CNB Financial Q1 EPS Falls to $0.88; Deposits Rise 1.6%
CNB Financial reported Q1 net income of $26.0 million, or $0.88 per diluted share, down from $1.10 sequentially and up from $0.50 year-over-year, with adjusted earnings marginally higher by $0.01. Organic loans fell 1.41% to $6.4 billion while deposits grew 1.62% to $7.1 billion.
1. Q1 2026 Earnings Decline and Y/Y Gains
For the quarter ended March 31, 2026, CNB Financial posted net income of $26.0 million, or $0.88 per diluted share, versus $32.6 million, or $1.10 per diluted share, in the prior quarter and $10.4 million, or $0.50 per diluted share, in Q1 2025; adjusted earnings, excluding merger and credit-loss adoption costs, edged up by $0.01 sequentially.
2. Loan and Deposit Trends
Excluding $78.3 million of syndicated loans, total loans declined to $6.4 billion, driven by $67.3 million (1.41%) of organic loan run-off largely from CRE prepayments. Total deposits increased by $115.0 million (1.62%) to $7.1 billion, supporting a net interest margin of 3.83%, essentially unchanged from the prior quarter.
3. Asset Quality and Capital Positions
Nonperforming assets rose to $49.2 million (0.58% of assets) from $42.2 million (0.50%), while net charge-offs improved to 0.06% annualized. Book value per share climbed to $28.06 from $27.63, and tangible book value increased to $23.97, reflecting modest capital accumulation.