Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 90

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 90
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, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized in the condensed consolidated balance sheets. For further information, see Note 9, "Off-Balance Sheet Commitments and Contingencies," to the condensed consolidated financial statements.

CRITICAL ACCOUNTING POLICIES

The Corporation’s accounting and reporting policies are in accordance with GAAP and conform to general practices within the financial services industry. Accounting and reporting practices for the allowance for credit losses and the fair value of assets acquired and liabilities assumed in connection with business combinations, including the associated goodwill and intangibles that was recorded, required the use of material estimates. Application of assumptions different than those used by management could result in material changes in the Corporation’s financial position or results of operations. Note 1, "Summary of Significant Accounting Policies," and Note 3, "Loans Receivable and Allowance for Credit Losses," of the 2024 Form 10-K provide additional detail with regard to the Corporation’s accounting for the allowance for credit losses and loans receivable. There have been no other significant changes in the application of accounting policies since December 31, 2024.

NON-GAAP FINANCIAL MEASURES

The following tables reconcile the non-GAAP financial measures to their most directly comparable measures under GAAP.

(unaudited)Three Months EndedMarch 31,20252024Calculation of merger costs, net of tax (non-GAAP):Merger costs - non deductible$1,327 $— Merger costs - deductible202 — Statutory federal tax rate21 %21 %Tax benefit of merger costs (non-GAAP)42 — Merger costs, net of tax (non-GAAP)160 — Merger costs, net of tax (non-GAAP)$1,487 $— 

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(unaudited)Three Months EndedMarch 31,20252024Calculation of net income available to common (GAAP):Net income$11,481 $12,600 Less: preferred stock dividends1,075 1,075 Net income available to common shareholders$10,406 $11,525 Adjusted calculation of net income available to common (non-GAAP):Net income available to common shareholders$10,406 $11,525 Add: Merger costs, net of tax (non-GAAP)1,487 — Adjusted net income available to common shareholders (non-GAAP):