Company Profile
CNB At A Glance
- Headquarters
- Hillsdale, MI
- Established
- 1934
- Ticker (OTCQX)
- CNBB
- Assets
- $1,115.8 billion
- Loans, net
- $863.7 million
- Deposits
- $1,016.5 billion
- Consolidated Equity / BV per Share
- $85.4 million/$39.73
- YTD Return on Average Assets ^
- 1.37%
- YTD Return on Average Equity
- 18.41%
- Cost of Funds *
- 0.23%
- Net Interest Margin (FTE)*
- 3.58%
- Efficiency Ratio (FTE)*
- 66.00%
- Loans / Deposits
- 86.09%
- NPAs (excl. TDRs)/Assets *
- 0.13%
- Shares Outstanding
- 2,187,404
CNB Geographic Footprint
Note: Financial data as of September 30, 2022 except where otherwise noted.
* Denotes bank level information as of the third quarter 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 |
14,990,393 |
4.78 |
2 |
Independent Bank Corp. (MI) |
63 |
4,358,989 |
1.39 |
3 |
Mercantile Bank Corp. (MI) |
40 |
3,891,629 |
1.24 |
4 |
Arbor Bancorp Inc. (MI) |
18 |
2,808,271 |
0.89 |
5 |
Macatawa Bank Corp. (MI) |
29 |
2,502,262 |
0.80 |
6 |
Northpointe Bancshares Inc. (MI) |
1 |
2,423,719 |
0.77 |
7 |
First National Bancshares Inc. (MI) |
3 |
2,395,655 |
0.76 |
8 |
ChoiceOne Financial Services (MI) |
31 |
2,150,827 |
0.69 |
9 |
Isabella Bank Corporation (MI) |
29 |
1,770,012 |
0.56 |
10 |
Fentura Financial Inc. (MI) |
20 |
1,231,724 |
0.39 |
11 |
Southern Michigan Bancorp Inc. (MI) |
17 |
1,039,413 |
0.33 |
12 |
CNB Community Bancorp Inc. (MI) |
14 |
1,017,170 |
0.32 |
13 |
First State Financial Corp. (MI) |
11 |
905,093 |
0.29 |
14 |
Keweenaw Financial Corporation (MI) |
10 |
898,295 |
0.29 |
15 |
Northstar Financial Group Inc. (MI) |
10 |
817,719 |
0.26 |
16 |
First National Bancorp Inc. (MI) |
6 |
817,234 |
0.26 |
|
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 (%) |
|
Hilsdale, MI |
|
|
|
1 |
CNB Community Bancorp Inc. (MI) |
5 |
398,825 |
55.04 |
2 |
Southern Michigan Bancorp Inc. (MI) |
1 |
142,238 |
19.63 |
3 |
Fifth Third Bancorp (OH) |
1 |
82,098 |
11.33 |
4 |
Flagstar Bancorp Inc. (MI) |
1 |
69,550 |
9.60 |
5 |
Century Financial Corp. (MI) |
1 |
31,836 |
4.39 |
|
Total For Institutions In Market |
9 |
724,547 |
|
|
|
|
|
|
|
Jackson, MI |
|
|
|
1 |
Flagstar Bancorp Inc. (MI) |
8 |
1,099,850 |
38.83 |
2 |
Comerica Inc. (TX) |
7 |
550,889 |
19.45 |
3 |
CNB Community Bancorp Inc. (MI) |
5 |
442,313 |
15.62 |
4 |
Huntington Bancshares Inc. (OH) |
4 |
347,596 |
12.27 |
5 |
Fifth Third Bancorp (OH) |
1 |
102,665 |
3.62 |
6 |
Fentura Financial Inc. (MI) |
2 |
59,464 |
2.10 |
7 |
Old National Bancorp (IN) |
1 |
55,576 |
1.96 |
8 |
Bank Michigan (MI) |
1 |
53,972 |
1.91 |
9 |
Independent Bank Corp. (MI) |
1 |
52,024 |
1.84 |
10 |
PNC Financial Services Group (PA) |
1 |
48,241 |
1.70 |
|
Total For Institutions In Market |
32 |
2,832,251 |
|
Investment Considerations
- 12th 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 0.23% as of September 30, 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, 2022. 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 & 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 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