CNB Community Bancorp Q3 net income falls on higher credit loss provision
CNBB•CNB Community Bancorp’s third-quarter net income fell 15.5% year over year to $2.7 million, while basic EPS declined 12.8% to $1.35. The company cited a higher credit loss provision, mainly tied to two large commercial real estate loans added to nonperforming credits.
1. Quarterly results
CNB Community Bancorp reported third-quarter net income of $2.7 million, down 15.5% year over year, and basic EPS of $1.35, down 12.8%. The higher provision for credit losses was mainly due to two large commercial real estate loans added to nonperforming credits.
2. Income and outlook
Net interest income rose 6.5% year over year to $13.20 million, driven by higher rates and volume in commercial real estate credits. Non-interest income increased, led by higher Wealth Management fees. The company expects competition and the rate environment to affect deposit levels and composition, while its margin enters the final quarter with a strong tailwind from asset repricing.
3. Share repurchases
CNB repurchased 29,282 shares as part of its ongoing buyback in 2026 and said it will continue to monitor its balance sheet amid evolving macroeconomic conditions.
