Welcome to our dedicated page for Cnb Financial news (Ticker: CCNE), a resource for investors and traders seeking the latest updates and insights on Cnb Financial stock.
CNB Financial Corporation (NASDAQ: CCNE) is a financial holding company that conducts business primarily through its principal subsidiary, CNB Bank, a full-service bank serving individual, business, governmental, and institutional customers. News about CNB Financial Corporation often centers on its commercial banking activities, regional expansion, earnings performance, and capital actions.
Investors following CCNE news can expect regular updates on quarterly and annual financial results released by the corporation, including trends in loans, deposits, net interest margin, credit quality, and liquidity, as described in its earnings press releases. The company also issues announcements regarding cash dividends on its common stock and on its Series A Preferred Stock, with related distributions to holders of CCNEP depositary shares.
Another key news theme for CNB Financial Corporation is corporate development activity. The company has reported on regulatory approvals and completion of mergers, such as the acquisition of ESSA Bancorp, Inc. and the integration of ESSA Bank & Trust into CNB Bank. These transactions expand CNB Bank’s branch network and extend its operating footprint into additional regions, including Northeastern Pennsylvania and the Lehigh Valley.
Readers of this CCNE news page can review company-issued press releases and related disclosures covering financial results, dividend declarations, merger milestones, investor presentations, and other material events reported in Form 8-K filings. This makes the news feed a useful resource for tracking how CNB Financial Corporation manages its commercial banking operations, multi-brand bank divisions, and shareholder-related actions over time.
CNB Financial Corporation (NASDAQ: CCNE) announced the redemption of its $50 million subordinated notes, maturing in 2026, on October 15, 2021. The redemption price totaled $50,718,750, which included $718,750 in accrued interest. This move was financed through cash on hand and proceeds from a new offering of $85 million in subordinated notes due 2031, which carry a lower interest rate of 3.25%. This strategic refinancing reflects CNB's focus on managing its debt profile effectively.
CNB Financial Corporation (NASDAQ: CCNE) appointed Michael D. Peduzzi as President and Chief Operating Officer of CNB Bank. Peduzzi, with over 34 years in banking, previously served as CFO for a Pennsylvania community bank that increased assets from $1 billion to $3 billion. His leadership aims to steer CNB Bank's strategic growth, optimizing shareholder returns while adhering to regulations. The company has consolidated assets of approximately $5.1 billion and operates across several states, offering a full range of banking services.
CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.17 per share, payable on September 15, 2021, to shareholders on record as of September 1, 2021. The corporation has consolidated assets of approximately $5.1 billion and operates through its primary subsidiary, CNB Bank, which offers a wide range of banking services across multiple states, including Pennsylvania, Ohio, New York, and Virginia. CNB Bank provides services including trust and wealth management, catering to various customer segments.
The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.4453125 per depositary share, following a $17.8125 per share dividend on its Series A Preferred Stock. This dividend is payable on September 1, 2021, to shareholders on record as of August 18, 2021. CNB Financial has consolidated assets of approximately $5.1 billion and offers a comprehensive range of banking services through its subsidiary, CNB Bank, which operates 44 full-service offices across multiple states.
CNB Financial Corporation (NASDAQ: CCNE) reported a significant earnings increase for Q2 2021, with net income rising 69.7% to $14 million or $0.76 per share, driven by a wider net interest margin. The company expanded its market presence by entering Roanoke, Virginia, with the launch of Ridge View Bank. Total deposits grew to $4.5 billion, up 7.7% from year-end 2020, while assets under management reached $1.2 billion. The issuance of $85 million in subordinated notes aims to redeem existing debt and strengthen capital.
CNB Financial Corporation (NASDAQ: CCNE) announced the completion of an $85 million private placement of 3.25% subordinated notes due 2031. The notes will initially yield a fixed interest rate of 3.25% until June 2026, after which the rate will reset quarterly based on the Secured Overnight Financing Rate plus 258 basis points. Proceeds will be used for general corporate purposes, including potential redemption of existing debt. The notes are designed to qualify as Tier 2 capital under Federal Reserve regulations.
The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) declared a quarterly cash dividend of $0.17 per share on common stock. This dividend is payable on June 15, 2021, to shareholders of record as of June 1, 2021. CNB Financial Corporation, with consolidated assets of approximately $4.9 billion, primarily operates through CNB Bank, offering a range of banking services across several states, including Pennsylvania, Ohio, and New York.
The Board of Directors of CNB Financial Corporation (CCNE) has declared a quarterly cash dividend of $0.4453125 per depositary share, stemming from a $17.8125 per share dividend on its Series A Preferred Stock. This dividend is set to be paid on June 1, 2021, to shareholders recorded as of May 18, 2021. CNB Financial Corporation, with consolidated assets of approximately $4.9 billion, operates primarily through CNB Bank, which offers a comprehensive range of banking services across Pennsylvania, Ohio, and New York.
Joseph E. Dell, Jr., Senior Executive VP and Chief Commercial Banking Officer, will retire on December 31, 2021, as per CNB Bank's bylaws. Dell has over 40 years in financial services and has significantly contributed to the bank's commercial lending strategies. Starting January 1, 2022, he will take on a new role supporting various initiatives at CNB. Angela Wilcoxson, who joined the bank in August 2020, will be promoted to EVP Chief Commercial Banking Officer.
CNB Financial Corporation (NASDAQ: CCNE) reported strong Q1 earnings on April 19, 2021, with net income at $14.2 million, or $0.78 per diluted share, reflecting a 36.8% increase year-over-year. Total deposits soared 40.6% to $4.4 billion, driven by organic growth and government stimulus initiatives. Loan portfolio grew by 19.3% to $3.4 billion. However, the bank reported $114.0 million in deferred loan payments due to COVID-19. Earnings performance highlighted a return on average tangible common equity of 16.70% and increased assets under management to $1.2 billion, marking a 23.6% rise.