Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 183

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 183
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ed to a new pricing provider, leading to the reclassification of United States Treasury investments as Level 1 pricing instruments.While estimates of fair value are based on management’s judgment of the most appropriate factors as of the balance sheet dates, there is no assurance that the estimated fair values would have been realized if the assets had been disposed of or the liabilities settled at that date, since market values may differ depending on various circumstances. The estimated fair values would also not apply to subsequent dates. The fair value of other equity interests is based on the net asset values provided by the underlying investment partnership. ASU 2015-7 removes the requirement to categorize within the fair value hierarchy all investments measured using the net asset value per share practical expedient and related disclosures. In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the disclosures.Also, non-financial assets such as, among other things, the estimated earnings power of core deposits, the earnings potential of trust accounts, the trained workforce, and customer goodwill, which typically are not recognized on the balance sheet, may have value but are not included in the fair value disclosures.

5.  Secondary Market Mortgage Activities

Total loans serviced for others were $264.1 million and $258.5 million for the years ended December 31, 2024 and 2023, respectively.The following summarizes secondary market mortgage activities for the years ended December 31, 2024, 2023, and 2022:December 31, 2024December 31, 2023December 31, 2022Loans originated for resale$28,451 $17,874 $34,181 Proceeds from sales of loans held for sale27,934 16,263 29,151 Net gains on sales of loans held for sale770 447 1,285 Loan servicing fees719 744 781 The following summarizes activity for capitalized mortgage servicing rights for the years ended December 31, 2024, 2023, and 2022:December 31, 2024December 31, 2023December 31, 2022Balance, beginning of year$1,554 $1,804 $1,664 Additions244 114 232 Servicing rights acquired— — — Amortization(547)(364)(92)Balance, end of year$1,251 $1,554 $1