CNB COMMUNITY BANCORP, INC. REPORTS 2024 RESULTS
CNB Community Bancorp (OTCQX: CNBB) reported its financial results for Q4 and full-year 2024. Q4 earnings were $2.4 million, slightly down from $2.5 million in Q4 2023. However, following a share buyback in September, basic earnings per share increased to $1.20, up from $1.17.
Full-year 2024 net income reached $11.6 million, a 9.1% increase from 2023's $10.6 million. Basic EPS for 2024 rose to $5.42 from $4.91. The company's total assets grew by $34.3 million to $1.28 billion, while net loans increased by $78.5 million to $1.03 billion. Total deposits rose by $23.7 million to $1.10 billion.
The company completed a tender offer to repurchase 145,000 shares at $38.50 per share in Q3 2024. Book value per share increased 10.8% to $48.65. Net interest income for Q4 2024 grew by $1.1 million to $11.4 million, while full-year net interest income increased by $3.9 million or 9.6%.
CNB Community Bancorp (OTCQX: CNBB) ha riportato i risultati finanziari per il quarto trimestre e per l'intero anno 2024. Gli utili del quarto trimestre sono stati di $2.4 milioni, leggermente in calo rispetto ai $2.5 milioni del quarto trimestre 2023. Tuttavia, dopo un riacquisto di azioni avvenuto a settembre, l'utile per azione di base è aumentato a $1.20, rispetto a $1.17.
Il reddito netto per l'intero anno 2024 ha raggiunto $11.6 milioni, con un incremento del 9.1% rispetto ai $10.6 milioni del 2023. L'EPS di base per il 2024 è salito a $5.42 da $4.91. Gli attivi totali dell'azienda sono cresciuti di $34.3 milioni raggiungendo $1.28 miliardi, mentre i prestiti netti sono aumentati di $78.5 milioni a $1.03 miliardi. I depositi totali sono aumentati di $23.7 milioni raggiungendo $1.10 miliardi.
L'azienda ha completato un'offerta di acquisto per riacquistare 145.000 azioni a $38.50 per azione nel terzo trimestre del 2024. Il valore contabile per azione è aumentato del 10.8% a $48.65. Il reddito netto da interessi per il quarto trimestre 2024 è cresciuto di $1.1 milioni a $11.4 milioni, mentre il reddito netto da interessi per l'intero anno è aumentato di $3.9 milioni, pari al 9.6%.
CNB Community Bancorp (OTCQX: CNBB) reportó sus resultados financieros para el cuarto trimestre y el año completo 2024. Las ganancias del cuarto trimestre fueron de $2.4 millones, ligeramente por debajo de los $2.5 millones del cuarto trimestre de 2023. Sin embargo, tras una recompra de acciones en septiembre, la ganancia básica por acción aumentó a $1.20, desde $1.17.
El ingreso neto del año completo 2024 alcanzó $11.6 millones, un aumento del 9.1% con respecto a los $10.6 millones de 2023. El EPS básico para 2024 subió a $5.42 desde $4.91. Los activos totales de la compañía crecieron en $34.3 millones, alcanzando $1.28 mil millones, mientras que los préstamos netos aumentaron en $78.5 millones a $1.03 mil millones. Los depósitos totales aumentaron en $23.7 millones, alcanzando $1.10 mil millones.
La compañía completó una oferta pública de recompra de 145,000 acciones a $38.50 por acción en el tercer trimestre de 2024. El valor contable por acción aumentó un 10.8% a $48.65. Los ingresos netos por intereses para el cuarto trimestre de 2024 crecieron en $1.1 millones, llegando a $11.4 millones, mientras que el ingreso neto por intereses del año completo aumentó en $3.9 millones, o un 9.6%.
CNB Community Bancorp (OTCQX: CNBB)는 2024년 4분기 및 연간 재무 결과를 발표했습니다. 4분기 이익은 240만 달러로, 2023년 4분기 250만 달러에서 약간 감소했습니다. 그러나 9월에 주식 매입이 이루어진 후, 기본 주당 순이익은 1.20달러로 증가했으며, 이는 1.17달러에서 상승한 것입니다.
2024년 전체 연간 순이익은 1160만 달러에 달하여, 2023년 1060만 달러에 비해 9.1% 증가했습니다. 2024년 기본 주당순이익(EPS)은 4.91달러에서 5.42달러로 상승했습니다. 회사의 총 자산은 3430만 달러 증가하여 12억 8000만 달러에 이르고, 순 대출은 7850만 달러 증가하여 10억 3000만 달러가 되었습니다. 총 예금은 2370만 달러 증가하여 11억 달러에 이릅니다.
회사는 2024년 3분기에 주당 38.50달러에 145,000주를 매입하는 공개 매수 제안을 완료했습니다. 주당 장부 가치는 10.8% 증가하여 48.65달러에 도달했습니다. 2024년 4분기의 순이자 수익은 110만 달러 증가하여 1140만 달러가 되며, 전체 연간 순이자 수익은 390만 달러 또는 9.6% 증가했습니다.
CNB Community Bancorp (OTCQX: CNBB) a annoncé ses résultats financiers pour le quatrième trimestre et pour l'année complète 2024. Les bénéfices du quatrième trimestre se sont élevés à 2,4 millions de dollars, légèrement en baisse par rapport aux 2,5 millions de dollars du quatrième trimestre 2023. Cependant, suite à un rachat d'actions en septembre, le bénéfice par action de base a augmenté à 1,20 dollar, contre 1,17 dollar auparavant.
Le revenu net pour l'année complète 2024 a atteint 11,6 millions de dollars, enregistrant une augmentation de 9,1% par rapport aux 10,6 millions de dollars de 2023. Le BPA de base pour 2024 est passé de 4,91 dollars à 5,42 dollars. Les actifs totaux de l'entreprise ont crû de 34,3 millions de dollars pour atteindre 1,28 milliard de dollars, tandis que les prêts nets ont augmenté de 78,5 millions de dollars pour atteindre 1,03 milliard de dollars. Les dépôts totaux ont augmenté de 23,7 millions de dollars, atteignant 1,10 milliard de dollars.
L'entreprise a complété une offre publique de rachat de 145 000 actions à 38,50 dollars par action au troisième trimestre 2024. La valeur comptable par action a augmenté de 10,8% pour atteindre 48,65 dollars. Le revenu net d'intérêts pour le quatrième trimestre 2024 a augmenté de 1,1 million de dollars, atteignant 11,4 millions de dollars, tandis que le revenu net d'intérêts pour l'année complète a augmenté de 3,9 millions de dollars, soit 9,6%.
CNB Community Bancorp (OTCQX: CNBB) berichtete über seine finanziellen Ergebnisse für das vierte Quartal und das Gesamtjahr 2024. Der Gewinn im vierten Quartal betrug 2,4 Millionen US-Dollar, was einen leichten Rückgang von 2,5 Millionen US-Dollar im vierten Quartal 2023 bedeutet. Nach einer Aktienrückkaufaktion im September stieg jedoch das Basis-Earnings-per-Share auf 1,20 US-Dollar, nach 1,17 US-Dollar.
Der Nettogewinn für das Gesamtjahr 2024 erreichte 11,6 Millionen US-Dollar, was einem Anstieg von 9,1% gegenüber 10,6 Millionen US-Dollar im Jahr 2023 entspricht. Das Basis-EPS für 2024 stieg von 4,91 US-Dollar auf 5,42 US-Dollar. Die gesamten Vermögenswerte des Unternehmens wuchsen um 34,3 Millionen US-Dollar auf 1,28 Milliarden US-Dollar, während die Netto-Darlehen um 78,5 Millionen US-Dollar auf 1,03 Milliarden US-Dollar zunahmen. Die Gesamt-Einlagen stiegen um 23,7 Millionen US-Dollar auf 1,10 Milliarden US-Dollar.
Das Unternehmen schloss im dritten Quartal 2024 ein öffentliches Rückkaufangebot über 145.000 Aktien zu 38,50 US-Dollar pro Aktie ab. Der Buchwert pro Aktie stieg um 10,8% auf 48,65 US-Dollar. Die Nettozinsvergütung für das vierte Quartal 2024 wuchs um 1,1 Millionen US-Dollar auf 11,4 Millionen US-Dollar, während die Nettodividende für das gesamte Jahr um 3,9 Millionen US-Dollar oder 9,6% zunahm.
- Net income increased 9.1% to $11.6 million for full-year 2024
- Basic EPS improved to $5.42 in 2024, up from $4.91
- Net loans grew 8.2% to $1.03 billion
- Book value per share increased 10.8% to $48.65
- Net interest income rose 9.6% for the full year
- Pre-tax, pre-provision income increased 11.1% to $15.4 million in 2024
- Q4 2024 earnings decreased by $72,000 to $2.4 million
- Q4 2024 ROA declined to 0.78% from 0.83% year-over-year
- Q4 2024 ROE decreased to 9.87% from 10.63% year-over-year
The annualized return on average assets (ROA) decreased to
"The results from the strategic steps we took over this past year exceeded the return on equity & net interest margin that we expected for 2024," said Joseph R. Williams, President and CEO. "Furthermore, we continued to invest in talent and our banking teams generated a steady volume of attractive lending opportunities while maintaining our strong underwriting culture and overall credit quality."
"Our entire team has continued to focus on relationship banking, which includes bringing more of our existing Clients' deposit relationships into CNB while doing the same with new Clients," Williams added. "We have successfully utilized our model to move into new markets and we expect to continue to grow in those communities as well as within our existing footprint in the next year and beyond."
Financial Highlights
- Total assets increased year-over-year
, or$34.3 million 2.8% , to .$1.28 billion - Net loans increased
, or$78.5 million 8.2% , to at December 31, 2024 compared to$1.03 billion at December 31, 2023.$954.6 million - Total deposits increased approximately
, or$23.7 million 2.2% , to at December 31, 2024.$1.10 billion - Book value per share increased
, or$4.74 10.8% , to at December 31, 2024, up from$48.65 at December 31, 2023.$43.91 - The Company completed a tender offer to repurchase 145,000 shares in the third quarter of 2024 paying its shareholders
per share. Total shares outstanding are 2,078,157 as of December 31, 2024.$38.50 - Net income decreased
,$72,000 2.9% , to for the three-month period ended December 31, 2024 but basic EPS increased$2.4 million , or$0.03 2.6% , to from$1.20 in the fourth quarter of 2023.$1.17 - Net interest income for the fourth quarter of 2024 increased
to$1.1 million while for the twelve months ended December 31, 2024 net interest income increased$11.4 million or$3.9 million 9.6% . - Pre-tax, pre-provision income increased approximately
to$219,000 in the fourth quarter of 2024, compared to$3.4 million in the fourth quarter of 2023. For 2024, pre-tax, pre-provision income was$3.2 million , compared to$15.4 million for 2023, and increase of$13.8 million 11.1% .
About CNB Community Bancorp Inc.
CNB Community Bancorp, Inc. (OTCQX:CNBB) is a one-bank holding company formed in 2005. Its subsidiary bank, County National Bank, is a nationally chartered full-service bank, which has served its local communities since its founding in 1934. CNB Community Bancorp, Inc. is headquartered in
Safe Harbor Statement
This news release and other releases and reports issued by the Company may contain "forward-looking statements." The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company is including this statement for purposes of taking advantage of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
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SOURCE CNB Community Bancorp, Inc.
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