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CNB Community Bancorp Q3 earnings up 8 percent

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Christian Fernsby ▼ | October 12, 2019
County National Bank
CNB Community Bancorp   Earnings during the third quarter of 2019 totaled $2.5 million

CNB Community Bancorp, the parent company of County National Bank, announced record earnings for the three and nine months ended September 30, 2019.

Topics: CNB Community Bancorp

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.

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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