CNB COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2024 RESULTS
CNB Community Bancorp, Inc. (OTCQX: CNBB) reported strong financial results for Q3 2024. Net income increased by 30.4% to $3.5 million, with basic EPS rising to $1.59. For the nine months ended September 30, 2024, net income grew 12.9% to $9.1 million. The company saw improvements in key metrics:
- ROA increased to 1.10% for Q3 2024
- ROE rose to 12.99% for Q3 2024
- Book value per share reached $48.16, up 10.8% YoY
CNB completed a share repurchase of 145,000 shares at $38.50 per share. Total assets grew 4.3% YoY to $1.26 billion, while net loans increased 12.4% to $1.04 billion. However, total deposits decreased 4.7% to $1.05 billion. The company plans to open a new loan production office in Lansing this fall, focusing on relationship banking and strategic growth.
CNB Community Bancorp, Inc. (OTCQX: CNBB) ha riportato risultati finanziari solidi per il terzo trimestre del 2024. Il reddito netto è aumentato del 30,4% a 3,5 milioni di dollari, con l'EPS base che è salito a 1,59 dollari. Nei nove mesi terminati il 30 settembre 2024, il reddito netto è cresciuto del 12,9% a 9,1 milioni di dollari. L'azienda ha visto miglioramenti in metriche chiave:
- ROA aumentato all'1,10% per il terzo trimestre del 2024
- ROE salito al 12,99% per il terzo trimestre del 2024
- Valore contabile per azione raggiunto a 48,16 dollari, in aumento del 10,8% rispetto all'anno precedente
CNB ha completato un riacquisto di 145.000 azioni a 38,50 dollari per azione. Gli attivi totali sono aumentati del 4,3% rispetto all'anno precedente a 1,26 miliardi di dollari, mentre i prestiti netti sono aumentati del 12,4% a 1,04 miliardi di dollari. Tuttavia, i depositi totali sono diminuiti del 4,7% a 1,05 miliardi di dollari. L'azienda prevede di aprire un nuovo ufficio di produzione prestiti a Lansing questo autunno, concentrandosi sulla banca relazionale e sulla crescita strategica.
CNB Community Bancorp, Inc. (OTCQX: CNBB) reportó sólidos resultados financieros para el tercer trimestre de 2024. El ingreso neto aumentó un 30,4% a 3,5 millones de dólares, con el EPS básico subiendo a 1,59 dólares. En los nueve meses que terminaron el 30 de septiembre de 2024, el ingreso neto creció un 12,9% a 9,1 millones de dólares. La compañía vio mejoras en métricas clave:
- ROA aumentó al 1,10% para el tercer trimestre de 2024
- ROE subió al 12,99% para el tercer trimestre de 2024
- Valor contable por acción alcanzó los 48,16 dólares, un aumento del 10,8% interanual
CNB completó una recompra de 145,000 acciones a 38,50 dólares por acción. Los activos totales crecieron un 4,3% interanual a 1,26 mil millones de dólares, mientras que los préstamos netos aumentaron un 12,4% a 1,04 mil millones de dólares. Sin embargo, los depósitos totales disminuyeron un 4,7% a 1,05 mil millones de dólares. La empresa planea abrir una nueva oficina de producción de préstamos en Lansing este otoño, enfocándose en la banca de relaciones y el crecimiento estratégico.
CNB 커뮤니티 뱅코프, Inc. (OTCQX: CNBB)는 2024년 3분기 강력한 재무 실적을 보고했습니다. 순이익은 30.4% 증가한 350만 달러로, 기본 EPS는 1.59 달러로 상승했습니다. 2024년 9월 30일 종료된 9개월 동안 순이익은 12.9% 증가하여 910만 달러에 달했습니다. 회사는 주요 지표에서 개선을 보았습니다:
- ROA는 2024년 3분기 1.10%로 증가했습니다.
- ROE는 2024년 3분기 12.99%로 상승했습니다.
- 주당 장부가치는 48.16 달러로, 전년 대비 10.8% 증가했습니다.
CNB는 주당 38.50 달러에 145,000주의 자사주 매입을 완료했습니다. 총 자산은 전년 대비 4.3% 증가한 12.6억 달러에 도달했으며, 순대출은 12.4% 증가하여 10.4억 달러에 이르렀습니다. 그러나 총 예금은 4.7% 감소하여 10.5억 달러로 줄어들었습니다. 회사는 이번 가을 랜싱에 새로운 대출 생산 사무소를 개설할 계획이며, 관계 중심 은행 및 전략적 성장을 강조할 것입니다.
CNB Community Bancorp, Inc. (OTCQX: CNBB) a rapporté de solides résultats financiers pour le troisième trimestre de 2024. Le revenu net a augmenté de 30,4 % pour atteindre 3,5 millions de dollars, avec le BPA de base passant à 1,59 dollar. Pour les neuf mois se terminant le 30 septembre 2024, le revenu net a progressé de 12,9 % pour atteindre 9,1 millions de dollars. L'entreprise a constaté des améliorations dans des indicateurs clés :
- ROA a augmenté à 1,10 % pour le T3 2024
- ROE a grimpé à 12,99 % pour le T3 2024
- Valeur comptable par action a atteint 48,16 dollars, en hausse de 10,8 % par rapport à l'année précédente
CNB a effectué un rachat de 145 000 actions au prix de 38,50 dollars par action. Les actifs totaux ont augmenté de 4,3 % par rapport à l'année précédente, atteignant 1,26 milliard de dollars, tandis que les prêts nets ont crû de 12,4 % pour atteindre 1,04 milliard de dollars. Cependant, les dépôts totaux ont diminué de 4,7 % pour s'établir à 1,05 milliard de dollars. L'entreprise prévoit d'ouvrir un nouveau bureau de production de prêts à Lansing cet automne, axé sur la banque relationnelle et la croissance stratégique.
CNB Community Bancorp, Inc. (OTCQX: CNBB) hat im dritten Quartal 2024 starke Finanzergebnisse gemeldet. Der Nettogewinn stieg um 30,4 % auf 3,5 Millionen US-Dollar, während das Basis-EPS auf 1,59 US-Dollar anstieg. Für die neun Monate bis zum 30. September 2024 wuchs der Nettogewinn um 12,9 % auf 9,1 Millionen US-Dollar. Das Unternehmen verzeichnete Verbesserungen bei wichtigen Kennzahlen:
- ROA erhöhte sich auf 1,10 % für Q3 2024
- ROE stieg auf 12,99 % für Q3 2024
- Buchwert pro Aktie erreichte 48,16 US-Dollar, was einem Anstieg von 10,8 % im Jahresvergleich entspricht.
CNB schloss einen Rückkauf von 145.000 Aktien zu einem Preis von 38,50 US-Dollar pro Aktie ab. Die Gesamterträge stiegen im Jahresvergleich um 4,3 % auf 1,26 Milliarden US-Dollar, während die Nettokredite um 12,4 % auf 1,04 Milliarden US-Dollar zunahmen. Allerdings sanken die Gesamteinlagen um 4,7 % auf 1,05 Milliarden US-Dollar. Das Unternehmen plant, in diesem Herbst ein neues Kreditproduktionsbüro in Lansing zu eröffnen, das sich auf Beziehungsbanken und strategisches Wachstum konzentrieren wird.
- Net income increased 30.4% to $3.5 million in Q3 2024
- Basic EPS rose to $1.59, up $0.36 from Q3 2023
- ROA improved to 1.10% for Q3 2024, up from 0.88% in Q3 2023
- ROE increased to 12.99% for Q3 2024, up from 10.68% in Q3 2023
- Book value per share grew 10.8% to $48.16
- Total assets increased 4.3% YoY to $1.26 billion
- Net loans grew 12.4% YoY to $1.04 billion
- Net interest income in Q3 2024 increased by $1.5 million compared to Q3 2023
- Pre-tax, pre-provision income rose by $1.3 million to $4.6 million in Q3 2024
- Total deposits decreased 4.7% YoY to $1.05 billion
The annualized return on average assets ("ROA") increased to
Joseph R. Williams, President and Chief Executive Officer of CNB Community Bancorp, Inc. and County National Bank, stated, "During the quarter, we were able to initiate and complete a repurchase of 145,000 of our outstanding shares at
"Our team has worked diligently in 2024 to continue to grow CNB while never losing site of maintaining appropriate funding costs and controlling our noninterest expense. We look forward to opening another loan production office in
Financial Highlights
- Total assets increased
$51.9 million 4.3% , to$1.26 billion $10.6 million 0.9% from December 31, 2023. - Net loans increased
$114.6 million 12.4% , to$1.04 billion $922.2 million $82.3 million 8.6% , from December 31, 2023. - Total deposits decreased
$51.9 million 4.7% , to$1.05 billion $1.10 billion $28.1 million 2.6% , from$1.07 billion - Book value per share increased
$4.71 10.8% , to$48.16 $43.45 $4.25 $43.91 - The Company completed a tender offer to repurchase 145,000 shares in the third quarter of 2024 paying its shareholders
$38.50 - Net income increased
$804,000 30.4% , to$3.5 million $0.36 29.6% , to$1.59 $1.23 - Net interest income in the third quarter of 2024 increased
$1.5 million $11.7 million - Pre-tax, pre-provision income increased
$1.3 million $4.6 million $3.3 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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