CNB Financial (CCNE) 8-K Regulation FD Disclosure

Financial Highlights

Year Ended December 31, 2010

NASDAQ: CCNE

March 4, 2011

Exhibit 99.1

Forward-Looking Statements

This

presentation

includes

forward-looking

statements

within

the

meaning

of

Section

27A

of

the

Securities

Act

of

1933,

as

amended,

and

Section

21E

of

the

Securities

Exchange

Act

of

1934,

as

amended,

with

respect

to

the

financial

condition,

liquidity,

results

of

operations,

future

performance

and

business

of

CNB

Financial

Corporation.

These

forward-looking

statements

are

intended

to

be

covered

by

the

safe

harbor

for

“forward-looking

statements”

provided

by

the

Private

Securities

Litigation

Reform

Act

of

1995.

Forward-

looking

statements

are

those

that

are

not

historical

facts.

Forward-looking

statements

include

statements

with

respect

to

beliefs,

plans,

objectives,

goals,

expectations,

anticipations,

estimates

and

intentions

that

are

subject

to

significant

risks

and

uncertainties

and

are

subject

to

change

based

on

various

factors

(some

of

which

are

beyond

our

control).

Forward-looking

statements

often

include

the

words

“believes,”

“expects,”

“anticipates,”

“estimates,”

“forecasts,”

“intends,”

“plans,”

“targets,”

“potentially,”

“probably,”

“projects,”

“outlook”

or

similar

expressions

or

future

conditional

verbs

such

as

“may,”

“will,”

“should,”

“would”

and

“could.”

Such

known

and

unknown

risks,

uncertainties

and

other

factors

that

could

cause

the

actual

results

to

differ

materially

from

the

statements,

include,

but

are

not

limited

to:

(i)

changes

in

general

business,

industry

or

economic

conditions

or

competition;

(ii)

changes

in

any

applicable

law,

rule,

regulation,

policy,

guideline

or

practice

governing

or

affecting

financial

holding

companies

and

their

subsidiaries

or

with

respect

to

tax

or

accounting

principals

or

otherwise;

(iii)

adverse

changes

or

conditions

in

capital

and

financial

markets;

(iv)

changes

in

interest

rates;

(v)

changes

in

the

quality

or

composition

of

our

loan

and

investment

portfolios;

(vi)

adequacy

of

loan

loss

reserves;

(vii)

increased

competition;

(viii)

loss

of

certain

key

officers;

(ix)

continued

relationships

with

major

customers;

(x)

deposit

attrition;

(xi)

rapidly

changing

technology;

(xii)

unanticipated

regulatory

or

judicial

proceedings

and

liabilities

and

other

costs;

(xiii)

changes

in

the

cost

of

funds,

demand

for

loan

products

or

demand

for

financial

services;

and

(xiv)

other

economic,

competitive,

governmental

or

technological

factors

affecting

our

operations,

markets,

products,

services

and

prices.

Such

developments

could

have

an

adverse

impact

on

our

financial

position

and our results of operations.

The

forward-looking

statements

are

based

upon

management’s

beliefs

and

assumptions.

Any

forward-

looking

statement

made

herein

speaks

only

as

of

the

date

on

which

it

is

made.

Factors

or

events

that

could

cause

the

our

actual

results

to

differ

may

emerge

from

time

to

time,

and

it

is

not

possible

for

us

to

predict

all

of

them.

We

undertake

no

obligation

to

publicly

update

any

forward-looking

statement,

whether

as

a

result

of

new

information,

future

developments

or

otherwise,

except

as

may

be

required

by

law.

2

Balance Sheet

•

Deposits of $1.163 billion, growth of 22% over December 31, 2009

–

Transaction, money market and savings deposits equal 68% of total

•

Loans of $795 million, growth of 11% over December 31, 2009

Profitability

•

Net income of $11.3 million, or $1.06 per share

•

Return on assets of 0.87% and return on equity of 11.6%

•

Net interest margin of 3.71%, net of prepayment penalty of $707 thousand

Asset Quality

•

Ratio of NPAs

/ Loans + OREO of 1.66%

•

Net charge-offs to average loans of 0.56%

•

Allowance for loan losses to loans of 1.36%

Capital

•

Tangible common equity to tangible assets of 7.1%*

•

Leverage ratio of 8.8%

•

Tier 1 Risk Based Ratio of 14.1%

•

Total Risk Based Capital Ratio of 15.4%

2010 Highlights

3

Note: Financial data as of or for the year ended December 31, 2010.

* Please see the Appendix for a reconciliation of non-GAAP financial information.

Balance Sheet Growth

$ in millions

* Compound annual growth rate from 2005-2010.

4

Average Annual Increase: *

Assets

13%

Loans

8%

Deposits

13%

$764

$781

$859

$1,017

$1,162

$511

$547

$600

$672

$715

$795

$619

$631

$659

$815

$957

$1,163

2005

2006

2007

2008

2009

2010

Assets

Loans

Deposits

$1,414

Earnings Per Share & Dividends

*  Compound annual growth rate from 2000-2010. 

5

Average Annual Increase: *

EPS

6.0%

Div.

6.9%

$0.59

$0.71

$0.95

$0.99

$0.86

$1.01

$1.08

$1.05

$0.61

$0.98

$1.06

$0.34

$0.37

$0.47

$0.47

$0.52

$0.55

$0.57

$0.62

$0.65

$0.66

$0.66

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

EPS

Dividends

Capital Ratios

6

7.8%

7.9%

6.9%

5.1%

5.1%

7.1%

9.2%

9.2%

9.7%

8.4%

7.9%

8.8%

11.7%

11.7%

11.9%

10.8%

10.7%

14.1%

12.8%

12.8%

12.9%

12.0%

12.0%

15.4%

2005

2006

2007

2008

2009

2010

Tangible Common Equity to Tangible Assets

Leverage Ratio

Tier 1 Risk Based Ratio

Total Risk Based Capital Ratio

*

* Please see the Appendix for a reconciliation of non-GAAP financial information.

Deposit Composition

7

•

23% annual compound growth since 2005 in transaction, money market and savings accounts; 2% in CDs

•

Interest-bearing deposit cost of 1.42% (or total deposit cost of 1.25%) for the year ended December 31, 2010

* Compound annual growth rate from 2005-2010.

Deposit Demographics

Source:  SNL Financial 6/30/10

County

CNB Market

Rank

Number

of     

Branches

CNB   

Deposits

in Market

($000)

CNB 

Market

Share

(%)

Total   

Deposits 

in Market

($000)

Total      

Population  

2010       

(Actual)

Clearfield

1

11

405,489

29.65

1,367,426

83,248

Erie

6

4

271,572

7.25

3,745,173

279,906

Elk

4

4

105,820

16.16

654,902

32,583

McKean

3

3

87,717

11.77

745,411

43,660

Centre

10

1

65,370

2.93

2,333,913

146,264

Warren

4

1

43,613

4.72

923,841

40,631

Cambria

11

1

42,380

1.59

2,673,207

145,348

Crawford

8

1

41,277

3.68

1,120,484

89,185

Jefferson

6

1

35,155

3.96

888,499

45,343

     Total

27

1,098,393

14,452,856

906,168

8

Loan Portfolio Overview

9

30%

29%

29%

31%

31%

34%

26%

26%

27%

27%

27%

27%

38%

39%

36%

34%

33%

33%

6%

5%

8%

9%

8%

7%

0%

20%

40%

60%

80%

100%

2005

2006

2007

2008

2009

2010

Consumer and

other

Commercial,

industrial, and

agricultural

Commercial

mortgage

Residential

mortgage

$511

$547

$600

$672

$715

$795

$ in millions

Yield on earning assets, cost of funds and

net interest margin

7.32%

7.11%

5.89%

6.72%

5.23%

3.51%

3.40%

2.07%

2.64%

1.78%

4.17%

4.27%

4.33%

4.00%

3.71%

0%

2%

4%

6%

8%

2006

2007

2008

2009

2010

Yield on earning assets

Cost of funds

Net interest margin (tax equivalent)

10

Asset Quality Summary

11

($ in '000s)

For the Year Ending

12/31/05

12/31/06

12/31/07

12/31/08

12/31/09

12/31/10

Nonaccrual

$1,561

$1,619

$1,979

$3,046

$12,757

$11,926

90+ Days Past Due

462

128

395

533

584

889

Total Non-Performing Loans

2,023

1,747

2,374

3,579

13,341

12,815

Other Real Estate Owned

85

181

516

671

252

396

Total Non-Performing Assets

2,108

1,928

2,890

4,250

13,593

13,211

Non-Performing Loans / Loans

0.40%

0.32%

0.40%

0.53%

1.87%

1.61%

Non-Performing Assets / Loans + OREO

0.41%

0.35%

0.48%

0.63%

1.90%

1.66%

Loan Loss Reserves

$5,603

$6,086

$6,773

$8,719

$9,795

$10,820

Reserves / Loans

1.10%

1.11%

1.13%

1.30%

1.37%

1.36%

Reserves / Non-Performing Loans

277%

348%

285%

244%

73%

84%

Net Charge-Offs (NCOs)

$765

$888

$825

$1,841

$3,389

$4,133

NCOs / Average Loans

0.15%

0.17%

0.14%

0.28%

0.49%

0.56%

NCOs / Average Loans

0.15%

0.16%

0.12%

0.14%

0.30%

0.44%

0.14%

0.19%

0.12%

0.12%

0.11%

0.18%

0.70%

1.36%

1.27%

0.02%

0.01%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

2005

2006

2007

2008

2009

2010

CCNE  - CNB Bank

CCNE - Holiday Financial Services

Peers

Peers

include

U.S.

bank

holding

companies

with

assets

between

$1

and

$3

billion

for

2010,

2009,

and

2008,

and

U.S.

bank

holding

companies

with

assets

between

$500

million

and

$1

billion

for

2007,

2006

and

2005.

12

Nonperforming Loans / Loans

13

Peers

include

U.S.

bank

holding

companies

with

assets

between

$1

and

$3

billion

for

2010,

2009,

and

2008,

and

U.S.

bank

holding

companies

with

assets

between

$500

million

and

$1

billion

for

2007,

2006

and

2005.

0.40%

0.32%

0.40%

0.53%

1.87%

1.61%

0.46%

0.56%

1.00%

2.41%

3.51%

3.53%

2005

2006

2007

2008

2009

2010

CCNE

Peers

Delinquent Loans/Total Loans

Peers

include

U.S.

bank

holding

companies

with

assets

between

$1

and

$3

billion

for

2010,

2009,

and

2008,

and

U.S.

bank

holding

companies

with

assets

between

$500

million

and

$1

billion

for

2007

and

2006.

14

Non-interest expense ratio

{Non-interest expenses divided by average assets}

Peers include U.S. bank holding companies with assets between $1 and $3 billion for 2010, 2009, and

2008, and U.S. bank holding companies with assets between $500 million and $1 billion for 2007.

3.12%

2.89%

2.79%

2.92%

2.45%

2.78%

3.03%

3.09%

2%

3%

3%

4%

2007

2008

2009

2010

Peer group

CNB Financial Corp.

15

Holiday Financial Services

Net Income

Charge-Offs

$225,000

$576,000

1,332,000

889,000

2009

2010

16

Summary Financial Highlights

17

($ in millions, except per share data)

2005

2006

2007

2008

2009

2010

BALANCE SHEET

Assets

$764

$781

$859

$1,017

$1,162

$1,414

Loans

$511

$547

$600

$672

$715

$795

Deposits

$619

$631

$659

$815

$957

$1,163

Shareholders' Equity

$70

$72

$69

$62

$69

$110

PROFITABILITY

Net Income

$9.1

$9.6

$9.1

$5.2

$8.5

$11.3

EPS

$1.01

$1.08

$1.05

$0.61

$0.98

$1.06

Return on Average Assets

1.23%

1.26%

1.12%

0.55%

0.79%

0.87%

Return on Average Equity

13.4%

13.5%

12.8%

7.9%

12.9%

11.6%

Net Interest Margin

3.97%

4.17%

4.27%

4.33%

4.00%

3.71%

Efficiency Ratio

57.3%

57.7%

61.8%

65.1%

59.9%

57.9%

Noninterest Expense/ Avg Assets

2.70%

2.87%

3.09%

3.03%

2.73%

2.43%

CAPITAL

Tang. Common Equity / Tang. Assets

7.8%

7.9%

6.9%

5.1%

5.1%

7.1%

Leverage Ratio

9.2%

9.2%

9.7%

8.4%

7.9%

8.8%

Tier 1 Risk Based Ratio

11.7%

11.7%

11.9%

10.8%

10.7%

14.1%

Total Risk Based Capital Ratio

12.8%

12.8%

12.9%

12.0%

12.0%

15.3%

ASSET QUALITY

NPAs/ Assets

0.28%

0.25%

0.34%

0.42%

1.17%

0.93%

NPAs/Loans+OREO

0.41%

0.35%

0.48%

0.63%

1.90%

1.66%

NCOs / Average Loans

0.15%

0.17%

0.14%

0.28%

0.49%

0.56%

Reserves/ Loans

1.10%

1.11%

1.13%

1.30%

1.37%

1.36%

Return on Average Tangible Equity

16.0%

16.5%

15.3%

9.6%

15.5%

14.4%

*

* Please see the Appendix for a reconciliation of non-GAAP financial information.

Appendix

Non-GAAP Financial Reconciliation

Tangible

common

equity

to

tangible

assets

is

a

non-GAAP

financial

measure

calculated

using

GAAP

amounts.

Tangible

common

equity

is

calculated

by

excluding

the

balance

of

goodwill

and

other

intangible

assets

from

the

calculation

of

stockholders’

equity.

Tangible

assets

is

calculated

by

excluding

the

balance

of

goodwill

and

other

intangible

assets

from

the

calculation

of

total

assets.

CNB

believes

that

this

non-GAAP

financial

measure

provides

information

to

investors

that

is

useful

in

understanding

our

financial

condition.

Because

not

all

companies

use

the

same

calculation

of

tangible

common

equity

and

tangible

assets,

this

presentation

may

not

be

comparable

to

other

similarly

titled

measures

calculated

by

other

companies.

A

reconciliation

of

this

non-GAAP

financial

measure

is

provided

below.

($ in thousands)

2005

2006

2007

2008

2009

2010

Total Shareholders' Equity

$69,968

$72,279

$69,283

$62,467

$69,409

$109,645

Less Goodwill

10,821

10,821

10,821

10,821

10,821

10,821

Less Other Intangible Assets

800

385

285

185

85

-

Tangible Common Equity

$58,347

$61,073

$58,177

$51,461

$58,503

$98,824

Total Assets

$764,018

$780,850

$858,700

$1,016,518

$1,161,591

$1,413,511

Less Goodwill

10,821

10,821

10,821

10,821

10,821

10,821

Less Other Intangible Assets

800

385

285

185

85

-

Tangible Assets

$752,397

$769,644

$847,594

$1,005,512

$1,150,685

$1,402,690

Total Shareholders' Equity / Total Assets

9.16%

9.26%

8.07%

6.15%

5.98%

7.76%

Tangible Common Equity / Tangible Assets

7.75%

7.94%

6.86%

5.12%

5.08%

7.05%

18

Financial Highlights

Year Ended December 31, 2010

NASDAQ: CCNE

March 4, 2011