2017
ANNUAL
R E P O R T
“When we were looking at putting up a new building or adding
significant equipment, ERIEBANK has always been our partner in
helping us expand.”
- Bill Witkowski, Owner of Port Erie Plastics
In June 2017, CNB Bank hosted its sixth annual charity golf tournament and
raised $23,800 to benefit the local American Cancer Society (ACS) chapter. The
money raised was used to purchase a vehicle, for the second year in a row and
was donated to the ACS Road to Recovery program. The vehicle will provide
transportation to and from treatment for people with cancer who do not have a
ride or are unable to drive themselves.
Over the past six years the CNB charity golf tournament has raised $130,350 for
the ACS, which was used to support programs such as the Wig Program, Hope
Lodge, and Road to Recovery.
to your customers,
co-workers and
community, every time.
Employee experience is a top priority for CNB and they utilize a reward and recognition program
that enables employees to recognize their co-workers for exceptional customer service or going
above and beyond for one other. In a social media style news feed, employees can post comments
and send one another points for a job well done.
CNB acknowledges that happy employees make happy customers and incentivizes its staff to
award these points to one another. The points can then be redeemed for gift cards, merchandise,
or experiences, such as golf with the President, or donut delivery for the team.
Each month an exceptional experience is chosen by the market Presidents and that employee is
awarded with an additional prize.
TABLE OF
CONTENTS
Message to the Shareholders
Consolidated Financial Highlights
Board of Directors and Executive Management
Shareholder Information
CNB Bank 2017 Highlights
ERIEBANK 2017 Highlights
FCBank 2017 Highlights
BankOnBuffalo 2017 Highlights
4-5
6-7
8
9
10-11
12-13
14
15
3
2017 ANNUAL REPORT HIGHLIGHTS MESSAGE TO OUR SHAREHOLDERS
To Our Shareholders, Customers, Employees & Friends:
Change, challenge and opportunity were at the forefront as we entered 2017. The United States was in
The last strategic plan had five pillars of success, as was laid out in the shareholder letter for 2016’s annual report. This year, the focus
the midst of a political upheaval it hadn’t seen in recent history, if ever. The banking community, as well
is more concentrated on three key principles:
as the overall business world, was in very uncertain times. Eventually, we saw signs of regulatory relief
through the very fact that the pace of new regulations virtually came to a halt. This slowdown was much
needed by both the industry and our customers. It was time to assess whether the new rules and reg-
ulations that have bombarded Financial Institutions on behalf of customers are really having the effect
1. Be the source of exceptional experiences
2. Foster an environment of leadership
3. Position for long-term growth
that was intended. This evaluation process will result in some much-needed changes and adjustments
I briefly touched on the first two elements which we believe tie into the third. Along with successful communities and valued team
to better serve the consumers of financial products. Later in the year, tax reform came. The boost that
members, we have vibrant markets to provide for long-term organic growth opportunities. Buffalo, Cleveland, Columbus and Erie are
this new law put into every household and business will provide for additional opportunities, at least in
all markets of growth. We’ve only just begun development of our franchise in these cities, with the exception of Erie, where we are
the short run. As the year came to a close, 2017 was a year of very positive change for both employers
celebrating twelve years and still going strong. Using our business model of four community banks working together, CNB has a sound
and employees alike.
CNB’s primary focus has been on our customer’s experience with services and delivery options. We have worked hard to
differentiate our offerings as well as to provide newer products such as online commercial treasury services, mobile access and
new card technology, to name a few. Then there are the future payment technologies such as person to person (P2P), business
organic opportunity that is moving in the right direction. These three principles provide the Corporation with the ability to produce
significant financial rewards. The 2017 annual report provides you with the result of solid earnings and growth over another year. A few
highlights are organic loan growth of 15%, ROE of 11.23% and EPS of $1.77. Both the ROE and EPS measures exclude the adjustment
for the new tax law.
to business (B2B), person to business (P2B) and business to person (B2P). These services will continually take more and more
I would like to recognize and thank two board members who have recently retired, Bill Falger and Jim Ryan. Bill was the President &
cash out of the payment system thus making our efforts against cybercrime more critical than ever. CNB has worked hard to
CEO for CNB and personally provided me with insight and a vision that helped move the Corporation forward. He has also provided
solidify its cyber awareness. We have partnered with various experts to safeguard and monitor our e-commerce activities both
much knowledge and experience as a member of the Board for the past eight years since his retirement from the Bank. Jim has been
internally and externally. Finally, as we consider customer experience, the evolution of delivery channels continues. Our offices
an inspiration and ambassador of the growth we’ve experienced over the past 19 years. His optimism and energy will be missed inside
have changed from traditional teller lines to universal associates who are trained to handle most customer needs efficiently at
the boardroom. Jim’s drive was key to our BankOnBuffalo initiative. Gentleman, thank you for all your contributions and best of luck to
any of our locations. More and more optionality appears within our online solutions to allow customers to bank when they want,
you as you move toward your next adventures.
in the way they want.
Another focus laid out in our strategic plan has included leadership in our communities. CNB strongly believes in fostering an
environment of leadership. Our team is encouraged to dedicate time to community organizations that are important to them. It
is our mission to provide leadership, time and resources to causes that enhance our communities. A clear example of this is our
financial commitment to the Erie Downtown Development Corporation through ERIEBANK. In addition, members of our team
will participate in various aspects of this entity’s revitalization of downtown Erie to include being a director. It is an important
aspect of our culture to aid our communities and assist them in providing better quality of life for all.
Our success exists within our team. A renewed approach to our team members began several years ago. Today, everyone
at CNB has more benefit options available to them than ever before. Our starting wages increased at the beginning of 2018
again, for the third time in five years. More paid time off has been provided to all employees. Consistent, appropriate training
is made available to every associate, every year. A group of our newest employees were asked to evaluate our benefits package
to determine what, if anything, should be changed. Student loan debt was raised as an item that is hindering the ability of
many to advance their lifestyle as the cost of a college education continues to soar out of control. As a result, a program is
now being offered to help alleviate some of these mounting pressures. One of the biggest keys to our success has been the
art of collaboration. Every team member has a voice in what we do for our customers. Together we make decisions to more
effectively service our communities. This allows CNB to not only make decisions more quickly but to implement and ultimately
get solutions to market faster as everyone is part of the process and each become change agents, not just task masters.
In closing, I want to extend a sincere thank you to our customers for doing business with us and the confidence you have in our products,
services, and employees; to our first-class employees for their dedication and commitment to our customers and the financial services
industry; and to our shareholders for your ownership and support of our strategic vision and execution.
Joseph B. Bower, Jr.
President and Chief Executive Officer
4
5
CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTS CONSOLIDATED
FINANCIAL
HIGHLIGHTS
(dollars in thousands, except per share data)
FOR THE YEAR
Interest and Dividend Income
Interest Expense
Net Interest Income
Non-interest Income
Non-interest Expense
Net Income
Net Income Return on:
Average Assets
Average Equity
AT YEAR END
Assets
Loans, Net of Unearned
Deposits
Shareholders’ Equity
PER SHARE DATA
Net Income, Diluted
Dividends
Book Value
Market Value
2017
$108,874
17,365
91,509
21,435
70,037
23,860
2016 % Change
$94,315
13,028
81,287
17,691
67,118
20,540
15.4%
33.3%
12.6%
21.2%
4.3%
16.2%
0.89%
9.97%
0.85%
9.69%
4.7%
2.9%
$2,768,773
2,145,959
2,167,815
243,910
$2,573,821
1,873,536
2,017,522
211,784
7.6%
14.5%
7.4%
15.2%
$1.57
0.66
15.98
26.24
$1.42
0.66
14.64
26.74
10.6%
-
9.2%
(1.9%)
FINANCIALS
ASSET GROWTH (in thousands)
200
400
600
800
1,000
1,000
1,400
1,600
1,800
2,000
2,200
2,400
2,600
$2,131,289
$2,189,213
$2,285,136
$2,573,136
$2,768,773
LOANS, NET OF UNEARNED (in thousands)
150
300
450
600
750
900
1,050
1,200
1,350
1,500
1,650
1,800
1,950
2,100
$1,295,363
$1,355,289
$1,577,798
$1,873,536
$2,145,959
NET INTEREST INCOME (in thousands)
$ 10
$20
$30
$40
$ 50
$60
$70
$80
$90
$59,204
$74,595
$74,707
$81,287
$91,509
EARNINGS PER SHARE (diluted)
$.20
.40
.60
.80
1.00
1.20
1.40
1.60
$1.29
$1.60
$1.54
$1.42
$1.57
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
6
7
CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTS
BOARD OF DIRECTORS AND
EXECUTIVE MANAGEMENT
CORPORATE OFFICERS, CNB FINANCIAL CORPORATION
Joseph B. Bower, Jr.
President & Chief Executive Officer
Richard L. Greslick, Jr.
Secretary
Brian W. Wingard
Treasurer & Principal Financial Officer
BOARD OF DIRECTORS
CNB Financial Corporation and CNB Bank
Peter F. Smith
Chairperson of the Board; Attorney at Law
Joseph B. Bower, Jr.
President and Chief Executive Officer,
CNB Financial Corporation; President
and Chief Executive Officer, CNB Bank
Richard L. Greslick, Jr.
Secretary, CNB Financial Corporation;
Senior Executive Vice President
and Chief Operating Officer, CNB Bank
Dennis L. Merrey
Retired; Former President, Clearfield
Powdered Metals, Inc.
EXECUTIVE OFFICERS, CNB BANK
Joseph B. Bower, Jr.
President and Chief Executive Officer
Mark D. Breakey
Senior Executive Vice President
and Chief Credit Officer
Joseph E. Dell, Jr.
Senior Executive Vice President
and Chief Commercial Banking Officer
Robert W. Montler
President and Chief Executive Officer,
Lee Industries and Keystone Process
Equipment
Joel E. Peterson
President, Clearfield Wholesale Paper
Deborah Dick Pontzer
Economic Development and Workforce
Specialist, Office of Congressman
Glenn Thompson
Jeffrey S. Powell
President, J.J. Powell, Inc.
Nicholas N. Scott
Vice President and Owner,
Scott Enterprises
Richard B. Seager
President and Chief Executive Officer,
Beacon Light Behavioral Health Systems
Francis X. Straub, III
Managing Officer and Director,
St. Marys Pharmacy, Inc. and
Bennetts Valley Pharmacy, Inc.
Peter C. Varischetti
President, Varischetti Holdings, LLC
Richard L. Greslick, Jr.
Senior Executive Vice President
and Chief Operating Officer
Steven R. Shilling
Executive Vice President,
Private Client Solutions
Mary Ann Conaway
Executive Vice President,
Human Resources
Leanne D. Kassab
Executive Vice President,
Customer Experience
Brian W. Wingard
Executive Vice President
and Chief Financial Officer
BOARD OF DIRECTORS
CORPORATE OFFICERS
BOARD OF DIRECTORS
CORPORATE OFFICERS
CNB SECURITIES CORPORATION, A SUBSIDIARY OF
CNB FINANCIAL CORPORATION, WILMINGTON, DE
Joseph B. Bower, Jr.
Chairperson
Joseph P. Strouse
President
Richard L. Greslick, Jr.
Secretary
Francis A. Goss
Vice President
Mark D. Breakey
Director
8
Michael A. Chimera
Director
Brian W. Wingard
President
Glenn R. Pentz
Director
Evan R. Pizzuto
Wilmington Trust SP Services,
Inc.
Evan R. Pizzuto
Treasurer, Wilmington Trust
SP Services, Inc.
Elizabeth F. Bothner
Secretary, Wilmington Trust
SP Services, Inc.
SHAREHOLDER
INFORMATION
ANNUAL MEETING
QUARTERLY SHARE DATA
For information regarding the Corporation’s quarterly share data,
please refer to Item 5 in the 2017 Form 10-K.
MARKET MAKERS
The following firm has chosen to make a market in the stock of the
Corporation. Inquiries concerning their services should be directed to:
Boenning & Scattergood, Inc.
1700 Market Street, Ste 1420
Philadelphia, PA 19103
(800) 842-8928
The Annual Meeting of the Shareholders of CNB Financial Corporation
will be held Tuesday, April 17, 2018 at 2:00 p.m. at the Corporation’s
headquarters in Clearfield, PA.
CORPORATE ADDRESS
CNB Financial Corporation
31 S. Second Street
P.O. Box 42
Clearfield, PA 16830
(800) 492-3221
STOCK TRANSFER AGENT & REGISTRAR
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
(800) 937-5449
FORM 10-K
Shareholders may obtain a copy of the Annual Report to the
Securities and Exchange Commission on Form 10-K by writing to:
CNB Financial Corporation
31 S. Second Street
P.O. Box 42
Clearfield, PA 16830
ATTN: Shareholder Relations
9
CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTS
CNB BANK 2017 HIGHLIGHTS
On February 24, 2017, CNB expanded its market presence in Central
Pennsylvania with a full-service office in Blair County. The new
community office is conveniently located in Duncansville, off Plank Road,
near Convention Center Boulevard. The facility signifies a multi-million
dollar investment by CNB and features a customer and community focus
throughout the branch that includes a local based team, images of the
Blair County region, an Internet kiosk, coffee station, digital displays, open
transaction areas with cash dispensers, a self-service coin counter, and a new
ATM.
Nine local subcontractors, which together employ 135 individuals, worked
on construction of the building for approximately eight months, from July
2016 through February 2017.
Interior of the new community office in Blair County.
In June 2017, twenty employees successfully graduated as the inaugural
class of the CNB Leadership Institute. Given the growth the Bank has
been experiencing, and the additional leadership depth that was needed
across the entire organization, in 2015 CNB’s senior leadership team felt that
it was the right time to enhance the importance of management succession
planning and select the inaugural class from within the organization.
The six-session program spanned over the course of 18 months with each
session lasting three days. The curriculum focuses on topics such as servant
leadership, building self-awareness and individual development through the DiSC personal assessment tool, emotional intelligence, leading and working
in high performing teams, effective presentation skills, project management, managing change and conflict, and effective feedback and coaching skills.
The program design also places a focus on leveraging senior leadership to support and reinforce key concepts, creates a long term focus on continuous
learning and personal development, and uses simulations and collaborative activities to enhance competencies and reinforce CNB’s values and vision.
CNB BANK SENIOR MANAGEMENT AND OFFICERS
Gregory M. Dixon
Market Executive
Jeffrey W. Alabran
Senior Vice President, Commercial Banking
Vickie L. Baker
Assistant Vice President, Market Manager
James C. Davidson
Assistant Vice President, Private Banking
Christopher L. Stott
Senior Vice President, Director of Private Banking
Kay E. DellAntonio
Assistant Vice President, Commercial Banking
Craig C. Ball
Vice President, Wealth & Asset Management
Timothy D. Clapper
Vice President, Commercial Banking
Michael E. Haines
Vice President, Commercial Banking
Eric A. Johnson
Vice President, Wealth & Asset Management
R. Michael Love
Vice President, Wealth & Asset Management
Glenn R. Pentz
Vice President, Wealth & Asset Management
C. Brett Stewart
Vice President, Commercial Banking
Calvin R. Thomas, Jr.
Vice President, Wealth & Asset Management
Joseph H. Yaros
Vice President, Commercial Banking
Mary A. Baker
Assistant Vice President, Market Manager
Tyler A. Kirkwood
Commercial Banking Officer
Jacklyn M. Lantzy
Community Office Manager, Blair County
Lisa A. Marchiori
Community Office Manager, DuBois
James V. Masone
Assistant Commercial Banking Officer
Alesia N. McElwee
Community Office Manager, Clearfield Main
Dustin A. Minarchick
Commercial Banking Officer
Andrew V. Nedzinski
Commercial Banking Officer
Denise J. Greene
Assistant Vice President, Private Banking
Heather Koptchak
Assistant Vice President, Market Manager
Katie A. Penoyer
Assistant Vice President, Treasury Services
Heather D. Serafini
Assistant Vice President, Private Banking
Katie M. Whysong
Assistant Vice President, Commercial Banking
Nadine J. Rodgers
Banking Officer
Judy L. Barry
Banking Officer, Portfolio Manager
Douglas M. Shaffer
Community Office Manager, Punxsutawney
Lori L. Curtis
Community Office Manager, Philipsburg Plaza
Lori D. Shimel
Community Office Manager, Houtzdale
Danielle D. Daniels
Commercial Banking Officer
Autumn F. Farley
Commercial Banking Officer
Caroline Henry
Community Office Manager, Karthaus and Kylertown
Dorthy M. Turner
Wealth & Asset Management Officer
Kevin C. Wain
Community Office Assistant Manager,
Clearfield Industrial Park Road
Gregory R. Williams
Banking Officer
ADMINISTRATIVE SERVICES
Cory K. Johnston
Vice President, Controller
Julie L. Martin
Vice President, Commercial Services
Robin W. Mink
Vice President, Senior Treasury Product
and Sales Team Leader
Eileen F. Ryan
Vice President, Mortgage Lending
Ruth Anne Ryan-Catalano
Vice President, Retail Banking
John H. Sette
Vice President, Information Technology
Carolyn B. Smeal
Vice President, Administration
Susan M. Warrick
Vice President, Operations
Rebecca A. Coleman
Assistant Vice President, Operations
Andrew D. Franson
Assistant Vice President, Wealth & Asset Operations
Officer
Kylie L. Graham
Assistant Vice President, Compliance
Carla M. Higgins
Assistant Vice President, Quality Assurance Manager
Shannon L. Irwin
Assistant Vice President, Human Resources
Paul A. McDermott
Assistant Vice President, Facilities
Amy B. Potter
Assistant Vice President, Marketing
B.J. Sterndale
Assistant Vice President, Training
Erin L. Brimmeier
Operations Officer
Michael A. Chimera
Assistant Controller
Thomas W. Grice
IT Branch/Project Manager, Officer
Matthew J. Mills
IT Manager, Officer
Brenda L. Terry
Banking Officer
Sherry Wallace
Mortgage Banking Officer
Jessica A. Zupich
Enterprise Support Officer
Joel M. Zupich
Credit Officer
A subsidiary of CNB Financial Corporation, CNB Bank is a regional independent community bank with office locations in North Central and Northwestern
Pennsylvania, Central and Northeast Ohio, and Buffalo, New York, with over 500 employees who make customer service more responsive and reliable.
For 153 years, the Bank has strived to be more customer-driven than its competitors and to build long-term customer relationships by being reliable and
competitively priced.
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CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTSIn December 2017, the Federal Reserve Bank of Philadelphia announced the appointment of Joseph B. Bower Jr., President and Chief Executive Officer of CNB Bank and CNB Financial Corp., to its Community Depository Institutions Advisory Council (CDIAC). The CDIAC is a 12-member council composed of representatives from commercial banks, thrift institutions and credit unions.The council convenes twice a year with officials from the Federal Reserve Bank of Philadelphia to share insights about economic and business trends facing community depository institutions in their local markets.After each local meeting, a representative from the Philadelphia council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Board of Governors of the Federal Reserve System in Washington, D.C.
ERIEBANK 2017 HIGHLIGHTS
2017 was a year of grand announcements for ERIEBANK. They kicked everything off
with a new community office in Ashtabula, Ohio, in February 2017. The new
4,200 square foot facility represents a significant expansion of the commercial banking
services ERIEBANK first began offering to Ashtabula businesses in 2014. The new facility
signifies a multi-million dollar investment by ERIEBANK. Ten local subcontractors, which
together employ more than 100 individuals, worked on construction of the building for
approximately eight months, from May 2016 through January 2017.
In March, 2017, the formation of an Ohio Advisory Board and the appointment of
seven inaugural members was announced. The board provides leadership and guidance
as ERIEBANK continues to develop its presence in the northeast Ohio region.
Ribbon cutting ceremony at new community office in Ashtabula, Ohio.
As a compliment to ERIEBANK’s sponsorship of 8 Great Tuesdays, a free concert series held
annually at the Liberty Park Amphitheater in Erie and organized by the Erie Western PA Port
Authority, a new initiative named 8 Great Charities was launched in July, 2017. The contest
benefiting local non-profit organizations featured a nomination phase, open to the public via
the Bank’s Facebook page, and resulted in eight different organizations receiving a total of
$8,000 in donations.
In November, 2017 ERIEBANK announced its investment of $2.5 million in the Erie
Downtown Equity Fund in support of the Erie Downtown Development Corporation
(EDDC). The EDDC is a privately funded non-profit organization led by business, university and
community leaders seeking to drive economic growth in Erie’s downtown through real estate
development.
8 Great Charities Finalists
ERIEBANK was the first financial services institution to announce its commitment to fund the collaborative effort. Karl Sanchack, president and CEO
of the Erie Innovation District, emphasized the importance of ERIEBANK’s announcement. “The EDDC needs multi-entity engagement to achieve its
goals, and adding the financial expertise of ERIEBANK to this collaboration is simply fantastic. It’s a signpost to a successful future.”
Ending the year with one last major announcement and further solidifying ERIEBANK’s commitment
to the community, ERIEBANK and the Greater Regional Erie Athletic Team Training Inc. (G.R.E.A.T.T.)
together announced that, through a partnership, the former Family First Sports Park will soon
begin a $9.1 million renovation of the facility and be named ERIEBANK Sports Park.
ERIEBANK is supporting the park through financing as well as donations of funds and expertise to
move the project forward, committing to a strategic partnership to strengthen the park’s success
for years to come.
Headquartered in Erie, Pennsylvania, ERIEBANK is a division of CNB Bank. Presently, there are eight full service offices in Pennsylvania, which house its commercial,
retail and private banking divisions, and three full service offices in Ohio. Five of those offices are in Erie, two in Meadville, and one in Warren, Pennsylvania. The
three offices in Ohio are located in Mentor and Ashtabula. In addition, ERIEBANK Investment Advisors provides wealth and asset management services, retirement
plans and other employee benefit plans.
David Zimmer, ERIEBANK President announcing the naming of
ERIEBANK Sports Park.
12
ERIEBANK SENIOR MANAGEMENT AND OFFICERS
David J. Zimmer
President
Timothy J. Roberts
Vice President, Commercial Banking
Steven M. Cappellino
Senior Vice President,
Regional Manager, Crawford County
William L. DeLuca, Jr.
Senior Vice President, Commercial Banking
Andrew L. Meinhold
Senior Vice President, Regional Manager, Lake County
David P. Bogardus
Vice President, Commercial Banking
Betsy C. Bort
Vice President, Commercial Banking
Scott O. Calhoun
Vice President, Commercial Banking
Timothy A. Flenner
Vice President, Commercial Banking
Christine Hartog
Vice President, Market Manager,
Community Office Manager, Mentor
Katie J. Jones
Vice President, Market Manager
Joshua P. Miller
Vice President, ERIEBANK Investment Advisors
Larry G. Morton, Jr.
Vice President, ERIEBANK Investment Advisors
Gregory A. Noon
Vice President, Commercial Banking
Benjamin V. Palazzo
Vice President, Commercial Banking
ERIEBANK BOARD OF ADVISORS
Gary M. Alizzeo
Esquire; Shafer Law Firm, P.C.
Joseph B. Bower, Jr.
President and Chief Executive Officer,
CNB Financial Corporation, CNB Bank
Mark D. Breakey
Senior Executive Vice President and
Chief Credit Officer, CNB Bank
Gary L. Clark
Chief Executive Officer,
Reed Manufacturing Company
Donald W. Damon
Retired; Former ERIEBANK Senior Vice President
Paul D. Sallie
Vice President, Private Banking
John M. Schulze
Vice President, Commercial Banking
William J. Vitron, Jr.
Vice President, ERIEBANK Investment Advisors
Thomas J. Walker
Vice President, Commercial Banking
J. Allen Weaver
Vice President,
Commercial Banking Team Leader
Kelly S. Buck
Assistant Vice President, Private Banking
Chrystal M. Fairbanks
Assistant Vice President, Community Office Manager/
Private Banking, Ashtabula
Russell G. Daniels
Retail Banking Officer/Community Office Assistant
Manager, West 12th Street
Erin L. Bednaro
Community Office Manager, Interchange
Robert P. Cannon
Community Office Manager, Midland
Kimberly L. Coleman
Banking Officer,
Commercial Loan Documentation Specialist
Tracie A. Harmon
Community Office Manager, Vernon
Jaclyn R. Italiani
Community Office Manager, Downtown
Barbara V. Keim
Banking Officer, Portfolio Manager
Brenda G. Shaffer
Community Office Manager, Harborcreek
Jessica A. Figoli
Assistant Vice President, Private Banking
Denise E. Gelofsack
Assistant Vice President, Portfolio Manager
Allison M. Hodas
Assistant Vice President, Commercial Banking
Justin R. Singer
Commercial Banking Officer
Helicia E. Sonney
Community Office Manager, Asbury
Theresa L. Swanson
Community Office Manager, Warren
Bryan G. Kusich
Assistant Vice President, Commercial Banking
Mary J. Taormina
Community Office Manager, Meadville
Barbara A. Macks
Assistant Vice President,
ERIEBANK Investment Advisors
James R. Miale
Assistant Vice President, Commercial Banking
John R. VanTassel
Treasury Services Officer
Abigail L. Williams
Community Office Manager, West 12th Street
Debra A. Masone
Community Office Assistant Manager, Meadville
Joseph E. Dell, Jr.
Senior Executive Vice President
and Chief Commercial Banking Officer
Jane M. Earll
Esquire; Retired Pennsylvania State Senator
David K. Galey
Retired; Former Treasurer and Chief Financial
Officer, Greenleaf Corporation
Richard L. Greslick, Jr.
Senior Executive Vice President
and Chief Operating Officer, CNB Bank;
Secretary, CNB Financial Corporation
Charles “Boo” Hagerty
President, Hamot Health Foundation
Thomas M. Kennedy
President, Professional Development Associates, Inc.
Jerome T. Osborne, III
President, JTO, Inc.
Thomas W. Reams
Vice President, C. H. Reams & Associates, Inc.
Nick Scott, Jr.
Vice President & Owner, Scott Enterprises
James E. Spoden
Esquire, MacDonald Illig Jones & Britton, LLP
David J. Zimmer
Chairperson of the Board; President, ERIEBANK
ERIEBANK OHIO ADVISORY BOARD
Dr. Lundon Albrecht
Owner, Albrecht Family Dentistry;
Dental Consultant, Coltene Whaledent
Bryce A. Heinbaugh
Managing Partner and Founder,
IEN Risk Management Consultants
Jennifer Brown
Economic Development Specialist, CT Consultants
Richard J. Kessler
President, Society of Rehabilitation
Richard T. Flenner, Jr.
Retired; Former President, Lake National Bank
Kevin D. Malecek
Senior Development Officer, Lakeland Foundation
and Lakeland Community College
Shawn Neece
Director, NMS Certified Public Accountants
Joseph T. Svete
President, Svete & McGee Company, LPA
David J. Zimmer
Chairperson of the Board; President, ERIEBANK
13
CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTS The major announcement at FCBank in 2017 was the
welcoming of Jenny Saunders as President. Jenny took
over leadership of the FCBank team in October 2017. Jenny
is a veteran banker with over 30 years of community banking
experience.
FCBank, a division of CNB Bank, is headquartered in Worthington,
Ohio with seven full service offices in the communities of
Bucyrus, Shiloh, Cardington, Fredericktown, Worthington,
Dublin, and Upper Arlington, plus one loan production office in
Lancaster, Ohio. FCBank is driven by a strong focus on meeting
the financial needs of businesses and individuals in a way only
a community bank can deliver. FCBank offers commercial, retail,
and private banking services, along with wealth and asset
management services through FC Financial Services.
FCBANK SENIOR MANAGEMENT AND OFFICERS
Jenny Saunders, FCBank President
FCBank headquarters located in Worthington, Ohio.
Dean J. Vande Water
Vice President,
Commercial Real Estate Team Leader
William R. Diehl
Assistant Vice President, Commercial Banking
Annette D. Lester
Assistant Vice President ,
Community Office Manager, Cardington
Bernard J. McGuinness
Assistant Vice President, Business Development
Jillian V. Price
Assistant Vice President, Private Banking
Sam P. Rawal
Assistant Vice President, Private Banking
Jared Butler
Senior Systems Adminstration Team Leader
Ashley N. Lutz
Commercial Banking Officer
Michelle P. Muchow
Executive Assistant, Banking Officer
J. Ralph Parker
Senior Credit Officer
Travis M. Smith
Commercial Banking Officer
Elaine M. Wilson
Community Office Manager, Fredericktown
Christopher A. Winegardner
Community Office Manager, Worthington
Clara J. McClung
Community Office Assistant Manager,
Worthington
Richard L. Greslick, Jr.
Senior Executive Vice President &
Chief Operating Officer, CNB Bank;
Secretary, CNB Financial Corporation
Lawrence A. Morrison
CPA and Partner, Kleshinski, Morrison & Morris, LLP
Jason Pohl
Partner and Co-Founder, Centric Consulting, LLC
Jenny L. Saunders
Chairperson of the Board, President, FCBank
Sam Shim
Board Member, Worthington City Schools
Julie Young
Human Resources Attorney, JMY Law, LLC
Jenny L. Saunders
President
Neal S. Clark
Senior Vice President, Commercial Banking
Donna M. Conley
Vice President, Commercial Banking Leader
John G. Hock
Vice President, Commercial Banking
Robert P. Linnabary
Vice President, Commercial Banking
Linda K. Salters
Vice President, Market Manager
Jack L. Trachtenberg
Vice President, Private Banking Team Leader
FCBANK BOARD OF ADVISORS
Joseph B. Bower, Jr.
President and Chief Executive Officer,
CNB Financial Corporation, CNB Bank
Mark D. Breakey
Senior Executive Vice President &
Chief Credit Officer, CNB Bank
Jennifer Carney
Partner and Co-Founder,
Carney Ranker Architects, Ltd.
14
BankOnBuffalo, a division of CNB Bank, experienced major growth in 2017. The newest
bank in the Buffalo area opened its first full-service office within the Electric Tower
in downtown Buffalo on February 21, 2017.
Previously a loan production office, services now available include deposit accounts,
private banking, real estate, commercial, industrial, residential and consumer loans and
lines of credit, treasury services, online banking, mobile banking, merchant credit card
processing, remote deposit and accounts receivable handling.
In April, 2017 the formation of a BankOnBuffalo Advisory Board and the
appointment of eleven inaugural members was announced. The local Board will provide
leadership and guidance as BankOnBuffalo expands upon its initial entry into the Buffalo
market in serving the financial needs of the region’s small to middle market businesses.
Ribbon Cutting ceremony at the Orchard Park
community office that opened November 2, 2017.
November 2017 was a month of celebration. On November 2, 2017, the Bank expanded
into Buffalo’s Southtowns by opening a full-service community office in Orchard
Park. On November 16, 2017, a third branch location opened in Williamsville, New York.
BankOnBuffalo, a division of CNB Bank, is headquartered in Buffalo, New York with three full
service offices in the communties of Buffalo, Orchard Park, and Williamsville. BankOnBuffalo
is being developed by local people and businesses. This local decision-making will increase
the level of service provided to the communities of Buffalo and bring growth to the entire
region. BankOnBuffalo offers commercial, retail, and private banking services, along with
wealth and asset management services through BankOnBuffalo Investment Advisors.
Interior of completely renovated Orchard Park community office.
BANK ON BUFFALO SENIOR MANAGEMENT AND OFFICERS
Martin T. Griffith
President
Rosanne Faraci
Vice President, Credit Administration
Annette A. Tomlin
Vice President, Regional Retail Banking Officer
Maria E. Barth
Senior Vice President, Commercial Banking
Kathleen B. Kane
Vice President, Regional Retail Market Manager
David G. Hawker
Assistant Vice President, Commercial Banking
David P. Paul
Senior Vice President, Wealth & Asset Management
Kelly A. Navagh
Vice President, Treasury Services
Monica R. Neimeier
Banking Officer, Portfolio Manager
Gregory G. Emminger
Vice President, Commercial Banking
Michael J. Noah
Vice President, Commercial Banking
BANK ON BUFFALO BOARD OF ADVISORS
Joseph B. Bower, Jr.
President and Chief Executive Officer,
CNB Financial Corporation, CNB Bank
Mark D. Breakey
Senior Executive Vice President &
Chief Credit Officer, CNB Bank
Joseph E. Dell, Jr.
Senior Executive Vice President &
Chief Commercial Banking Officer, CNB Bank
Richard L. Greslick, Jr.
Senior Executive Vice President &
Chief Operating Officer, CNB Bank; Secretary,
CNB Financial Corporation
Martin T. Griffith
Chairperson of the Board,
President, BankOnBuffalo
Gerry Murak
Principal and Founder, Murak & Associates, LLC;
CEO and Board Chairman, SoPark Corporation;
President, CEO, and Founder, Precision Scientific
Instruments, Inc.
Michael Newman
Owner and Executive Vice President, NOCO, Inc.
Peter J. Romano, Jr.
President and CEO, United Materials, LLC
Stephen J. Schop
Managing Partner, Schop, Powell & Associates
Mark A. Tronconi
Partner at Tronconi, Segarra & Associates
15
CNB FINANCIAL CORPORATION2017 ANNUAL REPORT HIGHLIGHTS Backed by
the full faith
and credit
of the
United States
government
Each depositor insured to at least $250,000
FDIC
Federal Deposit Insurance Corporation •www.fdic.gov
The common stock of the Corporation trades on the
NASDAQ Global Select Market under the symbol CCNE.