Following the annual meetings of CNB Financial Corp. and CNB Bank on Tuesday, CNB Financial Corp. announced that its shareholders re-elected Class 3 directors, Joseph B. Bower Jr., Robert W. Montler, Joel E. Peterson and Richard B. Seager, each for a three-year term to expire at the 2018 annual meeting.
The following corporation directors retained their positions but were not standing for election this year: William F. Falger, Richard L. Greslick Jr., Robert D. Hord, Dennis L. Merrey, Deborah Dick Pontzer, Jeffrey S. Powell, James B. Ryan, Nicholas N. Scott and Peter F. Smith.
In addition to the election of directors, shareholders ratified the appointment of CNB Financial Corp.’s independent auditors, Crowe Horwath LLP, for the year ending Dec. 31, 2015 and approved on an advisory basis the corporation’s compensation program for its named executive officers.
Merrey conducted the meeting and welcomed the shareholders present. Merrey introduced Joseph B. Bower Jr., president and chief executive officer of CNB Financial Corp. and CNB Bank, and Brian W. Wingard, treasurer of CNB Financial Corp. and chief financial officer of CNB Bank, to address the shareholders.
Bower and Wingard provided an overview of the corporation’s investor relations Web site. They also offered comments on the corporation’s 2014 financial performance.
The most significant events of 2014 were the corporation’s record earnings of $23.1 million and the addition of nearly 10,000 new customers. CNB Bank celebrated the opening of a newly-expanded office in downtown Clearfield, as well as an expansion into Blair County with the opening of a loan production office in Hollidaysburg.
ERIEBANK, a division of CNB Bank, expanded into eastern Ohio with the opening of a loan production office in Ashtabula, Ohio and also began construction on their eighth full-service office, which opened in early 2015.
FCBank, a division of CNB Bank, opened a full-service office in Dublin, Ohio for a total of nine office locations. Holiday Financial Services Corp., a subsidiary of CNB Financial Corp., expanded into Clarion and Huntingdon for a total of 13 offices in Pennsylvania.
The corporation’s objectives for 2015 include a focus on commercial real estate lending, deposit gathering strategies and effectively managing banking regulations. In addition, there are several events that are planned surrounding the corporation’s 150th anniversary celebration throughout 2015.
Inquiries regarding Investor Relations of CNB Financial Corp. stock (CCNE) will be answered by phoning 814-765-9621.
CNB Bank is the primary subsidiary of CNB Financial Corp. and has 21 community offices in Cambria, Clearfield, Centre, Elk, Indiana, Jefferson and McKean counties and a loan production office in Hollidaysburg.
ERIEBANK is a division of CNB Bank and currently operates eight full service offices in Erie, Harborcreek, Meadville and Warren and a loan production office in Ashtabula, Ohio.
FCBank is a division of CNB Bank and currently operates nine full service offices in Bucyrus, Cardington, Dublin, Fredericktown, Mt. Hope, Shiloh, Upper Arlington, and Worthington, Ohio.
Holiday Financial Services Corp. is a subsidiary of CNB Financial Corp. and currently has offices in Bradford, Clarion, Clearfield, Dubois, Ebensburg, Erie, Hollidaysburg, Huntingdon, Indiana, Johnstown, Northern Cambria, Ridgway and State College.
