Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 273

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 273
---
81 %$168,675 5.85 %$158,988 Interest expense/Interest-bearing liabilities2.90 67,522 3.10 67,618 Net interest spread2.91 %$101,153 2.75 %$91,370 Interest income/Earning assets5.81 %$168,675 5.85 %$158,988 Interest expense/Earning assets2.33 67,522 2.49 67,618 Net interest margin (fully tax-equivalent)3.48 %$101,153 3.36 %$91,370 

(1) Includes unamortized discounts and premiums.

(2) Average yields are stated on a fully taxable equivalent basis (calculated using statutory rates of 21%) resulting from tax-free municipal securities in the investment portfolio and tax-free municipal loans in the commercial loan portfolio. The taxable equivalent adjustment to net interest income for the six months ended June 30, 2025 and 2024 was $525 thousand and $431 thousand, respectively.

(3) Average loans receivable outstanding includes the average balance outstanding of all nonaccrual loans. Loans receivable consist of the average of total loans receivable less average unearned income. In addition, loans receivable interest income consists of loans receivable fees, including PPP deferred processing fees.

(4) Average balance is computed using the fair value of AFS securities and amortized cost of HTM securities. Average yield has been computed using amortized cost average balance for AFS and HTM securities. The adjustment to the average balance for securities in the calculation of average yield for the six months ended June 30, 2025 and 2024 was $(45.3) million and $(57.2) million, respectively.

67

VOLUME ANALYSIS OF CHANGES IN NET INTEREST INCOME

The following table presents the change in net interest income for the three months ended June 30, 2025 and 2024:

Net Interest Income Rate-Volume VarianceFor Three Months Ended June 30, 2025 over (under) June 30, 2024 Due to Change In (1)VolumeRateNetAssetsSecurities:Taxable$352 $1,403 $1,755 Tax-exempt (2)(7)3 (4)Equity securities (2)10 (5)5 Total securities355