Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 4

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 4
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)179 — Stock-based compensation expense883 883 Purchase of treasury stock for the purpose of tax withholding related to restricted stock award vesting (7,307 shares)(156)(156)Purchase of treasury stock for the purpose of tax withholding related to performance based restricted stock award vesting (2,518 shares)(54)(54)Preferred cash dividend declared(1,075)(1,075)Cash dividends declared ($0.175 per common share)(3,680)(3,680)Balance, March 31, 2024$57,785 $218,224 $353,780 $(3,946)$(47,203)$578,640 

See Notes to Condensed Consolidated Financial Statements

4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

Dollars in thousands

Three Months Ended March 31, 20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net income$11,481 $12,600 Adjustments to reconcile net income to net cash provided by operations:Provision for credit loss expense1,556 1,320 Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights2,059 1,898 Accretion of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income(1,605)(1,395)Net amortization of deferred costs on borrowings76 76 Net realized and unrealized (gains) losses on equity securities249 (191)Gain on sale of loans held for sale(34)(153)Net (gains) losses on dispositions of premises and equipment and foreclosed assets(13)45 Proceeds from sale of loans receivable2,750 5,024 Origination of loans held for sale(2,848)(5,491)Income on bank owned life insurance(760)(767)Restricted stock compensation expense455 883 Change in:Accrued interest receivable and other assets(667)(3,453)Accrued interest payable, lease liabilities, and other liabilities(1,100)2,064 NET CASH PROVIDED BY OPERATING ACTIVITIES11,599 12,460 CASH FLOWS FROM INVESTING ACTIVITIES:Proceeds from maturities, prepayments and calls of available-for-sale securities19,608