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CNB Financial Corporation Reports Third Quarter Earnings for 2009

Clearfield, Pennsylvania - October 23, 2009

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

• Net income of $2.2 million, or $0.26 per share, for the quarter, compared to a loss of $744 thousand, or $0.09 per share, in the third quarter of 2008.
• Net income of $7.0 million, or $0.80 per share, for the first nine months of 2009 representing a 103% increase over the same period of 2008.
• Returns on average equity and assets of 14.29% and 0.89%, respectively, for the first nine months of 2009.
• Net interest margin of 4.03% year to date.
• Deposits of $888.6 million, an increase of 10.1% over September 30, 2008.
• Loans outstanding of $686.9 million, an increase of 3.1% over September 30, 2008.
• Increased loan loss reserve level of 1.37% compared to 1.16% at September 30, 2008.
• Nonperforming asset levels increased to 1.32% of total assets compared to 0.49% at September 30, 2008.
• Third quarter dividend paid at $0.165 per share.

William F. Falger, President and CEO, commented, “We are pleased with our performance in 2009 despite the continuing economic challenges in our local markets as well as nationally. We continue to experience strong deposit growth while loan growth has been nominal due to economic conditions. Problem loans as measured by nonperforming assets have increased year over year but remain manageable and below peer average. We feel that we remain well-positioned to capitalize on future 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.