CNB Financial Corporation (CCNE) investor relations material

Executive summary

• Net income available to common shareholders was $27.2 million ($0.91 per diluted share) for Q2 2026, up from $26.0 million ($0.88) in Q1 2026 and $12.9 million ($0.61) in Q2 2025, reflecting strong post-merger performance and core franchise growth.

• Operating revenues rose 43% year-over-year to $87.6 million in Q2 2026, driven by the ESSA acquisition and organic growth in legacy divisions.

• Efficiency ratio improved to 56.14% in Q2 2026 from just under 65% in Q2 2025, indicating enhanced expense control and operational leverage.

• For the six months ended June 30, 2026, net income was $53.2 million ($1.79 per diluted share), up from $23.3 million ($1.10) in the prior year period.

• Adjusted earnings for Q2 2025 were $13.2 million ($0.63 per diluted share), excluding ESSA merger costs; Q2 2026 earnings rose $14.0 million year-over-year on this basis.

Financial highlights

• Net interest income for Q2 2026 was $76.3 million, up 46.3% year-over-year, with net interest margin (fully tax-equivalent) at 3.89%.

• Non-interest income for Q2 2026 was $11.3 million, up from $9.0 million in Q2 2025, driven by higher wealth management and card processing fees.

• Non-interest expense for Q2 2026 was $50.7 million, up from $39.6 million in Q2 2025, mainly due to ESSA-related costs.

• Return on average tangible common equity reached 15.20% in Q2 2026, up from 9.71% in Q2 2025.

• Tangible book value per common share was $24.73 at June 30, 2026.

Outlook and guidance

• Management expects further growth opportunities in commercial and retail deposit generation, with a focus on maximizing benefits from the ESSA merger and leveraging scale.

• Loan production offices and branch expansion will target contiguous markets with strong C&I opportunities.

• No material adverse events or regulatory recommendations are expected to impact liquidity, capital resources, or operations.

• Substantial liquidity and capital levels position the company to support growth and navigate market cycles.