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Dec 31, 2024
CNB Financial Q4 2024 Earnings Report
CNB Financial Corporation's earnings increased due to a rise in net interest income and a reduction in non-interest expense, partially offset by a decrease in non-interest income.
Key Takeaways
CNB Financial Corporation reported a net income of $14.0 million, or $0.66 per diluted share, for the fourth quarter of 2024, compared to $12.9 million, or $0.61 per diluted share, for the previous quarter. The increase was driven by higher net interest income and lower non-interest expense, partially offset by lower non-interest income. Loans totaled $4.5 billion, excluding syndicated loans, representing a quarterly increase of $6.6 million. Total deposits were $5.4 billion, reflecting a quarterly increase of $154.4 million.
Net income available to common shareholders was $14.0 million, or $0.66 per diluted share.
Loans totaled $4.5 billion excluding the balances of syndicated loans, representing a quarterly increase of $6.6 million.
Total deposits were $5.4 billion, reflecting a quarterly increase of $154.4 million.
Pre-provision net revenue (PPNR) was $21.6 million.
Forward Guidance
CNB Financial Corporation did not provide specific forward guidance in the earnings report. The report mentions the pending acquisition of ESSA Bancorp, which is expected to close in the third quarter of 2025, but does not provide any financial projections or targets.
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