CNB Financial Q3 EPS $0.60, down from $0.90 YoY; NIM shrinks 7 bps

CNB FINANCIAL CORP/PA

2023-Q3 EPS reported $1.94

Net income of $12.7M ($0.60 diluted EPS) vs. $12.8M ($0.61) prior quarter and $15.5M ($0.90) a year ago.
Total deposits grew 1.4% QoQ to $5.0B; adjusted uninsured deposits 18.4% of total deposits.
Nonperforming assets rose to 0.51% of assets from 0.43% QoQ, driven by a $6.9M commercial real estate relationship.
Loans (ex-syndicated & PPP) increased 1.2% QoQ to $4.4B; syndicated lending declined $22.5M.
Pre-provision net revenue (PPNR) fell to $18.2M from $19.6M prior quarter due to lower NIM and higher salaries.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CNB FINANCIAL CORP/PA reported financial results for three and nine months ended September 30, 2023.

Period: three and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

On October 23, 2023, CNB Financial Corporation (NASDAQ: CCNE), the parent company of CNB Bank, issued a press release describing its results of operations for the three and nine months ended September 30, 2023.

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Source: SEC EDGAR

accession 0000736772-23-000068

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