Capital allocation remains conservative with quarterly dividends near 6.7 million dollars, while tactical liquidity management was highlighted by a 319.7 million dollar securities sale in 2025Q3.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 72.57M | 64.98M | 71.51M | 47.02M | 64.05M | 58.92M | 28.76M | 51.91M | 44.85M | 30.76M | 26.76M | 33.64M | 28.92M | 33.61M | 27.56M | 30.39M | 11.15M | 14.93M | 13.55M | 12.65M | 12.93M | 9.73M | 7.98M | 12.15M | 5.1M | 9.2M | 7.13M | 8.7M | 4.7M | 4.91M | 2.67M |
| Operating CF Growth % | 103.32% | -9.13% | 52.08% | -26.59% | 8.71% | 104.88% | -44.6% | 15.72% | 45.81% | 14.94% | -20.43% | 16.31% | -13.95% | 21.95% | -9.3% | 172.61% | -25.36% | 10.18% | 7.17% | -2.15% | 32.86% | 21.92% | -34.33% | 138.21% | -44.53% | 28.99% | -18.06% | 85.11% | -4.3% | 83.59% | -43.12% |
| Net Income | 81.69M | 66.13M | 54.58M | 58.02M | 63.19M | 57.71M | 32.74M | 40.08M | 33.72M | 23.86M | 20.54M | 22.2M | 23.07M | 16.68M | 17.14M | 15.1M | 11.32M | 8.51M | 5.24M | 9.13M | 9.62M | 9.14M | 7.87M | 9.06M | 8.67M | 6.51M | 5.43M | 4.6M | 5M | 4.3M | 4.28M |
| Depreciation & Amortization | 12.49M | 10.91M | 8.27M | 7.74M | 6.57M | 6.24M | 6.08M | 5.96M | 4.81M | 5.24M | 4.48M | 4.04M | 4.13M | 2.64M | 2.23M | 2.08M | 2.03M | 2M | 1.88M | 1.08M | 1.43M | 1.82M | 1.76M | 2.19M | 1.43M | 2.49M | 2.47M | 2.1M | 1.1M | 1.07M | 664K |
| Deferred Taxes | 0 | 5.07M | -1.18M | 1.11M | -1.81M | -1.69M | 1.39M | -204K | -1.08M | 3.38M | 1.02M | 376K | 733K | -977K | -240K | 441K | 2.25M | -1.75M | -1.32M | -272K | -150K | -674K | -735K | -181K | -1.64M | -434K | 269K | 600K | 1.4M | 762K | 169K |
| Other Non-Cash Items | -7.61M | -9.8M | -232K | -1.5M | -5.73M | -11.55M | -2.78M | 39K | 4.32M | -2.17M | 1.71M | 875K | 777K | 9.61M | 6.09M | 8.37M | -625K | 6.58M | 8.71M | 1.06M | 963K | 718K | 968K | 2.06M | 3.21M | -2.05M | 619K | 2.6M | -2.5M | -307K | -84K |
| Working Capital Changes | -17M | -9.99M | 7.86M | -20.09M | 507K | 6.73M | -10.09M | 4.68M | 1.53M | -477K | -1.81M | 5.53M | -339K | 5.26M | 2.07M | 4.19M | -4.04M | -526K | -1.1M | 1.65M | 1.06M | -1.27M | -1.89M | -980K | -6.56M | 2.69M | -1.67M | -1.2M | -300K | -912K | -2.36M |
| Cash from Investing | -6.7M | 27.64M | -203.28M | -149.46M | -804.7M | -409.76M | -168.68M | -368.74M | -452.68M | -203.65M | -150.88M | -100.71M | -55.53M | -36.45M | -182.62M | -180.37M | -233.67M | -155.46M | -167.17M | -74.9M | -35.16M | -30.11M | -16.06M | -39.02M | -65.12M | -35.19M | 1.6M | -103.1M | -56.8M | -37.78M | -28.12M |
| Purchase of Investments | -474.18M | -336.13M | -191.25M | -19.62M | -262.68M | -341.55M | -226.53M | -122.79M | -190.92M | -23.69M | -21.51M | -45.12M | -128.59M | -130.41M | -332.15M | -288.76M | -360.84M | -306.19M | -166.06M | -71.33M | -38.29M | -48.85M | -39.57M | -76.68M | -77.24M | -83.51M | -25.35M | -80.6M | -65.6M | -61.82M | -48.62M |
| Sale/Maturity of Investments | 571.14M | 533.24M | 150.15M | 72.98M | 116.19M | 204.51M | 227.61M | 109.68M | 76.35M | 108.64M | 68.26M | 183.77M | 142.63M | 175.5M | 235.25M | 170.92M | 207.7M | 196.93M | 81.53M | 53.8M | 43.6M | 48.48M | 49.13M | 83.96M | 46.8M | 68.78M | 31.33M | 45.8M | 36.8M | 24.25M | 22.47M |
| Net Investment Activity | 96.95M | 197.11M | -41.1M | 53.36M | -146.49M | -137.03M | 1.08M | -13.12M | -114.57M | 84.95M | 46.74M | 138.65M | 14.04M | 45.08M | -96.9M | -117.84M | -153.14M | -109.26M | -84.52M | -17.53M | 5.31M | -373K | 9.56M | 7.28M | -30.44M | -14.73M | 5.98M | -34.8M | -28.8M | -37.57M | -26.15M |
| Acquisitions | 0 | 27.4M | 0 | 0 | 0 | 0 | 72.85M | 0 | 0 | 1.08M | -2.87M | 0 | 0 | 46.98M | -1.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -98.68M | -190.54M | -145.89M | -191.97M | -645.92M | -266.24M | -236.97M | -346.57M | -335.5M | -284.47M | -184.64M | -232.62M | -63.14M | -123.18M | -82.45M | -60.82M | -78.05M | -44.72M | -77.24M | -52.72M | -37.07M | -27.97M | -23.54M | -44.34M | -33.91M | -19.59M | -3.33M | -50.8M | -25.7M | 18K | 122K |
| Cash from Financing | 16.43M | -7.77M | 352.76M | 218.2M | 114.73M | 550.34M | 479.64M | 464.11M | 418.04M | 179.05M | 126.04M | 66.41M | 24.9M | 595K | 147.24M | 152.25M | 237.6M | 131.63M | 158.43M | 67.59M | 4.91M | 33.48M | 17.02M | 25.32M | 63.15M | 27.41M | -11.97M | 89.6M | 58M | 40.49M | 23.94M |
| Dividends Paid | -24.35M | -22.49M | -19.21M | -19M | -16.86M | -15.85M | -12.13M | -10.36M | -10.24M | -10.09M | -9.55M | -9.52M | -9.52M | -8.57M | -8.21M | -8.13M | -6.93M | -5.73M | -5.53M | -5.39M | -5.1M | -5.05M | -4.77M | -4.33M | -4.33M | -3.41M | -3.08M | -2.9M | -2.6M | -2.35M | -2.14M |
| Share Repurchases | -543K | -333K | -643K | -6.72M | -1.67M | -1.16M | -1.31M | -1.29M | -2.45M | -1.88M | -44K | -868K | -1.68M | 0 | 0 | 0 | 0 | 0 | -659K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 94.05M | 0 | 3.26M | 1.42M | 0 | 19.29M | 0 | 0 | 38K | 41K | 526K | 1.19M | 33.33M | 1.14M | 982K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -543K | -333K | -643K | -6.72M | 92.38M | -1.16M | 1.95M | 132K | -2.45M | 17.42M | -44K | -868K | -1.64M | 41K | 526K | 1.19M | 33.33M | 1.14M | 323K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -2M | -1000K | 0 | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -365K | 1000K | 687K | -687K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K |
| Other Financing | 314.32M | 288.06M | 372.61M | 376.31M | -93.18M | 533.88M | 659.94M | 491.54M | 442.97M | 151.37M | 69.14M | -32.03M | 12.35M | 18.98M | 131.58M | 191.24M | 206.08M | 143.02M | 155.44M | 27.84M | 12.82M | 21.6M | 21.47M | 30.3M | 38.5M | 20.89M | -15.49M | 102.7M | 52.3M | -4.24M | -942K |
| Net Change in Cash | 82.3M | 84.86M | 220.99M | 115.76M | -625.91M | 199.5M | 339.72M | 147.41M | 10.22M | 6.16M | 1.92M | -667K | -1.71M | -2.25M | -7.82M | 2.27M | 15.07M | -8.9M | 4.82M | 5.34M | -17.32M | 13.11M | 8.93M | -1.55M | 3.14M | 1.42M | -3.24M | -4.9M | 6M | 7.62M | -1.49M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100K | 0 | 0 | 0 |
| Cash at Beginning | 527.9M | 443.04M | 222.05M | 106.28M | 732.2M | 532.69M | 192.97M | 45.56M | 35.34M | 29.18M | 27.26M | 27.93M | 29.63M | 31.88M | 39.7M | 37.43M | 22.36M | 31.26M | 26.44M | 21.1M | 38.42M | 29.91M | 20.98M | 22.53M | 19.39M | 17.97M | 21.21M | 26.1M | 20.1M | 10.82M | 12.31M |
| Cash at End | 602.46M | 527.9M | 443.04M | 222.05M | 106.28M | 732.2M | 532.69M | 192.97M | 45.56M | 35.34M | 29.18M | 27.26M | 27.93M | 29.63M | 31.88M | 39.7M | 37.43M | 22.36M | 31.26M | 26.44M | 21.1M | 43.02M | 29.91M | 20.98M | 22.53M | 19.39M | 17.97M | 21.2M | 26.1M | 18.44M | 10.81M |
| Interest Paid | 153.75M | 150.14M | 134.4M | 102.16M | 26.8M | 20.03M | 32.96M | 39.28M | 26.55M | 17.48M | 13.28M | 12.5M | 12.34M | 12.28M | 15.21M | 17.94M | 19.3M | 18.55M | 20.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 10.62M | 10.65M | 12.91M | 12.01M | 17.42M | 11.79M | 9.52M | 8.01M | 7.05M | 7.81M | 3.97M | 5.43M | 6.41M | 5.53M | 7.55M | 3.99M | 3.34M | 2.48M | 3.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 67.6M | 58.65M | 55.23M | 36.05M | 51.76M | 52.44M | 23.11M | 42.86M | 41.79M | 25.55M | 16.64M | 26.89M | 22.49M | 28.27M | 25.54M | 28.68M | 9.15M | 13.46M | 8.15M | 7.99M | 9.53M | 7.97M | 5.9M | 10.2M | 4.33M | 8.33M | 6.08M | -8.8M | 2.4M | 4.68M | 581K |
| FCF Growth % | 22.73% | 6.2% | 53.19% | -30.35% | -1.28% | 126.86% | -46.07% | 2.57% | 63.56% | 53.54% | -38.11% | 19.52% | -20.44% | 10.68% | -10.93% | 213.31% | -31.97% | 65.11% | 1.98% | -16.18% | 19.66% | 35.1% | -42.16% | 135.34% | -48.01% | 37.08% | 169.08% | -466.67% | -48.69% | 704.99% | -62.73% |
CRE concentration and funding
According to quarterly financial data, CCNE exhibited significant volatility in its investment portfolio, highlighted by a substantial 319.7 million dollar sale of securities in 2025Q3, which suggests a tactical effort to rebalance liquidity or capture gains amidst a shifting interest rate environment for the institution.
The aggressive purchase activity in 2026Q1, totaling 196.9 million dollars, indicates a pivot toward reinvestment that may be intended to lock in higher yields on the balance sheet. Investors should monitor whether these portfolio rotations are effectively offsetting the margin compression noted in recent income statement disclosures.
Based on reported cash flow statements, CCNE maintains a disciplined approach to capital returns, with dividend payments consistently hovering near 6.7 million dollars per quarter, while share buyback activity remains negligible, suggesting a preference for retaining capital to fund organic de novo expansion across its regional footprint.
The minimal utilization of share repurchases implies that management prioritizes balance sheet strength over immediate earnings-per-share accretion. This capital allocation strategy appears consistent with the bank's focus on funding its multi-brand growth model without relying on external debt financing.
As reported in recent filings, the bank's cash flow from operations is significantly influenced by non-cash provision adjustments, most notably the 15.5 million dollar reversal in 2025Q4, which complicates the interpretation of core operating cash generation relative to the bank's reported net income figures.
The fluctuation in provision-related cash impacts suggests that the bank's CECL-based accounting model is highly sensitive to regional economic forecasts. Analysts should interpret these swings as a reflection of management's evolving credit risk assessment rather than a direct indicator of immediate cash-based operational performance.
While the cash flow statement provides a view of investment activity, it obscures the underlying liquidity risk associated with CCNE's CRE concentration, as the statement fails to capture the potential for future cash outflows related to undrawn credit commitments or potential asset-quality deterioration in secondary markets.
The reliance on the cash flow statement alone may lead to an incomplete assessment of the bank's true financial flexibility. Investors should look beyond these figures to the balance sheet's loan-to-deposit ratios and the maturity profile of the commercial loan book to gauge actual liquidity resilience.
Quick answers to the most common questions about buying CCNE stock.
CNB Financial Corporation (CCNE) generated $65.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
CNB Financial Corporation (CCNE) generated $58.7M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
CNB Financial Corporation (CCNE) spent $6.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, CNB Financial Corporation (CCNE) returned $22.5M to shareholders via cash dividends and spent $0.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.