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CNB Community Bancorp Q3 earnings up 8 percent

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Christian Fernsby ▼ | October 12, 2019
CNB Community Bancorp, the parent company of County National Bank, announced record earnings for the three and nine months ended September 30, 2019.
County National Bank
CNB Community Bancorp   Earnings during the third quarter of 2019 totaled $2.5 million
Earnings during the third quarter of 2019 for CNB Community Bancorp totaled $2.5 million, an increase of $183,000, or 8.0%, from $2.3 million earned during the three months ended September 30, 2018.

Topics: CNB Community Bancorp

Basic earnings per share increased to $1.18 during the three months ended September 30, 2019, up $0.08 from $1.10 earned during the third quarter of 2018.

For the nine months ended September 30, 2019, the Company reported net income of $7.1 million, an increase of $645,000 from the $6.5 million earned during the nine months ended September 30, 2018.

Basic earnings per share increased to $3.40 for the nine months ended September 30, 2019 up $0.29 from the $3.11 earned during the first nine months of 2018.

The annualized return on average assets (ROA) slightly decreased to 1.39% for the three months ended September 30, 2019, from 1.40% for the three months ended September 30, 2018.

The annualized return on average equity (ROE) decreased to 16.18% during the current quarter, from 16.73% during the third quarter of 2018.

ROA increased to 1.37% during the nine months ended September 30, 2019, from 1.34% during the same period in 2018.

ROE increased to 16.13% during the nine months ended September 30, 2019 up from 16.09% during the nine month period ended September 30, 2018.

Book value per share increased to $29.64 at September 30, 2019, up $3.37 from $26.27 at September 30, 2018.


 

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