Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 245

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 245
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 transaction related expenses - deductible, net of tax14,988 — 15,429 — Merger transaction related expenses, net of tax (non-GAAP)$16,558 $— $18,326 $— 

(1) Merger transaction related expenses represent legal, advisory, severance, technology conversion, day one non-PCD provision expense, and other expenses directly related to the ESSA acquisition. Management believes exclusion of these non-recurring charges provides more meaningful period-over-period comparisons of operating performance. 

(unaudited)(unaudited)Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024Calculation of net income available to common (GAAP):Net income$7,045 $13,954 $32,482 $39,511 Less: preferred stock dividends1,076 1,076 3,226 3,226 Net income available to common shareholders$5,969 $12,878 $29,256 $36,285 Adjusted calculation of net income available to common (non-GAAP):Net income available to common shareholders$5,969 $12,878 $29,256 $36,285 Add: merger transaction related expenses, net of tax (non-GAAP)16,558 — 18,326 — Adjusted net income available to common shareholders (non-GAAP):$22,527 $12,878 $47,582 $36,285 

76

NON-GAAP FINANCIAL MEASURES (continued)

(unaudited)(unaudited)September 30,December 31,20252024Calculation of tangible book value per common share and tangible common equity/tangible assets (non-GAAP):Shareholders' equity$844,185 $610,695 Less: preferred equity57,785 57,785 Common shareholders' equity786,400 552,910 Less: goodwill and other intangibles93,773 43,874 Less: core deposit intangible34,727 206 Tangible common equity (non-GAAP)$657,900 $508,830 Total assets$8,254,319 $6,192,010 Less: goodwill and other intangibles93,773 43,874 Less: core deposit intangible34,727 206 Tangible assets (non-GAAP)$8,