CNB Financial Corporation to be Added to Russell 2000 Index

CLEARFIELD, PENNSYLVANIA – July 7, 2009

CNB Financial Corporation (Nasdaq: CCNE) announced today it has been added to the Russell 3000® Index and Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 29, 2009.

Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. CNB Financial Corporation will hold its membership until Russell reconstitutes its indexes in June 2010.

“We are pleased with our inclusion in this index, which reflects our continued positive momentum,” said William F. Falger, President & CEO of CNB Financial Corporation, “Russell is an industry leader for stock indexes, and we expect our participation will generate greater interest in our stock at an institutional investor level.”

The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.

Russell Investments is a global investment company with $136 billion in assets under management as of March 31, 2009. Russell serves individual, institutional and advisor clients in more than 40 countries and provides investment solutions including mutual funds, retirement investments, institution asset management, implementation services and global stock market indexes. Russell is world-renowned for its depth of manager research, quality of manager selection and access to some of the world’s leading investment managers. It helps investors of all sizes put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.

CNB Financial Corporation is a $1 billion bank holding company conducting business primarily through CNB Bank, the Corporation's principal subsidiary. CNB Bank operations include two loan production offices, a private banking division, and twenty-five full-service offices in Pennsylvania, including ERIEBANK, a division of CNB Bank.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic competitive conditions; and other risks and uncertainties.