CNB FINANCIAL CORP/PA

Listed Company

CCNEPCIK 0000736772NasdaqAcceleratedState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$66.13M

Total Assets

$8.40B

Equity

$872.13M

Shares Out

29.64M

Op. Cash Flow

$64.98M

Business

CNB FINANCIAL CORP/PA is a financial holding company that controls CNB Bank and provides banking and related financial services. It offers checking, savings and time deposit accounts; real estate, commercial, industrial, residential and consumer loans; private banking, wealth and asset management; securities investments; insurance products; and small-balance unsecured and secured loans. Key subsidiaries and divisions include CNB Bank (with ERIEBANK, FCBank, BankOnBuffalo, Ridge View Bank and Impressia Bank), CNB Securities, CNB Insurance Agency, CNB Risk Management and Holiday Financial Services. The company distributes services through full-service branches, a mobile branch, drive-up offices and online channels in Pennsylvania, Ohio, New York and Virginia.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	351	294	273	194	158
Taxable	40	31	19	17	12
Tax-exempt	603,000	636,000	724,000	871,000	1
Dividends	820,000	375,000	470,000	157,000	259,000
Total interest and dividend income	392	325	294	214	180
Deposits	141	133	98	20	15
Borrowed funds and finance lease liabilities	5	11,000	2	389,000	23,000
Subordinated debentures (includes $0, $0, and $(151) accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements, respectively)	4	4	4	4	5
Total interest expense	150	138	104	24	—
NET INTEREST INCOME	242	187	190	190	160
PROVISION FOR CREDIT LOSS EXPENSE	9	9	6	9	6
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSS EXPENSE	233	178	184	181	154
Service charges on deposit accounts	8	7	7	7	6
Other service charges and fees	2	3	3	3	2
Wealth and asset management fees	10	8	7	7	7
Net realized gains on available-for-sale securities (includes $1,168, $74, and $52 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities, respectively)	1	74,000	52,000	651,000	783,000
Net realized and unrealized gains (losses) on equity securities	1	754,000	−387,000	—	—
Mortgage banking	756,000	673,000	676,000	1	3
Bank owned life insurance	5	3	3	3	3
Card processing and interchange income	9	9	8	8	8
Other non-interest income	3	8	4	5	3
Total non-interest income	40	39	33	35	33
Compensation and benefits (includes $(257), $(168), and $(174) accumulated other comprehensive income reclassifications for net amortization of actuarial (gains) losses, respectively)	90	75	71	71	61
Net occupancy expense	18	15	15	13	12
Amortization of core deposit intangible	2	73,000	84,000	—	—
Technology expense	24	22	20	17	12
State and local taxes	5	5	4	4	4
Legal, professional and examination fees	4	4	4	4	4
Advertising	3	3	3	3	2
FDIC insurance	4	4	4	3	3
Card processing and interchange expenses	5	5	5	5	4
Other non-interest expenses	22	19	19	17	15
Merger and integration costs	14	0	0	—	—
Total non-interest expenses	191	150	145	138	116
INCOME BEFORE INCOME TAXES	82	67	72	78	71
INCOME TAX EXPENSE (includes $299, $51, and $79 income tax expense reclassification items, respectively)	16	13	14	15	13
NET INCOME	66	55	58	63	58
PREFERRED STOCK DIVIDENDS	4	4	4	4	4
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	62	50	54	59	53
Basic Earnings Per Common Share (in dollars per share)	2.5	2.39	2.56	3.26	3.16
Diluted Earnings Per Common Share (in dollars per share)	2.49	2.39	2.55	3.26	3.16
Cash dividends declared (in dollars per share)	0.72	0.71	0.7	0.7	0.69
Net change in unrealized gains on available-for-sale securities, net of reclassification and tax	14	2	6	−54	−16
Amortization of unrealized gains from held-to-maturity securities, net of tax	475,000	545,000	591,000	875,000	0
Change in actuarial gains (losses), for post-employment health care plan, net of amortization and tax	−506,000	245,000	−139,000	150,000	275,000
Change in actuarial losses, for pension plan, net of tax	−565,000	0	0	—	—
Change in fair value of interest rate swap agreements designated as a cash flow hedge, net of interest and tax	0	0	−119,000	425,000	301,000
Total other comprehensive income	13	3	6	−52	−15
COMPREHENSIVE INCOME	79	57	64	11	42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	78	64	55	59	42
Interest-bearing deposits with Federal Reserve	442	375	164	43	684
Interest-bearing deposits with other financial institutions	8	4	3	4	5
Total cash and cash equivalents	528	443	222	106	732
Debt securities available-for-sale, at fair value (amortized cost of $618,912 as of December 31, 2025 and $520,223 as of December 31, 2024)	584	469	342	371	697
Debt securities held-to-maturity, at amortized cost (fair value $229,694 as of December 31, 2025 and $282,970, as of December 31, 2024)	242	306	389	405	0
Equity securities	11	10	9	10	10
Loans held for sale	3	762,000	675,000	231,000	849,000
Loans receivable	6,494	4,609	4,468	4,275	3,635
Less: allowance for credit losses	−67	−47	−46	−43	−38
Net loans receivable	6,427	4,562	4,423	4,232	3,597
FHLB and other restricted stock holdings and investments	59	41	30	31	23
Premises and equipment, net	90	76	74	—	—
Operating & finance lease right-of-use assets	58	53	36	—	—
Bank owned life insurance	160	118	114	112	100
Mortgage servicing rights	3	1	2	2	2
Goodwill and other intangible assets	89	44	44	44	—
Core deposit intangible, net	34	206,000	280,000	—	—
Accrued interest receivable and other assets	111	69	68	62	41
Total Assets	8,396	6,192	5,753	5,475	5,329
Noninterest-bearing demand deposits	1,092	820	729	898	—
Interest-bearing demand deposits	1,015	707	803	1,007	1,079
Savings	3,823	3,122	2,960	2,270	2,458
Certificates of deposit	1,098	723	506	446	386
Total deposits	7,027	5,371	4,999	4,622	4,716
Short-term borrowings	164	0	0	132	0
Deposits held for sale	88	0	—	—	—
Subordinated debentures	21	21	21	21	21
Subordinated notes, net of unamortized issuance costs	85	85	84	84	84
Operating lease liabilities	44	40	38	34	21
Accrued interest payable and other liabilities	96	64	40	51	45
Total liabilities	7,524	5,581	5,182	4,944	4,886
Commitments and contingent liabilities	—	—	—	—	—
Preferred stock, Series A non-cumulative perpetual, No par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at December 31, 2025 and 2024	58	58	58	58	58
Common stock, no par value; 50,000,000 shares authorized; Shares issued 29,594,933 at December 31, 2025 and 21,235,503 at December 31, 2024	0	0	0	0	0
Additional paid in capital	423	220	220	222	127
Retained earnings	425	381	346	307	261
Treasury stock, at cost (121,581 shares at December 31, 2025 and 247,511 shares at December 31, 2024)	−3	−5	−7	−3	−2
Accumulated other comprehensive loss	−31	−44	−46	−53	−394,000
Total shareholders equity	872	611	571	531	443
Total Liabilities and Shareholders Equity	8,396	6,192	5,753	5,475	5,329

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights	11	8	8	7	6
Net accretion of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income	−13	−5	−3	−3	−2
Net amortization of deferred costs on borrowings	304,000	303,000	303,000	303,000	177,000
Deferred tax (benefit) expense	5	−1	1	−2	−2
Losses (gains) on sale of loans held for sale	1	−770,000	−447,000	−1	−3
Net (gains) losses on dispositions of premises and equipment and foreclosed assets	−160,000	53,000	27,000	−170,000	230,000
Proceeds from sale of loans receivable	30	28	16	29	95
Origination of loans held for sale	−31	−28	−18	−34	−95
Income on bank owned life insurance	−5	−3	−3	−3	−2
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value)	1	0	0	−883,000	−454,000
Restricted stock compensation expense	3	2	2	1	1
Stock-based contribution expense	0	0	55,000	84,000	75,000
Accrued interest receivable and other assets	2	389,000	−6	−19	−1
Accrued interest payable, lease liabilities, and other liabilities	−12	7	−14	20	8
NET CASH PROVIDED BY OPERATING ACTIVITIES	65	72	47	64	59
Proceeds from maturities, prepayments and calls of available-for-sale securities	126	65	43	70	171
Proceeds from sales of available-for-sale securities	341	806,000	13	22	34
Proceeds from sale of equity securities	1	0	296,000	—	—
Purchase of available-for-sale securities	−336	−191	−19	−48	−341
Proceeds from maturities, prepayments and calls of held-to-maturity securities	65	84	17	24	0
Purchase of equity securities	−311,000	−401,000	−369,000	−398,000	−407,000
Proceeds from loans held for sale previously classified as portfolio loans	71	11	5	—	—
Net increase in loans receivable	−276	−155	−198	—	—
Proceeds from death benefit of bank owned life insurance policies	2	0	0	3	1
Net cash from business combinations	27	0	0	0	0
Redemption (purchase) of FHLB, other equity, and restricted equity interests	6	−11	704,000	−7	−2
Purchase of premises and equipment	−6	−16	−11	−12	−6
Proceeds from the sale of premises and equipment and foreclosed assets	6	9	52,000	496,000	746,000
Purchase of other intangibles	0	0	−125,000	0	0
NET CASH USED BY INVESTING ACTIVITIES	28	−203	−149	−805	−410
Net increase in checking, money market and savings accounts	318	156	316	−153	624
Net (decrease) increase in certificates of deposit	−30	216	60	60	−90
Purchase of treasury stock	−333,000	−643,000	−7	−2	−1
Cash dividends paid, common stock	−18	−15	−15	−13	−12
Cash dividends paid, preferred stock	−4	−4	−4	−4	−4
Net decrease in short-term borrowings	−273	0	−132	132	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	−8	353	218	115	550
NET INCREASE IN CASH AND CASH EQUIVALENTS	85	221	116	−626	200
Interest	150	134	102	27	20
Income taxes	11	13	12	17	12
Transfers to other real estate owned	505,000	1	874,000	785,000	1
Transfers from loans held for sale to loans held for investment	317,000	1	2	—	—
Transfers from loans held for investment to loans held for sale	385,000	438,000	166,000	—	—
Grant of restricted stock awards from treasury stock	3	3	3	—	—
Grant of performance based restricted stock awards from treasury stock	167,000	179,000	111,000	—	—
Restricted stock forfeiture	409,000	360,000	134,000	36,000	64,000
Contribution of stock from treasury stock	0	0	81,000	44,000	81,000
Lease liabilities arising from obtaining operating right-of-use assets	1	4	5	13	—
Lease liabilities arising from obtaining finance right-of-use assets	3	15	0	0	3

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