CNB FINANCIAL CORPPA
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
CCNE$35.78-0.5%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets March 31, (unaudited) and December 31, 202 (audited)
CONDENSED CONSOLIDATED BALANCE SHEETS
Dollars in thousands, except share data
| (unaudited) | ||
|---|---|---|
| March 31, 2024 | December 31, 2023 | |
| ASSETS | ||
| Cash and cash equivalents due from banks | $38,953 | $54,789 |
| Interest-bearing deposits with Federal Reserve | 259,464 | 164,385 |
| Interest-bearing deposits with other financial institutions | 3,036 | 2,872 |
| Total cash and cash equivalents | 301,453 | 222,046 |
| Debt securities available-for-sale, at fair value (amortized cost of $403,994 and $395,803, respectively) | 348,565 | 341,955 |
| Debt securities held-to-maturity, at amortized cost (fair value $352,138 and $360,570, respectively) | 381,706 | 388,968 |
| Equity securities | 9,581 | 9,301 |
| Loans held for sale | 1,010 | 675 |
| Loans receivable | ||
| PPP loans, net of deferred processing fees | 39 | 48 |
| Syndicated loans | 78,685 | 108,710 |
| Loans | 4,352,674 | 4,359,718 |
| Total loans receivable | 4,431,398 | 4,468,476 |
| Less: allowance for credit losses | (45,832) | (45,832) |
| Net loans receivable | 4,385,566 | 4,422,644 |
| FHLB and other restricted stock holdings and investments | 31,017 | 30,011 |
| Premises and equipment, net | 74,712 | 73,700 |
| Operating lease right-of-use assets | 35,775 | 35,699 |
| Bank owned life insurance | 115,235 | 114,468 |
| Mortgage servicing rights | 1,499 | 1,554 |
| Goodwill and other intangibles | 43,874 | 43,874 |
| Core deposit intangible, net | 260 | 280 |
| Accrued interest receivable and other assets | 71,159 | 67,782 |
| Total Assets | $5,801,412 | $5,752,957 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Noninterest-bearing demand deposits | $749,178 | $728,881 |
| Interest-bearing demand deposits | 719,781 | 803,093 |
| Savings | 3,035,823 | 2,960,282 |
| Certificates of deposit | 532,771 | 506,494 |
| Total deposits | 5,037,553 | 4,998,750 |
| Short-term borrowings | — | — |
| Subordinated debentures | 20,620 | 20,620 |
| Subordinated notes, net of unamortized issuance costs | 84,343 | 84,267 |
| Operating lease liabilities | 37,832 | 37,650 |
| Accrued interest payable and other liabilities | 42,424 | 40,423 |
| Total liabilities | 5,222,772 | 5,181,710 |
| Commitments and contingent liabilities | ||
| Preferred stock, Series A non-cumulative perpetual, $0 par value; $1,000 liquidation preference; shares authorized 60,375;Shares issued 60,375 at March 31, 2024 and December 31, 2023 | 57,785 | 57,785 |
| Common stock, no par value; 50,000,000 shares authorized;Shares issued 21,235,503 at March 31, 2024 and 21,235,503 at December 31, 2023 | — | — |
| Additional paid in capital | 218,224 | 220,495 |
| Retained earnings | 353,780 | 345,935 |
| Treasury stock, at cost (210,808 shares at March 31, 2024 and 339,064 shares December 31, 2023) | (3,946) | (6,890) |
| Accumulated other comprehensive loss | (47,203) | (46,078) |
| Total shareholders’ equity | 578,640 | 571,247 |
| Total Liabilities and Shareholders’ Equity | $5,801,412 | $5,752,957 |
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