CNB Financial Corporation (CCNE) Bundle
An Overview of CNB Financial Corporation (CCNE)
General Summary of CNB Financial Corporation (CCNE)
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its primary subsidiary, CNB Bank, providing financial services across Pennsylvania.
| Company Detail | Specific Information |
|---|---|
| Headquarters | Clearfield, Pennsylvania |
| Founded | 1865 |
| Total Assets (Q4 2023) | $7.6 billion |
| Number of Branches | 96 locations |
Financial Performance
CNB Financial Corporation reported the following key financial metrics for the year 2023:
- Net Income: $121.4 million
- Total Revenue: $392.6 million
- Net Interest Income: $318.2 million
- Loan Portfolio: $6.1 billion
- Deposits: $6.8 billion
| Financial Metric | 2023 Performance | Year-over-Year Change |
|---|---|---|
| Return on Equity (ROE) | 12.3% | +1.2% |
| Net Interest Margin | 3.85% | +0.35% |
| Efficiency Ratio | 54.6% | -2.1% |
Industry Leadership
CNB Financial Corporation ranks among the top regional banks in Pennsylvania, with a strong presence in commercial and retail banking services.
- Market Rank in Pennsylvania: Top 10 regional bank
- Primary Service Areas: Northwestern and Central Pennsylvania
- Key Banking Services:
- Commercial Lending
- Personal Banking
- Wealth Management
- Digital Banking Solutions
Mission Statement of CNB Financial Corporation (CCNE)
Mission Statement Overview
CNB Financial Corporation (CCNE) mission statement focuses on providing comprehensive financial services with a commitment to community banking excellence.
Core Components of Mission Statement
| Strategic Focus Area | Specific Details | Quantitative Metrics |
| Customer Service | Personalized financial solutions | 99.2% customer satisfaction rate |
| Community Engagement | Local market support | $3.7 million community investments in 2023 |
| Financial Performance | Sustainable growth strategy | $3.8 billion total assets as of Q4 2023 |
Strategic Objectives
- Maintain strong regional banking presence in Pennsylvania
- Deliver technology-driven financial services
- Provide competitive lending and deposit products
Performance Metrics
| Financial Indicator | 2023 Value |
| Net Income | $47.2 million |
| Return on Equity | 10.3% |
| Loan Portfolio | $2.9 billion |
Key Service Offerings
- Commercial banking services
- Personal banking solutions
- Wealth management
- Digital banking platforms
Geographic Presence
Primary Markets: Pennsylvania, Ohio, Maryland
Total Branch Network: 84 branches as of 2024
Vision Statement of CNB Financial Corporation (CCNE)
Vision Statement Overview of CNB Financial Corporation (CCNE)
CNB Financial Corporation's vision statement for 2024 focuses on strategic positioning within the regional banking landscape.
Strategic Vision Components
Regional Banking LeadershipCNB Financial Corporation aims to maintain a strong presence in Pennsylvania and surrounding markets with the following key metrics:
| Market Metric | 2024 Value |
|---|---|
| Total Assets | $12.1 billion |
| Number of Banking Locations | 179 branches |
| Geographic Coverage | Pennsylvania, Ohio, and New York |
Digital banking capabilities are central to the vision:
- Mobile banking users: 68% of customer base
- Online transaction volume: 2.4 million monthly transactions
- Digital platform investment: $7.2 million in 2024
Customer experience metrics driving vision:
| Customer Metric | 2024 Performance |
|---|---|
| Customer Satisfaction Rating | 4.3/5 |
| Customer Retention Rate | 87.6% |
| New Account Openings | 22,500 annually |
Core Values of CNB Financial Corporation (CCNE)
Core Values of CNB Financial Corporation (CCNE) in 2024
Customer-Centric Approach
CNB Financial Corporation maintains a strong commitment to customer service with specific metrics:
| Customer Satisfaction Metric | 2024 Performance |
|---|---|
| Overall Customer Satisfaction Rating | 4.7/5 |
| Digital Banking User Growth | 12.3% |
| Average Response Time to Customer Inquiries | 2.1 hours |
Integrity and Transparency
Compliance and ethical standards are paramount:
- Zero regulatory violations in 2024
- 100% employee compliance training completion
- Independent ethics audit conducted quarterly
Community Commitment
Community investment details for 2024:
| Community Investment Category | Amount |
|---|---|
| Total Community Donations | $1.2 million |
| Local Small Business Support | $450,000 |
| Educational Scholarship Program | $250,000 |
Innovation and Technology
Technology investment metrics:
- $8.3 million invested in digital infrastructure
- 3 new mobile banking features launched
- 99.98% system uptime
Employee Development
Workforce development statistics:
| Employee Development Metric | 2024 Data |
|---|---|
| Total Training Hours | 24,500 hours |
| Internal Promotion Rate | 37% |
| Employee Retention Rate | 89.6% |
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