Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 253

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 253
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-GAAP):Net income$7,045 $13,954 $32,482 $39,511 Add: merger transaction related expenses, net of tax (non-GAAP)16,558 — 18,326 — Adjusted net income (non-GAAP)$23,603 $13,954 $50,808 $39,511 Average shareholders' equity$776,976 $597,984 $676,058 $586,017 Adjusted return on average equity (non-GAAP) (annualized)12.05 %9.28 %10.05 %9.01 %Adjusted calculation of return on average tangible common equity (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 common shareholders$22,527 $12,878 $47,582 $36,285 Average tangible common shareholders' equity (non-GAAP)$611,364 $496,091 $552,719 $484,105 Adjusted return on average tangible common equity (non-GAAP) (annualized)14.62 %10.33 %11.51 %10.01 %

September 30, 2025December 31, 2025Adjusted calculation of loans (non-GAAP):Loans$6,396,344 $4,529,074 Less: ESSA acquired loans, net of estimated purchase accounting fair value adjustments (non-GAAP)(1,651,056)— Adjusted loans (non-GAAP)$4,745,288 $4,529,074 

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ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The disclosures set forth in this item are qualified by Item 1A. Risk Factors and the section captioned "Forward-Looking Statements and Factors that Could Affect Future Results" included in this report, and other cautionary statements set forth elsewhere in this report.

As a financial institution, the Corporation's primary source of market risk exposure is interest rate risk, which influences fluctuations in the Corporation's future earnings due to changes in interest rates. This risk is closely correlated to the repricing characteristics of the Corporation's