CNB Financial Q1 net income $11.5M ($0.55 EPS), down from $15.4M ($0.73) YoY

CNB FINANCIAL CORP/PA

2024-Q1 EPS reported $0.55

Net income $11.5M ($0.55 diluted EPS) versus $12.9M ($0.62) in Q4 2023 and $15.4M ($0.73) in Q1 2023, driven by higher deposit costs.
Loans excl. syndicated/PPP $4.4B; down $7M from Dec 2023 but up $199.6M YoY; syndicated loans fell to $78.7M (1.78% of total loans).
Deposits $5.0B, up $38.8M from Dec 2023; adjusted uninsured deposits $884.6M (17.21% of total deposits).
Pre-provision net revenue $16.8M, down from $18.4M in Q4 2023 and $21.7M in Q1 2023.
Nonperforming assets $30.7M (0.53% of assets); net charge-offs $1.3M (0.12% annualized), versus $686K (0.07%) a year ago.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CNB FINANCIAL CORP/PA reported three months ended March 31, 2024 results: net income $11.5 million, EPS $0.55 per diluted share.

Period: three months ended March 31, 2024
Net income: $11.5 million
EPS: $0.55 per diluted share
Result: reported results

Exact text from the filing

CNB Financial Corporation (“Corporation”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the three months ended March 31, 2024. Executive Summary • Net income available to common shareholders ("earnings") was $11.5 million, or $0.55 per diluted share, for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0000736772-24-000055

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