Cnb Financial Corporation · NASDAQ:CCNE
Cnb Financial — Shareholder Meeting (April 2021)
24 slides from Cnb Financial's shareholder meeting presentation, Apr 20, 2021
Slide 1: Annual Shareholder Meeting Presentation April 20, 2021
Exhibit 99.1 DISCUSSIONMATERIALS ANNUAL SHAREHOLDER MEETING PRESENTATION APRIL 20, 2021
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: 2021 Annual Shareholder Meeting
2021 ANNUAL SHAREHOLDER MEETING
Slide 4: Vision
VISION Find a way to say yes to our clients, co-workers and communities, every time. (ae \ | S o CNB ex...
Slide 5: Strategic Initiatives
STRATEGIC INITIATIVES § CNB strives to be a financially independent company. Through these key principles, we believe we will remain financially viable and relevant: § Be the source of exceptional experiences for our customers, employees and communities; § Foster an environment of leadership in our
Slide 6: 2020 at a Glance
2020 AT A GLANCE § During 2020, the onset of the novel coronavirus, or COVID-19, pandemic had a significant, negative impact on economic activity across our regions: § CNB took a proactive approach in assisting our customers and communities: § Participated in delivering 2,044, or $231 million, in Pa
Slide 7: Looking into 2021
LOOKING INTO 2021 § We continue to expand our ERIEBANK franchise into northeast Ohio, with two full-service SMART Center locations anticipated in 2021 and 2022. § FCBank continues to position itself as a premier community bank in Central Ohio. We are expanding our presence in the Columbus area throu
Slide 8: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE
Slide 9: Environmental
ENVIRONMENTAL At CNB we pride ourselves on our focus on environmental awareness and responsibility. We have implemented environmentally-conscious policies, including the following: § Reduced work-related travel and implemented corporate-wide technology initiatives to improve traveling efficiency, re
Slide 10: Social
SOCIAL Our Human Capital management objective is to attract, develop and promote a deep and diverse bench of talent. To that end, we’ve taken the following actions, among others: § Implemented Employee Experience programs designed to develop talent to prepare our employees for critical roles and lea
Slide 11: Governance
GOVERNANCE § It is the goal of CNB’s Corporate Governance and Nominating Committee of the Board to achieve diversity of geography, thought and background amongst our Board of Directors, Advisory Board Members, Management and our entire staff: § We rely on our Advisory Boards’ local knowledge and exp
Slide 12: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 13: Financial Trends
FINANCIAL TRENDS TOTAL ASSETS ($M) TOTAL GROSS LOANS ($M) $5,000 $5,000 $4,729 $4,000 $4,000 $3,764 $3,000 $3,372 $3,222 $3,000 $2,769 $2,804 $2,574 $2,475 $2,000 $2,000 $2,146 $1,874 $1,000 $1,000 $0 $0 2016Y 2017Y 2018Y 2019Y 2020Y 2016Y 2017Y 2018Y 2019Y 2020Y TOTAL DEPOSITS ($M) $5,000 $4,000 $4
Slide 14: Earnings Power
EARNINGS POWER (1) RETURN ON AVERAGE ASSETS RECENT EFFICIENCY INITIATIVES 1.40% § Achieved expected cost reductions associated with 1.18% 1.12% 1.20% Bank of Akron acquisition 0.99% 0.95% 1.00% 0.89% § Prepaid CNB’s entire FHLB borrowings totaling 0.80% approximately $190 million 0.60% 0.40% § Raise
Slide 15: Net Interest Margin and Pre-Tax Pre-Provision
NET INTEREST MARGIN AND PRE-TAX PRE-PROVISION (2) NET INTEREST MARGIN PRE-TAX PRE-PROVISION ($000) (1) Net interest margin and pre-tax pre-provision are non-GAAP financial measures; see appendix for reconciliation. 15 (2) Excludes applicable merger and acquisition, FHLB prepayment and branch closure
Slide 16: Capital Ratios
CAPITAL RATIOS CNB FINANCIAL CORPORATION – CAPITAL RATIOS (1) 16
Slide 17: Dividend History
DIVIDEND HISTORY HISTORICAL DIVIDEND PER COMMON SHARE 17
Slide 18: Financial Performance Summary Q1 2021
FINANCIAL PERFORMANCE SUMMARY Q1 2021 As of or for the quarter ending March 31, Dollars in thousands, except per share data 2021 2020 % Change Total Assets $4,901,092 $3,779,138 29.7% Loans 3 ,400,984 2,850,660 19.3% Deposits 4 ,358,100 3,100,216 40.6% Net Income 14,181 8,813 60.9% Diluted Earnings
Slide 19: Thank You for Attending
THANK YOU FOR ATTENDING OUR 2021 ANNUAL SHAREHOLDER MEETING. 19 (1) Return on average assets, Tangible common equity and Efficiency ratio are a non-GAAP financial measure; see appendix for reconciliation
Slide 20: Appendix
APPENDIX
Slide 21: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION As of or for the year ending December 31, Year-to-Date Dollars in thousands, except per share data 2016 2017 2018 2019 2020 3/31/2020 3/31/2021 Net Income $20,540 $23,860 $33,719 $40,081 $32,743 $8,813 $14,181 ADD: Merger Costs, Core Conversion, Prepayment Penalties and Branc
Slide 22: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION As of or for the year ending December 31, Year-to-Date Dollars in thousands, except per share data 2016 2017 2018 2019 2020 3/31/2020 3/31/2021 Non-Interest Expense $67,118 $70,037 $79,342 $87,508 $107,326 $21,742 $27,804 LESS: Core Deposit Intangible Amortization 1,125 1,229
Slide 23: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION As of or for the year ending December 31, Dollars in thousands, except per share data 2019 2020 Total stockholder's equity (GAAP) $304,966 $416,137 LESS: preferred equity - 57,785 LESS: goodwill and other intangible assets 38,890 44,316 Tangible common equity (non-GAAP) $266,
Slide 24: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION As of or for the quarter ending, Dollars in thousands, except per share data 12/31/2019 3/31/2020 6/30/2020 9/30/2020 12/31/2020 Net Income $10,484 $8,813 $8,246 $7,785 $7,899 ADD: Provision Expense 812 3 ,079 5,680 3 ,306 3,289 ADD: Income Tax Expense 2 ,298 1,724 1 ,762 1,9