Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 187

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 187
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 also determined that a change in the annual testing date did not result in adjustments to the consolidated financial statements when applied retrospectively. At November 30, 2024, the Corporation elected to perform a qualitative assessment to determine if it was more likely than not that the fair value exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value exceeded its carrying value, resulting in no impairment.Intangible AssetsIn connection with its acquisition of Bank of Akron in 2020, the Corporation recorded a core deposit intangible asset of $613 thousand. During the year ended December 31, 2024, 2023, and 2022, the Corporation recorded amortization expense of $73 thousand, $84 thousand, and $96 thousand, respectively. The net carrying value at December 31, 2024 and 2023 was $206 thousand and $280 thousand, respectively. No other intangible assets were required to be recorded in connection with the acquisition of Bank of Akron.Estimated amortization expense of core deposit intangible assets for each of the next five years is as follows:2025$62 202651 202740 202829 202918 Thereafter6 Total$206 In connection with the formation of Ridge View Bank, a division of the Bank, the Corporation recorded an intangible asset related to naming rights in 2023. The naming rights have an indefinite useful life. The Corporation does not amortize intangible assets with indefinite lives but assesses them for impairment annually or more frequently if events or changes in circumstances indicate potential impairment.As of December 31, 2024, the carrying amount of naming rights intangible assets was $125 thousand and no impairment indicators were identified during the year ended December 31, 2024.Management evaluates events or changes in circumstances that may impact the indefinite useful life assessment of the naming rights intangible asset. If impairment indicators are identified, the Corporation will perform a qualitative or quantitative impairment test, as applicable.

9.  Deposits

The following table reflects time certificates of deposit accounts included in total deposits and their remaining maturities at December 31, 2024:Time deposits maturing:2025$615,026 202693,785 20278,128 20283,308 20291,854 Thereafter759 Total$722,860 

110

Certificates of deposit of $250 th