UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8 - K
PURSUANT TO SECTION 13 or 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 10, 1999 (May 4, 1999)
CNB FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number 2-88511
Pennsylvania 25-1450605
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
County National Bank
1 South Second Street
P.O. Box 42
Clearfield, Pennsylvania 16830
(Address of principal executive offices)
Registrant's telephone number, including area code, (814) 765-9621
Item 5. Other Events
On May 4, 1999, CNB Financial Corporation's wholly-owned subsidiary County
National Bank agreed to purchase four PNC Bank branch offices in north-western
Pennsylvania. The agreement includes the acquisition of the related deposits,
consumer loans, and certain commercial loans for the offices located in Bradford
and Kane in McKean County, and Ridgway and Johnsonburg in Elk County. County
National Bank will acquire approximately $113 million in deposits, $27 million
in consumer and small business loans, along with related fixed assets, leases,
and other agreements. The consideration to be paid by County National Bank will
be $9.6 million for the deposits and the right to acquire, at book value, the
loan portfolio and related assets of the offices. The transaction is subject to
regulatory approval and is expected to be completed by September 30, 1999.
Item 7. Financial Statements and Exhibits
(a) Financial Statements: None.
(b) Exhibits:
1 Press Release Announcing: County National Bank to Acquire Four
Offices of PNC Bank.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CNB Financial Corporation
(Registrant)
May 10, 1999 /s/ Joseph B. Bower, Jr.
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Joseph B. Bower, Jr.
Treasurer
CNB Financial Corporation
Exhibits to Form 8-K
For the Current Report Dated May 10, 1999
Exhibit Index
Exhibit Method of
Number Description Filing
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1 Press Release Announcing Filed
County National Bank to Herewith
Acquire Four Offices of PNC Bank