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CNB Ranks #43 on American Banker’s Top 200 Publicly Traded Banks List for 2023

/ Categories: Bank News

CNB Community Bancorp, Inc. (the “Company”) (OTC: CNBB), the parent company of County National Bank (“CNB”), today announced that CNB has once again been named to American Banker Magazine’s Top 200 Publicly Traded Banks Under $2B of Assets at 43 on the list.

“We believe in our community strategy and being named to American Banker’s top 200 list is certainly evidence of the financial benefit of that strategy,” said Joseph R. Williams, President & CEO. “Our strong relationships with our communities and our clients are paramount, and being nationally ranked and recognized as a high-performing bank is further testament to our outstanding results, driven by a strong team that is proud to be part of our community bank.”

As of December 30, 2022, County National Bank reported the following:

  • Total assets increased year-over-year $16.4 million, or 1.4%, to $1.17 billion.
  • Net loans increased $88.6 million, or 11.2%, to $880.1 million at December 31, 2022 compared to $791.5 million at December 31, 2021.
  • Total deposits increased approximately $18.3 million, or 1.8%, to $1.06 billion at December 31, 2022.
  • Book value per share increased $3.14, or 8.3%, to $40.77 at December 31, 2022, up from $37.63 at December 31, 2021.
  • Total equity increased $7.3 million to $88.1 million.
  • Net income increased $901,000, 40.6%, to $3.1 million for the three-month period ended December 31, 2022 and basic EPS increased $0.41, or 39.7%, to $1.45 from $1.04 in the fourth quarter of 2021.
  • Net interest income for the fourth quarter of 2022 increased $1.1 million to $10.5 million while for the twelve months ended December 31, 2022 net interest income increased $4.0 million or 11.2%.
  • Pre-tax, pre-provision income increased approximately $1.2 million to $4.1 million in the fourth quarter of 2022, compared to $2.9 million in the fourth quarter of 2021. For 2022, pre-tax, pre-provision income was $16.4 million, compared to $15.6 million for 2021, an increase of 4.8%.

 

About CNB Community Bancorp Inc.
CNB Community Bancorp, Inc. (OTC: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 Hillsdale, Michigan, and through its subsidiary bank offers banking products along with investment and wealth management services to communities located throughout South Central Michigan.

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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