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BUSINESS COMBINATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following tables provides a summary of the consideration transferred and the fair value of the assets acquired, and liabilities assumed as of the date of the Merger, (dollars in thousands):
| July 23, 2025
Merger consideration |
Value of stock consideration assigned to ESSA common shares exchanged for stock paid to shareholders | $ | 202,549 |
Value of cash consideration for ESSA common stock exchanged for cash | 21 |
Total merger consideration | $ | 202,570 |
| July 23, 2025
Identifiable net assets acquired, at fair value |
Assets acquired |
Cash and cash equivalents | $ | 27,424 |
Debt securities available-for-sale | 229,098 |
Loans receivable | 1,651,056 |
Premises and equipment | 16,019 |
Operating lease right of use assets | 3,706 |
Accrued interest receivable and other assets | 45,810 |
FHLB interests | 24,218 |
Bank owned life insurance | 40,835 |
Core deposit intangible | 35,335 |
Goodwill | 49,899 |
Total assets acquired | 2,123,400 |
Liabilities assumed |
Deposits | 1,455,805 |
Short-term borrowings | 437,000 |
Accrued interest payable and other liabilities | 24,424 |
Operating lease liabilities | 3,601 |
Total liabilities assumed | 1,920,830 |
Net assets acquired | $ | 202,570 |
Schedule of Credit Risk Profile by Risk Rating | The following table provides a summary of these PCD loans at acquisition:
| July 23, 2025
Par value of acquired loans at acquisition | $ | 138,153 |
Allowance for credit losses at acquisition | (1,857) |
Non-credit discount at acquisition | (4,121) |
Total merger consideration | $ | 132,175 |
The following tables represent the Corporation's commercial credit risk profile by risk rating. Loans receivable not rated as special mention, substandard, or doubtful are considered to be pass rated loans.
| September 30, 2025
|  |  | Non-Pass Rated |  |  |  |
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total Non-Pass |  | Total
Farmland | $ | 23,042 |  |  | $ | — |  |  | $ | 5,382 |  |  | $ | — |  |  | $ | 5,382 |  |  | $ | 28,424 |
Owner-occupied, nonfarm nonresidential properties | 614,415 |  |  | 2,079 |  |  | 22,666 |  |  | — |  |  | 24,745 |  |  | 639,160 |
Agricultural production and other loans to farmers | 6,019 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,019 |
Loans to depository institutions | 7,376 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,376 |
Commercial and Industrial | 696,749 |  |  | 8,189 |  |  | 57,798 |  |  | — |  |  | 65,987 |  |  | 762,736 |
Obligations (other than securities and leases) of states and political subdivisions | 177,123 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 177,123 |
Other loans | 47,977 |  |  | 1,150 |  |  | — |  |  | — |  |  | 1,150 |  |  | 49,127 |
Other construction loans and all land development and other land loans | 349,637 |  |  | 29,660 |  |  | 3,976 |  |  | — |  |  | 33,636 |  |  | 383,273 |
Multifamily (5 or more) residential properties | 718,950 |  |  | — |  |  | 5,981 |  |  | — |  |  | 5,981 |  |  | 724,931 |
Non-owner occupied, nonfarm nonresidential properties | 1,389,133 |  |  | 1,392 |  |  | 19,112 |  |  | — |  |  | 20,504 |  |  | 1,409,637 |
Total | $ | 4,030,421 |  |  | $ | 42,470 |  |  | $ | 114,915 |  |  | $ | — |  |  | $ | 157,385 |  |  | $ | 4,187,806 |
| December 31, 2024
|  |  | Non-Pass Rated |  |  |  |
| Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total Non-Pass |  | Total
Farmland | $ | 25,171 |  |  | $ | 5,267 |  |  | $ | 661 |  |  | $ | — |  |  | $ | 5,928 |  |  | $ | 31,099 |
Owner-occupied, nonfarm nonresidential properties | 491,798 |  |  | 1,289 |  |  | 22,121 |  |  | — |  |  | 23,410 |  |  | 515,208 |
Agricultural production and other loans to farmers | 6,492 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,492 |
Commercial and Industrial | 654,139 |  |  | 4,321 |  |  | 60,315 |  |  | — |  |  | 64,636 |  |  | 718,775 |
Obligations (other than securities and leases) of states and political subdivisions | 140,430 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 140,430 |
Other loans | 28,110 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,110 |
Other construction loans and all land development and other land loans | 281,466 |  |  | — |  |  | 1,446 |  |  | — |  |  | 1,446 |  |  | 282,912 |
Multifamily (5 or more) residential properties | 385,946 |  |  | — |  |  | 25,200 |  |  | — |  |  | 25,200 |  |  | 411,146 |
Non-owner occupied, nonfarm nonresidential properties | 1,008,507 |  |  | 4,947 |  |  | 20,087 |  |  | — |  |  | 25,034 |  |  | 1,033,541 |
Total | $ | 3,022,059 |  |  | $ | 15,824 |  |  | $ | 129,830 |  |  | $ | — |  |  | $ | 145,654 |  |  | $ | 3,167,713 |
Schedule of Business Acquisition, Pro Forma Information |
|  | Pro Forma Three Months Ended |  | Pro Forma Nine Months Ended
|  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
|  | (Unaudited) |  | (Unaudited) |  | (Unaudited) |  | (Unaudited)
CNB Standalone Revenues |  | $ | 77,695 |  |  | $ | 58,459 |  |  | $ | 195,838 |  |  | $ | 167,218 |
ESSA Standalone Revenues |  | 4,419 |  |  | 16,516 |  |  | 37,306 |  |  | 49,661 |
Loan Accretion |  | 6,422 |  |  | 7,706 |  |  | 19,265 |  |  | 23,118 |
Total revenues(1) |  | 88,536 |  |  | 82,681 |  |  | 252,409 |  |  | 239,997 |
Net income available to common shareholders |  | $ | 13,313 |  |  | $ | 23,428 |  |  | $ | 55,315 |  |  | $ | 71,145 |
(1) Includes net interest income and non-interest income.

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