CNB Financial redeems $50M subordinated notes
CNB Financial Corporation redeemed $50,000,000 in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031 on June 15, 2026.
Rhea-AI Filing Summary
CNB Financial Corporation redeemed $50,000,000 in aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031 on June 15, 2026. The notes were redeemed at 100% of principal, plus accrued and unpaid interest up to, but excluding, that date.
After this partial redemption, $35,000,000 in aggregate principal amount of these subordinated notes remains outstanding and will continue to accrue interest in accordance with their existing terms.
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8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Redeemed subordinated notes: $50,000,000 principal
Remaining subordinated notes: $35,000,000 principal
Coupon rate: 3.25%
+1 more
4 metrics
Redeemed subordinated notes
$50,000,000 principal
3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031, redeemed June 15, 2026
Remaining subordinated notes
$35,000,000 principal
Aggregate principal amount still outstanding after partial redemption
Coupon rate
3.25%
Fixed-to-Floating Rate Subordinated Notes due June 15, 2031
Redemption price
100% of principal plus accrued interest
Price paid for redeemed notes up to, but excluding, June 15, 2026
Key Terms
Fixed-to-Floating Rate Subordinated Notes, aggregate principal amount, Non-Cumulative, Perpetual Preferred Stock, Emerging growth company, +1 more
5 terms
Fixed-to-Floating Rate Subordinated Notes financial
"3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031"
A fixed-to-floating rate subordinated note is a debt security that pays a set interest rate for an initial period and then switches to a variable rate tied to a market benchmark; it ranks below senior debt for repayment if the issuer has financial trouble. Investors care because it offers higher initial yield than senior bonds but carries greater credit and repayment risk and exposes holders to changing interest costs after the switch, like moving from a steady paycheck to one that fluctuates with the economy.
aggregate principal amount financial
"redemption of $50,000,000 in aggregate principal amount of the Corporation’s 3.25% Fixed-to-Floating Rate Subordinated Notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
Non-Cumulative, Perpetual Preferred Stock financial
"Depositary Shares (each representing a 1/40th interest in a share of 7.125% Series A Non-Cumulative, Perpetual Preferred Stock)"
Emerging growth company regulatory
"Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
subordinated notes financial
"The Subordinated Notes were redeemed pursuant to their terms at a price equal to 100% of the principal amount"
Subordinated notes are loans companies issue that rank below other debts for repayment, meaning holders get paid only after higher-priority creditors if the issuer runs into trouble. Because they act like being farther back in line at a buffet, they usually offer higher interest to compensate for greater risk, so investors watch them for potential higher returns but also increased chance of loss and sensitivity to the issuer’s financial health.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What debt did CNB Financial Corporation (CCNE) redeem in June 2026?
CNB Financial Corporation redeemed $50,000,000 of its 3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031. The redemption occurred on June 15, 2026 under the notes’ stated terms.
What price did CNB Financial (CCNE) pay to redeem its subordinated notes?
The subordinated notes were redeemed at 100% of their principal amount, plus accrued and unpaid interest up to, but excluding, June 15, 2026. This follows the contractual redemption terms.
How much of CNB Financial’s 3.25% subordinated notes remain outstanding?
After the partial redemption, $35,000,000 in aggregate principal amount of the 3.25% Fixed-to-Floating Rate Subordinated Notes due June 15, 2031 remains outstanding and continues to accrue interest.
When do CNB Financial’s remaining subordinated notes mature?
The remaining $35,000,000 of subordinated notes mature on June 15, 2031. They will continue to accrue interest at the contractual 3.25% fixed-to-floating rate structure until maturity or further redemption.
Is CNB Financial (CCNE) an emerging growth company under SEC rules?
The filing references the Emerging Growth Company status checkbox under SEC rules. This indicates the company evaluated its classification in connection with the current report on Form 8-K.
AI-generated analysis. How Rhea-AI works. Not financial advice.
