CNB Community Bancorp Stock Price, News & Analysis

CNB Community Bancorp, Inc. (OTCQX: CNBB) reported a strong first quarter for 2023, with earnings of $2.9 million, a 31% increase from $2.2 million in Q1 2022. Basic earnings per share rose to $1.34, up $0.31 from a year ago. Key financial metrics showed improvement, with annualized return on average assets increasing to 1.00% and return on average equity at 13.2%. Total assets were stable at $1.19 billion, while net loans grew by 11.7% to $890.3 million. Notably, total deposits rose 2.5% to $1.09 billion. Despite anticipating economic challenges ahead, the CEO expressed confidence in the company's ability to navigate through potential turmoil.

CNB Community Bancorp, Inc. (OTCQX:CNBB) declared a quarterly cash dividend of $0.29 per share, an increase of $0.02 compared to Q1 2022. This dividend is payable on April 14, 2023 to shareholders of record as of March 31, 2023. This move reflects the company's commitment to returning value to its shareholders. With over $1 billion in assets, CNB has been recognized as a growing institution in South Central Michigan, ranked 30^th among publicly traded banks under $2 billion by American Banker Magazine in 2022.

CNB Community Bancorp, Inc. (OTC: CNBB) reported outstanding financial results for the year and fourth quarter ending December 31, 2022. Earnings reached $3.1 million in Q4, a $901,000 increase from the previous year. Basic earnings per share rose to $1.45, up $0.41. For the full year, net income hit a record $12.2 million—up 6.7% from $11.4 million. Key highlights include improved annualized ROA at 1.10% and ROE at 14.31%. Total assets grew to $1.17 billion with net loans up 11.2%, reflecting a solid performance against rising interest rates.