CLEARFIELD — CNB Financial Corp, the parent company of CNB Bank, on Monday announced its earnings for the first quarter of 2019. Highlights include the following:

Net income of $9.5 million, or $0.62 per share, in the first quarter of 2019, compared to net income of $7.1 million, or $0.46 per share, in the first quarter of 2018.

Annualized returns on average assets and equity of 1.17% and 14.24%, respectively, for the quarter ended March 31, 2019, compared to 1.00% and 11.61%, respectively, for the quarter ended March 31, 2018.

Net interest margin on a fully tax-equivalent basis of 3.70% and 3.72% for the quarters ended March 31, 2019 and 2018, respectively.

Loans of $2.53 billion as of March 31, 2019, compared to loans of $2.28 billion as of March 31, 2018, representing organic loan growth of 11.0%.

Deposits of $2.66 billion as of March 31, 2019, compared to deposits of $2.21 billion as of March 31, 2018, representing organic deposit growth of 20.2%.

Total households serviced as of March 31, 2019, were 65,081 compared to 59,267 households at March 31, 2018, representing an organic increase of 9.8%.

Book value per share of $18.04 as of March 31, 2019, an increase of 12.6% compared to book value per share of $16.02 as of March 31, 2018, and tangible book value per share of $15.46 as of March 31, 2019, an increase of 15.5% compared to tangible book value per share of $13.39 as of March 31, 2018.

Non-performing assets of $18.8 million, or 0.57% of total assets as of March 31, 2019, compared to $18.5 million, or 0.58% of total assets, as of December 31, 2018, and $20.8 million, or 0.71% of total assets, as of March 31, 2018.

Joseph B. Bower, Jr., President and CEO, stated, “We are pleased with our growth and earnings trajectory, along with the continued improvement in asset quality, as we begin 2019. Our tangible common equity ratio increased by 24 basis points in the first quarter, and we are well-positioned to continue building capital organically as we progress through the remainder of 2019.”