CNB Financial Corporation (CCNE) ASM 2025 presentation summary

Financial performance highlights

• Net income for 2024 was $50.3 million ($2.39 per diluted share), down from $53.7 million ($2.55 per share) in 2023, mainly due to higher deposit costs.

• Loans grew to $4.6 billion (up 3.14%) and deposits to $5.4 billion (up 7.45%) as of December 31, 2024.

• Return on average assets and equity declined to 0.93% and 9.21% in 2024 from 1.04% and 10.54% in 2023.

• Book value per common share increased 7.20% to $26.34 at year-end 2024.

• Compound annual growth rates (2020–2024): loans 8.1%, deposits 6.5%, total assets 7.0%.

Earnings and efficiency trends

• Diluted earnings per share decreased to $2.39 in 2024 from $2.55 in 2023.

• Net interest margin (NIM) was 3.41% in 2024, down from 3.63% in 2023.

• Efficiency ratio increased to 66.20% in 2024 from 65.13% in 2023.

• Q1 2025 net income available to common stockholders was $10.4 million, with diluted EPS of $0.50.

• Q1 2025 NIM was 3.38%, and return on average assets was 0.75%.

Credit quality and portfolio composition

• Nonperforming assets to total assets rose to 0.67% in 2024, mainly due to one multifamily relationship.

• Net charge-offs to loans remained low at 0.08% in 2024.

• Allowance for credit losses to nonaccrual loans was 2.07x at year-end 2024.

• Commercial & Industrial portfolio is diversified, with no industry over 19% of C&I loans.

• Commercial mortgage portfolio is diversified, with office exposure under 8% and apartments at 25.5%.