Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 114

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 114
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 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.

75

NON-GAAP FINANCIAL MEASURES

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

(unaudited)(unaudited)Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024Calculation of merger transaction related expenses, net of tax (non-GAAP)(1):Merger transaction related expenses - non deductible$1,570 $— $2,897 $— Merger transaction related expenses - deductible18,972 — 19,531 — Statutory federal tax rate21 %21 %21 %21 %Tax benefit of merger and integration costs and day 1 non-PCD provision expense (non-GAAP)3,984 — 4,102 — Merger 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