Cnb Financial Corporation · NASDAQ:CCNE
Cnb Financial — Q3 2026 Earnings Presentation
46 slides from Cnb Financial's earnings presentation, Oct 21, 2026
Slide 1: Q3 2026 Earnings Supplement
Focusing on great experiences and mutually sustainable success for our clients, colleagues, and investors. Q3 2026 Earnings Supplement
Slide 2: Certain Important Information
2 CERTAIN IMPORTANT INFORMATION Certain comparative financial information for the three and nine months ended September 30, 2025 has been recast to reflect the Corporation's adoption of Accounting Standards Update 2025-08, Financial Services - Credit Losses (Topic 326): Purchased Financial Assets. T
Slide 3: Company Overview
3 COMPANY OVERVIEW (1) Based on 29,620,028 share count reported as of September 30, 2026, in the October 21, 2026 Earnings Release and the October 13, 2026 closing stock price ($33.78). ▪ Holding Company for CNB Bank (Clearfield, PA), serving the community since 1865 ▪ 75 full-service offices, one l
Slide 4: 3rd Quarter 2026 Highlights
4 3RD QUARTER 2026 HIGHLIGHTS • Net Income of $27.0 million, or $0.91 per diluted common share • Return on Average Assets of 1.33% • Return on Average Tangible Common Equity (ROATCE) of 14.39%(1) • Return on Average Equity of 12.09% • Net Interest Margin, fully tax equivalent, of 3.89%, consistent f
Slide 5: 3rd Quarter 2026 Highlights: Loans, Deposits, Asset Quality
5 3RD QUARTER 2026 HIGHLIGHTS • Total loans receivable of $6.6 billion increased $106.8 million, or 6.50% annualized, from the prior quarter • Yield on loans and loans held for sale of 6.31%, down 7 bps from the prior quarter • Loan/Deposit ratio of 93.94% LOANS • Total deposits of $7.0 billion decr
Slide 6: Unique Multi-State, Multi-Brand Model
6 UNIQUE MULTI-STATE, MULTI-BRAND MODEL ▪ Legacy bank of the organization founded in 1865 ▪ 19 full-service offices serving Clearfield, Centre, McKean, Elk, Jefferson, Cambria, Indiana and Blair counties in PA ▪ Central and North Central PA focus ▪ Opened in August 2005 ▪ Legacy market with 9 full-s
Slide 7: Investment Highlights
7 INVESTMENT HIGHLIGHTS Management • Experienced executive management team, supported by a deep bench, focused on generating shareholder value Capital & Liquidity • Substantial liquidity combined with exceptional capital levels to support overall shareholder strategy Balance Sheet • Strong risk prof
Slide 8: Investment Accretion and Returns
8 INVESTMENT ACCRETION AND RETURNS
Slide 9: Tangible Book Value per Common Share
9 TANGIBLE BOOK VALUE PER COMMON SHARE (1) Tangible book value per common share is a non-GAAP financial measure – see Appendix for reconciliations. $15.98 $17.28 $20.00 $21.29 $22.85 $22.39 $24.57 $26.34 $27.63 $27.12 $28.86 $13.33 $14.69 $17.45 $18.66 $20.22 $20.30 $22.46 $24.24 $23.48 $22.76 $24.8
Slide 10: Return on Average Tangible Common Equity
10 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (1) ROATCE and adjusted ROATCE are non-GAAP financial measures – see Appendix for reconciliations; Average equity includes both common and preferred equity in periods following the 2020 preferred equity issuance. Adjusted return on tangible common equity i
Slide 11: Diluted Earnings per Common Share
11 DILUTED EARNINGS PER COMMON SHARE (1) Diluted earnings per common share (EPS) includes merger costs in 2019, merger costs, FHLB prepayment penalties and branch closure costs in 2020, and merger costs in 2025. Adjusted diluted earnings per common share (EPS Adj), which excludes 2025 merger related
Slide 12: Dividend History
12 DIVIDEND HISTORY HISTORICAL DIVIDEND PER COMMON SHARE • The Corporation’s long, uninterrupted history of dividends to its common shareholders reflects a key component of its total shareholder return • Common stock dividend yield of 2.28% as of September 30, 2026 • Common stock dividend payout rat
Slide 13: Our Mission
13 OUR MISSION We are dedicated to being the premier financial services provider in our communities CNB’s commitment to providing premier banking and wealth management solutions, building valued client relationships, being an employer of choice, and achieving top-tier performance is evidenced by: •
Slide 14: Asset Growth and Key Milestones
14 $0.8 $0.8 $0.9 $1.0 $1.2 $1.4 $1.6 $1.8 $2.1 $2.2 $2.3 $2.6 $2.8 $3.2 $3.8 $4.7 $5.3 $5.5 $5.8 $6.2 $8.4 $8.4 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 Acquisition of FC Banc Corp Acquisition of Bank of Akron Acquisition of ESSA Bancorp Ridge View Bank Is Formed ERIEBANK Formed2 0 0 5 2 0 1 3 2 0 1 6 2 0 2 0
Slide 15: CNB Bank Senior Management
15 CNB BANK SENIOR MANAGEMENT MICHAEL D. PEDUZZI President, Chief Executive Officer MARTIN T. GRIFFITH Senior Executive Vice President, Chief Revenue Officer LEANNE D. KASSAB Senior Executive Vice President, Chief Experience Officer TITO L. LIMA Senior Executive Vice President, Chief Financial Offic
Slide 16: Quarterly Results Q3 2026
QUARTERLY RESULTS Q3 2026 CORPORATION®
Slide 17: Profitability
17 PROFITABILITY NET INCOME AVAILABLE TO COMMON (1) DILUTED EARNINGS PER COMMON SHARE (1) In thousands. (2) Excludes merger related expenses and is a non-GAAP financial measure – see Appendix for reconciliations. (3) ROATCE is a non-GAAP financial measure – see Appendix for reconciliations. Quarterl
Slide 18: Loans and Deposits
18 LOANS AND DEPOSITS LOANS ($M) DEPOSITS ($M)(1) (1) Deposits excludes deposits held for sale. $6,485 $6,514 $6,621 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 Q3 2025 Q2 2026 Q3 2026 $6,900 $7,080 $7,048 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 Q3 2025 Q2 2026 Q3 2
Slide 19: Net Interest Margin & Efficiency Ratio
19 NET INTEREST MARGIN (“NIM”) & EFFICIENCY RATIO NIM(1) EFFICIENCY RATIO(1) (1) Net interest margin, fully tax equivalent and Adjusted efficiency ratio, fully tax equivalent are non-GAAP financial measures – see Appendix for reconciliations. Adjusted efficiency ratio fully tax equivalent excludes m
Slide 20: Loan Portfolio Composition
20 Commercial & industrial 27.3% Commercial mortgage 37.2% Residential real estate 33.5% Consumer & other 2.0% LOAN PORTFOLIO COMPOSITION 9/30/2026 LOAN PORTFOLIO COMPOSITION AVERAGE YIELD ON TOTAL LOANS & LOANS HELD FOR SALE ▪ Approximately 60.7% of the loan portfolio is variable rate 6.52% 6.38% 6
Slide 21: Additional Loan Portfolio Detail
21 Apartments 28.3% Lodging 17.2% Mixed Use 5.5% Office 6.4% Retail 8.3% Manufacturing 4.3% Student Housing 1.1% Warehouse 2.6% Storage Units 2.1% All Other 24.2% Manufacturing 15.7% Healthcare & Social Services 9.9% Retail 8.2% Construction 7.3% Finance and Insurance 10.1% Administrative and Suppor
Slide 22: Additional Commercial Mortgage Detail
22 ADDITIONAL COMMERCIAL MORTGAGE DETAIL HOSPITALITY (9/30/26)(1) (1) Markets are based upon metropolitan statistical areas. OFFICE (9/30/26)(1) MULTIFAMILY (9/30/26)(1) • Consists of 140 outstanding loans, totaling $132.0 million, or 1.99% of total loans outstanding • Nonaccrual commercial office l
Slide 23: Conservative Credit Culture
23 CONSERVATIVE CREDIT CULTURE 9/30/2026 NONACCRUAL LOANS BY TYPE HISTORICAL ASSET QUALITY NET CHARGE-OFFS/AVERAGE LOANS(1) Note: “NPAs” means Non-Performing Assets. “ACL” means Allowance for Credit Losses. (1) Quarterly “Q” calendar periods presented are annualized. 0.06% 0.09% 0.14% 0.00% 0.05% 0.
Slide 24: Deposit Mix
24 DEPOSIT MIX 9/30/2026 DEPOSIT MIX(1) AVERAGE COST DEPOSITS (1) Deposit Mix excludes deposits classified as Deposits held for sale on the balance sheet at 9/30/2026. 2.75% 2.42% 2.40% 2.30% 2.04% 2.01% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% Q 3 2 0 2 5 Q 2 2 0 2 6 Q 3 2 0 2 6 Cost of total inte
Slide 25: Securities Portfolio
25 U.S. Government sponsored entities 24.3% State & political subdivisions 10.0% Agency residential & multi-family mortgage- backed securities 61.7% Corporate notes & bonds 3.3% Pooled SBA 0.7% ▪ Total investment portfolio comprised of 11.1% of total assets, provides supplemental interest income to
Slide 26: Non-Interest Income
26 ▪ The quarter-over-quarter (“QoQ”) increase in Wealth and asset management fees was due to a $1.1 million transition fee for the Corporation moving its existing retail investment business platform to a new provider ▪ Lower Net realized and unrealized gains QoQ on equity securities was due to mark
Slide 27: Non-Interest Expense
27 ▪ The increase QoQ in Salaries and benefits was due to higher incentive compensation accruals ▪ The decrease QoQ in Legal, professional, and examination fees was driven by the reversal of a legal accrual assumed as part of the ESSA acquisition ▪ The QoQ decrease in Other non-interest expenses was
Slide 28: Consolidated Capital Position
28 CONSOLIDATED CAPITAL POSITION (1) Tangible common equity / Tangible assets is a non-GAAP financial measure - see Appendix for reconciliation. (2) Well-capitalized includes a 2.5% capital conservation buffer, resulting in minimum regulatory ratios of 7.0% Common Equity Tier 1 and 10.5% Total Risk-
Slide 29: Uninsured Deposits and Liquidity
29 UNINSURED DEPOSITS AND LIQUIDITY ▪ Well diversified and granular deposit base comprised of a combination of consumer, small business, commercial and public funds with an average deposit balance per account at CNB Bank of approximately $33 thousand ▪ Substantial available liquidity, which is well
Slide 30: Interest Rate Sensitivity
30 INTEREST RATE SENSITIVITY (1) The graph demonstrates the annualized result of an interest rate simulation and the estimated effect that a parallel interest rate shift, or "shock," in the yield curve and subjective adjustments in deposit pricing might have on the Corporation's projected net intere
Slide 31: Market Valuation: Price / Forward EPS
31 MARKET VALUATION • Franchise is undervalued compared to its Peer Financial Institutions • CNB has a long history of strong profitability levels across diversified markets • Long-term historical growth in loans and deposits should lead to growth-oriented valuation • Experienced Executive Managemen
Slide 32: Market Valuation: Price / Tangible Book Value
32 MARKET VALUATION • Franchise is undervalued compared to its Peer Financial Institutions • Substantial liquidity and exceptional capital levels support a top tier market value • Disciplined underwriting coupled with conservative credit culture support long-term shareholder value • Diversified bala
Slide 33: Awards & Recognitions
33 AWARDS & RECOGNITIONS • FHLB Pillars of the Community Award (2026) • Featured in NASDAQ’s Banking on You Series (2026) • CNB voted Best Bank in Progressland (2026) • ERIEBANK voted Best Bank – Meadville Tribune Readers Choice (2026) • ESSA voted Best Bank in the Pocono Record Community Choice Awa
Slide 34: Appendix
A P P E N D I X
Slide 35: Non-GAAP Reconciliation
35 NON-GAAP RECONCILIATION This presentation contains references to financial measures that are not defined in GAAP. Management uses non-GAAP financial information in its analysis of the Corporation’s performance. Management believes that these non-GAAP measures provide a greater understanding of on
Slide 36: Non-GAAP Reconciliation
36 NON-GAAP RECONCILIATION Dollars in thousands, except per share data September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Calculation of return on average tangible common equity (non-GAAP): Net income $ 19,990 $ 28,304 $ 28,061 $ 45,427 $ 83,401 Less: preferred
Slide 37: Non-GAAP Reconciliation
37 NON-GAAP RECONCILIATION Dollars in thousands, except per share data 2017 2018 2019 2020 2021 2022 2023 2024 2025 Calculation of return on average tangible common equity (non-GAAP): Net income $23,860 $33,719 $40,081 $32,743 $57,707 $63,188 $58,020 $54,575 $66,131 Less: preferred stock dividends -
Slide 38: Non-GAAP Reconciliation
38 NON-GAAP RECONCILIATION Dollars in thousands, except per share data 2017 2018 2019 2020 2021 2022 2023 2024 2025 Shareholders' Equity $243,910 $262,830 $304,966 $416,137 $442,847 $530,762 $571,247 $610,695 $872,127 Less: Preferred Equity - - - 57,785 57,785 57,785 57,785 57,785 57,785 Common Shar
Slide 39: Non-GAAP Reconciliation
39 NON-GAAP RECONCILIATION Dollars in thousands, except per share data 2025 2026 Shareholders' Equity $857,130 $912,550 Less: Preferred Equity 57,785 57,785 Common Shareholders' Equity 799,345 854,765 Less: goodwill and other intangibles 93,773 87,465 Less: core deposit intangible 34,727 30,646 Tang
Slide 40: Non-GAAP Reconciliation
40 NON-GAAP RECONCILIATION Dollars in thousands, except per share data September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Basic earnings per common share computation: Net income available to common shareholders $ 18,914 $ 27,229 $ 26,985 $ 42,201 $ 80,175 Less:
Slide 41: Non-GAAP Reconciliation
41 NON-GAAP RECONCILIATION Dollars in thousands, except per share data 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net Income Available to Common Shareholders $23,860 $33,719 $40,081 $31,596 $53,405 $58,886 $53,718 $50,273 $61,829 LESS: Net Income Allocated to Participating Securities 135 150 147 1
Slide 42: Non-GAAP Reconciliation
42 NON-GAAP RECONCILIATION September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Calculation of merger transaction related expenses, net of tax (non-GAAP) (1): Merger and integration costs - non deductible $ 1,570 $ - $ - $ 2,897 $ - Merger and integration costs -
Slide 43: Non-GAAP Reconciliation
43 NON-GAAP RECONCILIATION September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Calculation of return on average assets: Net income $ 19,990 $ 28,304 $ 28,061 $ 45,427 $ 83,401 Average total assets 7,798,867$ 8,475,376$ 8,387,702$ 6,757,473$ 8,409,827$ Return on
Slide 44: Non-GAAP Reconciliation
44 NON-GAAP RECONCILIATION September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Calculation of net interest margin: Interest income $ 108,645 $ 115,656 $ 114,997 $ 276,795 $ 342,691 Interest expense 41,516 39,312 38,692 109,038 116,719 Net interest income 67,129$
Slide 45: Non-GAAP Reconciliation
45 NON-GAAP RECONCILIATION September 30, 2025 June 30, 2026 September 30, 2026 September 30, 2025 September 30, 2026 Calculation of efficiency ratio: Non-interest expense $ 50,157 $ 50,708 $ 51,104 $ 130,812 $ 150,999 Non-interest income 10,566$ 11,302$ 11,489$ 28,081$ 32,789$ Net interest income 67
Slide 46: NASDAQ listing of common and preferred stock
The common and preferred stock of the Corporation trade on the NASDAQ Global Select Market under the symbols CCNE and CCNEP, respectively.