CNB Financial Corporation announced its earnings for the three months ended June 30, 2025, reporting a net income of $14 million. President and CEO Michael Peduzzi stated that second-quarter earnings and growth reflected positive momentum from continued commercial loan growth and demand.
The company experienced realized deposit and relationship growth in Treasury Management activities, leading to favorable growth in noninterest-bearing deposits. Volume increases in core net interest income components, combined with increases in average loan yield and continued decreases in the cost of interest-bearing funds, resulted in a 22 basis point increase in the taxable-equivalent net interest margin compared to the first quarter.
The acquisition of ESSA Bancorp, Inc. is scheduled to legally close at the end of day on July 23, 2025. This imminent merger is expected to significantly add to CNB’s earning-asset base and market footprint, further enhancing its growth capabilities.
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