for the first quarter of 2004 and $29 for the
first quarter of 2003. Components of Net Periodic Pension Cost
    
    For the Three Months Ended(Dollars in thousands)
    
    March 31, 2004
    
    March 31, 2003Service cost
    
    $
    113
    
    
    $
    119Interest cost
    
    
    (94
    )
    
    
    (95
    )Loss recognized due to settlement
    
    
    0
    
    
    
    5Net Periodic Pension Cost
    
    
    19
    
    
    
    29




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Employer Contributions The Corporation previously disclosed in its 2003 Annual Report to Shareholders
on Form 10-K, that it expected to contribute $500 to the Lorain National Bank
Retirement Pension Plan in 2004. As of March 31, 2004, a $500 cash
contribution was made to the Plan. 7. Comprehensive Income The Corporations comprehensive income for the three months ended March 31,
2004 and 2003 are as follows: Comprehensive Income(Dollars in thousands)
    
    For the Three Months EndedMarch 31, 2004
    
    March 31, 2003Net Income
    
    $
    2,256
    
    
    $
    2,191Other comprehensive income:Change in unrealized gain on securities available
for sale, net of tax (credit) of $175 and $(169)
    
    
    340
    
    
    
    (328
    )Comprehensive Income
    
    $
    2,956
    
    
    $
    1,863Disclosure of Reclassification Amount:Unrealized holding gains (losses) arising
during the period, net of tax (credit) of $251 and $(238)
    
    $
    487
    
    
    $
    (462
    )Less reclassification adjustment for gains included
in net income, net of tax of $76 and $69
    
    
    147
    
    
    
    134Change in unrealized gain (loss) on
securities available for sale, net of tax (credit) of $175 and $(169)
    
    $
    340
    
    
    $
    (328
    )
 8. Components of the Loan Portfolio The following table presents the components of total loans at March
31, 2004 and December 31, 2003. Loan Portfolio(Dollars in thousands)
    
    For the Period EndedMarch 31,
    
    December 31,2004
    
    2003Commercial
    
    $
    299,323
    
    
    $
    297,468Mortgage
    
    
    108,725
    
    
    
    113,649Installment
    
    
    62,844
    
    
    
    59,217Home Equity
    
    
    59,557
    
    
    
    57,762Loans held for sale
    
    
    6,559
    
    
    
    6,215Total portfolio loans
    
    $
    537,008
    
    
    $
    534,311
 9. Reclassifications Certain amounts appearing in the financial statements and notes thereto, for
prior periods, have been reclassified to conform to the current presentation.
The reclassification had no effect on net income or shareholders equity as
previously reported.




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##### Table of Contents



SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized. LNB BANCORP, INC.
(Registrant)Date: May 11, 2004
    /s/ Terry M. WhiteTerry M. WhiteExecutive Vice President,
Chief Financial Officer and
Corporate Secretary Date: May 11, 2004
    /s/ Mitchell J. Fallis, CPAVice President andChief Accounting Officer




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##### Table of Contents



LNB Bancorp, Inc.
Exhibit Index
Pursuant to Item 601 (a) of Regulation S-K S-KReference
    
    
    
    PageNumber
    
    Exhibit
    
    Number(3.1)
    
    LNB Bancorp, Inc. Second Amended Articles of
Incorporation. Previously filed under Item 6,
Exhibit (3)(i) to Quarterly Report on Form 10-Q
(Commission File No. 0-13202) for the quarter ended
September 30, 2000, filed November 14, 2000 and
incorporated herein by reference.
    
    N/A(3.2)
    
    LNB Bancorp, Inc. Amended Code of Regulations.
Previously filed under Item 7, Exhibit 3 to Form 8-K
(Commission File No. 0-13203) filed January 4, 2001
and incorporated herein by reference.
    
    N/A(4.)
    
    Instruments Defining the Rights of Security Holders.
(See Exhibits 3.1 and 3.2)
    
    N/A(31(a))
    
    Chief Executive Officer Sarbanes-Oxley Act 302
Certification dated May 11, 2004 for LNB Bancorp,
Inc.s Quarterly Report on Form 10-Q for the quarter
ended March 31, 2004.(31(b))
    
    Chief Financial Officer Sarbanes-Oxley Act 302
Certification dated May 11, 2004 for LNB Bancorp,
Inc.s Quarterly Report on Form 10-Q for the quarter
ended March 31, 2004.(32(a))
    
    Certification pursuant to 18 U.S.C. section 1350, as
enacted pursuant to section 906 of the
Sarbanes-Oxley Act of 2002.(32(b))
    
    Certification pursuant to 18 U.S.C. section 1350, as
enacted pursuant to section 906 of the
Sarbanes-Oxley Act of 2002.