CNB Financial Corp

Summary
CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services. It also provides wealth and asset management services, including the administration of trusts and estates, retirement plans, and other employee benefit plans, as well as a range of wealth management services. In addition, the company invests in debt and equity securities; sells nonproprietary annuities and other insurance products; and small balance unsecured loans and secured loans primarily collateralized by automobiles and equipment. As of February 8, 2022, the company operated a private banking division; three loan production office; one drive-up office; and 45 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Financial Corporation was founded in 1865 and is headquartered in Clearfield, Pennsylvania.

History

The bank was founded in 1954 by Alfred S. Hart. He hired Benjamin N. Maltz as the first chairman of the board. Its offices were in Beverly Hills at 400 North Roxbury Drive until 2004 when its headquarters were relocated to Arco Plaza in Los Angeles.In 1963, when Frank Sinatra's son was kidnapped, the bank put up the $240,000 demanded as ransom money. In 1970, its stock began trading over the counter.In the 1990s, it acquired seven banks: First Los Angeles Bank , Ventura County National Bank , Frontier Bank , Riverside National Bank , Harbor Bank , North American Trust Company , and American Pacific State Bank . In 2000, the bank expanded into Northern California in with the purchase of The Pacific Bank, followed by the acquisition of the Oakland-based Civic BanCorp in 2002. It had also acquired The Pacific Bank in 2000 as well as Reed, Conner & Birdwell and the People's Bank of California in 2001.In 2002, City National opened an office in New York City to serve its California-based clientele who do business on both coasts, as well as prospective clients in Manhattan. In that decade, it continued to acquire more banks: Convergent Capital Management, LLC , Business Bank of Nevada , Convergent Wealth Advisors , Lee Munder Capital Group , Imperial Capital Bank .It then acquired two more banks in 2010: 1st Pacific Bank and Sun West Bank. In mid-2011, the bank opened a branch in Nashville, Tennessee. In 2012, it acquired Rochdale Investment Management and First American Equipment Finance.City National Bank was formerly known as City National Bank of Beverly Hills and changed its name to City National Bank in February 1964.

On January 22, 2015, City National announced a "definitive agreement" to be acquired by the Royal Bank of Canada.On April 11, 2017, City National opened its first full-service branch at RBC Plaza in Minneapolis, in conjunction with RBC Wealth Management.On October 25, 2018, City National announced that Kelly Coffey would become its first female CEO from February 2019 becoming only the 4th CEO in the bank's history.


Mission
Based on strong traditional values, CNB Bank is dedicated to being the premier financial service provider in our communities, focused on the changing needs of people and businesses by providing the highest quality service.

Vision
CNB Financial Corporation will be recognized as a highly successful and attractive financial services company providing innovative solutions, great service and optimal returns to our customers and shareholders.

Key Team

Mr. Martin T. Griffith (Sr. EVP & Chief of Community Banking)

Ms. Leanne D. Kassab (Sr. Exec. VP & Chief Experience Officer)

Amy Potter (VP of Marketing)

Ms. Mary Ann Conaway (Exec. VP of Employee Resources)

Mr. Vincent C. Turiano (Assistant Sec. & Exec. VP of Operations)

Mr. Steven R. Shaffner Shilling (Exec. VP of Private Client Solutions)

Mr. Gregory M. Dixon CPA (Exec. VP & Chief Risk Officer)


Recognition and Awards
CNB Bank has been recognized year after year as one of the strongest, safest and most productive banks in the country. In 2017, CNB Bank was named the 3rd overall strongest bank among the 4,800 banks in the continental United States by Bauer Financial, Inc. CNB Bank is also a two-time recipient of the Comptroller of the Currency's Enterprise Excellence Award and an eight-time recipient of the Keystone Financial Services Corporation's Chairman's Award.

References
CNB Financial Corp
Leadership team

Mr. Joseph B. Bower Jr. (Pres, CEO & Director)

Mr. Tito L. Lima (Exec. VP, CFO & Treasurer)

Mr. Richard L. Greslick Jr. (Sr. Exec. VP, COO & Director)

Products/ Services
Banking, Finance, Financial Services
Number of Employees
500 - 1000
Headquarters
Clearfield, Pennsylvania, United States
Established
1865
Company Registration
SEC CIK number: 0000736772
Net Income
20M - 100M
Revenue
100M - 500M
Traded as
CCNE
Social Media
Wed Feb 28 2024
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