CNB FINANCIAL CORP/PA
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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Dec 31, 2025 · Filed Mar 16, 2026
CCNE$35.78-0.5%Stored close · as of Nov 6, 2026
Contents
APPENDIX A
Reconciliation of Non-GAAP Financial Measures
| Twelve Months Ended | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Calculation of net income available to common (GAAP): | ||
| Net income | $66,131 | $54,575 |
| Less: preferred stock dividends | 4,302 | 4,302 |
| Net income available to common shareholders | $61,829 | $50,273 |
| Adjusted calculation of net income available to common (non-GAAP): | ||
| Net income available to common shareholders | $61,829 | $50,273 |
| Add: merger transaction related expenses, net of tax (non-GAAP) | 11,600 | — |
| Adjusted net income available to common shareholders (non-GAAP) | $73,429 | $50,273 |
| Twelve Months Ended | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Calculation of merger transaction related expenses, net of tax (non-GAAP) (1): | ||
| Merger transaction related expenses - non deductible | $3,234 | $— |
| Merger transaction related expenses - deductible | 10,590 | — |
| Statutory federal tax rate | 21% | 21% |
| Tax benefit (expense) of merger and integration costs (non-GAAP) | 2,224 | — |
| Merger transaction related expenses - deductible, net of tax | 8,366 | — |
| Merger transaction related expenses, net of tax (non-GAAP) | $11,600 | $— |
| (1) Merger transaction related expenses represent legal, advisory, severance, technology conversion, and other expenses directly related to the ESSA acquisition. Management believes exclusion of these non-recurring charges provides more meaningful period-over-period comparisons of operating performance. | ||
| Twelve Months Ended | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Basic earnings per common share computation: | ||
| Net income available to common shareholders | $61,829 | $50,273 |
| Less: net income available to common shareholders allocated to participating securities | 476 | 388 |
| Net income available to common shareholders allocated to common stock | $61,353 | $49,885 |
| Weighted average common shares outstanding, including shares considered participating securities | 24,755 | 20,993 |
| Less: average participating securities | 169 | 155 |
| Weighted average shares | 24,586 | 20,838 |
| Basic earnings per common share | $2.50 | $2.39 |
| Diluted earnings per common share computation: | ||
| Net income available to common shareholders allocated to common stock | $61,353 | $49,885 |
| Weighted average common shares outstanding for basic earnings per common share | 24,586 | 20,838 |
| Add: dilutive effect of stock compensation | 83 | 62 |
| Weighted average shares and dilutive potential common shares | 24,669 | 20,900 |
| Diluted earnings per common share | $2.49 | $2.39 |
| Adjusted basic earnings per common share computation (non-GAAP): | ||
| Net income available to common shareholders | $61,829 | $50,273 |
| Add: merger transaction related expenses, net of tax (non-GAAP) | 11,600 | — |
| Less: net income available to common shareholders allocated to participating securities | 476 | 388 |
| Adjustment to net income available to common shareholders allocated to participating securities for merger transaction related expenses, net of tax (non-GAAP) | 79 | — |
| Adjusted net income available to common shareholders allocated to common stock (non-GAAP) | $72,874 | $49,885 |
| Weighted average common shares outstanding, including shares considered participating securities | 24,755 | 20,993 |
| Less: average participating securities | 169 | 155 |
| Weighted average shares | 24,586 | 20,838 |
| Adjusted basic earnings per common share (non-GAAP) | $2.96 | $2.39 |
| Adjusted diluted earnings per common share computation (non-GAAP): | ||
| Adjusted net income available to common shareholders allocated to common stock (non-GAAP) | $72,874 | $49,885 |
| Weighted average common shares outstanding for basic earnings per common share | 24,586 | 20,838 |
| Add: dilutive effect of stock compensation | 83 | 62 |
| Weighted average shares and dilutive potential common shares | 24,669 | 20,900 |
| Adjusted diluted earnings per common share (non-GAAP) | $2.95 | $2.39 |
| Twelve Months Ended | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Calculation of efficiency ratio: | ||
| Non-interest expense | $190,881 | $150,002 |
| Non-interest income | $40,165 | $39,114 |
| Net interest income | 242,036 | 187,469 |
| Total revenue | $282,201 | $226,583 |
| Efficiency ratio | 67.64% | 66.20% |
| Calculation of efficiency ratio (fully tax equivalent basis) (non-GAAP): | ||
| Non-interest expense | $190,881 | $150,002 |
| Less: core deposit intangible amortization | 1,848 | 73 |
| Adjusted non-interest expense (non-GAAP) | $189,033 | $149,929 |
| Non-interest income | $40,165 | $39,114 |
| Net interest income | $242,036 | $187,469 |
| Less: tax exempt investment and loan income, net of TEFRA (non-GAAP) | 6,551 | 5,635 |
| Add: tax exempt investment and loan income (fully tax equivalent basis) (non-GAAP) | 9,266 | 8,068 |
| Adjusted net interest income (fully tax equivalent basis) (non-GAAP) | 244,751 | 189,902 |
| Adjusted net revenue (fully tax equivalent basis) (non-GAAP) | $284,916 | $229,016 |
| Efficiency ratio (fully tax equivalent basis) (non-GAAP) | 66.35% | 65.47% |
| Adjusted calculation of efficiency ratio (fully tax equivalent basis) (non-GAAP): | ||
| Adjusted non-interest expense (non-GAAP) | $189,033 | $149,929 |
| Less: merger and integration costs (non-GAAP) | 13,824 | — |
| Adjusted non-interest expense (non-GAAP) | $175,209 | $149,929 |
| Adjusted net revenue (fully tax equivalent basis) (non-GAAP) | $284,916 | $229,016 |
| Adjusted efficiency ratio (fully tax equivalent basis) (non-GAAP) | 61.49% | 65.47% |
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Adjusted calculation of loans (non-GAAP): | ||
| Loans | $6,422,942 | $4,529,074 |
| Less: ESSA acquired loans, net of estimated purchase accounting fair value adjustments (non-GAAP) | (1,675,080) | — |
| Adjusted loans (non-GAAP) | $4,747,862 | $4,529,074 |
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Adjusted calculation of total deposits (non-GAAP): | ||
| Total deposits | $7,027,109 | $5,371,364 |
| Add: deposits held for sale (non-GAAP) | 88,119 | — |
| Less: ESSA acquired deposits, net of estimated purchase accounting fair value adjustments (non-GAAP) | (1,455,805) | — |
| Adjusted total deposits (non-GAAP) | $5,659,423 | $5,371,364 |
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