Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 86

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 86
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 assets. Tangible book value per common share is calculated by dividing tangible common equity by the number of shares outstanding. The Corporation believes that these non-GAAP financial measures provide information to investors that is useful in understanding its financial condition. Because not all companies use the same calculation of tangible common equity and tangible assets, this presentation may not be comparable to other similarly titled measures calculated by other companies. A reconciliation of these non-GAAP financial measures is provided in the "Non-GAAP Financial Measures" section in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

44

Average Balances, Interest Rates and Yields

The loan categories used to monitor and analyze interest income and yields are different than the portfolio segments used to determine the allowance for credit losses for loans. The allowance for credit losses was calculated by pooling loans of similar credit risk characteristics and credit monitoring procedures. See Note 1, "Summary of Significant Accounting Policies," and Note 3, "Loans Receivable and Allowance for Credit Losses," to the consolidated financial statements for more information about pooling of loans for the allowance for credit losses.

The following table presents average balances of certain measures of our financial condition and net interest margin for the specified years.

December 31, 2024December 31, 2023December 31, 2022AverageBalanceAnnualRateInterestInc./Exp.AverageBalanceAnnualRateInterestInc./Exp.AverageBalanceAnnualRateInterestInc./Exp.ASSETS:Securities:Taxable (1) (4)$700,078 2.14 %$16,059 $720,818 1.89 %$14,766 $768,959 1.80 %$14,560 Tax-exempt (1) (2) (4)25,919 2.60 731 30,153 2.59 844 35,965 2.87 1,080 Equity securities (1) (2)7,058 5.71 403 10,005 5.09 509 8,248 2.13 176 Total securities (4)733,055 2.19 17,193 760,976 1.96 16,119 813,172 1.85 15,816 Loans receivable:Commercial (2) (3)1,440,667 6.88 99,184 1,501,202 6