CNB FINANCIAL CORPPA
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 6, 2024
CCNE$35.78-0.5%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets September 30, 2024 (unaudited) and December 31, 2023 (audited)
CONDENSED CONSOLIDATED BALANCE SHEETS
Dollars in thousands, except share data
| (unaudited) | ||
|---|---|---|
| September 30, 2024 | December 31, 2023 | |
| ASSETS | ||
| Cash and cash equivalents due from banks | $75,214 | $54,789 |
| Interest-bearing deposits with Federal Reserve | 281,972 | 164,385 |
| Interest-bearing deposits with other financial institutions | 3,723 | 2,872 |
| Total cash and cash equivalents | 360,909 | 222,046 |
| Debt securities available-for-sale, at fair value (amortized cost of $422,222 and $395,803, respectively) | 378,965 | 341,955 |
| Debt securities held-to-maturity, at amortized cost (fair value of $308,925 and $360,570, respectively) | 328,152 | 388,968 |
| Equity securities | 10,389 | 9,301 |
| Loans held for sale | 768 | 675 |
| Loans receivable | ||
| Syndicated loans | 69,470 | 108,710 |
| Loans | 4,522,438 | 4,359,766 |
| Total loans receivable | 4,591,908 | 4,468,476 |
| Less: allowance for credit losses | (46,644) | (45,832) |
| Net loans receivable | 4,545,264 | 4,422,644 |
| FHLB and other restricted stock holdings and investments | 40,937 | 30,011 |
| Premises and equipment, net | 82,090 | 73,700 |
| Operating lease right-of-use assets | 37,419 | 35,699 |
| Bank owned life insurance | 116,795 | 114,468 |
| Mortgage servicing rights | 1,413 | 1,554 |
| Goodwill and other intangibles | 43,874 | 43,874 |
| Core deposit intangible, net | 223 | 280 |
| Accrued interest receivable and other assets | 67,646 | 67,782 |
| Total Assets | $6,014,844 | $5,752,957 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Noninterest-bearing demand deposits | $841,292 | $728,881 |
| Interest-bearing demand deposits | 681,056 | 803,093 |
| Savings | 3,040,769 | 2,960,282 |
| Certificates of deposit | 653,832 | 506,494 |
| Total deposits | 5,216,949 | 4,998,750 |
| Subordinated debentures | 20,620 | 20,620 |
| Subordinated notes, net of unamortized issuance costs | 84,495 | 84,267 |
| Operating lease liabilities | 39,683 | 37,650 |
| Accrued interest payable and other liabilities | 46,734 | 40,423 |
| Total liabilities | 5,408,481 | 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 September 30, 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 September 30, 2024 and 21,235,503 at December 31, 2023 | — | — |
| Additional paid in capital | 219,304 | 220,495 |
| Retained earnings | 371,086 | 345,935 |
| Treasury stock, at cost (240,773 shares at September 30, 2024 and 339,064 shares December 31, 2023) | (4,516) | (6,890) |
| Accumulated other comprehensive loss | (37,296) | (46,078) |
| Total shareholders’ equity | 606,363 | 571,247 |
| Total Liabilities and Shareholders’ Equity | $6,014,844 | $5,752,957 |
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