Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 72

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 72
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— — — 257 Total$650,304 $555,258 $1,265,693 $727,529 $3,198,784 11-4 family construction loans and other construction loans and all land development and other land loans segments may include loans that have a permanent financing period as part of the original term of the loan. Upon completion of the construction period the loans are reclassified to their permanent financing loan segment.

35

Loan Concentration

At December 31, 2024, no industry concentration existed which exceeded 10% of the total loan portfolio.

Loan Quality

The following table presents information concerning the loan portfolio delinquency and other nonperforming assets at December 31, 2024 and 2023:

December 31, 2024December 31, 2023Nonaccrual loans$56,323 $29,639 Accrual loans greater than 90 days past due653 55 Total nonperforming loans56,976 29,694 Other real estate owned2,509 2,111 Total nonperforming assets$59,485 $31,805 Total loans$4,608,956 $4,468,476 Nonaccrual loans as a percentage of loans1.22 %0.66 %Total assets$6,192,010 $5,752,957 Nonperforming assets as a percentage of total assets0.96 %0.55 %Allowance for credit losses on loans$47,357 $45,832 Allowance for credit losses / Total loans1.03 %1.03 %Ratio of allowance for credit losses on loans to nonaccrual loans    84.08 %154.63 %

Total nonperforming assets were approximately $59.5 million, or 0.96% of total assets, as of December 31, 2024, compared to $31.8 million, or 0.55% of total assets, as of December 31, 2023. The increase in nonperforming assets for the year ended December 31, 2024, was due to one commercial multifamily relationship totaling $20.4 million with a specific reserve balance of $885 thousand. Management does not believe there is a risk of significant additional loss exposure beyond the specific reserves related to this loan relationship and is actively working with the borrower and their real estate