Company: CCNE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000736772-25-000087
Chunk: 224

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 224
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 13.5 2.0Total deposits$5,460,078 100.0 %$5,371,364 100.0 %1.7%

At March 31, 2025, total deposits were $5.5 billion, reflecting an increase of $88.7 million, or 1.65%, from December 31, 2024. The increase in deposit balances was driven by higher retail and municipal deposits, coupled with growth in retail time deposits.

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The following table sets forth the average balances of and the average rates paid on deposits for the periods indicated. 

 Three Months Ended March 31, 20252024 AverageAmountAnnualRateAverageAmountAnnualRateDemand, noninterest-bearing$814,441 — %$736,965 — %Demand, interest-bearing704,874 0.88 739,931 0.65 Savings deposits3,131,697 3.09 2,965,279 3.47 Time deposits738,129 3.99 523,925 3.64 Total$5,389,141 $4,966,100 

At March 31, 2025, the average deposit balance per account for the Bank was approximately $34 thousand, which has remained stable at this level for an extended period.

The following table presents additional information about our March 31, 2025 and December 31, 2024 deposits:

March 31, 2025December 31, 2024Time deposits not covered by deposit insurance$61,619 $58,330 Total deposits not covered by deposit insurance1,554,285 1,516,839 

At March 31, 2025, the total estimated uninsured deposits for the Bank were approximately $1.6 billion, or approximately 27.94% of total Bank deposits. However, when excluding $101.9 million of affiliate company deposits and $481.2 million of pledged-investment collateralized deposits, the adjusted amount and percentage of total estimated uninsured deposits was approximately $971.1 million, or approximately 17.46% of total Bank deposits as of March 31, 2025.

At December 31, 2024, the total estimated uninsured deposits for the Bank were approximately $1.5 billion, or approximately 27.71% of total Bank deposits. However, when excluding affiliate company deposits of $101.9 million and