Company Profile
CNB At A Glance
- Headquarters
- Hillsdale, MI
- Established
- 1934
- Ticker (OTCQX)
- CNBB
- Assets
- $1,188.8 billion
- Loans, net
- $804.3 million
- Deposits
- $1,085.0 billion
- Consolidated Equity / BV per Share
- $81.3 million / $37.84
- YTD Return on Average Assets ^
- 0.77%
- YTD Return on Average Equity
- 11.10%
- Cost of Funds *
- 0.22%
- Net Interest Margin (FTE)*
- 3.24%
- Efficiency Ratio (FTE)*
- 73.31%
- Loans / Deposits
- 75.17%
- NPAs (excl. TDRs)/Assets *
- 0.13%
- Shares Outstanding
- 2,180,191
CNB Geographic Footprint
Note: Financial data as of March 31, 2022 except where otherwise noted.
* Denotes bank level information as of the first quarte of 2022.
^ Denominator has average Payroll Protection Program loans removed.
State of Michigan (Market Share)
State of Michigan
Rank |
Institution |
Number of Branches |
Total Deposits ($000) |
Total Market Share (%) |
1 |
Flagstar Bancorp Inc. (MI) |
114 |
17,578,901 |
5.63 |
2 |
Independent Bank Corp. (MI) |
67 |
3,928,765 |
1.26 |
3 |
Mercantile Bank Corp. (MI) |
40 |
3,676,294 |
1.18 |
4 |
Macatawa Bank Corp. (MI) |
29 |
2,607,679 |
0.84 |
5 |
Arbor Bancorp Inc. (MI) |
8 |
2,176,399 |
0.67 |
6 |
Northpointe Bancshares Inc. (MI) |
1 |
2,106,345 |
0.67 |
7 |
Level One Bancorp Inc. (MI) |
17 |
2,058,272 |
0.66 |
8 |
First National Bancshares Inc. (MI) |
3 |
2,008,978 |
0.64 |
9 |
ChoiceOne Financial Services (MI) |
31 |
1,882,256 |
0.60 |
10 |
Isabella Bank Corporation (MI) |
30 |
1,664,945 |
0.53 |
11 |
Fentura Financial Inc. (MI) |
17 |
1,126,844 |
0.36 |
12 |
Southern Michigan Bancorp Inc. (MI) |
16 |
953,489 |
0.31 |
13 |
CNB Community Bancorp Inc. (MI) |
14 |
946,989 |
0.30 |
14 |
Keweenaw Financial Corporation (MI) |
10 |
897,309 |
0.29 |
15 |
First State Financial Corp. (MI) |
12 |
895,606 |
0.29 |
16 |
Northstar Financial Group Inc. (MI) |
10 |
780,672 |
0.25 |
17 |
United Bank Finacial Corp. (MI) |
12 |
678,994 |
0.22 |
|
Total For Institutions In Market |
2,243 |
312,144,909 |
|
Primary Markets (Market Share)
Primary Markets
Rank |
Institution |
Number of Branches |
Total Deposits ($000) |
Total Market Share (%) |
|
Hilsdale, MI |
|
|
|
1 |
CNB Community Bancorp Inc. (MI) |
5 |
389,506 |
55.32 |
2 |
Southern Michigan Bancorp Inc. (MI) |
1 |
125,533 |
17.83 |
3 |
Fifth Third Bancorp (OH) |
1 |
79,997 |
11.36 |
4 |
Flagstar Bancorp Inc. (MI) |
1 |
65,453 |
9.30 |
5 |
Century Financial Corp. (MI) |
1 |
27,584 |
3.92 |
6 |
Huntington Bancshares Inc. (OH) |
1 |
16,037 |
2.28 |
|
Total For Institutions In Market |
10 |
704,110 |
|
|
|
|
|
|
|
Jackson, MI |
|
|
|
1 |
Flagstar Bancorp Inc. (MI) |
8 |
1,152,314 |
41.04 |
2 |
Comerica Inc. (TX) |
7 |
514,687 |
18.33 |
3 |
CNB Community Bancorp Inc. (MI) |
5 |
405,826 |
14.45 |
4 |
Huntington Bancshares Inc. (OH) |
6 |
351,089 |
12.50 |
5 |
Fifth Third Bancorp (OH) |
1 |
101,186 |
3.60 |
6 |
Farmers State Bank of Munith (MI) |
2 |
58,983 |
2.10 |
7 |
Old National Bancorp (IN) |
1 |
51,102 |
1.82 |
8 |
Bank Michigan (MI) |
1 |
51,099 |
1.82 |
9 |
Independent Bank Corp. (MI) |
1 |
45,067 |
1.60 |
10 |
PNC Financial Services Group (PA) |
1 |
42,127 |
1.50 |
|
Total For Institutions In Market |
31 |
2,773,480 |
|
Investment Considerations
- 13th largest bank headquartered in Michigan, ranked by deposits, with focus on local communities it serves
- #1 in deposit market share (over 55%) in Hillsdale County and #3 market share in Jackson County
- Experienced management team and board of directors, with vast knowledge of local markets
- The Company is focused on building shareholder value and returning a share of profits to the shareholders
- Low cost of funds 0.22% as of March 31, 2022
- Focus on long-term success of its shareholders, customers, employees, and community
- Strong credit quality is heavily tied to the Bank's conservative underwriting processes
*The market share data displayed is for CNB Community Bancorp, Inc.
*Deposit information taken from S&P Global Market Intelligence as of June 30, 2021. Michigan total includes all deposits in state of
Michigan, including out of state banks.
Net Interest Margin & Efficiency Ratio
Earnings & Dividends Per Share
* Note: Net interest margin and efficiency ratio are at the bank level.
Book Value and Dividends Per Share
Loan Composition
Deposit Composition
*Note: Information shown is at the bank level
Loan Loss Provisions & Net Charge Offs
Tangible Common Equity/Tangible Assets
*Note: Information shown at bank level
Consolidated Balance Sheet
Consolidated Income Statement
Consolidated Income Statement Highlights
-
CNB has a consistent stream of interest and non-interest income that allows for predictable profitability and a consistent dividend stream
to its shareholders
- CNB has averaged a 35.2% dividend payout ratio since 2012
-
The Company has achieved double digit returns on equity each of the last 8 years, effectively managing its growth prospects and shareholder
returns