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Dec 31, 2019
CNB Financial Q4 2019 Earnings Report
CNB Financial reported an increase in earnings per share due to strong growth in loans and deposits.
Key Takeaways
CNB Financial Corporation reported a strong fourth quarter with a 17% increase in earnings per share, driven by organic growth in loans and deposits. Net income for the quarter was $10.5 million, or $0.69 per diluted share, compared to $8.9 million, or $0.59 per diluted share, for the same period in 2018.
Net income increased by 17.2% to $10.5 million in Q4 2019.
Earnings per diluted share rose by 16.9% to $0.69 in Q4 2019.
Loans grew by 13.3% to $2.8 billion as of December 31, 2019.
Deposits increased by 18.8% to $3.1 billion as of December 31, 2019.
Forward Guidance
CNB launched an "at the market" offering pursuant to which CNB may issue and sell up to $40.0 million in common equity. This initiative is currently underway and CNB intends to use any proceeds of the offering to support its long-term growth strategies.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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