Financial Performance - Net income for Q4 2025 was $32.6 million, or $1.10 per diluted share, up 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 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] - Adjusted earnings for the full year 2025 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 and $13,988,000 in Q4 2024[43] - Net income available to common shareholders for the twelve months ended December 31, 2025, was $61,829,000, representing a 23.0% increase from $50,273,000 in the previous year[34] - Adjusted net income available to common shareholders (non-GAAP) for the twelve months ended December 31, 2025, was $73,429,000, compared to $50,273,000 for the previous year, reflecting a year-over-year increase of 46%[41] 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] - Total loans and loans held for sale increased to $6,489,706,000, up 8.7% from $5,971,441,000 in the previous quarter[35] - Total deposits reached $7,027,109,000 in Q4 2025, 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, compared to $40.4 million, or 0.49% of total assets in Q3 2025[4] - Net loan charge-offs were $1.5 million, or 0.09% (annualized) of average total loans, for the three months ended December 31, 2025, compared to $957 thousand, or 0.06%, for the three months ended September 30, 2025[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] - Nonperforming assets as a percentage of total loans and other real estate owned (OREO) stood at 0.65%, slightly up from 0.62% in the prior quarter[37] Revenue and Income - Total revenue for the year ended December 31, 2025 was $282.2 million, an increase of 24.5% from $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, compared to $39.1 million for the year ended December 31, 2024[21] - Non-interest income for the three months ended December 31, 2025, was $12,084,000, a 14.4% increase from $10,566,000 in the previous quarter[34] 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 was 15.58% for the three months ended December 31, 2025, compared to 12.05% for the three months ended September 30, 2025[20] - The total risk-based capital ratio improved to 14.91%, compared to 13.97% in the previous quarter, reflecting a stronger capital position[37] - Common shareholders' equity as a percentage of total assets (GAAP) was 9.70%, up from 9.53% in the previous quarter and 8.93% a year ago, showing improved capital adequacy[45] Capital and Shareholder Value - Book value per common share increased to $27.63 at December 31, 2025, up from $26.68 at September 30, 2025[5] - Total shareholders' equity was $872.1 million as of December 31, 2025, representing an increase of $27.9 million, or 3.31% from September 30, 2025[31] - The increase in total shareholders' equity was driven by growth in earnings and an increase in additional paid-in capital related to the ESSA acquisition of $202.6 million[31] - Cash dividends per common share remained stable at $0.18 for both the current and previous quarters[34] Strategic Initiatives - The acquisition of ESSA Bancorp in July 2025 significantly contributed to the increase in earnings and loan growth[8] - The Corporation plans to optimize its branch and market footprint following the ESSA acquisition, which includes a strategic initiative involving $88.1 million in deposits classified as held for sale[7]
CNB FINL PA REPS(CCNEP) - 2025 Q4 - Annual Results