Cnb Financial Corporation · NASDAQ:CCNE
Cnb Financial — FY2010 Earnings Presentation
19 slides from Cnb Financial's earnings presentation, Mar 4, 2011
Slide 1: Financial Highlights Year Ended December 31, 2010
Financial Highlights Year Ended December 31, 2010 NASDAQ: CCNE March 4, 2011 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the financial condition, liquidity, results of operations,
Slide 3: 2010 Highlights
Balance Sheet • Deposits of $1.163 billion, growth of 22% over December 31, 2009 – Transaction, money market and savings deposits equal 68% of total • Loans of $795 million, growth of 11% over December 31, 2009 Profitability • Net income of $11.3 million, or $1.06 per share • Return on assets of 0.8
Slide 4: Balance Sheet Growth
Assets Loans Balance Sheet Growth $ in millions * Compound annual growth rate from 2005-2010. Average Annual Increase: * 13% 8% Deposits 13% $764 $781 $859 $1,017 $1,162 $511 $547 $600 $672 $715 $795 $619 $631 $659 $815 $957 $1,163 Assets Loans Deposits $1,414
Slide 5: Earnings Per Share & Dividends
EPS Div. Earnings Per Share & Dividends * Compound annual growth rate from 2000-2010. Average Annual Increase: * 6.0% 6.9% $0.59 $0.71 $0.95 $0.99 $0.86 $1.01 $1.08 $1.05 $0.61 $0.98 $1.06 $0.34 $0.37 $0.47 $0.47 $0.52 $0.55 $0.57 $0.62 $0.65 $0.66 $0.66 EPS Dividends
Slide 6: Capital Ratios
Capital Ratios 7.8% 7.9% 6.9% 5.1% 5.1% 7.1% 9.2% 9.2% 9.7% 8.4% 7.9% 8.8% 11.7% 11.7% 11.9% 10.8% 10.7% 14.1% 12.8% 12.8% 12.9% 12.0% 12.0% 15.4% Tangible Common Equity to Tangible Assets Leverage Ratio Tier 1 Risk Based Ratio Total Risk Based Capital Ratio * * Please see the Appendix for a reconci
Slide 7: Deposit Composition
Deposit Composition • 23% annual compound growth since 2005 in transaction, money market and savings accounts; 2% in CDs • Interest-bearing deposit cost of 1.42% (or total deposit cost of 1.25%) for the year ended December 31, 2010 * Compound annual growth rate from 2005-2010.
Slide 8: Deposit Demographics
Deposit Demographics Source: SNL Financial 6/30/10 County CNB Market Rank Number of Branches CNB Deposits in Market ($000) CNB Market Share (%) Total Deposits in Market ($000) Total Population (Actual) Clearfield 405,489 29.65 1,367,426 83,248 Erie 271,572 7.25 3,745,173 279,906 Elk 105,820 16.16 65
Slide 9: Loan Portfolio Overview
30% 29% 29% 31% 31% 34% 38% 39% 36% 34% 33% 33% Loan Portfolio Overview 26% 26% 27% 27% 27% 27% 6% 5% 8% 9% 8% 7% 0% 20% 40% 60% 80% 100% Consumer and other Commercial, industrial, and agricultural Commercial mortgage Residential mortgage $511 $547 $600 $672 $715 $795 $ in millions
Slide 10: Yield on earning assets, cost of funds and net interest margin
Yield on earning assets, cost of funds and net interest margin 7.32% 7.11% 5.89% 6.72% 5.23% 3.51% 3.40% 2.07% 2.64% 1.78% 4.17% 4.27% 4.33% 4.00% 3.71% 0% 2% 4% 6% 8% Yield on earning assets Cost of funds Net interest margin (tax equivalent)
Slide 11: Asset Quality Summary
For the Year Ending 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 Asset Quality Summary ($ in '000s) Nonaccrual $1,561 $1,619 $1,979 $3,046 $12,757 $11,926 90+ Days Past Due Total Non-Performing Loans 2,023 1,747 2,374 3,579 13,341 12,815 Other Real Estate Owned Total Non-Performing Assets 2
Slide 12: NCOs / Average Loans
0.15% 0.16% 0.12% 0.14% 0.30% 0.44% 0.14% 0.19% 0.12% 0.12% 0.11% 0.18% 0.70% 1.36% 1.27% 0.02% 0.01% NCOs / Average Loans 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% CCNE - CNB Bank CCNE - Holiday Financial Services Peers Peers include U.S. bank holding companies with assets between $1 and $3 b
Slide 13: Nonperforming Loans / Loans
Nonperforming Loans / Loans Peers include U.S. bank holding companies with assets between $1 and $3 billion for 2010, 2009, and 2008, and U.S. bank holding companies with assets between $500 million and $1 billion for 2007, and 2005. 0.40% 0.32% 0.40% 0.53% 1.87% 1.61% 0.46% 0.56% 1.00% 2.41% 3.51%
Slide 14: Delinquent Loans/Total Loans
Delinquent Loans/Total Loans Peers include U.S. bank holding companies with assets between $1 and $3 billion for 2010, 2009, and 2008, and U.S. bank holding companies with assets between $500 million and $1 billion for and 2006.
Slide 15: Non-interest expense ratio
Non-interest expense ratio {Non-interest expenses divided by average assets} Peers include U.S. bank holding companies with assets between $1 and $3 billion for 2010, 2009, and 2008, and U.S. bank holding companies with assets between $500 million and $1 billion for 2007. 3.12% 2.89% 2.79% 2.92% 2.4
Slide 16: Holiday Financial Services
Holiday Financial Services Net Income Charge-Offs $225,000 $576,000 1,332,000 889,000
Slide 17: Summary Financial Highlights
2005 2006 2007 2008 2009 2010 Summary Financial Highlights ($ in millions, except per share data) BALANCE SHEET Assets $764 $781 $859 $1,017 $1,162 $1,414 Loans $511 $547 $600 $672 $715 $795 Deposits $619 $631 $659 $815 $957 $1,163 Shareholders' Equity $70 $72 $69 $62 $69 $110 PROFITABILITY Net Inco
Slide 18: Appendix: Non-GAAP Financial Reconciliation
2005 2006 2007 2008 2009 2010 Appendix Non-GAAP Financial Reconciliation Tangible common equity to tangible assets is a non-GAAP financial measure calculated using GAAP amounts. Tangible common equity is calculated by excluding the balance of goodwill and other intangible assets from the calculation
Slide 19: Financial Highlights Year Ended December 31, 2010
Financial Highlights Year Ended December 31, 2010 NASDAQ: CCNE March 4, 2011