Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 186

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 186
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985 Total lease payments65,697 36,218 101,915 Less: Interest25,382 21,067 46,449 Present value of lease liabilities$40,315 $15,151 $55,466 (1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $5.6 million of legally binding minimum lease payments for leases signed, but not yet commenced.Other information related to the Corporation's lease liabilities as of December 31, 2024 and 2023 was as follows:Lease Term and Discount RateDecember 31, 2024December 31, 2023Weighted-average remaining lease term (years)Operating leases22.823.0Finance leases34.63.0Weighted-average discount rateOperating leases4.22 %4.05 %Finance leases5.24 %4.49 %Other information related to the Corporation's lease liabilities as of December 31, 2024 and 2023 was as follows:Other InformationDecember 31, 2024December 31, 2023Cash paid for amounts included in the measurement of lease liabilitiesOperating cash flows used by operating leases$1,052 $1,134 

8.  Goodwill and Intangible Assets

 GoodwillThe change in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 was as follows:December 31, 2024December 31, 2023Balance, beginning of year$43,749 $43,749 Acquired during the year— — Balance, end of year$43,749 $43,749 

109

Impairment exists when the carrying value of goodwill exceeds its fair value. The Corporation completed its annual goodwill impairment test as of December 31, 2024 and concluded that no impairment charges were required as of that date. During the fourth quarter of 2023, the Corporation elected to change the timing of its annual goodwill impairment test from December 31 to November 30. The selection of November 30 as the annual testing date for the impairment of goodwill is intended to move the testing to a time period outside of the Corporation's annual financial reporting process to allow the Corporation additional time to complete the analysis. The Corporation believes that this change is preferable under the circumstances, and that this change does not accelerate, delay or avoid an impairment charge. The Corporation has