CNB COMMUNITY BNCP INC - CNBB STOCK NEWS

CNB Community Bancorp, Inc. (OTCQX: CNBB) has announced the final results of its tender offer to purchase up to 145,000 shares of its outstanding common stock at $38.50 per share. The offer, which expired on September 25, 2024, was oversubscribed with 188,375 shares validly tendered. As a result, the Company will purchase 145,000 shares on a pro rata basis, except for 'odd lots' which are purchased in full, for a total cost of $5,582,500.

The proration factor for the Tender Offer, after accounting for odd lots, was approximately 76.5%. The accepted shares represent about 6.5% of the Company's outstanding shares as of August 20, 2024. Payments for accepted shares are expected to be issued promptly after the expiration date.

CNB Community Bancorp, Inc. (OTCQX: CNBB) has announced a quarterly cash dividend of $0.29 per share on its common stock. This dividend remains consistent with the amount paid in the 3rd Quarter of 2023. The dividend is payable on October 11, 2024, for shareholders of record as of September 30, 2024. This announcement demonstrates CNB Community Bancorp's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties.

CNB Community Bancorp (OTCQX: CNBB) has launched a tender offer to purchase up to 145,000 shares of its outstanding common stock at $38.50 per share. The offer, expiring on September 25, 2024, aims to provide shareholders with an opportunity to sell shares above the average trading price and increase liquidity. Key points include:

• Shareholders can tender up to 20,000 shares each
• Odd lot holders (fewer than 100 shares) will have all shares purchased without proration
• Pro rata purchase for other tendered shares if oversubscribed
• No minimum number of shares required for the offer to proceed

The company views this as an efficient use of capital to provide value to shareholders. The offer is subject to conditions outlined in the Offer to Purchase and Letter of Transmittal documents.

CNB Community Bancorp, Inc. (OTCQX: CNBB), the parent company of County National Bank, reported its second quarter 2024 results, showing significant growth in several key areas. Earnings for Q2 2024 reached $2.9 million, a 15.5% increase from Q2 2023, driven primarily by a rise in net interest income. Basic earnings per share rose to $1.35 from $1.18 in the same period last year. For the first six months of 2024, CNBB reported a net income of $5.7 million, up 4.4% from the first half of 2023.

The annualized return on average assets (ROA) for Q2 2024 was 0.96%, up from 0.87% in Q2 2023, while the return on average equity (ROE) increased to 11.98% from 11.18% during the same period. Despite a slight decrease in total deposits and minimal changes in total assets since December 2023, net loans surged by 11.3% year-over-year to $1.01 billion.

CNBB's book value per share climbed to $46.14 at the end of June 2024, an 8.1% increase from June 2023. CEO Joseph R. Williams highlighted the company's focus on expanding lending and deposit relationships, maintaining a strong credit culture, and strategically managing risks amid a challenging economic environment.

CNB Community Bancorp announced a quarterly cash dividend of $0.29 per share, consistent with the dividend paid in Q2 2023. The dividend will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. The company continues to reward its shareholders, maintaining a steady dividend payout.

CNB Community Bancorp, Inc. reports a decrease in earnings for the first quarter of 2024 compared to the same period in 2023. The annualized return on average assets and equity also declined. However, the company saw an increase in total assets and net loans. Total deposits decreased slightly, while book value per share and total equity increased. The company's net income and basic EPS decreased, but net interest income increased. Pre-tax, pre-provision income also decreased for the first quarter of 2024.

CNB Community Bancorp, Inc. (CNBB) declares a quarterly cash dividend of $0.29 per share, matching the previous quarter's payout, payable on April 12, 2024.

CNB Community Bancorp, Inc. (CNBB) reported a decrease in earnings for the three months and twelve months ended December 31, 2023. The net income for the fourth quarter of 2023 was $2.5 million, down $603,000 from the same period in 2022. Basic earnings per share also decreased to $1.17 from $1.45. For the entire year of 2023, the company reported a net income of $10.6 million, a decrease of 13.1% from 2022. The annualized return on average assets (ROA) decreased to 0.83% for the fourth quarter of 2023, down 27 basis points from the same period in 2022. The annualized return on average equity (ROE) also decreased to 10.63% from 14.31%. Despite the decrease in earnings, the company saw positive growth in total assets, net loans, book value per share, and total equity.

CNB Community Bancorp, Inc. (OTC:CNBB) declares quarterly cash dividend of $0.29 per share, same as 4th Quarter 2022, and a special annual dividend of $0.20 per share, payable on January 12, 2024, for shareholders of record on December 31, 2023.