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CNB Financial Net Income Improves

|Includes: CNB Financial Corporation (CCNE)

Originally published at www.seclive.com

CNB Financial Corp. (NASDAQ:CCNE) announced its first quarter financial results for the 2014 fiscal year, reporting improvements in net income from last year. The company's net interest margin rose from 3.41% to 3.79% while net interest income after provision for loan losses improved 37.9% from $12.5M to $17.3M. Net income improved from $4.3M and $0.34 per share a year ago to $5.2M and $0.36 per share. Non-interest income increased 4.3% from $3.1M a year ago to $3.2M, with marked increases in wealth management fees and other service charges and fees. Total deposits increased from $1.52B to $1.82B while total assets also increased from $1.79B to $2.13B. President and CEO Joseph Bower commented that acquisitions continue to add momentum to the company's growth and that its earnings set a record for the quarter.

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