Cnb Financial Corporation · NASDAQ:CCNE
Cnb Financial — Investor Presentation (April 2025)
26 slides from Cnb Financial's investor presentation, Apr 15, 2025
Slide 1: Investor Presentation
Exhibit 99.1 April 15, 2025 INVESTOR PRESENTATION O U R F AM I LY O F B AN K S
Slide 2: Caution Regarding Forward Looking Statements
CERTAIN IMPORTANT INFORMATION CAUTION REGARDING 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 Corpor
Slide 3: 2024 Highlights at a Glance
2024 HIGHLIGHTS AT A GLANCE § Net income available to common shareholders (“earnings”) was $50.3 million, or $2.39 per diluted share, for the twelve months ended December 31, 2024, compared to earnings of $53.7 million, or $2.55 per diluted share, for the twelve months ended December 31, 2023. § The
Slide 4: Financial Trends
FINANCIAL TRENDS TOTAL GROSS LOANS ($M) TOTAL DEPOSITS ($M) CAGR = 6.5% CAGR = 8.1% $5,000 $6,000 $4,609 $5,371 $4,468 $4,275 $4,999 $4,716 $4,622 $5,000 $4,000 $3,635 $4,182 $3,372 $4,000 $3,000 $3,000 $2,000 $2,000 $1,000 $1,000 $0 $0 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 TOTAL ASSETS
Slide 5: Earnings Trends (1)
EARNINGS TRENDS (1) (1) RETURN ON AVERAGE ASSETS RETURN ON AVERAGE EQUITY 15.00% 1.40% 13.9% 13.4% 1.20% 1.14% 1.20% 1.04% 12.00% 10.5% 0.93% 1.00% 9.1% 9.2% 0.75% 9.00% 0.80% 0.60% 6.00% 0.40% 3.00% 0.20% 0.00% 0.00% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 (1) DILUTED EARNINGS PER SHARE $
Slide 6: Earnings Trends (2)
EARNINGS TRENDS (2) (1)(2) NET INTEREST MARGIN (NIM) EFFICIENCY RATIO Efficiency Ratio Efficiency Ratio - Fully Tax Equiv. NIM NIM Fully Tax Equiv. 80% 3.90% 3.83% 3.82% 3.80% 3.70% 70% 3.63% 3.61% 65.94% 66.20% 65.13% 3.60% 65.47% 61.32% 65.10% 60.26% 3.50% 64.45% 3.41% 60% 3.39% 3.38% 60.87% 3.40%
Slide 7: Credit Quality
CREDIT QUALITY (1) NONPERFORMING ASSETS TO TOTAL ASSETS NET CHARGE-OFFS TO LOANS 1.25% 0.25% 0.21% 0.96% 1.00% 0.20% 0.17% 0.75% 0.67% 0.15% 0.55% 0.43% 0.10% 0.50% 0.08% 0.08% 0.38% 0.05% 0.05% 0.25% 0.00% 0.00% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 ALLOWANCE FOR CREDIT LOSSES TO NONACC
Slide 8: Additional Loan Portfolio Detail
ADDITIONAL LOAN PORTFOLIO DETAIL § Well diversified Commercial & Industrial (“C&I”) portfolio with no single industry greater than 19% of total C&I portfolio § CNB has proven C&I underwriting practices and strong loan loss history § Commercial Mortgage portfolio is also well diversified with no sing
Slide 9: Additional Commercial Mortgage Detail
ADDITIONAL COMMERCIAL MORTGAGE DETAIL (1) (1) (1) LODGING (12/31/24) OFFICE (12/31/24) MULTI-FAMILY (12/31/24) • Consists of 225 loans, totaling $367.6 • Consists of 170 loans, totaling $321.6 • Consists of 112 loans, totaling $113.7 million, or 7.98% of total loans million, or 6.98% of total loans
Slide 10: Capital
CAPITAL DIVIDEND PER COMMON SHARE PREFERRED STOCK DIVIDEND – FIXED RATE $0.75 10.0% $0.71 $0.70 $0.70 $0.69 $0.70 9.0% $0.68 $0.65 8.0% 7.125% 7.125% 7.125% 7.125% 7.125% $0.60 7.0% $0.55 6.0% $0.50 5.0% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 (1) TANGIBLE COMMON EQUITY/TANGIBLE ASSETS BOO
Slide 11: Regulatory Capital Ratios
REGULATORY CAPITAL RATIOS 16.2% 16.1% 16.0% 11.8% 11.5% 11.4% 10.7% 10.5% 10.4% Common Equity Tier 1 Ratio Tier 1 Leverage Ratio Total Risk Based Ratio 12/31/2022 12/31/2023 12/31/2024 11
Slide 12: Dividend History
DIVIDEND HISTORY HISTORICAL DIVIDEND PER COMMON SHARE $0.800 $0.700 $0.600 $0.500 $0.400 $0.300 $0.200 $0.100 $0.000 Common Dividend Special Dividend • The Corporation’s long, uninterrupted history of dividends to its common shareholders reflects a key component of its Total Shareholder Return • Div
Slide 13: Financial Performance Summary Q1 2025
FINANCIAL PERFORMANCE SUMMARY Q1 2025 Three Months Ended QoQ % YoY % Dollars in thousands, except per share data 3/31/25 12/31/24 3/31/24 Change Change Total Assets $ 6, 295,508 $ 6, 192,010 $ 5, 801,412 1.7 % 8.5 % Loans 4,610,009 4, 608,956 4, 431,398 0.0 % 4.0 % Deposits 5,460,078 5,371,364 5, 03
Slide 14: Liquidity Profile
LIQUIDITY PROFILE § At March 31, 2025, the total estimated uninsured deposits for CNB Bank were approximately $1.6 billion, or approximately 27.94% of total CNB Bank deposits. However, when excluding $101.9 million of affiliate company deposits and $481.2 million of pledged-investment collateralized
Slide 15: Looking into 2025
LOOKING INTO 2025 § In November 2024, Ridge View Bank celebrated the grand opening of its regional headquarters in Roanoke, VA which is positioned to help grow the Corporation’s regional presence in 2025 and beyond. § In February 2025, CNB Bank and its predecessor organization, County National Bank,
Slide 16: Strategic Merger with ESSA Bancorp, Inc
STRATEGIC MERGER WITH ESSA BANCORP, INC § On January 9, 2025, the Corporation and CNB Bank entered into a definitive merger agreement with ESSA Bancorp, Inc. (“ESSA”) and its subsidiary bank, ESSA Bank & Trust Company, pursuant to which the Corporation will acquire ESSA in an all-stock transaction.
Slide 17: Parade Street
PARADE STREET § On February 24, 2025, ERIEBank held the grand opening of its Financial Education Center on Parade Street in Erie, Pennsylvania. § The Financial Education Center is more than just a banking office — it is a local hub designed to empower the community with financial literacy resources,
Slide 18: Thank You for Attending Our 2025 Annual Shareholder Meeting
THANK YOU FOR ATTENDING OUR 2025 ANNUAL SHAREHOLDER MEETING. 18
Slide 19: Appendix
APPENDIX
Slide 20: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION ‘Twelve Months Ended ‘Three Months Ended 12/33/20 12/34/2i__12/34f22_12/BAB_ PAPA — SYN A/APY__—_—_—3/3APIS_ Interest income $167,167 $179,600 $218,738 $293,695 $325,470 $7905 $83,678 «$82,378 32.456 1982024079 103,866 138,001, 32,683 34634 33.988 Net Interest Income 134711 1
Slide 21: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION “Twelve Months Ended ‘Three Months Ended W/saj20W/syfaa_ 12/3122 /sAPPs_/sAjaa —_3/safaa_ 12/34/24 3/34/25. ‘Calculation of efficiency rat Non:interest expense $107,326 $116,433 $137,622 $145,342 $150,002 $37,428 $37,805 $41,038 Non-interest income 26059-33438 34765 33,335 9,
Slide 22: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION ‘Twelve Months End: 2 iths Ended 12/31/20 12/34/21 12/34/22 12/31/23 12/31/24 Total stockholder's equity (GAAP) $416,137 $442,847 $530,762 $571,247 $610,695 LESS: preferred equity 57,785 57,785 57,785 57,785 57,785 ‘Common equity 358,352 385,062 «472,977 ‘513,462 552,910 LESS
Slide 23: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION share data Three Months Ended 3/34/24 12/31/24__3/31/25 Net income LESS: Preferred stock dividends ADD: Merger costs, net of tax (non-GAAP) $12,600 $15,064 $11,481 1,075 1,076 1,075 $11,525 $13,988 $10,406 $11,525 $13,988 $10,406 - - 1,487 $11,525 $13,988 $11,893
Slide 24: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Three Months Ended Dollars in thousands, except per share data 3/31/24 12/31/24 3/31/25 Diluted earnings per common share computation: Net income available to common shareholders $ 11,525 $ 13,988 $ 10,406 LESS: net income available to common shareholders allocated to partici
Slide 25: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Three Months Ended Dollars in thousands, except per share data 3/31/24 12/31/24 3/31/25 Calculation of return on average equity (GAAP): Net income $12,600 $15,064 $11,481 Average shareholders' equity $576,528 $612,184 $619,409 Return on average equity (GAAP) (annualized) 8.79
Slide 26: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Three Months Ended Dollars in thousands, except per share data 3/31/24 12/31/24 3/31/25 Calculation of return on average assets: Net income $12,600 $15,064 $11,481 Average total assets $5,729,779 $6,085,277 $6,220,575 Return on average assets (GAAP) / (annualized) 0.88% 0.98%