Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 93

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 93
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%68.29 %

63

NON-GAAP FINANCIAL MEASURES (continued)

(unaudited)Three Months EndedMarch 31,20252024Calculation of net interest margin:Interest income$82,379 $77,905 Interest expense33,948 32,683 Net interest income$48,431 $45,222 Average total earning assets$5,803,526 $5,350,126 Net interest margin (GAAP) (annualized)3.38 %3.40 %Calculation of net interest margin (fully tax equivalent basis) (non-GAAP):Interest income$82,379 $77,905 Tax equivalent adjustment (non-GAAP)260 217 Adjusted interest income (fully tax equivalent basis) (non-GAAP)82,639 78,122 Interest expense33,948 32,683 Net interest income (fully tax equivalent basis) (non-GAAP)$48,691 $45,439 Average total earning assets$5,803,526 $5,350,126 Less: average mark to market adjustment on investments (non-GAAP)(48,070)(55,146)Adjusted average total earning assets, net of mark to market (non-GAAP)$5,851,596 $5,405,272 Net interest margin, fully tax equivalent basis (non-GAAP) (annualized)3.37 %3.38 %

(unaudited)Three Months EndedMarch 31,20252024Calculation of PPNR (non-GAAP): (1)Net interest income$48,431 $45,222 Add: Non-interest income8,507 8,955 Less: Non-interest expense41,038 37,424 PPNR (non-GAAP)$15,900 $16,753 Adjusted calculation of PPNR (non-GAAP): (1)Net interest income$48,431 $45,222 Add: Non-interest income8,507 8,955 Less: Non-interest expense41,038 37,424 Add: merger costs1,529 — Adjusted PPNR (non-GAAP)$17,429 $16,753 (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