CNB Financial(US:CCNE)2026-01-27 21:16Financial Performance - Net income for Q4 2025 was $32.6 million, or $1.10 per diluted share, a significant increase from $6.0 million, or $0.22 per diluted share in Q3 2025, and $14.0 million, or $0.66 per diluted share in Q4 2024[4] - Adjusted earnings for Q4 2025, excluding merger-related expenses, were $25.8 million, or $0.87 per diluted share, reflecting a 14.74% increase from $22.5 million, or $0.82 per diluted share in Q3 2025[7] - For the full year 2025, adjusted earnings were $73.4 million, or $2.95 per diluted share, a 46.06% increase from $50.3 million, or $2.39 per diluted share in 2024[7] - Net income available to common shareholders for Q4 2025 was $32,573,000, a significant increase from $5,969,000 in Q3 2025, representing a growth of 444%[41] - Net income available to common shareholders for the twelve months ended December 31, 2025, was $61,829,000, representing a 22.9% increase from $50,273,000 in the previous year[34] Loan and Deposit Growth - Total loans reached $6.4 billion as of December 31, 2025, with organic loan growth of $26.6 million, or 0.42% (1.65% annualized) compared to Q3 2025[4] - Total deposits were $7.0 billion at December 31, 2025, with organic deposit growth of $122.1 million, or 2.21% (8.75% annualized) from Q3 2025[4] - The increase in loans for the full year was primarily driven by growth in the Ridge View Bank and BankOnBuffalo markets, with a total organic loan growth of $218.8 million, or 4.83% compared to December 31, 2024[7] - Total loans and loans held for sale increased to $6,489,706,000 for the three months ended December 31, 2025, up 9.3% from $5,971,441,000 in the previous quarter[35] - Total deposits as of December 31, 2025, reached $7,027,109,000, up from $6,900,267,000 in Q3 2025, indicating a growth of 1.84%[42] Asset Quality - Total nonperforming assets were approximately $42.2 million, or 0.50% of total assets, as of December 31, 2025, slightly up from $40.4 million, or 0.49% of total assets in Q3 2025[4] - Net loan charge-offs for the three months ended December 31, 2025, were $1.5 million, or 0.09% of average total loans, compared to $2.1 million, or 0.19%, for the same period in 2024[9] - The allowance for credit losses as a percentage of total loans was 1.03% as of December 31, 2025, compared to 1.05% as of September 30, 2025[27] - The provision for credit losses reflected a net reversal of $15.5 million for the three months ended December 31, 2025, compared to an expense of $18.5 million for the previous quarter[27] - The total nonperforming loans decreased to $39,887 thousand from $36,099 thousand in the previous quarter, indicating improved asset quality[37] Revenue and Income - Total revenue for the year ended December 31, 2025, was $282.2 million, an increase of 24.5% compared to $226.6 million for the year ended December 31, 2024[21] - Net interest income for the year ended December 31, 2025, was $242.0 million, reflecting a 29.11% increase from $187.5 million for the year ended December 31, 2024[21] - Total non-interest income for the year ended December 31, 2025, was $40.2 million, a slight increase from $39.1 million for the year ended December 31, 2024[21] - The yield on earning assets was 5.90% for the year ended December 31, 2025, an increase of 2 basis points from December 31, 2024[21] - Interest income for Q4 2025 was $115,550,000, compared to $108,645,000 in Q3 2025 and $83,678,000 in Q4 2024, showing a positive trend in revenue generation[44] Efficiency and Ratios - The efficiency ratio was 69.55% for the three months ended December 31, 2025, compared to 64.56% for the three months ended September 30, 2025[20] - The annualized return on average equity for the three months ended December 31, 2025, was 15.58%, up from 12.05% for the three months ended September 30, 2025[20] - The adjusted efficiency ratio (fully tax equivalent basis) improved to 58.80% for the three months ended December 31, 2025, from 57.67% in September 2025[46] - Return on average assets (GAAP) for the three months ended December 31, 2025, was 1.61%, up from 0.36% in the previous quarter[48] - The company reported a net interest spread of 3.32%, an increase from 3.13% in the previous quarter, highlighting improved efficiency in interest income generation[39] Shareholder Value - Book value per common share increased to $27.63 at December 31, 2025, from $26.68 at September 30, 2025, reflecting a 2.64% increase[5] - Cash dividends per common share remained stable at $0.18 for Q4 2025, consistent with the previous quarters[41] - The dividend payout ratio for Q4 2025 was 16%, a decrease from 82% in Q3 2025, indicating a more conservative approach to dividend distribution[41] - Shareholders' equity grew to $723,241 thousand, compared to $592,550 thousand in 2024, representing a 22.1% increase[40] - Tangible common equity reached $692,137 thousand in December 2025, compared to $657,900 thousand in September 2025 and $508,830 thousand in December 2024[45]