CNB COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2023 RESULTS
- Total assets increased by 8.0% to $1.20 billion compared to September 30, 2022.
- Net loans increased by 6.9% to $922.2 million compared to September 30, 2022.
- Total deposits increased by 7.9% to $1.10 billion compared to September 30, 2022.
- Book value per share increased by 9.4% to $43.45 compared to September 30, 2022.
- Net income decreased by 33.3% to $2.6 million compared to the same period last year.
- Basic earnings per share decreased by 33.2% to $1.23 compared to the third quarter of 2022.
- Pre-tax, pre-provision income decreased by $1.9 million to $3.3 million compared to the third quarter of 2022.
The annualized return on average assets (ROA) decreased to
Joseph R. Williams, President and Chief Executive Officer of CNB Community Bancorp, Inc. and County National Bank, remarked, "During the quarter our team expanded to
Financial Highlights
- Total assets increased
, or$88.9 million 8.0% , to from September 30, 2022 and$1.20 billion , or$39.4 million 3.4% from December 31, 2022. - Net loans increased
, or$59.3 million 6.9% , to at September 30, 2023 compared to$922.2 million at September 30, 2022 and$862.9 million , or$42.1 million 4.8% , from December 31, 2022. - Total deposits increased
, or$80.6 million 7.9% , to at September 30, 2023 from$1.10 billion at September 30, 2022 and$1.02 billion , or$33.8 million 3.2% from December 31, 2022. - Book value per share increased
, or$3.72 9.4% , to at September 30, 2023, up from$43.45 at September 30, 2022 and$39.73 from$2.68 at December 31, 2022.$40.77 - Total equity increased
to$8.6 million from September 30, 2022.$93.9 million - Net income decreased
, or$1.3 million 33.3% , to for the three-month period ended September 30, 2023 and basic EPS decreased$2.6 million , or$0.61 33.2% , to from$1.23 in the third quarter of 2022.$1.84 - Net interest income in the third quarter of 2023 decreased
to$521,000 compared to the third quarter of 2022.$10.2 million - Pre-tax, pre-provision income decreased
to$1.9 million in the third quarter of 2023, compared to$3.3 million in the third quarter of 2022.$5.2 million
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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