Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 65

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 65
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036 Undistributed earnings allocated to common stock658 9,031 16,254 24,958 Net earnings allocated to common stock$5,919 $12,777 $29,003 $35,994 Weighted average common shares outstanding, including shares considered participating securities27,388 20,997 23,165 20,994 Less: Average participating securities(209)(155)(166)(162)Weighted average shares27,179 20,842 22,999 20,832 Basic earnings per common share$0.22 $0.61 $1.26 $1.73 Diluted earnings per common share computation:Net earnings allocated to common stock$5,919 $12,777 $29,003 $35,994 Weighted average common shares outstanding for basic earnings per common share27,179 20,842 22,999 20,832 Add: Dilutive effect of stock compensation101 70 76 64 Weighted average shares and dilutive potential common shares27,280 20,912 23,075 20,896 Diluted earnings per common share$0.22 $0.61 $1.26 $1.72 

13.    DERIVATIVE INSTRUMENTS

As of September 30, 2025 and December 31, 2024, no derivatives were designated as fair value hedges or hedges of net investments in foreign operations. Additionally, the Corporation does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges.Derivatives on Behalf of CustomersThe Corporation entered into certain interest rate swap contracts that are not designated as hedging instruments. These derivative contracts relate to transactions in which the Corporation enters into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with another financial institution. In connection with each swap transaction, the Corporation agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on a similar notional amount at a fixed interest rate. Concurrently, the Corporation agrees to pay another financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. The transaction allows the Corporation's customers to effectively convert a variable rate loan to a fixed rate. Because the Corporation acts