Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 212

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 212
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87 62,806 2.66 66,743 2.67 Total$55,093 1.56 %$113,700 1.65 %$17,648 2.17 %$62,806 2.66 %$249,247 1.92 %

The following table summarizes the weighted average modified duration of AFS securities as of September 30, 2025:

 Weighted Average Modified Duration (in Years)U.S. Government Sponsored Entities6.66 State and Political Subdivisions4.43 Residential and multi-family mortgage3.21 Corporate notes and bonds3.92 Pooled SBA2.13 Total3.95 

The following table summarizes the weighted average modified duration of securities HTM as of September 30, 2025:

 Weighted Average Modified Duration (in Years)U.S. Government Sponsored Entities1.94 Residential and multi-family mortgage4.79 Total2.71 

The portfolio contains no holdings of a single issuer that exceeds 10% of shareholders' equity other than U.S. government sponsored entities.

54

The Corporation’s securities portfolio serves as a source of liquidity, provides collateral for pledging requirements, and generates interest income. The Corporation monitors the earnings performance and the effectiveness of the liquidity of the securities portfolio on a regular basis through meetings of the Asset/Liability Committee ("ALCO"). The ALCO also reviews and manages interest rate risk for the Corporation. Through active balance sheet management and analysis of the securities portfolio, a sufficient level of liquidity is maintained to satisfy depositor requirements and various credit needs of the Corporation's customers.

LOANS RECEIVABLE

Note 5, "Loans Receivable and Allowance for Credit Losses," to the condensed consolidated financial statements provides more detail concerning the loan portfolio of the Corporation. 

Excluding $71.9 million of syndicated loan balances, total loans were $6.4 billion as of September 30, 2025. Excluding $1.7 billion in loans acquired through the Merger, net of estimated purchase accounting fair value adjustments, organic loan growth was $216.2 million, or 4.77% year to date increase (6.38% annualized), from December 31, 2024. The increase in loans for the nine months ended September 30, 2025 compared to December 31, 2024 was primarily driven by growth in the Ridge