CLEARFIELD – The board of directors of CNB Financial Corp. has elected Michael Peduzzi, president and chief operating officer of CNB Bank, to the CNB Bank board of directors, effective Jan. 1, 2022.
Peduzzi was hired as president and COO of CNB Bank in August of 2021. In this role, he leads the bank in the execution of the strategic plan.
He works with the chief executive officer and board of directors of CNB to develop and direct the financial policies and practices of the bank’s retail, commercial, wealth management and private banking divisions to ensure that financial objectives, goals and institutional growth targets are met.
Along with other members of the CNB executive management team, he will develop and implement bank-wide strategies aimed at achieving the growth and profitability necessary to ensure optimum shareholder returns while complying with government regulations and sound financial practices.
Commenting on the announcement, Peter F. Smith, chairperson of CNB Bank’s board of directors stated, “I am very excited about the talent and enthusiasm that Mike brings to CNB. His fresh leadership will take CNB to the next level.”
Peduzzi has over 34 years of experience in banking and financial services, having most recently served as senior executive vice president and chief financial officer of a Pennsylvania community bank.
During this time, he has served on the board of directors of the Pennsylvania Association of Community Bankers.
A native of Ebensburg, Peduzzi graduated from Bishop Carroll High School. He later graduated from The Pennsylvania State University with a Bachelor of Science degree in accounting.
Peduzzi is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA).
He has served a three-year term on the PICPA state committee on professional ethics, and a four-year term on the PICPA state committee on internal audit, including a term as chairman.
Peduzzi has also been a member of the Advisory Board of The Pennsylvania State University – York, since 2016.
The appointment of Peduzzi is the culmination of an active management succession planning process the board initiated several years ago to ensure an orderly transition of management.
The board looks forward to working with Peduzzi to continue the bank’s growth and leadership in the communities it serves while maintaining the rich heritage and tradition of superior service to its customers.