Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 169

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 169
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,951 Finance lease assetsPremises and equipment, net (1)107 143 Total leased assets$54,758 $52,858 Liabilities:Operating lease liabilitiesOperating lease liabilities$39,804 $40,315 Finance lease liabilitiesAccrued interest payable and other liabilities18,088 15,151 Total leased liabilities$57,892 $55,466 (1) Finance lease assets are recorded net of accumulated amortization of $1.1 million as of June 30, 2025 and $1.1 million as of December 31, 2024.

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The components of the Corporation's net lease expense for the three and six months ended June 30, 2025 and 2024, respectively, were as follows:Three Months Ended June 30,Six Months Ended June 30,Lease CostClassification2025202420252024Operating lease costNet occupancy expense$787 $736 $1,577 $1,478 Variable lease costNet occupancy expense36 29 85 56 Finance lease cost:Amortization of leased assetsNet occupancy expense137 18 284 36 Interest on lease liabilitiesInterest expense - borrowed funds222 3 458 6 Sublease income (1)Net occupancy expense(25)(24)(51)(48)Net lease cost$1,157 $762 $2,353 $1,528 (1) Sublease income excludes rental income from owned properties.The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2025:Maturity of Lease Liabilities as of June 30, 2025Operating Leases (1)Finance LeasesTotal2025$1,576 $521 $2,097 20262,729 1,042 3,771 20272,759 934 3,693 20282,827 978 3,805 20292,862 9783,840 After 202951,797 38,13489,931 Total lease payments64,550 42,587 107,137 Less: Interest24,746 24,499 49,245 Present value of lease liabilities$39,804 $18,088 $57,892 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of