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Cornerstone Bancorp Inc. - CNBP STOCK NEWS

Welcome to our dedicated news page for Cornerstone Bancorp (Ticker: CNBP), a resource for investors and traders seeking the latest updates and insights on Cornerstone Bancorp.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cornerstone Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cornerstone Bancorp's position in the market.

Rhea-AI Summary
Cornerstone Bancorp, Inc. reported a consolidated net income of $2.2 million in the first quarter of 2024, with a net interest margin of 3.39%. Total consolidated assets increased to $982.8 million, and tangible shareholders' equity improved to $72.7 million. The bank paid a $2.50 per share dividend to shareholders.
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Cornerstone Bancorp, Inc. (CNBP) has declared a dividend of $2.50 per share to shareholders of record as of January 22, 2024, with an increase in unaudited earnings per share from $10.54 in 2022 to $11.01 in 2023. The company also authorized a share repurchase program for up to 30,000 shares of its issued and outstanding common stock during 2024.
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Cornerstone Bancorp, Inc. reported a net income of $2.5 million for the fourth quarter of 2023, compared to $3.1 million for the same period in 2022. For the year ended December 31, 2023, net income increased 3.8% to a record $10.88 million. The bank's high level of liquidity contributed to profitability through a higher net interest margin for the year. The loan portfolio had a strong year, increasing by $39 million, and asset quality remained high. However, total assets declined by 3.1% to $958.8 million at year-end, and the net interest margin decreased to 3.46% in the fourth quarter of 2023.
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Cornerstone Bancorp Inc.

OTC:CNBP

CNBP Rankings

CNBP Stock Data

70.18M
Commercial Banking
Finance and Insurance
Link
United States
Palatine