|Over a week ago|
CNB Financial reports Q1 EPS 78c, two estimates 74c » 16:3804/1904/19/21
Reports Q1 revenue…
Reports Q1 revenue $47.4M, two estimates $39.2M. Reports Q1 tangible book value per common share $18.69. Reports Q1 CET1 capital ratio 9.79%. Joseph Bower, president and CEO, stated, "We are pleased to report a strong earnings quarter to you. The initiatives we implemented in 2020, due to our level of excess liquidity, are working out as planned. During the first quarter, we continued to support our local businesses by participating in the second round of the Paycheck Protection Program. As we look forward, we have a positive outlook for the remainder of the year, as business growth opportunities improve, especially in our newest region in Northeast Ohio, where we just broke ground on a new branch location in the Cleveland area. Plans are already underway to establish another location in the region late this year or early next year."
|Over a quarter ago|
CNB Financial reports Q4 EPS 40c, consensus 55c » 16:1901/2601/26/21
Reports Q4 revenue $48.1M…
Reports Q4 revenue $48.1M , consensus $36.2M. Excluding the after-tax FHLB prepayment penalty, net income was $13.8 million, or 75c per diluted common share, for the three months ended December 31, 2020, compared to $10.6 million, or $0.70 per diluted share, for the same period in 2019, reflecting increases of $3.2 million, or 29.5%, and $0.05 per diluted common share, or 7.1%..
CNB Financial reports Q3 EPS 47c, consensus 37c » 16:1610/2010/20/20
Reports Q3 revenue…
Reports Q3 revenue $41.4M, consensus $33.15M.
CNB Financial resumed with an Outperform at Boenning & Scattergood » 07:3210/0210/02/20
Boenning & Scattergood analyst Joseph Plevelich resumed coverage of CNB Financial with an Outperform rating and $25 price target. He believes the stock's discounted valuation is "largely unwarranted" given the bank's strong track record of profitable growth, conservative credit culture, and attractive deposit base, although he would potentially look to downgrade if credit worsens materially from his forecast, the analyst said.
CNB Financial reports Q2 EPS 54c, consensus 32c » 16:1507/2107/21/20
At June 30 the…
At June 30 the Corporation's cash position totaled approximately $663 million, including $222 million related to the Paycheck Protection Program Lending Facility ("PPPLF") and additional excess liquidity of $391 million held at the Federal Reserve, reflecting a strong liquidity level. In addition to its cash position, the Corporation's borrowing capacity with the Federal Home Loan Bank of Pittsburgh at June 30, 2020 was approximately $525 million. While book value per share was $21.45 and $18.86 as of June 30, 2020 and 2019, respectively, tangible book value per share was $18.94 as of June 30, 2020, reflecting an increase of 16.3% from a tangible book value per share of $16.28 as of June 30, 2019.
CNB Financial completes acquisition of Bank of Akron » 08:1107/2007/20/20
CNB Financial announced…
CNB Financial announced that it has completed its acquisition of Bank of Akron. Under the terms of the merger agreement, Bank of Akron has merged with and into CNB Bank, with CNB Bank as the surviving institution. Banking offices of Bank of Akron will operate under the trade name BankOnBuffalo, a division of CNB Bank. On a proforma basis and excluding the impact of purchase accounting, as of June 30, 2020, the combined company has approximately $4.9B in total assets and 45 full-service banking offices, located in central and western Pennsylvania, northeast and central Ohio, and western New York. Under the terms of the merger agreement, Bank of Akron shareholders will receive either a fixed exchange of 6.6729 shares of CNB common stock for each share of Bank of Akron common stock or $215.00 per share in cash, subject to proration procedures whereby at least 75% of the consideration to be paid will be in the form of CNB common stock.