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Company Description

Contact Info

1 South Second Street

PO Box 42

Clearfield, PA 16830

United States

Phone: 814-765-9621

Fax: 814-765-8294

CNB Financial Corporation operates as the bank holding company for CNB Bank that engages in a range of banking activities and services for individual, business, governmental, and institutional customers. In addition to the bank, the company has three other subsidiaries. CNB Securities Corporation is incorporated in Delaware and maintains investments in debt and equity securities. CNB Insurance Agency, incorporated in Pennsylvania, provides for the sale of nonproprietary annuities and other insurance products. Holiday Financial Services Corporation, incorporated in Pennsylvania, offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment, to borrowers with higher risk characteristics. The company has 38 full service branch offices and 2 loan production offices located in various communities in its market area. The company’s primary market area includes the Pennsylvania counties of Cambria, Cameron, Centre, Clearfield, Crawford, Elk, Indiana, Jefferson, and McKean. As ERIEBANK, a division of the bank, the bank operates in the Pennsylvania counties of Crawford, Erie, and Warren. As FCBank, a division of the bank, the bank operates in the Ohio counties of Crawford, Richland, Ashland, Wayne, Marion, Morrow, Knox, Holmes, Delaware, and Franklin. The company’s activities and services principally include checking, savings, and time deposit accounts; real estate, commercial, industrial, residential and consumer loans; and various other specialized financial services. The bank’s Wealth & Asset Management Services division offers a range of client services. The company engages in the consumer discount loan and finance business, which is conducted through a wholly owned subsidiary, Holiday Financial Services Corporation, which has 12 offices within the company’s footprint. Securities As of December 31, 2015, the company’s securities included U.S. government sponsored entities; state and political subdivisions; residential and multi-family mortgage securities; corporate notes and bonds; pooled trust preferred securities; pooled Small Business Administration securities; and other securities. Supervision and Regulation The company is a financial holding company registered under the Bank Holding Company Act of 1956, as amended. The company is subject to the oversight of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Pennsylvania Department of Banking. The bank is subject to the oversight of the Pennsylvania Department of Banking and Federal Deposit Insurance Corporation (FDIC). The bank received a CRA (Community Reinvestment Act of 1977) rating of ‘Satisfactory’ at its CRA exam. The company is applying resources to ensure that it is in compliance with all applicable provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any implementing rules, which might increase its costs of operations and adversely impact its earnings. The bank and the company are also subject to the restrictions of Sections 23A and 23B of the Federal Reserve Act, and their implementing Regulation W, issued by the Federal Reserve Board. Section 23A requires that loans or extensions of credit by the bank to an affiliate, purchases of securities by the bank issued by an affiliate, purchases of assets by the bank from an affiliate (except as might be exempted by order or regulation), the acceptance by the Bank of securities issued by an affiliate as collateral and the issuance by the Bank of a guarantee, acceptance by the Bank of letters of credit on behalf of an affiliate be on terms and conditions consistent with safe and sound banking practices. The bank is also subject to Sections 22(g) and 22(h) of the Federal Reserve Act, and their implementing Regulation O issued by the Federal Reserve Board. The deposits of the bank are insured up to applicable limits per insured depositor by the FDIC. The bank’s loans and other products and services are also subject to various federal and state consumer financial protection laws, including but not limited to, the Truth-In-Lending Act; Truth-in-Savings Act; Home Mortgage Disclosure Act; Equal Credit Opportunity Act; Real Estate Settlement Procedures Act; Fair Credit Reporting Act; Privacy provisions of the Gramm-Leach-Bliley Act and related regulations; Electronic Fund Transfer Act; the Bank Secrecy Act and USA Patriot Act; and various other federal and state laws and regulations, including those related to consumer protection and bank operations. The Sarbanes-Oxley Act is applicable to all companies with equity securities registered or that file reports under the Securities Exchange Act of 1934, as amended, including publicly-held financial holding companies, such as the company. History CNB Financial Corporation was founded in 1934. The company was incorporated under the laws of the Commonwealth of Pennsylvania in 1983.


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Valuation CCNE Industry Range
Price/Earnings 13.2x
Price/Sales 3.0x
Price/Book 1.3x
Price/Cash Flow 13.3x
TEV/Sales -- Not Meaningful

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