Company Profile
CNB At A Glance
- Headquarters
- Hillsdale, MI
- Established
- 1934
- Ticker (OTCQX)
- CNBB
- Assets
- $1.246.0 million
- Loans, net
- $955.0 million
- Deposits
- $1,073.4 million
- Consolidated Equity / BV per Share
- $95.6 million/$43.91
- YTD Return on Average Assets
- 0.83%
- YTD Return on Average Equity
- 10.63%
- Cost of Funds *
- 1.52%
- Net Interest Margin (FTE)*
- 3.59%
- Efficiency Ratio (FTE)*
- 70.99%
- Loans / Deposits
- 89.99%
- NPAs (excl. TDRs)/Assets *
- 0.39%
- Shares Outstanding
- 2,204,695
CNB Geographic Footprint
Note: Financial data as of September 30, 2023 except where otherwise noted.
* Denotes bank level information as of the second quarter of 2023.
State of Michigan (Market Share)
State of Michigan
| Rank |
Institution |
Number of Branches |
Total Deposits ($000) |
Total Market Share (%) |
| 1 |
Independent Bank Corp. (MI) |
63 |
4,358,989 |
1.39% |
| 2 |
Mercantile Bank Corp. (MI) |
40 |
3,891,629 |
1.24% |
| 3 |
Arbor Bancorp Inc. (MI) |
18 |
2,808,271 |
0.89% |
| 4 |
Macatawa Bank Corp. (MI) |
29 |
2,502,262 |
0.80% |
| 5 |
Northpointe Bancshares Inc. (MI) |
1 |
2,423,719 |
0.77% |
| 6 |
First National Bancshares Inc. (MI) |
3 |
2,395,655 |
0.76% |
| 7 |
ChoiceOne Financial Services (MI) |
31 |
2,150,827 |
0.69% |
| 8 |
Isabella Bank Corporation (MI) |
30 |
1,770,012 |
0.56% |
| 9 |
Fentura Financial Inc. (MI) |
20 |
1,231,724 |
0.39% |
| 10 |
Southern Michigan Bancorp Inc. (MI) |
17 |
1,039,413 |
0.33% |
| 11 |
CNB Community Bancorp Inc. (MI) |
14 |
1,017,170 |
0.32% |
| 12 |
First State Financial Corp. (MI) |
11 |
905,093 |
0.29% |
| 13 |
Keweenaw Financial Corporation (MI) |
10 |
898,295 |
0.29% |
| 14 |
Northstar Financial Group Inc. (MI) |
10 |
817,719 |
0.26% |
| 15 |
First National Bancorp Inc. (MI) |
6 |
817,234 |
0.26% |
| 16 |
Oxford Bank Corporation (MI) |
8 |
732,676 |
0.23% |
| |
Total For Institutions In Market |
2,053 |
313,908,891 |
|
Primary Markets (Market Share)
Primary Markets
| Rank |
Institution |
Number of Branches |
Total Deposits ($000) |
Total Market Share (%) |
| |
Hillsdale, MI |
|
|
|
| 1 |
CNB Community Bancorp Inc. (MI) |
5 |
447,279 |
56.45% |
| 2 |
Southern Michigan Bancorp Inc. (MI) |
1 |
166,866 |
21.06% |
| 3 |
Fifth Third Bancorp (OH) |
1 |
85,053 |
10.74% |
| 4 |
New York Community Bancorp (NY) |
1 |
64,532 |
8.15% |
| 5 |
Century Financial Corp. (MI) |
1 |
28,557 |
3.60% |
| |
Total For Institutions In Market |
9 |
792,287 |
|
| |
|
|
|
|
| |
Jackson, MI |
|
|
|
| 1 |
New York Community Bancorp (NY) |
8 |
973,636 |
37.45% |
| 2 |
Comerica Inc. (TX) |
7 |
479,061 |
18.43% |
| 3 |
CNB Community Bancorp Inc. (MI) |
5 |
424,954 |
16.34% |
| 4 |
Huntington Bancshares Inc. (OH) |
4 |
380,019 |
14.62% |
| 5 |
Fifth Third Bancorp (OH) |
1 |
89,593 |
3.45% |
| 6 |
Independent Bank Corp. (MI) |
2 |
52,716 |
2.03% |
| 7 |
Old National Bancorp (IN) |
1 |
49,817 |
1.92% |
| 8 |
Fentura Financial Inc. (MI) |
2 |
49,073 |
1.89% |
| 9 |
PNC Financial Services Group (PA) |
1 |
47,292 |
1.82% |
| 10 |
Bank Michigan Financial Corp. (MI) |
1 |
42,937 |
1.65% |
| 11 |
Homestead SB (MI) |
1 |
10,836 |
0.42% |
| |
Total For Institutions In Market |
32 |
2,599,934 |
|
| |
|
|
|
|
| |
Lenawee, MI |
|
|
|
| 1 |
Old National Bancorp (IN) |
3 |
536,549 |
33.65% |
| 2 |
Premier Financial Corp. (OH) |
5 |
446,918 |
28.03% |
| 3 |
Huntington Bancshares Inc. (OH) |
2 |
152,332 |
9.55% |
| 4 |
CNB Community Bancorp Inc. (MI) |
3 |
141,140 |
8.85% |
| 5 |
KeyCorp (OH) |
2 |
140,886 |
8.84% |
| 6 |
Blissfield Bank Corp. (MI) |
1 |
107,573 |
6.75% |
| 7 |
Comerica Inc. (TX) |
1 |
42,740 |
2.68% |
| 8 |
Bank Michigan Financial Corp. (MI) |
1 |
26,313 |
1.65% |
| |
Total For Institutions In Market |
18 |
1,594,451 |
|
Investment Considerations
- CNB is the 11th largest bank, ranked by deposits, headquartered in the State of Michigan.
-
The Company has the top market share in its primary market of Hillsdale, and is the third largest bank in its secondary market of Jackson.
- 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
- 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, 2023. Michigan total includes all deposits in state of
Michigan, including out of state banks.
Note: Market Share is for U.S. Territories only and non-retail branches are not included.
Net Interest Margin & Efficiency Ratio
Earnings, Tangible Book Value, & Book Value 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 32.8% dividend payout ratio since 2013
-
The Company has achieved double digit returns on equity each of the last 8 years, effectively managing its growth prospects and shareholder
returns