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CNB Financial Corporation Reports Second Quarter Earnings for 2009

Clearfield, Pennsylvania - July 29, 2009

CNB Financial Corporation (NASDAQ: CCNE), the parent company of CNB Bank, today announced increases in net income and earnings per share for the second quarter and first half of 2009. Highlights include the following:

• Net income of $2.5 million, or $0.29 per share, for the quarter, a 14.3% increase over the second quarter of 2008.
• Net income of $4.7 million, or $0.55 per share, for the first half of the year, a 12.8% increase over the first six months of 2008.
• Returns on average equity and assets of 14.92% and 0.92%, respectively, for the first half of 2009.
• Net interest margin of 4.07% for the first half of 2009.
• Total loans of $665.0 million, an increase of $7.3 million or 1.1% over June 2008.
• Deposits of $845.0 million, an increase of $89.1 million or 11.8% over June 2008.
• Increased loan loss reserve levels, with credit quality well within manageable levels.
• Second quarter dividend declaration of $0.165 per share.

William F. Falger, President and CEO, commented, “We continue to be pleased with our performance in 2009 despite the challenges resulting from the ongoing economic recession. While loan growth year over year has been nominal, we are still experiencing strong deposit growth, particularly in checking and savings accounts. We feel that we remain well-positioned to capitalize on growth opportunities as our economy begins its recovery."

Financial Highlights

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.