Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 101

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 101
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 value per common share (non-GAAP)$24.24 $22.46 Common shareholders' equity / Total assets (GAAP)8.93 %8.93 %Tangible common equity / Tangible assets (non-GAAP)8.28 %8.22 %

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Years EndedDecember 31,20242023Calculation of net interest margin:Interest income$325,470 $293,696 Interest expense138,001 103,867 Net interest income$187,469 $189,829 Average total earning assets$5,499,187 $5,232,117 Net interest margin (GAAP)3.41 %3.63 %Calculation of net interest margin (fully tax equivalent basis) (non-GAAP):Interest income$325,470 $293,696 Tax equivalent adjustment (non-GAAP)955 997 Adjusted interest income (fully tax equivalent basis) (non-GAAP)326,425 294,693 Interest expense138,001 103,867 Net interest income (fully tax equivalent basis) (non-GAAP)$188,424 $190,826 Average total earning assets$5,499,187 $5,232,117 Less: average mark to market adjustment on investments (non-GAAP)(53,087)(61,089)Adjusted average total earning assets, net of mark to market (non-GAAP)$5,552,274 $5,293,206 Net interest margin, fully tax equivalent basis (non-GAAP)3.39 %3.61 %

Years EndedDecember 31,20242023Calculation of PPNR (non-GAAP): (1)Net interest income$187,469 $189,829 Add: Non-interest income39,114 33,335 Less: Non-interest expense150,002 145,342 PPNR (non-GAAP)$76,581 $77,822 (1) Management believes that this is an important metric as it illustrates the underlying performance of the Corporation, it enables investors and others to assess the Corporation's ability to generate capital to cover credit losses through the credit cycle and provides consistent reporting with a key metric used by bank regulatory agencies.

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Years EndedDecember 31,20242023Calculation of efficiency ratio:Non-interest expense$150,002 $145,342 Non-interest income$39,114 $