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About Commercial National Financial Corporation (CNAF)
Commercial National Financial Corporation (CNAF) is a bank holding company headquartered in Latrobe, Pennsylvania. It operates as the parent company of Commercial Bank & Trust of PA, a community-focused financial institution serving customers across Pennsylvania. With a strong emphasis on personalized service, CNAF offers a comprehensive suite of banking products and financial services tailored to the needs of individuals, businesses, and institutions.
Core Banking Services
The company provides a variety of deposit products, including checking accounts, money market investment accounts, savings accounts, business-time deposits, and certificates of deposit. These offerings cater to a diverse customer base, from individuals seeking secure savings options to businesses managing operational liquidity.
Loan and Credit Products
CNAF’s lending portfolio includes home-equity loans, personal lines of credit, automobile loans, and residential and construction mortgages. For commercial clients, the bank offers term loans, lines of credit, and specialized financing solutions designed to support business growth and development. These lending products are a significant revenue stream, driven by interest income and tailored underwriting practices.
Digital and Branch Banking
Recognizing the importance of convenience and accessibility, Commercial Bank & Trust of PA provides a robust suite of digital banking services. Customers can access their accounts through online banking, mobile banking, and automated TouchTone Teller systems. Additionally, the bank operates a network of community branches strategically located in Hempfield Township, Latrobe, Ligonier, Unity Township, and West Newton, Pennsylvania. These branches serve as hubs for personalized customer service and local engagement.
Asset Management and Trust Services
Through its asset management and trust division, headquartered in Greensburg, Pennsylvania, CNAF offers a range of financial planning and investment services. These include trust and estate planning, investment management, and retirement products. The division caters to clients seeking professional guidance to manage and grow their wealth, emphasizing fiduciary responsibility and long-term value creation.
Commitment to Community Banking
As a regional bank, CNAF is deeply rooted in its local communities. Its business model prioritizes relationship-based banking, leveraging its understanding of the local market to provide tailored financial solutions. This community-centric approach is complemented by its unionized workforce, which underscores its commitment to employee rights and operational stability.
Market Position and Competitive Landscape
CNAF operates in a highly competitive regional banking market. Its differentiation lies in its strong capital position, exceptional asset quality, and focus on fully insured core deposits. These factors contribute to its resilience, particularly in challenging economic environments marked by elevated interest rates and regulatory pressures. By maintaining a conservative risk profile and prioritizing customer trust, CNAF has established itself as a reliable financial partner in Pennsylvania.
Capital Management and Financial Stability
The company’s financial health is reinforced by robust capital ratios and a conservative approach to balance sheet management. CNAF’s fully insured core deposits and high asset quality metrics position it favorably compared to national banking industry benchmarks. This stability enables it to navigate economic fluctuations while continuing to support its customers and communities.
Unionized Workforce and Strategic Considerations
Since 1972, CNAF has maintained a unionized workforce, with a portion of its employees represented by the United Auto Workers, Local 1799. While this status provides protections for employees, it also influences the company’s strategic and capital management decisions. The long-standing labor agreement reflects CNAF’s commitment to its employees and its emphasis on operational continuity.
Looking Ahead
As a community-focused financial institution, Commercial National Financial Corporation remains committed to delivering value to its customers, shareholders, and employees. By leveraging its strong capital base, exceptional asset quality, and localized expertise, the company is well-positioned to adapt to evolving market conditions and continue its tradition of reliable, relationship-based banking.
Commercial National Financial Corporation (OTCQX:CNAF) reported Q3 2022 earnings of $677,000 ($0.23 per share), a decline from $909,000 ($0.32 per share) in Q3 2021. For the nine-month period, earnings fell to $2,582,000 ($0.90 per share) from $2,978,000 ($1.04 per share) year-over-year. The company's capital ratios as of September 30, 2022, were robust, with tier one capital at 22.05%. Additionally, a property was disposed of successfully, generating a $70,000 gain. However, rising interest rates negatively impacted the securities portfolio.
Commercial National Financial Corporation (OTCQX:CNAF) has declared a quarterly dividend of $0.26 per share, payable on September 2, 2022, to shareholders on record as of August 26, 2022. As of June 30, 2022, executive officers and directors owned 489,660 shares, representing 17.12% of total shares. The company employs 82 personnel, with 34 represented by the United Auto Workers. The labor agreement with the bargaining unit, effective since February 16, 2019, will expire in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) reported Q2 2022 earnings of $932,000 ($0.33 per share), down from $1,001,000 ($0.35 per share) in Q2 2021. For the first six months, earnings were $1,905,000 ($0.67 per share) compared to $2,069,000 ($0.72 per share) in the same period last year. The company maintained strong capital ratios: 21.74% tier one risk-based and 22.55% total risk-based at June 30, 2022. Direct and beneficial ownership by executives totaled 17.12%. The workforce included 82 employees, 34 of whom are unionized, with a labor agreement expiring in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) has announced a quarterly dividend of $0.26 per share, set to be paid on June 3, 2022, to shareholders of record by May 27, 2022. As of March 31, 2022, executive officers and directors hold 17.12% of the company's outstanding shares, totaling 489,660 shares. The company employs 80 individuals, with 32 represented by the United Auto Workers. The current labor agreement is effective until February 2024.
Commercial National Financial Corporation (OTC Markets: CNAF) reported a net income of $973,000 or $0.34 per share for Q1 2022, down from $1,068,000 or $0.37 per share in Q1 2021. The company reported that direct ownership by executives and directors totals 489,660 shares, representing 17.12% of outstanding shares as of March 31, 2022. The firm employs 80 staff members, with 32 represented by a union. The current labor agreement is effective until February 2024. CNAF operates seven banking facilities across Pennsylvania and has strategic considerations regarding its unionized status.
Commercial National Financial Corporation (OTCQX:CNAF) reported its financial results for Q4 2021, earning $1,707,000 ($0.60 per share) compared to $2,512,000 ($0.88 per share) in Q4 2020. For the full year, earnings were $4,685,000 ($1.64 per share) down from $5,713,000 ($2.00 per share) in 2020, reflecting a substantial 2020 loan loss reserve release of $1,700,000. Despite the decline, the company's solid capital position supports ongoing quarterly dividends of $0.26 per share. As of December 31, 2021, executive ownership accounted for 17.09% of shares. The company operates seven banking facilities in Pennsylvania.
Commercial National Financial Corporation (OTCQX:CNAF) announced a quarterly dividend of $0.26 per share, payable on March 4 to shareholders of record as of February 25. The company's executive officers and directors own 17.09% of outstanding shares, totaling 489,071 shares. As of December 31, 2021, the company employed 79 people, with 31 represented by the union. The current labor agreement is set to expire in February 2024. The company operates seven community banking facilities across western Pennsylvania and maintains an asset management division.
Commercial National Financial Corporation (CNAF) reported fourth quarter 2021 earnings of $1,910,000 ($0.67/share), down from $2,512,000 ($0.88/share) in 2020. For the full year, earnings were $4,888,000 ($1.71/share), a decrease from $5,713,000 ($2.00/share) in 2020. The results included a $1,700,000 loan loss reserve release, ensuring continued $0.26 quarterly dividends for shareholders. Direct ownership by executives totaled 17.09%, and the company employs 79 staff, 31 of whom are unionized, with a labor contract expiring in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) has announced a quarterly dividend of $0.26 per share, payable on December 3 to shareholders recorded as of November 26. As of September 30, 2021, executive officers and directors hold 17.08% of outstanding shares. The company employs 77 people, with a portion unionized since 1972. The current labor agreement is set to expire in February 2024, potentially affecting strategic options.
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