CNB Community Bancorp, Inc. Reports Third Quarter 2025 Results

By: CNB Community Bancorp, Inc. via Business Wire

October 10, 2025 at 07:00 AM EDT

CNB Community Bancorp, Inc. (OTCQX: CNBB), the parent company of County National Bank (the “Bank”), today announced earnings for the three and nine months ended September 30, 2025. Earnings during the third quarter of 2025 totaled $3.2 million, a decrease of $287,000 or 8.3% compared to the $3.5 million earned during the three months ended September 30, 2024. The decrease in net income was predominately the result of an increase in noninterest expense associated with compensation and benefits as well as occupancy and equipment; partially offset by an increase in net interest income as well as noninterest income driven by increases in Wealth Management and in Gain on sale of loans. Basic earnings per share for CNB Community Bancorp, Inc. (the “Company”) decreased to $1.55 during the three months ended September 30, 2025, down $0.04 from $1.59 for the third quarter of 2024. For the nine months ended September 30, 2025, the Company reported net income of $8.8 million, which was down from the $9.1 million earned during the nine months ended September 30, 2024, predominately resultant from the same factors as those that impacted the third quarter variance in earnings. Basic earnings per share increased to $4.32 during the nine months ended September 30, 2025, up $0.12 from $4.20 for the first nine months of 2024.

The annualized return on average assets (“ROA”) decreased to 0.96% for the three months ended September 30, 2025, down 14 basis point from 1.10% for the three months ended September 30, 2024. The annualized return on average equity (“ROE”) decreased to 11.89% for the current quarter, down from 12.99% for the third quarter of 2024. ROA declined to 0.91% for the nine months ended September 30, 2025, down seven basis points from the 0.98% during the first nine months of 2024. ROE was 11.49% during the first nine months of 2025, down from 11.82% during the nine-month period ended September 30, 2024. Book value per share increased to $52.66 at September 30, 2025, up $4.50 from $48.16 at September 30, 2024.

Joseph R. Williams, President and Chief Executive Officer of CNB Community Bancorp, Inc. and County National Bank, commented, “We just completed another tender offer for our shares as we continue to see value in buying CNB at the current market valuation. We purchased just over 56,000 shares at $44.09 while our tangible book value as of the end of the 3^rd quarter of this year was $51.36 per share. Furthermore, we were able to add some debt at the holding company that allowed us to downstream capital to our Bank for the purpose of leveraging more of our balance sheet with the purchase of some prudent investments, which we expect will contribute to CNB’s earnings in 2025 and beyond.”

“The actions we have taken are due, in part, to our continued success in growing our brand in all of our new and existing communities. Also, the Board of Directors, Advisory Boards, and Associates continue to support CNB through their guidance, work, and presence in all of our communities. I believe in these efforts and look forward to ending this year strongly while preparing for the exciting challenges of 2026.”

Financial Highlights

Total assets increased $59.9 million from September 30, 2024, or 4.8%, to $1.32 billion, and by $36.1 million, or 2.8% from December 31, 2024.
Net loans increased $31.8 million, or 3.1%, to $1.07 billion at September 30, 2025, compared to $1.04 billion at September 30, 2024, and increased $35.7 million, or 3.5%, from December 31, 2024.
Total deposits increased $73.2 million, or 7.0%, to $1.12 billion at September 30, 2025, from $1.05 billion at September 30, 2024, and increased $21.3 million, or 1.9%, from December 31, 2024.
Book value per share increased $4.50, or 9.3%, to $52.66 at September 30, 2025, up from $48.16 at September 30, 2024 and up $4.01 from $48.65 at December 31, 2024.
Total equity increased $7.0 million to $104.9 million from September 30, 2024.
Net income decreased $287,000, or 8.3%, to $3.2 million in the third quarter of 2025, and basic EPS decreased $0.04, or 2.6%, to $1.55 from $1.59 in the third quarter of 2024.
Net interest income for the third quarter of 2025 increased $665,000 to $12.4 million from the third quarter of 2024.
Pre-tax, pre-provision net income decreased to $4.2 million in the third quarter of 2025 from $4.6 in the third quarter of 2024 or 9.4%.

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 Hillsdale, Michigan and through its subsidiary bank offers banking products along with investment management and trust services to communities located throughout southern 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.