Commercial National Declares $.26 Per Share Third Quarter Dividend
Commercial National Financial (OTCQX:CNAF), parent of Commercial Bank & Trust of PA, has declared a quarterly dividend of $0.26 per share, payable September 6 to shareholders of record as of August 30. The company's executive officers and directors own 16.36% of outstanding shares. CNAF employs 81 people, with 34 represented by UAW Local 1799. A new labor agreement, effective February 15, 2024, will expire in February 2029.
CNAF operates seven community banking facilities in Pennsylvania, along with an asset management and trust division. The company also offers internet and automated telephone banking services. The unionized status of some employees may limit CNAF's strategic options compared to non-unionized institutions, a factor considered in its strategic and capital management decisions.
Commercial National Financial (OTCQX:CNAF), la capogruppo di Commercial Bank & Trust of PA, ha dichiarato un dividendo trimestrale di $0,26 per azione, pagabile il 6 settembre agli azionisti registrati al 30 agosto. Gli dirigenti e i membri del consiglio della società possiedono il 16,36% delle azioni in circolazione. CNAF impiega 81 persone, di cui 34 rappresentate dalla UAW Local 1799. Un nuovo contratto di lavoro, valido dal 15 febbraio 2024, scadrà a febbraio 2029.
CNAF gestisce sette filiali bancarie comunitarie in Pennsylvania, insieme a una divisione di gestione patrimoniale e fiduciarie. L'azienda offre anche servizi bancari via internet e telefono automatizzato. Lo stato sindacale di alcuni dipendenti potrebbe limitare le opzioni strategiche di CNAF rispetto alle istituzioni non sindacalizzate, un fattore considerato nelle decisioni strategiche e di gestione del capitale.
Commercial National Financial (OTCQX:CNAF), la empresa matriz de Commercial Bank & Trust of PA, ha declarado un dividendo trimestral de $0.26 por acción, pagadero el 6 de septiembre a los accionistas registrados hasta el 30 de agosto. Los ejecutivos y directores de la empresa poseen el 16.36% de las acciones en circulación. CNAF emplea a 81 personas, de las cuales 34 están representadas por la UAW Local 1799. Un nuevo acuerdo laboral, que entrará en vigor el 15 de febrero de 2024, expirará en febrero de 2029.
CNAF opera siete instalaciones bancarias comunitarias en Pensilvania, junto con una división de gestión de activos y fideicomisos. La condición sindical de algunos empleados puede limitar las opciones estratégicas de CNAF en comparación con las instituciones no sindicalizadas, un factor que se considera en sus decisiones estratégicas y de gestión de capital.
Commercial National Financial (OTCQX:CNAF)는 Commercial Bank & Trust of PA의 모회사로서 주당 $0.26의 분기 배당금을 선언했습니다, 8월 30일 기준 주주들에게 9월 6일 지급 예정입니다. 회사의 임원 및 이사들은 발행된 주식의 16.36%를 소유하고 있습니다. CNAF는 81명의 직원을 고용하며, 그 중 34명이 UAW Local 1799에 의해 대표되고 있습니다. 새로운 노동 계약은 2024년 2월 15일부터 발효되며, 2029년 2월에 만료됩니다.
CNAF는 펜실베이니아에서 7개의 지역 은행 시설을 운영하며, 자산 관리 및 신탁 부서도 함께 갖추고 있습니다. 또한 인터넷 및 자동 전화 뱅킹 서비스를 제공합니다. 일부 직원의 노동조합 성격은 CNAF의 전략적 옵션을 비조합 기관과 비교했을 때 제한할 수 있으며, 이는 전략적 및 자본 관리 결정에 고려되는 요소입니다.
Commercial National Financial (OTCQX:CNAF), la société mère de Commercial Bank & Trust of PA, a déclaré un dividende trimestriel de 0,26 $ par action, payable le 6 septembre aux actionnaires inscrits au 30 août. Les dirigeants et directeurs de la société détiennent 16,36 % des actions en circulation. CNAF emploie 81 personnes, dont 34 sont représentées par le syndicat UAW Local 1799. Un nouvel accord de travail, qui entrera en vigueur le 15 février 2024, expirera en février 2029.
CNAF exploite sept établissements bancaires communautaires en Pennsylvanie, ainsi qu'une division de gestion d'actifs et de fiducie. L'état syndical de certains employés peut limiter les options stratégiques de CNAF par rapport aux institutions non syndiquées, un facteur pris en compte dans ses décisions stratégiques et de gestion du capital.
Commercial National Financial (OTCQX:CNAF), die Muttergesellschaft der Commercial Bank & Trust of PA, hat eine vierteljährliche Dividende von 0,26 USD pro Aktie erklärt, die am 6. September an die Aktionäre ausgezahlt wird, die am 30. August in den Unterlagen verzeichnet sind. Die Unternehmensführung und die Direktoren besitzen 16,36% der ausgegebenen Aktien. CNAF beschäftigt 81 Mitarbeiter, von denen 34 Mitglieder der UAW Local 1799 sind. Ein neuer Tarifvertrag, der am 15. Februar 2024 in Kraft tritt, läuft im Februar 2029 aus.
CNAF betreibt sieben Filialen von Gemeinschaftsbanken in Pennsylvania sowie eine Abteilung für Vermögensverwaltung und Treuhand. Das Unternehmen bietet auch Internet- und automatisierte Telefonbanking-Dienste an. Der Mitgliedsstatus einiger Mitarbeiter könnte die strategischen Optionen von CNAF im Vergleich zu nicht gewerkschaftlich organisierten Einrichtungen einschränken, ein Faktor, der bei strategischen und kapitalwirtschaftlichen Entscheidungen berücksichtigt wird.
- Declared quarterly dividend of $0.26 per share
- Executive officers and directors own 16.36% of outstanding shares, indicating alignment with shareholder interests
- New labor agreement in place until February 2029, providing stability in workforce relations
- Unionized workforce may limit strategic options compared to non-unionized competitors
- Reliance on traditional banking facilities in a digital age may pose challenges
LATROBE, PA / ACCESSWIRE / August 20, 2024 / Commercial National Financial Corporation (OTCQX:CNAF), parent company of Commercial Bank & Trust of PA, has declared a quarterly dividend of
Direct and beneficial ownership by executive officers and directors of the Company's outstanding shares totaled 467,957 shares, or
As disclosed each year in the Annual Report to Shareholders, on June 30, 2024, the Company employed 81 people in full-time and part-time positions. Thirty four (34) employees are represented by the United Auto Workers, Local 1799. Of that bargaining unit total, thirty one (31) employees are full-time and there are three (3) part-time employees. The Company has had unionized employees since 1972. In November 2023, the agreement between the Company and the bargaining unit was negotiated and subsequently ratified by the bargaining unit with an effective date of February 15, 2024. The labor agreement will expire in February 2029. The Commonwealth of Pennsylvania and the National Labor Relations Board both afford protection to the organized status of pre-existing collective bargaining units. The Company has been advised that bargaining unit status limits the Company's strategic options relative to those of non-unionized insured depository institutions. The Company continues to consider this as a factor in its strategic and capital management decisions.
The Company operates seven community banking facilities in Hempfield Township, Latrobe, Ligonier, Unity Township and West Newton, Pennsylvania and also maintains a commercial business development sales force throughout its entire market area. The Company operates an asset management and trust division of Commercial Bank & Trust of PA headquartered in Greensburg, Pennsylvania. Commercial Bank & Trust of PA also serves its customer base from an Internet banking site (www.cnbthebankonline.com) and an automated TouchTone Teller banking system.
Forward Looking Statements
Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements are based on information currently available to the company, and the company assumes no obligation to update these statements as circumstances change. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems, and the company's ability to execute its business plans. The actual results of future events could differ materially from those stated in any forward-looking statements herein.
SOURCE: Commercial National Financial Corporation
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