CNB Financial Corporation operates as the holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company has 37 full service branch offices and 1 loan production office located in various communities in its market area. Its 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 company operates in the Pennsylvania counties of Crawford, Erie, and Warren. As FCBank, a division of the bank, the company 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 mortgages, industrial, residential and consumer loans; and various other specialized financial services. It also offers agricultural, credit cards, and overdrafts. The company’s Wealth & Asset Management Services division offers a range of client services. Investment Securities As of December 31, 2014, the company’s investment portfolio included U.S. government sponsored entities; states and political subdivisions; residential and multi-family mortgage; commercial mortgage; corporate notes and bonds; pooled trust preferred; pooled SBA; and other securities. Supervision and Regulation The company is a bank holding company and a financial holding company and the Bank is a Pennsylvania state-chartered bank that is not a member of the Board of Governors of the Federal Reserve System (Federal Reserve Board). Accordingly, the company is subject to the oversight of the Federal Reserve Board and the Pennsylvania Department of Banking, and the bank is subject to the oversight of the Pennsylvania Department of Banking and Federal Deposit Insurance Corporation (FDIC). Various consumer financial protection laws and regulations also affect the operation of the bank and pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Bureau of Consumer Financial Protection is authorized to write rules on consumer financial products, which could affect the operations of the bank. As a bank holding company, the company is subject to regulation and examination by the Pennsylvania Department of Banking and the Federal Reserve Board. The company is required to file with the Federal Reserve Board an annual report and such additional information as the Federal Reserve Board may require pursuant to the Bank Holding Company Act of 1956, as amended, and applicable regulations. The bank is a Pennsylvania-chartered bank and is subject to regulation, supervision and regular examination by the Pennsylvania Department of Banking and the FDIC. The bank and company also are 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. 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 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; and The Bank Secrecy Act and USA Patriot Act. The company’s earnings are significantly affected by the monetary and fiscal policies of governmental authorities, including the Federal Reserve Board. History CNB Financial Corporation was founded in 1934.
cnb financial corp/pa (CCNE:NASDAQ GS)
1 South Second Street
PO Box 42
Clearfield, PA 16830
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