Welcome to our dedicated page for CNB Community Bancorp news (Ticker: CNBB), a resource for investors and traders seeking the latest updates and insights on CNB Community Bancorp stock.
CNB Community Bancorp, Inc. (OTCQX: CNBB) is a commercial banking company and the parent of County National Bank. Its news flow consists largely of earnings announcements, dividend declarations, and capital management actions, giving investors and observers insight into how the company manages its balance sheet, capital, and community banking activities.
Regular earnings releases detail quarterly and annual results, including net income, basic earnings per share, return on average assets, return on average equity, and book value per share. These updates also explain the drivers behind performance, such as changes in net interest income, noninterest income from areas like Wealth Management and gain on sale of loans, and noninterest expenses related to compensation, benefits, occupancy, equipment, data communications, and fixed assets.
CNB Community Bancorp, Inc. also issues frequent announcements about its dividend policy. The company has declared quarterly cash dividends with noted increases over prior-year quarters and has announced a special annual dividend in addition to its regular payments. These dividend updates provide a view of how the company uses its capital position to return funds to shareholders.
Another recurring news theme is the company’s issuer tender offers to repurchase shares of its common stock. Press releases describe the commencement and final results of these offers, including the number of shares tendered and accepted, the purchase price, and the percentage of outstanding shares involved. Management commentary in these announcements explains the rationale for using tender offers as a method of returning capital and adjusting the ownership structure.
By following CNBB news, readers can track the company’s reported financial performance, dividend actions, and share repurchase activity, as well as management’s commentary on community banking, relationship banking, and growth in its markets.
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.
On September 15, 2022, CNB Community Bancorp, Inc. (OTCQX: CNBB) declared a quarterly cash dividend of $0.28 per share, marking a $0.01 increase from the previous quarter. This dividend is payable on October 14, 2022, to shareholders on record as of September 30, 2022. CNB Community Bancorp operates County National Bank, a full-service community bank with over $1 billion in assets, serving South Central Michigan since 1934. The bank has 13 full-service offices and is recognized among the Top 200 publicly traded banks under $2 billion in assets.
CNB Community Bancorp, Inc. (OTC: CNBB) has announced the appointment of Craig S. Connor as interim President and CEO, following the departure of John R. Waldron, who had served as CEO for 20 years. Connor, who previously held this position for 15 years until his retirement in 2019, is also the Chairman of the Board. The board expressed gratitude for Waldron's contributions during challenging times and reaffirmed its commitment to community service and financial performance.
On March 18, 2022, CNB Community Bancorp (OTCQX: CNBB) declared a quarterly cash dividend of $0.27 per share, unchanged from the previous quarter. This dividend is payable on April 15, 2022 to shareholders on record by March 31, 2022. CNB Community Bancorp operates as a one-bank holding company, with its subsidiary, County National Bank, offering comprehensive financial services in South Central Michigan since 1934. The bank has over $1 billion in assets and was recognized among the top 200 publicly traded banks under $2 billion by American Banker Magazine in 2021.
CNB Community Bancorp, Inc. (OTC: CNBB) reported a fourth-quarter 2021 net income of $2.2 million, down $136,000 from the previous year. Basic earnings per share fell to $1.04, down from $1.11. For the entire year, net income rose to $11.4 million, an increase of 13.2%, with basic earnings per share at $5.36. Key metrics showed total assets at $1.15 billion, a 22.5% increase, and total deposits grew by 24.4% to $1.05 billion. However, returns on assets and equity decreased, reflecting challenges faced during the year.
CNB Community Bancorp announced a quarterly cash dividend of $0.27 per share, matching the amount paid in the 4th quarter of 2020. Additionally, a special annual dividend of $0.20 per share was declared, both payable on January 14, 2022. CNB Community Bancorp, operating as a full-service community bank since 1934, has over $1 billion in assets and was ranked 23rd in American Banker Magazine's list of top-performing banks under $2 billion in 2021. The company has 13 full-service offices and 19 ATMs in South Central Michigan.
CNB Community Bancorp, Inc. (OTC: CNBB) reported a 12.1% increase in third-quarter earnings, totaling $2.9 million for the period ending September 30, 2021. Basic earnings per share rose from $1.22 to $1.36. Year-to-date net income grew by 19.5% to $9.2 million. Total assets climbed 16.2% year-over-year, reaching $1.1 billion, with deposits up 17.5% to $990.1 million. However, the annualized return on average assets (ROA) decreased to 1.22%.
CNB Community Bancorp, Inc. (OTCQX:CNBB) declared a quarterly cash dividend of $0.27 per share, marking an increase of $0.01 from the previous year. This dividend is payable on October 15, 2021. As a one-bank holding company, CNB operates County National Bank, which has over $1 billion in assets and ranks 23rd in American Banker Magazine's Top 200 publicly traded banks under $2 billion. Serving South Central Michigan since 1934, CNB offers a variety of financial products through its network of branches and ATMs.
CNB Community Bancorp, Inc. (OTCQX: CNBB) reported a strong financial performance for Q2 2021, with earnings of $3.3 million, a 17.2% increase from Q2 2020. Basic EPS rose to $1.55, up from $1.33 in 2020. For the first half of 2021, net income totaled $6.3 million, reflecting a 22.4% increase year-over-year. Key metrics improved: ROA was 1.39%, and total assets increased 10.4% to $1.05 billion. Total deposits also saw significant growth, rising by 11.5% to $945.1 million.
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