Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 105

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 105
---
 deposit costs year over year. |

| • |     | On August 13, 2024, as part of its overall capital management strategy, CNB increased the dividend per common share from $0.175 per quarter to $0.18 per quarter, resulting in a dividend per common share of $0.71 for the full-year 2024, compared to $0.70 for the prior year. |

| • |     | Book value per common share was $26.34 at December 31, 2024, reflecting an increase of $1.77 or 7.20% from $24.57 at December 31, 2023. A key objective for CNB is to target an increase of at least 10% in shareholder value annually. The increase in book value per common share, when comparing December 31, 2024 to December 31, 2023, was primarily due to (i) a $35.4 million increase in retained earnings over the twelve months ended December 31, 2024, (ii) CNB’s repurchase of 23,988 common shares at a weighted average price of $18.38 in the second quarter of 2024, and (iii) a $2.5 million decrease in accumulated other comprehensive loss primarily from the after-tax impact of temporary unrealized valuation changes in CNB’s available-for-sale investment portfolio for the past twelve months. |

| • |     | At December 31, 2024, loans totaled $4.6 billion, with an increase of $140.5 million, or 3.1%, compared to the balance as of December 31, 2023. The year-over-year growth in loans as of December 31, 2024 compared to loans as of December 31, 2023 resulted primarily from growth in commercial and residential real estate loans in CNB’s more recent expansion markets of Cleveland, Ohio and Roanoke, Virginia. Additional growth occurred in commercial and residential real estate loans in the Columbus, Ohio market, commercial industrial loans in the Erie, Pennsylvania market, and residential real estate loans in CNB Bank’s Private Banking division. |

| • |     | At December 31, 2024, total deposits were $5.4 billion, reflecting an increase of $372.6 million, or 7.45%, compared to total deposits measured as of December 31, 2023. The increase in deposit balances compared to December 31,