Welcome to our dedicated page for Commercial news (Ticker: CEFC), a resource for investors and traders seeking the latest updates and insights on Commercial stock.
Commercial National Financial Corporation (CEFC) delivers essential banking services across Michigan through its subsidiary Commercial Bank. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and community initiatives.
Access authoritative coverage of CEFC's press releases, including earnings announcements, leadership changes, and product launches. Our curated collection simplifies tracking regulatory filings, loan portfolio expansions, and market position updates relevant to regional banking trends.
Discover categorized updates on commercial lending strategies, deposit product innovations, and risk management practices. Content spans merger/acquisition activity, branch network growth, and agricultural financing programs – critical for assessing the company's operational health.
Bookmark this page for streamlined access to CEFC's evolving story. Combine quarterly results with strategic announcements to gauge long-term performance within Michigan's competitive financial landscape.
Commercial National Financial (CEFC) reported Q2 2024 net income of $1,412,000 or $0.36 per share, compared to $1,543,000 or $0.39 per share in Q2 2023. The Return on Equity (ROE) decreased to 11.96% from 14.44% year-over-year. Net interest income slightly increased by 0.8%, with interest income up by $430,000 due to higher yields. Non-interest income rose by 19.1%, while operating expenses increased by 11.5%. Total assets decreased to $572.7 million from $587.9 million, with a 1.4% decrease in deposit balances. Loan quality remained strong with a non-performing assets ratio of 0.22%. CEFC's subsidiary, Commercial Bank, maintains a well-capitalized status. The company also announced the opening of a new banking office in Grand Rapids.
Commercial National Financial (Pink Sheets: CEFC) announced on May 17, 2024, that its Board of Directors has declared a regular quarterly cash dividend of 14 cents per share. The dividend is payable on July 1, 2024, to shareholders of record on June 14, 2024. Based on the recent closing price of $8.54 per share, the annualized dividend yield is 6.56%.
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