Why regional lender CNB Bank just joined the Federal Reserve System
CNB Bank, a subsidiary of CNB Financial Corporation (NASDAQ: CCNE), announced its official membership in the Federal Reserve System through the Federal Reserve Bank of Philadelphia, effective February 12, 2026. This move is expected to streamline supervisory processes while maintaining robust regulatory oversight from the Pennsylvania Department of Banking and Securities. The company views this as a vital step supporting its strategic growth initiatives and its continued commitment to providing high-quality financial services.
CNB Financial Corporation Announces CNB Bank's Transition to State Member Bank of the Federal Reserve System
CNB Financial Corporation announced that its subsidiary, CNB Bank, became a state member bank of the Federal Reserve System effective February 12, 2026. This move is considered a significant part of CNB's strategic growth, aiming for a more efficient supervisory process while maintaining strong regulatory oversight from both the Federal Reserve and the Pennsylvania Department of Banking and Securities. CNB Bank, with approximately $8.4 billion in assets, offers a comprehensive range of banking and wealth management services across multiple states through various divisions.
CNB Financial Corporation Announces Quarterly Dividend for Common Stock
CNB Financial Corporation (Nasdaq: CCNE) has declared a quarterly cash dividend of $0.19 per share of common stock. The dividend is payable on March 13, 2026, to shareholders of record as of February 27, 2026. CNB Financial Corporation operates CNB Bank, a full-service financial institution with approximately $8.4 billion in consolidated assets and 79 offices across multiple states.
CNB Financial Corporation Declares Quarterly Cash Dividend of $0.19 per Share
CNB Financial Corporation has announced a quarterly cash dividend of $0.19 per share, payable on March 13, 2026, to shareholders of record as of February 27, 2026. The company, with approximately $8.4 billion in consolidated assets, operates primarily through CNB Bank, which offers a full range of banking services across multiple states, including Pennsylvania, Ohio, New York, and Virginia. This declaration signals the company's financial stability and commitment to shareholder returns, despite the relatively low dividend amount which might not fully satisfy investors seeking higher yields or explicit growth strategies.
CNB: Q4 Earnings Snapshot
CNB Financial Corp. (CCNE) reported a net income of $33.6 million in its fourth quarter, with earnings of $1.10 per share or 88 cents per share adjusted for non-recurring gains. The bank holding company posted revenue of $127.6 million, with revenue net of interest expense at $87.2 million, surpassing Street forecasts. For the full year, the company's profit was $66.1 million, or $2.49 per share, on revenues of $284.9 million.
CNB Financial Corporation Announces Quarterly Dividend for Series A Preferred Stock and Related Depositary Shares Distribution
CNB Financial Corporation has declared a quarterly cash dividend of $0.4453125 per depositary share for its Series A Preferred Stock, based on a dividend of $17.8125 per share of preferred stock. This dividend is scheduled for payment on March 1, 2026, to shareholders of record as of February 15, 2026. CNB Financial Corporation, with approximately $8.3 billion in assets, operates primarily through CNB Bank and its various regional divisions across multiple states.
ESSA Bancorp to be acquired by CNB Financial
ESSA Bancorp Inc., the parent company of ESSA Bank & Trust, is being acquired by CNB Financial Corp. in an all-stock transaction following regulatory approvals. This merger will combine ESSA Bank's 19 branches into CNB Bank, creating a combined entity with approximately $8 billion in total assets. The acquisition is expected to close on July 23, with ESSA Bank continuing to operate as a division of CNB Bank.
Michael Peduzzi - PA Business Central | Marcellus Business Central | Women in Business
Michael Peduzzi is the President and CEO of CNB Financial Corp. and CNB Bank, a role he assumed in 2021. With over 35 years of experience in banking and financial services, he is a licensed CPA and a board member for the PA Bankers Services Corporation. A native of Ebensburg, PA, Peduzzi holds a B.S. in Accounting from The Pennsylvania State University.
ESSA Bank & Trust plans merger with another Pennsylvania-based bank
ESSA Bank & Trust and CNB Bank announced their intent to merge, a move unanimously approved by both companies' boards. The merger is expected to finalize in the third quarter of 2025, pending shareholder and regulatory approvals. Following the merger, ESSA Bank & Trust will operate as ESSA Bank, a division of CNB Bank, with three ESSA leaders joining the CNB Financial Corporation and CNB Bank boards.
CNB: Q1 Earnings Snapshot
CNB Financial Corp. reported a first-quarter profit of $12.6 million, or 55 cents per share. The company's revenue net of interest expense was $54.2 million, missing Street forecasts. CNB shares have dropped 16% since the beginning of the year.
CNB Financial Corporation Announces Quarterly Dividend for Series A Preferred Stock and Related Depositary Shares Distribution
CNB Financial Corporation announced a quarterly cash dividend of $0.4453125 per depositary share for its Series A Preferred Stock, payable on March 1, 2024, to holders of record as of February 16, 2024. The company, with approximately $5.8 billion in consolidated assets, operates primarily through its subsidiary CNB Bank, providing a full range of banking services across multiple states.
CNB Financial Corporation - PA Business Central | Marcellus Business Central | Women in Business
CNB Financial Corporation offers a comprehensive range of banking services through its subsidiary CNB Bank, which operates multiple divisions across Pennsylvania, Ohio, and New York, including ERIEBANK, FCBank, and BankOnBuffalo. The company is expanding with Ridge View Bank opening its first full-service office in February 2023 and the launch of Impressia Bank, a new division dedicated to supporting women business owners and leaders. Additionally, Holiday Financial Services provides services in the CNB Bank and ERIEBANK market areas.
Michael Peduzzi Appointed to CNB Financial Corp. Board of Directors
CNB Financial Corporation announced the appointment of Michael Peduzzi to its Board of Directors, effective January 1, 2023. Mr. Peduzzi, who currently serves as Vice President of CNB and CEO of CNB Bank, will succeed Joseph B. Bower, Jr., who is retiring. With over 34 years of experience in banking and financial services, Peduzzi is expected to bring valuable expertise to the board.
Falger Retires from CNB Financial Corp. Board of Directors
William F. Falger has retired from the board of directors of CNB Financial Corp. and CNB Bank after 21 years of service, effective Dec. 15, 2017. Falger, who also served as president and CEO of CNB Bank from 1993-2009, significantly contributed to the company's growth from $270 million to $2.75 billion in assets. His leadership was credited by board chairman Peter Smith for guiding CNB through market expansions and economic turbulence.
Career focus: Carla Higgins, ERIEBANK
This article profiles Carla Higgins, Assistant Vice President of Commercial Lending at ERIEBANK. It details her career progression from a server to her current role, highlighting her commitment to understanding the local economy and building relationships with local businesses. Her journey exemplifies dedication and continuous self-improvement within the banking industry.
Longtime Farmers Citizens Bank CEO Coleman Clougherty resigns from CNB Bank
Coleman Clougherty, the longtime CEO of Farmers Citizens Bank, has resigned from his post atop FCBank, which became a division of CNB Bank after its acquisition. Clougherty will now focus on consulting. His departure comes months after Farmers Citizens Bank was purchased by Pennsylvania’s CNB Bank.
