Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 240

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 240
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non-GAAP)$0.57 $0.55 

(unaudited)Three Months EndedMarch 31,20252024Calculation of dividend payout ratio:Cash dividends per common share$0.180 $0.175 Diluted earnings per common share0.50 0.55 Dividend payout ratio36.00 %31.82 %Adjusted calculation of dividend payout ratio (non-GAAP):Cash dividends per common share$0.180 $0.175 Adjusted diluted earnings per common share (non-GAAP)0.57 0.55 Adjusted dividend payout ratio (non-GAAP)31.58 %31.82 %

65

NON-GAAP FINANCIAL MEASURES (continued)

(unaudited)Three Months EndedMarch 31,20252024Calculation of return on average assets: Net income$11,481 $12,600 Average total assets$6,220,575 $5,729,779 Return on average assets (GAAP) (annualized)0.75 %0.88 %Adjusted calculation of return on average assets (non-GAAP):Net income$11,481 $12,600 Add: Merger costs, net of tax (non-GAAP)1,487 — Adjusted net income$12,968 $12,600 Average total assets$6,220,575 $5,729,779 Adjusted return on average assets (GAAP) (annualized)0.85 %0.88 %

(unaudited)Three Months EndedMarch 31,20252024Calculation of return on average tangible common equity (non-GAAP):Net income$11,481 $12,600 Less: preferred stock dividends1,075 1,075 Net income available to common shareholders$10,406 $11,525 Average shareholders' equity$619,409 $576,528 Less: average goodwill & intangibles44,074 44,147 Less: average preferred equity57,785 57,785 Average tangible common shareholders' equity (non-GAAP)$517,550 $474,596 Return on average equity (GAAP) (annualized)7.52 %8.79 %Return on average common equity (GAAP) (annualized)7.51 %8.94 %Return on average tangible common equity (non