secwatch.observer — SEC 8-K summary
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Issuer:     CNB FINANCIAL CORP/PA (CCNE)
CIK:        0000736772
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0000736772-24-000055
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736772/000073677224000055/0000736772-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736772/000073677224000055/ccne-20240415.htm
  HTML page:      https://secwatch.observer/filing/0000736772-24-000055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer