Company: CCNE
Filing Date: 2025-04-15
Form Type: 425
Source: 0001193125-25-080836
Chunk: 4

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-04-15
Form: 425
Chunk 4
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 of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Corporation’s management believes that investors may use these non- GAAP measures to analyze the Corporation’s financial performance without the impact of unusual items or events that may obscure trends in the Corporation’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. Non-GAAP measures reflected within the presentation include: Tangible common equity/tangible assets, Adjusted Net Income Available to Common Stockholders, Adjusted Diluted Earnings per Common Share, Net Interest Margin (fully tax equivalent basis), Adjusted Return on Average Assets, Adjusted Return on Average Equity, Efficiency Ratio (fully tax equivalent basis), and Adjusted Efficiency Ratio (fully tax equivalent basis). 2

2024 HIGHLIGHTS AT A GLANCE § Net income available to common shareholders (“earnings”) was $50.3 million, or $2.39 per diluted share, for the twelve months ended December 31, 2024, compared to earnings of $53.7 million, or $2.55 per diluted share, for the twelve months ended December 31, 2023. § The decrease in earnings and diluted earnings per share comparing the twelve months ended December 31, 2024 to the twelve months ended December 31, 2023 was primarily due to the rise in deposit costs year over year. § The Corporation continued to focus on executing our core growth strategies: § At December 31, 2024, loans totaled $4.6 billion, with an increase of $140.5 million, or 3.14%, compared to the balance as of December 31, 2023. § At December 31, 2024, total deposits were $5.4 billion, reflecting an increase of $372.6 million, or 7.45%, compared to total deposits measured as of December 31, 2023. § The Corporation's Return on Average Assets and Return on Average Equity of 0.93% and 9.21%, respectively, were lower for the twelve months ended December 31, 2024, compared to the same measures of 1.04% and 10