Company: CCNE
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000736772-25-000169
Chunk: 255

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 255
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 greater than 90 days past due256 653 Total nonperforming loans28,765 56,976 Other real estate owned1,624 2,509 Total nonperforming assets$30,389 $59,485 Total loans receivable$4,733,420 $4,608,956 Nonaccrual loans as a percentage of total loans receivable0.60 %1.22 %Total assets$6,318,477 $6,192,010 Nonperforming assets as a percentage of total assets0.48 %0.96 %Allowance for credit losses on loans receivable$48,329 $47,357 Allowance for credit losses / Total loans1.02 %1.03 %Ratio of allowance for credit losses to nonaccrual loans    169.52 %84.08 %

Total nonperforming assets were $30.4 million, or 0.48% of total assets, as of June 30, 2025, compared to $59.5 million, or 0.96% of total assets, as of December 31, 2024. In addition, the allowance for credit losses as a percentage of nonaccrual loans was 169.52% at June 30, 2025, compared to 84.08% at December 31, 2024. The decrease in nonperforming assets for the six months ended June 30, 2025, compared to December 31, 2024 was primarily due to paydowns to workout-related efforts on two larger nonaccrual loan relationships, and resulting charge-offs on these workouts and other smaller problem loans. The most significant charge-offs were $1.5 million for an owner-occupied commercial real estate relationship (balance of approximately $3.8 million with a specific reserve balance of $1.4 million) and a $1.1 million charge-off of a multifamily commercial real estate loan (balance of approximately $20.3 million with a specific reserve balance of $885 thousand). 

The Corporation has established written lending policies and procedures that require underwriting standards, loan documentation, and credit analysis standards to be met prior to funding a loan. Subsequent to the funding of a loan, ongoing review of credits is required. Credit reviews are performed quarterly by an outsourced loan review firm and cover approximately 65% of the commercial loan portfolio on an annual basis