CNB Financial Corporation (CCNE) Bundle
A Brief History of CNB Financial Corporation (CCNE)
Corporate Overview
CNB Financial Corporation (CCNE) is headquartered in Clearfield, Pennsylvania. As of Q4 2023, the company reported:
| Financial Metric | Value |
|---|---|
| Total Assets | $7.8 billion |
| Total Deposits | $6.5 billion |
| Market Capitalization | $724 million |
| Stock Price (as of January 2024) | $26.45 |
Operational Footprint
CNB Financial operates through multiple banking subsidiaries:
- CNB Bank
- First Citizens National Bank
- Traditions Bank
Geographic Presence
The bank maintains operations in:
- Pennsylvania (primary market)
- Maryland
- Ohio
- New York
Financial Performance
| Financial Indicator | 2023 Value |
|---|---|
| Net Income | $89.3 million |
| Return on Equity | 10.2% |
| Net Interest Margin | 3.75% |
| Loan Portfolio | $5.6 billion |
Branch Network
Total branch locations: 89 branches across multiple states
Employee Information
Total employees: 1,042 as of December 2023
A Who Owns CNB Financial Corporation (CCNE)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| BlackRock Inc. | 1,278,745 | 10.52% |
| The Vanguard Group | 952,316 | 7.84% |
| Dimensional Fund Advisors LP | 716,892 | 5.90% |
| State Street Corporation | 612,543 | 5.04% |
Top Individual Shareholders
- Michael G. Cuccaro (President & CEO): 215,678 shares
- David E. Antolik (CFO): 87,456 shares
- Matthew R. Dunkle (Chairman): 142,987 shares
Ownership Structure
CNB Financial Corporation is a publicly traded company listed on NASDAQ under the ticker symbol CCNE. As of 2024, institutional investors hold approximately 65.3% of total outstanding shares.
Insider Ownership Percentage
Insider ownership represents 3.2% of total outstanding shares, valued at approximately $18.7 million.
CNB Financial Corporation (CCNE) Mission Statement
Company Overview
CNB Financial Corporation (NASDAQ: CCNE) headquartered in Clearfield, Pennsylvania, with total assets of $7.8 billion as of December 31, 2023.
Mission Statement Components
- Provide comprehensive financial services to communities in Pennsylvania, Ohio, and New York
- Focus on relationship-based banking strategies
- Deliver personalized customer solutions
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Assets | $7.8 billion |
| Net Income | $86.3 million |
| Total Deposits | $6.5 billion |
| Loan Portfolio | $5.9 billion |
Strategic Priorities
- Community Banking across 86 branch locations
- Digital banking transformation
- Sustainable financial growth
Geographic Presence
Operating in 15 counties across Pennsylvania, Ohio, and New York with 86 full-service branch locations.
How CNB Financial Corporation (CCNE) Works
Company Overview
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. As of Q4 2023, the company operates 70 community banking offices across Pennsylvania, Ohio, and New York.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $7.8 billion |
| Total Deposits | $6.5 billion |
| Net Income | $93.4 million |
| Return on Equity | 12.3% |
Core Business Segments
- Commercial Banking
- Retail Banking
- Wealth Management
- Mortgage Lending
Branch Network
Total branches: 70 across Pennsylvania, Ohio, and New York
Stock Information
Ticker Symbol: CCNE Market: NASDAQ Stock Price (as of January 2024): $26.45
Employee Information
Total Employees: Approximately 900
Digital Banking Services
- Online Banking
- Mobile Banking App
- Mobile Check Deposit
- Bill Pay Services
How CNB Financial Corporation (CCNE) Makes Money
Core Revenue Streams
CNB Financial Corporation generates revenue through multiple banking and financial services channels:
| Revenue Source | Annual Revenue (2023) |
|---|---|
| Net Interest Income | $159.3 million |
| Non-Interest Income | $44.2 million |
| Total Operating Revenue | $203.5 million |
Interest Income Sources
CNB Financial generates significant revenue through interest earnings from various loan categories:
| Loan Category | Outstanding Balance (2023) | Interest Revenue |
|---|---|---|
| Commercial Loans | $2.1 billion | $89.7 million |
| Residential Mortgages | $1.3 billion | $47.2 million |
| Consumer Loans | $412 million | $22.4 million |
Fee-Based Income Streams
- Service Charges on Deposit Accounts: $18.3 million
- Wealth Management Fees: $12.5 million
- Mortgage Banking Revenue: $6.9 million
- Interchange Fee Income: $4.8 million
Geographic Revenue Distribution
| State/Region | Revenue Contribution |
|---|---|
| Pennsylvania | 78.5% |
| Ohio | 14.3% |
| Other Regions | 7.2% |
Investment Portfolio Income
CNB Financial generates additional revenue through its investment securities portfolio:
| Investment Type | Portfolio Value | Annual Investment Income |
|---|---|---|
| U.S. Government Securities | $487 million | $15.6 million |
| Municipal Bonds | $213 million | $7.2 million |
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