Cnb Financial ( (CCNE) ) has released its Q1 earnings. Here is a breakdown of the information Cnb Financial presented to its investors.
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CNB Financial Corporation is a financial holding company primarily operating through its subsidiary, CNB Bank, offering a range of banking services including trust and wealth management across Pennsylvania, Ohio, New York, and Virginia. In its first quarter of 2025, CNB Financial reported net income of $10.4 million, or $0.50 per diluted share, a decrease from the previous quarter, attributed to lower net interest and non-interest income and increased expenses. However, excluding merger costs, earnings showed a slight increase compared to the same quarter last year. The company saw a modest growth in loans and a significant increase in deposits, with total deposits reaching $5.5 billion, driven by retail and municipal deposits. Despite a decrease in syndicated loan balances, the corporation maintained a high credit quality and liquidity. Looking ahead, CNB Financial remains focused on strategic growth through its intended acquisition of ESSA Bancorp, Inc., while continuing to manage its core overhead and expand its wealth and asset management services.