Welcome to our dedicated page for CNB Financial Corp/PA news (Ticker: CCNE), a resource for investors and traders seeking the latest updates and insights on CNB Financial Corp/PA stock.
CNB Financial Corp (symbol: CCNE) is a prominent provider of integrated financial solutions aimed at creating value for both consumers and businesses. With a strong presence in the western central region of Pennsylvania and central Ohio, CNB Financial Corp offers a comprehensive range of products and services through its subsidiary, CNB Bank.
The company's robust portfolio includes traditional deposit accounts such as checking, savings, and time deposits. Additionally, CNB Financial Corp is renowned for its private banking services and a diverse array of lending options, encompassing real estate, commercial, industrial, residential, and consumer loans and lines of credit.
CNB Financial Corp also excels in providing credit card services, cash and wealth management, and a suite of online banking capabilities. Their electronic check deposit, merchant credit card processing, and ACH origination services are tailored to meet the needs of modern businesses.
Further, the corporation offers specialized services such as trust services, retirement plans, and other employee benefit plans, ensuring comprehensive financial management for its clients. Their innovation extends to payroll processing and on-site banker services, enhancing convenience and efficiency for businesses.
Recent achievements and ongoing projects highlight CNB Financial Corp's dedication to evolving with market demands. The company's sound financial condition and strategic partnerships underscore its stability and growth potential.
CNB Financial Corp's commitment to providing integrated solutions ensures they remain a leader in the financial sector, continually adapting to support the evolving needs of their clients.
CNB Financial Corporation (NASDAQ: CCNE) reported earnings of $14.2 million for Q1 2022, equating to $0.84 per diluted share, up 8.1% year-over-year. Loan growth, primarily in commercial lending, contributed to this increase. The total loan portfolio reached $3.6 billion, a 3.7% rise from Q4 2021. Despite a slight decline in total deposits to $4.7 billion, nonperforming assets decreased to 0.38%. With an annualized return on average equity of 13.99%, the corporation maintains a strong liquidity position of approximately $405 million, supporting future growth.
CNB Financial Corporation has announced the retirement of CEO Joseph B. Bower, effective December 31, 2022. Under Bower's leadership since 2009, the company's assets surged from $1.2 billion to $5.3 billion, marking a remarkable 342% increase. His tenure saw the successful establishment of divisions such as ERIEBANK and BankOnBuffalo, and strategic acquisitions including Farmer’s Citizens Bank. Bower's retirement marks the end of a significant era for CNB, with Michael Peduzzi slated to succeed him.
The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.175 per share, payable on March 15, 2022. Shareholders on record as of March 1, 2022 will receive this dividend. CNB Financial Corporation has consolidated assets of approximately $5.3 billion and offers a range of banking services through its primary subsidiary, CNB Bank. The bank operates 45 full-service offices across Pennsylvania, Ohio, New York, and Virginia.
The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.4453125 per depositary share, based on a $17.8125 per share dividend on its Series A Preferred Stock. This dividend is payable on March 1, 2022, for shareholders on record as of February 15, 2022. With consolidated assets of approximately $5.3 billion, CNB Financial conducts business primarily through its principal subsidiary, CNB Bank, which offers a wide range of banking services across multiple states.
CNB Financial Corporation (CCNE) reported record earnings for the year ended December 31, 2021, achieving net income of $57.7 million or $3.16 per diluted share, up 76.2% from 2020. The loan portfolio grew by 11.6%, reaching $3.6 billion, supported by strong commercial loan growth. Total deposits rose by 12.8% to $4.7 billion. Non-performing assets decreased significantly to 0.38% of total assets. The effective tax rate remained steady at around 18.5%. Overall, the Corporation showed robust financial health with enhanced book value and profitability metrics.
CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.175 per share, payable on December 15, 2021, to shareholders of record as of December 1, 2021. The company, with consolidated assets of approximately $5.2 billion, operates primarily through CNB Bank, which provides a full range of banking services including trust and wealth management across multiple states. CNB Bank comprises various divisions including ERIEBANK, FCBank, and BankOnBuffalo.
CNB Financial Corporation (Nasdaq: CCNE) declared a quarterly cash dividend of $0.4453125 per depositary share, resulting from a $17.8125 per share dividend on its Series A Preferred Stock. This dividend is payable on December 1, 2021, for shareholders on record as of November 17, 2021. With consolidated assets of approximately $5.2 billion, CNB Financial operates through its principal subsidiary, CNB Bank, offering a comprehensive range of banking services across Pennsylvania, Ohio, New York, and Virginia.
The Board of Directors of CNB Financial Corporation announced the retirement of Robert W. Montler after 16 years of service. Montler, who is also the CEO of Lee Industries and Keystone Process Equipment, has been instrumental in guiding CNB through significant changes in community banking. Peter Smith, Chairperson of CNB, praised Montler's business acumen and commitment. CNB Financial Corporation oversees approximately $5.2 billion in consolidated assets and operates various banking divisions across Pennsylvania, Ohio, New York, and Virginia.
CNB Financial Corporation (NASDAQ: CCNE) reported strong earnings for Q3 2021 with a net income of $14.9 million, or $0.82 per diluted share, marking a 74.5% increase year-over-year. Excluding PPP loans, the loan portfolio grew by 6.5% since December 31, 2020, driven by expansions in key regions. Total deposits rose to $4.6 billion, up 9.8% from the start of the year. The corporation redeemed $50 million in subordinated notes and reported an efficiency ratio of 59.47% for the quarter. Non-performing assets decreased to 0.42% of total assets, indicating improved asset quality.
CNB Financial Corporation (NASDAQ: CCNE) announced the redemption of its $50 million subordinated notes, maturing in 2026, on October 15, 2021. The redemption price totaled $50,718,750, which included $718,750 in accrued interest. This move was financed through cash on hand and proceeds from a new offering of $85 million in subordinated notes due 2031, which carry a lower interest rate of 3.25%. This strategic refinancing reflects CNB's focus on managing its debt profile effectively.
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