OTCPK:CBNC

Stock Analysis Report

Executive Summary

County Bank Corp operates as the holding company for Lakestone Bank & Trust that provides various banking products and services in the United States.

Snowflake

Fundamentals

Flawless balance sheet with acceptable track record.

Share Price & News

How has County Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

CBNC

2.9%

US Banks

0.07%

US Market


1 Year Return

28.8%

CBNC

8.6%

US Banks

8.9%

US Market

Return vs Industry: CBNC exceeded the US Banks industry which returned 8.6% over the past year.

Return vs Market: CBNC exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

CBNCIndustryMarket
7 Day1.4%2.9%0.07%
30 Day3.7%3.4%-0.3%
90 Day3.8%2.1%-1.6%
1 Year34.5%28.8%11.8%8.6%11.3%8.9%
3 Year112.1%87.2%54.8%44.1%46.3%36.8%
5 Year234.6%165.9%70.2%51.6%62.1%44.3%

Price Volatility Vs. Market

How volatile is County Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is County Bank undervalued compared to its fair value and its price relative to the market?

14.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CBNC ($58.5) is trading above our estimate of fair value ($35.74)

Significantly Below Fair Value: CBNC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CBNC is poor value based on its PE Ratio (14.4x) compared to the Banks industry average (12.6x).

PE vs Market: CBNC is good value based on its PE Ratio (14.4x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CBNC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CBNC is overvalued based on its PB Ratio (1.6x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is County Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

2.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CBNC's forecast earnings growth (2.7% per year) is below the savings rate (2.7%).

Earnings vs Market: CBNC's earnings (2.7% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: CBNC's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if CBNC's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if CBNC's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CBNC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has County Bank performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CBNC's earnings have grown by 16.3% per year over the past 5 years.

Accelerating Growth: CBNC's earnings growth over the past year (27.7%) exceeds its 5-year average (16.3% per year).

Earnings vs Industry: CBNC earnings growth over the past year (27.7%) underperformed the Banks industry 29.7%.


Return on Equity

High ROE: CBNC's Return on Equity (11.1%) is considered low.


Return on Assets

ROA vs Industry: CBNC has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CBNC's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is County Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CBNC has a low level of unsold assets or inventory.

Debt Coverage by Assets: CBNC's debt is covered by short term assets (assets are 2.446080x debt).


Financial Institutions Analysis

Asset Level: CBNC's level of assets compared to its equity is low.

Allowance for Bad Loans: CBNC has a sufficient allowance for bad loans.

Low Risk Liabilities: CBNC's liabilities are made up of primarily low risk sources of funding.

Loan Level: CBNC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CBNC's loans are broadly funded by customer deposits.

Level of Bad Loans: CBNC has an appropriate level of bad loans (0.39%)


Next Steps

Dividend

What is County Bank's current dividend yield, its reliability and sustainability?

3.59%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CBNC's dividend (3.59%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CBNC's dividend (3.59%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: Whilst dividend payments have been stable, CBNC has been paying a dividend for less than 10 years.

Growing Dividend: CBNC's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35%), CBNC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of County Bank's salary, the management and board of directors tenure and is there insider trading?

26.8yrs

Average board tenure


CEO

Bruce Cady (66yo)

0yrs

Tenure

US$190,291

Compensation

Mr. Bruce J. Cady serves as Chief Executive Officer, President of County Bank Corp. and served as its Vice President. Mr. Cady has been President of Lakestone Bank & Trust (formerly known as Lapeer County  ...


Board Age and Tenure

26.8yrs

Average Tenure

65.5yo

Average Age

Experienced Board: CBNC's board of directors are seasoned and experienced ( 26.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Gary Drainville (69yo)

    • Tenure: 0yrs
  • Joe Black (70yo)

    Chief Financial Officer

    • Tenure: 0yrs
  • Bruce Cady (66yo)

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: US$190.29k
  • Loren Schafer

    VP & Human Resources Director

    • Tenure: 0yrs
  • Shelly Childers

    Chief Information Officer

    • Tenure: 0yrs
  • Ashley Winter

    VP & Chief Credit Officer

    • Tenure: 0yrs
  • Cindy Strich

    VP, Senior Compliance & BSA Officer

    • Tenure: 0yrs
  • Danielle Chateauvert

    Assistant VP & Marketing Director

    • Tenure: 0yrs
  • Sharon Skirke

    Compliance & Administration Officer

    • Tenure: 0yrs
  • Mike Burke

    President

    • Tenure: 0yrs

Board Members

  • Dave Bush (68yo)

    Director

    • Tenure: 32.8yrs
  • Bruce Cady (66yo)

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: US$190.29k
  • Pat Cronin (65yo)

    Director

    • Tenure: 26.8yrs
  • Rick Burrough (55yo)

    Director

    • Tenure: 10.8yrs
  • Mike Burke

    President

    • Tenure: 0yrs
  • Greg McConnell

    Director

    • Tenure: 0yrs
  • Harold Burns

    Director

    • Tenure: 0yrs

Company Information

County Bank Corp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: County Bank Corp
  • Ticker: CBNC
  • Exchange: OTCPK
  • Founded: 1902
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$102.193m
  • Shares outstanding: 1.75m
  • Website: https://www.lakestonebank.com

Location

  • County Bank Corp
  • 83 West Nepessing Street
  • Lapeer
  • Michigan
  • 48446
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CBNCOTCPK (Pink Sheets LLC)YesCommon StockUSUSDDec 1991

Biography

County Bank Corp operates as the holding company for Lakestone Bank & Trust that provides various banking products and services in the United States. The company offers checking, everyday interest statemen ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/01 23:35
End of Day Share Price2019/09/30 00:00
Earnings2019/03/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.