Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 48

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 48
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 respectively. These investments are accounted for under the equity method of accounting.Investments in Qualified Affordable Housing Project InvestmentsThe carrying value of investments in the low income housing partnerships, reported in FHLB and other restricted stock holdings and investments on the condensed consolidated balance sheet, as of March 31, 2025 and December 31, 2024 were $7.1 million and $7.3 million, respectively. The related amortization for the three months ended March 31, 2025 and 2024 was $172 thousand and $178 thousand, respectively. Unfunded commitments, reported in accrued interest payable and other liabilities on the condensed consolidated balance sheets, as of March 31, 2025 and December 31, 2024 were $3.5 million and $3.7 million, respectively.Investments in Federal and State Rehabilitation/Historic Tax CreditFrom time to time, the Corporation invests in certain limited partnerships that were formed to provide certain federal and state rehabilitation/historic tax credits. The carrying value of these investments, reported in FHLB and other restricted stock holdings and investments on the condensed consolidated balance sheet, as of both March 31, 2025 and December 31, 2024 were $4.1 million. The investments do not have any related amortization for the three months ended March 31, 2025 and 2024. Unfunded commitments, reported in accrued interest payable and other liabilities on the condensed consolidated balance sheets, as of both March 31, 2025 and December 31, 2024 were $3.2 million.

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LitigationThe Corporation is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Corporation.

10.    STOCK COMPENSATION

The Corporation has a stock incentive plan, which is administered by a committee of the Board of Directors and which permits the Corporation to provide various types of stock-based compensation to its key employees, directors, and/or consultants. In April 2025, the Corporation’s shareholders approved the CNB Financial Corporation 2025 Omnibus Incentive Plan (the “2025 Stock Incentive Plan”), which replaces the CNB Financial Corporation 2019 Omnibus Incentive Plan (the “2019