Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 56

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 56
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 and no borrowings as of December 31, 2024.Federal Home Loan Bank BorrowingsThe Bank has the ability to borrow funds from the Federal Home Loan Bank of Pittsburgh ("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 September 30, 2025, and December 31, 2024 were $3.6 billion and $2.1 billion, respectively. The Bank could obtain advances of up to approximately $1.8 billion from the FHLB at September 30, 2025 and $1.2 billion at December 31, 2024.At September 30, 2025 and December 31, 2024, outstanding advances from the FHLB were as follows:September 30, 2025December 31, 2024Open Repo borrowing at an interest rate of 4.47% and 4.71% at September 30, 2025 and December 31, 2024, respectfully. The maximum amount of the Open Repo borrowing available is $250,000.$121,604 $— Maturities range from 10/15/2025 through 12/30/2025; rates fixed at a range of 4.30% to 4.61%; weighted average rate is 4.44% as of September 30, 2025.50,000 — Total$171,604 $— Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. At September 30, 2025 and December 31, 2024, municipal deposit letters of credit issued by the FHLB on behalf of the Bank naming applicable municipalities as beneficiaries were $283.6 million and $157.7 million, respectively. The letters of credit were utilized in place of securities pledged to the municipalities for their deposits maintained at the