CNB Financial Q3 profit rises on ESSA deal
CCNE•CNB Financial reported Q3 net income of $28.06 million and earnings per share of $0.91, both sharply higher year over year, aided by its ESSA acquisition.
1. Quarterly results
CNB Financial’s Q3 net income was $28.06 million and earnings per share were $0.91, with both rising sharply year over year, aided by the ESSA acquisition. Revenue increased year over year on higher net interest income and loan growth, while deposits declined as the company exited higher-cost corporate deposits; underlying deposits rose.
