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.

CNB Community Bancorp, Inc. (OTC:CNBB) has declared a quarterly cash dividend of $0.29 per share, reflecting a $0.02 increase from last year. Additionally, shareholders will receive a special annual dividend of $0.20 per share. Both dividends are payable on January 13, 2023. The bank, which has served South Central Michigan since 1934, has over $1 billion in assets and was ranked 30th in American Banker Magazine's Top 200 publicly traded banks under $2 billion in 2022.

CNB Community Bancorp, Inc. (OTC: CNBB) announced a strong financial performance for the third quarter of 2022, reporting earnings of $3.9 million, a 35.8% increase from $2.9 million during the same period in 2021. Basic earnings per share surged to $1.84. However, for the nine months ended September 30, 2022, net income decreased slightly by 1.4% to $9.1 million. Key metrics showed a rise in total assets to $1.12 billion, while net loans grew by 20.4% to $862.7 million. Book value per share also improved to $39.73, reflecting a 7.0% increase year-over-year.

CNB Community Bancorp, Inc. (OTCQX: CNBB) has appointed Joseph R. Williams as its new President and CEO, effective early October 2022. Mr. Williams, who is currently a board member, brings nearly 40 years of banking experience from his tenure at Old National Bank and other institutions. His focus will be on community impact, employee development, client experience, and shareholder returns. The board, led by Chairman Craig S. Connor, expresses confidence in Mr. Williams' leadership skills and industry knowledge, projecting a brighter future for stakeholders.