Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 79

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 79
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bligations (other than securities and leases) of states and political subdivisions214 — 149,253 — Other loans307 — 16,861 — Other construction loans and all land development and other land loans1,055 — 334,450 — Multifamily (5 or more) residential properties64 — 227,715 — Non-owner occupied, nonfarm nonresidential properties1,171 1 697,930 — 1-4 Family Construction169 — 41,849 — Home equity lines of credit(8)12 115,682 0.01 Residential Mortgages secured by first liens1,564 (23)874,675 — Residential Mortgages secured by junior liens489 — 63,362 — Other revolving credit plans236 (42)29,398 (0.14)Automobile34 (26)20,677 (0.13)Other consumer1,653 (1,534)50,196 (3.06)Credit cards36 (61)11,872 (0.51)Overdrafts460 (423)282 (150.00)Total loans$7,986 $(2,138)$3,897,722 (0.05)%

40

During the year ended December 31, 2024, the Corporation recorded a provision for credit losses of $9.2 million compared to $6.0 million for the year ended December 31, 2023. Included in the provision for credit losses for the year ended December 31, 2024, was a $185 thousand expense related to the allowance for unfunded commitments compared to a $156 thousand expense for the year ended December 31, 2023. The $3.2 million increase in the provision expense for the year ended December 31, 2024 compared to the year ended December 31, 2023, was primarily a result of the increase in loan portfolio growth and increase in the net loan charge-offs. Net charge-offs during the year ended December 31, 2024 were $7.5 million, or 0.17% of average total loans and loans held for sale, compared to $3.4 million, or 0.08% of average total loans and loans held for sale, during the year ended December 31, 2023.