Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 281

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 281
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 There have been no other significant changes in the application of accounting policies since December 31, 2024.

73

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 EndedSix Months EndedJune 30,June 30,2025202420252024Calculation of merger costs, net of tax (non-GAAP):Merger costs - non deductible$357 $— $1,684 $— Merger costs - deductible— — 202 — Statutory federal tax rate21 %21 %21 %21 %Tax benefit of merger costs (non-GAAP)— — 42 — Merger costs, net of tax (non-GAAP)— — 160 — Merger costs, net of tax (non-GAAP)$357 $— $1,844 $— 

(unaudited)(unaudited)Three Months EndedSix Months EndedJune 30,June 30,2025202420252024Calculation of net income available to common (GAAP):Net income$13,956 $12,957 $25,437 $25,557 Less: preferred stock dividends1,075 1,075 2,150 2,150 Net income available to common shareholders$12,881 $11,882 $23,287 $23,407 Adjusted calculation of net income available to common (non-GAAP):Net income available to common shareholders$12,881 $11,882 $23,287 $23,407 Add: Merger costs, net of tax (non-GAAP)357 — 1,844 — Adjusted net income available to common shareholders (non-GAAP):$13,238 $11,882 $25,131 $23,407 

74

NON-GAAP FINANCIAL MEASURES (continued)

(unaudited)(unaudited)June 30,December 31,20252024Calculation of tangible book value per common share and tangible common equity/tangible assets (non-GAAP):Shareholders' equity$637,281 $610,695 Less: preferred equity57,785 57,785 Common shareholders' equity579,496 552,910 Less: goodwill and other intang