Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 275

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 275
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682 (1,462)4,220 Other earning assets3,933 (2,033)1,900 Total Earning Assets$10,316 $(629)$9,687 Liabilities and Shareholders' EquityInterest-Bearing DepositsDemand – interest-bearing$(97)$806 $709 Savings1,322 (7,271)(5,949)Time4,147 661 4,808 Total interest-bearing deposits5,372 (5,804)(432)Short-Term Borrowings— — — Finance lease liabilities347 105 452 Subordinated debentures(1)(115)(116)Total Interest-Bearing Liabilities$5,718 $(5,814)$(96)Change in Net Interest Income$4,598 $5,185 $9,783 

(1) Changes in interest income or expense not arising solely as a result of volume or rate variances are allocated to volume changes.

(2) Changes in interest income on tax-exempt securities and loans receivable are presented on a fully taxable-equivalent basis, using the Corporation's marginal federal income tax rate of 21% for the six months ended June 30, 2025 and June 30, 2024.

(3) Includes loans held for sale.

69

RESULTS OF OPERATIONS

Three Months Ended June 30, 2025 and 2024

OVERVIEW

Net income available to common shareholders ("earnings") was $12.9 million, or $0.61 per diluted share, for the three months ended June 30, 2025. Excluding after-tax merger costs, earnings were $13.2 million, or $0.63 per diluted share, for the three months ended June 30, 2025. The Corporation's earnings for the three months ended June 30, 2024 were $11.9 million, or $0.56 per diluted share. Excluding after-tax merger costs, the increase in diluted earnings per share comparing the three months ended June 30, 2025 to the three months ended June 30, 2024 was primarily due to an increase in net interest income and non-interest income, partially offset by increases in non-interest expense and the provision for credit losses.

Annualized return on average equity was 8.83% for the three months ended June 30, 2025. Excluding after-tax merger costs, annualized return