CNB Financial reported higher quarter earnings after buying FC Bancorp in Ohio.
The $2.2 billion-asset company reported an 18% increase in third-quarter earnings from a year earlier, to $5.5 million. Earnings per share of 39 cents were 3 cents higher than the average estimate of analysts polled by Bloomberg.
Net interest income rose 26%, to $18.4 million. The net interest margin expanded by 38 basis points, to 3.76%.
Noninterest income rose 8%, to reached $3.5 million.
Noninterest expenses rose 27%, to $13.2 million. Nonperforming assets fell 18%, to were $11.9 million.