Earnings release
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News Release Contact: Tito L. Lima Treasurer (814) 765-9621 FOR IMMEDIATE RELEASE CNB FINANCIAL CORPORATION REPORTS THIRD QUARTER 2026 RESULTS Clearfield, Pennsylvania – October 21, 2026 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”). 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. 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. 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. 1 1 1
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• 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. 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. 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. 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. 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. • 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. 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. • 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. 1 1 1 1 1 1 1
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◦ 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.
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• 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. Excluding merger and integration costs, adjusted PPNR was $31.7 million for the three months ended September 30, 2025.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. Excluding merger and integration costs, adjusted PPNR was $71.1 million for the nine months ended September 30, 2025.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. 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. • 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. Excluding the after-tax impact of merger transaction related expenses, tangible book value per common share was $22.94 as of September 30, 2025. 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. 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: 1 1 1 1 1 1 1 1 1
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◦ 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. 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. • 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. 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.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. • 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. 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. 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. 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. 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. 1 1 1 1 1 1 1 1 1
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◦ 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. 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. ▪ 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. 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. ▪ 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. 1 1 1 1
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• 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. 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. 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. 1 1
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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. 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%. 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. 1 1
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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.
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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 cashequivalents 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 equitysecurities 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) $ 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) 21 % 21 % 22 % 21 % 26 % (1) (1)
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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) 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) 1.33 % 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) 12.09 % 12.65 % 11.86 % 12.38 % 9.99 % Return on average tangible common equity (non-GAAP) 14.39 % 15.20 % 12.03 % 14.84 % 10.13 % Adjusted return on average tangible common equity(non-GAAP) 14.39 % 15.20 % 14.33 % 14.84 % 11.42 % Net interest margin, fully tax equivalent basis (non-GAAP) 3.89 % 3.89 % 3.69 % 3.87 % 3.56 % Efficiency ratio, fully tax equivalent basis (non-GAAP) 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 loansand loans held for sale 0.14 % 0.09 % 0.06 % 0.10 % 0.15 % (1) (1) (1) (1) (1) (1) (1)
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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) $ 28.86 $ 28.75 $ 27.30 Tangible book value per common share (non-GAAP) $ 24.87 $ 24.73 $ 22.76 Adjusted tangible book value per common share (non-GAAP) $ 24.87 $ 24.73 $ 22.94 (1) (1) (1)
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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) 8.91 % 8.81 % 8.24 % Adjusted tangible common equity / tangible assets (non-GAAP) 8.91 % 8.81 % 8.30 % Tier 1 leverage ratio 10.57 % 10.19 % 9.34 % Common equity tier 1 ratio 12.19 % 12.02 % 10.48 % Tier 1 risk-based ratio 13.37 % 13.23 % 11.67 % Total risk-based ratio 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: Management uses non-GAAP financial information in its analysis of the Corporation’s performance. Management believes that these non-GAAP measuresprovide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significantgains and charges in the periods presented. The Corporation’s management believes that investors may use these non-GAAP measures to analyze theCorporation’s financial performance without the impact of unusual items or events that may obscure trends in the Corporation’s underlying performance. Thisnon-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 thesemeasures 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). Capital ratios as of September 30, 2026 are estimated pending final regulatory filings. (1) (1) (2) (2) (2) (2) (1) (2)
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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 AverageBalance AnnualRate InterestInc./Exp. AverageBalance AnnualRate InterestInc./Exp. AverageBalance AnnualRate InterestInc./Exp. ASSETS: Securities: Taxable $ 867,953 3.26 % $ 7,503 $ 881,420 3.26 % $ 7,489 $ 797,866 2.92 % $ 6,151 Tax-exempt 21,715 2.77 163 22,677 2.81 169 24,531 2.62 174 Equity securities 36,488 7.89 726 36,853 9.16 842 21,044 1.79 95 Total securities 926,156 3.42 8,392 940,950 3.47 8,500 843,441 2.89 6,420 Loans receivable: Commercial 1,916,991 6.54 31,593 1,837,643 6.84 31,358 1,644,092 6.98 28,921 Commercial & residential mortgagesand loans held for sale 4,511,322 6.09 69,230 4,489,655 6.07 67,922 4,212,211 6.19 65,752 Consumer 135,790 10.23 3,500 134,358 10.31 3,452 127,428 11.52 3,701 Total loans receivable 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 theFederal Reserve and other financialinstitutions 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 ANDSHAREHOLDERS’ 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-bearingliabilities 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 Includes unamortized discounts and premiums. 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. 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. 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. (1) (4) (1) (2) (4) (1) (2) (4) (2) (3) (2) (3) (3) (3) (1) (2) (3) (4)
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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 AverageBalance AnnualRate InterestInc./Exp. AverageBalance AnnualRate InterestInc./Exp. ASSETS: Securities: Taxable $ 872,844 3.22 % $ 21,932 $ 778,262 2.82 % $ 17,308 Tax-exempt 22,791 2.80 507 24,709 2.64 528 Equity securities 34,259 7.89 2,023 12,079 3.38 305 Total securities 929,894 3.37 24,462 815,050 2.83 18,141 Loans receivable: Commercial 1,838,301 6.71 92,250 1,528,643 6.82 77,954 Commercial & residential mortgages and loans held for sale 4,528,930 6.08 206,059 3,431,785 6.14 157,620 Consumer 134,351 10.35 10,403 125,776 11.74 11,047 Total loans receivable 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 Includes unamortized discounts and premiums. 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. 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. 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. (1) (4) (1) (2) (4) (1) (2) (4) (2) (3) (2) (3) (3) (3) (1) (2) (3) (4)
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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) : 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, netof tax — — 2,043 — 2,484 Merger transaction related expenses, net of tax (non-GAAP) $ — $ — $ 3,613 $ — $ 5,381 Merger transaction related expenses represent legal, advisory, severance, technology conversion, and other expenses directly related to the ESSA acquisition. Managementbelieves 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 % (1) (1)
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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): 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): 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 Management believes that this is an important metric as it illustrates the underlying performance of the Corporation, it enables investors and others toassess the Corporation's ability to generate capital to cover credit losses through the credit cycle and provides consistent reporting with a key metric used bybank 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 taxequivalent 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 oninvestments (non-GAAP) (47,088) (40,194) (39,121) (39,872) (43,229) Adjusted average total earning assets, net of mark tomarket (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, excludingpurchase accounting loan accretion (fully taxequivalent basis) (non-GAAP) : 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 tomarket (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 % Purchase accounting loan accretion represents income recognized on estimated fair value adjustments to acquired loans. (1) (1) (1) (1) (1)
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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 allocatedto participating securities 225 256 149 715 345 Net income available to common shareholders allocated tocommon stock $ 26,760 $ 26,973 $ 18,765 $ 79,460 $ 41,856 Weighted average common shares outstanding, includingshares 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 tocommon stock $ 26,760 $ 26,973 $ 18,765 $ 79,460 $ 41,856 Weighted average common shares outstanding for basicearnings 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 commonshares 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 allocatedto participating securities 225 256 149 715 345 Adjustment to net income available to common shareholdersallocated to participating securities for merger transactionrelated expenses, net of tax (non-GAAP) — — 28 — 39 Adjusted net income available to common shareholdersallocated to common stock (non-GAAP) $ 26,760 $ 26,973 $ 22,350 $ 79,460 $ 47,198 Weighted average common shares outstanding, includingshares 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 sharecomputation (non-GAAP): Adjusted net income available to common shareholdersallocated to common stock (non-GAAP) $ 26,760 $ 26,973 $ 22,350 $ 79,460 $ 47,198 Weighted average common shares outstanding for basicearnings 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 commonshares 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
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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 commonequity / 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 %
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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 equivalentbasis) (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 ofTEFRA (non-GAAP) 2,217 2,391 1,737 6,573 4,652 Add: tax exempt investment and loan income (fully taxequivalent 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 taxequivalent 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 %
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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 commonequity (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 tangiblecommon 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 %
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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 %