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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) 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.
Commercial National Financial Corporation (CNAF) has announced a quarterly dividend of $0.26 per share, payable on September 3 to shareholders of record as of August 27. As of June 30, 2021, executive officers and directors owned 16.37% of outstanding shares, totaling 468,212 shares. The company employs 81 staff, with 31 represented by the United Auto Workers, Local 1799. The labor agreement is set to expire in February 2024. CNAF operates eight community banking facilities across Pennsylvania and offers online banking services.
Commercial National Financial Corporation (OTCQX:CNAF) has announced a special cash dividend of $1.00 per share, payable on June 4, 2021, to shareholders recorded by May 28, 2021. This dividend, supported by undistributed earnings from 2020 and Q1 2021, marks the company's fourth special payout of $1.00 since 2012. Cumulatively, the company has issued $4.76 per share in special dividends, totaling $13.6 million to shareholders. The regular quarterly dividend remains intact at $0.26, affirming the firm’s strong capital position and commitment to equitable dividend distribution.
Commercial National Financial Corporation (OTCQX:CNAF) announced a quarterly dividend of $0.26 per share, payable on June 4, 2021, to shareholders of record by May 28, 2021. Executive officers and directors hold 460,362 shares, approximately 16.09% of outstanding shares as of March 31, 2021. The company currently employs 79 people and has a collective bargaining agreement set to expire in February 2024. Additionally, CNAF operates eight community banking facilities across various Pennsylvania locations.
Commercial National Financial Corporation (CNAF) reported a net income of $1,068,000 or $0.37 per share for Q1 2021, down from $1,816,000 or $0.63 per share year-over-year. This decline was influenced by $730,000 in tax-free life insurance proceeds in Q1 2020. Despite the earnings drop, the company maintains a solid capital position, supporting its regular $0.26 quarterly dividend. As of March 31, 2021, executive ownership represented 16.09% of outstanding shares, and the company employed 79 staff members.
Commercial National Financial Corporation (OTCQX:CNAF) announced a quarterly dividend of $0.26 per share, payable on March 5 to shareholders of record as of February 26. As of December 31, 2020, executive officers and directors held 445,969 shares, representing 15.59% of total outstanding shares. The company employs 80 individuals, with a unionized workforce represented by the United Auto Workers, Local 1799 since 1972. The current labor agreement is set to expire in February 2024.
Commercial National Financial Corporation (CNAF) reported a third-quarter 2020 loss of $67,000 ($0.02 per share), a significant decline from a profit of $1,277,000 ($0.45 per share) in Q3 2019. The nine-month earnings fell to $3,201,000 ($1.12 per share) compared to $3,517,000 ($1.23) in the same period last year. A COVID-19 driven loan loss reserve build of $1,700,000 impacted results. Despite this, the net interest margin improved to 4.21%. Capital ratios remain robust, supporting a consistent quarterly dividend of $0.26.
Commercial National Financial Corporation (OTCQX:CNAF) has declared a quarterly dividend of $0.26 per share, payable on September 4, 2020, to shareholders on record as of August 28, 2020. As of June 30, 2020, executive officers and directors owned 16.84% of total shares. The company employs 83 people, of which 32 are represented by the United Auto Workers. The current labor agreement is set to expire in February 2024. Additionally, the company operates nine banking facilities across Pennsylvania.
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