CNB COMMUNITY BANCORP, INC. REPORTS SECOND QUARTER 2023 RESULTS

HILLSDALE, Mich., July 14, 2023 /PRNewswire/ — CNB Community Bancorp, Inc. (OTCQX: CNBB), the parent company of County National Bank, today announced earnings for the three and six months ended June 30, 2023. Earnings during the second quarter of 2023 totaled $2.5 million, a decrease of $385,000 or 13.3% compared to the $2.9 million earned during the three months ended June 30, 2022 predominately as a result of an increase in noninterest expense associated with employee and fixed asset costs. Basic earnings per share for CNB Community Bancorp, Inc. (the “Company”) decreased to $1.18 during the three months ended June 30, 2023, down $0.18 from $1.36 for the second quarter of 2022. For the six months ended June 30, 2023, the Company reported net income of $5.4 million, an increase of $302,000, or 5.9%, from the $5.1 million earned during the six months ended June 30, 2022 primarily as a result of the increase in net interest margin. Basic earnings per share increased to $2.52 during the six months ended June 30, 2023, up $0.13 from $2.39 for the first six months of 2022.

Read more at prnewswire.com