Company: CCNE
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000736772-25-000202
Chunk: 54

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 54
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 right-of-use assets$41,372 $37,764 Finance lease assetsFinance lease right-of-use assets17,545 14,951 Finance lease assetsPremises and equipment, net (1)89 143 Total leased assets$59,006 $52,858 Liabilities:Operating lease liabilitiesOperating lease liabilities$44,127 $40,315 Finance lease liabilitiesAccrued interest payable and other liabilities18,069 15,151 Total leased liabilities$62,196 $55,466 (1) Finance lease assets are recorded net of accumulated amortization of $1.1 million as of September 30, 2025 and $1.1 million as of December 31, 2024.

35

The components of the Corporation's net lease expense for the three and nine months ended September 30, 2025 and 2024, respectively, were as follows:Three Months Ended September 30,Nine Months Ended September 30,Lease CostClassification2025202420252024Operating lease costNet occupancy expense$941 $757 $2,518 $2,235 Variable lease costNet occupancy expense93 27 178 83 Finance lease cost:Amortization of leased assetsNet occupancy expense146 18 430 54 Interest on lease liabilitiesInterest expense - borrowed funds242 3 700 9 Sublease income (1)Net occupancy expense(24)(24)(75)(72)Net lease cost$1,398 $781 $3,751 $2,309 (1) Sublease income excludes rental income from owned properties.The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of September 30, 2025:Maturity of Lease Liabilities as of September 30, 2025Operating Leases (1)Finance LeasesTotal2025$939 $260 $1,199 20263,654 1,042 4,696 20273,395 934 4,329 20283,369 978 4,347 20293,198 9784,176 After 202956,943 38,13495,077 Total lease payments71,498 42,326 113,824 Less: Interest27,371 24,257 51,628 Present value of lease liabilities$44,127 $18,069