News Article | May 12, 2017
CLEARFIELD, PA--(Marketwired - May 12, 2017) - The Board of Directors of CNB Financial Corporation ( : CCNE) has announced the declaration of 16.5 cents per share quarterly dividend payable on June 15, 2017 to shareholders of record on June 1, 2017. CNB Financial Corporation is a financial holding company with consolidated assets of approximately $2.6 billion that conducts business primarily through CNB Bank, CNB Financial Corporation's principal subsidiary. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include: 33 full-service offices in Pennsylvania and northeast Ohio, including ERIEBANK, a division of CNB Bank; nine full-service offices and one loan production office in central Ohio conducting business as FCBank, a division of CNB Bank; and one full-service office in Buffalo, New York conducting business as Bank on Buffalo, a division of CNB Bank. For further information regarding the stock of CNB Financial Corporation, please call (814) 765-9621, CNB Bank Stock Transfer Department or contact any brokerage firm. The identifying symbol for this security is CCNE. CNB Bank websites can be found at www.CNBBank.bank, www.ERIEBANK.bank, www.FCBank.bank, and www.BankOnBuffalo.bank.
News Article | May 18, 2017
"We are sincerely grateful for our strongest assets — our customers, employees, shareholders and the community we are so privileged to serve," said Mr. Guillermo Diaz-Rousselot CEO and President of Continental National Bank "Continental National Bank's unwavering commitment to service remains as strong today as it did the day we first opened, and it has proven to be the foundation of our success." Recently, Diaz-Rousselot was appointed board member of the Federal Reserve of Atlanta. On the cusp of its 43rd year anniversary, the bank is launching CNB Business Manager, an accounts receivables financing program that will assist credit-worthy businesses and professionals with management and funding of accounts receivables. "At Continental National Bank, we always strive to continuously support the growth of small businesses. The launch of CNB Business Manager clearly shows our serious commitment to cater to the needs of all of our customers and the small business community," said Rodolfo Lleonart Executive Vice President and Chief Operating Officer "The launch of CNB Business Manager is the latest step to diversify our business portfolio of products and services which include Commercial Lending, Small Business Administration loans, Merchant Services and Cash Management." CNB Business Manager program allows small businesses to get cash daily for their receivables by selling them to the bank at a discount. The program enables small businesses to pursue new business opportunities, take early payment discounts from suppliers, make payroll, offer financing to customers, and reduce or eliminate debt. Continental National Bank is a full-service community bank established in 1974 in Miami as the first Cuban-American-chartered national bank in the United States, serving its customers for over 43 years. With five branches conveniently located throughout Miami-Dade County, and with more than $490 million in assets, Continental National Bank was awarded the five-star "superior" rating by Bauer Financial and has been recognized as a top community bank. The Bank offers a full range of financial and lending products and services for retail, business and institutional clients. For more information about Continental National Bank and its products and services, visit their website at www.continentalbank.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/continental-national-bank-celebrates-43-years-of-service-to-the-south-florida-community-300460194.html
News Article | April 18, 2017
CLEARFIELD, PA--(Marketwired - April 18, 2017) - Following the annual meetings of CNB Financial Corporation ( : CCNE) and CNB Bank today, CNB Financial Corporation announced that its shareholders re-elected Class 1 directors Peter F. Smith, William F. Falger, Jeffrey S. Powell, James B. Ryan, Francis X. Straub, III, and Peter C. Varischetti, each for a three-year term expiring at the 2020 annual meeting, or their 70th birthday, whichever occurs first. The following Corporation directors retained their positions but were not standing for election this year: Joseph B. Bower, Jr., Robert W. Montler, Joel E. Peterson, Richard B. Seager, Richard L. Greslick, Jr., Dennis L. Merrey, Deborah Dick Pontzer, and Nicholas N. Scott. In addition to the election of directors, shareholders ratified the appointment of CNB Financial Corporation's independent auditors, Crowe Horwath LLP, for the year ending December 31, 2017 and approved on an advisory basis the Corporation's compensation program for its named executive officers. Shareholders also approved a proposal to amend the Corporation's bylaws to implement a majority vote standard for the election of directors in uncontested elections, while retaining a plurality vote standard in contested elections. Chairman Peter F. Smith conducted the meeting and welcomed the shareholders present. Mr. Smith then introduced Mr. Joseph B. Bower, Jr., President & Chief Executive Officer of CNB Financial Corporation and CNB Bank to address the shareholders. Mr. Bower presented a timeline of CNB Financial Corporation, including the initiatives completed in 2016 to acquire Lake National Bank in Mentor, Ohio, the formation of Bank on Buffalo, and the issuance of subordinated debt totaling $50 million. Mr. Bower then provided an overview of the Corporation's vision and its five pillars of success -- leadership in local communities, make customer experience a main focus, employee development, a consistent approach to growth, and a solid foundation of technology. Mr. Bower continued by outlining the Corporation's history of profitable growth, the infrastructure that the Corporation has built to facilitate future growth, and the Corporation's asset quality and regulatory capital trends for each of the last six years. Mr. Bower concluded his remarks by describing the Corporation's financial performance for the first quarter of 2017, which included net income of $6.5 million and earnings per share of $0.43. Lastly, Mr. Smith shared the Board's gratitude for Mr. Dennis L. Merrey's years of service as Chairman of the Board of CNB Financial Corporation and CNB Bank. Inquiries regarding Investor Relations of CNB Financial Corporation stock (CCNE) will be answered by phoning (814) 765-9621. CNB Financial Corporation is a financial holding company with consolidated assets of approximately $2.6 billion that conducts business primarily through CNB Bank, CNB Financial Corporation's principal subsidiary. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, one loan production office, 33 full-service offices in Pennsylvania and northeast Ohio, including ERIEBANK, a division of CNB Bank, 9 full-service offices in central Ohio conducting business as FCBank, a division of CNB Bank, and a full-service office in Buffalo, New York conducting business as Bank on Buffalo, a division of CNB Bank. More information about CNB Financial Corporation and CNB Bank may be found on the Internet at www.cnbbank.bank. 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. These forward-looking statements are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond CNB's control). Forward-looking statements often include the words "believes," "expects," "anticipates," "estimates," "forecasts," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions or future conditional verbs such as "may," "will," "should," "would" and "could." CNB's actual results may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. For more information about factors that could cause actual results to differ from those discussed in the forward-looking statements, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of and forward-looking statement disclaimers in CNB's annual and quarterly reports. The forward-looking statements are based upon management's beliefs and assumptions and are made as of the date of this press release. CNB undertakes no obligation to publicly update or revise any forward-looking statements included in this press release or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise, except to the extent required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur and you should not put undue reliance on any forward-looking statements.
News Article | May 8, 2017
HERSHEY, Pa.--(BUSINESS WIRE)--Officials of Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the opening of the 120-room Courtyard by Marriott Hershey Chocolate Avenue in Pa. The hotel is owned by Bears Creek Hershey Hotel, LLC, a joint development between Shaner and Chafia Capital Partners, a real estate investment and private equity firm. The property will be managed by Shaner Hotel Holdings, LP, and was financed by Clearfield, Pa.-based CNB Bank. “We have been quite active in hotel development the past several years, and the fruits of our labor are coming on line,” said Plato Ghinos, Shaner president. “We expect to open an additional four hotels in 2017 and another five projected to open in 2018. We are quite upbeat on our outlook for hotel real estate and continue to have an aggressive appetite to build respected brands in markets with high demand generators and barriers to new entry.” Located at 515 E. Chocolate Avenue in historic Hershey, Pa., the four-story hotel is nestled between downtown Hershey, the Hershey Country Club, Hershey Chocolate World, Hersheypark and the Hershey Medical Center. Additional nearby attractions include Indian Echo Caverns, Hollywood Casino at Penn National Race Course and ZooAmerica North American Wildlife Park. “While we always design our hotels to be a part of the local community, we took special steps for this property to architecturally enhance it to match Hershey’s historic downtown, providing such local touches as brick and limestone,” Ghinos added. Hotel amenities include guest laundry, fitness room, indoor pool and full-service business center. The hotel features the new Courtyard Refreshing Business lobby, which includes the C-Bar, serving breakfast, coffee and cocktails, as well as flexible seating options ranging from a communal table in the middle of the action to more private media booths with high-definition televisions to a more intimate, semi-enclosed lounge area. Guest rooms offer free Wi-Fi, plush bedding and a guest room entertainment package which includes 40 HD channels, an interactive channel guide and internet TV equipped with Netflix, YouTube, Hulu, Crackle and Pandora. “This property is configured to comfortably accommodate both business and leisure travelers that are coming to Hershey in larger numbers every year,” said Lance Shaner, Shaner Hotels chairman. “That’s what made this location so appealing, its close proximity to all the key locations in the city. With our headquarters just across the way in State College, we are particularly gratified to open this one-of-a-kind hotel in our backyard. As the newest hotel in Hershey, we expect the property to ramp up quickly as it takes its rightful place as the destination of choice for business and leisure travelers to the Sweetest Place on Earth.” Founded in 2003, Chafia Capital Partners is a real estate investment and private equity firm. Chafia Capital Partners, through its related entities, has invested in numerous commercial real estate assets across a variety of property segments and has experience in developing and repositioning commercial properties. Chafia Capital Partners also participates in private equity and venture capital transactions as a capital provider and advisor to both startup and existing operating businesses. For more information, visit www.chafiallc.com. Headquartered in State College, Pa., Shaner Hotels is one of the foremost owner-operator companies in the hospitality industry with more than $1 billion invested in 50 hotel properties owned and managed across the U.S., Italy and the Bahamas. Over the past 40 years, the company has also been engaged in both new development and redevelopment of more than 80 hotel projects with leading brand affiliations such as Marriott International, InterContinental Hotels, Choice Hotels and Hilton. New properties are constantly evaluated as Shaner Hotels continues a conservative yet opportunistic approach to growth. For more information about the company and its divisions visit www.shanercorp.com.
News Article | October 31, 2016
Earnings expand to record $46.4 million in first nine months of 2016 MIAMI, FL--(Marketwired - October 31, 2016) - City National Bank (CNB), Florida's premier private and commercial bank, announced financial results for the third quarter and first nine months of 2016, reporting a substantial increase in income, lending and assets. Net income for the first nine months of the year increased more than 29 percent to $46 million, $10.4 million more than the same period last year, after a one-time tax expense of $2.4 million. Third quarter net income rose 47 percent to $17.4 million compared to $11.8 million a year ago. "At the beginning of the year, we embarked on a strategic growth plan which has clearly shown solid results," CNB President and CEO Jorge Gonzalez said. "This plan is aimed at expanding City National and uniquely positioning it as a community bank with the scale to provide the services the marketplace wants, while still delivering a unique client experience based on personal relationships." The bank has entered the Tampa market, added more than 50 employees, repositioned its banking centers with a stronger commercial focus and rolled out a new brand image. "We are laser focused on constantly innovating and improving to serve our clients better," Gonzalez said. "The chief focus of our growth strategy is to add the solutions and services our clients need and to invest in our people, who are paramount to our success." In the third quarter of 2016, City National Bank was named one of the 'Best Banks to Work For' in the country by American Banker Magazine. The program, which was initiated in 2013 to identify, recognize and honor the best banks to work for in the nation, recognized 60 banks throughout the United States. City National Bank was the largest Florida-based bank to be named to the list. "Banking is a people business and as an employer of choice we continue to recruit and retain the best talent in the marketplace," Gonzalez added. "We operate under the simple belief that we differentiate ourselves with our people and the client experience they deliver." At the end of the third quarter, deposits were up to $5.1 billion, an increase of $574 million from the third quarter of 2015. DDA accounts for 40 percent of all deposits. The bank has grown loans by $943 million, or 23.5 percent, in the last twelve months to almost $5 billion in loans outstanding, compared to $4 billion at the same time last year. In the third quarter alone, new loan commitments totaled $528.2 million. "As we have put more of a focus on the commercial segment, we have seen strong growth as local businesses continue to grow and expand," Gonzalez said. "Business owners and entrepreneurs increasingly see the value in a bank that takes the time to get to know them, understand their needs and be a partner in their success." In addition, as the bank continues its growth trajectory it also enhanced its board roster. It recently added two new members to its already impressive board: Fernando Capablanca, Managing Director of Whitecap Consulting Group LLC in Coral Gables and Charles Papy, Of Counsel at the law firm of Duane Morris in Miami. "With the new additions to the Board of Directors, City National Bank is uniquely positioned with quality leadership," CNB President and CEO Jorge Gonzalez said. "Their combined experience in banking and business in general will be true assets as we look to strategically grow CNB into a powerhouse community bank." City National Bank continued its streak of accolades and recognition in 2016, receiving the coveted five-star "Superior" rating -- the highest possible -- from BauerFinancial, the leading bank ratings firm, for the 17th consecutive quarter. BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. City National Bank's strong capital position continued to improve. Tier 1 capital grew to $888.8 million, an increase of $22.5 million over June 2016. CNB continues to be one of the most liquid banks in Florida with excess liquidity of nearly $1.2 billion. About City National Bank of Florida Headquartered in Miami, City National Bank (CNB) is the financial institution to which Floridians have turned for 70 years. With more than $7 billion in assets, CNB is one of the largest financial institutions based in the state. City National Bank is a subsidiary of Chilean bank Banco de Credito e Inversiones (Bci), and remains a South Florida-based community bank with local decision making. City National Bank is one of the most liquid and best capitalized banks in Florida and is rated 5 stars "Superior" by BauerFinancial. CNB was voted Best Community Bank, Best Business Bank, Best Bank for Commercial Real Estate, Best Bank for Jumbo Loans, Best Private Bank and Best Foreign National Mortgage Lender by the readers of the Daily Business Review for the past four years. The South Florida Business Journal named it Business of the Year in 2013 and Community Bank of the Year in 2013 and 2011. CNB offers a diversified portfolio of financial products and services at 26 convenient banking centers from Miami-Dade County to Central Florida.
News Article | February 17, 2017
TAHLEQUAH, Okla., Feb. 17, 2017 (GLOBE NEWSWIRE) -- After several years of planning and negotiation with the federal government, the Cherokee Nation officially begins construction on the tribe's new 469,000-square-foot health facility. Hundreds turned out for a groundbreaking ceremony on Friday, including representatives from state, federal and tribal governments. When completed in 2019, it will be the largest health center of any tribe in the country. The new outpatient and primary care facility is being built next to the existing W.W. Hastings Hospital in Tahlequah. The four-story facility will feature 180 exam rooms; access to an MRI machine; 10 new cardiac, lung and kidney specialists, and, for the first time ever, an ambulatory surgery center. "This is a monumental day for the Cherokee Nation, and within just a couple of years, this state-of-the-art facility will be transformative in the lives of our citizens in northeast Oklahoma," said Cherokee Nation Principal Chief Bill John Baker. "The Cherokee Nation has broken barriers in health care throughout Indian Country for years, and with the addition of the new facility and new services that will come with this facility, we will be pioneers in health care recognized throughout the entire nation." The facility is the outcome of the largest IHS-joint venture agreement ever between a tribe and the federal government. The Cherokee Nation is paying for the $200 million construction of the health center, while Indian Health Service has agreed to pay an estimated $80 million or more per year for at least 20 years for staffing and operation costs. Chief Baker testified before a congressional subcommittee in Washington, D.C., in 2014, advocating for the reopening of the joint venture application process so tribes could invest in health care infrastructure without straining the finances of the federal government. In 2015, Cherokee Nation was among few tribes selected for joint venture projects. When W.W. Hastings Hospital was built in Tahlequah in 1986, it was built for 100,000 patient visits per year. In 2016, Hastings saw nearly 400,000 patient visits and had to refer many patients out of the system for specialty services. "We are in dire need of an additional building on campus, since our current Hastings facility sees four times as many annual visits as it was constructed to host," said Cherokee Nation Secretary of State Chuck Hoskin Jr. "After more than 30 years of utilizing and maximizing that space, it's fulfilling to know that once complete it will be a major advancement in our ability to deliver the kinds of health care services our people want and deserve." The new facility will feature five surgical suites and two endoscopy suites inside its ambulatory surgical center. It will house a specialty clinic and feature 33 dental chairs, six eye exam rooms, three audiology testing booths and diagnostic imagining. It also expands space for several other services currently offered such as rehabilitation services, behavioral health, a wellness center and more. "This top-rate facility will allow us to offer a level of health care and increased access to services in northeastern Oklahoma that weren't even thought possible before," said Cherokee Nation Health Services Executive Director Connie Davis. "On behalf of the Cherokee Nation Health Services staff, I thank Chief Baker, the Tribal Council and Cherokee Nation Businesses for giving us the opportunity to deliver first-class health care to our patients." In 2013, the tribe pledged for the first time to use $100 million from Cherokee Nation Businesses' casino profits to improve the Cherokee Nation's health care infrastructure. The funds expanded the Stilwell and Sallisaw health centers, built new health centers in Ochelata and Jay, and will be used for the new outpatient facility at Hastings. The original W.W. Hastings building will serve as the tribe's in-patient hospital. "The Cherokee Nation has never been more prosperous in its history, and with that prosperity we have invested in services that are a top priority for our people," said Cherokee Nation Tribal Council Speaker Joe Byrd. "That effort is evident in this new, state-of-the-art health facility. Our government and business officials have been diligent in managing and growing our resources, and our citizens today and future generations will reap the benefits of the work done by those officials." Childers Architects and HKS Architects are designing the LEED-certified facility, with Flintco serving as the construction manager while teaming with Cooper Construction. About 350 construction jobs and more than 850 new health jobs over time will be created from the project. Photo Cutline: Photo Cutline: (L to R) Cherokee Nation Businesses Board Member Gary Cooper, CEO Shawn Slaton, Cherokee Nation Health Services Deputy Executive Director Charles Grim, Indian Health Service Deputy Director of Field Operations Rear Adm. Kevin Meeks, Tribal Councilors Keith Austin and Janees Taylor, Health Services Executive Director Connie Davis, Chickasaw Nation Lt. Governor Jefferson Keel, Cherokee Nation Secretary of State Chuck Hoskin Jr., Treasurer Lacey Horn, Deputy Chief S. Joe Crittenden, Principal Chief Bill John Baker, Tribal Council Speaker Joe Byrd, Tribal Council Deputy Speaker Victoria Vazquez, Tribal council Secretary Frankie Hargis, Tribal Councilors Rex Jordan, David Walkingstick, and Bryan Warner, Cherokee Spiritual Leader Crosslin Smith, Tribal Councilors Dick Lay and Harley Buzzard, CNB Board Members Dan Carter and Jerry Holderby, CNB Executive Vice President Chuck Garrett, Little Cherokee Ambassador Emma Fields, Jr. Lauryn Skye McCoy, Little Cherokee Ambassador Reese Henson, Miss Cherokee Sky Wildcat, W.W. Hastings Hospital CEO Brian Hail, Dr. James Stallcup and Dr. Stephen Jones Photo Cutline: Rendering of the entrance of the new 469,000-square-foot outpatient health center to be built on the W.W. Hastings campus in Tahlequah. About Cherokee Nation The Cherokee Nation is the federally recognized government of the Cherokee people and has inherent sovereign status recognized by treaty and law. The seat of tribal government is the W.W. Keeler Complex near Tahlequah, Oklahoma, the capital of the Cherokee Nation. With more than 340,000 citizens, 11,000 employees and a variety of tribal enterprises ranging from aerospace and defense contracts to entertainment venues, Cherokee Nation is one of the largest employers in northeastern Oklahoma and the largest tribal nation in the United States. To learn more, please visit www.cherokee.org. Editor's note: Find all the latest Cherokee Nation news at www.anadisgoi.com. Photos accompanying this release are available at: http://www.globenewswire.com/newsroom/prs/?pkgid=42199 http://www.globenewswire.com/newsroom/prs/?pkgid=42200
News Article | November 25, 2016
This report studies sales (consumption) of Video Surveillance in Global market, especially in United States, China, Europe, Japan, focuses on top players in these regions/countries, with sales, price, revenue and market share for each player in these regions, covering Honeywell security Bosch Tyco SAMSUNG SONY Vaddio Hicvision Panasonic Pelco Axis CANON IndigoVision Aventura Redvision VICON Videotec CNB Dahua Yaan TIANDY VIVOTEK Arecont Vision CHANGHONG Infinova Hunt Electronic Avigilon Avtech Geovision Market Segment by Regions, this report splits Global into several key Regions, with sales (consumption), revenue, market share and growth rate of Video Surveillance in these regions, from 2011 to 2021 (forecast), like United States China Europe Japan Split by product Types, with sales, revenue, price and gross margin, market share and growth rate of each type, can be divided into Type I Type II Type III Split by applications, this report focuses on sales, market share and growth rate of Video Surveillance in each application, can be divided into Application 1 Application 2 Application 3 1 Video Surveillance Overview 1.1 Product Overview and Scope of Video Surveillance 1.2 Classification of Video Surveillance 1.2.1 Type I 1.2.2 Type II 1.2.3 Type III 1.3 Application of Video Surveillance 1.3.1 Application 1 1.3.2 Application 2 1.3.3 Application 3 1.4 Video Surveillance Market by Regions 1.4.1 United States Status and Prospect (2011-2021) 1.4.2 China Status and Prospect (2011-2021) 1.4.3 Europe Status and Prospect (2011-2021) 1.4.4 Japan Status and Prospect (2011-2021) 1.5 Global Market Size (Value and Volume) of Video Surveillance (2011-2021) 1.5.1 Global Video Surveillance Sales and Growth Rate (2011-2021) 1.5.2 Global Video Surveillance Revenue and Growth Rate (2011-2021) 2 Global Video Surveillance Competition by Manufacturers, Type and Application 2.1 Global Video Surveillance Market Competition by Manufacturers 2.1.1 Global Video Surveillance Sales and Market Share of Key Manufacturers (2011-2016) 2.1.2 Global Video Surveillance Revenue and Share by Manufacturers (2011-2016) 2.2 Global Video Surveillance (Volume and Value) by Type 2.2.1 Global Video Surveillance Sales and Market Share by Type (2011-2016) 2.2.2 Global Video Surveillance Revenue and Market Share by Type (2011-2016) 2.3 Global Video Surveillance (Volume and Value) by Regions 2.3.1 Global Video Surveillance Sales and Market Share by Regions (2011-2016) 2.3.2 Global Video Surveillance Revenue and Market Share by Regions (2011-2016) 2.4 Global Video Surveillance (Volume) by Application 3 United States Video Surveillance (Volume, Value and Sales Price) 3.1 United States Video Surveillance Sales and Value (2011-2016) 3.1.1 United States Video Surveillance Sales and Growth Rate (2011-2016) 3.1.2 United States Video Surveillance Revenue and Growth Rate (2011-2016) 3.1.3 United States Video Surveillance Sales Price Trend (2011-2016) 3.2 United States Video Surveillance Sales and Market Share by Manufacturers 3.3 United States Video Surveillance Sales and Market Share by Type 3.4 United States Video Surveillance Sales and Market Share by Application 4 China Video Surveillance (Volume, Value and Sales Price) 4.1 China Video Surveillance Sales and Value (2011-2016) 4.1.1 China Video Surveillance Sales and Growth Rate (2011-2016) 4.1.2 China Video Surveillance Revenue and Growth Rate (2011-2016) 4.1.3 China Video Surveillance Sales Price Trend (2011-2016) 4.2 China Video Surveillance Sales and Market Share by Manufacturers 4.3 China Video Surveillance Sales and Market Share by Type 4.4 China Video Surveillance Sales and Market Share by Application 5 Europe Video Surveillance (Volume, Value and Sales Price) 5.1 Europe Video Surveillance Sales and Value (2011-2016) 5.1.1 Europe Video Surveillance Sales and Growth Rate (2011-2016) 5.1.2 Europe Video Surveillance Revenue and Growth Rate (2011-2016) 5.1.3 Europe Video Surveillance Sales Price Trend (2011-2016) 5.2 Europe Video Surveillance Sales and Market Share by Manufacturers 5.3 Europe Video Surveillance Sales and Market Share by Type 5.4 Europe Video Surveillance Sales and Market Share by Application 6 Japan Video Surveillance (Volume, Value and Sales Price) 6.1 Japan Video Surveillance Sales and Value (2011-2016) 6.1.1 Japan Video Surveillance Sales and Growth Rate (2011-2016) 6.1.2 Japan Video Surveillance Revenue and Growth Rate (2011-2016) 6.1.3 Japan Video Surveillance Sales Price Trend (2011-2016) 6.2 Japan Video Surveillance Sales and Market Share by Manufacturers 6.3 Japan Video Surveillance Sales and Market Share by Type 6.4 Japan Video Surveillance Sales and Market Share by Application 7 Global Video Surveillance Manufacturers Analysis 7.1 Honeywell security 7.1.1 Company Basic Information, Manufacturing Base and Competitors 7.1.2 Video Surveillance Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.1.3 Honeywell security Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.1.4 Main Business/Business Overview 7.2 Bosch 7.2.1 Company Basic Information, Manufacturing Base and Competitors 7.2.2 121 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.2.3 Bosch Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.2.4 Main Business/Business Overview 7.3 Tyco 7.3.1 Company Basic Information, Manufacturing Base and Competitors 7.3.2 141 Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.3.3 Tyco Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.3.4 Main Business/Business Overview 7.4 SAMSUNG 7.4.1 Company Basic Information, Manufacturing Base and Competitors 7.4.2 Nov Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.4.3 SAMSUNG Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.4.4 Main Business/Business Overview 7.5 SONY 7.5.1 Company Basic Information, Manufacturing Base and Competitors 7.5.2 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.5.3 SONY Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.5.4 Main Business/Business Overview 7.6 Vaddio 7.6.1 Company Basic Information, Manufacturing Base and Competitors 7.6.2 Million USD Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.6.3 Vaddio Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.6.4 Main Business/Business Overview 7.7 Hicvision 7.7.1 Company Basic Information, Manufacturing Base and Competitors 7.7.2 Machinery & Equipment Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.7.3 Hicvision Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.7.4 Main Business/Business Overview 7.8 Panasonic 7.8.1 Company Basic Information, Manufacturing Base and Competitors 7.8.2 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.8.3 Panasonic Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.8.4 Main Business/Business Overview 7.9 Pelco 7.9.1 Company Basic Information, Manufacturing Base and Competitors 7.9.2 Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.9.3 Pelco Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.9.4 Main Business/Business Overview 7.10 Axis 7.10.1 Company Basic Information, Manufacturing Base and Competitors 7.10.2 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.10.3 Axis Video Surveillance Sales, Revenue, Price and Gross Margin (2011-2016) 7.10.4 Main Business/Business Overview 7.11 CANON 7.12 IndigoVision 7.13 Aventura 7.14 Redvision 7.15 VICON 7.16 Videotec 7.17 CNB 7.18 Dahua 7.19 Yaan 7.20 TIANDY 7.21 VIVOTEK 7.22 Arecont Vision 7.23 CHANGHONG 7.24 Infinova 7.25 Hunt Electronic 7.26 Avigilon 7.27 Avtech 7.28 Geovision 8 Video Surveillance Maufacturing Cost Analysis 8.1 Video Surveillance Key Raw Materials Analysis 8.1.1 Key Raw Materials 8.1.2 Price Trend of Key Raw Materials 8.1.3 Key Suppliers of Raw Materials 8.1.4 Market Concentration Rate of Raw Materials 8.2 Proportion of Manufacturing Cost Structure 8.2.1 Raw Materials 8.2.2 Labor Cost 8.2.3 Manufacturing Process Analysis of Video Surveillance 9 Industrial Chain, Sourcing Strategy and Downstream Buyers 9.1 Video Surveillance Industrial Chain Analysis 9.2 Upstream Raw Materials Sourcing 9.3 Raw Materials Sources of Video Surveillance Major Manufacturers in 2015 9.4 Downstream Buyers 12 Global Video Surveillance Market Forecast (2016-2021) 12.1 Global Video Surveillance Sales, Revenue Forecast (2016-2021) 12.2 Global Video Surveillance Sales Forecast by Regions (2016-2021) 12.3 Global Video Surveillance Sales Forecast by Type (2016-2021) 12.4 Global Video Surveillance Sales Forecast by Application (2016-2021)
News Article | October 27, 2016
BRIDGEHAMPTON, N.Y., Oct. 27, 2016 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (NASDAQ:BDGE), the parent company of The Bridgehampton National Bank (“BNB”), today announced third quarter results for 2016. Highlights of the Company's financial results for the quarter include: (1) See reconciliations of As Reported (GAAP) to Core (Non-GAAP) disclosure provided elsewhere herein. “This is the first quarter we can compare our performance year-over-year inclusive of the Community National Bank acquisition. We continue to see benefits from this acquisition, especially through operating leverage as evidenced in our lower efficiency and expense-to-assets ratios,” noted Kevin M. O’Connor, President and CEO. Net Earnings and Returns Net income for the quarter was $8.9 million or $.50 per diluted share, compared to $7.9 million or $.45 per diluted share for the third quarter of 2015. Net income for the quarter ended September 30, 2015 included $.6 million of costs, net of income taxes, associated with the CNB acquisition, and a gain on the sale of loans, net of income taxes, of $.2 million. Net income for the nine months ended September 2016 was $26.3 million or $1.50 per diluted share, compared to $13.1 million or $.94 per diluted share in 2015. Core net income for the third quarter was $9.0 million or $.51 per diluted share, compared to $8.5 million or $.49 per diluted share, for the same period in 2015. Core net income reflects the quarterly results adjusted for certain costs, net of tax, related to the CNB acquisition and a gain on the sale of loans in 2015. Returns on average assets and equity for the third quarter of 2016 were .93% and 9.78%, compared to .91% and 9.25% in 2015, respectively, while core returns on average assets and equity for the third quarter of 2016 were .95% and 9.91%, compared to .98% and 10.00% in 2015, respectively. Return on average tangible common equity for the third quarter of 2016 was 14.24% compared to 13.37% in 2015. Core return on average tangible common equity for the third quarter of 2016 was 14.72% compared to 14.78% in 2015. Interest income increased $3.0 million for the third quarter of 2016 over 2015 as average earning assets increased by 9% or $272.7 million, while the net interest margin decreased to 3.61% from 3.71% in the third quarter of 2015. The net interest margin in both periods reflects greater than expected cash flows associated with acquired loans. The increase in average earning assets reflects growth in loans and securities. The decrease in the net interest margin reflects the higher costs of borrowings associated with the $80 million in subordinated debentures issued in September 2015, federal funds purchased and repurchase agreements, and FHLB advances. The provision for loan losses was $2.0 million for the quarter, $0.5 million higher than the third quarter of 2015. The higher provision in the third quarter of 2016 is due to portfolio growth as well as certain acquired loans being refinanced by BNB. Acquired loans are recorded at fair value at acquisition, effectively netting estimated future losses against the loan balances whereas loans originated and refinanced by BNB have recorded reserves. The Company recognized net charge-offs of $.4 million in the third quarter of 2016 compared to net charge-offs of $.1 million for the same period in 2015. Total non-interest income was $4.0 million for the third quarter of 2016, $.1 million higher than 2015, resulting from an increase in customer fee income offset by a decrease in gain on sale of loans. Non-interest expense for the third quarter of 2016 decreased to $19.2 million from $19.4 million in 2015, which included $.9 million in costs associated with the CNB acquisition. Non-interest expense in 2015 excluding CNB acquisition related costs was $18.5 million. The 2016 non-interest expense compared to the adjusted 2015 non-interest expense, reflects an increase in salaries expense, investments in technology, and additional marketing costs, partially offset by a decrease in amortization of CNB related intangible assets. Additionally, the Company’s ratio of operating expenses to average assets decreased to 2.03% in the third quarter of 2016 from 2.23% in 2015. Core operating expenses to average assets decreased to 1.98% in the third quarter of 2016 from 2.05% in 2015. Balance Sheet and Asset Quality Total assets were $3.8 billion at September 30, 2016, $326.7 million higher than September 2015. Average earning assets for the third quarter 2016 increased $272.7 million or 9% compared to September 2015. Total loans at September 2016 of $2.6 billion reflect growth of $285.0 million or 12% over September 2015. This increase in loans was funded by growth in borrowings including the $80 million in subordinated debentures issued in September 2015. Demand deposits totaled $1.1 billion at September 2016, representing 38% of total deposits and an increase of $67.8 million or 6% higher than September 2015. Asset quality measures remained strong, as non-performing assets, comprised exclusively of non-performing loans, were $2.1 million or .05% of total assets and .08% of total loans at September 2016 compared to $1.4 million or .04% of total assets and .06% of total loans at September 2015. Loans 30 to 89 days past due increased $1.3 million to $4.0 million at September 2016, with $2.3 million representing CNB acquired loans. Loans past due 90 days and still accruing at September 2016 were comprised of acquired loans of $1.0 million, a decrease of $3.1 million, compared to September 2015. The allowance for loan losses increased $4.1 million to $24.3 million at September 2016 from $20.2 million as of September 2015. The allowance as a percentage of loans was .94% at September 30, 2016 compared to .88% at September 30, 2015. The allowance as a percentage of BNB originated loans was 1.19%, based on BNB originated loans totaling $2.1 billion, at September 2016, compared to 1.30%, based on BNB originated loans totaling $1.6 billion, at September 2015. The decline in the allowance as a percentage of BNB originated loans reflects an improving economy and increasing collateral values. Stockholders’ equity grew $22.2 million to $362.6 million at September 2016, compared to $340.4 million at September 2015. The growth reflects earnings, capital raised in connection with the Dividend Reinvestment Plan, and an increase in the fair value of available for sale investment securities, partially offset by shareholders' dividends. The Company's capital ratios exceed all fully phased in capital requirements under the Basel III rules and the Bank remains classified as well capitalized. “Although the turmoil in the financial markets has subsided somewhat since the Brexit vote at the end of the second quarter, market uncertainty continues. While it is unlikely the Federal Reserve will raise rates going into a U.S. Election, some economists are calling for a raise in December. We will continue to deploy our capital as opportunities arise. During the quarter we reinvested in our bond portfolio as rates rose slightly in the third quarter,” noted Mr. O’Connor. Challenges and Opportunities “The regulatory focus on commercial real estate (CRE) loan concentrations has not abated. We continue to invest in people and systems that allow us to execute on our business model, while addressing regulatory concerns. Our primary strategic focus is to take advantage of the market opportunities arising from the acquisitions of local competitors. Our community banking model positions us well to acquire customers who value a locally managed institution,” stated Mr. O’Connor. About Bridge Bancorp, Inc. Bridge Bancorp, Inc. is a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, The Bridgehampton National Bank. Established in 1910, BNB, with assets of approximately $3.8 billion, operates 40 retail branch locations serving Long Island and the greater New York metropolitan area. In addition, the Bank operates two loan production offices: one in Manhattan, and one in Riverhead, New York. Through its branch network and its electronic delivery channels, BNB provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through BNB's wholly owned subsidiary, Bridge Abstract. Bridge Financial Services, Inc. offers financial planning and investment consultation. For more information visit www.bridgenb.com. BNB also has a rich tradition of involvement in the community, supporting programs and initiatives that promote local business, the environment, education, healthcare, social services and the arts. Please see the attached tables for selected financial information. This report may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Such forward-looking statements, in addition to historical information, involve risk and uncertainties, and are based on the beliefs, assumptions and expectations of management of the Company. Words such as “expects,” “believes,” “should,” “plans,” “anticipates,” “will,” “potential,” “could,” “intend,” “may,” “outlook,” “predict,” “project,” “would,” “estimated,” “assumes,” “likely,” and variation of such similar expressions are intended to identify such forward-looking statements. Examples of forward-looking statements include, but are not limited to, possible or assumed estimates with respect to the financial condition, expected or anticipated revenue, and results of operations and business of the Company, including earnings growth; revenue growth in retail banking lending and other areas; origination volume in the consumer, commercial and other lending businesses; current and future capital management programs; non-interest income levels, including fees from the title abstract subsidiary and banking services as well as product sales; tangible capital generation; market share; expense levels; and other business operations and strategies. The Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA. Factors that could cause future results to vary from current management expectations include, but are not limited to, changing economic conditions; legislative and regulatory changes, including increases in FDIC insurance rates; monetary and fiscal policies of the federal government; changes in tax policies; rates and regulations of federal, state and local tax authorities; changes in interest rates; deposit flows; the cost of funds; demands for loan products; demand for financial services; competition; changes in the quality and composition of the Bank’s loan and investment portfolios; changes in management’s business strategies; changes in accounting principles, policies or guidelines; changes in real estate values; an unexpected increase in operating costs; expanded regulatory requirements as a result of the Dodd-Frank Act; and other risk factors discussed elsewhere, and in our reports filed with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this report, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
News Article | February 15, 2017
CLEARFIELD, PA--(Marketwired - February 14, 2017) - The Board of Directors of CNB Financial Corporation ( : CCNE) has announced the declaration of 16.5 cents per share quarterly dividend payable on March 15, 2017 to shareholders of record on March 1, 2017. CNB Financial Corporation is a financial holding company with consolidated assets of approximately $2.6 billion that conducts business primarily through CNB Bank, CNB Financial Corporation's principal subsidiary. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include: 32 full-service offices and 1 loan production office in Pennsylvania and northeast Ohio, including ERIEBANK, a division of CNB Bank; 9 full-service offices and 1 loan production office in central Ohio conducting business as FCBank, a division of CNB Bank; and 1 loan production office in Buffalo, New York conducting business as Bank on Buffalo, a division of CNB Bank. For further information regarding the stock of CNB Financial Corporation, please call (814) 765-9621, CNB Bank Stock Transfer Department or contact any brokerage firm. The identifying symbol for this security is CCNE. CNB Bank websites can be found at www.cnbbank.bank, www.eriebank.bank, www.fcbank.bank, and www.bankonbuffalo.bank.
News Article | November 7, 2016
MICHIGAN CITY, Ind. & ATTICA, Ind.--(BUSINESS WIRE)--Horizon Bancorp (NASDAQ: HBNC)(“Horizon”), the parent of Horizon Bank, N.A., (“Horizon Bank”) announces the completion of the acquisition of CNB Bancorp (“CNB”), parent company of The Central National Bank and Trust Company (“Central National Bank & Trust”) of Attica, Indiana, effective November 7, 2016. A subsidiary of Horizon was merged into CNB, and then CNB was merged into Horizon. At the same time, Central National Bank & Trust w