-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IClVt3AtkrLWpAM6CkCbjCdLTYWUR5zwcEhtcUxM9mXIom8p9L46qXJFr92T+xii p6NMKLV9m9Wetd8swQCKsg== 0000950123-09-070166.txt : 20091211 0000950123-09-070166.hdr.sgml : 20091211 20091211151443 ACCESSION NUMBER: 0000950123-09-070166 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20091210 ITEM INFORMATION: Other Events FILED AS OF DATE: 20091211 DATE AS OF CHANGE: 20091211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CNB CORP /MI/ CENTRAL INDEX KEY: 0000779125 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 362662386 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-00737 FILM NUMBER: 091236053 BUSINESS ADDRESS: STREET 1: PO BOX 10 CITY: CHEBOYGAN STATE: MI ZIP: 49721 BUSINESS PHONE: 6166277111 MAIL ADDRESS: STREET 1: P O BOX 10 CITY: CHEBOYGAN STATE: MI ZIP: 49721 8-K 1 k48646e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 10, 2009
Date of Report (Date of earliest event reported)
CNB CORPORATION
(Exact name of registrant as specified in its charter)
         
Michigan   033-00737   38-2662386
(State or other jurisdiction of   (Commission   (I.R.S. Employer
incorporation or organization)   file number)   Identification No.)
303 North Main Street, Cheboygan MI 49721
(Address of principal executive offices, including Zip Code)
(231) 627-7111
(Registrant’s telephone number, including area code)
NO CHANGE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

ITEM 8.01. Other Events
Susan A. Eno, President and Chief Executive Officer of CNB Corporation announces that at its December 10, 2009 meeting the Board of Directors of CNB Corporation voted that no dividend will be paid for the fourth quarter of 2009.
Factors contributing to this decision continue to be similar to those in the first three quarters of 2009. Those factors included the capital impact from the 2008 year end net loss due to the write down of investment securities as well as the impact of the continued provision for loan losses during 2009 by Citizens National Bank. At the same time, the country is faced with unprecedented economic challenges expected to increase the pressure on both the loan and investment portfolios of Citizens National Bank.
Going forward CNB Corporation and Citizens National Bank are focused on preserving and building capital. One component of accomplishing this goal is suspending dividends until there are signs of improvement in the capital and credit markets.
The CNB Corporation Board of Directors reassesses the dividend each quarter based on earnings performance and the economic outlook.

 

 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CNB Corporation
(Registrant)
 		  
  /s/ Susan A. Eno    
  Susan A. Eno   
  President and Chief Executive Officer   
 
Dated: December 11, 2009

 

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