CNB COMMUNITY BANCORP, INC. REPORTS FIRST QUARTER 2025 RESULTS

CNB COMMUNITY BANCORP, INC. REPORTS FIRST QUARTER 2025 RESULTS

Benzinga
April 11, 2025

HILLSDALE, Mich., April 11, 2025 /PRNewswire/ -- CNB Community Bancorp, Inc. (OTCQX:CNBB), the parent company of County National Bank (the "Bank"), today announced earnings for the three months ended March 31, 2025. Earnings during the first quarter of 2025 totaled $2.7 million, which is consistent with the $2.7 million earned during the three months ended March 31, 2024. Basic earnings per share for CNB Community Bancorp, Inc. (the "Company") increased to $1.30 during the three months ended March 31, 2025, up $0.04 from $1.26 during the first quarter of 2024.

The annualized return on average assets ("ROA") decreased to 0.83% for the three months ended March 31, 2025, down 5 basis points or 5.7% from to 0.88% for the three months ended March 31, 2024. The annualized return on average equity ("ROE") decreased to 10.63% for the current quarter, down from 11.43% for the first quarter of 2024. Book value per share increased to $49.90 at March 31, 2025, up $4.85, or 10.8%, from $45.05 at March 31, 2024.

Joseph R. Williams, President and Chief Executive Officer of CNB Community Bancorp, Inc. and County National Bank, stated, "The results for the first three months of 2025 have been very solid which are exemplified in our increased earnings per share. Our focus on maintaining CNB's consistent management of the balance sheet was evident in the resulting increase in our net interest income during the first quarter of 2025.

CNB continues to produce new loans that come into our portfolio at higher rates than those being ...

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