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Jun 30, 2021
CNB Financial Q2 2021 Earnings Report
Reported earnings per share of $0.76, reflecting a 40.7% increase from Q2 2020, driven by a wider net interest margin and stable credit quality.
Key Takeaways
CNB Financial Corporation announced strong second-quarter earnings with a notable increase in earnings per share, driven by focus on risk-based loan pricing and expansion into new markets like Roanoke, Virginia. The corporation's loan portfolio and deposits experienced significant organic growth, and wealth and asset management business also saw considerable gains.
Expanded footprint by entering the Roanoke, Virginia market through Ridge View Bank.
Sold $85 million aggregate principal amount of its 3.25% fixed-to-floating rate subordinated notes due 2031.
Earnings per diluted share increased 40.7% from the second quarter of 2020.
Total deposits increased 7.7% from December 31, 2020, primarily due to organic growth and government stimulus.
CNB Financial
CNB Financial
Forward Guidance
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to CNB’s financial condition, liquidity, results of operations, future performance and business.