While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find s ...

8 Table of Contents Table of Contents ITEM 1A. RISK FACTORS Table of Contents In an extreme situation, it is possible that the capitalization of an FHLB, including the FHLB of Pittsburgh, could be substantially diminished or reduced to zero. Consequently, given that there is no trading market for the Bank's FHLB common stock, the Corporation's management believes that there is a risk that the Corporation's investment could be deemed impaired at some time in the future. If this occurs, it may adversely affec ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.Zacks has developed the innov ...

CLEARFIELD, Pa., Feb. 13, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (NASDAQ:CCNE) declared a quarterly cash dividend of $0.175 per share of common stock payable on March 15, 2024 to common stock shareholders of record as of March 1, 2024. CNB Financial Corporation is a financial holding company with consolidated assets of approximately $5.8 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service ...

CLEARFIELD, Pa., Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (NASDAQ:CCNE) (the "Corporation") has announced the declaration of a quarterly cash dividend of $0.4453125 per depositary share (NASDAQ:CCNEP), resulting from the Corporation's declaration of a quarterly cash dividend of $17.8125 per share on its Series A Preferred Stock. The dividend is payable on March 1, 2024, to holders of record as of February 16, 2024. CNB Financial Corporation is a financial holding ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to fin ...

CNB Financial (CCNE) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.81%. A quarter ago, it was expected that this bank holding company would post earnings of $0.56 per share when it actually produced earnings of $0.60, delivering a surprise of 7.14%.Over the last four quarters, th ...

UNITED STATES Securities registered pursuant to Section 12(b) of the Act: Title of Class Trading Symbol(s) Name of each exchange on which registered Common Stock, no par value CCNE The NASDAQ Stock Market LLC Depositary Shares (each representing a 1/40th interest in a share of 7.125% Series A NonCumulative, perpetual preferred stock) CCNEP The NASDAQ Stock Market LLC FORM 10-Q For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

[PART I. FINANCIAL INFORMATION](index=8&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section covers the Corporation's unaudited condensed consolidated financial statements, management's analysis, market risk, and internal controls [Financial Statements](index=8&type=section&id=ITEM%201%20%E2%80%93%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including balance sheets, income statements, cash flows, and detailed accounting notes Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$5,663,600** | **$5,475,179** | | Net Loans Receivable | $4,419,293 | $4,231,742 | | Total Deposits | $4,933,075 | $4,622,437 | | **Total Liabilities** | **$5,113,966** | **$4,944,417** | | **Total Shareholders' Equity** | **$549,634** | **$530,762** | Condensed Consolidated Statements of Income Highlights (in thousands) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Interest Income** | **$47,260** | **$46,301** | **$94,899** | **$88,918** | | Provision for Credit Loss Expense | $2,405 | $2,905 | $3,695 | $4,548 | | Non-Interest Income | $8,293 | $8,146 | $16,335 | $17,800 | | Non-Interest Expenses | $35,988 | $32,609 | $69,978 | $64,501 | | **Net Income** | **$13,827** | **$15,438** | **$30,316** | **$30,683** | [Note 1. Summary of Significant Accounting Policies](index=12&type=section&id=Note%201.%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the basis of presentation for condensed consolidated financial statements under U.S. GAAP and SEC regulations, confirming a single reportable segment - The financial statements are prepared in accordance with U.S. GAAP, and certain disclosures have been condensed as permitted for interim reports[389](index=389&type=chunk) - The Corporation's management considers all financial services operations to be aggregated into one reportable operating segment[392](index=392&type=chunk) [Note 2. Recent Accounting Pronouncements](index=13&type=section&id=Note%202.%20Recent%20Accounting%20Pronouncements) This note discusses the adoption of new accounting standards, including ASU 2022-02, none of which had a material impact on the financial statements - Effective January 1, 2023, the Corporation adopted ASU 2022-02, which eliminated the separate recognition and measurement guidance for Troubled Debt Restructurings (TDRs), with the adoption having **no material impact**[424](index=424&type=chunk) - During the six months ended June 30, 2023, a qualitative assessment of goodwill was performed due to a decrease in the Corporation's stock price, indicating **no impairment**[393](index=393&type=chunk) [Note 3. Securities](index=14&type=section&id=Note%203.%20Securities) This note details the securities portfolio, comprising AFS and HTM debt securities, with no credit-related impairment identified as of June 30, 2023 Securities Portfolio Summary (in thousands) | Category | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Available-for-Sale (Fair Value)** | **$353,136** | **$371,409** | | Amortized Cost | $412,536 | $432,992 | | Gross Unrealized Losses | ($59,417) | ($61,607) | | **Held-to-Maturity (Amortized Cost)** | **$394,238** | **$404,765** | | Fair Value | $358,806 | $367,388 | | Gross Unrealized Losses | ($35,432) | ($37,377) | - Management performed an assessment and believes there is **no credit-related impairment** of its debt securities at June 30, 2023, and December 31, 2022[22](index=22&type=chunk) [Note 4. Loans Receivable and Allowance for Credit Losses](index=18&type=section&id=Note%204.%20Loans%20Receivable%20and%20Allowance%20for%20Credit%20Losses) This note provides a comprehensive overview of the loan portfolio, which grew to **$4.46 billion**, and the allowance for credit losses, which increased to **$45.5 million** Loan Portfolio Composition (in thousands) | Loan Category | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Commercial & Industrial | $778,704 | $791,911 | | Non-owner occupied, nonfarm nonresidential | $881,550 | $795,315 | | Residential Mortgages (first liens) | $967,807 | $942,531 | | Other construction loans | $451,043 | $446,685 | | Other | $1,385,730 | $1,298,796 | | **Total Loans Receivable** | **$4,464,834** | **$4,275,178** | Allowance for Credit Losses Roll-Forward - Six Months Ended June 30, 2023 (in thousands) | | Amount | | :--- | :--- | | Beginning Allowance (Dec 31, 2022) | $43,436 | | Charge-offs | ($1,820) | | Recoveries | $345 | | Provision for Credit Losses | $3,580 | | **Ending Allowance (June 30, 2023)** | **$45,541** | - As of June 30, 2023, nonaccrual loans totaled **$21.2 million**, and loans past due 90+ days and still accruing were **$1.4 million**[474](index=474&type=chunk) [Note 5. Leases](index=34&type=section&id=Note%205.%20Leases) This note details the Corporation's lease costs, weighted-average remaining lease terms, and discount rates for operating and finance leases Lease Metrics | Metric | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Weighted-average remaining lease term (years)** | | | | Operating leases | 23.3 | 23.9 | | Finance leases | 3.5 | 4.0 | | **Weighted-average discount rate** | | | | Operating leases | 4.05% | 3.83% | | Finance leases | 4.49% | 4.49% | [Note 6. Deposits](index=35&type=section&id=Note%206.%20Deposits) This note details the Corporation's deposit base, highlighting significant increases in brokered and reciprocal deposits as of June 30, 2023 - Brokered deposits increased significantly to **$179.4 million** as of June 30, 2023, from **$24.1 million** at December 31, 2022, while reciprocal deposits also grew substantially to **$463.4 million** from **$4.6 million** over the same period[83](index=83&type=chunk) [Note 7. Borrowings](index=36&type=section&id=Note%207.%20Borrowings) This note details the Corporation's borrowing facilities, including significant available capacity from FHLB and the Federal Reserve's Borrower-in-Custody program - The Bank has access to significant liquidity sources, including a **$250.0 million** line-of-credit with the FHLB and a borrowing capacity of **$169.3 million** through the Federal Reserve's Borrower-in-Custody program as of June 30, 2023[52](index=52&type=chunk)[86](index=86&type=chunk) [Note 8. Related Party Transactions](index=37&type=section&id=Note%208.%20Related%20Party%20Transactions) This note discloses related party loans to officers, directors, and affiliates, totaling **$40.5 million** at June 30, 2023, made on ordinary business terms Loans to Related Parties - Six Months Ended June 30, 2023 (in thousands) | | Amount | | :--- | :--- | | Beginning Balance | $44,998 | | New loans and advances | $2,706 | | Repayments | ($6,694) | | **Ending Balance** | **$40,519** | [Note 9. Off-Balance Sheet Commitments and Contingencies](index=38&type=section&id=Note%209.%20Off-Balance%20Sheet%20Commitments%20and%20Contingencies) This note details off-balance sheet commitments, including credit extensions and standby letters of credit, with an allowance for credit losses of **$718 thousand** Allowance for Credit Losses on Unfunded Loan Commitments (in thousands) | Period | Beginning Balance | Provision | Ending Balance | | :--- | :--- | :--- | :--- | | **Three Months Ended June 30, 2023** | $662 | $56 | $718 | | **Six Months Ended June 30, 2023** | $603 | $115 | $718 | [Note 10. Stock Compensation](index=39&type=section&id=Note%2010.%20Stock%20Compensation) This note describes stock-based compensation plans, with **$961 thousand** expense for restricted stock awards and **$2.8 million** unrecognized cost for unvested awards Changes in Time-Based Unvested Restricted Stock Awards (Six Months Ended June 30, 2023) | Category | Shares | Weighted Avg. Grant Date Fair Value | | :--- | :--- | :--- | | Unvested at beginning of period | 69,746 | $25.21 | | Granted | 90,675 | $23.63 | | Forfeited | (2,803) | $24.28 | | Vested | (24,646) | $25.37 | | **Unvested at end of period** | **132,972** | **$24.12** | [Note 11. Earnings Per Common Share](index=40&type=section&id=Note%2011.%20Earnings%20Per%20Common%20Share) This note provides the detailed computation of basic and diluted earnings per common share, with **$1.34** basic EPS and **$1.33** diluted EPS for the six months ended June 30, 2023 Earnings Per Common Share (EPS) | Metric | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Basic EPS** | **$0.61** | **$1.34** | | **Diluted EPS** | **$0.61** | **$1.33** | [Note 12. Derivative Instruments](index=41&type=section&id=Note%2012.%20Derivative%20Instruments) This note details the Corporation's use of derivative instruments, primarily interest rate swaps, for managing interest rate risk and customer loan conversions, not for speculation - The Corporation uses interest rate swaps as cash flow hedges to add stability to interest expense and manage exposure to interest rate risk[544](index=544&type=chunk) - Back-to-back interest rate swaps are used to allow customers to effectively convert a variable-rate loan to a fixed rate, with offsetting contracts that do not impact the Corporation's results of operations[117](index=117&type=chunk) [Note 13. Fair Value](index=43&type=section&id=Note%2013.%20Fair%20Value) This note explains the fair value hierarchy and details assets and liabilities measured at fair value, including **$353.1 million** in AFS securities using Level 2 inputs Assets Measured at Fair Value on a Recurring Basis (June 30, 2023, in thousands) | Asset Category | Level 1 | Level 2 | Level 3 | Total Fair Value | | :--- | :--- | :--- | :--- | :--- | | Securities Available-For-Sale | $0 | $353,136 | $0 | $353,136 | | Equity Securities | $8,567 | $699 | $0 | $9,266 | | Interest Rate Swaps | $0 | $1,458 | $0 | $1,458 | [Note 14. Revenue from Contracts with Customers](index=49&type=section&id=Note%2014.%20Revenue%20from%20Contracts%20with%20Customers) This note disaggregates non-interest income, with key revenue streams including service charges, wealth management fees, and card processing, totaling **$16.3 million** Non-Interest Income Breakdown (in thousands) | Revenue Stream | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Service charges on deposit accounts | $3,708 | $3,528 | | Wealth and asset management fees | $3,734 | $3,586 | | Card processing and interchange income | $4,121 | $3,801 | | Other income | $4,772 | $6,885 | | **Total non-interest income** | **$16,335** | **$17,800** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=50&type=section&id=ITEM%202%20%E2%80%93%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's analysis of the Corporation's financial condition and operating results, covering balance sheet, credit quality, liquidity, capital, and interest rate impacts [Financial Condition](index=52&type=section&id=Financial%20Condition) Total assets grew to **$5.7 billion**, with loans increasing by **$200.8 million** and deposits by **$310.6 million**, while nonperforming assets remained stable at **0.43%** - Loans (excluding PPP and syndicated loans) grew by **$200.8 million**, or **9.8% annualized**, since December 31, 2022, primarily in the Cleveland, Roanoke, and Buffalo expansion markets[176](index=176&type=chunk) - Total deposits increased by **$310.6 million**, or **6.7%**, from December 31, 2022, driven by growth in treasury management, municipal, and institutional deposits[194](index=194&type=chunk) Nonperforming Assets (in thousands) | Metric | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Nonaccrual loans | $21,176 | $20,986 | | **Total nonperforming assets** | **$24,124** | **$23,546** | | Nonperforming assets as a % of total assets | 0.43% | 0.43% | | Allowance for credit losses / Nonaccrual loans | 215.06% | 206.98% | [Liquidity and Capital Resources](index=62&type=section&id=Liquidity%20and%20Capital%20Resources) The Corporation maintains strong liquidity of **$2.3 billion** and capital resources, with all regulatory capital ratios significantly exceeding well-capitalized minimums - Total available liquidity sources, including cash, FHLB, and Federal Reserve borrowing capacity, amounted to approximately **$2.3 billion**, which is **2.4 times** the estimated adjusted uninsured deposit balance[202](index=202&type=chunk)[230](index=230&type=chunk) Regulatory Capital Ratios | Ratio | June 30, 2023 | Well-Capitalized Minimum | | :--- | :--- | :--- | | Total Risk-Based Capital | 15.73% | 10.00% | | Tier 1 Risk-Based Capital | 12.93% | 8.00% | | Common Equity Tier 1 | 11.20% | 6.50% | | Tier 1 Leverage | 10.44% | 5.00% | [Results of Operations - Three Months Ended June 30, 2023 vs 2022](index=69&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Ended%20June%2030%2C%202023%20vs%202022) Q2 2023 net income to common shareholders was **$12.8 million**, with diluted EPS of **$0.61**, reflecting higher deposit costs and a compressed net interest margin of **3.62%** Q2 Performance Comparison | Metric | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Net Income to Common Shareholders | $12.8M | $14.4M | | Diluted EPS | $0.61 | $0.85 | | Net Interest Income | $47.3M | $46.3M | | Net Interest Margin | 3.62% | 3.74% | | Return on Average Equity | 10.07% | 14.55% | [Results of Operations - Six Months Ended June 30, 2023 vs 2022](index=71&type=section&id=Results%20of%20Operations%20-%20Six%20Months%20Ended%20June%2030%2C%202023%20vs%202022) H1 2023 net income to common shareholders was **$28.2 million**, with diluted EPS of **$1.33**, driven by loan growth and higher rates despite increased deposit costs H1 Performance Comparison | Metric | H1 2023 | H1 2022 | | :--- | :--- | :--- | | Net Income to Common Shareholders | $28.2M | $28.5M | | Diluted EPS | $1.33 | $1.69 | | Net Interest Income | $94.9M | $88.9M | | Net Interest Margin | 3.71% | 3.60% | | Return on Average Equity | 11.26% | 14.26% | [Non-GAAP Financial Measures](index=73&type=section&id=Non-GAAP%20Financial%20Measures) This section reconciles non-GAAP financial measures, including tangible book value per share and tangible common equity, to provide further insight into operations Tangible Book Value Per Common Share (Non-GAAP) Reconciliation | Metric (in thousands, except per share) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Shareholders' Equity | $549,634 | $530,762 | | Less: Preferred Equity | ($57,785) | ($57,785) | | Less: Goodwill & Intangibles | ($44,194) | ($44,113) | | **Tangible Common Equity** | **$447,655** | **$428,864** | | Ending Shares Outstanding | 20,997,053 | 21,121,346 | | **Tangible Book Value Per Share** | **$21.32** | **$20.30** | [Quantitative and Qualitative Disclosures about Market Risk](index=76&type=section&id=ITEM%203%20%E2%80%93%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section details the Corporation's primary market risk, interest rate risk, and its impact on net interest income, with all risk levels within policy limits Net Interest Income Sensitivity Analysis (1-Year Horizon) | Interest Rate Change | % Change in Net Interest Income (as of June 30, 2023) | | :--- | :--- | | +300 basis points | (2.1)% | | +200 basis points | 0.1% | | +100 basis points | 2.0% | | -100 basis points | (4.8)% | | -200 basis points | (7.8)% | | -300 basis points | (14.0)% | [Controls and Procedures](index=77&type=section&id=ITEM%204%20%E2%80%93%20Controls%20and%20Procedures) Management concluded that the Corporation's disclosure controls and procedures were effective as of June 30, 2023, with no significant changes in internal control - Management concluded that the Corporation's disclosure controls and procedures are effective to provide reasonable assurance that all material information is recorded and reported within the required time periods[321](index=321&type=chunk) [PART II. OTHER INFORMATION](index=78&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, and other corporate information, including stock repurchases and executive trading plans [Legal Proceedings and Risk Factors](index=78&type=section&id=ITEM%201%20%26%201A%20%E2%80%93%20Legal%20Proceedings%20and%20Risk%20Factors) This section reports no material legal proceedings and introduces a new risk factor concerning the impact of recent bank failures on customer confidence and liquidity - A new risk factor was disclosed regarding the potential adverse effects from recent bank failures in the industry, which have decreased depositor and investor confidence and could impact the Corporation's liquidity and operations[299](index=299&type=chunk)[324](index=324&type=chunk) [Other Information](index=78&type=section&id=ITEM%202%2C%203%2C%204%2C%205%20%26%206%20%E2%80%93%20Other%20Information) This section details the Corporation's stock repurchase plan, including shares repurchased, and confirms no defaults on senior securities or new executive trading plans Share Repurchases for the Three Months Ended June 30, 2023 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2023 | 54,168 | $18.57 | | May 2023 | 72,291 | $17.98 | | June 2023 | 0 | N/A | - The Board of Directors extended the common stock repurchase plan to May 17, 2024, with **273,541 shares** remaining available for repurchase under the program as of June 30, 2023[325](index=325&type=chunk)

Financial Performance - Net income for the three months ended March 31, 2023, was $16,489,000, compared to $15,245,000 for the same period in 2022, representing an increase of approximately 8.15%[10] - The company reported a comprehensive income of $22,328,000 for the three months ended March 31, 2023, compared to a loss of $11,708,000 in the same period of 2022[6] - Net income for Q1 2023 was $16,489,000, an increase from $15,245,000 in Q1 2022, which is a growth of 8%[162] - Basic earnings per common share for Q1 2023 was $0.73, unchanged from Q1 2022, while diluted earnings per share also remained at $0.73[162] - Income before income taxes for Q1 2023 was $20,401,000, compared to $18,736,000 in Q1 2022, which is an increase of 9%[162] Cash Flow and Investments - Net cash provided by operating activities was $4,814,000 for the three months ended March 31, 2023, compared to $3,788,000 for the same period in 2022, reflecting an increase of approximately 27%[10] - The net cash used by investing activities was $16,606,000 for the three months ended March 31, 2023, significantly lower than $300,551,000 in the same period of 2022, indicating a reduction in cash outflow[10] - The total cash and cash equivalents at the end of the period were $188,593,000, down from $404,974,000 at the end of March 31, 2022, representing a decrease of about 53.5%[10] Credit Losses and Loan Quality - The provision for credit loss expense was $1,290,000 for the three months ended March 31, 2023, down from $1,643,000 in the same period of 2022, indicating a decrease of about 21.5%[10] - The allowance for credit losses totaled $20.989 billion, with $13.921 billion in loans receivable not past due, indicating a significant portion of the portfolio remains healthy[36] - The aging of past-due loans receivable showed a total of $12.208 million in past-due loans, with $4.262 billion in total loans receivable, highlighting a past-due ratio of approximately 0.29%[36] - The Corporation reported no modified loans and leases that had a payment default during the three months ended March 31, 2023, suggesting effective risk management practices[39] - The allowance for unfunded commitments included in the provision for credit losses was $59 thousand for the three months ended March 31, 2023, compared to $586 thousand for the same period in 2022, showing a significant decrease of approximately 90%[64] Loan Portfolio and Composition - Total loans receivable increased to $4,301,297 thousand as of March 31, 2023, compared to $4,275,178 thousand on December 31, 2022, reflecting a growth of 0.6%[199] - Residential mortgages secured by first liens accounted for 22.1% of total loans, increasing from 22.0% in the previous quarter, with a total of $949,691 thousand[199] - Non-owner occupied, nonfarm nonresidential properties represented 19.6% of total loans, up from 18.6% in the prior quarter, totaling $841,486 thousand[199] - The total past-due loans for residential mortgages secured by first liens amounted to $3.615 million, with a total of $942.531 million in residential mortgages[36] - Overall, the company demonstrated a stable loan portfolio with slight shifts in specific segments, indicating a cautious but positive outlook for future performance[199] Market and Economic Conditions - The Corporation's stock price and market capitalization decreased due to economic uncertainty and market volatility[186] - The Corporation's financial performance for the three months ended March 31, 2023, is not necessarily indicative of the full year results[183] - The Corporation is evaluating the impact of new accounting standards effective January 1, 2024, which may affect its consolidated financial statements[22] Other Financial Metrics - Total interest and dividend income for Q1 2023 was $66,640,000, a 44% increase from $46,254,000 in Q1 2022[162] - Non-interest income decreased to $8,042,000 in Q1 2023 from $9,654,000 in Q1 2022, representing a decline of 17%[162] - Total non-interest expenses rose to $33,990,000 in Q1 2023, compared to $31,892,000 in Q1 2022, marking a 7% increase[162] - The Corporation's total debt securities at amortized cost and fair value as of March 31, 2023, amounted to $9,416 million, a decrease from $9,615 million as of December 31, 2022[130]