CNB Financial(US:CCNE) Globenewswire·2025-04-14 20:05Executive Summary - CNB Financial Corporation reported net income of $10.4 million, or $0.50 per diluted share, for the three months ended March 31, 2025, reflecting a decrease of 14.98% from the previous quarter [3] - Excluding after-tax merger costs, earnings were $11.9 million, or $0.57 per diluted share, which is a 3.19% increase year-over-year compared to the same quarter in 2024 [3] Financial Performance - Total revenue for the quarter was $56.9 million, a decrease from $59.4 million in the previous quarter but an increase from $54.2 million year-over-year [20] - Net interest income was $48.4 million, down from $49.0 million in the previous quarter and up from $45.2 million year-over-year [20] - Non-interest income totaled $8.5 million, down from $10.3 million in the previous quarter and $9.0 million year-over-year [20] Loan and Deposit Growth - Total loans reached $4.5 billion, representing a quarterly increase of $11.7 million, or 0.26%, and a year-over-year increase of $188.1 million, or 4.32% [3] - Total deposits were $5.5 billion, reflecting a quarterly increase of $88.7 million, or 1.65%, and a year-over-year increase of $422.5 million, or 8.39% [3] Asset Quality - Total nonperforming assets were approximately $56.1 million, or 0.89% of total assets, down from $59.5 million, or 0.96% of total assets in the previous quarter [27] - The allowance for credit losses was 1.03% of total loans, consistent with previous quarters [27] Capital and Liquidity - Total shareholders' equity was $624.5 million, an increase of $13.8 million, or 2.26%, from the previous quarter [27] - The Corporation maintained excess liquidity totaling approximately $100.7 million, which covers the unrealized losses on investments [7][27] Merger Activity - The Corporation announced a definitive merger agreement with ESSA Bancorp, Inc., expected to close in the third quarter of 2025, subject to regulatory approvals [25]