Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 138

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 138
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 previously issued financial statements and disclosures included in its Annual Report on Form 10-K for the year ended December 31, 2023.The following table presents the revisions to total loans disclosure at December 31, 2023 to reflect the adjustment for the applicable portfolio segments:As ReportedAs RevisedAdjustmentDecember 31, 2023Percentageof TotalDecember 31, 2023Percentageof TotalDecember 31, 2023Percentageof TotalFarmland$31,869 0.7 %$33,485 0.8 %$1,616 0.1 %Owner-occupied, nonfarm nonresidential properties493,064 11.0 511,910 11.5 18,846 0.5 Other construction loans and all land development and other land loans491,539 11.0 340,358 7.6 (151,181)(3.4)Multifamily (5 or more) residential properties254,342 5.7 305,697 6.8 51,355 1.1 Non-owner occupied, nonfarm nonresidential properties896,043 20.1 984,033 22.0 87,990 1.9 1-4 Family Construction51,207 1.1 28,055 0.6 (23,152)(0.5)Residential Mortgages secured by first liens990,986 22.2 1,005,335 22.5 14,349 0.3 Residential Mortgages secured by junior liens91,063 2.0 91,240 2.0 177 — Total$3,300,113 73.8 %$3,300,113 73.8 %$— — %Adoption of New Accounting StandardsAccounting Standards Adopted in 2022In December 2022, FASB issued ASU 2022-06 - Reference Rate Reform (Topic 848). ASU 2022-06 extends the period of time preparers can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06, which was effective upon issuance, defers the sunset date of this prior guidance from December 31, 2022, to December 31, 2024