Cnb Financial Corporation · NASDAQ:CCNE
Cnb Financial — Shareholder Meeting (April 2023)
22 slides from Cnb Financial's shareholder meeting presentation, Apr 18, 2023
Slide 1: Annual Shareholder Meeting Presentation, April 18, 2023
84 87 90 164 30 52 230 228 229 Discussion Materials ANNUAL shareholder MEETING Presentation APRIL 18, 2023 164 30 52 164 30 52 164 30 52 Exhibit 99.1
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 CNB’s fina
Slide 3: 2022 at a glance
2022 at a glance Net income available to common stock shareholders of $58.9 million, or $3.26 per diluted share, for the year-ended December 31, 2022, compared to $53.4, million or $3.16 per diluted share, for the year-ended December 31, 2021, reflecting increases of $5.5 million, or 10.3%, and $0.1
Slide 4: Financial trends
(1) Earnings per share includes merger costs in 2019 and merger costs, FHLB prepayment penalties and branch closure costs in 2020. Source: Company filings Financial trends Total Assets ($M) Total Gross Loans ($M) Total Deposits ($M) Earnings per share(1) CAGR = 14.2% CAGR = 14.6% CAGR = 15.3% CAGR =
Slide 5: Earnings power
(1) Return on average assets, return on average equity, and efficiency ratio includes merger costs in 2019 and merger costs, FHLB prepayment penalties and branch closure costs in 2020. (2) Net interest margin and adjusted efficiency ratio are non-GAAP financial measures – see Appendix for reconcilia
Slide 6: Credit quality
Credit quality NONPERFORMING ASSETS TO TOTAL ASSETS NET CHARGE-OFFS TO LOANS ALLOWANCE FOR CREDIT LOSSES to NONACCRUAL LOANS(1) (1) Prior to January 1, 2020, the Corporation calculated the allowance for loan losses using the probable incurred methodology. Source: Company filings
Slide 7: Commercial mortgage and C&I portfolio
Commercial mortgage and C&I portfolio Well diversified and granular C&I portfolio with no single industry greater than 25% of total C&I portfolio CNB has proven C&I underwriting practices and strong loan loss history CRE portfolio is also well diversified and granular with no single segment greater
Slide 8: Capital
(1) Tangible common equity/tangible assets is a non-GAAP financial measure – see Appendix for reconciliation. Source: Company filings Capital book value per common share DIVIDEND PER COMMON SHARE Tangible common Equity/Tangible assets(1) Preferred Stock dividend – fixed rate CAGR = 6.7%
Slide 9: Regulatory Capital ratios
Regulatory Capital ratios Source: Company filings
Slide 10: Dividend History
Dividend History Historical dividend per common share
Slide 11: Financial performance summary Q1 2023
Financial performance summary Q1 2023 (1) Net interest margin and efficiency ratio are a non-GAAP financial measure – see Appendix for reconciliations. Source: Company filings
Slide 12: Deposit & liquidity profile
Deposit & liquidity profile At March 31, 2023, the total estimated uninsured deposits for CNB Bank were approximately $1.6 billion, or approximately 33% of total CNB Bank deposits. The adjusted ratio of estimated uninsured deposits, excluding affiliate and collateralized deposits (“Adjusted Uninsure
Slide 13: Looking into 2023
Looking into 2023 CNB Bank expects to expand its Centre County presence into State College, PA, by establishing a Commercial Lending, Private Banking and Wealth Management office in the third quarter of 2023, shortly followed by the establishment of a full-service branch office in the fourth quarter
Slide 14: Impressia Bank
Impressia Bank This women-focused commercial bank will begin within the existing geographic footprint of each of CNB Bank’s five other divisions, then strategically expand beyond those borders utilizing an online presence. Extending beyond traditional business banking offerings, Impressia Bank clien
Slide 15: Bank on Wheels
Bank on Wheels The first of its kind operated by any financial institution in Western New York, BankOnWheels is a full-service, yet fully mobile bank branch, which will enable the bank to deliver essential banking services to communities with little or no access to such services today. The BankOnWhe
Slide 16: Financial literacy
Financial literacy The Corporation expanded its efforts surrounding its financial literacy outreach in 2022, conducting five Financial Reality Fairs and 120 other financial literacy events in various regions throughout the footprint we serve. The fairs teach real-life budgeting skills to high school
Slide 17: Parade Street
Parade street ERIEBank, a division of CNB Bank is working with the East Side Renaissance team to help revitalize and redevelop a four-block corridor of Parade Street, in Erie, PA to better serve the needs of the community and draw more economic activity back to this neglected section of the city. Th
Slide 18: Thank you for attending our 2023 annual shareholder meeting
Thank you for attending our 2023 annual shareholder meeting.
Slide 19: Appendix
Appendix
Slide 20: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION For the year ending December 31, “Three Months Ended oie 2019 ~—=—=—«2020S20—=—«20 ‘ayaia022 12/31/2022 1/2023 Interest income $131870 $155,728 $167,167 $179,600 $213,738, $46,254 $62445 $665,640 2695039530 32456 1982024079, 3.637 1612 19,001 Net Interest Income 104920 116198
Slide 21: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Twelve Months Ended 32/31/2018 12/31/2019 12/31/2020 12/31/2021, ‘Three Months Ended 3/31/2022 12/31/2022 3/31/2023 32/33/2022 Calculation of efficiency ratio: Non-interest expense $79,342 $87,508 $107,326 $1643 $137,622 $31,892 $37,021 $33,990 Non interest incom: 20,723 25,9
Slide 22: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION As of or for the year ending December 31, 2018 2019 2020 2021 2022 Total stockholder's equity (GAAP) $262,830 $304,966 $416,137 $442,847 $530,762 LESS: preferred equity - - 57,785 57,785 57,785 Common equity 262,830 304,966 «= 358,352 385,062 472,977 LESS: goodwill and other