secwatch.observer — SEC 8-K summary
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Issuer:     CNB FINANCIAL CORP/PA (CCNE)
CIK:        0000736772
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0000736772-24-000098
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CNB Financial Q3 net income $12.9M ($0.61 EPS), loans grow 2.2% QoQ, deposits up 2.1%
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- Net income $12.9M ($0.61 diluted EPS) vs. $11.9M ($0.56) in Q2 2024 and $12.7M ($0.60) in Q3 2023.
- Loans (ex-syndicated) reached $4.5B, up 2.18% QoQ (8.69% annualized); deposits $5.2B, up 2.08% QoQ (8.26% annualized).
- Repositioned $185M brokered deposits to CDs at lower rates, saving ~$2.5M in annual interest expense.
- Nonperforming assets rose to $42.0M (0.70% of assets) from $36.5M (0.62%) due to one $7.9M commercial relationship with $2.2M specific reserve.
- Pre-tax net unrealized losses on securities improved to $62.5M (10.30% of equity) from $84.1M (14.33%) at June 30, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736772/000073677224000098/0000736772-24-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736772/000073677224000098/ccne-20241021.htm
  HTML page:      https://secwatch.observer/filing/0000736772-24-000098

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