CNB Community Bancorp Stock Price, News & Analysis

CNB Community Bancorp (OTCQX:CNBB) has announced a quarterly cash dividend of $0.30 per share for its shareholders, representing a $0.01 increase from the previous quarter's dividend payment. The dividend will be paid on April 11, 2025, to shareholders of record as of March 31, 2025.

CNB Community Bancorp (OTCQX: CNBB) reported its financial results for Q4 and full-year 2024. Q4 earnings were $2.4 million, slightly down from $2.5 million in Q4 2023. However, following a share buyback in September, basic earnings per share increased to $1.20, up from $1.17.

Full-year 2024 net income reached $11.6 million, a 9.1% increase from 2023's $10.6 million. Basic EPS for 2024 rose to $5.42 from $4.91. The company's total assets grew by $34.3 million to $1.28 billion, while net loans increased by $78.5 million to $1.03 billion. Total deposits rose by $23.7 million to $1.10 billion.

The company completed a tender offer to repurchase 145,000 shares at $38.50 per share in Q3 2024. Book value per share increased 10.8% to $48.65. Net interest income for Q4 2024 grew by $1.1 million to $11.4 million, while full-year net interest income increased by $3.9 million or 9.6%.

CNB Community Bancorp (OTCQX: CNBB) has announced two dividend payments for shareholders. The company declared a quarterly cash dividend of $0.30 per share, representing a $0.01 increase from Q4 2023's dividend. Additionally, the Board of Directors approved a special annual dividend of $0.20 per share. Both dividends will be paid on January 17, 2025, to shareholders of record as of December 31, 2024.

CNB Community Bancorp, Inc. (OTCQX: CNBB) reported strong financial results for Q3 2024. Net income increased by 30.4% to $3.5 million, with basic EPS rising to $1.59. For the nine months ended September 30, 2024, net income grew 12.9% to $9.1 million. The company saw improvements in key metrics:

- ROA increased to 1.10% for Q3 2024
- ROE rose to 12.99% for Q3 2024
- Book value per share reached $48.16, up 10.8% YoY

CNB completed a share repurchase of 145,000 shares at $38.50 per share. Total assets grew 4.3% YoY to $1.26 billion, while net loans increased 12.4% to $1.04 billion. However, total deposits decreased 4.7% to $1.05 billion. The company plans to open a new loan production office in Lansing this fall, focusing on relationship banking and strategic growth.

CNB Community Bancorp, Inc. (OTCQX: CNBB) has announced the final results of its tender offer to purchase up to 145,000 shares of its outstanding common stock at $38.50 per share. The offer, which expired on September 25, 2024, was oversubscribed with 188,375 shares validly tendered. As a result, the Company will purchase 145,000 shares on a pro rata basis, except for 'odd lots' which are purchased in full, for a total cost of $5,582,500.

The proration factor for the Tender Offer, after accounting for odd lots, was approximately 76.5%. The accepted shares represent about 6.5% of the Company's outstanding shares as of August 20, 2024. Payments for accepted shares are expected to be issued promptly after the expiration date.

CNB Community Bancorp, Inc. (OTCQX: CNBB) has announced a quarterly cash dividend of $0.29 per share on its common stock. This dividend remains consistent with the amount paid in the 3rd Quarter of 2023. The dividend is payable on October 11, 2024, for shareholders of record as of September 30, 2024. This announcement demonstrates CNB Community Bancorp's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties.

CNB Community Bancorp (OTCQX: CNBB) has launched a tender offer to purchase up to 145,000 shares of its outstanding common stock at $38.50 per share. The offer, expiring on September 25, 2024, aims to provide shareholders with an opportunity to sell shares above the average trading price and increase liquidity. Key points include:

• Shareholders can tender up to 20,000 shares each
• Odd lot holders (fewer than 100 shares) will have all shares purchased without proration
• Pro rata purchase for other tendered shares if oversubscribed
• No minimum number of shares required for the offer to proceed

The company views this as an efficient use of capital to provide value to shareholders. The offer is subject to conditions outlined in the Offer to Purchase and Letter of Transmittal documents.

CNB Community Bancorp, Inc. (OTCQX: CNBB), the parent company of County National Bank, reported its second quarter 2024 results, showing significant growth in several key areas. Earnings for Q2 2024 reached $2.9 million, a 15.5% increase from Q2 2023, driven primarily by a rise in net interest income. Basic earnings per share rose to $1.35 from $1.18 in the same period last year. For the first six months of 2024, CNBB reported a net income of $5.7 million, up 4.4% from the first half of 2023.

The annualized return on average assets (ROA) for Q2 2024 was 0.96%, up from 0.87% in Q2 2023, while the return on average equity (ROE) increased to 11.98% from 11.18% during the same period. Despite a slight decrease in total deposits and minimal changes in total assets since December 2023, net loans surged by 11.3% year-over-year to $1.01 billion.

CNBB's book value per share climbed to $46.14 at the end of June 2024, an 8.1% increase from June 2023. CEO Joseph R. Williams highlighted the company's focus on expanding lending and deposit relationships, maintaining a strong credit culture, and strategically managing risks amid a challenging economic environment.

CNB Community Bancorp announced a quarterly cash dividend of $0.29 per share, consistent with the dividend paid in Q2 2023. The dividend will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. The company continues to reward its shareholders, maintaining a steady dividend payout.