Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 16

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 16
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 assessment, management believes the decline in fair value is not the result of credit losses. As a result no credit allowance is required as of March 31, 2025.As of March 31, 2025 and December 31, 2024, management concluded the debt securities described in the previous paragraphs did not decline in fair value due to credit factors for the following reasons:•There is no indication of any significant deterioration of the creditworthiness of the institutions that issued the securities.•All contractual interest payments on the securities have been received as scheduled, and no information has come to management’s attention through the processes previously described which would lead to a conclusion that future contractual payments will not be timely received.The Corporation does not intend to sell and it is not more likely than not that it will be required to sell the securities in an unrealized loss position before recovery of its amortized cost basis.

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Equity securities at March 31, 2025 and December 31, 2024 were as follows:March 31, 2025December 31, 2024Corporate equity securities$6,175 $6,542 Mutual funds1,935 1,936 Money market funds477287 Corporate notes1,706 1,691 Total$10,293 $10,456 

4.    LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES

Total net loans receivable at March 31, 2025 and December 31, 2024 are summarized as follows:March 31, 2025Percentageof TotalDecember 31, 2024Percentageof TotalFarmland$29,398 0.64 %$31,099 0.67 %Owner-occupied, nonfarm nonresidential properties520,498 11.29 515,208 11.18 Agricultural production and other loans to farmers6,405 0.14 6,492 0.14 Commercial and Industrial708,690 15.37 718,775 15.60 Obligations (other than securities and leases) of states and political subdivisions137,149 2.97 140,430 3.05 Other loans27,457 0.59 28,110 0.61 Other construction loans and all land development and other land loans286,564 6.22 282,912 6.14 Multifamily (5 or more)