CNB Financial Corporation Reports Third Quarter 2026 Results

CLEARFIELD, Pa., Oct. 21, 2026 (GLOBE NEWSWIRE) -- CNB Financial Corporation (“Corporation”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the three and nine months ended September 30, 2026.

Certain comparative financial information for the prior year's three and nine month periods 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. The recast primarily eliminates the recognition of Day 1 provision expense associated with acquired loans and records an allowance for credit losses as of the acquisition date. The adoption had no impact on the economics or cash flows of the acquired assets but affected the timing of credit loss expense recognition. This change is not the result of an error, correction, or restatement of previously issued financial statements, but rather, it enhances comparability among periods presented in accordance with applicable financial reporting guidance. Accordingly, certain comparative amounts presented herein differ from those previously reported for these prior year periods.

Key Financial Trends

• Earnings - Net income available to common shareholders ("earnings") was $27.0 million, or $0.91 per diluted share, for the three months ended September 30, 2026, compared to $27.2 million, or $0.91 per diluted share, for the three months ended June 30, 2026, and $18.9 million, or $0.69 per diluted share, for the three months ended September 30, 2025. Earnings for the three months ended September 30, 2026, decreased $244 thousand compared to earnings for the three months ended June 30, 2026, while diluted earnings per share remained unchanged at $0.91.

• • Adjusted earnings for the three months ended September 30, 2025, a non-GAAP measure, were $22.5 million, or $0.82 per diluted share, with adjusted earnings excluding after-tax merger and integration costs ("merger transaction related expenses") related to the Corporation’s acquisition of ESSA Bancorp, Inc. (“ESSA”).¹ Earnings for the three months ended September 30, 2026 increased $4.5 million, or $0.09 per diluted share, compared to adjusted earnings for the three months ended September 30, 2025.

• Loans - Total loans excluding $124.1 million of syndicated loan balances, or ("Organic Loans"), were $6.5 billion as of September 30, 2026. During the three months ended September 30, 2026, Organic Loans increased by $76.5 million, or 1.19% (4.73% annualized), from June 30, 2026.¹ The increase in Organic Loans was primarily driven by growth in commercial real estate and residential real estate loans.

• Deposits - At September 30, 2026, total deposits were $7.0 billion. During the three months ended September 30, 2026, deposits declined by $32.6 million, or 0.46% (1.83% annualized), compared to June 30, 2026. The third quarter of 2026 included the impact of the Bank's strategy to exit certain higher cost corporate deposits totaling approximately $76.1 million, with an average interest cost of 3.69%. Excluding the impact of this strategic corporate deposits exit, total deposits increased approximately $43.5 million, or 0.61% (2.44% annualized), compared to the second quarter of 2026. Noninterest-bearing deposits increased for the quarter by $13.5 million, or 1.18% (4.67% annualized), compared to June 30, 2026, primarily driven by additional and expanded treasury management customer relationships.

• Net Interest Margin - Net interest margin was 3.89% for the three months ended September 30, 2026, compared to 3.88% for the three months ended June 30, 2026. Net interest margin on a fully tax-equivalent basis, a non-GAAP measure, was 3.89% and 3.89%, for the three months ended September 30, 2026 and June 30, 2026, respectively.¹ Included in net interest margin on a fully tax-equivalent basis was $2.7 million and $4.8 million of purchase accounting loan accretion for the three months ended September 30, 2026 and June 30, 2026, respectively.

• Credit Quality - Total nonperforming assets were approximately $56.9 million, or 0.68% of total assets, as of September 30, 2026, compared to $58.4 million, or 0.69% of total assets, as of June 30, 2026. The decrease in nonperforming assets was primarily the result of charge-offs of approximately $1.6 million on one commercial and industrial relationship, as discussed in more detail below.

• • Net loan charge-offs for the three months ended September 30, 2026 were $2.4 million, or 0.14% (annualized) of average total loans and loans held for sale, compared to net loan charge-offs of $1.4 million, or 0.09% (annualized) of average total loans and loans held for sale, during the three months ended June 30, 2026. The increase in net loan charge-offs was primarily the result of charge-offs of approximately $1.6 million on one commercial and industrial relationship, as discussed in more detail below.

• Capital - Book value per common share was $28.86 and $28.75 at September 30, 2026 and June 30, 2026, respectively. Book value per common share at September 30, 2026 reflects an increase of $0.11, or 0.38%, compared to book value per common share at June 30, 2026. The increase in book value per common share was primarily due to an increase in retained earnings (net of the payment of common and preferred stock dividends), partially offset by a higher accumulated other comprehensive loss, primarily reflecting the after-tax impact of temporary unrealized valuation changes in the Corporation's available-for-sale investment portfolio due to changes in market yields relative to securities maturity dates, and not from other than temporary impairments.

• • Tangible book value per common share, a non-GAAP measure, was $24.87 and $24.73 as of September 30, 2026 and June 30, 2026, respectively.¹ Tangible book value per common share at September 30, 2026 reflects an increase of $0.14, or 0.57%, compared to the tangible book value per common share as of June 30, 2026.¹ The increase in tangible book value per common share was partially offset by a higher accumulated other comprehensive loss, primarily reflecting the after-tax impact of temporary unrealized valuation changes in the Corporation's available-for-sale investment portfolio.

¹ This release contains references to certain financial measures that are not defined by U.S. Generally Accepted Accounting Principles ("GAAP"). Management believes that these non-GAAP measures provide a greater understanding of ongoing operations, enhance the comparability of results of operations with prior periods, and reflect the effects of significant gains and charges in the periods presented. A reconciliation of these non-GAAP financial measures is provided in the "Reconciliation of Non-GAAP Financial Measures" section.

Executive Summary

• Earnings were $27.0 million, or $0.91 per diluted share, for the three months ended September 30, 2026, compared to $27.2 million, or $0.91 per diluted share, for the three months ended June 30, 2026, and $18.9 million, or $0.69 per diluted share, for the three months ended September 30, 2025. Earnings for the three months ended September 30, 2026, decreased $244 thousand compared to earnings for the three months ended June 30, 2026, while diluted earnings per share remained unchanged at $0.91.

• • Adjusted earnings for the three months ended September 30, 2025, a non-GAAP measure, were $22.5 million, or $0.82 per diluted share, with adjusted earnings excluding merger transaction related expenses related to the Corporation’s acquisition of ESSA.¹ Earnings for the three months ended September 30, 2026 increased $4.5 million, or $0.09 per diluted share, compared to adjusted earnings for the three months ended September 30, 2025, due to organic growth coupled with the overall impact of the acquisition of ESSA.¹

• Earnings were $80.2 million, or $2.69 per diluted share, for the nine months ended September 30, 2026, compared to $42.2 million, or $1.81 per diluted share, for the nine months ended September 30, 2025.

• • Adjusted earnings for the nine months ended September 30, 2025, a non-GAAP measure, were $47.6 million, or $2.05 per diluted share, with adjusted earnings excluding merger transaction related expenses related to the Corporation’s acquisition of ESSA.¹ Earnings for the nine months ended September 30, 2026 increased $32.6 million, or $0.64 per diluted share, compared to adjusted earnings for the nine months ended September 30, 2025, due primarily to the overall impact of the acquisition of ESSA.¹

• At September 30, 2026, loans totaled $6.5 billion, excluding $124.1 million of syndicated loans. Organic Loans increased $76.5 million, or 1.19% (4.73% annualized), compared to June 30, 2026. Organic Loan growth was $83.8 million, or 1.31%, compared to September 30, 2025. The increase in loans for the quarter ended September 30, 2026, compared to the quarter ended June 30, 2026, was primarily driven by increases in commercial real estate and residential real estate loans. The year-over-year growth in loans as of September 30, 2026, compared to September 30, 2025, was primarily driven by growth in the Ridge View Bank and ERIEBANK markets. The year-over-year growth was also significantly impacted by an increased level of commercial real estate ("CRE") loan prepayments, including full repayments of $71.4 million of CRE loans acquired in 2025 as a result of the ESSA acquisition, and a full payoff of $40.0 million of the Corporation’s largest office building loan related to a CRE property in the BankOnBuffalo division.

• • At September 30, 2026, the syndicated loan portfolio totaled $124.1 million, or 1.87% of total loans, compared to $93.9 million, or 1.44% of total loans, at June 30, 2026 and $71.9 million, or 1.11% of total loans, at September 30, 2025. The increase in syndicated lending balances of $30.2 million compared to June 30, 2026, which includes both new credits as well as additional credit extensions on existing quality borrowers, reflects the Corporation's continued focus on evaluating the level and composition of its syndicated loan portfolio to ensure it continues to provide strong credit quality and profitable use of excess liquidity, while complementing the Corporation’s loan growth from its in-market customer relationships. The Corporation’s portfolio of syndicated credits includes only commercial and industrial loans and no CRE exposure.

• At September 30, 2026, total deposits were $7.0 billion. Deposits declined for the quarter by $32.6 million, or 0.46% (1.83% annualized), compared to June 30, 2026. The third quarter of 2026 included the strategic exit of higher cost corporate deposits totaling approximately $76.1 million, with an average interest cost of 3.69%. Excluding the impact of the corporate deposits exit, total deposits increased approximately $43.5 million, or 0.61% (2.44% annualized), compared to the second quarter of 2026. Total deposits increased $147.6 million, or 2.14%, compared to September 30, 2025. The year-over-year growth in deposits as of September 30, 2026, compared to September 30, 2025, was primarily driven by both additional and expanded treasury management customer relationships. Noninterest-bearing deposits increased for the quarter by $13.5 million, or 1.18% (4.67% annualized), compared to June 30, 2026, were also the result of additional and expanded treasury management customer relationships. The $78.0 million in deposits classified as held for sale as of September 30, 2026 are associated with a planned sale of certain customer deposit accounts that are part of a broader strategic initiative to optimize the Corporation’s branch and market footprint following the ESSA acquisition. Additional deposit and liquidity profile details were as follows:

• • At September 30, 2026, the total estimated uninsured deposits for CNB Bank were approximately $2.1 billion, or 30.02% of total CNB Bank deposits. When excluding $22.3 million of affiliate company deposits and $760.4 million of pledged-investment collateralized deposits, adjusted total estimated uninsured deposits as of September 30, 2026 were approximately $1.4 billion, or 19.07% of total CNB Bank deposits.

• • • Total estimated uninsured deposits for CNB Bank at June 30, 2026 were approximately $2.1 billion, or approximately 28.83% of total CNB Bank deposits. Excluding $21.2 million of affiliate company deposits and $704.2 million of pledged-investment collateralized deposits, adjusted total estimated uninsured deposits as of June 30, 2026 were approximately $1.3 billion, or approximately 18.73% of total CNB Bank deposits.

• • At September 30, 2026, the Corporation had $221.2 million of cash equivalents held at CNB Bank’s interest-bearing deposit account at the Federal Reserve. These excess funds, when combined with total contingent liquidity resources of $6.2 billion including (i) available borrowing capacity from both the Federal Home Loan Bank of Pittsburgh ("FHLB") and the Federal Reserve, and (ii) available unused commitments from brokered deposit sources and other third-party funding channels, including previously established lines of credit from correspondent banks, resulted in the total available liquidity sources for the Corporation as of September 30, 2026 of approximately 4.7 times the estimated amount of adjusted uninsured deposit balances discussed above.

• At September 30, 2026 and June 30, 2026, the Corporation had $164.0 million outstanding in short-term borrowings. The Corporation had $181.6 million outstanding short-term borrowings at September 30, 2025. The decrease in short-term borrowings at September 30, 2026 compared to September 30, 2025 was attributable to the repayment of certain borrowings assumed with the ESSA acquisition.

• At September 30, 2026, the Corporation's pre-tax net unrealized losses on the combined portfolios of available-for-sale and held-to-maturity securities totaled $81.9 million, or 8.98% of total shareholders' equity, compared to $54.8 million, or 6.02% of total shareholders' equity, at June 30, 2026, and $49.8 million, or 5.81% of total shareholders' equity, at September 30, 2025. The change in unrealized losses during the third quarter of 2026 compared to the second quarter of 2026, as well as for the quarter ended September 30, 2025, was primarily due to changes in the yield curve, coupled with the Corporation’s scheduled bond maturities, which were all realized at par. Importantly, all regulatory capital ratios for the Corporation would still exceed regulatory “well-capitalized” levels as of September 30, 2026, June 30, 2026, and September 30, 2025 if the net unrealized losses at the respective dates were fully recognized.

• Total nonperforming assets were $56.9 million, or 0.68% of total assets, as of September 30, 2026, compared to $58.4 million, or 0.69% of total assets, as of June 30, 2026, and were $40.4 million, or 0.49% of total assets, as of September 30, 2025. The decrease of $1.6 million at September 30, 2026 compared to June 30, 2026 was primarily driven by charge-offs related to one commercial and industrial relationship during the third quarter of 2026. After the $1.6 million charge-off at September 30, 2026, the relationship had an outstanding balance of $3.0 million and a related reserve of approximately $2.0 million. The $16.5 million increase in nonperforming assets at September 30, 2026, compared to September 30, 2025, was primarily driven by two previously disclosed relationships: a commercial and industrial relationship totaling $7.2 million and a commercial relationship totaling $6.8 million. Net loan charge-offs for the three months ended September 30, 2026 were $2.4 million, or 0.14% (annualized) of average total loans and loans held for sale, compared to net loan charge-offs of $1.4 million, or 0.09% (annualized) of average total loans and loans held for sale, during the three months ended June 30, 2026, and $957 thousand, or 0.06% (annualized) of average total loans and loans held for sale, during the three months ended September 30, 2025.

• Pre-provision net revenue ("PPNR"), a non-GAAP measure, was $36.7 million for the three months ended September 30, 2026 and $36.9 million and $27.5 million for the three months ended June 30, 2026 and September 30, 2025, respectively.¹ Excluding merger and integration costs, adjusted PPNR was $31.7 million for the three months ended September 30, 2025.¹ The quarter-over-quarter change in PPNR was driven by higher non-interest expense, partially offset by an increase in non-interest income. For the three months ended September 30, 2026, the increase in PPNR compared to the three months ended September 30, 2025 was primarily attributable to stronger net interest income and non-interest income, partially offset by higher non-interest expenses. PPNR was $107.8 million for the nine months ended September 30, 2026, compared to $65.0 million for the nine months ended September 30, 2025.¹ Excluding merger and integration costs, adjusted PPNR was $71.1 million for the nine months ended September 30, 2025.¹ The year-to-date 2026 PPNR when compared to the same year-to-date period in 2025 PPNR, excluding merger and integration costs, reflected increases in net interest income and non-interest income, partially offset by an increase in non-interest expense.

"Earnings of $2.69 per diluted share for the first nine months of 2026 were a record for the Corporation versus comparable periods in any prior years, as we sustained positive operating performance in the third quarter consistent with the first half of 2026,” stated Michael Peduzzi, President and CEO of both the Corporation and CNB Bank. “The expanded revenue base and operating efficiencies realized as a result of the ESSA acquisition in July 2025 have added to the continuing solid performance in our legacy banking divisions across our four-state footprint. We continue to realize qualitative growth from both new and expanded relationships in lending and treasury management activities, and see a sound loan production pipeline and both retail and treasury management deposit growth opportunities entering the fourth quarter. Despite the headwinds of an increased yield curve contributing to increased temporary after-tax unrealized losses on our available-for-sale investment portfolio, we continue to have sustained post-dividend retained earnings to favorably accrete tangible book value as we strive to achieve an acceleration of the post-acquisition earn-back period when compared to our pre-merger model projections. We remain well-positioned from an interest rate risk management position to sustain a positive net interest margin in the current changing interest rate environment. Complementing our core operating activities, we also implemented a tax management strategy to purchase renewable energy tax credits at a discount, and apply them to reduce our income tax expense. Importantly, all of these activities are conducted upon an operating foundation reflecting our ongoing commitment to disciplined underwriting, enterprise risk management and sound controls, and effective but well-secured use of expanded technological capabilities. We are pleased with our current financial position and our sustained earnings momentum."

Other Balance Sheet Highlights

• Book value per common share was $28.86, $28.75, and $27.12 at September 30, 2026, June 30, 2026, and September 30, 2025, respectively. Excluding the after-tax impact of merger transaction related expenses, book value per common share was $27.30 at September 30, 2025.¹ Book value per common share at September 30, 2026 reflects an increase of $0.11, or 0.38%, compared to book value per common share at June 30, 2026. The increase in book value per common share from June 30, 2026 to September 30, 2026 was primarily due to an increase in retained earnings (net of the payment of common and preferred stock dividends), partially offset by an increase in accumulated other comprehensive loss primarily from the after-tax impact of temporary unrealized valuation changes in the Corporation’s available-for-sale investment portfolio. The increase in book value per common share of $1.56, or 5.71%, from September 30, 2025 to September 30, 2026, when excluding the after-tax impact of merger transaction related expenses, was primarily driven by growth in retained earnings, net of common and preferred stock dividends, partially offset by a higher accumulated other comprehensive loss, primarily reflecting the after-tax impact of temporary unrealized valuation changes in the Corporation's available-for-sale investment portfolio.¹

• Tangible book value per common share, a non-GAAP measure, was $24.87, $24.73, and $22.76 as of September 30, 2026, June 30, 2026, and September 30, 2025, respectively.¹ Excluding the after-tax impact of merger transaction related expenses, tangible book value per common share was $22.94 as of September 30, 2025.¹ Tangible book value per common share for September 30, 2026 reflects an increase of $0.14, or 0.57%, compared to tangible book value per common share as of June 30, 2026. Adjusted tangible book value per common share (non-GAAP) increased $1.93, or 8.41%, from September 30, 2025 to September 30, 2026, primarily due to growth in retained earnings, net of common and preferred stock dividends, partially offset by a higher accumulated other comprehensive loss, primarily reflecting the after-tax impact of temporary unrealized valuation changes in the Corporation's available-for-sale investment portfolio.¹

Loan Portfolio Profile

• As part of its lending policy and credit risk management activities, the Corporation tracks lending exposure by industry classification and type to determine potential risks associated with industry concentrations, and to identify any concentration risk issues that could lead to additional credit loss exposure. An important and recurring part of this process involves the Corporation’s continued measurement and evaluation of its exposure to the office, hospitality, and multifamily industries within its commercial real estate portfolio. Even with the Corporation’s historically sound underwriting protocols and high credit quality standards for borrowers in the commercial real estate industry segments, the Corporation monitors numerous relevant sensitivity elements, including occupancy, loan-to-value, absorption and cap rates, debt service coverage and covenant compliance, and developer/lessor financial strength both in the project and globally. At September 30, 2026, the Corporation had the following key metrics related to its office, hospitality, and multifamily portfolios with such metrics including the impact on the respective portfolios of loans acquired during the third quarter of 2025 from the ESSA acquisition, as well as notable early payoffs of larger CRE credits occurring in the first quarter of 2026 as previously noted:

• • Commercial office loans:
    • There were 140 outstanding loans, totaling $132.0 million, or 1.99% of total loans outstanding;
    • There were two nonaccrual commercial office loans that totaled $2.0 million, or 1.55% of total commercial office loans outstanding;
    • There was one past-due commercial office loan that totaled $202 thousand, or 0.15% of the total commercial office loans outstanding; and
    • The average outstanding balance per commercial office loan was $943 thousand.

• • Commercial hospitality loans:
    • There were 148 outstanding loans, totaling $370.2 million, or 5.59% of total loans outstanding;
    • There were no nonaccrual commercial hospitality loans;
    • There were no past-due commercial hospitality loans; and
    • The average outstanding balance per commercial hospitality loan was $2.5 million.

• • Commercial multifamily loans:
    • There were 331 outstanding loans, totaling $539.7 million, or 8.15% of total loans outstanding;
    • There were two nonaccrual commercial multifamily loans that totaled $721 thousand, or 0.13% of total multifamily loans outstanding;
    • There were four past-due commercial multifamily loans that totaled $2.9 million, or 0.54% of total multifamily loans outstanding; and
    • The average outstanding balance per commercial multifamily loan was $1.6 million.

The Corporation had no commercial office, hospitality or multifamily loan relationships considered by the banking regulators to be high volatility commercial real estate ("HVCRE") credits. No credits acquired from ESSA were considered HVCRE.

Performance Ratios

• Annualized return on average equity was 12.09%, 12.65%, and 10.05% for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively. Excluding the impact of merger transaction related expenses, annualized return on average equity was 11.86% for the three months ended September 30, 2025.¹ Annualized return on average equity was 12.38% for the nine months ended September 30, 2026. Annualized return on average equity was 8.93% for the nine months ended September 30, 2025. Excluding the impact of merger transaction related expenses, annualized return on average equity was 9.99% for the nine months ended September 30, 2025.¹

• Annualized return on average tangible common equity, a non-GAAP measure, was 14.39%, 15.20% and 12.03% for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.¹ Excluding the impact of merger transaction related expenses, annualized return on average tangible common equity was 14.33% for the three months ended September 30, 2025.¹ Annualized return on average tangible common equity was 14.84% for the nine months ended September 30, 2026. Annualized return on average tangible common equity was 10.13% for the nine months ended September 30, 2025. Excluding the impact of merger transaction related expenses, annualized return on average tangible common equity was 11.42% for the nine months ended September 30, 2025.¹

• The Corporation's efficiency ratio was 58.21%, 57.86% and 64.56% for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively, and 56.53%, 56.14% and 62.97%, respectively, on a fully tax-equivalent basis, a non-GAAP measure.¹ Excluding merger and integration costs, the efficiency ratio on a fully tax-equivalent basis was 57.67% for the three months ended September 30, 2025.¹ The linked-quarter increase, on a fully tax-equivalent basis, represented an increase of 39 basis points compared to June 30, 2026, primarily driven by higher non-interest expense, as further discussed below. The year-over-year decrease was primarily driven by an increase in net interest income, partially offset by an increase in non-interest expense. The Corporation's efficiency ratio was 58.35% for the nine months ended September 30, 2026, and 56.65% on a fully tax-equivalent basis, a non-GAAP measure.¹ The Corporation's efficiency ratio was 66.80% for the nine months ended September 30, 2025, and 65.74% on a fully tax-equivalent basis, a non-GAAP measure.¹ Excluding merger and integration costs, the efficiency ratio on a fully tax-equivalent basis was 62.68% for the nine months ended September 30, 2025. The year-over-year decrease was primarily driven by higher net interest income, partially offset by higher non-interest expense.

Revenue

• Total revenue (net interest income plus non-interest income) was $87.8 million for the three months ended September 30, 2026, compared to $87.6 million and $77.7 million for the three months ended June 30, 2026 and September 30, 2025, respectively.

• • Net interest income was $76.3 million for the three months ended September 30, 2026, compared to $76.3 million and $67.1 million for the three months ended June 30, 2026 and September 30, 2025, respectively. Net interest income increased $9.2 million, or 13.67%, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, primarily reflecting the impact of the ESSA acquisition and growth in the Corporation's legacy loan portfolio.

• • Net interest margin was 3.89%, 3.88%, and 3.69% for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively. Net interest margin on a fully tax-equivalent basis, a non-GAAP measure, was 3.89%, 3.89% and 3.69% for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.¹ Excluding the $2.7 million, $4.8 million, and $3.4 million in purchase accounting loan accretion realized in the third quarter of 2026, second quarter of 2026, and third quarter of 2025, respectively, the net interest margin on a fully tax-equivalent basis for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, was 3.75%, 3.65%, and 3.50%, respectively.¹

• • • The yield on earning assets of 5.85% for the three months ended September 30, 2026 decreased 3 basis points compared to the three months ended June 30, 2026 and decreased 11 basis points compared to the three months ended September 30, 2025. The decrease in yield in the third quarter of 2026 compared to the quarter ended June 30, 2026 was primarily attributable to a decrease in purchase accounting loan accretion. The decrease in yield during the third quarter of 2026 compared to the third quarter of 2025 was primarily attributable to lower average loan yields resulting from the Federal Reserve interest rate decreases during 2025.

• • • The cost of interest-bearing liabilities was 2.48% for the three months ended September 30, 2026, reflecting decreases of 2 basis points and 35 basis points from the three months ended June 30, 2026 and the three months ended September 30, 2025, respectively. The decrease in the cost of interest-bearing liabilities is primarily the result of the Corporation’s targeted interest-bearing deposit rate decreases.

• Total revenue was $258.8 million for the nine months ended September 30, 2026 compared to $195.8 million for the nine months ended September 30, 2025.

• • Net interest income was $226.0 million for the nine months ended September 30, 2026 compared to $167.8 million for the nine months ended September 30, 2025. When comparing the nine months ended September 30, 2026 to the nine months ended September 30, 2025, the increase in net interest income of $58.2 million, or 34.70% (46.40% annualized), was primarily due to the impact of the ESSA acquisition and growth in the Corporation's legacy loan portfolio.

• • Net interest margin was 3.87% and 3.57% for the nine months ended September 30, 2026 and September 30, 2025, respectively. Net interest margin on a fully tax-equivalent basis, a non-GAAP measure, was 3.87% and 3.56% for the nine months ended September 30, 2026 and September 30, 2025, respectively.¹ Excluding the $10.6 million and $3.4 million in purchase accounting loan accretion realized for the nine months ended September 30, 2026 and 2025, respectively, the net interest margin on a fully tax-equivalent basis was 3.69% and 3.49%, respectively.¹

• • • The yield on earning assets of 5.86% for the nine months ended September 30, 2026 decreased 1 basis point from September 30, 2025. The decrease in yield compared to September 30, 2025 was attributable to Federal Reserve interest rate decreases since mid-September 2025 until the most recent Federal Reserve rate increase in September 2026, partially offset by growth in higher-yielding securities.

• • • The cost of interest-bearing liabilities of 2.50% for the nine months ended September 30, 2026 favorably decreased by 38 basis points from September 30, 2025, primarily the result of the Corporation’s targeted interest-bearing deposit rate decreases in response to the Federal Reserve rate decreases, coupled with the benefit of ESSA’s lower overall interest cost of deposits.

• Total non‑interest income was $11.5 million for the three months ended September 30, 2026, compared to $11.3 million and $10.6 million for the three months ended June 30, 2026 and September 30, 2025, respectively. The quarter-over-quarter increase was primarily attributable to an increase in wealth and asset management fees and treasury management fees, partially offset by a decrease in net realized and unrealized gains on equity securities and gains from recoveries of acquired loans. The primary 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. The year-over-year increase in non-interest income was primarily driven by increases in wealth and asset management fees, including the platform provider change transition fee, treasury management fees, and card processing and interchange income, partially offset by lower net realized and unrealized gains on equity securities and a decrease in net realized gains on available-for-sale securities.

• Total non-interest income was $32.8 million for the nine months ended September 30, 2026 compared to $28.1 million for the nine months ended September 30, 2025. This increase was primarily due to higher wealth and asset management fees (including the transition fee), treasury management fees, card processing and interchange income, mortgage banking income, and service charges on deposits, partially offset by lower pass-through income from small business investment companies ("SBICs").

Non-Interest Expense

• For the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, total non‑interest expense was $51.1 million, $50.7 million, and $50.2 million, respectively. Excluding merger and integration costs, total non‑interest expense for the three months ended September 30, 2025 was $46.0 million.¹ The quarter-over-quarter increase of $396 thousand, or 0.78%, was primarily driven by increases in salaries and benefits, partially offset by decreases in legal, professional, and examination fees and other non-interest expenses, including the timing of business development-related costs and other real estate owned expenses. The increase in salaries and benefits was driven primarily by an increase in incentive compensation accruals. The decrease in legal, professional, and examination fees was driven by the reversal of a legal accrual assumed as part of the ESSA acquisition. Excluding merger and integration costs, the $5.1 million, or 11.09%, increase in non-interest expense compared to the three months ended September 30, 2025 was primarily attributable to personnel, software licensing expenses, higher core system volume-based fees, and other operating costs associated with the ESSA acquisition.

• For the nine months ended September 30, 2026, total non-interest expense was $151.0 million compared to $130.8 million for the nine months ended September 30, 2025. Excluding merger and integration costs, total non‑interest expense for the nine months ended September 30, 2025 was $124.8 million.¹ Excluding merger and integration costs, the increase of $26.2 million, or 21.02%, compared to the nine months ended September 30, 2025, was primarily attributable to higher personnel, occupancy and facilities costs, software licensing expenses, increased core system volume-based fees, and other operating costs associated with the ESSA acquisition.

Income Taxes

• Income tax expense for the three months ended September 30, 2026 was $5.2 million, representing a 15.53% effective tax rate, compared to $6.9 million, representing a 19.50% effective tax rate, for the three months ended June 30, 2026, and $5.5 million, representing a 21.51% effective tax rate, for the three months ended September 30, 2025. Income tax expense for the three months ended September 30, 2026 included the recognition of $1.2 million in renewable energy tax credits. Income tax expense for the nine months ended September 30, 2026 was $18.1 million, representing a 17.84% effective tax rate (including the benefit of the renewable energy tax credits), compared to $11.6 million, representing a 20.39% effective tax rate, for the nine months ended September 30, 2025.

Asset Quality

• Total nonperforming assets were $56.9 million, or 0.68% of total assets, as of September 30, 2026, compared to $58.4 million, or 0.69% of total assets, as of June 30, 2026, and $40.4 million, or 0.49% of total assets, as of September 30, 2025, as discussed in more detail above.

• The allowance for credit losses measured as a percentage of total loans was 1.04% as of September 30, 2026, June 30, 2026, and September 30, 2025, respectively. In addition, the allowance for credit losses as a percentage of nonaccrual loans was 127.89% as of September 30, 2026, compared to 123.00% and 187.94% as of June 30, 2026 and September 30, 2025, respectively.

• The provision for credit losses was $3.5 million for the three months ended September 30, 2026, compared to $1.8 million for the three months ended June 30, 2026, and $2.1 million for the three months ended September 30, 2025. The $1.7 million quarter-over-quarter increase in the provision for credit losses was primarily driven by a $1.6 million charge-off on one commercial loan relationship, as discussed in more detail above. The $1.4 million increase compared to the three months ended September 30, 2025, was primarily attributable to the $1.6 million charge-off on one commercial loan relationship, as discussed in more detail above. The provision for credit losses was $6.2 million for the nine months ended September 30, 2026, compared to $8.0 million for the nine months ended September 30, 2025. The $1.7 million decrease in the provision for credit losses compared to the nine months ended September 30, 2025, was primarily attributable to lower net loan charge-offs.

• As discussed in more detail above, for the three months ended September 30, 2026, net loan charge-offs were $2.4 million, or 0.14% (annualized) of average total loans and loans held for sale, compared to $1.4 million, or 0.09% (annualized) of average total loans and loans held for sale, during the three months ended June 30, 2026, and $957 thousand, or 0.06% (annualized) of average total loans and loans held for sale, during the three months ended September 30, 2025. Net loan charge-offs were $4.7 million, or 0.10% (annualized) for the nine months ended September 30, 2026, compared to $5.7 million, or 0.15% (annualized) for the nine months ended September 30, 2025.

Capital

• As of September 30, 2026, the Corporation’s total shareholders’ equity was $912.6 million, representing an increase of $3.1 million, or 0.34%, from June 30, 2026, and an increase of $55.4 million, or 6.47%, from September 30, 2025. The quarter-over-quarter increase was primarily driven by growth in retained earnings of $21.4 million, net of the payment of common and preferred stock dividends, partially offset by a $19.3 million increase in accumulated other comprehensive loss. The year-over-year increase was primarily driven by a $77.6 million increase in retained earnings, net of the payment of common and preferred stock dividends, partially offset by a $25.3 million increase in accumulated other comprehensive loss, during the twelve months ended September 30, 2026.

• Regulatory capital ratios for the Corporation continue to exceed regulatory “well-capitalized” levels as of September 30, 2026, consistent with prior periods.

• As of September 30, 2026, the Corporation’s ratio of common shareholders' equity to total assets was 10.19% compared to 10.10% at June 30, 2026 and 9.66% at September 30, 2025. As of September 30, 2026, June 30, 2026, and September 30, 2025, the Corporation’s ratio of tangible common equity to tangible assets, a non-GAAP measure, was 8.91%, 8.81%, and 8.24%, respectively.¹ Excluding merger transaction related expenses, the Corporation’s ratio of tangible common equity to tangible assets, a non-GAAP measure, as of September 30, 2025 was 8.30%.¹ The increase in the ratio of tangible common equity to tangible assets compared to September 30, 2025 was primarily the result of an increase in retained earnings (net of the payment of common and preferred stock dividends), partially offset with an increase in accumulated other comprehensive loss.

Conference Call

The Corporation will host an earnings conference call on Thursday, October 29, 2026 at 1:00 p.m. Eastern Time. The direct dial number for the call is (877) 270-2148. Participants should ask to join the CNB Financial Corporation earnings conference call. For those unable to participate in the conference call, a replay will be available. To access the replay, please dial (855) 669-9658 using the access code 9257616, from two hours after the end of the call until November 12, 2026. The conference call, as well as the replay, are also available (listen-only) by internet webcast at https://cnbbank.q4ir.com/events-and-presentations/events.

About CNB Financial Corporation

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $8.4 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, and 79 offices comprised of one loan production office, one mobile office, two limited-service offices, and 75 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Bank, headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Columbus, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; Ridge View Bank, based in Roanoke, Virginia, with offices in the Southwest Virginia region; and ESSA Bank, based in Stroudsburg, Pennsylvania, with offices in Northeast Pennsylvania, including the Lehigh Valley region. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank.

Forward-Looking Statements

This press release 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 the Corporation’s financial condition, liquidity, results of operations, future performance and business. These forward-looking statements are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond the Corporation’s control). Forward-looking statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would” and “could.” The Corporation’s actual results may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Such known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, include, but are not limited to, (i) adverse changes or conditions in capital and financial markets, including actual or potential stresses in the banking industry; (ii) changes in interest rates; (iii) the credit risks of lending activities, including our ability to estimate credit losses and the allowance for credit losses, as well as the effects of changes in the level of, and trends in, loan delinquencies and write-offs; (iv) effectiveness of our data security controls in the face of cyber attacks and any reputational risks following a cybersecurity incident; (v) changes in general business, industry or economic conditions or competition; (vi) changes in any applicable law, rule, regulation, policy, guideline or practice governing or affecting financial holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise; (vii) adverse economic effects from international trade disputes, including threatened or implemented tariffs imposed by the U.S. and threatened or implemented tariffs imposed by foreign countries in retaliation, or similar events impacting economic activity; (viii) higher than expected costs or other difficulties related to integration of combined or merged businesses; (ix) the effects of business combinations and other acquisition transactions, including the inability to realize our loan and investment portfolios; (x) changes in the quality or composition of our loan and investment portfolios; (xi) adequacy of loan loss reserves; (xii) increased competition; (xiii) loss of certain key officers; (xiv) deposit attrition; (xv) rapidly changing technology; (xvi) unanticipated regulatory or judicial proceedings and liabilities and other costs; (xvii) changes in the cost of funds, demand for loan products or demand for financial services; and (xviii) other economic, competitive, governmental or technological factors affecting our operations, markets, products, services and prices. Such developments could have an adverse impact on the Corporation's financial position and results of operations. For more information about factors that could cause actual results to differ from those discussed in the forward-looking statements, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of and the forward-looking statement disclaimers in the Corporation’s annual and quarterly reports filed with the Securities and Exchange Commission.

The forward-looking statements are based upon management’s beliefs and assumptions and are made as of the date of this press release. Factors or events that could cause the Corporation’s actual results to differ may emerge from time to time, and it is not possible for the Corporation to predict all of them. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements included in this press release or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise, except to the extent required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur and you should not put undue reliance on any forward-looking statements.

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Income Statement
Interest and fees on loans	$	103,943			$	102,336			$	98,092			$	307,606			$	245,879
Interest and dividends on securities and cash and cash equivalents		11,054				13,320				10,553				35,085				30,916
Interest expense		(38,692	)			(39,312	)			(41,516	)			(116,719	)			(109,038	)
Net interest income		76,305				76,344				67,129				225,972				167,757
Provision for credit losses		3,471				1,777				2,069				6,246				7,963
Net interest income after provision for credit losses		72,834				74,567				65,060				219,726				159,794
Non-interest income
Wealth and asset management fees		3,672				2,728				2,359				8,757				6,264
Service charges on deposit accounts		2,144				2,010				2,222				6,188				5,592
Other service charges and fees		464				417				480				1,303				1,417
Net realized gains on available-for-sale securities		—				—				397				331				397
Net realized and unrealized gains (losses) on equity securities		3				707				664				621				982
Mortgage banking		437				269				196				1,047				464
Bank owned life insurance		1,046				1,167				975				3,199				2,711
Card processing and interchange income		2,840				2,804				2,336				8,230				6,721
Other non-interest income		883				1,200				937				3,113				3,533
Total non-interest income		11,489				11,302				10,566				32,789				28,081
Non-interest expenses
Salaries and benefits		24,705				22,712				23,339				72,400				63,251
Net occupancy expense of premises		4,987				5,085				4,823				15,521				12,893
Technology expense		7,417				7,205				5,485				21,803				16,325
Amortization of core deposit intangible		1,025				1,016				780				3,046				813
Advertising expense		662				728				754				2,178				1,824
State and local taxes		1,849				2,046				1,292				4,716				3,885
Legal, professional, and examination fees		1,145				1,718				1,637				3,635				3,483
FDIC insurance premiums		1,255				1,021				940				3,083				2,862
Card processing and interchange expenses		1,453				1,470				1,300				4,430				3,713
Merger and integration costs		—				—				4,155				—				6,041
Other non-interest expense		6,606				7,707				5,652				20,187				15,722
Total non-interest expenses		51,104				50,708				50,157				150,999				130,812
Income before income taxes		33,219				35,161				25,469				101,516				57,063
Income tax expense		5,158				6,857				5,479				18,115				11,636
Net income		28,061				28,304				19,990				83,401				45,427
Preferred stock dividends		1,076				1,075				1,076				3,226				3,226
Net income available to common shareholders	$	26,985			$	27,229			$	18,914			$	80,175			$	42,201
Ending shares outstanding		29,620,028				29,621,999				29,477,429				29,620,028				29,477,429
Average diluted common shares outstanding		29,533,350				29,492,359				27,280,298				29,490,121				23,075,450
Diluted earnings per common share	$	0.91			$	0.91			$	0.69			$	2.69			$	1.81
Adjusted diluted earnings per common share (non-GAAP) (1)	$	0.91			$	0.91			$	0.82			$	2.69			$	2.05
Cash dividends per common share	$	0.19			$	0.19			$	0.18			$	0.57			$	0.54
Dividend payout ratio		21	%			21	%			26	%			21	%			30	%
Adjusted dividend payout ratio (non-GAAP) (1)		21	%			21	%			22	%			21	%			26	%

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Average Balances
Total loans and loans held for sale	$	6,564,103			$	6,461,656			$	5,983,731			$	6,501,582			$	5,086,204
Investment securities		926,156				940,950				843,441				929,894				815,050
Total earning assets		7,785,804				7,883,060				7,221,656				7,810,301				6,286,016
Total assets		8,387,702				8,475,376				7,798,867				8,409,827				6,757,473
Noninterest-bearing deposits		1,169,691				1,153,386				1,078,091				1,149,662				909,597
Interest-bearing deposits		5,940,381				6,031,354				5,477,057				5,972,370				4,873,469
Shareholders' equity		920,710				897,293				789,266				900,500				680,200
Tangible common shareholders' equity (non-GAAP) (1)		744,142				718,670				623,654				722,233				556,861
Average Yields (annualized)
Total loans and loans held for sale		6.31	%			6.38	%			6.52	%			6.35	%			6.48	%
Investment securities		3.42	%			3.47	%			2.89	%			3.37	%			2.83	%
Total earning assets		5.85	%			5.88	%			5.96	%			5.86	%			5.87	%
Interest-bearing deposits		2.40	%			2.42	%			2.75	%			2.43	%			2.82	%
Interest-bearing liabilities		2.48	%			2.50	%			2.83	%			2.50	%			2.88	%
Performance Ratios (annualized)
Return on average assets		1.33	%			1.34	%			1.02	%			1.33	%			0.90	%
Adjusted return on average assets (non-GAAP) (1)		1.33	%			1.34	%			1.20	%			1.33	%			1.01	%
Return on average equity		12.09	%			12.65	%			10.05	%			12.38	%			8.93	%
Adjusted return on average equity (non-GAAP) (1)		12.09	%			12.65	%			11.86	%			12.38	%			9.99	%
Return on average tangible common equity (non-GAAP) (1)		14.39	%			15.20	%			12.03	%			14.84	%			10.13	%
Adjusted return on average tangible common equity (non-GAAP) (1)		14.39	%			15.20	%			14.33	%			14.84	%			11.42	%
Net interest margin, fully tax equivalent basis (non-GAAP) (1)		3.89	%			3.89	%			3.69	%			3.87	%			3.56	%
Efficiency ratio, fully tax equivalent basis (non-GAAP) (1)		56.53	%			56.14	%			62.97	%			56.65	%			65.74	%
Net Loan Charge-Offs
CNB Bank net loan charge-offs	$	2,172			$	1,135			$	623			$	3,827			$	4,397
Holiday Financial net loan charge-offs		181				308				334				853				1,302
Total Corporation net loan charge-offs	$	2,353			$	1,443			$	957			$	4,680			$	5,699
Annualized net loan charge-offs / average total loans and loans held for sale		0.14	%			0.09	%			0.06	%			0.10	%			0.15	%

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	September 30, 2026				June 30, 2026				September 30, 2025
Ending Balance Sheet
Cash and due from banks	$	96,962			$	86,618			$	79,772
Interest-bearing deposits with Federal Reserve		221,181				364,781				351,943
Interest-bearing deposits with other financial institutions		7,202				7,040				6,373
Total cash and cash equivalents		325,345				458,439				438,088
Debt securities available-for-sale, at fair value		677,435				692,513				533,553
Debt securities held-to-maturity, at amortized cost		185,863				203,049				249,247
Equity securities		11,745				11,682				10,505
Loans held for sale		1,098				1,855				—
Loans receivable
Syndicated loans		124,085				93,859				71,852
Loans		6,496,541				6,420,002				6,412,731
Total loans receivable		6,620,626				6,513,861				6,484,583
Less: allowance for credit losses		(68,573	)			(67,455	)			(67,684	)
Net loans receivable		6,552,053				6,446,406				6,416,899
Goodwill and other intangibles		87,465				87,465				93,773
Core deposit intangible		30,646				31,672				34,727
Other assets		513,467				499,088				493,914
Total Assets	$	8,385,117			$	8,432,169			$	8,270,706
Noninterest-bearing demand deposits	$	1,161,425			$	1,147,907			$	1,105,414
Interest-bearing demand deposits		1,047,255				1,023,540				970,752
Savings		3,727,696				3,762,710				3,686,511
Certificates of deposit		1,111,491				1,146,307				1,137,590
Total deposits		7,047,867				7,080,464				6,900,267
Short-term borrowings		164,000				164,000				181,604
Subordinated debentures		20,620				20,620				20,620
Subordinated notes, net of issuance costs		35,000				35,000				84,798
Deposits held for sale		77,966				81,303				92,830
Other liabilities		127,114				141,335				133,457
Total liabilities		7,472,567				7,522,722				7,413,576
Common stock		—				—				—
Preferred stock		57,785				57,785				57,785
Additional paid in capital		425,553				424,486				421,770
Retained earnings		488,222				466,865				410,612
Treasury stock		(3,165	)			(3,129	)			(2,476	)
Accumulated other comprehensive loss		(55,845	)			(36,560	)			(30,561	)
Total shareholders' equity		912,550				909,447				857,130
Total liabilities and shareholders' equity	$	8,385,117			$	8,432,169			$	8,270,706
Book value per common share	$	28.86			$	28.75			$	27.12
Adjusted book value per common share (non-GAAP) (1)	$	28.86			$	28.75			$	27.30
Tangible book value per common share (non-GAAP) (1)	$	24.87			$	24.73			$	22.76
Adjusted tangible book value per common share (non-GAAP) (1)	$	24.87			$	24.73			$	22.94

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	September 30, 2026				June 30, 2026				September 30, 2025
Capital Ratios
Tangible common equity / tangible assets (non-GAAP) (1)		8.91	%			8.81	%			8.24	%
Adjusted tangible common equity / tangible assets (non-GAAP) (1)		8.91	%			8.81	%			8.30	%
Tier 1 leverage ratio (2)		10.57	%			10.19	%			9.34	%
Common equity tier 1 ratio (2)		12.19	%			12.02	%			10.48	%
Tier 1 risk-based ratio (2)		13.37	%			13.23	%			11.67	%
Total risk-based ratio (2)		14.67	%			14.53	%			13.97	%
Asset Quality Detail
Nonaccrual loans	$	53,618			$	54,842			$	36,013
Loans 90+ days past due and accruing		99				27				86
Total nonperforming loans		53,717				54,869				36,099
Other real estate owned and repossessed assets		3,140				3,554				4,254
Total nonperforming assets	$	56,857			$	58,423			$	40,353
Asset Quality Ratios
Nonperforming assets / Total loans + OREO		0.86	%			0.90	%			0.62	%
Nonperforming assets / Total assets		0.68	%			0.69	%			0.49	%
Ratio of allowance for credit losses on loans to nonaccrual loans		127.89	%			123.00	%			187.94	%
Allowance for credit losses / Total loans		1.04	%			1.04	%			1.04	%
Consolidated Financial Data Notes:
(1) 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 ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Corporation’s management believes that investors may use these non-GAAP measures to analyze the Corporation’s financial performance without the impact of unusual items or events that may obscure trends in the Corporation’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).
(2) Capital ratios as of September 30, 2026 are estimated pending final regulatory filings.

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	Average Balances, Income and Interest Rates on a Taxable Equivalent Basis
	Three Months Ended,
	September 30, 2026										June 30, 2026										September 30, 2025
	Average Balance				Annual Rate			Interest Inc./Exp.			Average Balance				Annual Rate			Interest Inc./Exp.			Average Balance				Annual Rate			Interest Inc./Exp.
ASSETS:
Securities:
Taxable (1) (4)	$	867,953			3.26	%		$	7,503		$	881,420			3.26	%		$	7,489		$	797,866			2.92	%		$	6,151
Tax-exempt (1) (2) (4)		21,715			2.77				163			22,677			2.81				169			24,531			2.62				174
Equity securities (1) (2)		36,488			7.89				726			36,853			9.16				842			21,044			1.79				95
Total securities (4)		926,156			3.42				8,392			940,950			3.47				8,500			843,441			2.89				6,420
Loans receivable:
Commercial (2) (3)		1,916,991			6.54				31,593			1,837,643			6.84				31,358			1,644,092			6.98				28,921
Commercial & residential mortgages and loans held for sale (2) (3)		4,511,322			6.09				69,230			4,489,655			6.07				67,922			4,212,211			6.19				65,752
Consumer (3)		135,790			10.23				3,500			134,358			10.31				3,452			127,428			11.52				3,701
Total loans receivable (3)		6,564,103			6.31				104,323			6,461,656			6.38				102,732			5,983,731			6.52				98,374
Interest-bearing deposits with the Federal Reserve and other financial institutions		295,545			3.70				2,756			480,454			4.11				4,921			394,484			4.19				4,165
Total earning assets		7,785,804			5.85			$	115,471			7,883,060			5.88			$	116,153			7,221,656			5.96			$	108,959
Noninterest-bearing assets:
Cash and due from banks		76,192										74,387										77,224
Premises and equipment		144,600										145,813										145,087
Other assets		448,828										439,235										416,992
Allowance for credit losses		(67,722	)									(67,119	)									(62,092	)
Total non interest-bearing assets		601,898										592,316										577,211
TOTAL ASSETS	$	8,387,702									$	8,475,376									$	7,798,867
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Demand—interest-bearing	$	1,043,288			0.96	%		$	2,517		$	1,046,730			0.92	%		$	2,406		$	913,337			1.00	%		$	2,291
Savings		3,748,029			2.47				23,361			3,815,404			2.50				23,774			3,501,326			2.86				25,200
Time		1,149,064			3.48				10,067			1,169,220			3.52				10,274			1,062,394			3.90				10,450
Total interest-bearing deposits		5,940,381			2.40				35,945			6,031,354			2.42				36,454			5,477,057			2.75				37,941
Short-term borrowings		164,000			4.03				1,664			164,000			3.96				1,619			218,871			4.08				2,251
Finance lease liabilities		17,995			5.31				241			18,014			5.30				238			18,079			5.49				250
Subordinated notes and debentures		55,620			6.01				842			96,435			4.16				1,001			105,380			4.04				1,074
Total interest-bearing liabilities		6,177,996			2.48			$	38,692			6,309,803			2.50			$	39,312			5,819,387			2.83			$	41,516
Demand—noninterest-bearing		1,169,691										1,153,386										1,078,091
Other liabilities		119,305										114,894										112,123
Total Liabilities		7,466,992										7,578,083										7,009,601
Shareholders’ equity		920,710										897,293										789,266
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	8,387,702									$	8,475,376									$	7,798,867
Interest income/Earning assets					5.85	%		$	115,471						5.88	%		$	116,153						5.96	%		$	108,959
Interest expense/Interest-bearing liabilities					2.48				38,692						2.50				39,312						2.83				41,516
Net interest spread					3.37	%		$	76,779						3.38	%		$	76,841						3.13	%		$	67,443
Interest income/Earning assets					5.85	%			115,471						5.88	%			116,153						5.96	%			108,959
Interest expense/Earning assets					1.96				38,692						1.99				39,312						2.27				41,516
Net interest margin (fully tax-equivalent)					3.89	%		$	76,779						3.89	%		$	76,841						3.69	%		$	67,443
(1) Includes unamortized discounts and premiums.
(2) Average yields are stated on a fully taxable equivalent basis (calculated using statutory rates of 21%) resulting from tax-free municipal securities in the investment portfolio and tax-free municipal loans in the commercial loan portfolio. The taxable equivalent adjustment to net interest income for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025 was $474 thousand, $497 thousand and $314 thousand, respectively.
(3) Average loans receivable outstanding includes the average balance outstanding of all nonaccrual loans. Loans receivable consists of the average of total loans receivable less average unearned income. In addition, loans receivable interest income consists of loans receivable fees.
(4) Average balance is computed using the fair value of AFS securities and amortized cost of HTM securities. Average yield has been computed using amortized cost average balance for AFS and HTM securities. The adjustment to the average balance for securities in the calculation of average yield for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025 was $(47.1) million, $(40.2) million and $(39.1) million, respectively.

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
	Average Balances, Income and Interest Rates on a Taxable Equivalent Basis
	Nine Months Ended,
	September 30, 2026										September 30, 2025
	Average Balance				Annual Rate			Interest Inc./Exp.			Average Balance				Annual Rate			Interest Inc./Exp.
ASSETS:
Securities:
Taxable (1) (4)	$	872,844			3.22	%		$	21,932		$	778,262			2.82	%		$	17,308
Tax-exempt (1) (2) (4)		22,791			2.80				507			24,709			2.64				528
Equity securities (1) (2)		34,259			7.89				2,023			12,079			3.38				305
Total securities (4)		929,894			3.37				24,462			815,050			2.83				18,141
Loans receivable:
Commercial (2) (3)		1,838,301			6.71				92,250			1,528,643			6.82				77,954
Commercial & residential mortgages and loans held for sale (2) (3)		4,528,930			6.08				206,059			3,431,785			6.14				157,620
Consumer (3)		134,351			10.35				10,403			125,776			11.74				11,047
Total loans receivable (3)		6,501,582			6.35				308,712			5,086,204			6.48				246,621
Interest-bearing deposits with the Federal Reserve and other financial institutions		378,825			3.84				10,883			384,762			4.47				12,871
Total earning assets		7,810,301			5.86			$	344,057			6,286,016			5.87			$	277,633
Noninterest-bearing assets:
Cash and due from banks		76,341										64,701
Premises and equipment		146,107										134,523
Other assets		444,370										324,414
Allowance for credit losses		(67,292	)									(52,181	)
Total non interest-bearing assets		599,526										471,457
TOTAL ASSETS	$	8,409,827									$	6,757,473
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Demand—interest-bearing	$	1,035,317			0.94	%		$	7,254		$	776,145			0.95	%		$	5,537
Savings		3,794,154			2.50				70,898			3,248,202			2.98				72,326
Time		1,142,899			3.53				30,214			849,122			3.93				24,988
Total interest-bearing deposits		5,972,370			2.43				108,366			4,873,469			2.82				102,851
Short-term borrowings		164,000			3.87				4,749			73,785			4.08				2,251
Finance lease liabilities		18,016			5.31				715			16,704			5.67				708
Subordinated notes and debentures		86,916			4.44				2,889			105,304			4.10				3,228
Total interest-bearing liabilities		6,241,302			2.50			$	116,719			5,069,262			2.88			$	109,038
Demand—noninterest-bearing		1,149,662										909,597
Other liabilities		118,363										98,414
Total Liabilities		7,509,327										6,077,273
Shareholders’ equity		900,500										680,200
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	8,409,827									$	6,757,473
Interest income/Earning assets					5.86	%		$	344,057						5.87	%		$	277,633
Interest expense/Interest-bearing liabilities					2.50				116,719						2.88				109,038
Net interest spread					3.36	%		$	227,338						2.99	%		$	168,595
Interest income/Earning assets					5.86	%			344,057						5.87	%			277,633
Interest expense/Earning assets					1.99				116,719						2.31				109,038
Net interest margin (fully tax-equivalent)					3.87	%		$	227,338						3.56	%		$	168,595
(1) Includes unamortized discounts and premiums.
(2) Average yields are stated on a fully taxable equivalent basis (calculated using statutory rates of 21%) resulting from tax-free municipal securities in the investment portfolio and tax-free municipal loans in the commercial loan portfolio. The taxable equivalent adjustment to net interest income for the nine months ended September 30, 2026 and 2025, was $1.4 million and $838 thousand, respectively.
(3) Average loans receivable outstanding includes the average balance outstanding of all nonaccrual loans. Loans receivable consist of the average of total loans receivable less average unearned income. In addition, loans receivable interest income consists of loans receivable fees, including PPP deferred processing fees.
(4) Average balance is computed using the fair value of AFS securities and amortized cost of HTM securities. Average yield has been computed using amortized cost average balance for AFS and HTM securities. The adjustment to the average balance for securities in the calculation of average yield for the nine months ended September 30, 2026 and 2025 was $(39.9) million and $(43.2) million, respectively.

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
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 - deductible		—				—				2,586				—				3,144
Statutory federal tax rate		21	%			21	%			21	%			21	%			21	%
Tax benefit of merger and integration costs (non-GAAP)		—				—				543				—				660
Merger transaction related expenses - deductible, net of tax		—				—				2,043				—				2,484
Merger transaction related expenses, net of tax (non-GAAP)	$	—			$	—			$	3,613			$	—			$	5,381
(1) Merger transaction related expenses represent legal, advisory, severance, technology conversion, and other expenses directly related to the ESSA acquisition. Management believes exclusion of these non-recurring charges provides more meaningful period-over-period comparisons of operating performance.

	Three Months Ended									Nine Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Calculation of net income available to common (GAAP):
Net income	$	28,061		$	28,304		$	19,990		$	83,401		$	45,427
Less: preferred stock dividends		1,076			1,075			1,076			3,226			3,226
Net income available to common shareholders	$	26,985		$	27,229		$	18,914		$	80,175		$	42,201
Adjusted calculation of net income available to common (non-GAAP):
Net income available to common shareholders	$	26,985		$	27,229		$	18,914		$	80,175		$	42,201
Add: merger transaction related expenses, net of tax (non-GAAP)		—			—			3,613			—			5,381
Adjusted net income available to common shareholders (non-GAAP)	$	26,985		$	27,229		$	22,527		$	80,175		$	47,582

	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Calculation of dividend payout ratio:
Cash dividends per common share	$	0.19			$	0.19			$	0.18			$	0.57			$	0.54
Diluted earnings per common share		0.91				0.91				0.69				2.69				1.81
Dividend payout ratio		21	%			21	%			26	%			21	%			30	%
Adjusted calculation of dividend payout ratio (non-GAAP):
Cash dividends per common share	$	0.19			$	0.19			$	0.18			$	0.57			$	0.54
Adjusted diluted earnings per common share (non-GAAP)		0.91				0.91				0.82				2.69				2.05
Adjusted dividend payout ratio (non-GAAP)		21	%			21	%			22	%			21	%			26	%

	Three Months Ended									Nine Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Calculation of PPNR (non-GAAP): (1)
Net interest income	$	76,305		$	76,344		$	67,129		$	225,972		$	167,757
Add: Non-interest income		11,489			11,302			10,566			32,789			28,081
Less: Non-interest expense		51,104			50,708			50,157			150,999			130,812
PPNR (non-GAAP)	$	36,690		$	36,938		$	27,538		$	107,762		$	65,026
Adjusted calculation of PPNR (non-GAAP): (1)
Net interest income	$	76,305		$	76,344		$	67,129		$	225,972		$	167,757
Add: Non-interest income		11,489			11,302			10,566			32,789			28,081
Less: Non-interest expense		51,104			50,708			50,157			150,999			130,812
Add: Merger and integration costs (non-GAAP)		—			—			4,155			—			6,041
Adjusted PPNR (non-GAAP)	$	36,690		$	36,938		$	31,693		$	107,762		$	71,067
(1) Management believes that this is an important metric as it illustrates the underlying performance of the Corporation, it enables investors and others to assess the Corporation's ability to generate capital to cover credit losses through the credit cycle and provides consistent reporting with a key metric used by bank regulatory agencies.

	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Calculation of net interest margin:
Interest income	$	114,997			$	115,656			$	108,645			$	342,691			$	276,795
Interest expense		38,692				39,312				41,516				116,719				109,038
Net interest income	$	76,305			$	76,344			$	67,129			$	225,972			$	167,757
Average total earning assets	$	7,785,804			$	7,883,060			$	7,221,656			$	7,810,301			$	6,286,016
Net interest margin (GAAP) (annualized)		3.89	%			3.88	%			3.69	%			3.87	%			3.57	%
Calculation of net interest margin (fully tax equivalent basis) (non-GAAP):
Interest income	$	114,997			$	115,656			$	108,645			$	342,691			$	276,795
Tax equivalent adjustment (non-GAAP)		474				497				314				1,366				838
Adjusted interest income (fully tax equivalent basis) (non-GAAP)		115,471				116,153				108,959				344,057				277,633
Interest expense		38,692				39,312				41,516				116,719				109,038
Net interest income (fully tax equivalent basis) (non-GAAP)	$	76,779			$	76,841			$	67,443			$	227,338			$	168,595
Average total earning assets	$	7,785,804			$	7,883,060			$	7,221,656			$	7,810,301			$	6,286,016
Less: average mark to market adjustment on investments (non-GAAP)		(47,088	)			(40,194	)			(39,121	)			(39,872	)			(43,229	)
Adjusted average total earning assets, net of mark to market (non-GAAP)	$	7,832,892			$	7,923,254			$	7,260,777			$	7,850,173			$	6,329,245
Net interest margin, fully tax equivalent basis (non-GAAP) (annualized)		3.89	%			3.89	%			3.69	%			3.87	%			3.56	%
Calculation of net interest margin, excluding purchase accounting loan accretion (fully tax equivalent basis) (non-GAAP) (1):
Net interest income (fully tax equivalent basis) (non-GAAP)	$	76,779			$	76,841			$	67,443			$	227,338			$	168,595
Less: purchase accounting loan accretion		(2,738	)			(4,785	)			(3,420	)			(10,563	)			(3,420	)
Adjusted net interest income (fully tax equivalent basis) (non-GAAP)	$	74,041			$	72,056			$	64,023			$	216,775				165,175
Adjusted average total earning assets, net of mark to market (non-GAAP)	$	7,832,892			$	7,923,254			$	7,260,777			$	7,850,173			$	6,329,245
Adjusted net interest margin, fully tax equivalent basis (non-GAAP) (annualized)		3.75	%			3.65	%			3.50	%			3.69	%			3.49	%
(1) Purchase accounting loan accretion represents income recognized on estimated fair value adjustments to acquired loans.

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	Three Months Ended									Nine Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Basic earnings per common share computation:
Net income available to common shareholders	$	26,985		$	27,229		$	18,914		$	80,175		$	42,201
Less: net income available to common shareholders allocated to participating securities		225			256			149			715			345
Net income available to common shareholders allocated to common stock	$	26,760		$	26,973		$	18,765		$	79,460		$	41,856
Weighted average common shares outstanding, including shares considered participating securities		29,621			29,627			27,388			29,608			23,165
Less: average participating securities		233			273			209			255			166
Weighted average shares		29,388			29,354			27,179			29,353			22,999
Basic earnings per common share	$	0.91		$	0.92		$	0.69		$	2.71		$	1.82
Diluted earnings per common share computation:
Net income available to common shareholders allocated to common stock	$	26,760		$	26,973		$	18,765		$	79,460		$	41,856
Weighted average common shares outstanding for basic earnings per common share		29,388			29,354			27,179			29,353			22,999
Add: dilutive effect of stock compensation		145			138			101			137			76
Weighted average shares and dilutive potential common shares		29,533			29,492			27,280			29,490			23,075
Diluted earnings per common share	$	0.91		$	0.91		$	0.69		$	2.69		$	1.81
Adjusted basic earnings per common share computation (non-GAAP):
Net income available to common shareholders	$	26,985		$	27,229		$	18,914		$	80,175		$	42,201
Add: merger transaction related expenses, net of tax (non-GAAP)		—			—			3,613			—			5,381
Less: net income available to common shareholders allocated to participating securities		225			256			149			715			345
Adjustment to net income available to common shareholders allocated to participating securities for merger transaction related expenses, net of tax (non-GAAP)		—			—			28			—			39
Adjusted net income available to common shareholders allocated to common stock (non-GAAP)	$	26,760		$	26,973		$	22,350		$	79,460		$	47,198
Weighted average common shares outstanding, including shares considered participating securities		29,621			29,627			27,388			29,608			23,165
Less: average participating securities		233			273			209			255			166
Weighted average shares		29,388			29,354			27,179			29,353			22,999
Adjusted basic earnings per common share (non-GAAP)	$	0.91		$	0.92		$	0.82		$	2.71		$	2.05
Adjusted diluted earnings per common share computation (non-GAAP):
Adjusted net income available to common shareholders allocated to common stock (non-GAAP)	$	26,760		$	26,973		$	22,350		$	79,460		$	47,198
Weighted average common shares outstanding for basic earnings per common share		29,388			29,354			27,179			29,353			22,999
Add: dilutive effect of stock compensation		145			138			101			137			76
Weighted average shares and dilutive potential common shares		29,533			29,492			27,280			29,490			23,075
Adjusted diluted earnings per common share (non-GAAP)	$	0.91		$	0.91		$	0.82		$	2.69		$	2.05

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	September 30, 2026				June 30, 2026				September 30, 2025
Calculation of tangible book value per common share and tangible common equity / tangible assets (non-GAAP):
Shareholders' equity	$	912,550			$	909,447			$	857,130
Less: preferred equity		57,785				57,785				57,785
Common shareholders' equity		854,765				851,662				799,345
Less: goodwill and other intangibles		87,465				87,465				93,773
Less: core deposit intangible		30,646				31,672				34,727
Tangible common equity (non-GAAP)	$	736,654			$	732,525			$	670,845
Total assets	$	8,385,117			$	8,432,169			$	8,270,706
Less: goodwill and other intangibles		87,465				87,465				93,773
Less: core deposit intangible		30,646				31,672				34,727
Tangible assets (non-GAAP)	$	8,267,006			$	8,313,032			$	8,142,206
Ending shares outstanding		29,620,028				29,621,999				29,477,429
Book value per common share (GAAP)	$	28.86			$	28.75			$	27.12
Tangible book value per common share (non-GAAP)	$	24.87			$	24.73			$	22.76
Common shareholders' equity / Total assets (GAAP)		10.19	%			10.10	%			9.66	%
Tangible common equity / Tangible assets (non-GAAP)		8.91	%			8.81	%			8.24	%
Adjusted calculation of book value per common share (non-GAAP):
Common shareholders' equity	$	854,765			$	851,662			$	799,345
Add: merger transaction related expenses, net of tax (non-GAAP)		—				—				5,381
Adjusted common shareholders' equity (non-GAAP)	$	854,765			$	851,662			$	804,726
Ending shares outstanding		29,620,028				29,621,999				29,477,429
Adjusted book value per common share (non-GAAP)	$	28.86			$	28.75			$	27.30
Adjusted calculation of tangible book value per common share (non-GAAP):
Tangible common equity (non-GAAP)	$	736,654			$	732,525			$	670,845
Add: merger transaction related expenses, net of tax (non-GAAP)		—				—				5,381
Adjusted tangible common equity (non-GAAP)	$	736,654			$	732,525			$	676,226
Ending shares outstanding		29,620,028				29,621,999				29,477,429
Adjusted tangible book value per common share (non-GAAP)	$	24.87			$	24.73			$	22.94
Adjusted calculation of tangible common equity / tangible assets (non-GAAP):
Adjusted tangible common shareholders' equity (non-GAAP)	$	736,654			$	732,525			$	676,226
Tangible assets (non-GAAP)	$	8,267,006			$	8,313,032			$	8,142,206
Add: merger and integration costs (non-GAAP)		—				—				6,041
Adjusted tangible assets (non-GAAP)	$	8,267,006			$	8,313,032			$	8,148,247
Adjusted tangible common equity / Adjusted tangible assets (non-GAAP)		8.91	%			8.81	%			8.30	%

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Calculation of efficiency ratio:
Non-interest expense	$	51,104			$	50,708			$	50,157			$	150,999			$	130,812
Non-interest income	$	11,489			$	11,302			$	10,566			$	32,789			$	28,081
Net interest income		76,305				76,344				67,129				225,972				167,757
Total revenue	$	87,794			$	87,646			$	77,695			$	258,761			$	195,838
Efficiency ratio		58.21	%			57.86	%			64.56	%			58.35	%			66.80	%
Calculation of efficiency ratio (fully tax equivalent basis) (non-GAAP):
Non-interest expense	$	51,104			$	50,708			$	50,157			$	150,999			$	130,812
Less: core deposit intangible amortization		1,025				1,016				780				3,046				813
Adjusted non-interest expense (non-GAAP)	$	50,079			$	49,692			$	49,377			$	147,953			$	129,999
Non-interest income	$	11,489			$	11,302			$	10,566			$	32,789			$	28,081
Net interest income	$	76,305			$	76,344			$	67,129			$	225,972			$	167,757
Less: tax exempt investment and loan income, net of TEFRA (non-GAAP)		2,217				2,391				1,737				6,573				4,652
Add: tax exempt investment and loan income (fully tax equivalent basis) (non-GAAP)		3,010				3,265				2,453				8,978				6,575
Adjusted net interest income (fully tax equivalent basis) (non-GAAP)		77,098				77,218				67,845				228,377				169,680
Adjusted net revenue (fully tax equivalent basis) (non-GAAP)	$	88,587			$	88,520			$	78,411			$	261,166			$	197,761
Efficiency ratio (fully tax equivalent basis) (non-GAAP)		56.53	%			56.14	%			62.97	%			56.65	%			65.74	%
Adjusted calculation of efficiency ratio (fully tax equivalent basis) (non-GAAP):
Adjusted non-interest expense (non-GAAP)	$	50,079			$	49,692			$	49,377			$	147,953			$	129,999
Less: merger and integration costs (non-GAAP)		—				—				4,155				—				6,041
Adjusted non-interest expense (non-GAAP)	$	50,079			$	49,692			$	45,222			$	147,953			$	123,958
Adjusted net revenue (fully tax equivalent basis) (non-GAAP)	$	88,587			$	88,520			$	78,411			$	261,166			$	197,761
Adjusted efficiency ratio (fully tax equivalent basis) (non-GAAP)		56.53	%			56.14	%			57.67	%			56.65	%			62.68	%

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Calculation of return on average tangible common equity (non-GAAP):
Net income	$	28,061			$	28,304			$	19,990			$	83,401			$	45,427
Less: preferred stock dividends		1,076				1,075				1,076				3,226				3,226
Net income available to common shareholders	$	26,985			$	27,229			$	18,914			$	80,175			$	42,201
Average shareholders' equity	$	920,710			$	897,293			$	789,266			$	900,500			$	680,200
Less: average goodwill & intangibles		118,783				120,838				107,827				120,482				65,554
Less: average preferred equity		57,785				57,785				57,785				57,785				57,785
Average tangible common shareholders' equity (non-GAAP)	$	744,142			$	718,670			$	623,654			$	722,233			$	556,861
Return on average equity (GAAP) (annualized)		12.09	%			12.65	%			10.05	%			12.38	%			8.93	%
Return on average common equity (GAAP) (annualized)		12.41	%			13.01	%			10.26	%			12.72	%			9.07	%
Return on average tangible common equity (non-GAAP) (annualized)		14.39	%			15.20	%			12.03	%			14.84	%			10.13	%
Adjusted calculation of return on average equity (non-GAAP):
Net income	$	28,061			$	28,304			$	19,990			$	83,401			$	45,427
Add: merger transaction related expenses, net of tax (non-GAAP)		—				—				3,613				—				5,381
Adjusted net income (non-GAAP)	$	28,061			$	28,304			$	23,603			$	83,401			$	50,808
Average shareholders' equity	$	920,710			$	897,293			$	789,266			$	900,500			$	680,200
Adjusted return on average equity (non-GAAP) (annualized)		12.09	%			12.65	%			11.86	%			12.38	%			9.99	%
Adjusted calculation of return on average tangible common equity (non-GAAP):
Net income available to common shareholders	$	26,985			$	27,229			$	18,914			$	80,175			$	42,201
Add: merger transaction related expenses, net of tax (non-GAAP)		—				—				3,613				—				5,381
Adjusted net income available to common shareholders	$	26,985			$	27,229			$	22,527			$	80,175			$	47,582
Average tangible common shareholders' equity (non-GAAP)	$	744,142			$	718,670			$	623,654			$	722,233			$	556,861
Adjusted return on average tangible common equity (non-GAAP) (annualized)		14.39	%			15.20	%			14.33	%			14.84	%			11.42	%

CNB FINANCIAL CORPORATION CONSOLIDATED FINANCIAL DATA Unaudited (dollars in thousands, except per share data)
Reconciliation of Non-GAAP Financial Measures
	Three Months Ended												Nine Months Ended
	September 30, 2026				June 30, 2026				September 30, 2025				September 30, 2026				September 30, 2025
Calculation of return on average assets:
Net income	$	28,061			$	28,304			$	19,990			$	83,401			$	45,427
Average total assets	$	8,387,702			$	8,475,376			$	7,798,867			$	8,409,827			$	6,757,473
Return on average assets (GAAP) (annualized)		1.33	%			1.34	%			1.02	%			1.33	%			0.90	%
Adjusted calculation of return on average assets (non-GAAP):
Net income	$	28,061			$	28,304			$	19,990			$	83,401			$	45,427
Add: merger transaction related expenses, net of tax (non-GAAP)		—				—				3,613				—				5,381
Adjusted net income	$	28,061			$	28,304			$	23,603			$	83,401			$	50,808
Average total assets	$	8,387,702			$	8,475,376			$	7,798,867			$	8,409,827			$	6,757,473
Adjusted return on average assets (non-GAAP) (annualized)		1.33	%			1.34	%			1.20	%			1.33	%			1.01	%

Contact: Tito L. Lima
Treasurer
(814) 765-9621