Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 188

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 188
---
ousand or more totaled $131.1 million and $100.2 million at December 31, 2024 and 2023, respectively. 

The Corporation had $185.0 million in brokered deposits as of December 31, 2024 compared to $208.3 million at December 31, 2023. In addition, the Corporation had $924.6 million and $739.3 million in reciprocal deposits at December 31, 2024 and December 31, 2023, respectively. 

10.  Borrowings

At December 31, 2024 and 2023, the Corporation had available one $10 million unsecured line of credit with an unaffiliated institution. Borrowings under the line of credit bear interest at a variable rate equal to the Secured Overnight Finance Rate ("SOFR") plus 2.85%. There were no borrowings on the line of credit at December 31, 2024 and 2023.FHLB BorrowingsThe Bank has the ability to borrow funds from the FHLB. The Bank maintains a $250.0 million line-of-credit (Open Repo Plus) with the FHLB which is a revolving term commitment available on an overnight basis. The term of this commitment may not exceed 364 days and it reprices daily at market rates. Under terms of a blanket collateral agreement with the FHLB, the line-of-credit and long term advances are secured by FHLB stock and the Bank pledges its single-family residential mortgage loan portfolio, certain commercial real estate loans, and certain agriculture real estate loans as security for any advances. Total loans pledged to the FHLB at December 31, 2024, and 2023, were $2.1 billion and $1.8 billion, respectively. The Bank could obtain advances of up to approximately $1.2 billion from the FHLB at December 31, 2024, and $993.8 million at December 31, 2023. At December 31, 2024, and December 31, 2023, outstanding advances from the FHLB were as follows:20242023Open Repo borrowing at an interest rate of 4.71% and 5.68% at December 31, 2024 and December 31, 2023. The maximum amount of the Open Repo borrowing available is $250,000.$— $— Total$— $— At December