CNB Financial Corporation Reports Fourth Quarter and Full-Year 2025 Results

Core Insights - CNB Financial Corporation reported significant earnings growth for the fourth quarter and full year of 2025, driven by the acquisition of ESSA Bancorp and organic growth in loans and deposits [5][6][8] Financial Performance - Earnings for Q4 2025 were $32.6 million, or $1.10 per diluted share, a substantial 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 [5][6] - 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 Q3 2025 [6][7] - For the full year 2025, earnings totaled $61.8 million, or $2.49 per diluted share, with adjusted earnings of $73.4 million, or $2.95 per diluted share, marking a 46.06% increase from 2024 [7][8] 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% for the quarter [6][7] - Total deposits were $7.0 billion, with organic deposit growth of $122.1 million, or 2.21% for the quarter [6][7] Net Interest Margin and Revenue - Net interest margin improved to 3.84% for Q4 2025, up from 3.69% in Q3 2025 [6][7] - Total revenue for Q4 2025 was $86.4 million, compared to $77.7 million in Q3 2025 and $59.4 million in Q4 2024 [6][7] Asset Quality - Total nonperforming assets were approximately $42.2 million, or 0.50% of total assets, as of December 31, 2025, a slight increase from $40.4 million in Q3 2025 [6][8] - The allowance for credit losses was 1.03% of total loans as of December 31, 2025, compared to 1.05% in Q3 2025 [28][29] Capital and Book Value - Book value per common share was $27.63 as of December 31, 2025, reflecting an increase from $26.68 in Q3 2025 [11][12] - Tangible book value per common share was $23.48, with an adjusted value of $23.88, indicating a 4.10% increase from Q3 2025 [11][12] Non-Interest Expenses - Total non-interest expense for Q4 2025 was $60.1 million, with an adjusted figure of $52.3 million excluding merger costs, reflecting a 13.66% increase from Q3 2025 [27][28] - The increase in non-interest expenses was primarily driven by higher salaries and benefits due to staffing additions from the ESSA acquisition [27][28]