Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 108

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 108
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 381 9,574 Total interest-bearing deposits14,707 (11,820)2,887 Short-Term Borrowings(1)2,252 2,251 Finance lease liabilities570 129 699 Subordinated debentures7 (173)(166)Total Interest-Bearing Liabilities$15,283 $(9,612)$5,671 Change in Net Interest Income$20,452 $9,047 $29,499 

(1) Changes in interest income or expense not arising solely as a result of volume or rate variances are allocated to volume changes.

(2) Changes in interest income on tax-exempt securities and loans receivable are presented on a fully taxable-equivalent basis, using the Corporation's marginal federal income tax rate of 21% for the nine months ended September 30, 2025 and September 30, 2024.

(3) Includes loans held for sale.

71

RESULTS OF OPERATIONS

Three Months Ended September 30, 2025 and 2024

OVERVIEW

Net income available to common shareholders ("earnings") was $6.0 million, or $0.22 per diluted share, for the three months ended September 30, 2025. Excluding after-tax merger and integration costs and the day-one reserve established for non-Purchase Credit Deteriorated ("non-PCD") loans ("merger transaction related expenses"), adjusted earnings were $22.5 million, or $0.82 per diluted share, for the three months ended September 30, 2025. The Corporation's earnings for the three months ended September 30, 2024 were $12.9 million, or $0.61 per diluted share. Excluding merger transaction related expenses, the increase in diluted earnings per share comparing the three months ended September 30, 2025 to the three months ended September 30, 2024 was due primarily to higher net interest income, partially offset by an incresae in non-interest expense.

Annualized return on average equity was 3.60% for the three months ended September 30, 2025. Excluding after-tax merger transaction related expenses, annualized return on average equity was 12.05% for the three months ended September 30, 2025, compared to 9.28% for the three months ended September 30, 2024. Annualized return on average tangible common equity, a non-G