CNB Community Bancorp Inc (OTCMKTS:CNBB) Stock In Focus After New Appointment

CNB Community Bancorp Inc (OTCMKTS:CNBB) on September 16, 2022, announced that post a comprehensive search, Joseph R. Williams has accepted on becoming CEO and President of the firm as well as its wholly owned subsidiary, County National Bank.

Trading Data

On Friday, CNBB stock moved up 0.88% to $0.0807 with 6.50K shares, compared to volume of 12.35K shares. The stock moved within a range of $0.0774 – 0.0807 after opening trade at $0.0774.

Cnb Community Bancorp, Inc. Announces New President And Chief Executive Officer

Williams is presently serving as a member of the Board of Directors of the firm as well as the Bank.

Williams expressed excitement about joining CNB as he understands community banking. The CEO further said that he is looking at serving the community with a great executive team. Williams also said that the focus will be on employee development, community impact, shareholder return as well as client experience.

Williams also opined that he is honored on being part of a great team and build on a foundation developed over almost nine decades.

With over four decades of experience, Williams served as the Lenawee County Market President. He also served as President and CEO of United Bank before that.

Craig S. Connor, Chairman of the Board said that the entire board of directors is happy with the selection of Joe. Connor added that Joe is an experienced, talented, and knowledgeable community banker with a track record of robust leadership, team building as well as service to the community. He further said that the future of all stakeholders has become brighter.

Key Quote

Mr. Williams stated, “I am excited to join CNB full time.  They understand community banking and I am looking forward to serving alongside a great executive team.  Our focus will be on community impact, employee development, client experience, and shareholder return.  I am honored and humbled to be part of a great team and build upon the tremendous foundation that has been developed over the last 88 years.”

Technical Data

CNBB stock is trading above the 20-Day and 50-Day Moving averages of $36.50 and $36 respectively. However, the stock is trading below the 200-Day moving average of $43. The company has a total market capitalization of $82 million.