Company: CCNE
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000736772-25-000071
Chunk: 151

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 151
---
 limitations to single industries or customers, and by entering into participation agreements with third parties. Collateral requirements are established based on management’s assessment of the customer. The Corporation maintains lending policies to control the quality of the loan portfolio. These policies delegate the authority to extend loans under specific guidelines and underwriting standards. These policies are prepared by the Corporation’s management and reviewed and approved annually by the Corporation’s Board of Directors.Syndicated loans, net of deferred fees and costs, are included in the commercial and industrial classification and totaled $79.9 million and $108.7 million as of December 31, 2024 and 2023, respectively.

85

Transactions in the allowance for credit losses for the year ended December 31, 2024 were as follows:BeginningAllowance (1)(Charge-offs)RecoveriesProvision (Benefit) for Credit Losses on Loans Receivable(1)(2)EndingAllowanceFarmland$138 $— $— $29 $167 Owner-occupied, nonfarm nonresidential properties4,131 (1,448)55 2,958 5,696 Agricultural production and other loans to farmers7 — — 30 37 Commercial and Industrial9,500 (2,425)56 628 7,759 Obligations (other than securities and leases) of states and political subdivisions2,627 — — (1,258)1,369 Other loans389 — — (60)329 Other construction loans and all land development and other land loans2,830 (11)— (248)2,571 Multifamily (5 or more) residential properties1,251 — — 1,718 2,969 Non-owner occupied, nonfarm nonresidential properties9,783 (974)53 1,248 10,110 1-4 Family Construction191 — — 7 198 Home equity lines of credit844 — 5 491 1,340 Residential Mortgages secured by first liens8,274 (79)— 763 8,958 Residential Mortgages secured by junior liens1,487 — — (144)1,343 Other revolving credit plans977 (156)30 109 960 Automobile360 (146)6 55 275 Other consumer2,656